Tuesday, October 28, 2014

Is Peter Schiff Wrong on Gold?

You will notice that Both CNBC and Nations claim that I said gold would hit $5,000 in two years. But I never actually said that. My actual forecast was that gold would hit $5,000 "in a few years." A few is more than two. Two is a couple. A few just means a small number, typically three. But four could also be considered to be a few. So could five. So it's still possible that gold could hit $5,000 in a few years, which would validate my forecast! CNBC and Nations are just making up this two-year gold $5,000 forecast to make me look bad. Also I had no idea who Scott Nations was. I did not realize he was another guest. I thought he worked for CNBC

Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.

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