It's a bit sad, but it seems like people who are genuinely clever, like Peter Schiff — and who I very much respect — can become extremely emotional and make silly comments such as the following he made on King World News last week:
"I think anything in the low $30’s represents a pretty good entry point for people to buy...Once we go through $50...I see silver going to $200 an ounce. I own a lot of silver personally because of that outlook."
But it looks like King World News is were all crazy lunatics go to make their surreal forecasts.
See for yourself below...
John Embry talks about the orchestrated raid against silver and believes that Silver is behaving remarkably well.
John Hathaway forecasts 5 digit gold.
Eric Sprott talks about the May first silver raid and says that it was all orchestrated. He then goes on and explains that due to the changes in margin, a guy with $5 million investment had to come up with $20 million collateral. It seems normal for that guy to be able to have a $100 million exposure to silver on the long side, with only $5 million invested, but then when he is asked to show the money — only 20% of the total exposure — then this is a raid against silver?