Peter Schiff Admits to Losing Millions in Gold's Decline

[toathis]

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.

The price of silver will not eclipse that price level again for years perhaps decades.

 

[matt0611]

The price of silver will not eclipse that price level again for years perhaps decades.

And you know this how?

Anyway, I think most people buying gold and silver are buying it to HOLD, for years and even decades.

Peter has never advocated short term buying and trading gold and silver.

 

[Acala]

The price of silver will not eclipse that price level again for years perhaps decades.

Pure speculation, but still does not correct the falsity of your statement that people have LOST money. You don't lose until you sell. Period.

 

[LukeP]

I think Peter stated that he also traded Gold shorterm. That means he probably trades futures and based on his analysis would have been buying on every $25 drop in gold. Depending on his leverage the sky is the limit in terms of his potential losses.

 

[dannno]

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!

I think Peter stated that he also traded Gold shorterm. That means he probably trades futures and based on his analysis would have been buying on every $25 drop in gold. Depending on his leverage the sky is the limit in terms of his potential losses.

What the fuck are you talking about "losses"???

If he hasn't sold any of his gold or silver, then he hasn't realized ANY losses.

The more gold and silver he buys the better off he will be. Think of what is happening as musical chairs. The FRNs are the music, and the chairs are gold and silver.

 

[idiom]

Mark to market accounting is for losers anyway.

 

[roho76]

Join Date: Nov 2009

And 8 posts. Troll.

 

[cubical]

He has been wrong on the miners so far. He has been and was dead right on gold and the collapse of the economy. Remember, the real crash he has been calling for has not yet happened.

He has been wrong, but he has been more right than most other people you see on TV. Why pick on him?

 

[cubical]

I think Peter stated that he also traded Gold shorterm. That means he probably trades futures and based on his analysis would have been buying on every $25 drop in gold. Depending on his leverage the sky is the limit in terms of his potential losses.

LOL, you are pulling these numbers out of where? Also, where did Peter ever say he was trading gold in the short term? I have only ever heard Peter talk about the big picture which plays out over years, not weeks.

 

[cubical]

The price of silver will not eclipse that price level again for years perhaps decades.

Basing this on what?

 

[NoOneButPaul]

Basing this on what?

Dude... that happened in 1980 so it's gonna happen again... DUH!

 

[toathis]

Dude... that happened in 1980 so it's gonna happen again... DUH!

The man in your avatar just sold out to the NEO-con establishment, once again. How does it feel?

http://politicalticker.blogs.cnn.com/2013/04/23/rand-paul-faces-blowback-after-new-drone-comments/

I am just here to help. I don't want freedom loving individuals (like those posting here on TRPF) losing their wealth and property listening to charlatans like Peter Schiif, Alex Jones, Gerald Celente among others. They are salesman only and care nothing about your personal financial situation.

Peter Schiff is a scam artist. The sooner people in the liberty movement come to this realization, the sooner it can press forward.

 

[Mani]

If you are using precious metals just to park your money, then it really shouldn't matter the short term fluctuations.

I bought silver around $9-$10 back in 2007, and bought it super high around $40+ last year or the previous year.

I really don't care...I'm happy my money is diversified between savings accounts, real estate, precious metals, etc. It's just another long term asset like some land I own. I don't expect a small piece of land to make me wealthy in 6 months, neither do I expect the same from gold or silver.

These are just long term assets being parked on the side as a savings. I don't like keeping ALL my savings in USD. I have some Swiss notes, some Singapore notes, some RMB notes. ANd I dont like keeping ALL my savings in Fiat Currencies either...which is why I like some precious metals and some real estate.

I don't own much, a little here and there, but what I have, I like it to be diversified.

I really don't see this as a big deal for the people holding gold and silver as long term savings.

 

[BamaAla]

If gold takes a dump, you'll be a sage even though you waited until now to air your grievance. If it shoots back up, can expect only 9 more posts in the next 3+ years?

 

[matt0611]

The man in your avatar just sold out to the NEO-con establishment, once again. How does it feel?

http://politicalticker.blogs.cnn.com/2013/04/23/rand-paul-faces-blowback-after-new-drone-comments/

I am just here to help. I don't want freedom loving individuals (like those posting here on TRPF) losing their wealth and property listening to charlatans like Peter Schiif, Alex Jones, Gerald Celente among others. They are salesman only and care nothing about your personal financial situation.

Peter Schiff is a scam artist. The sooner people in the liberty movement come to this realization, the sooner it can press forward.

If Peter Schiff is a scam artist for advocating people hold a portion of their portfolio in physical gold and silver for the long term then so is Ron Paul because Ron would say the same thing.

We don't need your kind of "help", thanks.

Oh, and btw and you attack someone for having a Rand Paul avatar and post a video from someone with a Ben Bernanke avatar?

 

[S.Shorland]

We haven't quite reached the Dow high yet.Need to hit the HIGH before we can get the LOW.Gold has traditionally done well when stocks are low.Can't think it will be any different this time.

PLUS Mike Norman is a FOOL.

 

[KingNothing]

One thing that I don't understand is why stocks are viewed as unfavorable by so many people around here. They tend to do very well during inflationary periods, and this was predicted by Austrian economists. Gold is a good thing, but it isn't the only thing. Diversification is always the way to go, longterm.

 

[bbjaylive]

We haven't quite reached the Dow high yet.Need to hit the HIGH before we can get the LOW.Gold has traditionally done well when stocks are low.Can't think it will be any different this time.

PLUS Mike Norman is a FOOL.

Um...no. Mike Norman actually backs up his points by evidence. Schiff doesn't. He just goes on anti-American rants. Plus, Norman is a professional economist. Schiff owns a BROKERAGE firm, not an investment firm or economic research firm.

 

[PaulConventionWV]

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

It's probably true, but he did say he "lost millions," meaning the value of his stock in gold went down millions worth of paper dollars. He hasn't sold, I'm sure, but he did say he lost.

 

[S.Shorland]

Norman is a sociopath who can't take criticism.A very dangerous person who I'm very glad I don't know