Peter Schiff is right again! Gold is rising DRAMATICALLY! Currencies are...

Illusionz
Illusionz

Peter Schiff is right again! Gold is rising DRAMATICALLY! Currencies are collapsing and precious metals are rising! Bless this man!

All urls found in this thread:
http://www.rapidtrends.com/surving-argentinas-economic-collapse-part-1-3/
http://www.pewforum.org/2014/02/10/russians-return-to-religion-but-not-to-church/
PackManBrainlure
PackManBrainlure

Thank you based schiff

Sharpcharm
Sharpcharm

Gold always rises dramatically. Then it falls dramatically, then it either rises and falls dramatically or does nothing.

whereismyname
whereismyname

@Sharpcharm
Very true, when should I sell my shares in gold stocks?

Stupidasole
Stupidasole

@Illusionz
Based Schiff back at it again with being completely right against 1000s of meme economists

Methnerd
Methnerd

currencies collapsing
Bitcoin outperforms everything again

TurtleCat
TurtleCat

@Methnerd

bitcoin will ALWAYS outperform everything. the one exception was the fallout from that speculation bubble that came after normies realized that for the first time.

the strong dollar that results from the collapse of the eu will hurt us stocks so that's why gold is rising. however bitcoin is gold 2.0 where you don't lose a year of gains due to transaction fees like with gold.

lostmypassword
lostmypassword

@TurtleCat
the strong dollar that results from the collapse of the eu
This is just fluff. The dollar has not been strong since at least 1913. If everyone thinks Brexit caused market chaos, just wait until what happened to the GBP happens to the USD.

Playboyize
Playboyize

TFW sitting on gold ETF

King_Martha
King_Martha

@Illusionz
Gold is rising
fuck you are talking about i bought years ago and i could sell it at 15% profit. that's pathetic gold performed awfully so far in my opinion. i hope something happens like some major crisis soon because i'm tired of this underachieving yellow shit.

whereismyname
whereismyname

Should i buy gold now, or is it to high?

TechHater
TechHater

@whereismyname

buy now.

2008 Recession: Part Deux is coming.

The banks failed for a reason. Those reasons have not been remedied in the slightest. Failing banks (or businesses for that matter, which banks kind of are) should not be "bailed out", but they were, and with fiat currency.

In this way, the recession was only extended and worsened. The """"recovery"""" has been phony from day one.

The result will likely be a full blown depression, during which of course precious metals will shine brightest.

The metals themselves aren't even that great. They're elements that are nice to look at. Gold is mostly just kept in a safe or vault, or made into jewelry. It has some industrial applications.

Silver is far more industrial and useful in addition to being money. It's in thousands of things we use everyday. Even used in medicine.

But as an investment, there's no cash flow in them. They're nothing special...except when the market shits itself and their value skyrockets. It's all about cycles, and right now with a sick market propped up only by worthless paper, it's good to have gold and silver. Not contracts, since a contract on the same ounce of gold is sold to well over 100 people, but rather physical, tangible metal.

Nojokur
Nojokur

@TechHater
How many ounces should i buy?

Stark_Naked
Stark_Naked

@Nojokur

four

hairygrape
hairygrape

@Nojokur

Fuck if I know, how much money are you working with?

The portfolio of most metals investors has mostly silver, maybe 70-80%, the rest in gold.

I have over 100 oz of silver, mostly government minted coins that I got on sale for less than $2 over spot.

I have about 1.5 oz of gold.

Methnerd
Methnerd

@TechHater
@Stark_Naked
Pardon my ignorance, but if a depression does happen, then HOW do you use the metals? Assuming you have enough ounces of gold and silver with you.

RavySnake
RavySnake

@Methnerd
You don't keep physical metal, you jus take investment positions on it

Supergrass
Supergrass

@Methnerd

Roll some of it over into what will then increase in value. That's all it is, is staying a step ahead of cycles.

If the situation is bad enough, it could be used for barter as well. But if that's your concern, you should have food, medicine and guns ready before metals.

I'll leave this here

http://www.rapidtrends.com/surving-argentinas-economic-collapse-part-1-3/

@RavySnake

If you don't have it physically, you don't own it.

The number of claims sold on gold far outpaces the actual number of ounces of gold they have available for delivery. I think it's about 130 to one.

If everyone were to demand delivery, hardly anyone would get their gold; instead, as per the contract, the value of the contract would be paid out in...guess what? Paper fiat currency.

Which completely negates the purpose of investing in gold right now in the first place.

Always buy physical.

Crazy_Nice
Crazy_Nice

@Supergrass
Always buy physical.
Absolutely right! Fiat is a cancer on this world and in our societies. It will kill us if we don't root it out.

iluvmen
iluvmen

Once you have one, you just can't stop.

BlogWobbles
BlogWobbles

Sorry guys, physical gold will only thrive under total apocalyptic collapse, if we get to that point you need something you can actually use for survival , silver is king.

Dreamworx
Dreamworx

@BlogWobbles
Sorry guys, physical gold will only thrive under total apocalyptic collapse, if we get to that point you need something you can actually use for survival

Muh food, please. First of all, apocalyptic collapse is only that in the minds of over privileged dipshits such as yourself. Second, even in an apocalypse a medium of exchange will arise, and if history is any kind of barometer, gold and silver are the go-to mediums of exchange.

Methnerd
Methnerd

@TechHater
gold is also used in medicine

just a quick curiosity

Poker_Star
Poker_Star

sorry, if we reach the critical point where the banking system as we know it collapse and people still want to make trade, i don't see such a period lasting long, before the main objective of every human will be survival, silver is the best metal.

TreeEater
TreeEater

@Illusionz
Shit man, my broken clock was right TWICE today. Coincidence? I don't think so.

SniperGod
SniperGod

@TreeEater
coincidence
No, not at all. A clock can never be right, so that analogy makes no sense.

Schiff also is worth upwards of $80 million, so he is definitely right a majority of the time.

Even tho he sounds like a gold bug meme, fundamentally, he is more right about the direction of the dollar than most economists in the U.S.

TalkBomber
TalkBomber

@TreeEater
A clock is never correct anyway, a clock is just a representation of the sun , and the earth sits on tilted axis, so some days are longer than others, that why we add that fucking leap day in every 4 years, what a stupid calender.

CodeBuns
CodeBuns

@Poker_Star
if we reach the critical point where the banking system as we know it collapse and people still want to make trade, i don't see such a period lasting long, before the main objective of every human will be survival,
You've got it backwards friend. At first there will be chaos, no order. That is when survival is crucial. Of course you should prepare for this. But it wont last forever, eventually humans will get back to trading goods. This is when it would be handy to have also prepared for the inevitable and have a stock of gold and silver to trade with.

Simple history friend. Learn it sometime.

BlogWobbles
BlogWobbles

@CodeBuns
Yes, the most valuable lesson from history is perhaps that man is doomed to repeat it, witch makes me wonder how our pyramids will look like.

I think it all depends on how things unfold, i think if the banking system collapses, the people that control it have to much power to simply let it go and let us run around with our gold sacks.

Bidwell
Bidwell

@BlogWobbles
i think if the banking system collapses, the people that control it have to much power to simply let it go and let us run around with our gold sacks.
No doubt about it. That doesn't mean going along with being their slaves is justified. Unfortunately, chances are things wont end as peacefully as the Brexit did.

Burnblaze
Burnblaze

@King_Martha
Banks give 0.5% interest so you should be happy with 15% from such a safe investment

StonedTime
StonedTime

@Bidwell
anyway, i think that in such a scenario ''modern'' western civilization will collapse and a surge of religion will take it place ( when all hope is lost everyone turns to religion. in this scenario gold and silver would be used to make religious artifacts and jewelry on mass, so i guess they would be worth the same.

PurpleCharger
PurpleCharger

@Nojokur
calculate how much money you're willing to put aside as savings
divide that by the price of gold per ounce
???
that's how much gold you should buy
take whatever is left over and divide by current price of silver/per ounce
???
that's how much silver you should buy
Oh and buy only in ounces. Never buy in anything less than that, like as in grams and half ounces. You'll get the cheapest prices above spot if you buy in ounces.

Fried_Sushi
Fried_Sushi

@King_Martha
says the millennial

Emberfire
Emberfire

@StonedTime
a surge of religion will take it place
Everyone will immediately continue their practice of organized religion
Organized trade? Oh no, far too complicated for the average man to get a handle on. Only the Highly Educated can possibly understand a monetary system.
What an absurd frame of mind. How brainwashed have you become?

PurpleCharger
PurpleCharger

@Dreamworx

The basics will be sought after the most during the initial phase of a depression or outright collapse. Food, medicine, clean water, etc.

Keep in mind you'll be dealing with a lot...a fuckin lot...of welfare leeches chimping out because dem checks ain't comin' in no mo'. The single mom sluts and the pump and dumping losers will be the most fucked because they're the most dependent and the least skilled, therefore the most desperate, and therefore probably the most dangerous...which is why the most precious metal is lead.

I have a Glock 26 and a Ruger LCR 22. Small and basic. I'll get something with more power soon.

Knowing a practical trade will also save your ass. Repair and maintenance will be key, since few people will be buying anything new. Not just machinery or housing, but even clothing and shoes. I can't believe how many people don't know how to sew or patch.

Doctors too, of course. Farming is key. Hunters as well.

This world of creature comforts we live in is precarious. It hangs on a thread. Not even counting a depression or collapse, there's Yellowstone, meteors, all kinds of shit. Tariq and Saheed could take out the power grid and then we have no electricity. You get the idea.

And of course, if this were to happen, women would be directly dependent on men again. Their "independence" is only a result of generations of coddling and ease thanks to mostly useless make-work jobs (most HR and do-nothing bureaucratic government jobs are done by women) and welfare. There are exceptions of course, but this is the general truth. The result of a depression or collapse would be many women with no ability of their own in this newfound economy, who would need to find a man fast and...shocker...actually strive to be worth HIS time and effort to support.

A man with skills and metals will be that man.

Metals become more useful for barter and buying later. Skills and provisions first, metals second.

SniperGod
SniperGod

@Emberfire
I read history sometimes, i advice you to do the same, and i never said the word organized religion , i am talking about inner faith here orthodox if you want.

Fall of the roman empire

According to legends, most of Rome's religious institutions could be traced to its founders, particularly Numa Pompilius, the Sabine second king of Rome, who negotiated directly with the gods. This archaic religion was the foundation of the mos maiorum, "the way of the ancestors" or simply "tradition", viewed as central to Roman identity.

As Rome came into contact with foreign cultures, and conquered them, foreign religions increasingly attracted devotees among Romans, who increasingly had ancestry from elsewhere in the Empire. The emperors promoted the Imperial cult around the empire, and this and imported mystery religions were generally practiced alongside the official religion. Ultimately, Roman polytheism was brought to an end with the adoption of Christianity as the official religion of the empire.

Fall of the Soviet Union

Over the past two decades, since the collapse of the Soviet Union, there has been an upsurge in affiliation with Orthodox Christianity in Russia.1 Between 1991 and 2008, the share of Russian adults identifying as Orthodox Christian rose from 31% to 72%, according to a new Pew Research Center analysis of three waves of data (1991, 1998 and 2008) from the International Social Survey Programme (ISSP) – a collaboration involving social scientists in about 50 countries.

http://www.pewforum.org/2014/02/10/russians-return-to-religion-but-not-to-church/

So as you can see i am not brainwashed for linking religion and collapse of a empire.

Techpill
Techpill

So what's the best way to invest in gold?

I'm using SPRD GLD ETF because it's the largest gold-backed ETF, and Mr. Soros himself has apparently some nice long positions through GLD.

Buying actually physical gold is bad because the spot market is too inefficient IMO. You're buying at a premium and have to wait a long time to make up for the 5-9% mark-up.

Anyone have experience with bank-issued gold certificates?

Sharpcharm
Sharpcharm

@Nojokur
enough to cover 10-30% of your assets

AwesomeTucker
AwesomeTucker

@Techpill
GDX, GDXJ, and NUGT are some good gold miner ETFs that are a lot more leveraged

DUST is inverse

Stupidasole
Stupidasole

@AwesomeTucker

Why would I want more leveraged ETFs?

girlDog
girlDog

Is physical gold the way to go or invest in mining companies?

Carnalpleasure
Carnalpleasure

@whereismyname
Never, you twit! Always buy gold, never ever sell gold.

eGremlin
eGremlin

@Carnalpleasure
This. Gold is buy and hold forever. The gold I buy now is gonna be my children's gold, and my children's children's gold, and so on and so forth. The best investment is property anyway. Gold is more like a store of value that can't be manipulated by central banks. For some odd reason, gold has maintained its intrinsic value for millennia.

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