Schiff says "Gold Moonshot"

[IdahoCopper]

See:
http://www.cnbc.com/id/101390063

"The CEO of Euro Pacific Capital and a famous fan of gold, Schiff predicts that it will skyrocket once the Fed reverses the process of tapering quantitative easing and instead chooses to stimulate further so as to improve the economy. "

[beauanderos]

He must not be a proponent of manipulation theories. The FED has unlimited amounts of money that it can create to fund it's proxies who suppress the prices of silver and gold. Why would they even care if they had another
trillion in losses? It's just a touch of a finger on a keyboard to them, the amount is meaningless... if it keeps the status quo intact and keeps the elite in power. The only thing is... the elite will soon have to all speak Mandarin or Hindi.

In a few years, they'll be able to film Slumdog Millionaire, the Sequel... shot in New York. About a once billionaire hedge fund manager who scoffed at the notion of dollar hegemony losing its crown and the need for barbaric relics to protect from just that happening.

[beauanderos]

"As I write, fiat currencies around the world are sinking. Normally when this happens, gold will surge. But rising gold would be a red flag waving in the Fed's face, and there's no doubt in my mind that the Fed has been manipulating gold and preventing its rise.



Question -- will Janet Yellen pursue the same course that Ben Bernanke has chosen? Or will she finally take the Fed's heavy hand off gold? My guess is that she will follow in Bernanke's path and manipulate gold while continuing to print Federal Reserve notes by the trillions.

- Richard Russell, King World News, February 4, 2014

[blackrabbit]

Of course a moonshot will happen someday, that is an easy prediction for someday is near meaningless. He "guesses" that by the end of the year it will be higher possibly much higher. Not much prediction there.

[theo]

http://www.cnbc.com/id/101390063

His call on gold was a good one for several years, before it staged a reversal while Schiff kept his opinion on the metal static. But he blames 2013's 30 percent decline on investors' inability to see the truth he perceives clearly. Because as the Fed buys assets more quickly (the opposite of what the central bank said it plans to do), the inflation Schiff has long called for will finally be created, leading gold to soar.

I also agree that gold will have its day. I used to like Schiff and was impressed with his very accurate prediction of the 2007/2008 housing bubble implosion. But like most hard money advocates he never saw the massive PM declines since 2011. I'm further disappointed by his depressingly simplistic explanation of the PM collapse. If after 17 trillion in debt and several rounds of QE, investors are still not convinced of gold's true value what makes him think reversing the taper will make a dent?

Here is my prediction. Gold and silver will reach their true value about 6 months after we stop seeing articles with titles like "Gold is About to Explode!!!!" You heard it here first kids!

[coincrazy]

Priced in what? 1oz == 1oz. Schiff sees the dollar bubble popping as the cause of gold increasing when priced in dollars. He isn't advising people to trade on gold but to own it so there is no reason for him to "predict" 2013 or down turns if you're stacking and holding for a long term event.

Every time he is on these shows or in the press the ignorant media always tries to get him to pin down a date or prediction but he states very clearly in context that is impossible to know or determine.