Peter Schiff on Gold, Geitner, Roubini, the Fed and housing
Top Comments
All Comments (39)
-
@drkshad0 I do not, but I do own some DZZ though ;) It's not that people don't or should not care about deficits or debt, but people need to understand they're behaving as though they're still living in the 1800s. While at the same time their government, and the financial leaders (over the last 200 years) have invented new forms of accounting, new financial instruments, a new central bank, a fiat currency, etc.. It's time the people woke up to how their economy works.
-
@quirkjerks : Not just gold. Silver. Oil. Rice.
In other words - commodities.
-
@doomz78 "but this will be the time to buy it." -- THAT's the idea! Investing in commodities and precious metals isn't a way to 'make a buck' - it's a fairly decent hedge against government spending and incompetence.
When prices on commodities drop - you buy! :-)
-
"Gold is probably the most irrational of all financial assets. It serves essentially no useful purpose beyond its ability to demand higher prices from someone else. It generates no cash flow. It pays no dividends. Its main commercial purpose is to serve as decoration."
Nice quote. Bet you don't own any stock in gold/silver or commodities, eh? ;-)
Sure it's a 'bubble'! Everyone knows that the USD is worth every cent it represents! Who cares about mundane items like 'deficits'or 'debt'?
-
CT needs Peter!
-
hehehe not long to wait to see the effects of inflation...its a 2 year lag after currency flooding..and commodity markets usually look ahead 6 months, I suspect you'll see a steep incline of commodity prices right...about...NOW! Gold up!
-
Pull your head out of your ass. Do you actually think you're going to make money? Has a group as large as you gold pushers all made money at once, ever, in the history of the market? No. You all have been used as cheerleaders and pawns each and every time and you end up getting your money taken by people who control the system. Schiff may have saw what they were setting up, but he has no idea where they're going. You most likely bought gold at the top of a bubble. Get over it.
-
Ugh. It's speculation people. That is the only thing that pushes the price of gold. Period. The fundamentals may sway a speculator one way or another, but it's still speculation. Get real, Schiff. It's a bubble. If gold drops below 1,000 twice. It's gone.
-
Geithner is a complete and utter buffoon.
PETER SCHIFF 2010!
bakabusu3 2 years ago 8
I hope Peter delivers a KO punch to that corrupt fool Chris Dodd.
schwarzblatt 2 years ago 6