Peter Schiff explains how to *exit* a gold boom

[DadaOrwell]

Dr. Doom was in New Hampshire for the more-or-less annual Liberty Forum. I question some of his projections in an interview but also get his advice on how to get OUT of gold when its prices near peak.

http://www.youtube.com/watch?v=gkzwaOuprDA

 

[ronpaulfollower999]

Exit gold? Nah…I'm holding on to mine, but I'm not into making a profit.

 

[Seraphim]

There will be a time when it will be foolish to retain it (when gold tops, property/land bottom, for example).

That time WILL NOT come until a new currency is issued.

Denominated in USD, CAD, EURO in their current forms - there's no point selling PHYSICAL gold/silver. No amount of our modern currencies will convince me to sell it unless systemic debt write downs (INCLUDING HOME OWNER MORTGAGES) occur. Since that won't happen. Don't sell until new currencies emerge.

Exit gold? Nah…I'm holding on to mine, but I'm not into making a profit.

 

[cubical]

I am buying lots of beach rental properties. At least that is the plan.

 

[Schifference]

Maybe I am wrong but to me Peter looks like he is working on a pretty good buzz.

 

[The Goat]

I believe your right. hiccup

Maybe I am wrong but to me Peter looks like he is working on a pretty good buzz.

 

[Jordan]

I believe your right. hiccup

Had to have been mixed drinks. That heartburn will be awful in the morning.

 

[Blueskies]

Denominated in USD, CAD, EURO in their current forms - there's no point selling PHYSICAL gold/silver. No amount of our modern currencies will convince me to sell it unless systemic debt write downs (INCLUDING HOME OWNER MORTGAGES) occur. Since that won't happen. Don't sell until new currencies emerge.

Or competent Fed leadership. Volcker was able to control inflation and destroy the price of gold just by acting intelligently.

 

[cubical]

Or competent Fed leadership. Volcker was able to control inflation and destroy the price of gold just by acting intelligently.

We could afford high rates back then. Bernake knows if he was to raise rates he would send us into a 1903s style depression and the US gov would default. We have thoroughly destroyed our savings.