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Is there blood in the streets yet?
We've bottomed.. Chill..
I dont think we have bottomed out either. Peter Schiff sells gold and silver so I wouldn't trust his opinion. He was calling for gold to be $5000 by year end and that will not happen. I am a big believer in PM but some of these guys look really stupid now that the PM market has tanked.
Dead cat bounce?
Unfortunately I don't think prices have bottomed out yet. A lot of well though out arguments saying it will go to ~$1,100 before recovery.
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A large % of this decline was due to India forcing all dealers off margin for their purchases. That deleveraging is over.
Could you elaborate on this?
Peter Schiff says lots of interesting things, but he must be in difficulty because of this crash.
The lower gold will go, the more explanations Schiff will have to give.
It's quite tough for him.