Peter Schiff was WRONG!!!!

[AngryCanadian]

Fact is the Market is rigged.

 

[A Son of Liberty]

Housing prices:

http://seekingalpha.com/article/245203-the-truth-about-the-u-s-housing-market

Gold prices:

http://www.kitco.com/charts/livegold.html

Look familiar? One is a bubble and one is not?

Housing naturally returned to its pre-bubble prices, a bubble the Keynesians advocated, advertised, pumped and delivered. Gold is as subject to manipulation as any other good on the planet, but you'll note that $1200/oz is still a helluva lot more than people were paying 13 years ago when our Wise Overlords began openly and in earnest to suck the value out of the FRN. So, no - it doesn't look familiar.

If gold is money, can you take it to a store and buy stuff with it? If no, then it isn't money. It is a commodity.

That's only true because of legal tender laws, not due to the nature of gold itself.

Oops! Looks like you forgot to respond to dannno. I'm sure that was an innocent oversight.

Because surely no one as intelligent as yourself would fail to realize that the only reason you cannot carry a gold coin into a store to make a purchase is OBVIOUSLY "legal tender" "laws", right? RIGHT!?

Right.

 

[DamianTV]

If gold is money, can you take it to a store and buy stuff with it? ...

Okay there Ben Bernanke. Why dont you just go print up some more fiat currency and steal the value of the existing currency for yourself? It is people like you that perpetuate this ponzi scheme economy, and I suspect greatly that you stand to profit heavily from it. Its also why very few here believe a single statement you make. You forward their agenda, and the ideas you propose are more dangerous than standing armies because you are an ENABLER of the biggest scam in human history.

You are an Enemy of Liberty, Independence, and real Freedom.

 

[Zippyjuan]

Housing naturally returned to its pre-bubble prices, a bubble the Keynesians advocated, advertised, pumped and delivered. Gold is as subject to manipulation as any other good on the planet, but you'll note that $1200/oz is still a helluva lot more than people were paying 13 years ago when our Wise Overlords began openly and in earnest to suck the value out of the FRN. So, no - it doesn't look familiar.





Oops! Looks like you forgot to respond to dannno. I'm sure that was an innocent oversight.

Because surely no one as intelligent as yourself would fail to realize that the only reason you cannot carry a gold coin into a store to make a purchase is OBVIOUSLY "legal tender" "laws", right? RIGHT!?

Right.

Gold and Silver Eagles are legal tender at their face values. From the US Mint:

http://www.usmint.gov/mint_programs/american_eagles/?Action=american_eagle_gold

American Eagles are imprinted with their gold content and legal tender "face" value.

http://2008silvereagle.com/are_american_silver_eagle_coins_legal_tender.htm

Since they don’t circulate and weren’t issued through banks, are silver eagle coins “legal tender” for all debts public and private, like paper money?

According to research done by Numismatic News*, even though the face value is well below the market price of US eagle coins, these coins are ‘legal tender’ for all debts public and private. The legal tender value is the amount printed on the coin (not the metallic value).

American Eagle coins are legal tender

In today’s market a person would be considered foolish to spend a silver eagle dollar for its $1.00 face value, although you could technically do so. However, why spend a silver eagle dollar for $1.00 when you could sell it for many times that for the silver that it contains?

 

[A Son of Liberty]

You're trying to get off on a technicality, while ignoring the rest of the points. Transparent.