Survivalist Forum banner

1 - 16 of 16 Posts

·
Registered
Joined
·
8,228 Posts
after watching some of the past youtube videos and seeing just how right he is i will lesson to no other economist :thumb: he was right on and even after being laughed at and teased, he didnt waiver. he was trying to warn everyone, but it fell on deaf ears. and it is so obvious they hadnt got a clue or they was just tring to get us to buy what stocks they are paid to promote.either way their credibility is totally gone.
 

·
Registered
Joined
·
143 Posts
People need to stop idolizing this guy. While he was right on some thing, he has been incredibly wrong on others. For instance, for a guy that prides himself so much on his ability to predict the market, he certainly did not do any favors to the people he invested for recently. Others have made similar predictions, and they have had far less vested in the commodities market, like Schiff here. He stands to gain a lot by driving the commodities market up.
 

·
Registered
Joined
·
452 Posts
Discussion Starter #9 (Edited)
People need to stop idolizing this guy. While he was right on some thing, he has been incredibly wrong on others. For instance, for a guy that prides himself so much on his ability to predict the market, he certainly did not do any favors to the people he invested for recently. Others have made similar predictions, and they have had far less vested in the commodities market, like Schiff here. He stands to gain a lot by driving the commodities market up.
Of course he stands to gain... That's what makes the free market work. Right now is a temporary downturn in commodities. This is caused by other countries de leveraging.

Just wait to see what the dollar looks like once china stops buying T-Bills to pay for their bail out. Especially if they start dumping the dollar. Also the Arabs will stop buying T-bills. Give it time my friend.
 

·
Registered
Joined
·
8,228 Posts
all i know is he seen it comming and tried to tell us when NO1 had a clue what was going on. bottom line proof is in the pudding. and he called it when no1 else did.
 

·
Registered
Joined
·
143 Posts
Of course he stands to gain... That's what makes the free market work. Right now is a temporary downturn in commodities. This is caused by other countries de leveraging.

Just wait to see what the dollar looks like once china stops buying T-Bills to pay for their bail out. Especially if they start dumping the dollar. Also the Arabs will stop buying T-bills. Give it time my friend.
The problem is that the man cannot even guide his own investors in the right direction.

Good luck with seeing either scenarios of those live to fruition. Regardless of the short-term cost to their markets, they will not risk obliterating the dollar because it would inevitably result in a collapse of their own markets down the road due to a collapse in the Eurozone and the Americas.
 

·
Registered
Joined
·
206 Posts
I've followed Schiff for several years. His central thesis is correct. However, so far it appears he was wrong on his decoupling theory, which basically said that China, in particular, was poised to prosper even while we were in the tank. At this juncture it looks as if China is in as bad, if not worse, shape than the United States. Over time his theory may prove to be correct, but right now that aspect looks incorrect. China's economy was mostly built on their exports of cheap junk. Now that the US and Europeans are not buying, they are tanking. They're shutting down dozens of factories each week. I listen to Schiff's opinions on the US economy, but I don't take his specific investment advice.

As for Roubini, he too called it. But his prescriptions for getting us out of this mess I totally reject.
 

·
Registered
Joined
·
1,231 Posts
The problem is that the man cannot even guide his own investors in the right direction.
Do you have money invested with him? I do, and I'm up about 4% for the last 12 months. Some people would say 4% is crap. Ask all the people who's 401K's have tanked in the last year if they'd settle for a 4% gain instead of a 30-40% loss.

Peter Schiff isn't the messiah, but he's smarter than the majority of Wall Street. Keep dissing him, and his customers will keep thanking him.
 
1 - 16 of 16 Posts
Top