Peter Schiff

Some with my help, some figured it out on their own and just sought me out as a place to buy gold.

I didn't have to convince them to buy it.

They already decided.

They just bought it from me because I gave them a good price or they trusted me.

But a lot of people own gold because I convinced them that they should buy it.

And then they bought it from me.

But the price is going to go up as more investors want to buy a relatively scarce commodity.

There's not a lot of production coming online for gold.

It's not like anybody's discovered a huge new gold mine.

I think some of the new supply for investors may come from jewelry that gets melted down.

I mean, some people, let's say in the US, if they lose their job and the economy is very difficult and they need money and they have some old jewelry that they don't wear,

They may just sell it, and companies will buy it for the value of the gold.

But that's not going to move the needle, really, on supply.

That might really happen with silver, too.

People start bringing in their silverware.

Silver gets up to $100.

Oh, yeah.

I don't think people are melting down their silverware yet.

Silver is almost $60.

But I think that's going to be...