12/22/2008 Part 2/3 Peter Schiff: Where To Put Your Money

[kaaseejs]

all liars apart from Peter Schiff. I dont really belive they are actually doing this with their money :)

[Lingerfoot]

Ron Paul and/or Jesse Ventura - 2012

[aktlc123]

they always put a elite puupet againts schiff

[PeaceIsRad]

My cash in a savings account.

Now what? If I want to transfer it to something else...to what? Something easy and simple. Any suggestions greatly appreciated!!! Thank you!!!!

[kaaseejs]

transfer to silver

[robertlaf]

Get Michael Maloney's Guide to Investing in Gold and Silver, wait for the precious metals bubble, then sell and transfer to Peter Schiff, commodities, silver mines etc. Go to Peter Schiff's website and look at his friends' list. Read everything you can there, diversify with guys like Schiff, not the central banking stooges.

You can make a lot of money, but do your due diligence.

[PeaceIsRad]

why is everyone talking silver? When do you think is a good time to get invested? Thanks!

[kaaseejs]

Because it is undervalued at the moment. Historically gold : silver ratio should be about 1:15 Now it is about 1:80 and difference between gold and silver is that silver is industrial precious metal. It is used in computers, cell phones etc. Today there is more physical gold for investors to buy than there is silver. IF i am right it should go much higher compared to dollar. Anyway do your own research before investing. And dont listen to politicians - they are always wrong :)

[davincij15]

Physical gold if you have a large amount. But physical silver will make you rich.

[CycleSpreads]

hold onto your cash for a while longer. the lows for silver and gold are not here yet. Maybe silver at $8?

[JurkoffJay]

I think you sould get in now. It may not be around when it gets to $8 in a couple of months.

[ggadguy]

If you want more Peter Schiff articles, news, new videos and his podcast people should check out Peter-Schiff . com.

[noonsplace]

Thanks guy...i love listening to Peter Schiff...he's the real deal!

[Juvebeck10]

It's quite simple. Americans need to save more. You cannot have a debt economy in the long run, and that's what these clowns on television either don't understand or try to hide from the public so their ponzi scheme can continue.

[drhamma]

Why would any American put money in a savings account when the dollar is going to depreciate severely?

[mrcool011]

Because the media and US government told me to? Forget all the facts and evidence of the dollar's demise and inflation coming, I only listen to propaganda! Any real economist will tell you, the dollar is dead, were in for massive inflation, and trillions in defaults in the next few years. But the media and government won't tell you this. We've thrown out all logic and reason for a pseudo-economics of the federal reserve. Were going to pay the price for our stupidity.

[experimentsingeekdom]

They are all "Madoff"...

[wrfergus]

Gabelli is living in the past...what happened in 1989 stays in 1989. The Fed has created the biggest debtor in history, and it's us. Schiff is so obviously right, not because he's a genius, but simply because he understands economics. CNBC has a vested interest in keeping you, the investor, in the

U.S. market. Don't buy into their BS.

[czubspenx]

Quit interrupting each other. I hate it! Everytime I hear this kind of banter, I sign off.

[sampsonoff]

i hope peter is wrong for our sake. but based on his record i fear hes dead right

[vociti]

I know what you mean. You want him to be wrong but the facts and figures don't lie.

[TheNRA4ever]

Check out Peter Schiff's record...the man knows what he is talking about and always makes the others on the panel look like amateurs. Gold is the way to go!!!

[cobratip]

money supply is booming? how is that a good thing? if there is more money, each unit is worth less.

[justgetsome]

You aren't the only one. I'm so sick of these cheerleaders. You are correct, none of them have ever been right about anything. If I had of listened to Ben Stein last year when he was saying buy the financial they are cheap I'd be pennyless now. He was saying to buy Merryl at $75/share. What are the other financials? between $4-10.. and 80-90% of their so called 'value'...please!! Enough of these clowns and tools trying to call the bottom. The bottom is years away.

[justgetsome]

the love youtube, i can skip through the idiots and just watch Peter.

[brneyedgurl08]

LOL! I found myself doing the same thing. I seriously don't know how Peter keeps putting up with idiots like these who have been wrong, wrong, wrong while he's been nothing but right. Where do they get the cajonies to demean, laugh at, and continually interrupt him like he's their personal court jester? Think I'll write CNBC a little note letting them know it's Peter and only Peter I want to hear.

[Stepper11]

The government is not "damaging" the economy. They are deliberately destroying it. This was planned. Those who pay attention have sees the tunnels being dug to undermine the economy for decades. The only ones who weren't surprised by bailoutpaloozah were the "consipiracy theorists."

[kcmall]

Asia is going on without America. They're still building cities, slapping up skyscrapers like crazy. That's not going to stop. 1 Trillion of stupid US dollars held by China won't kill their game. Billionaires like Jim Rogers know it, having his children grow up in Singapore now. Asia has enough middle class consuming citizens now to support themselves. They don't need America. Until America becomes a producing country again, it will continue spiralling downward.

[adventureahead]

REALLY?! Do the research; In China there is 25% unemployment, more than 10,000 factories closed in 2008, China owes 2 TRILLION in back debt to other countries; they are NOT the world's landlords... I do agree though, that we need to have a production base

[40ounces2freedom]

Maybe you should do the research. While China may owe $2 trillion in debt, we owe the Chinese just as much as they continue to loan us hundreds of billions to fund our wars in Iraq and Afghanistan. The US debt is over $10 trillion. Another reason why China's debt is insignificant, is also the fact China holds the world's largest reserves topping over $3 trillion, in which the could pay off their debt immediately.

[kickittome70]

China does not owe anyone $2 trillion - and your US figure is about 2 trillion short and the Chinese foreign reserves are $1.7 trillion - China's largest debtor is Saudi Arabia and right now they owe them the paltry some of $56 Billion US

Factoid : India has half of the worlds gold - 13,500 tons to be precise

[experimentsingeekdom]

And its all privately held...the Indian Govt. owns a paltry 300 tons (approx.). If there is a currency crisis all over the world, Indians are gonna be the richest of 'em all. Contrast this to the US where the average Joe probably hasn't even heard about Gold. This is the downside of being a 200 year old culture as compared to a 5000 year old civilization.

[edwinhermet1717]

Peter is so right about the u.s., but he does not recognize that the u.s. is exporting its problems to the world with a weak currency and so on, and this will hurt the rest of the world as least as hard as the u.s. itself. You won't earn money with foreign stocks neither.

[giller09]

this host is good, everyone can express their opinion

[SouthFacedWindows]

Unlike other jackasses in FOX network who usually downplay Peter. I hate those people.

[Epic878787]

Mario Gabeli doesn't understand economics(or is a shill). That's why he is superstitious about the Swiss, etc. Look for signs... lol. How about, understand the fundamentals of economics?

[Epic878787]

The problem is excessive debt and inflation.

[Epic878787]

And the government is trying to solve it with more debt and inflation, lol, the opposite of a solution.

[Rizky06]

Property & School Taxes are supposed to go up as much as 30%..Why would anyone buy a new home now..Owning one is a Liability unless we have Massive across the board Federal, State & Local spending cuts!!

[ds4081]

They will have a hard time collecting that 30% increase.

[ipe9578251]

These 2 guys are just examples of the thousand Wallstreet Madoff's MINI-MEs.

[TheFlex21]

this guy with the white hair spews so much bullshit, he has the makings of a president

[shiftstart]

How sad for WallStreet looking for a quick fix. Like bunch of junkies.

[atheistnarnia]

I'm a college grad(Graduated Dec. '08) living in my parents basement(Good major, good GPA, still unemployed) and I prey to god Peter is way off.

But alas I think he will be right yet again...

[njcarlos1]

My GF graduated in May... good major (psychology), good GPA, still unemployed. I'm the same, but thankfully I'm a freelance programmer.

[Demian164]

nobody gives a fuck.

[TheFlex21]

psychology isn't a good major to find employment, even when the economy was booming

[njcarlos1]

Psychology is a great field, esp if you get a Master's and start your own practice. Clinical psychology is also a very good field... if you check out the few areas of growing employment at this point, one of them is medical.

[70road]

Shrinks are such quacks, everything they say is nothing more than common sense.

[odin422]

FOOTBALL!!??!?!?! OMG..........

[justingaylor]

Dude, this host is the best I've seen (in the US). He at least acknowledges the wisdom of Peter's points.

I like how Peter Schiff plays the game. He looks at the big picture and makes his decision. Everyone else is thinking in their own world and no one can see beyond their own noses. Good luck to them when Peter's predictions come true.

[TheRedPriestofVenice]

1974 was nothing like the present. I was there and I remember that time well. This man discredits himself by making that comparison --I guess it slipped his mind that we are in a crisis now that just spurred an unprecidented level of socialistic style government intervention. Add that to the fact that we were a much more productive economy then, and held MUCH less debt.

He predicts that the economy will improve but makes no logical argument as to why. Logic is on Peter Schiff's side.

[InTheSticks1881]

Denial is understandable. Denial + Foolishness = Stupidity.

[SolitonPL]

Kudlow is such a media slut!

[Tasadaru]

Lindsay Williams said that oil would drop to $50 per barrel when oil was $140. He now argues that America only has 6 months to a year before the dollar tanks. 2009 is going to be much worse. Get your silver, food, and guns. It's going to get rough. Gold is good but for a brief period of time silver could surpass gold in price. Google Mike Maloney for that one.

[markbizzaro]

Go buy junk steel from China or some poison stuff they pump out for cheap labor see how fast you will be returning the garbage.

[gritzngravee]

Who in their right mind would promote investing in anything made in the US???!!!!! Hell our own politicians are getting money from foreign car manufacturers. Times change, if they were doing that 50-40 years ago they would be labeled communists!!!!! Now they're labeled global economists/investors.

[faramir44]

Schiff is promoting non-US investments because that's HIS business.

They will suffer too, but will recover a lot sooner than the USA. (understatement!)

[devilmirror]

Peter believes strongly in foreign stocks because they are our biggest creditors. The US is the biggest debtor of the world. With all this stimulus plans, we are heading to the cliff. Peter uses this fact to plan investment plan for his clients. He is kind enough to share his knowledge to regular audience. We should thank him for different opinion on national TV. Time will tell whether he is right.

[MooseOfReason]

Peter's promoting investments outside the US because our economy is heading over a cliff.

Sure, he might benefit, but are you suggesting he not tell the truth than suggest stocks outside the United States?

[Magik0010]

Good discussion today.

[rosewood223]

1st