Could Gold hit $20,000? | Peter Schiff predicts #Shorts

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[paulr]

The dollar has already lost 99% of its purchasing power since the 50s.

[samsonx]

The dollar will lose 100% of it's value.

[ecopsych]

We dont expect hyperinflation because once our “leaders” in washington realize weve made a mistake, they will balance our budget and learn to live within our means. LOL

[randommotion]

Max Keiser first used that phrase couple years ago... He compared Bitcoin (no ceiling) to dollar (no floor)

[samtohidi]

eventually it will reach that price, as it was 200 an ounce and now its 2000 but it took 25 years, question is how long it takes to get to 20000 . Not sure if anyone knows that answer

[preparedsurvivalist]

But, if an Oz of gold is now worth one month's mortgage payment, will it still get me the same thing if hyperinflation hits? Because gold going up to 10 fold means nothing if my bills go up 10 fold.

[cniht]

I enjoy the economic news and insight from Peter. However, I deplore his gold buggery.

Two questions: What is the return on investment in Gold over the last twenty years?

What is the return on investment over the last twenty years for any well governed large cap mutual fund?

Take your wait.

[allentarver]

gold goes up $20, 000 so dollars collapses...So now I got $20, 000 of useless dollars!!! How much is gold worth in other currencies??

[liju]

if dollar will lose 90 % of purchasing power, not just gold, but bread, toilet paper and almost everything will also see 10 fold increase

[rbe]

In the worst case scenario US goverment will simply confiscate gold and would be illigal to have it

[gianthills]

if gold goes that high and cash is worthless, what do you convert your gold into so you can buy a house?

[EricSmythChrist]

That’s why it’s important to know ratios and cycles

Get gold low and sell high (in terms of purchasing power)

[therealcnn]

Well the paper gold devaluing it, there is human manipulation.
How do you not get bitcoin?

[stuarthicks]

You said it would hit $5000 ten years ago. Still same price I bought it at back then.

[michaelc]

Have to call BS! Been saying this year after year.

[romzen]

Gold prices do not move since years. One would think they should considering the inflation of the past years. That means that gold actually lost value significantly.

[JoeBilello]

Measuring gold in dollars will be nothing but a psychological high when you hear it said, but when the dollar isn't worth as much as firewood, then what difference will it make??😂😅😊

[jf]

How much gold does he own because I heard it's not much considering that's all he talks about

[aasifazimabadi]

Looking at Zimbabwean (2008), Argentine (1980s), German (1922-23), Hungarian (1946), and some hyperinflationary currencies, it does make me wonder about what would happen with stacks of Benjamins in that circumstance, as unlikely as it is. Heavy inflation will most likely happen. Don't wait to buy gold and silver; buy them and wait.

[erichood]

But overall the gold dollar relation will be close. I'd gold goes up the dollar ia worth less. So when you want to sell since you can't live off gold you get less dollars or money.