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Fly on the wall Join Date: Feb 2013
Posts: 44
Liked: 10 times | Gold Price 2014 Prediction & Outlook - Peter Schiff Whats your thoughts on it? Do you agree with him? |
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Moderator ![]() Join Date: Oct 2011
Posts: 1,059
Liked: 459 times | I simply don't think it makes much sense to put your metals with a custodian. What's the point of owning gold if you aren't getting rid of counter party risk? If you are going to own anything gold in your ira, go with the mining companies. Keep your stack separate. I also don't think IRAs are going to continue to exist in their present form. I fully expect they will confiscate IRAs, pension etc.. Either overtly or by forcing us to buy bonds or something. Last edited by DSAbug; 05-14-2013 at 10:49 AM. |
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Ground Beetle Join Date: Nov 2011
Posts: 971
Liked: 554 times | Good points by Schiff re: fundamentals, although one thing to point out - "people are going to want to store their savings in REAL money, something that preserves purchasing power despite the inflation" - that's rather thin argument. How does it preserve purchasing power, as measured in "worthless fiat", if it goes DOWN, as measured in "worthless fiat", despite the inflation??? LOL Although I agree with him, I believe that this is just a correction (although, a big one), and all the reasons that made me to turn to precious metals two years ago, are still in place - only, much more today ![]() "DOW closes above 15k. Repeat after me:This is not a bubble. This is not a bubble. This is not a bubble. This is not a bubble. " ![]()
__________________ “...the issue which has swept down the centuries and will have to be fought sooner or later is the People versus the Banks.” Lord Acton |
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Fly on the wall Join Date: Apr 2013
Posts: 37
Liked: 8 times | Well, good predictions and foresight by Peter Schiff, however, with the current trend be it gold, silver, stock, etc…one can’t really stay happy investing in just one market but plan asset allocation and withdrawal plan smartly. |
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