Peter Schiff thinks gold is a buy of a lifetime right now -- do you agree?
Answers
3943 points
MNSL answered one year ago …
This is not the right time to buy gold and gold stocks as long term investment.
Those who expert in the gold sector will have advantage over others especially markets like today. If you can identify trends correctly you can trade gold to get short term capital gain.
There is a possibility gold price can go up little bit in the near future and it will trade in a narrow range. In the same times it can come down sharply. It all depends on how market players react to the situation
4075 points
EthanR answered one year ago …
GLD, GG, and GOLD have all sharply rallied up to the 50 day moving average in the past two days. But each one of those stocks/ETF has seen resistance the past few times they have hit the 50 day M.A., then followed by a down turn. So watch these over the next 1-2 days. If they break through the 50 day easily, then I believe the bottom has been reached for gold. And I would not doubt anything that Schiff says. He has a pretty good record on his predictions. Take a look at this article below and notice the date.
http://www.usnews.com/articles/business/your-money/2008/05/30/permabear-pe ter-schiffs-worst-case-scenario.html
2222 points
readytoretire answered one year ago …
While he obviously knows more about gold than I do, I don't believe that it is the buy of a lifetime right now. As he said in a spring interview (available on youtube), gold should be a ten to one of what oil is. That would mean that one of them is way off. Gold always shines when thoughts of inflation or the economy going in the tank abound. If you look at the article that Ethan mentions, Schiff said he liked Singapore and Hong Kong. If you look at those indexes, they are off just a little. Hong Kong has gone from around 26000 to a current 12600. Just a little more than the US market has gone in over a year. Although he has been right more than me, I am always leary of believing someone who basically only has one opinion. Just like a broke clock. It will be right at least twice a day.
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216 points
jrj90620 answered one year ago …
The major risk is a crash in the Dollar.You can't have unlimited increase in the supply of Dollars without eventually seeing the value decline.The U.S. Dollar is only backed by the "full faith and credit" of a bankrupt govt.Gold,commodites,houses and any real assets would be a good place to be compared to fiat Dollars.
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546 points
warren answered one year ago …
Look, the world and markets are never going to be the same. Peter looks at the big picture as do I and it i not pretty. If you or anyone else wants to skip along and invest in financials or tach or whatever as if things are going to get better then all the power to you. But be warned HYPERINFLATION is COMING. Your precious shares may be worth 10 times whatre toda but the currecy will be worth 10 times or more less, so in real terms you will be down. GOld and slver will save you and their stocks will be ok since their prices will appreciate more than the currency devalues and they will be valued in the next currency much higher than any other equities.
I am sick and tired of people dissing Peter, myself and so many others because they cannot see or believe the future economic events. I don't know or care what is going to happen tomorrow or next week, but I do know what will happen down the road at some point. If people don't listen or protect themselves that is their problem not mine, so good luck.
Here is a great video of the fools mocking Peter, who is the real fool? Who are you going to listen to? Think long and hard and don't just be another dumbass.
http://video.google.ca/videoplay?docid=7879752717244782545&ei=2Uo5SY2f O5HqqAOykqDLCA&q=peter+schiff+was+right&hl=en
Warren,
www.pre ciousmetalstockreview.com
678 points
BoxCar answered 11 months ago …
Google [mortgage resets] and open graphs for 2006 to 2016. What I see is a respite
in 2009 when I plan to buy more GLD & SLV at even more bargain prices. Why?
If SubPrime resets of 2007 to 2008 caused a meltdown, its the tip of the iceberg
thats coming in 2010 & 2011 when all the ARMs reset and the other shoe drops.
Hope I'm wrong but don't bank on it. Read <www.genocideorigins.blogspot.com>
In Jan'06 it predicted Modern History including start of 2nd Great Depression in
precisely 2007.5 Since its based on gov't scientific research by solar scientists,
when first bank failed in June 2007, I became aware something big is going down
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