Turning into quite the Schiff Fanboy, always telling me what I want to hear with logical reasoning Expects another drop in prices on Mon but with a recovery on Tues. Countries selling gold in order to pay off debt could actually be quite bullish. The gold won't hit the market at all as they'll strategically sell it off so it doesn't significantly affect the price and the Asian nations will buy it instead of US Treasuries. Interesting figures for countries gold holdings as a % of F.E.R's and some good points about comparing gold to stocks. [youtube]http://www.youtube.com/watch?v=2Si9AaWVbak[/youtube]
Good vid House, I was just about to post it as well. Peter Schiff does a great job of explaining. 18 minutes 34 secs - Intrinsic value - Use US dollars as toilet paper! :lol:
