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VC
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VC asked in Politics & GovernmentPolitics · 1 decade ago

Do you believe Gold will hit $2000 an ounce?

Peter Schiff predicted the housing crisis. Peter Schiff Predicts that Gold will hit 2000 by the end of 2010. It is not that Peter is a physic, it is the fact the guys like him and Ron Paul study Austrian Economics and not Keynesian's like Obama, Summers, and Greenspan! Tax and deficit spending has never worked and will continue to kill our currency and living standard! Once the world drops the dollar as the reserve currency there will be hell to pay! At the G20 summit coming up one of the talking points will be a new global currency... It is almost as if this crisis was engineered to implode American citizens freedoms and reform us to a New Global World Order!

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  • 1 decade ago
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    Yes I do and I am invested in it and have been for a while not as long as Gordon Liddy but a few years

  • When the US government collapses even a loaf of bread will hit $2,000, and maybe even $50,000. In a desperate attempt to save itself, the government will run the printing presses overnight, cranking out a deluge of dollars. Hyperinflation will drive up the cost of everything. Gold could easily hit $50 trillion an ounce by the time the government goes under.

    One of the first definite signs this will happen is when the government authorizes a companies other than the Bureau of Engraving and Printing to start printing US paper money. With the BEP presses already running 24/7, it may not be enough to satisfy government demand for more money and it may have to turn to other vendors. When this happens price rises should already be apparent. Already you see the price of gasoline edging upward for no apparent reason, and this is because of government overprinting of money. This is only the very beginning; price of gas could run into the billions of dollars a gallon before all is said and done.

  • 1 decade ago

    sure it will, eventually. Thirty years ago, during the hostage crisis, gold shot to 800 an ounce but fell to 300/oz when the commodities market collapsed in dec, 1980. The same thing may very well happen again, and it will be spurred by brokers pushing gold and speculators fueling the move. Just like last year when oil/gas prices rose quickly and we all paid $4/gal for gas, then dropped when speculators dumped their futures contracts. Same scenario is set for the gold market and tons will try to get rich quick, only to lose their money. I know, i was a commodities trader back then. Be careful, it will be a scary ride once you get into the market. And a big lol to your new global world order idea, that's a good one.

  • 1 decade ago

    There is a good chance of it. Personally , from the investment stantpoint, I think there are better ways to invest your money.

    I dont think the global currency will fly though. Some dont like the euro as it is already.

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  • Anonymous
    1 decade ago

    With the Obama Spend like there is no tomorrow Regime in charge,maybe 2,500 an ounce.

  • Anonymous
    1 decade ago

    It very well could the way things are turning out. I agree that globalists are plotting a power grab, after all they never let a crisis go to waste.

  • Anonymous
    1 decade ago

    no, gold's not worth that much.

    It's been artificially low for a while as people saw greater returns in the bull**** based stock market. but, there will be a correction to its correct price soon.

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