Are we going to see sub $20 silver again this year?

I vote no, but who knows. If I knew I would be rich in addition to being good looking.

 

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If silver stays below $20 that means that there isn't much inflation. We win with lower food prices, and with a reasonable price for all the necessities of life. If silver goes up, then we sell some silver which we can use to pay for the things which just got more expensive. I think of silver as a hedge.

 

It may dip below 2o this week

 

Unfortunately there has been inflation at least in my area in the last two years, yet silver prices have dropped during that period.

Silver doesn't seem to be a great indicator of inflation in the greater economy.

Silver went from $4 to $49 from 2000-2011, was there anywhere near 1,200 percent inflation during that time?

Just my 2 cents, as I don't see the correlation. I think that the money printing going on will eventually take its toll and lead the silver prices higher, but who knows when that'll start to take effect.

 

The guy is a clown, to say equities are a bubble, when the S&P is trading at a 19 multiple is ridiculous. A tad pricey, maybe, but a bubble, absurd. The only thing going on here is Ben is easing into the taper. The taper will happen most likely next month, but Nov. at the absolute latest. As for PM's, not a friendly environment, and they will continue to slide.

There will eventually be a good time to purchase metal, but not today.

 

I don't know if it will dip below $20, but it's getting perilously close. It's at 21.80 right now. We'll see how it starts out on Sunday night.

 

Schiff is a perma bear on US Equities and the USD, On the flip side he is a perma bull on Commodities, Foreign Stock, and Foreign Currencies. When you have the same line for over 30 years, you will be right some of time since all these things run in cycles. There will be a time when he is right again. Overall though, his bearish views on US stocks has been a losing strategy that has caused his followers to have a lot less jingle in their pocket.

See if you can find a clip where Schiff predicted the scorching bull run in US equities from 2008 til present, now that would be impressive, but you cannot.

 

to be fair PS was spot on

 

Oh really got any evidence? So he was making predictions at the age of 20?

A losing strategy? Are you out of your mind? Clearly you have no idea what he is investing in if you think its been a losing strategy so do some research before making uninformed postings.

 

Clearly you mis-understood. The losing strategy is for his followers, not him. Peter Schiff has been very successful. He had made an entire career out of being DR DOOM. They trot him out on a regular basis on the financial shows because of his unconventional views. Mostly for entertainment value. He has a vested interest in being a USD/US Equities bear. That is his schtick, his character, his MONEY MAKER.

You say I have no idea what he is investing in? Pretty sure he wasn't betting against US Equities long term. They just reached an all time high last week and are still one of the best, if not THE best performing asset classes year over year. Like I said, it should be clear to everyone that being a US Equities bear was a losing strategy, not sure what other evidence you would need. See how this works, he makes a fortune being DR DOOM, his followers get the shaft.

 

Yes, I already admitted that, but it is no great feat when you are a perma-bear. He was right then, and he will be right again as soon as we enter the next down cycle. As sure as the sun will come up tomorrow, the US will someday go into recession once again, and once again, Peter Schiff will be bragging about it how he called it 5 years ago, or 10 years ago, or whatever.

Interesting enough, in one of his books (forgot which one), he tries to make the point that he is not the broken clock that is right twice a day, but that is exactly what he is.

Just as a note, it is not just the perma-bears I have a problem with. It is also the perma- bulls. I never cared much for Abby Joseph Cohen either. She made a career out of being "Abby the Bull". I mean if she always says that US Equities are a buy, How do you know? Not very helpful if you are looking make some cash.

 

He's been a big proponent of gold investment.

In last 10 years DJIA is up a little less than a 100%. Gold is up 245% despite the large recent correction.

What happened before that doesn't matter because he was not around advocating things then. Maybe he would of advocated stocks then.

Schiff began his career as a stockbroker at a Shearson Lehman Brothers brokerage.

So yeah he does understand the stock market, or do they hire perma-bears as stockbrokers?

http://en.wikipedia.org/wiki/Peter_Schiff

He has been more right then wrong and that is really the best you can do as a predictor as none of them get it right every time.

 

Really, While Schiff "claims" to be a Gold Bull since $300, the facts, and the internet disagree. The reality is Schiff got to the Gold game in the 7th inning. His first bull call on gold seems to be in 2008 when gold was already flirting with $1000. The call by the way was for gold to hit $5000 in the next few years. I really can't say he got that one right. Also, even into 2009, he was still only recommending 10-15 % Gold for his EuroPac Capital clients.

BTW, it is widely know, that even with Schiff's collapse prediction, the EuroPac clients took a whooping. Guess he didn't have them in the right stuff, but hey who cares if your clients make money as long as you make money on the fees.

Now in 2010, Schiff became truly bullish on Gold, yeah, way late but that is when he opened his company EuroPac metals and he became a Gold dealer. What a coincidence that he becomes very bullish the same time he starts selling Gold. Again, it should be obvious, he clients don't do so well, but he still makes money. You see, he was recommending buying gold, but he was making money by selling gold. Who knew?

As far as his predictions, don't make me laugh. In addition to his $5000 gold prediction, he also made a $300 barrel of oil prediction, plus a DOW 1400 to boot. These are just a few. I guess if you throw enough stuff at the wall.....

And finally, the only thing a brokerage firm cares about is if you can sell assets, which I am sure Schiff did very well at since he can shovel it with the best of them

 

You doth protest too much, I think you are jealous of Peter's success but that is just my opinion.

 

Nope. The only sub-$20 "choice" is predicated on Syria not being bombed. I disagree with that. If we bomb Syria, I still think silver will drop.

 

I'm going to sound psychotic saying this...

I believe stocks are always a buy (if I'm buying at all), assuming you don't need the money for a while (10+ years). That said, we *might* be in an equities bubble, even at 19 times earnings, IF earnings are in a bubble. Due to GAAP standards pushing for valuation of contracts upon receipt, instead of when signed, it's entirely possible that audited earnings are a two-year trailing indicator. I think we need to start considering reporting season earnings QoQ instead of YoY to account for rapidly decelerating/accelerating trends. That's why we keep getting such extreme misses/blowouts. It's not entirely due to under-/over-reporting by firms. Moreso it has to do with non-standardized reporting methods.

All that said, I don't think we're in an equities bubble right now, since I believe we're in a currency bubble. Once that pops, we'll see the equity bubble deflate prior to popping.

 

In my part of the country the economy seems mighty strong right now- not sure how it is nationwide though.

 

I may agree with Mr. Schiff on a few things, but His track record is anything but stellar.

In Dec. 06 He stated that interest rates would go higher....and they did....in 2011. What about 07, 08, and 09? Are we to ignore those years and give him credit for a prediction that took over three years to come to fruition?

Jan. 09 He predicts that the dollar will lose up to 50% of its worth.......Idk where to even begin with that one.

Later on that year He predicts that gold will hit the $5000 mark......see prior comment.

In His Aug. 2010 video He predicts that America wont last on its current path and We will see catastrophe in 2012.....What year are We in now?

Like I stated earlier in this post.....I do agree with some of His thoughts and predictions, but I have to remind myself that even a busted clock is right twice a day. This economy is anybody`s guess. I try to prepare myself for multiple scenarios without losing too much sleep about the upcoming "doom & gloom."