Mr. Schiff was mocked for calling the market collapse before it happened, correctly predicted that gold would reach $1,000 in 2008 and recently schooled the CNBC crew at Fast Money as he predicts the market has much further to drop and gold will hit $2,000 in 2009. If you’ve been a subscriber to Gold Stock Bull for a while, you know we have been making similar calls and are aligned with his views. 2008 may prove to be the last time you will be able to get gold under $1,000 or silver under $10. The liquidation and deleveraging has created a short-term buying opportunity across all commodities and for precious metals in particular. Get some while you still can because when the floor falls out from beneath the dollar, the party is over.
[...] Peter Schiff on Fast Money Calls $2000 Gold in 2009 [...]
As far as silver goes, what about the massive inventory levels currently?
On gold, I’d like to believe it, but I’ve been hearing about Gold going into orbit for 20 years. Whether it’s inflation scare, investment demand, limited supply response, etc… I get the concept of a “store of value” and “hard assets”, but is anyone ever going to use gold as a means of transacting? Unless we all become pirates again, I can’t see showing up at Walmart going…arrg matey, here’s a schilling for that bike.
I would love to see gold go to the moon….above $2000…why will it? Once the U.S. currency is crushed, what stops from things evolving into another paper currency of some order. Maybe currency markets will evolve…maybe that will be the next big bubble…
I just don’t think gold will ever be of use to anyone…if I can’t use it, what’s the point of owning it.
So why as Survival Kit’s for Soldiers finding themselves behind enemy lines are given “Gold” albiet in Coins? To Bribe their way out of problems!So it does have a use would you not agree! And why are all major counties Starting in a massive Buying up “Gold” Orgy!
Vast amounts are going into China? In your words a useless commodity!
Must have some value me thinks!
“Gold” if it is of no use to anyone you in perticular!, Send what your holding this way! If you cant find a use for it that is! Allen