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RE: Everybody Should Abandon the US Dollar, says Peter Schiff … (Death of the Dollar–1) with Link to Full Story
Right. Now's the perfect time to buy. I kinda wish I had a steady stream of income now, but I guess I'll hafta rely on my meager profits from Steeemit.
If you cannot buy gold, maybe you can afford a bit of silver. It's much cheaper, and many analysts and observers believe that silver will outperform gold over the coming few years.
@cypro.piotr ... Gold is severely underpriced. That fact is due primarily to the price suppression techniques carried on by the bullion banks.
They sell "paper claims" to gold. Not only do they take large fees from the sales, the constant "selling" keeps the price low, as there may not always be sufficient buyers of the paper gold.
Currently, most conservative estimates put the ratio of Paper Gold – Physical Gold at a staggering 200 : 1. And that's a conservative estimate. For Paper Silver – Physical Silver, the ratio is said to be higher.
That means that, for any single ounce of gold that the banks will have to provide when the owners of the "paper claims," there are over 200 owners. So, the very first owner who shows up at the banks requesting his Physical Gold could get his ounce, but the following 199 "owners" who show up with their paper claims will be told, "Sorry, we don't have any more gold. Now, fuck off!"
So, beyond a doubt, gold is underpriced. Severely underpriced.