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Peter Schiff Video Blog - June 1, 2010 (The Wrong Way to Buy Gold )



June 01, 2010 – Comments (3)

3 Comments – Post Your Own

#1) On June 01, 2010 at 8:34 PM, XMFSinchiruna (26.57) wrote:

Good timing ... :)

This video ties in nicely with my article on physical gold exposure, which I just posted to my blog here:

The very fact that scams like Goldline are able to flourish speaks to how early we still are in this bull market cycle. As the cycle matures, I believe we will not encounter such a clueless and vulnerable marketplace.


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#2) On June 01, 2010 at 9:29 PM, ElCid16 (95.36) wrote:

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#3) On June 01, 2010 at 11:46 PM, mhy729 (30.41) wrote:

Good video.  I was once in contact with these guys about two years ago.  I recall them using high-pressure sales tactics to try to get me to "buy now!"  The problem was that the few items they were pushing all had 50% or so premiums over spot.  When I inquired as to whether they were offering other products that might be more reasonably priced, the salesperson actually transferred me to a senior account manager.  The new guy talked with me for a while, but once he figured out that I didn't have a large amount of money in mind for any potential purchase, there was an unmistakeable change in tone.  I guess his time was too valuable to waste on me.  :)

I am happy to say that I didn't buy anything from them, although I did spend a decent amount of time on the phone with them.  I decided instead to buy PM related securities on the stock market, a decision that was greatly informed by the wonderful information available here on TMF/CAPS.

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