3
Dec

Gold and Silver: Jim Rogers Does NOT Win Over Peter Schiff

Today, LewRockwell.com posted an article entitled “Gold and Silver: Jim Rogers Wins Over Peter Schiff” written by Dr. Jeffrey Lewis.  The original article appeared on Commodities Online.

I wrote a reply to Dr. Lewis’ article but so far it hasn’t been posted, so I thought I would post the reply here.

Dr. Jeffrey Lewis Is Mistaken; Rogers Doesn’t Win Over Schiff

I believe you are mistaken in saying Jim Rogers beats Peter Schiff.

You write for Commodity Online which analyzes elements of the earth.  This would fit what Jim Rogers says in his analysis of the various minerals from an investment perspective as he explained in his book “Hot Commodities.”

In that book, Rogers speaks of the bull market in commodities starting in 1998, not “7 years ago” as you state.  He doesn’t mention gold until page 157 and when he does, he states that he views gold as “an insurance policy” more than he does a commodity. “Own some perhaps as an insurance policy, as many around the world do–including me.” P.167

Schiff views gold as insurance as well.  Insurance against the destruction the U.S. government is causing by not living within their taxable means.  U.S. Dollars are what gold is priced in. If the quality of the dollar decreases the gold price in dollars will rise.

In this sense Rogers and Schiff agree.  Gold is insurance for one’s portfolio against the price decline based on the currency it is valued in.

Ask the people of Argentina and recently Iceland, whether they think gold is a commodity or money?

Since 2000, gold and the U.S. dollar have been inverse of each other.  Last year most commodities got slammed but gold ended up with its 8th consecutive positive year and 2009 will be its 9th. Oil, also priced in dollars, isn’t breaking to new highs.  Gold and silver are known the world over as money.  Oil and other commodities are not.

I wrote an article not too long ago explaining this in more detail;

Gold is a Commodity, But Unlike Oil, It’s Known the World Over As Money

I don’t think Peter Schiff got a fair shake in this article by Dr. Lewis.
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About Doug Eberhardt

Doug Eberhardt is a 28 year financial services veteran and precious metals broker selling gold and silver at 1% over wholesale cost. Doug has written a book to help investors understand how gold and silver fit into a diversified portfolio, how to buy gold and silver, and what metals to buy. The book; “Buy Gold and Silver Safely” is available by clicking here Contact phone number for Buy Gold and Silver Safely is 888-604-6534

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About Doug Eberhardt
Doug Eberhardt is a 28 year financial services veteran and precious metals broker selling gold and silver at 1% over wholesale cost. Doug has written a book to help investors understand how gold and silver fit into a diversified portfolio, how to buy gold and silver, and what metals to buy. The book; “Buy Gold and Silver Safely” is available by clicking here Contact phone number for Buy Gold and Silver Safely is 888-604-6534 Buy Gold And Silver Safely is not a registered financial advisory service and is not a registered SEC/NASD broker dealer. We do not and cannot give individualized stock market advice. The information in this article is only intended for informational and educational purposes. It should not be considered a solicitation of an offer or sale of any security. The reader assumes all risk when trading in securities and Buy Gold and Silver Safely advises consulting a licensed professional financial advisor before proceeding with any trade or idea presented in this article. Buy Gold and Silver Safely may take a position and sell a position in any security mentioned in this article. We share our ideas and opinions for informational and educational purposes only and expect the reader to perform due diligence before considering taking a position in any security. That includes consulting with your own licensed professional financial advisor.
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