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Maybe because those so called morons have been right up to this point.
I'm talking about Peter Schiff, Max Keiser, Marc Faber, Ron Paul etc - you know, the type of people who think the world is doomed if we keep continuing on the same path.
The ones who were/are laughed at when they're on TV getting interviewed by the mainstream brainwashed idiots. They've been telling everything to buy gold years ago while the mainstream was telling is was at a peak at $600/800/1000/1200/1400...
So who do you get your investment advice from?
the same Peter Schiff who lost 60-80% in client funds during the GFC? what a guru...
How brave of him with other peoples money
They made that money back a long a long time ago and now are in profit. The GFC was a planed inside trading take down, so I don't know why this should count.
planned inside trading take down?
anyone that is sitting 80% down on their accounts and has no exit strategy and marries their point of view is dangerous and simply he got lucky.Imagine how much better the would have been if he hadnt of been stubborn and got them out at reasonable prices and rebought... Read Soros' book, gives you an idea what a real money manager does.
the same Peter Schiff who lost 60-80% in client funds during the GFC? what a guru...
How brave of him with other peoples money
James Turk has alerted King World News that silver is in backwardation. Turk spoke with KWN saying, “Silver is in backwardation which is an extremely important development. Most are aware that when backwardation occurs, the spot price is higher than the futures price. Backwardation happens regularly in most commodities, but it is rare in the precious metals.”
Turk continues:
“Silver is in backwardation not just in the short-term, this time it is extending twelve months forward!
The last time this happened Eric was in January of 2009. Over the next few weeks silver rose from about $10.50 to $14.50, a roughly a 40% move higher. The key to understanding backwardation is that the price must rise to entice holders of physical metal to sell and accept a national currency in return. I think we can expect a similar event to repeat over the next few weeks.
A similar type of move would clearly put silver well above its previous high. What this backwardation shows is that there is a disconnect between the physical and the paper markets in silver. As I said previously, the silver shorts simply cannot hold the paper price down here any longer without seriously discrediting the paper silver market as a price discovery mechanism.
Gold is not in backwardation, nevertheless the demand for physical gold is extremely intense. With the sentiment indicators at very low levels, it suggests we are about to see a stunning short covering rally in gold.”
Weakness in the metals can end as quickly as it began. When the metals turn, this next move should be breathtaking.
Eric King
KingWorldNews.com
yeah. that's right. It was 2 years ago
But go back a few months and it's the same Peter Schiff who made his clients record profits - some up over 100%
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