I ran across this video clip of Peter Schiff, chief of Euro Pacific Capital, who was on CNBC last week arguing there is a gold rally set for a next year….and get this…it will take the gold price all the way to $2,000 an ounce.

I don’t get the financial TV pundits who hate gold. It’s clear to me they hate gold and anyone who dares to defend it as the best asset class to be in right now. The attacks Schiff endures in this interview are unlike any another guess would have to endure. The attitude they take with Schiff is reminiscent of the attitude all the TV political pundits had with Ron Paul…dismissive, condescending, and outright hostile.

I take that back…I Do Get it….these financial TV shows are support by advertisers who sell stocks and bonds….not physical gold. They have to knock any asset class their sponsors don’t have an interest in!

Watch the clip below to see what I mean. If you want to skip just to the talk on gold…it starts about 3/4 of the way through…

Hey, did you catch ..right at the end…he said gold will go to $2000 in 2009….and then he said, “and then go higher”…so $2,000 an ounce is not the end of the rally!

This video is called – “Peter Schiff: The Man Who Called the Collapse” and rightly so. They play a clip from a show in February of 2007 where Schiff was predicting gold to go higher due a economic and financial collapse.

But in tooting my own horn, I called the collapse in the real estate market in the summer of 2005 calling for a liquidation of real estate in January of 2006 and reinvestment in gold…a full year ahead of Schiff! At the time, that was considered crazy-talk too. From January 2006 to the middle of May, gold went from $525 to $725!

Peter Schiff, as good as he is, was not only guy on the planet who could read the writing on the wall!

Happy Investing!

Jim Rogers was interviewed by FT.com’s John Authers in Soul Korea a few days ago and he said some interesting things that those interested in precious metals should know. Rogers is worried about Obama’s pledge to tax capital, the US dollar, and the US housing and financial crisis…just to name a few things.

US Dollar Doomed

When asked about his thoughts on assets classes that will be profitable in this chaotic environment, he said,

“You buy the things that have been unimpaired”

Rogers is talking about commodities….including my favorite commodity…gold when he says “unimpaired”. Companies and their stock values can be hurt by bad management, political meddling, tax policies, and central banker tinkering….commodities can’t.

Commodities markets are very large…global in fact…and central bankers or Wall Street pundits can’t sway commodity prices that are not valid by the fundamentals. Rogers likes this because then the analysis becomes one of supply versus demand…and not a dozen other factors.

When asked when he’d get out of the dollar…he responded with,

“I hope I’m smart enough to recognize when to get out of the dollar because it is a flawed and even a doomed currency”

He goes on to say,

“The US Dollar is finished!”

Wow!

When Rogers says the dollar is doomed or finished….everyone should pay attention. We are in a nice little dollar rally right now (…and the gold price is stagnant because of it), but Roger’s sure this will be temporary and the dollar will return to historic declines. I don’t have to tell you when the world stops seeing the US dollar as a valuable storage currency, gold will skyrocket.

He was asked about whether the dollar weakness would cause politicians and central bankers to return to the gold standard, he said,

“I suspect not…but having said that John, I want to show you I got my own gold…just in case…I’m ahead of the game.”

Rogers then pulls out what appears to be 3, 1 ounce gold coins. The interviewer upon seeing the gold laughs like a giddy school girl taking a ride in a Jaguar for the first time.

Hilarious!

Politicians Will Make Things Worse

When asked about the coming recession he said, “The recession will be the worst since the second wold war”. I agree on the depth of the recession and have written extensively on the meddling of Treasury Secretary Paulson’s attempt to support the real estate market.

Rogers recounts the real estate bubble and mortgage crisis condemning the stated income programs stating it will take years to unravel. On this point I agree it will take years to get the consumers interested in home buying again. Even if demand rebounds, the availability of mortgage money will be suspect since the banking crisis will be in full force then.

Paulson can’t create a housing demand but in the attempt to “help” he’ll cause more harm than good. Rogers believes this as well referring back to improper tinkering with the economy by politicians during the Great Depression stating,

“What should have been a normal recession turned into a depression and it’s happening again.”

Couldn’t have said it better myself…you can watch the full video here.

Good Luck!
Rob K. Blake,
The Gold Insider

I added the live ticker at the bottom so you can track the current silver price on a daily basis. I am not a big fan of over-obsessing on the daily price movements like some delusional day-trader.

So even though you can favorite this page making it easy to return, resist the temptation to check it every day even if you own silver or are thinking of buying silver in the not too distant future.

Obsessive behavior is distructive for investors …for anyone really…and indicates you don’t fully believe in your orginal trade decision or you used money you couldn’t afford to lose. Either way, you made a mistake and “watching it like a hawk” won’t help. Your only solution is liquidate your position and re-think your investment strategy.

I like silver bullion almost as much as golld bullion. I can remember growing up in the 1970′s and seeing my Dad’s silver bars all around the house being used as door stops. Then when Lamar Hunt tried to corner the silver market late in the decade, and the price of silver shoot through the roof, one day I returned home from school to discover all the door stops were missing. Even though we had to find another way to keep our doors open, Christmas that year was fantastic!

If you’d like to learn how to give your family a great Christmas…click over to “Get Started!”…and we can talk about it.

Good Luck!
Rob K. Blake
The Gold Insider

This page will hold a ticker on the current gold price updated live. This is for you to check in occasionally on the movements in the current price of gold, but not to make trading decisions with.

Just like in the stock market, there is a “bid-ask” spread when it comes to buying and selling gold bullion or gold coins. If you follow my methods for owning gold, you’ll stay away from the coins since the coins have a premium built into the bid-ask spread…and lately that spread is too great over the bullion. So until that corrects…bullion is a better buy.

Of course, there are those who buy gold in coin form so they can take possession of it…and hide it in their back yard or under their bed…and my guess is those camps are growing…not dwindling. I don’t hold the opinion financial Armageddon is at hand (nor do I want to worry about safe storage of my gold), but I do hold that the recession, the housing bust, and the financial crisis will be a lot worse than expected.

When everyone figures that out…the price of gold will skyrocket. Of course, you need to take a position before it becomes obvious to the world. I can help…click the link, Get Started! today!

Good Luck!
Rob K. Blake
The Gold Insider

Investing options are often so vast and confusing, one opts to make no decision over making the wrong decision. This is one of the many reasons I like and recommend owning precious metals as a necessary addition to everyone’s investment matrix. No one can argue the efficacy of that statement.

It’s unambigous…and truthful.

“Every investor should own precious metals”

A bold statement, no doubt…but one I’ll stand by.

The real question is not should physical precious metals be apart of a diversified investment portfolio, but when to go “heavy” on the metals, which metals, whether to use leverage, among others are the more pertinent questions….and where it gets a little confusing once again.

But the base line question…”Are physical precious metals a good investment for me?”…has been answered.

Why Are Precious Metals a Good Investment?

Over the coming weeks, I will write on all these topics and more but suffice it to say…

Physical Precious Metals are Good Investment because..

Can be a hedge against inflation

Can be a hedge against falling dollar

Can be a hedge against falling real estate values

Can never go to “zero” …has intrinsic value

Can be leveraged for greater rate of return

Can be traded long or short so money can be made regardless of market conditions

Can be a better option if stock, bond, real estate, and other markets are too risky

I could go on and on why owning physical gold (not gold futures or other derivatives…I’m talking about the actual gold bullion) or other precious metal is a fantastic option…especially now in our current global financial crisis.

Thanks for stopping by and stay tuned!

Rob K. Blake