Peter Schiff - Gold to $5K? (CNBC - 11-02-09)

Airtime: Wed. Dec. 2 2009 | 10:42 AM ET

Debating whether the gold rush will continue, with Peter Schiff, Euro Pacific Capital and Lou Grasso, Millenium Futures.

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[frontier1701]

The GOLD top will be upon us when Mark Haines buys in!!! Mark Haines will be the last person into GOLD!!!

[bearcat648]

Grasso doesn't get it. In fairness, Peter could have used a better example, like the plan to use a basket of currencies including gold to sell oil to countries like China. I think we will see gold have a much larger role in international trading. Not to buy cuckoo clocks, but to buy oil and other major commodities. Gold is the best replacement for the dollar as the world reserve currency.

[D33Lux]

There is NO top because they just keep printing money. When the U.S. dollar collapses that's when everything will drop, timing is key. Another issue is there are other big players now, China, Russia, India, South & Central America...etc who are all buying gold & silver including banks.

Just look at where gold's at right now there's no stopping it.

[GusBariga]

i think Erin Brunnett really dislikes Schiff. At the end shes laughing or smurking at Schiff when then other host says " looks like Lou got the last word"

[cranic4444]

Mark haines really is abigmouth total dickhead

[wuddychunk1]

There are various ways to store your wealth. You could store it in dollars, buy a house, gold, paintings. Out of all these things I believe dollars will lose the purchasing power the most. Of course you could consume instead of save.

[Zaxxon2008]

agreed

dave777 makes little to no sense

[Ventorez]

oh man lol he tricked him into admitting its a possible bubble this guys good.

[iwog1]

Gold has been used by humans as money from around 4000 B.C. to 1971. 'Silly currency' has been used as money for what......38 years?

Yeah.....gold will never be a currency. I think someone probably said that in Rome too.

[dave777blaster]

yes that's true but should gold reach 3000

the US dollar will have been long gone

I suspect in 2010 sometime the US dollar will be over.

watch in 2010 the dollar will be dead

prepare for it i is coming

you have been warned

[zeitgeisthero]

strictly gold will never be a currency. its a luxury commodity. people dont need gold to live or even to live comfortably. food, lumber, raw basic building materials are real currency because they are essential to the economy and life. gold is not. gold is no more "money" then any other raw material, except for the fact that it is hard enough to mine it, find it, and portable enough, with enough in circulation.