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Thread: Peter Schiff: Gold Goes Through the Roof

  1. #1

    Peter Schiff: Gold Goes Through the Roof

    15 min video with Schiff talking about the economy, trade deal and of course Gold.


    https://youtu.be/3iFolFv4RV0



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  3. #2

    Exclamation Trumpkin Irrational exuberance.

    Irrational exuberance.

    PM's are headed down this morning. Buy, buy, buy!

    Last edited by RonZeplin; 01-21-2020 at 08:35 AM.
    Quote Originally Posted by Swordsmyth View Post
    You only show up to attack Trump when he is wrong
    DACA S**thole Dreamers - Make America Great Again?

  4. #3
    Quote Originally Posted by RonZeplin View Post
    Irrational exuberance.

    PM's are headed down this morning. Buy, buy, buy!
    Schiff's argument is that investors haven't woken up yet, that's why. Peter was right about the 2008 crash. It's difficult to predict the timing.

  5. #4
    Quote Originally Posted by Warlord View Post
    Schiff's argument is that investors haven't woken up yet, that's why. Peter was right about the 2008 crash. It's difficult to predict the timing.
    Schifff predicted at least twelve of the last one recessions. He has been calling for one every year since. Eventually he will be right again.

    Only $2000 target for gold? He used to claim it was going to $5,000. Hyperinflation coming soon too. Though I think he has dropped that prediction.


    http://www.digitaljournal.com/article/280267

    Peter Schiff: Gold to hit $5,000 per ounce

    By Andrew Moran Oct 9, 2009 in Business

    The 2010 Connecticut Senatorial Republican candidate and economic forecaster, Peter Schiff, sat down with Fox Business News on Wednesday to discuss the recent surge in gold prices and made a stunning projection, similar to past predictions, that gold will reach $5,000 per ounce.

    Schiff has been a bull on precious metals and mining stocks across the globe, especially two Canadian companies Red Back Mining and Capstone Mining. The author of “The Little Book of Bull Moves in a Bear Market” has been buying gold since 2000 when it was at $200USD and still thinks an investor or someone who wants to protect him or herself from inflation should purchase gold because of its further potential highs.

    “First of all it’s definitely not too late to buy, don’t wait for Crash Proof 3.0 to buy gold. Given the fact that all what’s happens and all what’s likely to happen and that gold is still this close to $1000 people should be buying. The fact that gold is going up is the reflection of inflation and not just in America.”
    Gold was about $1300 an ounce in 2009 when this article came out. It is around $1550 today- an increase of 19% over ten years.
    Last edited by Zippyjuan; 01-21-2020 at 11:30 AM.
    Quote Originally Posted by Swordsmyth View Post
    We would be much better off if Republicans had had the instincts to be immigration hawks.
    Quote Originally Posted by Swordsmyth View Post
    The quality seems to have dropped significantly since I came here, I guess you get what you pay for.
    I am Zippy and I approve of this post. But you don't have to.

  6. #5
    Quote Originally Posted by Zippyjuan View Post
    Schifff predicted at least twelve of the last one recessions. He has been calling for one every year since. Eventually he will be right again.

    Only $2000 target for gold? He used to claim it was going to $5,000. Hyperinflation coming soon too. Though I think he has dropped that prediction.


    http://www.digitaljournal.com/article/280267



    Gold was about $1300 an ounce in 2009 when this article came out. It is around $1550 today- an increase of 19% over ten years.
    Selective Zippy. It was $300 in 2000 and was in a bull market. Schiff says its done better under Trump than under Obama.

  7. #6
    Double post.
    Last edited by Zippyjuan; 01-21-2020 at 03:53 PM.
    Quote Originally Posted by Swordsmyth View Post
    We would be much better off if Republicans had had the instincts to be immigration hawks.
    Quote Originally Posted by Swordsmyth View Post
    The quality seems to have dropped significantly since I came here, I guess you get what you pay for.
    I am Zippy and I approve of this post. But you don't have to.

  8. #7
    Quote Originally Posted by Warlord View Post
    Selective Zippy. It was $300 in 2000 and was in a bull market. Schiff says its done better under Trump than under Obama.
    Speaking of being selective- picking gold at its low point after it had been declining for the previous 20 years after peaking in 1980 at $900 an ounce (also during a recession). (I used the price at the time Schiff said it was going to $5,000 though there are many times he said that). Presidents have little to no effect on the price of gold. What is important is the economy- gold moves up when the economy is down and goes down as the economy improves. When Obama took office in 2009, gold was $1100 an ounce. In August, 2011 it peaked at about $2,000 due to the recession meaning it nearly doubled while he was in office until that point. Then as things improved it declined- it was about $1300 an ounce when Trump took over. If there is another recession while Trump is in office, yes we could see gold head higher.

    My source for the gold prices: https://www.macrotrends.net/1333/his...100-year-chart
    Last edited by Zippyjuan; 01-21-2020 at 04:01 PM.
    Quote Originally Posted by Swordsmyth View Post
    We would be much better off if Republicans had had the instincts to be immigration hawks.
    Quote Originally Posted by Swordsmyth View Post
    The quality seems to have dropped significantly since I came here, I guess you get what you pay for.
    I am Zippy and I approve of this post. But you don't have to.

  9. #8



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