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Peter Schiff is wrong again??
Submitted by Blaise on Mon, 03/23/2009 - 11:49
http://finance.yahoo.com/techticker/article/216235/Are-Peter... Sometimes Yahoo seems to be right on about somethings, and others they just really annoy me. This is one of those times. » |
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Agree Blaise: Very annoying. The readers comments are...
very telling.
1. WHEN THE ROMANS STOPPED USING GOLD AND SILVER FOR A "WASHED COIN"",,THEY HIT THE TOILET......IN THE TWENTIES CHEAP TOILET PAPER WAS USED FOR MONEY. IN GERMANY ....IN 1933 DURING DEPRESSION ,THE US CONFISCATED GOLD ,,.WHICH PROVES "THEY KNOW WHERE THE VALUE IS"..,,AND IT AINT PAPER..... PAPER MONEY HAS "ZERO"VALUE TO GOVERNMENT"THATS WHY THEY PRINT MONEY AT 600 FOOT PER MINUTE.,,,AND ITS NOT EVEN BACKED "ONE CENT" ON THE DOLLAR WITH ANYTHING ...TODAY THEIR PRINTING ..."HOME OWNERS""...,JUST TO HAVE MORE POCKETS TO PICK......AND 40 YRS OF "DUMBING DOWN"", THE EDUCATION SYSTEM,, AND "THE DEVIL MADE ME DO IT""IS VOGUE...
2. So what genius advice are you offering as a result of your incredible insight into how wrong Peter Schiff is. There isn't any here thats for sure. Schiff is up threefold since the 2001 time period in gold - anybody in stocks and bonds is not - he really doesn't care if gold drops $100 or even $300. Another idiot writing an article.
3. You say "... but the bet went the wrong way for Schiff.". Then you conclude ... "A better explanation is that gold is rising because of increased instability..." Looks like Schiff has been right about gold all along, you just can't grasp the reason yet.