Dean Baker Wynne Godley Fred Harrison (UK) Michael Hudson Eric Janszen Steve Keen (Australia) Jakob Madsen & Jens Kjaer Srensen (Denmark) Kurt Richebcher Nouriel Roubini Peter Schiff Robert Shiller Above are those who did predict GFC. It's immaterial if he did or did not. He has been saying that Gold will reach 2000US for quite some time now, does he not push Gold for a living? I have heard many interviews with him on King World News and it's one disaster after another just about to happen and this will finally push Gold to 2000+. I'm still waiting.
Point is Schiff knows what he's talking about as can be shown by his name appearing amongst the elite group of people above. I don't see Sinclair's name there ... so i guess his insight into the world financial system is nowhere near as keen as Schiff's is... Steve Keen is also up there... probably the leading economics brain in Australia by a long margin. I don't recall either Schiff nor Keen predicting any fixed dates when the collapse of the USD will occur, nor when gold will reprice itself, only that they will. You saying it aint happened yet so it probably wont happen is ridiculous on so many levels! :lol:
I think you have misunderstood or misread what I have posted. I have said that in the interest of others on this forum wanting to know if they should buy Gold now or not is to look long term for a positive answer. Short term NO. Schiff and Sinclair know their stuff, I'm not debating that. What concerns me is they put their interests above you me and everyone else by scaring the pants off people and advocating they should buy buy and buy now. Schiff has just released a new book that explains why he last book didn't pan out the way he said and why you should buy his new book which explains that NOW the economy will really implode and how you can make money from the bigger one coming and purchasing Gold is part of his plan. If this isn't vested interest then I should stop. In any case I have never said the world economy or the US dollar won't implode, merely the opposite. I have always said it will happen guaranteed and it will be very nasty although it won't happen just now. All the others have been saying that for years it's around the corner, and I'm very tired of it. Sinclair to this very day still pushes Hyperinflation for a reason to purchase Gold now.
The problem with all this is predicting a time frame. Will there be massive inflation -yes probably hyper-inflation- yes. Will gold prices move up - yes and will the dollar resume its 100 year fall - yes. The problem is not the direction of these events, but its the rate and time frame. Gold is an insurance policy not a get rich quick scheme. Unlike all other insurance except for life policies you can be assured that the event you are insuring against, will eventuate. The time frame is less certain. So if you stand back and look 5 years ahead it is likely, perhaps very likely this would have occurred. If you are looking at a 3 or 6 or 12 month time frame gold may not be a good play. People on this forum forget that gold has gone from $200 to nearly $1300 over a decade and this uptrend will continue. Short term who knows? The best comparison I saw is the German Mark of 1918 was worth 1oz of gold, By 1923 1 oz of gold was 1Trillion marks. Would it matter if the share prices had gone up 1000 fold or even 1 million fold ? You would still be losing value. So should you buy gold now - it depends ?? but for most people yes!
The show is being run by The Fed......The Fed make the decisions not us or the pm Permabulls.....The bulls are basically guestemating what The Fed are going to do next but they really have NO IDEA until the next ceiling debate or Qe announcement or whatever...........Bernanke does'nt even see Gold as a worthwhile investment at the moment or ever.....Apparently thers not even any gold in Fort Knox anymore and they cant even pay back Germany? Janet Yellen is 'dovish' so it is 99% chance that she will keep QE plus expand it some more because the job numbers etc are really not good.....This QE could drag on for another two years at least.....Thers even talk of negative interest rates! I have already been through a 'hysteria' phase 2-3 yrs ago after listening to Chapman, Schiff, Rogers, Sinclair etc etc and all the 'doom and gloom' ......it has cost me everything and earned me nothing......Ten years of hard work saved in the bank all down the drain because people on the internet were screaming that thers going to be a 'world financial collapse' and pms are going to skyrocket.........NOTHING has happened yet. As much as I love the internet and everyone on this particular VERY informed site......I feel i have been RIPPED OFF......It is NEVER going to happen again.......Aint gunna see me in GoldStackers again for a long time yet!
How exactly did it all go down the drain ? Even if you had done all your silver buying right at the very top of $48 (quite impossible as it was only there for a short time), you would still have half left. If you bought gold right at the very top of $1900 or whatever it got to, you'd still have more than 70% left.
O.k bit of exaggeration.....Actually quit my job of ten years and took two months break..... Should of gone on Centrelink but instead kept cashing in my pms to keep living.......I realise it was very silly now but i needed a break after working hard for ten years and wanted to get out of workshop.........It did'nt go far after two months and then a failed try at courier work with a ute i bought....Lost the job and sold the ute for less than i payed for it......This year has been horrible finacially. Luckily i sold at 1700 and not were it is now. Point is Gold just is'nt performing like some say it should......I'm steering very clear of it for a while.
Similar to the Malthusian prediction of unrestrained (human) growth - people would be dying in the streets for lack of food. In essence, he was correct but his predictions did not (could not) have predicted things like the huge leaps forward in agricultural practicses and the like.
