Focus on Big Picture, Buy Physical Gold (Video)
This morning Peter Schiff appeared on CNBC to give his take on speculative and physical gold investing and the false narratives of a US economic recovery. At the end, he has a short debate about Ben Bernanke’s place in history.
When the [gold] speculators realize how wrong they have it and when they try to reverse those positions, I think a lot of the gold that they sold on the way down is not going to be available for sale on the way up. I think you’re going to get a huge spike in prices.”
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I would take Peter Schiff advice to invest in physical gold rather than paper gold. Across the board, gold ETFs and shares lost the most value compared to physical bullion following the recent plunge in gold prices. What’s more, I think that demand for physical gold will always push prices back up whenever fluctuations occur.. But the key to investing in gold rounds and bars is to own it for the long term. That’s where many investors get it wrong.