Peter Schiff Admits to Losing Millions in Gold's Decline

[toathis]

But he's still sticking to his guns! lol

 

[torchbearer]

you only lose when you sell for the lesser price. fallacy number one.
fallacy number two- the dollar will survive 4 trillion in government spending every year.

 

[dannno]

Peter Schiff hasn't lost any money, you're an idiot.

 

[brandon]

I imagine a guy like him is smart enough to be diversified.

Is it time for a "Peter Schiff was wrong" video? He's been claiming $5000 gold for at least 5 years now.

 

[gwax23]

Golds been up for 12 consecutive years. This slight drop is being exaggerated. Peter Schiff will be laughing in the end.

 

[dannno]

This slight drop is being exaggerated.

Only by people with infinitesimally short memory.

 

[toathis]

Only by people with infinitesimally short memory.

WHere is his Hyper Inflation? Dollar Collapse? DOW 2000? Bond Implosion? Asian Decouple? Double-Digit interest rates?

DOW All time Highs, Dollar Stable and Rising DXY .83, Inflation < 3%, Bonds Historical Lows, Unemployment 7.7% and falling, Silver Down 52%, Gold Down 25%, Gold Miners Down 51%, Silver Miners 50%, Oil Down 40%, Base Metals Down 47%, Agriculture Down 42%

I posted this video for all the Schiffbots that follow this man blindly based mostly on the fact he was Ron Paul's economic adviser in his 2008 presidential bid. These young people that follow and listen to Schiff's radio show were told not to worry about mortgage payments as inflation would wipe out the debt. Ditto for student loans. Buy gold all the way up to 1900.

People need to be held accountable for statements they make especially if they make false claims and attempt to walk it back

 

[Toureg89]

Peter Schiff hasn't lost any money, you're an idiot.

This. if he owns gold, that means he exchanged FRN's for an ASSET. if the value of has gone down, but he hasnt sold the asset yet, he hasnt lost any money.

he is a LONG TIME HOLDER OF GOLD, NOT A SPECULATOR TRYING TO TIME THE MARKET.

if you dont think gold will still go up in the long run due to QE, then yes, you ARE an idiot.

 

[dannno]

WHere is his Hyper Inflation? Dollar Collapse? DOW 2000? Bond Implosion? Asian Decouple? Double-Digit interest rates?

DOW All time Highs, Dollar Stable and Rising DXY .83, Inflation < 3%, Bonds Historical Lows, Unemployment 7.7% and falling, Silver Down 52%, Gold Down 25%, Gold Miners Down 51%, Silver Miners 50%, Oil Down 40%, Base Metals Down 47%, Agriculture Down 42%

I posted this video for all the Schiffbots that follow this man blindly based mostly on the fact he was Ron Paul's economic adviser in his 2008 presidential bid. These young people that follow and listen to Schiff's radio show were told not to worry about mortgage payments as inflation would wipe out the debt. Ditto for student loans. Buy gold all the way up to 1900.

People need to be held accountable for statements they make especially if they make false claims and attempt to walk it back

Why don't you simply listen to what Peter Schiff says for the answers to your questions?

He predicted the housing crash in 2008 and said that the real economic crash would result from the government's reaction to the housing crash - which was to once again print money and try to prop up the economy. The economic data you are citing - the stock market being up - is a result of the government attempting to prop up the economy. Great, so the stock market is up. How is unemployment, especially among young people? How is student debt? How is total debt, including government debt?

Do you really think we have diamonds and rosé in our future, or are you the one with rose colored glasses on?

 

[gwax23]

Plus at least Peter Schiff puts his money where his mouth is. Hardly a bad thing.

Everything hes predicted he still backs and supports. He hasnt changed his tone or position. He is putting not only his money but his reputation on the line for his predictions which as mentioned by other posters has a track record of becoming a reality (see 2008 crash)

This small drop is meaningless. 12 years of solid returns...no one says anything. The slightest drop "HAHAH TOLD YOU SO" The feds and goldman sachs are manipulating the market with the media to bring gold down. The stock market securities prices are inflated since QE3 was launched back in September. 80 billion a month the fed is pumping into the system to inflate the stock market.

Now is a buying opportunity for gold that may not come again.

 

[Cap]

Troll/sock puppet account?

 

[ronpaulfollower999]

Peter Schiff has probably been buying gold since $250/oz. When he said he lost millions, he probably means he went from being up $10 million, to up $7 million.

 

[toathis]

Troll/sock puppet account?

Join Date: Nov 2009

 

[toathis]

Peter Schiff has probably been buying gold since $250/oz. When he said he lost millions, he probably means he went from being up $10 million, to up $7 million.

What about those that bought Gold in early October of 2012 based on his advice to "buy before it's too late"



The closing price for silver on that day was $33.50. Today silver is $22.

Following that advice you would have lost almost 35% percent of your investment.

I'm tired of those claiming he was saying buy at $5 ten years ago. HE is on record (video above) telling you to buy!

 

[The Gold Standard]

Why do you care? You don't have to buy metals. Enjoy your Federal Reserve notes. Everything is going to be okay. People will accept them forever.

 

[AFPVet]

LOL.... I just wonder how long they will be able to suppress gold/silver. They can't keep propping up the dollar forever.

 

[ctiger2]

WHere is his Hyper Inflation? Dollar Collapse? DOW 2000? Bond Implosion? Asian Decouple? Double-Digit interest rates?

DOW All time Highs, Dollar Stable and Rising DXY .83, Inflation < 3%, Bonds Historical Lows, Unemployment 7.7% and falling, Silver Down 52%, Gold Down 25%, Gold Miners Down 51%, Silver Miners 50%, Oil Down 40%, Base Metals Down 47%, Agriculture Down 42%

I posted this video for all the Schiffbots that follow this man blindly based mostly on the fact he was Ron Paul's economic adviser in his 2008 presidential bid. These young people that follow and listen to Schiff's radio show were told not to worry about mortgage payments as inflation would wipe out the debt. Ditto for student loans. Buy gold all the way up to 1900.

People need to be held accountable for statements they make especially if they make false claims and attempt to walk it back

This macroeconomic stuff takes YEARS AND YEARS to play out. The timing is the hardest part because noone knows what nutter policy moves these psychopaths will make next. The Austrians will be right in the end. Sure, nominally the DOW is at an all time high but if you measure it in Gold it's actually... DOWN bigtime. Go back to '03 and buy Gold for $300. Is $300 more or less than $1,400? What was the DOW when Gold was $300? HAHA!

 

[Toureg89]

but he hasnt sold the asset yet, he hasnt lost any money.

he is a LONG TIME HOLDER OF GOLD, NOT A SPECULATOR TRYING TO TIME THE MARKET.

if you dont think gold will still go up in the long run due to QE, then yes, you ARE an idiot.

What about those that bought Gold in early October of 2012 based on his advice to "buy before it's too late"



The closing price for silver on that day was $33.50. Today silver is $22.

Following that advice you would have lost almost 35% percent of your investment.

I'm tired of those claiming he was saying buy at $5 ten years ago. HE is on record (video above) telling you to buy!

read above you...

 

[LibertyEagle]

Goldman Sachs Just Covered Its Gold Short

http://www.businessinsider.com/goldman-sachs-covers-gold-short-2013-4#ixzz2RISE6lnw

 

[Acala]

What about those that bought Gold in early October of 2012 based on his advice to "buy before it's too late"



The closing price for silver on that day was $33.50. Today silver is $22.

Following that advice you would have lost almost 35% percent of your investment.

False. If you had purchased when it was $33.50 and THEN stupidly SOLD it at today's price, then yes you would have lost some of your investment. Otherwise, not at all.