Peter Schiff was right

cd27

Member
Joined
May 1, 2009
Messages
89
Website
libertyireland.wordpress.com
Economist and fund manager Peter Schiff predicted the economic collapse in the US successfully. He's a voice worth listening to, predicting the long demise of the US.

The proof in video clips below.

[ame=http://www.youtube.com/watch?v=Z0YTY5TWtmU]YouTube - Peter Schiff was right 2006-2007 - CNBC edition[/ame]


Well worth a look and great entertainment value.

Any other vidoes or opinions on Schiff please post.
 


liamfoley

Well-known member
Joined
Jun 27, 2008
Messages
3,267
It was no prediction, it was the implosion of the subprime market in 07, it was in the news back then, I returned to Ireland (despite complicated personal circumstances) because I knew it would be easier to ride out the worst of a recession in Ireland. Remember the dip in the markets late in 07? I just cannot understand why people didn't see it then.
 

20000miles

Active member
Joined
Aug 14, 2008
Messages
257
Website
www.irishliberty.wordpress.com
His hour-long speech at Mises U. is worth listening to:

[ame="http://www.youtube.com/watch?v=EgMclXX5msc"]YouTube - Why the Meltdown Should Have Surprised No One[/ame]

As well as the famous "Art Laffer owes Peter Schiff a Penny" video:

[ame="http://www.youtube.com/watch?v=IU6PamCQ6zw"]YouTube - Peter Schiff - (Former Ron Paul Economic Advisor) Versus Art Laffer (Former Ronald McReagan Economic Advisor) - August 28, 2006 - Peter Schiff [Pimp][/ame]
 

cd27

Member
Joined
May 1, 2009
Messages
89
Website
libertyireland.wordpress.com
It was no prediction, it was the implosion of the subprime market in 07, it was in the news back then... I just cannot understand why people didn't see it then.
Except that, he predicted this in 2006...and also if you look back at other youtube clips you'll see predictions after the tech bubble burst in 2001, him saying that the Fed was just going to inflate another bubble with its lax easy money policy....and look what happened.

The Laffer clip is hilarious.

Is Dan O Brien the Irish Schiff?
 

Eorna

Active member
Joined
Nov 24, 2008
Messages
204
Peter Schiff has a better track record that Nouribi (is that how you spell it). I always enjoy his talks, even though I would not subscribe to the libertarian views that he sometimes expresses.
 

142857

New member
Joined
Dec 19, 2008
Messages
3
Schiff was right... on many things. He overestimated European and Asian stocks, and how well Europe would do in the recession (though I think he is correct, in the long term, about the positions of the creditor countries like China - save a war)

Peter Schiff has a better track record that Nouribi (is that how you spell it). I always enjoy his talks, even though I would not subscribe to the libertarian views that he sometimes expresses.
I relate.

The strength of Schiff's track record, and Austrian economics, is in certain logical axioms, and its stance on epistemological issues (ie what can be known).

However I don't agree with a truly laissez faire philosophy.
 

cd27

Member
Joined
May 1, 2009
Messages
89
Website
libertyireland.wordpress.com
Will Central Banks be able to drain all the extra liquidity out of the system to prevent price inflation? Peter Schiff doesn't think so.

[ame="http://www.youtube.com/watch?v=-mfALQBLPCE"]YouTube - Peter Schiff The Schiff Report Video Blog May 29 2009[/ame]


Neither does Chancellor Merkel judging by recent reports.
 

cd27

Member
Joined
May 1, 2009
Messages
89
Website
libertyireland.wordpress.com
Peter Schiff on gold:

27th May 2009
Euro Pacific Capital : Because there's a bull market somewhere.

"A few weeks ago, a caller into my radio show asked me, "How do I know when a bubble has formed in gold?"

I replied that you will know when everyone is buying it, people believe that the price will never fall, and you are called a lunatic for trying to sell it.

Fortunately, we do not have a bubble in gold. In fact, due to a "flight to safety" into U.S. dollars and bonds, the gold price had receded to the $875 level, although it has moved back to $950 in recent days. Skittish investors have begun to doubt the potential of gold and even sell some of their holdings.

What we have here is the opposite of a bubble: the fundamentals of gold are strong yet it remains extremely cheap.

Consider the following:

China is quietly making massive purchases of gold bullion and trying to reduce their intake of U.S. dollars. China's gold holdings have almost doubled since 2003.


Obama's latest budget calls for another $5 trillion in deficit spending before the end of his term. With the Chinese buying fewer US Treasuries, the national debt will have to be financed through the printing press.


The only way to stop hyperinflation is to drive interest rates through the roof. But, doing so would bankrupt a vast majority of homeowners and the U.S. government itself.
All of these factors are bullish for gold. So, why is it so cheap?

Because the world economy is in flux. Investors made a knee-jerk move into the U.S. dollar, thinking it was safe. When they realize the dollar is not really "as good as gold," soon $950 an ounce may sound as ridiculous as penny candy.

Shrewd investors see a buying opportunity. Those with gold holdings are doubling down while the price is still low
".
 

Eorna

Active member
Joined
Nov 24, 2008
Messages
204
He has a great track record on this, and he is very bearish about the U.S. economy, well worth following his opinions.
 


New Threads

Popular Threads

Most Replies

Top