Still Clueless
I was reading the following comments from Peter Schiff's recent CNBC interview and just wondering just how high gold will go once the public finally "gets it." We've gone from $300/ounce to $1600/ounce and still nobody owns gold. How many zeros will we have to add to the end of the gold price once the public understands the seriousness of the situation?

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In a recent interview on CNBC on December 30, Peter Schiff of Euro Pacific Capital said. "You need to own gold, and most people are still clueless about that."

"The fundamentals have never been better for gold and I think prices are going a lot higher," Schiff told CNBC in an interview looking back on gold’s 2011 performance and ahead into 2012.

"I still think it's headed higher. I'm not really sure when you talk about the turnaround, I don't think that the correction we've had in the last few months has turned the bull trend. I think we're still in a bull market. I think that trend is going to continue. The question is, is the correction over? I don't think there's much more left in the correction. ...

"The U.S. is a bigger disaster than Europe, but all the central banks -- the U.S., the [European Central Bank], the Bank of Japan, Bank of China -- everybody is printing too much money. Everybody has rates too low, and the world is looking for an alternative to currencies, not just the dollar or the euro, but the world. People are going back to real money and not enough people have made that switch. Most people are still clinging to the idea that there's a safe haven somewhere in currency. There is no safe haven in currencies. If you want to protect your wealth, if you want to store purchasing power, you can't do it in a currency. You need to own gold, and most people are still clueless about that.”