If you watch any Schiff videos right up till today, he is still maintaining his prediction without blinking his eye lid! The rest of your reasons apologising on his behalf is poppycock. Granted I only listen to him to understand why he is seeing things that way based on some economic logic.
As you can see I don't put much faith in anyone's prediction of price or events. The future is too randomised by events that can or cannot happen so just one branch of the key event does not come true can sway outcomes completely different to anticipated.
A lot here is commenting based on these clowns. I read Jimmy Rickards latest book "A case for Gold". I thought it was dramatic on his prophesy then right at the end he recommends not more that 10% of your portfolio in physical gold! Where is the other 90% suppose to go to? Yes 90% of the portfolio I suspect is invested in Equity, property, fiat ccy, index etf or such like sectors? So he is saying dividend paying assets are where your majority of exposure should be?
QE as I was told was hyper-inflationary but history has proven it is not. So the goldbugs turn around and say debt implosion will happen. They including Schiff said that Feds CAN NEVER increase IR but they did. He also said this will crash the equity market and/or the real economy. The probability of a rate rise in December is almost 1 and if I look at the DJ/SP500, I see it powering up. This does not tell me the market thinks the US economy is about to fall off the cliff.
I won't go to any other details but I think you get my drift. Why is gold price where it is? Simple question but an impossible answer using the conventional rules of economic logic. What I do know is that QE experiments does have an unpredictable logic on economic theory so my guess is that US economy and for that matter global economy can sustain on more expensive money.
Whether gold is going to 800 or 5K I don't care as long as it is heading in either direction. Nothing worse then to be stuck in a congestion. Trade with the trends and not what you think but see. Good luck.
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