smart advice? start buying entire gold mining companies from schiff

[audrey_girl]

interesting advice from a man people love to hate:

http://www.youtube.com/watch?v=aTF-oPvhHVs


comments?

[The Outback Oracle]

Re: smart advice? start buying entire gold mining companies from schiff

I guess there are two aspects

First, if China or the Arabs wanted to screw the US, I doubt this is an effective route. If the US does have the Gold it says it does, then it still had far and away the highest gold reserves in teh world.
Further, Gold of itself is valueless. Gold is a perception. It's security lies in the fact that it is reasonably difficult to screw around with the supply...well much more difficult than printing paper. If you take it and store it in a vault, and do nothing with it, then I can't see they have gained anything. Sure the price of Gold would rise but to what purpose?
It seems to me to be much smarter to do what the Chinese are now obviously concentrating on doing, and that is, to wander the world buying up useful commodities like Copper, Zinc, Iron ore, Oil, at bargain prices and securing their supply into the future.
What would happen to the Western world if the Chinese secure their supply, and we cannot afford to buy essential commodities? That may be our future that we ourselves have cultivated through our own profligacy.
One way or another, whatever the Chinese are planning, purchasing commodities is much more in their interest than cornering the Gold market.

So, maybe ask yourself what was Schiff up to? (And i have no bone to pick with him. He DID try to warn everyone of impending doom, even while trying to turn a profit)
Maybe Mega had it right in another thread....Schiff owns the stocks!
Either that or he is not thinking straight!