Schiff ripping off EJ?

[jimmygu3]

Listening to NPR on the way home today (Marketplace, I think) and they cut to a soundbite from Peter Schiff who said that the Dow/Gold ratio is likely to drop to 1:1, meeting at $5000. Whatchutalkinboutwillis? Did Schiff and EJ come to this conclusion independently?

Jimmy

[DemonD]

Re: Schiff ripping off EJ?

I could be wrong but I think Schiff developed his opinions around the same time EJ did. If Schiff did rip that little factoid off EJ it's not a huge leap because most of Schiff's opinions mirror EJ's. Schiff has also had a $5000 price target for gold for quite some time and has been bearish on the US stock market, so I'm going to guess that it probably wasn't ripped off, but on the other hand I wouldn't be surprised if some of Schiff's opinions are influenced by EJ and itulip.

[metalman]

Re: Schiff ripping off EJ?

I could be wrong but I think Schiff developed his opinions around the same time EJ did. If Schiff did rip that little factoid off EJ it's not a huge leap because most of Schiff's opinions mirror EJ's. Schiff has also had a $5000 price target for gold for quite some time and has been bearish on the US stock market, so I'm going to guess that it probably wasn't ripped off, but on the other hand I wouldn't be surprised if some of Schiff's opinions are influenced by EJ and itulip.

nah... 5k is a no brainer. thing is, stocks are getting there lot faster than gold.

when peter starts talking about energy and infrastructure... that's the ripoff.

[Idiot Savant]

Re: Schiff ripping off EJ?

Is Schiff and EJ really in agreement, I think Mish and EJ are alot more in agreement. Schiff is absurdly bullish on everything but USA, which feels kind of strange especially for those of us who are sitting outside the US and see exactly the same housing bubble in Sweden, UK, Denmark, Spain as in the US. Stockholm a city of two million people built 10 major shopping malls during the past 2 years.

Schiff has his points, but I think his bullishness on the outside world comes from the fact that he is selling stocks abroad.

btw, this gold:dow 1:1 whats up with that? Is there any logic to that, I really don't get it.

[we_are_toast]

Re: Schiff ripping off EJ?

I heard this also on Marketplace and jumped up and yelled "he ripped off EJ"!
The way he said it sounded almost identical to what was written here.
I don't know, I've seen gold/DOW ratios before but meeting at $5000? Sounds pretty fishy to me.

[bart]

Re: Schiff ripping off EJ?

btw, this gold:dow 1:1 whats up with that? Is there any logic to that, I really don't get it.

Dow/gold has hit 1:1 or very close to it twice in the last century.

[*T*]

Re: Schiff ripping off EJ?

Steen Jakobsen is already talking about Solar as a long-dated bond on energy and the next big bubble. I don't think he's ripping off EJ. If a conclusion is right, people will come to it independently.

[FRED]

Re: Schiff ripping off EJ?

Dow/gold has hit 1:1 or very close to it twice in the last century.

The original Dow/Gold ratio chart from the iTulip gold article 2001 marking the top of "Gold is dead" sentiment for the cycle.

Since then by monetary inflation first then equities deflation second the ratio is heading rapidly toward "Equities are dead" again. When we get there, the ratio will reach 1:1 to 1:3 most likely by monetary inflation rising to bring gold up to meet the DOW on its way to 5,000 with gold in the range of $1,660 (1:3, the Jim Sinclair target) to $2,500 (1:2, the Janszen target) to $5,000 (1:1, the Schiff target). At least that is our long term forecast. As we get closer, we'll understand more, but it helps to have our seven year long continuous perspective starting from the peak of "Gold is Dead."