Peter Schiff has been saying the same thing since 2006.
A self perpetuating spiral begins with negative self talk
Peter Schiff has been right a lot more than he's been wrong. He's been saying all along that the Fed will never raise interest rates, or if they do, that it will only be in a temporary, fraudulent move before they lower them again. Just as Schiff predicted, there was no rate hike in September. Our phony debt-and-inflation driven "recovery" will implode without QE...and when the more people realize this, it will implode anyway.
I once had the opportunity to work for Peter Schiff, but did not take it because I have no idea about the merits of his investment strategy, which is a completely separate issue. But he is absolutely right about the state of the U.S. economy and his criticisms of current economic policy.
fred wrote:
A self perpetuating spiral begins with negative self talk
Oh, I see. If we talk positively about the economy, that will make it do well.
jamin wrote:
Oh, I see. If we talk positively about the economy, that will make it do well.
It worked for me... I saved the economy and all I did was talk it up.
Øbamao™ wrote:
jamin wrote:Oh, I see. If we talk positively about the economy, that will make it do well.
It worked for me... I saved the economy and all I did was talk it up.
lol
Look at who runs the Fed. Look at what the Fed does. LOL "Schiff". Another of the lying hypocrites robbing all of you. Never trust people of that ilk. Their hatred of "the other" and propensity to lie are genetically based.
On July 16, 2012, Schiff, CEO and Chief Global Strategist at Euro Pacific Capital, said he expected gold to reach at least $5,000 an ounce. Gold had closed the prior day at $1,590 an ounce. Schiff asserted that, with central banks keeping monetary policy loose, gold was likely to spike thousands of dollars higher.
Gold never came close to Schiff's prediction. Friday, gold closed below $1,150. If you've been holding gold as Schiff advocates, you've lost money.
^^Hey idiot: Schiff didn't say gold would hit $5000 an once by Oct 2015. He said it eventually will IF the Fed does not change course. Anyone who is familiar with his commentary and is anything more than a typical hopeless liberal idiot who takes isolated statements out of context knows he qualifies his advice by insisting that gold and everything else he recommends owning can be a losing investment in the short term. His book published 2012 even says that if you need your money within three years, don't buy gold. But don't let respect for fact overcome your envy, keep hating away.
Oh, sure, it will hit $5k....someday. Maybe in 100 years when a dollar is worth what a quarter is now...or something.
So then he'll be a genius!
Meanwhile, even with this year's losses, you'd have made a great return in a basic, no frills index fund. But index funds aren't sexy and you can't build websites and commercials around them, like you can gold.
I left something out.
"Meanwhile, even with this year's losses, you'd have made a great return in a basic, no frills index fund."
should also have added for clarity, if you had invested that money in 2012 in the index fund, and not in gold.
He is the man
Tinfoil Hat wrote:
On July 16, 2012, Schiff, CEO and Chief Global Strategist at Euro Pacific Capital, said he expected gold to reach at least $5,000 an ounce. Gold had closed the prior day at $1,590 an ounce. Schiff asserted that, with central banks keeping monetary policy loose, gold was likely to spike thousands of dollars higher.
Gold never came close to Schiff's prediction. Friday, gold closed below $1,150. If you've been holding gold as Schiff advocates, you've lost money.
His gold buggery is the only thing that I don't like about him
Schiff head wrote:
Peter Schiff has been right a lot more than he's been wrong. He's been saying all along that the Fed will never raise interest rates, or if they do, that it will only be in a temporary, fraudulent move before they lower them again. Just as Schiff predicted, there was no rate hike in September. Our phony debt-and-inflation driven "recovery" will implode without QE...and when the more people realize this, it will implode anyway.
BFD, I could have told you that too.
What you fail to realize, is the metals market ratios are unbelievably skewed. Metals stock, such as Ag and Au, are leveraged at 100+/1. In other words, the metals market is so heavily manipulated by banks with massive paper contracts, that they have suppressed the true price of metals. At today's 'values', it's a steal.
Schiff has sounded the alarm for a long time, but he doesn't press the buttons.
Understander of things wrote:
What you fail to realize, is the metals market ratios are unbelievably skewed. Metals stock, such as Ag and Au, are leveraged at 100+/1. In other words, the metals market is so heavily manipulated by banks with massive paper contracts, that they have suppressed the true price of metals. At today's 'values', it's a steal.
Schiff has sounded the alarm for a long time, but he doesn't press the buttons.
Woulda, coulda, shoulda.
Woulda, coulda, shoulda, what?
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