Schiff was treated as a joke by his two interviewers, which is just fine by me. Gold has paid my bills since 2001, and the attitude from those media hacks, typical of the way that the media treats UFO nuts, confirms to me that gold can continue climbing for some time to come before the final blow off.

I wish I had the courage (or the stupidity) to stay long for £5000/oz, but I’ll be half cashed in well before then.

Have the courage of your convictions – but your comment is spot on – so these interviewers think the US dollar has a future…based on what?

I like this Peter Schiff guy. He’s a good entertainer and irrepressible. He relishes these guys laughing athim because most of what he has said in recent yeaars has come trrue. He does keep touting his book ‘Crash Proof’ but any book that has a cover with a cartoon of a piggy bank being struck with a gigantic lightning bolt has to be worth buying for that alone! He has a sense of humour, dealing out doom and gloom predictions with an enthusiastic, witty, even lighthearted approach.

The stock charts that I have been watching since New Century Financial went bust in early 2007 and Countrywide broke out of its trading range late last year are now getting unbelievable. One British bank’s shares are down 99%, even more than Northern Rock before it suffered a bank run and had to be bailed out by the Bank of England. In the USA, Fannie and Fredie GSE stock charts are scary, truly scary. These are not some tin pot little regional bank – they are truly enormous! There seems to be a resemblance between so many of these stock charts and that of Enron in 2000-2001.

I reckon with a combination of dolalr depreciation and peak oil, oil will be $1000 not so far in the future. I don’t know about gold. If gold goes to $10,000, it will be mainly US dollar depreciation that causes it.

Really, gold could go to any price. Suppose the Fed has to monetise the hundreds of trillions of derivative positions. Money supply could increase 10x to 100x to achieve this and with it price inflation.

What happens this next week post 13th July 2008 with regard to Fannie or Freddie could give us the answer. The wheels are falling off the wagon!

My expectations:
2 dollars to the Euro soon (while the EU stays together);
$1000 oil in the next decade;
$5000+ gold, maybe $10000 in next few years;
Western currencies (pound, dollar) to be depreciated beyond what anyone could expect;
China to float the Yuan currency at some point eventually to 1:1 with US Dollar;
Some other Asian currencies to rise 5 to 10x against western currencies, maybe much more;
Asian wages to even up with Western wages in next 20 years in purchasing power terms, perhaps even in currency exchange rate terms.

Dave B.
http://1000gold.blogspot.com

For gold and silver it is just a matter of holding for three to five years – and not panicking on every set back or rushing to sell when there is a small gain…the long term results will be excellent, and come in just about when equities and real estate bottoms – so you can sell and reinvest.

http://arabianmoney.net/2009/01/24/lower-energy-prices-will-fuel-gold-miner-profits/