3/3/2009 Peter Schiff On CNN Newsroom: Managing Your Money

[ianclivewright]

It's like the German people in 1943, in many ways it's quite touching how the Americans are following Obama into the abyss. Lots of change, he will bring, the hope is you get enough to eat.

Just love it.

[ianclivewright]

Paula looks like a porn star about to take of her glasses and get down and dirty. I'm going to look our for her in some movies.

[Garcia0384]

I hear Paula is starring for a website called, "JOMG.'

Jizz on my Glasses....LOL

[yjfoo81]

Buying US bonds? She's gonna be broke pretty soon!!

[BayFlow408]

I always have to laugh out loud EVERYTIME Peter responds to the other experts that explain their points of view. When she says to invest your porfolio in the longterm with diversity, he comes back with

"the longterm for the U.S. economy is very bleak. there is a zero chance that what the President is doing is gonna work. There is a 100% chance the economy is gonna be worse."

He just seems to be able to tear anyone a new economic asshole. hahaha

[myyootube]

I would bust a double horizontal on that ass!

[nolan067]

i would stick it in her ***

[DesTroYeRuS7]

+1 LOOOOOOOOOOOOOL

[soupy0007]

That woman has a whole Naughty Librarian thing going :O

[stevesprinceofsteaks]

Peter bitched slapped this dumb broad. She is same old school.

[woodro43yt]

"0% chance what the President is doing will work,

100% chance it will make things worse"

Best line of the year! Peter for Pres 2012

[rosewood223]

build your portfolio ???

fuck that lady.

[kayaker712]

Paula Kennedy was there for entertainment value as comic relief.

[Esoteric604]

Who the hell is Paula Kennedy? She sounds like she just got out of some community college with an associate's degree in "business" or some other crap like that. "Diversify". Well gee thanks lady. I know now not to put all my money into 1 stock or fund. That's some advice!

[EugeneGratz]

Obama lied - and the economy died.

[freeyourmined]

Either the politicians and the majority of economists are dumb as dog doo or they are part of a big conspiracy to rob from the masses. My opinion is they can't be that dumb to keep making the same mistakes.

[maartinjsh86]

its gonna go up in dollar terms. that i can promise you. welcome hyperinflation.

[alfawasp]

These are the two dumbest yid's WTF

[alfawasp]

Get your money out of the banks now.

[freeyourmined]

Why bother, the Fed can print it out of thin air. That may have been a smart move during the depression when there was a gold standard but not now. If you are planning to use that money to buy commodities, precious metals or some foreign shares then it is a good idea.

[alfawasp]

I totally agree with you FYM it's the only solid win along with scotch and wiskey NO Joke

[hungvan]

I wouldn't blame on her, it's the way she was taught, just like the rest of us. The media try to spin a positive way even we're heading for the cliff.

I saw Jim Cramer on CNBC said the stocks are cheap now, get in, get in. While he knows it's gonna dropped like a stone.

Retail shops, many will be closed out this year. Citigroup, BAC are used to be U.S. biggest banks. Now your local banks are worthly a whole lot more than them right now.

Gold and Swiss dollar to preserve your well.

[koki4o]

you mean Swiss frank

[imaginator]

why do they always ask these financial advisors to tell us "its gonna go up, invest long term". These guys have been saying it since 2006! ITS ALREADY 2009 and the market has wiped out more than a decade of profit!

[flahr1]

is she is your financial planner....RUN

[JesseKantstopolis]

Holy god that lady was stupid.

[copernicus633]

memnasia-

Peter has been far more prescient than any other commentator I've seen. That's because he understands the fundamental macro-forces at work, whereas most just follow the daily market noise. The sheer magnitude of our debt and additional deficits guarantee ruinous inflation in the future. While we remain in the contractive phase of the recession, this will be suppressed. But it will be impossible to return to strong economic activity without inflation.

[nemnaisa]

STFU Peter Schiff. You are wrong and you don't even know it. People who invested with PS are down at least 50%. Nice way to protect one's wealth.

[nevous8]

stfu you're useless.

[shakaama]

please back up your 50% down claims with facts or STFU.

also PS doesn't manage people's funds, he's a broker. again your ignorance preceeds you. lastly shift is telling these OLD people to get out of a volatile market, while the financial planner is saying invest more. these OLD people are going to retire, die and leave their assets to their heirs, gold is perfect for that. and overseas stocks he talking about are dividend generating stocks.

[smasila]

Gold is down 10% off its highs while the DOW is 55% off its high. Gold is pwning the DOW like no tomorrow.

[hungvan]

The Dow will eventually equal to an ounce of GOLD - 2000.

[ArtisanTony]

LOL the man is right and the woman is trying to keep the market from drying up so she is saying the same thing they said 5 years ago.

[sonofaglitch2]

Couldn't have said it better myself!

[elboertjie]

Peter looks really good in this video. He must be training a lot, not only to stay healthy, but perhaps also to prepare for the worst case scenario.

[dan020350]

very good - guiding the old folks more intelligence by going beyond the limit ( thats is american stocks)

[smasila]

The lady in the glasses seems very unsure of what's she talking about. Just like the rest of the financial sector...except for Schiff of course.

[muffman11111]

the news lady is saying shit i need a different financial planner

[spyletu]

cnn anchorwoman is doing a good job of "just stfu n listen" for once. excuse the language.

[MooseOfReason]

i'm in ur newsroomz, managing ur money!

[70road]

When you work for a company that does not pay a living wage, who gives a dam about a 401K, starvation overides investing. No one ever mentions the shit wages payed in the US for decades, compared to the cost of living.

[EMPIRE0FLIES]

Bilderberg Bankers are sucking the world down with us. This is planned destruction of all currencies. I see no end in sight. A world bank with one currency. Only way to unplug from the grid is gold and guns. They know this and they will try to take both. Sorry for the doom folks.

[nticaric]

Peter Schiff is right 2009

[jehnubis]

Peter Schiff was always right!

Even before he came out of his goddamn mothers womb!!!!

[goodinohio]

He smacked the doctor and said BUY GOLD!

[BitorKing]

Haha nice one!

[rooper666hell]

The inflation that Peter talks about is on its way. Its still a ways in the distance, but its on the way. Believe me, Treasury yields will begin to rise at some point.

[sergey444]

yea... build up a long term portfolio when ur all set to retire, because stocks go up in the long run, no matter how long u wait, its even ok if u have to wait till ur 90 just to break even

[HookhamC]

First thing we need to do is take the title off fools like Paula, she just spreads the propaganda that she has had banged into her head. I am up this year and nobody wants to know what I invest in, haha, but the fools get heard?

[Arthirias]

I think she is a certified financial fool.

[MooseOfReason]

Certified Pre-Owned Tool is my guess. ;)

[odin422]

HAHAHA the ANCHOR WILL BE BROKE SOON!

[EasyWolf31]

What made me laugh today at Geithner's hearing, was hearing that Americans are obliged to invest in 401k's lol, and that a portion of that goes into the markets AHAHAHA, what a ponzi scheme that is, thats BULL crap baloney!!!

That doesnt make sense at all. No wonder you get mega bubbles, on top of that, you had ETF's sprining up left and right, probably with pensioner's money, heck they grew so fast as to contend with the mutual fund industry, when those sell look out below, keeo inventing

[EasyWolf31]

these bastard bankers keep inventing financial products like its las vegas creating new slot machines and games to steal your money, the stock market needs a healthy long ass correction with no pension fund assistance, pe/s to drop at 5, and a 5 year correction or until bozos like cramer and kudlows go away and the public barfs whenever they hear the word stock, that's when ill invest, thats how it used to be. Party;s over. For now.

[Boomer1949]

I watched that hearing too. It's not about the employee being obliged to invest in a 401K, it's about companies offering a 401K, if they don't already. It will be up to you to participate or not.

[EasyWolf31]

Was it M.Johnson of North Dakota or Kentucky who was annoyed that people were being obliged to invest in the stcok market in 401'ks?

What exactly was he saying?

[Boomer1949]

It was Mr. Johnson of Texas, a republican. And again, it's not a mandate on the employee, it appears Mr. Johnson believed and the Sec. didn't dispute, a mandate for an employer to set up a 40K or automatic savings accounts for their employees. The Sec referred to the measure as an "opportunity" for the employee to save for retirement through their employer.

[EasyWolf31]

Well, he's one of the only republicans with his head screwed on right, for some reason 80% of republicans are washed in oil, half are retarded, 30% of dems are retarded as well.

[Boomer1949]

It's a give away to Wall St again. I don't like the idea and doubt that any funds manager would be interested in setting up a 401K for a small business of 4 or 5 employees. The fees would kill any profit one would make.

[pismo10]

100% of dems are retarded and 50+% of repubs, the liberal ones like GW.

[malickfan]

Schiff 2010. DODD is DONE.

[philzuco]

In the long-run... bla bla bla..

There is no long-run, fuckface. Look at Japan. 85% off their highs and still making new lows.

America has peaked. Done. This shit is going DOWN IN THE LONG-TERM.

[jehnubis]

LMAO! Diversify your portfoilio!!

[sinitskyd]

Everyone, please diversify your portfolio. In addition to gold, purchase silver, platinum and precious metals mining stocks. Also, agriculture is good, especially stocking up your garage with non-perishable foods. And guns... well, I am not violent.

[jehnubis]

Sorry friend, you fail. International bankers got you investors by the balls. They create the panics. Guns will be worthless, when a martial law is declared. Storing food? Bad idea...if you are found storing huge amounts of food, you can be jailed for "hording food from the public."

The only way to win is to out FOX, the FOX

[EasyWolf31]

Eveyone has a protfolio LOL

[tomrdee]

A lot of people need a portfolio because the sinking dollor has driven people to the market. It was how you protect your net worth. Now the market is no good. The gov. should be protecting the dollor not the market.

[EasyWolf31]

Ill buy when these bastard analysts shove their etf's in their ases and average P/E on SP/500 reaches 5-6

[stealthpakfa]

the interntional bankers have planned this collapse!

[toshzpelta]

God damn that lady with the nerd-glasses got owned.

[Martinx09]

Well, I would suggest the same, not to invest in the US. We do have a global economy, but the world can survive without us. Many nations are already withdrawing their financial investments, savings, and dropping the Dollar, such as Kuwait. They have the resources, and can maximize their local economies.

[jahan07]

Peter Schiff should be invited with more analytical speakers. The lady Paula Kennedy looks like a typical financial advisor, diversify and there may be growth in some sectors. Peter is more a target investor and one can choose to agree or disagree with him. However I agree with him that in future producing countries will have the upper hand, not the consumers and swindlers.

[lonewolf1369]

such ludicrousness! The stock market is inherently a PONZI SCHEME! Share prices and index prices can't GO UP INFINITELY. There HAS to be a drop, otherwise it's unsustainable, nothing but a ponzi scheme

[pirucreek]

The secret is out the dollar is used to screw bondholders and cash holders. I think the lady should invest in diidendgrowthinvestor 100% stocks with all stocks having 4% plus yield.

[magariqartveli]

Schiff is wrong that overseas investments are gonna make you rich or preserve wealth. If the US economy goes down, the whole world goes with it. Also, the US will not allow for a foreign market to become more lucrative than the domestic one, if that is about to happen, America will do something to undermine them. period. If the US economic ship is sinking (and I think it is) we either sink with it, or jump overboard and drown in high seas, we can't be saved. A new dark age is coming, enjoy it.

[chiyerano]

What you're saying is true for the short run, magariqartveli, not for the long run. The U.S. doesn't really make anything which is why we can't compare this country to other more efficient and productive countries like Japan. They have enough savings to weather the storm, we don't.

[vinny1010]

Seems to me that Peter Schiff is different now compared to his prior interviews...more of a "softy" in this one it seems....

[dudebud007]

cause he's probably realizing that international markets arent gonna recover as fast as he's hoping

[caelarent]

He does seem a bit gun-shy, but he's still on message. He admits he got burned with the rally in the dollar, but he's not alone. No one saw that coming because it makes absolutely no sense. All this gov't borrowing with no capital savings to back it up spells doom for the dollar, but they're still out there buying treasuries. It's a mad world.

[justgetsome]

MORE TIME FOR PETER!!!!

[julianscottsounds]

Schiff got a few things majorly wrong....strength in the U.S. dollar and the decoupling. The BRICS stock markets fell more than the U.S. stock market which was predictable because these foreign production based economies are more cyclical in nature. He can default to "my predictions are for the long term" excuse now. This is standard broker "talk". Preservation of capital is the name of the game and here he has failed in a big way. great talker though!

[DrPhucker]

I can understand Peter Schiff's pessimism in the US economy but he touts it like we're headed for depression. Surely we aren't headed there are we? Is he too pessimistic or is there genuine cause for alarm? If so, this Administration certainly is not the answer.

[magariqartveli]

DrPhucker, what you have perceived as the US economy, has been fake since abour 1998. After en-masse transfer of production jobs overseas and thus destroying the consumer market here, the planners have tried to create a consumer market based on debt, and securitized debt. That system has crashed. There is no new consumer market to be had, and at the same time there are no ways of further cutting production (that card has been played). No new means of cheap energy either. Time for WWIII.

[magichandpuppet]

This lady is quoting everything out of the financial terrorist sales guide. I just buy precious medals and I am not complaining with a consistent 20% per year. Stocks, mutual funds, and bonds are a sucker's game. If I had to be in pretend investments, it would be in commodity futures or foreign agricultural stocks. But, I prefer the real thing.

[skyding8962]

That lady is a moron.

[mrzack888]

Did Peter get a nose job and a tan??

[mrnat805]

LOL! I think so, and maybe even waxed his eyebrows.

[JoeyPencils]

definetly a tan...he is in LA for the interview

[mreisma]

i think the real question that needs to be answered is if that woman with the glasses has profited from her own advice...doubtful.

[wackassegyption]

Good vague question thats never asked.

[tdot22]

The woman is a walking cliche, "diversified, long tem, blah, blah" I doubt she understands fundamentals of economics, and is perhaps devoid of any knowledge of monetary policy.

[dogatron]

yeah, I'd pay more attention to my horoscope than to her vague predictions.

[scottvanska]

Yeah, I laughed when she said "get a grip on your emotions"

[electroplate]

That's for sure. People who take her advice of a "diversified" portfolio will be bankrupt.

[stshell]

water, food, silver, gold, ammo that is my diversified portfolio right there.

[markymarkuss777]

Indeed! lol and I agree!

[wackassegyption]

Good old standbys...

[Rustyshackleford08]

I am trying to get there, the stupid government wants more tax money from me.

[qminusis]

Hi, please don't put your web address into the heads of those people. It's disturbing to watch the videos.