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GAMCO Global Gold, Natural Reso Message Board

  • fav_for_08 fav_for_08 Aug 30, 2013 9:34 AM Flag

    CNBC interview with Peter Schiff yesterday "Once invrestors "wake up to reality" gold will soar: Schiff

    Excellent interview yesterday with Peter Schiff on CNBC quote:

    "He believes that debt will force the US to print a great deal of money, causing a nightmare scenario for the US dollar and the bond market. That why he advises getting into gold.

    Sentiment: Strong Buy

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    • "Investors?"

      It looks to me like the money that moves markets today is HFT, Hedge Funds, Private Equity and Dark Pools. Investors as we commonly think of them are those little teeny things under the elephant feet that don't move much, and trade 5 times a year, not 50,000 times a minute.

      Peter is right on a lot, but misses some important things.
      1) The last time we had a bull run in bullion, the US markets drove it. Today, it is pretty obvious that serious pressure on the bullion price will be driven by the East.
      2) The East does not by mining equities. US funds, individual ants, pension plans, do not buy mining equities. The only hope there is that they become a Hedge Fund Chew Toy darling, and get taken for a ride by opportunists. Those same fellas are not known for their buy and hold mentality.
      3) The American public could give lessons to rocks on being stupid, and to ostriches on burying their heads in sand. Look forward to the "awakening" right about the time the Tooth Fairy is found to be real.

      Look, I'm in bullion, miners, energy deep. I believe it *will* win out long term. But you almost have to find a way for it to happen without the common man getting a clue, or involved, because he's clueless and marginalized to the point of insignificance in modern times...

    • yeah he's a genius at getting people's attention.

      I love his gold $10k an ounce prediction.

      kinda funny, the guy cant tell you where the price of gold is going in a few months or a year but he knows where its going in a few years?

      now does that make sense to you?

 
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