Gold and Silver: Load the Boat-Back Up the Truck-Peter Schiff

th_PeterCutoutGreg Hunter’s USAWatchdog.com 

For anyone who sold physical gold in the current precious metal downturn, money manager Peter Schiff says, “There’s going to be a big problem because the gold they sold on the way down isn’t going to be available on the way back up because the people who own it aren’t going to sell it at any price. . . . This is the time to load the boat, to back up the truck.”  Schiff is a longtime advocate of precious metals and has taken much criticism in this downturn.  Schiff answers his critics by saying, “The people who are always making fun of me every time there is a pullback are the ones that never bought gold in the first place.  Even though it’s pulled back, it’s still a lot higher than it was when they first started laughing at me for buying gold.”  Talk of a new Fed Chairman to replace Mr. Bernanke will only be bullish for the gold price.  Schiff predicts, “If it’s solely based on which Fed Chairman is the most bullish for gold and silver, I would say that would be Janet Yellen.  No matter who’s put in at the Fed, they are going to keep printing because that’s all they can do.”  Schiff warns, “They’re going to keep printing until we have a currency crisis . . . and that is the most bullish environment for gold.  Don’t wait for the crisis to buy because you are not going to like the price.”  Join Greg Hunter as he goes One-on-One with Peter Schiff, CEO of Euro Pacific Precious Metals.  

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Comments
  1. Mitch Bupp

    Hold onto “Precious” ….. I agree. There are real shortages which are being ignored because of the paper GLD market… In the end it always comes back to gold and silver….

    When the markets turn there will contagion everywhere with no place to hide…. Just hope you don’t have much money in the bank. Paper is poised to take a fall and reshuffle the economic table worldwide. The only question is what will TPTB blame the economic collapse without angering the masses and rally their support?

    Thank you Greg and Mr. Schiff

    • Greg

      Thank you Mitch Bupp for your comment.
      Greg

  2. Fraser

    Thanks Greg…

    But when has it ever been “better to be five years early than one day late”? I think that Peter’s constant enthusiasm is influenced more by his business of selling gold, than any real insight.

    For example, his last call on your show was not exactly well timed:
    22-Mar-2013 : “Gold has only one way to go – Up”

    Don’t get me wrong, I love the way he thinks and I respect the millions he is making and I know he will be right (eventually), but at the same time I am sorry that I ever listened to him on timing…

    • Greg

      Fraser,
      That’s why I brought it up. That is a legitimate criticism. Gold and silver are not trades they are core assets that you hold until it is the last thing you have to sell. Thank you for weighing in here.
      Greg

  3. Johan Taarg

    Greg,

    Supporting Schiff, here’s an article about Karen Hudes, the World Bank’s
    Sr. Counsel & whistle-blower. You really ought to do a piece with her,
    she’s a real insider. Sounds like precious metals will back currencies again.

    http://www.silverdoctors.com/world-bank-whistle-blower-precious-metals-to-serve-as-an-underpinning-for-paper-currencies/

    https://twitter.com/KarenHudes

    • Greg

      Johan Taarg
      Thank you for the perspective and link. Au and Ag are simply core assets and not trades.
      Greg

  4. Tady

    A bird in the hand is better than two in the bush!

  5. Silver Gonzales

    Great Interview and such clarity. This site rocks. But please tell me why have you not invited Mr. Charles Savoie to your site? Jeff Nielson had an excellent interview with Charles on his site.

    • Greg

      Silver Gonzales,
      Looks like I’ll have to invite Mr. Savoie sometime in the future. Thank you for the interview idea.
      Greg

  6. ChineseWilfong

    Peter Schiff is a smart guy. I liked the quote – “I think Yellen is a worse choice and that is why I think Obama will go with Yellen.”

    Good stuff

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