Peter Schiff is God. NOT! Why You Shouldn't Listen to Experts (2 of ?)

[rmccay88]

In a general sense you are right. People with the finest degree from elite liberal Ivy league colleges didn't get the crisis right but where you are wrong is using Peter as the example. For God's sake, he is the one who got it right. The only mistake Schiff has made if you want to call it a mistake, is in some of his timing i.e. his dollar collapse prediction but that will eventually happen it's only inevitable. This topic is more to psychology and emotional intelligence than investing honestly.

[istt]

You make some good points. Time is a key factor when making such predictions and very few advisors get it right.

[MrGronka]

You have a good point that "Highly Educated People" should not be blindly followed, but I think you need to give yourself more credit man. You'd be surprised at how much a high-schooler can accomplish if they simply work hard - I know a dropout who retired early with a paint business and does math for fun in his spare time.

[qlcmusic]

If you buy physical gold or silver you will not lose 100% ... I'm going to go as far as saying that so long as you buy physical you have a 100% chance of not losing everything aside from getting robbed.

[n057828]

US Dollar is made to fall for a solution of something ahead. ZJEWS/World wants it to.

[littlebier8]

Further, human nature is what it is. People, ALL people, act in their own rational self-interest. Anyone who has even been near an economics or history book knows that people peacefully pursuing their separate interests is what not only unites people, but drives the engine of the economy that produces wealth and prosperity.

In the ONLY cases in recorded history where people have escaped the grinding poverty of base existence are where there has been PEACE and FREEDOM.

[littlebier8]

Look, predicting markets is impossible, everyone understands this. But predicting the long term consequences of POLICIES on markets is not.

Economics is a science, with set laws that govern it. To claim that it's okay to jump off a building, because "No one can know the future," is ridiculous. The law of gravity is what it is. The same is true for markets: if you print too much money, you get inflation. If you put price ceilings in, you get shortages. These are LAWS of science, not guesses.

[zarni000]

You can print a lot of money. If that money is not being spent it will not create inflation.

It is not the money supply but the VELOCITY of money and credit expansion (LEVERAGE) that creates inflation. Putting it in plain terms - 1 dollar circulated 100 times will create more inflation than 10 dollars circulated one time.

(continued)

[zarni000]

(continued from above)

What we had during the time of credit expansion 2000-2008 was accelerating velocity of money coupled with credit expansion (e.g LEVERAGE) set the stage for this collapse. The expansion of money supply may be just right to balance out deleveraging and slowing of money velocity.

[myheadhurtsnow]

That leverage was created by printing money.

[BlacksAreBeautiful]

Sir, i don't think it was necessary to make a 6min video to tell us that Schiff or anyone else for that matter can't predict the future..Like someone else said and it makes sense to me...Timing is speculating, and Schiff is not into that I can't believe you're knocking him because he couldn't time the collapse..if you watch his videos, every single time he was asked to predict when it would happen, he said he didn't know..that's honest enough for me...this was a poor video in my opinion!!

[MarcusCMarcellus]

Marc Faber was on Bloomberg TV on March 6, 2009 and called the low that day. Some people are just better traders and investors - Schiff ain't one of them. He's a broker selling foreign stocks on commission. Why are his minions so hostile to ANY criticism of Schiff? Answer: you learned about economics from him and him alone. Schiff has never managed a hedge fund (he's a broker), so we simply do not know his record versus the people he demonizes.

He also need to learn some manners.

[TheEVEInspiration]

You say Peter Schiff's advice caused his clients to loose up to 70%. A well known story he himself debunked as untrue.

In my own logic the claim can not even be true...due to his investment strategy. Cheap, high dividend paying foreign stocks of good running companies. Meaning you are in for the dividend over time for a 2nd income (investing), not the 'speculative' day price (trading).

[TheEVEInspiration]

When the market crashed, every stock lost paper value in an instant, but the dividend streams remain for now largely unimpaired.

And yes on paper you can easily loose up to 70% value during the burst A fact that is a problem only when you need to sell (trading, or overextended yourself). Again, not the advices Peter gives!

Yes, he can't be right all the time. But he has demonstrated to have very valuable insights and in my opinion can explain these clearly and is honest...a good source!

[SailBryan]

I guess we can learn Mandarin and become an expatriot or maybe just try and get by on English in say Singapore (just don't get caned). But at my age I can't move really impractical. But do I buy gold, food, guns, and generators...I don't know. If America goes down I may just have to go with her.

[TimTrimT]

Dude it's not about smart. It's about common sense. Your logic is a bit long winded and illustrates more pedantic verbosity than common sense.

Peter Schiff is not God, you are right. I don't need to defend him. In fact US media is almost as much a farce as US investments. But a month before Thanksgiving '08, my beliefs and his came into alignment. I cashed out my entire 401k, ROTH IRA and all the rest and bought PM's just before their climb. Lucky? Smart? No just thinking on my feet. USD=Zilch

[cvenzke410]

Is it just me or are you just hitting every branch on the way down from the top. You really need to do much more research before you speak such non-sense.

[Asko2222]

oh boy, you really don't understand economics. Maybe because you're not one.

[leebee39]

why anyonne beleive obama hes a proven liar

[roosboom]

You talk about timing. Timing is about speculating. Peter is talking about fundamentals. And he is damn good in understanding that!

[BsNJuggernaut]

MAXIMIZATION, the first mirco economic princple!

[rawjhaw]

I think you should be more concerned about making a "Barack Obama is G-d. NOT! Why you shouldn't listen to our elected puppets" video. He has exponentially more kool-aid drinking followers than Mr. Schiff does.

Only a fool would take the advice or track record of one individual only into consideration. It's the prudent person who examines the facts and listens to many different opinions/beliefs... you just have to hope YOU are smart enough to know the truth when you see/hear it.

[rawjhaw]

(cont.)- and for the record, no one is claiming Schiff is some Nostradamus. His overall macroeconomic forecast for the U.S. and world is simply dead-on accurate. His company's investment strategies were hampered by unforeseen events/conditions that I can't get into here... but you will see that his overall prediction for the economy and the US dollar is right on the money - literally.

[pangiagold]

Growboy - Appreciate your video and point of view. I think the best resource we all have right now are people like yourself (and others) within online communities who have some expertise and a willingness to share and generate discussion. I understand all the reasons why gold seems like it will be THE ANSWER to what seems like an inevitable devaluation of the US$ - it just all seems too simple. Everyone just all buy physical gold now, and we will all be OK. ....does not feel right to me.

[RenaissanceCapital]

I see what he is saying about Peter Schiff; however, Schiff may be right about the possibility of hyperinflation. While I am not sure about his prediction of $5000/oz gold, I do think that we can expect inflation with the ridiculous government spending deficit. Sure, we have short term deflation, and low interest rates. I just don't see how this is going to last. Using history, economics, and math, I see inflation over the next 2 years. Even Buffet said the same thing.

[thornlessrose2009]

All he's saying is don't be a "sheeple" ..either way. Why are some people so angry by Growby10's vids? If one is sure that one's conviction is the "TRUTH".. then there is no reason to cuss and scream and basically get nasty. The TRUTH is HUGE... HUGER then one individual... does it need defense if it is indeed THE TRUTH? The nice thing about the TRUTH... is that in time... it reveals itself. Thanks again Growby10 for your perspective , I disagree with you but I respect your opinion.

[iamgabrielf]

Between good will and intelligence there is an "inverse relationship." You've been listening to your communist propagand a little too much. Say "hi" so Mao for me.

[Growby10]

iambabrielf. where do you get communism from?!!? the fact that I'm offer a different perspective for other than following blindly to those who are considered "market experts" is considered communist?!?!?

[jfnuyen]

I do not really know who you are Growby; but, I think most people are like cattle or sheep. They need a leader and most of these so called "leaders" are most likely in this game only for their own gain. If things don't go as they say, they just, sort of disappear. It is best to take their advice and then think for yourself.

[MrGronka]

@Growby10 Don't take it personally - to iamgabrielf that statement sounded like someone who doesn't believe in a free market. It's not that you actually listen to said propaganda, you simply share similar beliefs, and iamgabrielf was denouncing the entire belief system.

Not that many Schiff supporters lost money - I met a few of them during the money bomb, and they said the largest group who lost were people who set up towards the end of 2008 (bad timing)

[iamgabrielf]

"... timing is a key." What the hell is wrong with you? I can't believe you said that. Are you suggesting that you know more about timing than the who people get it wrong, or the ones who get it right? TIMING IS FOR GAMBLERS AND IDIOTS. What matters is the fundamentals over the long run. Schiff has stated this over and over. If quality falls in price, you buy more. This is Buffett, Graham, Rogers, Faber, etc.. We listen to experts with credible records so we may learn more about fundamentals.

[Growby10]

my initial reaction is to rip you a new AH as big as the gap in your understanding....which seems to be massive.

your parrot like comments and the subsequent listing of today's favor-of-the-month financial luminary's is all too common...wouldn't u agree? and lacks any depth.

The FACTS conclude we are in a world different than what you believe is reality. You seem intelligent enough understand the obvious...so, Im go say please think for yourself and look a little deeper.

[Growby10]

Let me ask you. What do you mean by fundamentals? The same fundamentals that the experts proclaimed over and over again...all the way up to 14K and most the way down?

The same "fundamental" investing strategy that fund managers and the elite brain wash you weak minded people to believe that they can regularly and continually beat the market!?!?

[Growby10]

Timing in life is everything...and in investing it's no different. Fundamentals or not...you're going to "Time" when to buy and sell, right? or will go AGAIN ball back on the mind-numbing mantra of buy and hold, buy and hold... Ad nauseam.

thanks for the joining this discussion!

[kswatcher]

Thank you for helping me to keep a more level headed perspective on the short term probability. It is difficult not to panic when you are on a sinking Titanic, the illuminati have confiscated all the life boats, and everyone is yelling "Jump!"

[Growby10]

i4truth. Why is it so hard to get these ideas through?!!? Great comments. Thank you!

[i4Truth]

One more comment. I've been pointing out for several months now that while Peter Schiff correctly called the financial crisis, his investment recomendations of foreign stocks and comodities through Euro Pacific Capital were disasterous and actually lost more than the stock market as a whole. Good video, I hope more people wake up to the truth about these so called "experts"

[i4Truth]

Education at a big name university does not indicate superior intelligence and certainly not common sense! The problem with Harvard grads is their herd mentality when it comes to leverage. Excess leverage so endeared by the elite MBA crowd is at the heart of the financial crisis and has proven itself to be a poor business model. Companies who resisted this foolish Ivy League fad in favor of a strong balance sheet. will survive the crisis. Good old fashion fundamentals are not not dead after all

[trade350]

August 2007 Ben Stein saying "buy Merill Lynch MER -great earnings!" Peter Schiff said "what earnings? It is a disaster." I am not saying blindly follow either one. But it served the purpose of making one think which guy is MORE right? Looking at a chart of MER it had already topped out by August 2007. Look at a multiyear monthly chart. Draw a trendline under it. You could easily see the yearly trendline was broken, thus making Schiff right and Stein wrong as of August 2007.

[mneedes]

Peter Schiff ain't god, but there are a lot of people who have done worse. He is certainly not a timing guru. Even Warren Buffett hasn't been doing well lately. Jim Cramer (sp?) and the perma-bulls are the worst. Use those guys as a better example. At least Peter Schiff believes in sound money policies.

[Growby10]

Thanks you for that long list of "Market Experts" that are dieing in this market. But you know what...those guys are too easy a target and NOW it's obvious that they totally got this market wrong.

I mention (not attack) Peter b/c this is current in the same position...even higher? than many or most of past permabulls.

Now the roles have been reversed...any anyone "attacking" Peter gets the same treatment as Peter once did for attacking the permabulls. isn't that ironic. Thanks!

[dieonyourfeetDEC16]

Schiff´s fans know that he is human.We don´t think he has superpowers,we are aware that he can make mistakes and that he is not all knowing.I was impressed by him because of the strong mainstream media opposition he encountered.He was constantly attacked and ridiculed, and he patiently explained time and time again that there was a housing bubble,that a severe recession was coming,that Fannie n Freddie were going under and that the financials were crap.They laughed at him time and time again.

[Growby10]

@dieonyourfee. Very well said!

But if investors were to take my advice back then...then they would NOT have listen to those "mainstream media" market experts and instead...maybe consider Peter's point of view.

So, it's NOT Peter I'm attacking here. it's the blind following, non-critical thinking of those who just follow the favor-of-the-month-guru.

thanks so much and i will be doing one more in this series. be sure to check it out and comment. Thanks!

[dieonyourfeetDEC16]

I don´t really get your point. Is it that people should think for themselves and educate themselves, be skeptic and not believe that everything ´´experts´´ say is necessarily true, just because they are experts? And to be careful with the risks inhenrent in stock trading? I really hope people are already doing that.

[Growby10]

@dieonyourfeet. Your very clear example of the "media market experts" attacking Peter is proving my point. Those who follow someone w/ their eyes close....often fall in a hole. thanks again!

[skyding8962]

You make a good point about the timing. I just want to add that schiff never lost anyones money because he doesn't manage peoples money and also in order for a person to lose the moeny they would have to sale at a loss. Many are in for the long haul so they really haven't lost anything yet.

[KnockAr0und]

4 stars.

The general idea is on target, but Peter Schiff is a rather misleading example. You're blaming the victim. At the time (Aug 06') it was smart-alecks such as Art Laffer who were financial gods and Schiff was laughed at. Peter did indeed give a time frame (07-08). Moreover, he published a very insightful book which did in fact help people (Amazon reviews shall testify).

[Growby10]

@knockar0und. Great comment sir! But, what i'm saying to Peter (and other hot gurus now) is exactly the same message i would have said to the followers of Art Laffer (2-3 years ago)...and i would be proven right.

The point is at any GIVE moment in time there are these "market experts" that are popular,charismatic...but most importantly, RIGHT about the markets. But that should never not lower you mental guard to what they are saying, predicting, etc. just b/c it's so-in-so who's saying it.

[KnockAr0und]

People who do listen to these Ivy league experts do so on the premise that the probability of them being right is substantially higher than that of a layman or college graduate. There is of course the element of betting on the stronger horse. i.e., two conflicting experts can't be right at the same time, and at times choosing the weak horse can be very detrimental.

Schiff has a whole chapter on this issue in his latest book entitled "Beware of False Prophets" (p.43). Might want to check it out.

[Growby10]

Your absolutely right about why people listen and "bet" on these Ivy league experts. But, time and time again they have been proven that they can NOT beat the market over any extended period of time. I touch on this in my "Stock Market Crash Bottom" video.

Thank you for your thoughtful comments

[Growby10]

YOU GOT IT! Time-horizons is key!!! and most are missing from the crystal ball of these "market experts"...for obvious reasons. But,t his video was NOT an attack PS or other gurus. It's more a nudge and for some, a slap, to get them thinking on how THEY...and how we all chose to invest our precious hard earn money.

Thanks so much and check back for more to come!

[tobi0916]

"NOWHERE, did I bash PS"

- I'd be very worried about having a parrot manage my money.

- only a moron would arguing the factual past....with a hypothetical future occurrence.

- the talking heads are offered up to us AS experts.

This is getting boring. Now your saying a moron could have predicted the crash? Right, and all the "doom and gloom" morons who warned about it are still morons because no one should listen to anyone unless they're 100% right 100% of the time.

[Growby10]

@tobi

Please read the comment carefully. that Parrot comment was towards panleh75.

Click on the "view all comments" and you'll see the flow

thanks!

[tobi0916]

Growby10, you made your point. People should learn and think for themselves. 'But' stop with the Schiff bashing. He's a stock broker and investment ADVISER and his advice is sound. Your forgetting that he got this fame and much deserved respect for warning/predicting the housing bubble. Had people listened to his 'advice' years ago the world wouldn't be such a dystopia now. The only reason why he's not a 'hero' is because he was ignored and laughed at. He's as honest and credible as they come.

[Growby10]

NOWHERE, did I bash PS. Everyone is getting so worked up b/c i stated, what i think, is the obvious. think for yourselves. Learn, research, contemplate...think before following ANY expert.

thanks!

[Growby10]

In fact, i read his book and find he a great debater and communicator. he has been right...i said that over and over again. but just b/c someone is right about ONE thing...doesn't make him RIGHT about Future events.

trust yourself before trusting others

[brovic777]

This is pretty much Peter Schiffs response to the current crisis. Schiff is like Data from Star Trek, all logic, with absolutely no human compassion for the millions unemployed!!!!!

[Growby10]

thanks again for your thoughtful comments. Please join in when i do my next video!

[brovic777]

Peter Schiff made come logical predictions on what happened, which came to pass.

BUT, his solutions on how to fix the current economic crisis are WAY OFF!!!

Though our government should spend less, with 11 Million-plus unemployed American's, there is no way we can just cut back government, and let them all rot in hell.

[jreberholt]

What a waste of 6 min of my life

[Growby10]

why?

[chromedreamz]

peter advocated gold years ago- If anyone just listened to that and his prediction of the US collapse, they would be up 50-300%-everyone got in late-and was afraid of 'barbaric' Gold

[Growby10]

yes he did. but he also pushed foreign stocks and the PREMATURE collapse of the US dollar....which has cost many who followed ALL this advice lose money.

But that's not the point. Just because he was right on gold...does that mean YOU and EVERYONE should have listen to ALL his advice (i.e. foreign stocks and the dollar, etc)? Of course not. I'm saying, listen, and then USE YOUR BRAIN (research, study, contemplate, etc)...NOT JUST FOLLOW.

And what about all those other Wrong Experts?

[panleh75]

Lol....ok you dont know much about economics do you?? ??? I hope you havent been in the stock market?

1. Dollar is up because of the shorts been covered and all the deleveraging that goes on and money is being brought back to the US from abroad......as soon as that stops.....bye bye dollar.

Actually they shouldnt have lost any money. The dollar droped for a while and had they been short they would have made a good 10%,,,,(and that is without leverage)....do you have any idea about markets???

[Growby10]

This is coming from an financial adviser?!?!? If I were a client, I'd be very worried about having a parrot manage my money.

Thanks for that clear and much repeated statements about the dollar....but, why I ask you, if it's so OBVIOUS...then Peter didn't warn his clients or all his loyal fans of something so ELEMENTARY?

[Growby10]

Oh...is Bruce your FRIEND?

You can argue where the dollar WILL go...but the FACT is that PS prediction were WRONG and people LOST money. Do you understand this FACT?

only a moron would arguing the factual past....with a hypothetical future occurrence.

maybe moron is too harsh a word....let's stick to a Parrot.

Cheers!

[bl782]

Im a client of europac but guess what I made money in 08, that proves Schiff didn't manage money.

[brovic777]

Great Video, and your 100% right!! :)

[Growby10]

thanks! and help me w/ love rating LOVE =)

[zweer13]

I support you, certainly critical points we all needed to hear. Nevertheless weighting + and - we may still decide to support Peter Schiff and the likes, even if they are serf serving, but running for a good cause.

[Growby10]

absolutely! ONLY AFTER careful thought and consideration (on a on-going, regular basis) should we decide to follow PS or any other "market expert"....but the said fact is they here something that he or others got RIGHT..and they fall for him like some love struck teenager. just look at the comments here. You'd think I stepped in to a PS fan club love fest =)

[panleh75]

3. So they are actually making money from dividents. Dont go around spreading wrong facts it isnt fair for Schiff.

Educate yourselve b4 saying things like that.

[sca773r]

i meant o say... "those assets will always give you some return"

[panleh75]

2. The people that invested with SCHIFF HAVE NOT LOST A PENNY.

They invested in DIVIDEND PAYING STOCKS. Their stock value went down by 70% BUT that doesnt matter , cause they were never intending to sell their stocks.

[bl782]

DAM RIGHT I one of them Also The gold I purchased is separate from my stocks picks & I doubled any loss in Stocks by heavily investing in Gold, plus what if the USD collapses I'm diversified, It wont affect me 1 bit!!! PS didn't manage my money either, I pick & invested the way I wanted, and so did everyone else.

finally PS had sucess for 6-8 years so people shouldn't argue against schiff long term strategy till at least 2010,2011.

[Growby10]

Was PS that convinced to you buy gold? Would you buy anything he says? If not...ask yourself why. You'll prove my point in your own head.

Thanks!

[Growby10]

Not lost a penny?!?!?! You just lost all your credibility. PS admitted he was WRONG and investors LOST money. thanks!

[bl782]

No your wrong, If I put 80% into gold and silver then put 20% in stocks, then even though I lost money in the stocks overall I have not lost a penny because I remade that in gold & silver that what is what I said, and I did not say he was god review my messages, did I claim he was omnipotent no if he was he'd be the richest dude alive...

[bl782]

really I only made an europac account because of the friendly user website of his to purchase my gold and then I said what the heck and put only 20% percent of what I was willing to risk in foreign stocks and the rest in gold and silver. Peter also stated publicly his clients varied in losses & gains, I did not do the whole foriegn stock idea but gold is a different story unlike paper gold cannot be printed.

[sca773r]

Schiff strategie is for high dividend stocks with sound fundamentals and he focusses on energy, mining and comodities because those assets will only give you return. you can´t value a stock simply by its market price. less jobs doesn´t mean deflation. inflation will always occur if the new money created is greater than the amount of goods and services created. doesn´t matter were the money comes from (wages, credit or fed money)

[Growby10]

which fund manager DON"T look at sound fundamentals? They all try to pick winners...but the great majority fail to beat the market. thanks!

[panleh75]

2 BIG FLAWS IN YOUR THESIS.

1. Intelligent personalities with malignant intend comes ONLY from people that DO NOT BOTHER ABOUT THE FUTURE too much...so any scum is desinged for the short future

[Growby10]

what the hell are you trying to say here man?!!?? Anyone understand this guy? I want to reply...but don't know what your talking about...is it just me?!?!?

[Growby10]

@panleh75

I do apologize if English is not your native language.

[panleh75]

lol....apologise all you want I am up 25% because of Schiff, Rogers , Faber and Rubini.....I am glad I didnt listen to you advising us not to listen to Philosophers of economics....dillweed

[WA4RRN]

Growby10...Kool presentation! Sounds much like what Schiff has been warning about for years...

[motina10]

You're projecting! Are you the reason for education standardization, which debilitate innovation and lead to.. well what we have now, an unproductive society.

The problem with your argument is, is that Schiff is one of many. Now if you put your faith in international organizations. Schiff is free-market. If he fail there are always others to fill the void. The internationa organization might be too big to fail.. so they are obviously too big.

[Growby10]

so being a free thinking and NOT follow any expert is the reason why have an "unproductive society"?

Isn't it the fact that we in the US are some of the freest, most imaginative people on earth that has increased our productivity over the years???

your 2nd paragraph...and your argument about international organization doesn't make any sense. can you clarify?

thanks!

[motina10]

If you take the UN, or WHO, WTO these are monolithic organizations that thry to unit everything.A bunch of experts under one banner. A bunch of private experts like Petyer Schiff, who are one of many different types of experts create a plurality of options and opinions.

[donharlan1]

Schiff was right about the real estate collapse. He was wrong about the dollar collapse and commodities continuing to increase in value. He still says the dollar will collapse and commodities will go up.

He may be wrong because if unemployment continues to rise, there will be deflation. The only way there will not be deflation is if the government starts giving money to the people instead of the banks. Yeah, right... Cash is king!

[bl782]

CPI raised .08 So far he's right you might argue thats a fluke, so next month when it goes higher, last time I paid my bills energy & food went up. Jim Rogers has predicted the crisis & unlike Schiff predicted the USD rally but if you knew his veiws, its happening. Thirdly public outrage at Bush TARP forces Obama to ensure any new capital will be lent out. Only about 10% of TARP made circulation and we saw a .08 increase in food, lets see what happens next when TARP2,TALF,Stimulus, etc start???

[bl782]

deflation is better then inflation. 20$ to heat a house for a year or 5000$ a month, also FIAT currencies can never have a long lasting deflation threat because they can always print the difference, now unemployment can get worse and still cause inflation, If we were On a Gold Standard I would agree on deflation risk. Lets think Bank employees & autoworkers & thier families all got cheques when they got TARP, We saw .08 rise in food over that little amount in circulation. 3,700 FIAT, All failed.

[hellavadeal]

Most people are willingly ignorant . it takes effort to learn for yourself. Good vid. Anyone that opens their eyes and watches the world trends could have seen what was going to happen. Trusting others to tell you what is the right move is often wrong.

[Growby10]

you hit exactly what i was trying to get across in this video. thanks so much for those comments!

[erushbass]

what a load of drivel, you should concentrate more on stupid people if you think being greedy and self serving is the norm.

Peter schiff has openly stated he is not a highly intelligent man, it is his experiance and carear path that allowed him to predict what is happening.

[Growby10]

So YOU think that those on Wall St, the bail-out bank, etc. are NOT normally greedy?!?! Ok, so it was their good will towards their fellow man and overflowing generosity that got us into this mess.

I don't know what planet you're from but GREED and SELF-SERVING ACTION are 2 of the foundation of Capitalism, no?

thanks for the comment!

[erushbass]

I dont think wall street or the bankers are any less greedy than the people who invested hoping to makes some easy money, or signed a mortgage whilst lying about there income.

Greedy and Self serving people operate whithin capitalism at all levels, because some people are greedy and self serving, but if you think these traits are the foundation of capitalism your are wrong.

Capitalism has improved the quality of life for EVERYONE.

Id rather be poor now, than rich a hundred years ago........

[erushbass]

Capitalism = You may consume, but only if you produce, the more you produce the more you may consume.

Or in other words,

You can have anything you need or want, but only if you help enough people get what they need or want.

[eurogoldexchange]

Don't confuse being a tv talking head with being intelligent. And if it is about the future, an 'educated' guess has anybodies preference..

[Growby10]

right. but those who are the talking heads are offered up to us AS experts and someone opinion we should with respect...if not out right follow. a lot of people don't believe that these talking heads have their own agenda and many times is one that is counter to those of their audience. thanks for the comment!

[tobi0916]

Your overall message (which is an important one) is to never invest in something you don't understand and intelligence can not predict the future. 'But' intelligence can arm you with the ability to understand the formulas for finding the probability of future events. Hint: the collapse of the housing bubble. Many warned about it, no one listened now we pay.

Take advice which can be backed by facts, and if you can not determine fact from fiction then why the fck are you investing your savings?

[Growby10]

YES! Very well said! That's what i'm trying to get across...but as you can see, we put too many people and ideas on pedestals and any open discussion or criticism gets attacked. thanks again for your comments!

[Atom299]

I understand what your saying but you should listen to as many "experts" as you can from all sides and then make your mind up as to what to invest in and when to do it.

Long term and short term investments are completely different things. e.g. If you're a day trader and looking for a quick profit you should study technical analysis whereas if you're a long term investor you should study the fundamentals and ignore the short term trends.

[Growby10]

i agree...but, just don't blinding follow without your own CRITICAL THINKING. my whole point is not to TRUST or BELIEVE in people JUST because we slap the label of "market expert" on them.

[tonmagicwon]

my prodiction is ,buy a home in 2012 sell your home in''ca/florida/nevada/ arz invest now in rice,solar energy,silver,save your money sacrifice,have no kids,get a 4 cyl car ,and buy a gun and bullets ,fuck bush ,bernyanky,palson,cheney cfr, fed reserve,greenspan

[Growby10]

many people RIGHT NOW are doing just as you predicting. thanks for your comments!

[evolution077]

If you're a long-term investor (not a trader, or playing the future market) timing isn't that important.

And nobody, NOBODY, can excactly time the market. Certainly not in these volatile times, where the greatest market-MANIPULATOR is government & the fed.

[Growby10]

please watch my previous video "Bottom of the market" ...The DOW is at 11 yr lows...so all the money you put in to the market for the past 11 yrs...didn't grow (actually LOST b/c of inflation and the opportunity cost). Also, the NASDQ...those who bought at Nasdq 5,000...and still not even got to 50% after a decade..what does that tell you about long term investing? You are feed this by the same guys who created this mess.

God help you if you still buying and holding my friend.

[Growby10]

it's late...130am. what i mean by "fed this.." is the notion that buy and hold is the BEST way to trade these markets. It is in the Wall St. elites best interest to tell you to always be putting money into the market (and into their pockets)...always buy..up or down..just buy buy buy.

thanks for your comment!

[Growby10]

BTW, i do agree w/ you about the "greatest market-MANIPULATOR is government & the fed. "

[evolution077]

What I mean by long term. Not the market in general. That certainly would be stupid in the present conditions. But looking at long term-trends. And then anticipating (long-term). e.g. short the general market, long precious metals, China, etc...

[neo1147]

It's all about money and power. Forget about what Peter Schiff preaches, or any other Doom and gloom individual that speaks on the economic lesson to be learned

[tobi0916]

Very true Growby10. Instead everyone should listen to people with no education such as yourself.

[Growby10]

wow. I really touch a nerve here! Besides attacking me and saying I'm uneducated...what did I say here that you disagree and that shows my ignorance? Thanks!

[Growby10]

I'm NOT saying Peter Schiff is WRONG or not to learn from him or others...BUT, i'm saying for all of you who blinding follow....it's time you wake up and think for yourselves.

After you do your OWN research, soul searching, etc. only then should you decide on the investment strategies who will pursue. Furthermore, be ready to change on a dime...in these INSANE times, up can be down and vice versa. Good luck to you all!

[bl782]

First your both wrong listen to those with Track records, I made a lot of money in 08, Best Year in my entire life because if you short against government your bound to make money. I barely graduated. Second Growby10 your assessment of PS investors is wrong, Im one and I invested with europac but I only bought gold Which is separate from the accounts for foreign stock. I invested heavily in gold not stocks, so even though my stock pick went down 40 50 % loss, I double my profits in Gold...

[bl782]

finally to people, PS didn't take my money and manage it, I made my own decisions, and also did everyone else. Now PS had a good run for 6-8 years, so really no one can measure against is long term strategy till at least 2010. I am short on the USD & I covered my short IN USD Dollars so like Jim Rogers there technical strength in dollars not fundamental, also JR recently was on singapore TV where JR is shorting US again last time he did that was in september when lehmens crashed.

[bl782]

@Growby please correct yourself, I have watched your vids and you make very good points but you spoke out of place on people who invested with schiff. Those you mentioned that are 70% stock down thats separate from any profits in Gold which they could be up 70%.

[Growby10]

some made money....many did not. How can you say that people who followed his buy foreign stocks and dollar crash predictions did well? That 100% false.

Again, being right is one thing...but timing EXTREMELY important. And in those 2 areas...he was totally wrong and admitted it...therefore proving some of my points.

Thank you so much for your comments!

[Growby10]

so you made money in 08 and now you'll forever bow at PS feet?

[bl782]

No you have mistaken what I meant, to say all his clients lost 70% is pre-mature, Second you do not know if they replaced their losses in gold because there separate, the profits from gold are not in my account that records stocks but a second account, Europac sets it up differently I suggest you go to their site create an account and find out for yourself. ...

[bl782]

Also one cannot criticize a long term investment strategy, till at least 2010 since he had 6 -8 years of success, Timing is not important only if your a TRADER I'm an investor who lives off dividends, I have no intention of selling at any price, I would sell if the dividends crashed but they did not, & remain higher then any US stock and have outperformed the US all of January and this month January.

[bl782]

As I Said you make very good points but PS did not manage my money, I chose which stock and chose how much gold etc, all he gave was advice If anyone lost money to follow one your points people should make their own choices and live up to them because I invested based off my own strategy that was similar to schiff my difference was I shorted fanni and fredi, Ive had cover my short position in USD because of bernanke the other week , I have made a killing betting against "short" citibank

[bl782]

February*

[danbuck333]

Who suggesting that you should believe some one just because they are intelligent (no one) people believe peter schiff because he speaks the truth and what he says will happen does happen. simple

[Growby10]

what do you say to those who lost 70% following his advice? Have you signed up as one of his customers?

As in this video...what WILL happen and what WILL happen BEFORE what he predicts is just as important as his final predictions.

A forecast of the future means nothing unless there is some time-frame guidance, no?

Thanks for the comment!