Son, you need to take a quick peek here at this Peter Schiff vid from youtube that Jag found. My reply to him is below his post.
Jagman Date: Thursday, November 20, 2008 6:15:55 PM In reply to: shouldasold who wrote msg# 32719 Post # of 32727
I think the markets are gonna get worse before they get better. Peter Schiff was on Fast Money tonight...dollar gonna weaken, gold $2000 next year, other countries will stop buying our debt, and we have to get back to a manufacturing base to reestablish two-way trade with other nations... I'm sticking with short term plays only on the up-side moves.
Peter Schiff:
Posted by: starboy Date: Friday, November 21, 2008 12:53:54 AM In reply to: Jagman who wrote msg# 32721 Post # of 32727
Glad you mentioned Peter Schiff was going to be on Fast Money. Nice synopsis of what he went over as the main issues, with the crew there.
Makes me feel better about holding these silver positions of mine, but not so great about American's in general having to finally pay the piper for the credit, debt, and consumption phase of the last decades.
I see his point of the dollar collapse when foreigners get tired of paying for our spendthrift ways, and realize we can't pay them back at this point. Gold $2000 is now not out of the realm of possibility. And don't forget, some of this info being digested lately, has been predicted for a long time now.
Schiff made mince meat, with his predictions winning out, over the snide objections of the other financial pundits back in those 2006-2007 interviews stitched together on youtube.
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