Peter Schiff gives his analysis of recent developments in the precious metals markets.
False Rumor That Strait of Hormuz Was Closed Sends Oil Prices Skyrocketing Paul Joseph Watson www.infowars.com www.prisonplanet.tv Tuesday, December 13, 2011 A rumor that Iran had closed the Strait of Hormuz sent oil prices skyrocketing today, but the story turned out to be inaccurate and was likely a result of confusion surrounding an upcoming Iranian military drill set to take place near the key oil choke point. As we reported yesterday, an Iranian MP went public with the claim that Iran was about to stage a military drill to practice closing the Strait of Hormuz, after which the Iranian military declined to comment. Earlier today, the Tehran Times confirmed that Iran was preparing to “practice its ability to close the Strait of Hormuz.” A report out of real-time analysts Ransquawk then claimed that the channel had in fact already been closed, a rumor that sent traders scrambling. “By 10:40 am EDT oil had jumped from .590 before the rumor, to 1.25 at its peak, and has settled to 0.30 — still sitting almost higher than before the supposition began,” reports Business Insider. At time of press, prices have settled to around dollars a barrel. Other reports confirm that the Strait was not closed at any point. Iran’s Foreign Ministry has confirmed that the Strait is open, reports Bloomberg. In addition, Ransquawk now reports that the US fifth fleet has confirmed maritime traffic in the Strait is normal. The dramatic surge in oil prices seems to have been …
@forzaitalia1313 Now that I see their names in a row, I notice they all have foreign roots and un-american names… secret terrorist plot?
To everyone here, my brother in-law is a senior economist to several very large corporations in the US & everything this guy is talking about is more or less very, very true. You must protect your value by owning hard assets. Bernanke & JP Morgan, is ILLEGALLY ! naked shorting selling Silver & Gold to keep silver & gold prices ARTIFICIALLY down ! this in turn ARTIFICIALLY keeping the US dollar from dropping ! I hope everyone starts to understand this very soon !
90% accuracy trading is now a reality. If you want to get rich invest in gold! Come visit my website, just google Gold Trading Academy to learn more.
Peter, you need some sunscreen.
@mysql0 not everyone wants gold because not everyone understands gold. It is because of this gold is still only 1700/ounce today. It is dirt cheap.
@GoldenDragon214
I agree up to a certain point but it’s not always necessary to diversify. In extreme bear markets (march 2009) it seems almost everything is correlated but in my view you are far better off buying in to a company with an extremely strong balance sheet that generates huge amounts of cash that can be given back to share holders in the form of dividends or share repurchases. During down turns incrementally add to your positions.
Housing has gone down too but I still want my home!
Gold is money! I don’t understand how people can put their faith in a piece of paper that isn’t backed by anything
gold is money
dollar is toilet paper junk worthless.
nobody wants toilet paper, everyone wants gold
Last time I checked, majority of the world’s raw materials are transacted in US DOLLARS….NOT gold. If another financial crisis is indeed in the horizon, big-money institutions will hoard/raise cash & sell even more gold to raise cash. Think the unemployed’s gonna buy gold? no it’ll be pawned/sold. Upcoming obama ‘tax-the-rich’ scheme, think the rich will buy even more gold as hedge? LOL–no they’ll preserve whatever wealth they got left IN CASH. Get out of gold now before it’s too late
@acotytamwiesz Well, you’re right..I guess. But then, how many CEOs of “Big Companies” make their own little You Tube videos? I thought that since Peter makes his own YT videos, he might be interested in some of us lowly people out here without a job, our homes confiscated who have to drive around just to find an open node to get these messages. It may not concern you, but there are folks out there….well….never mind!
The money supply can only do 2 things, increase exponentially or decrease exponentially and with over 50 trillion dollars of actual debt, the money supply can only decrease. Peter always talks about inflation as an increase in the money supply, but always refers to deflation as a decrease in prices, but deflation is a decrease in the money supply. All the debt that gets liquidated is a decrease in the money supply and a loss of wealth to someone, somewhere.
@acotytamwiesz do you know that comex hiked the deposits on gold futures by 25%, effective immediately?. Yes do you know why they do it.? Yes do you know the dates of gold options expiry? Yes do you follow that obvious correlation? Yes my guess is you answer NO..because you are CLUELESS, dude.. SELL YOUR GOLD WHILE IT IS STILL AT THE TOP OF THE BUBBLE
@storbynatt ofc it’s 33,3%, too quick and dirty. Was thinking about it the other way around.
@MsH1h1h1h1 do you know that comex hiked the deposits on gold futures by 25%, effective immediately?.. do you know why they do it.? do you know the dates of gold options expiry? do you follow that obvious correlation? my guess is you answer NO..because you are CLUELESS, dude..
@storbynatt I guess you didn’t major in maths.. holy fuck you americans ARE dumb. if you purchase at 30 and it goes down to 20, you imagine it’s a 50% loss? wow just wow
@storbynatt your numbers are correct, but it takes very little vision to see the upside for pm’s. I think everyone has a fingerprint buy signal. I would buy it small at his level, more if it sinks, less if it doesn’t. I am not the least worried about more drops, i actually hope for more drops, so I can buy at an accelerated pace. You don’t take a loss if you don’t sell low. You are right about silver being somewhat like lady gaga. lol.
@forzaitalia1313 nah, it’s all Bernanke, creating 5 different youtube accounts. Funny he can’t “print” as many “dislikes” as he would like huh?
@Jasonstar94 no, I’ll specify that to paper loss. Anyhow, you wouldn’t want it.
@Jasonstar94 no, I’ll specify that to paper loss. It’s probably not a good point to enter for the short or mid-term investor.
@storbynatt You don’t lose anything if you don’t sell. This is a long term investment for your future!
The recent drop in silver is not a correction, it’s a crash, and when a silver bull market of this extent crashes, you would expect a decline of at least 60%, if you look at historical bull and bear markets in silver. That’s $19,92. Silver is a wild beast. You wouldn’t want to buy it at $30 and lose 50% by seeing it go to $20.
5 dislikes – Obama, Bernake, Geithner, LeGard, Trichet
you will probably not see gold value as high again. americans sell their gold because they are broken. so the value should go down more.
It’s just a correction. It will be more than $2000 an ounce by years end.
you know guys im from pakistan,just like the rest of you living in different countries.i want to do business and to be successful in my life,but these few evil people are destroying the peace in the world, and who is behind this evil plan ZIONIST JEWS.
donate for Ron Pauls money bomb today! Help for your freedom.
check Ron Paul 2012 webpage on internet
If Iran closes the Strait, It is a Clear and Present Danger to the US and Obama should have no choice but to remove the Iranian Leadership from power by any means necessary.
The Strait of Hormuz is owned by Iran and Oman. Oman is dependent on the USA/UK; however, they are religiously the Arab World. Martial Law May 15-22, 2012: G8/NATO meetings in Chicago. Martial Law invokes Draft/ends primaries. ie: Ron Paul won’t win. Barrage the White House with letters to VETO the Defense Bill: The final domino. The BRICS will foreclose on US soil. Spier, SA is the new Bretton Woods. Prediction: Easter week NYSE crash: Food and cash! I truly believe that God can only save US.
ALERT: GOVERNMENT is COUNTERFEITING MONEY for SLAVERY..!!!
bankers+lawyers+police+judge+politicians+criminals+etc = DIRTY CAPITALIST SCUM PIGS.
BANKERS & DRUGLORDS screwed life & society in human history.
BANKERS & DRUGLORDS screwed life & society in human history.
– copy & paste WE ARE THE 99% FREEMAN –
BURN DRUG LORDS ALIVE & OCCUPY THE WORLD..!!!
BURN DRUG LORDS ALIVE & OCCUPY THE WORLD..!!!
“GOD HANG the OPPORTUNIST PIG CAPITALIST ROYAL LAZY FAMILY”
SAVE the ANIMALS & NATURE. END THE DEBT.
@TheTruthisBackNow
No more superpowers. Just super wealthy and filthy serfs.
@chadberry75 CHINA IS NOT THE NEXT SUPER POWER IT IS SECRETLY BANKRUPT!
This video is a first level training presentation made by an Illuminati organization called “Illumicorp”. It looks like Charleton Heston after a scalar machine has made him younger and some plastic surgery also. Or a clone of Heston. The voice is the same anyway. This is really worth watching. Everyone who is invovled with this Illuminati must be quite stupid, because it is easy to tell this guy is mis-guided.
Top-Secret Illuminati Video Leaked: Illumicorp Into-Part1 and 2 >YT
@RandyEBlack butbutbut then we would be efficient.haha not to mention how much oils in the north pole. soooooo much.
Thank you Alex,
Alex should spend a couple of minutes a day to update FUCKING Japanese FUCK-YOU-shima crisis.
#4 nuclear reactor is collapsing, so a lot more radiation will leak & then enter our bodies.
Dr. Christopher Busby, Arnie Gundersen & Dr. Bill Deagle are saying that FUCKING Japanese govt is always lying about FUCK-YOU-shima status & committing an unrecoverable crime against humanity by burning ALL radiation-contaminated materials (the radiation ash will spread all over the globe through atmosphere).
@xxbassxxMakar fairy tales*
I like fairytales…
See, if u understood my view, the Federal Govt is NOT in control. The armies of Heaven ALREADY SHOOK the PENTAGON — and they ran like little girls out of the building. The armies of HEAVEN are ON THE GROUND IN DC AT MY COMMAND — and EMERGED TO MANIFEST 12 days after I shouted at Obama. They are AFRAID — and ARE SCRAMBLING NOW with this NDAA stuff — CUZ I TOOK THE DOMINION — and THEY ARE TERRIFIED. They’re satanists – and the army of Heaven is on the ground in DC.. RIGHT NOW.
STOP THE WORLD, I WANT TO GET OFF!!!
I WANT OFF OF THIS RIDE NOW!
I HAVE CLAIMED THAT I WAS AWAKENED FOR MANY YEARS NOW & I BELIEVED IT. BUT JUST NOW AM I TRULY AWAKENED AFTER SEEING THIS. I AM SCARED, AND I AM EMBARRESED THAT I’M SCARED. Truly, am I lost? Help me.
@WhiteLion8403 the US, UK russia, china, iran syria, well 187 countries of the world all have in common? they are all part of the IMF. so all this shit is just a monopoly game of Risk. world leaders play this shit, but real people are effected. go to IMF website, G20 reports to imf. thers only 196 countries in the world. think about it they all bank at the same place. its like a country club for countries. smoke a cigar, play golf, bomb a city, print some money, have a war.
I’m telling u, ppl that think I am “CRAZY”… lol, I believe it was on August 11, 2011 that I personally confronted Obama and TOOK ROMANS 13 AUTHORITY OVER HIM IN DOMINON stating that I am the Romans 13 Authority as I shouted, “JESUS IS LORD!! YOU WILL FAIL!! JESUS IS LORD!!” 12 days later the earthquake struck DC and they were vacated from all Fed power buildings — as the tip of the Washington Monument cracked. (That was from ME — and GOD WITH ME… and here I come.)
@cahaps nope try again.
I just laugh. Ppl think the Bible are PLATITUDES. No, it’s real. See, the power of the two witnesses begins to rise in the endtime move of the Spirit in a CRUSADE on American soil that is SPIRITUAL MILITARY in DOMINION. I will TAKE THE LEADERSHIP of the nation like Moses did — and begin to institute HEAVENLY MARTIAL LAW. The NDAA… well, to every action is an equal and opposite reaction. You 666 dog — not here, not now, not ever. This is the soil of NT Israel.
@RandyEBlack oil in north dakota?
I have in my heart, confirmed by other Christian “infowarriors”, that I target 1/21/2012 as a date of emergence. Ppl think in terms of religion as “private sector”. No, I am TRAINED AND PREPARED to EMERGE with the armies of Heaven and Michael with me taking HEAVENLY MARTIAL LAW over the soil of the USA – in a revolution of spiritual power – with Acts 5/Revelation 11 power to strike men dead as the armies of Heaven move at my command – like Elijah. LOL Folks r not ready 4 this.
*Just “talking” as I’m listening. I’ve been “sitting on” sufficient power to unite and mature the body of Christ in outpouring of the Spirit — all my life. Jesus told me in my salvation, looking straight into my eyes, that it waits an appointed time. I emerge at an appointed time. But, as I emerge, the power of the 2 witnesses begins to arise. (Not just in TWO PERSONS… that’s a misunderstanding of sequence of events — across the body of Christ. It’s an ACTS anointing.) So.. anyway…
I am giving up my citizenship and I am moving OUT of the US. You illegals and whatever can have the Crupted GOVERNMENT and think you cowards derserve. I will be living in Argentina.