More Hate from the Gold Hater

Joe Weisenthal is out with his latest pontification on gold.

This time in a post titled, Here's What Would It Would Take Get Some Major Gold Bulls To Turn Bearish, he starts by reading Peter Schiff's mind:

There are a lot of luminaries in the gold community who will never turn bearish, because they've built a persona around being gold bulls. Peter Schiff is a good example of this. He'll never be a gold bear because that stance would make him irrelevant

This is absolutely stunning commentary. It's clear Weisenthal just spits out copy without thinking for a minute what he is saying. Schiff is a very careful student of the economy. If somehow the Federal Reserve became responsible and stopped printing money, Schiff would be one of the first in line to recognize this. Why would Schiff under such circumstances stay long gold, when a stable money would mean there would be no reason to own gold and the price would decline? What advantage would Schiff have in losing money for all his clients?

Weisenthal then tells us when, in his mind, it will be a good time to get out of gold:

One idea that we've suggested is that a move by China to seriously revalue the yuan would be a risk to gold bulls in the sense that such a move would slam the breaks on the global devaluation game.

Does Weisenthal have any clue as to the serious situation we are in relative to government debt in this country? Does he realize that the Fed may have to buy up more than a trillion dollars of Treasury debt? Does he know how inflationary this is and what it will do to gold?  In the big gold, as inflation hedge, picture, a revaluation of the yuan is about as significant as a pimple on Weisenthal's ass.