Jim Rogers and Peter Schiff have been gold bulls for some time, and also agree that the value of U.S. dollar will continue to diminish over time based on the misguided policies and practices of the Federal Reserve.
Rogers continues to maintain gold will rise for years to come, and believes it should be trading at about $2,000 an ounce, comparing to the the former all-time high of $850 an ounce after being adjusted for inflation.
Even so, he still says gold will eventually reach $2,000 sometime in the next decade.
Peter Schiff has been even far more optimistic, predicting gold price could rise as high as $5,000 an ounce. Schiff also believes the rise in the value of the U.S. dollar is just a temporary bump and it'll resume its loss in value.
Both oppose the policies of the Federal Reserve and see U.S. bonds as extremely negative at this time.
Concerning other commodities, Rogers still likes zinc and cotton, with cotton putting pressure on many companies with heavy exposure to it and lower margins.
He also likes silver, which many commodity experts think will be the trade of the next decade. He believes it could definitely reach $50 an ounce again, and possibly go much higher.
Showing posts with label Gold Peter Schiff. Show all posts
Showing posts with label Gold Peter Schiff. Show all posts
Thursday, December 16, 2010
Monday, August 9, 2010
Peter Schiff Says Price of Gold Unlimited
In a recent interview which focused on being in the early stages of an inflationary depression, Peter Schiff also responded to a question on how high he felt gold prices were going to go.
His take is he's shocked that it's still at only $1,200 an ounce, and sees no limit to the upside potential in the current economic climate.
Schiff said in responding to how high he felt gold would go:
"There's no limit to how high gold prices will go. They will rise many times from here --thousands and thousands of dollars per ounce higher. People will be shocked.
"It's surprising to me that gold is still as cheap as it is. I just know it's going higher, and eventually it's going to go ballistic."
Other places to look to put your money in Schiff's view are precious metals, commodities and emerging markets. He advises no one to have their money in U.S. Dollar assets like bonds and Treasuries.
His take is he's shocked that it's still at only $1,200 an ounce, and sees no limit to the upside potential in the current economic climate.
Schiff said in responding to how high he felt gold would go:
"There's no limit to how high gold prices will go. They will rise many times from here --thousands and thousands of dollars per ounce higher. People will be shocked.
"It's surprising to me that gold is still as cheap as it is. I just know it's going higher, and eventually it's going to go ballistic."
Other places to look to put your money in Schiff's view are precious metals, commodities and emerging markets. He advises no one to have their money in U.S. Dollar assets like bonds and Treasuries.
Friday, August 6, 2010
Gold Soars for 8th Straight Day, Payrolls Down, Recession Worries Up
News outlets reporting on the "disappointing" and "unexpected" results of the U.S. payroll data, somehow find themselves using those words every time the economic data confirms the frailty of the U.S. economy, which when you remove the government props, at best show they've only slowed down the economic crisis, and at worst, and most probable, exasperated it.
Now we're almost surely going to enter into a period of more quantitative easing, which is just another way of saying the Federal Reserve is going to resume it endless printing of money.
Peter Schiff concurs, saying in a report, “It is now widely accepted that the continued domestic weakness will cause the Fed to significantly expand stimulus efforts through so-called quantitative easing. It’s a strong signal for traders to flee the dollar.”
Now that the historical inverse relationship between gold and the U.S. dollar seems to have returned, after a period of time it moved off that to a euro/gold inverse relationship, we should see gold start to rise again as the reality of the weak American economy again sinks into the minds of investors.
Gold is already responding, as it has ended in positive territory for the eight trading day in a row, moving up to $1,205.30 for December delivery on the Comex division of the New York Mercantile Exchange. That was for the most actively traded contract.
It's incredible to hear the mainstream media outlets focus on the release of census workers, which they attempt to paint as a temporary situation. Unfortunately they, in general, weren't near as aggressive in saying that when the census workers were hired and propped up the jobs market as if was on a solid foundation months ago.
There is nothing really new in these numbers, other than confirming what any discerning person already knew, and that is the private sector hasn't been hiring, and the hiring by the government for needless jobs (even without the census workers included), have created the illusion of at least a level situation. That fallacy has been destroyed with the removal of the government props and we see the American economy naked as it actually is.
I don't believe there has ever been an economic recovery in the United States, only the selling out of the future of our children and grandchildren as the Obama administration and the Federal Reserve attempt to print and spend money in order to buy time until a real recovery begins.
Unfortunately, their Keynesian strategy is backfiring, and future generations will have to pay for the outrageous stimulus programs which have done absolutely nothing to help the economy, but rather are only extending the recession longer.
Not only that, but now an increased tax burden has been added to the problem for the American people, and that should cause an even deeper rebellion and resentment from those Americans, who are increasingly discovering what these actions are doing to their country.
As far as how this affects the relationship between gold and the euro, that has started to revert to the former relationship of moving in tandem with one another, although there is little reason for that to happen, as nothing has really happened to change the sovereign debt crisis in Europe, other than the media's decision to report the crisis is relatively over.
The market is acting like there has been a real change, so while they believe it, the euro/gold relationship looks like it'll act like it has in the past.
If and when that changes, all bets are off as to how high gold prices will go, as there is really nothing in the way any longer to keep it down.
Those with discernment understand the enormous economic challenges ahead, and will invest or hold their money accordingly. Gold will remain one of the best places for safety and returns for some time to come.
Now we're almost surely going to enter into a period of more quantitative easing, which is just another way of saying the Federal Reserve is going to resume it endless printing of money.
Peter Schiff concurs, saying in a report, “It is now widely accepted that the continued domestic weakness will cause the Fed to significantly expand stimulus efforts through so-called quantitative easing. It’s a strong signal for traders to flee the dollar.”
Now that the historical inverse relationship between gold and the U.S. dollar seems to have returned, after a period of time it moved off that to a euro/gold inverse relationship, we should see gold start to rise again as the reality of the weak American economy again sinks into the minds of investors.
Gold is already responding, as it has ended in positive territory for the eight trading day in a row, moving up to $1,205.30 for December delivery on the Comex division of the New York Mercantile Exchange. That was for the most actively traded contract.
It's incredible to hear the mainstream media outlets focus on the release of census workers, which they attempt to paint as a temporary situation. Unfortunately they, in general, weren't near as aggressive in saying that when the census workers were hired and propped up the jobs market as if was on a solid foundation months ago.
There is nothing really new in these numbers, other than confirming what any discerning person already knew, and that is the private sector hasn't been hiring, and the hiring by the government for needless jobs (even without the census workers included), have created the illusion of at least a level situation. That fallacy has been destroyed with the removal of the government props and we see the American economy naked as it actually is.
I don't believe there has ever been an economic recovery in the United States, only the selling out of the future of our children and grandchildren as the Obama administration and the Federal Reserve attempt to print and spend money in order to buy time until a real recovery begins.
Unfortunately, their Keynesian strategy is backfiring, and future generations will have to pay for the outrageous stimulus programs which have done absolutely nothing to help the economy, but rather are only extending the recession longer.
Not only that, but now an increased tax burden has been added to the problem for the American people, and that should cause an even deeper rebellion and resentment from those Americans, who are increasingly discovering what these actions are doing to their country.
As far as how this affects the relationship between gold and the euro, that has started to revert to the former relationship of moving in tandem with one another, although there is little reason for that to happen, as nothing has really happened to change the sovereign debt crisis in Europe, other than the media's decision to report the crisis is relatively over.
The market is acting like there has been a real change, so while they believe it, the euro/gold relationship looks like it'll act like it has in the past.
If and when that changes, all bets are off as to how high gold prices will go, as there is really nothing in the way any longer to keep it down.
Those with discernment understand the enormous economic challenges ahead, and will invest or hold their money accordingly. Gold will remain one of the best places for safety and returns for some time to come.
Monday, June 28, 2010
How Peter Schiff is Investing in Gold
In a recent interview, Peter Schiff revealed how he has been investing in gold, along with some tips on what to avoid.
First of all, through his brokerage firm Euro Pacific Capital, he has been investing in physical gold for himself and his clients and storing it in Australia.
Concerning physical gold, Schiff recommends staying away from collectible gold like you see advertised on television a lot, as it's highly overpriced.
Schiff recommends buying real gold, and not a coin with only a little actual gold in it.
Finally, Schiff invests in a large number of mining stocks around the world, with many of them in the usual hot mining areas of Canada, Australia, South Africa and South America. He said he also has some in the United States, which among them, I presume, would be Newmont Mining (NYSE:NEM), which has been doing very well among the large gold mining companies.
First of all, through his brokerage firm Euro Pacific Capital, he has been investing in physical gold for himself and his clients and storing it in Australia.
Concerning physical gold, Schiff recommends staying away from collectible gold like you see advertised on television a lot, as it's highly overpriced.
Schiff recommends buying real gold, and not a coin with only a little actual gold in it.
Finally, Schiff invests in a large number of mining stocks around the world, with many of them in the usual hot mining areas of Canada, Australia, South Africa and South America. He said he also has some in the United States, which among them, I presume, would be Newmont Mining (NYSE:NEM), which has been doing very well among the large gold mining companies.
Saturday, September 26, 2009
Peter Schiff: Gold Could Rise to $5,000 and More
As measured against gold, Peter Schiff said in a recent interview that gold and the Dow could end up trading at a ratio of one-to-one, as against the existing level of 9.7-to-1. Consequently, gold could very easily rise to $5,000 or more according to Schiff, over the next several years.
What that means is the Dow will plunge another 90 percent from where it stands now as measured against gold.
Even though gold has risen significantly, it's still being held back by concerns that will eventually fall away when it starts climbing from between $2,000 and $3,000 an ounce.
Schiff said it could take on similar growth as tech stocks did in 1999, possibly moving up in $100 increments a day at many points.
Much of Schiff's view on gold is based on the misguided policies of the Obama administration, along with the Federal Reserve, which refused to cut back on printing money and bailing out banks and companies they consider "too big to fail."
What that means is the Dow will plunge another 90 percent from where it stands now as measured against gold.
Even though gold has risen significantly, it's still being held back by concerns that will eventually fall away when it starts climbing from between $2,000 and $3,000 an ounce.
Schiff said it could take on similar growth as tech stocks did in 1999, possibly moving up in $100 increments a day at many points.
Much of Schiff's view on gold is based on the misguided policies of the Obama administration, along with the Federal Reserve, which refused to cut back on printing money and bailing out banks and companies they consider "too big to fail."
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