11/21/2008 Part 3/3 Peter Schiff: Markets Reacting To Nomination Of Tim Geithner?

[roseagain2]

Those other guys are asleep at the wheel!

[CumFilledTesticles]

That lady is HOT HOT HOT HOT!!! Good job, giving really depressing (but truthful) economic news with a HOTTIE onboard at least helps.

[atm2462]

Jeez.. go find some porn and fix that problem before you go post.

[colacocala]

im an undergraduate in finance right now.

im thinking of dropping off, wait untiul the market stabalize, read books while im taking a break you know, and getting back to my studies once the economy stabilize and sets new policies.

should i drop off this year> should i drop off at all? what should i do guys, i mean my field of studdy is pretty much disturbing righ tnow

[xavster]

move to china and make $3000 USD a week as a financial advisor in shanghai

[colacocala]

wwooooohh wtf are you talking about

where how should i speak chinese, whats required,

you cant just throw that to me LOL

[hyylo]

That guy from Barclays capital is not saying much because he knows peter shiff is right.

[Jacobrester]

If you took Peter Schiffs advice back in June you would be down a considerable amount of money right now.

[shroomingnewman]

the entire market is down. besides, schiff is a longterm invester, not a shortterm speculator.

[Jacobrester]

I neither hate or like Mr. Schiff, I am just calling it as I see it. He was wrong, and he has pushed his predictions back further in an attempt to be correct.

Maybe he will end up being correct.

We will see.

[cooll6]

well remember in economics a prediction can not pin point a time when a market will rise or fall. Like Schff has said before, the economy will crash depending on how the government intervenes, it could happen tomorrow or next year, but the bottom line is the system is flawed and the ship is sinking.

[threatlevelorange]

A long term investment strategist would tell you to keep your day job.

[threatlevelorange]

These two guys are sooo out of their league haha. Schiff looks like he is pulling his punches big time.

[cooll6]

Only because the price of american assets are falling. There for foreigners are buying up america. In order to do so you need american dollars, that is why the dollar is artificially high, it will all come down soon, just watch.

[ImyManz99]

That's besides the point. You would be down according to the USD, and the USD is not what you want to have long term.

[Jacobrester]

If you had listened to Mr. Schiff you would be down regardless of what currency you were in.

[emosdieslow]

"the entire market is down. besides, schiff is a longterm invester, not a shortterm speculator. "

[Jacobrester]

Lets call a spade a spade. He was wrong.

I am neither a fan or a hater of Mr. Schiff. However, some people have a problem admitting that the guy was wrong. He admits it, but his Youtube following seems to have a tough time coping with it.

[emosdieslow]

Did he not predict the cras in the economy?

[Jacobrester]

What do you consider a crash?

If you mean the stock market falling about 40% last year, then yes he did. And so did about 300 other economists.

He is a smart man, there is no doubt about it. He is also human, and has made some wrong predictions. Although he did say he thought his predictions would still happen, only at a later time.

[emosdieslow]

He also admitted that not everything he wrote in his book happened exactly the way he predicted. However, he has been astonishingly on point with his major predictions. Ask those other economists on the interview if they foresaw any of this.

[Jacobrester]

He has made most of the clowns on television look like idiots. However, I have been investing for over 20 years, and I subscribe to some of the top Financial Newsletters in the country. Some of them very good, and some of them not so good.

The good ones have been calling for this exact scenario for atleast 2 years.

[emosdieslow]

I would be interested to know the names of the good ones. I basically just started investing a couple of years ago.

[Jacobrester]

The Safe Money Report....Martin Weiss...conservative...but solid analysis

Peter Schiff....I believe he is good...I am currently incrreasing my holdings in Oil stocks

The Kiplinger Letter.....solid advice

And I like to look at Mish Shedlock's personal blog....it is free...and he is very accurate in his analysis...just type "Mish" into google search

These are the most accurate I get.....I have some others, but they are riskier

[therealcaptobvious]

If you've been investing for 20 years, according to your profile that means you've been investing since you were 5. Most 5 year olds couldn't even spell DOW. :o)

I know many have been calling out this scenario, but they didn't get the publicity in the mainstream. Most people who get economics, that I've met were calling out a bubble burst 8 years ago. These were graduates from reputable business colleges, not acclaimed economists.

[Jacobrester]

Well....if you haven't heard of them....that probably means they dont exist.

[therealcaptobvious]

oh they do. I've sorted out through MANY "economists" and "experts" that I didn't like because they were flat out denying the existance of any bubble to salvage the value of their "investments" aka real estate. There are so many people with no education who act experts but they couldn't explain a price equilibrium to save their hind ends, but spoke with the same incentive-to keep their property values up. It was like a mafia. Even college professors did it. I thought the world went mad.

[Jacobrester]

You were talking with my Uncle...he was showing me some Elvis Presley videos ....he might be able to understand what you just said...LOL....the only investing I have done is basically through my DRIP Plan and 401k

[PMorphy65]

Good Job Peter. I think those other two are just hoping things get better.

[ImyManz99]

Irwin Schiff should've unloaded a clip before those IRS stooges laid foot on his doorstep. Fuckin' crooks.

[cooll6]

who is Irwin Schiff?

[ImyManz99]

Irwin is Peter's pops. The scumbags made an example out of him by locking him up for failing to pay the unconstitutional income tax.

[BlackNapkins86]

Yeah, I like Betty too. :)

[thepassionateteacher]

Wasn't the gigantic USSR too big to fail? The Roman Empire too big to fail? That land where the sun never sets (Spain) too big to fail?People! Remember your history!

[hara001]

thing that are too big to fail just fail harder

[akaheadfonez]

Wow...that was put perfectly. I wish I could have thought of that to tell people when they said it won't happen here. Nice.

[aliii123]

peter schiff got the last word

[Paetaor]

It's funny. You can hear Peter kinda humming.

[switkows]

I like Betty :)

[MooseOfReason]

Actually, 6,000 looks realistic. Especially since it dropped below 8,000.

Peter Schiff 2012!

[sshepard94]

The thing I notice when Schiff is on is that he has an economic basis, theories and reasons why he believes the things he says. Usually, the opposition don't. They just can't believe that our time at the top might have finally run out or that the markets won't rocket right back up like the always have.

[kurt44mg42]

Schiff is right! What he is saying about the US is equally applicable to the UK. The UK Treasury has announced it will borrow £512 billion over the next 7 years. The National Debt will then balloon to over £3 trillion if one includes unfunded liabilities. Add that to private and corporate debt, then it approaches £7 trillion! Eventually, the plug will be pulled, and then it will be hello Weimar Republic!

[daniel987878]

Just not cricket.

[aenfroy87]

*fav line...as we are taking our credit cards to the mall and buying imported products, running up our trade deficit...the solution of course is to stop buying stuff...we have to start saving and digging our way out of this hole.

[monkeyman1140]

Peter Schiff always scares the crap out of me.

[Fighting89Back]

Peter Schiff's dad is in jail.

[colourbox101]

So what

[tseland]

Yeah, for refusing to pay taxes ;-)

[armadaink85]

not the rest of his life hes out in like 2015

[franciju0]

Schiff really seems to enjoy himself with the narrow-minded economic experts.

[shouldlistentoronpau]

What was the name of that one ship, you know the one that was SOOOO BIG everyone thought it was "to big to fail or sink"???

Oh Yeah, the TITANIC.

[EMPIRE0FLIES]

No one's to big to fail" Priceless!!!

[Paetaor]

I think there is something like $500,000,000,000,000 off the balance sheet of the 9-10 major US banks.

The only reason they wouldn't put it on their sheet is because it's actuall worth $0.

(Otherwise it would be an asset and that helps a bank.)

Citi tried to put $17b of their ~$100t and went bankrupt so how can there not be a total collapse?

Seeing the abandoned pets that people can't afford to feed on the TV left me stunned.

[plainjane6476]

Nice for a change not to hear people shouting over Peter.

[andrewebisu]

Yeah, they don't shout over him because they palpably fear him. "Nobody's too big too fail". Go Peter!

[lisajason111]

LOL @ peters emotion while he was laughing at citi too big to fail

[jdawgwelling]

Someone needs to say it.

[jimw81a]

Yes Peter does have an ego but when you're right you allowed to have one. Peter tells it like it is even if the news is tough to swallow.

[Okooka]

There's the Schiff's ego people keep mentioning.

Still a good guy.

[BlueEagle8]

Peter is having too much fun. I think he needs to go dark, so the banksters don't treat him like they do his father.

[donaldsonb]

What happened with his father

[BlueEagle8]

He's in jail for the rest of his life, because he fought the IRS and lost. Google Irwin Schiff. He's a true American patriot, but he has paid for it.

[globalmedium]

That Jack dude is a jack ass

[EdMan2012]

That old fart in the middle looks so pissed off! ha ha. Peter made him look like an incompetent ass! I loved when he rubbed it in their faces about how he predicted this mess 2 years ago, and then he tells the old fart "I don't know what you were forecasting [one to two years ago]." Peter totally speaks the truth. He doesn't paint a pretty picture, but this country got itself in this mess, and let a corrupt central bank dictate our economy.

[kapaka12]

Schiff overseeing a billion dollars.... hmmm... That's news :-)

[danbowski40]

I bet Peter can manage 1 Billion better then Paulson! That would be messages and pedicures for Wall Street!

[fuzzywzhe]

> I bet Peter can manage 1 Billion better then

> Paulson!

A monkey could manage 1 billion dollars better than Paulson.

[danbowski40]

LOL. you got that right!

[belloOo]

lol . "black and blue friday" lmaooo . peter schiff knows his stuff. and now so do i .

[Kloppy86]

He shoots down all those birds one after the other!

[Kblues80]

Peter schiff..."No ones to big to fail"

Peter got the last word....Loves IT!!

[veggiegurl06]

Like the Titanic was no too big to sink!

[libertyeconomics]

The Fed is printing money like crazy, which is creating a BUBBLE in the stock market.

[therealcaptobvious]

no, the priting is creating inflation. Not the same as a bubble. A bubble only happens when the price equilibrium is raised because demand goes up.

[godaddict]

Bubbles are the result of outgassing.....

something changing states from solid,liquid or gas to one of the other states. Printing monopoly money is like a narcotic addiction.

To get the desired results(effects), you need more and more ....or you can stop..experience withdrawal and start over. The complication of the simple....it completely underwhelms me.

[henriquevicente]

Be smart, it's not because things are cheaper that inflation isn't there. Dude, prices (interests) go down as a result of the creation of even more wealth! Wealth isn't a cake, it can be created or destroyed. Watch out before saying silly things like that.

[therealcaptobvious]

henriquevicente, wealth CAN be created. Value is given to the object by the people and is measured by demand vs supply. INNOVATION creates wealth. When Ben Franklin utilized electricity, wealth was created. When the Wright brothers invented the plane, wealth was created. When Ford invented the car, wealth was created. When the internet was invented, wealth was created. Satellites, modern medicine...all that creates wealth.

[henriquevicente]

Value isn't measured by the demand vs. supply. It's only a consequence of the sum of interactions of every individual who values or not one thing over another, not the cause. Value, by itself, is subjective. OF course if more people values one thing over another it'll make only the ones who values most (and have the power to purchase) possible to have it. But it isn't a thing based on demand vs. supply. If it were, everything would be marketable. Also, wealth isn't created by innovation ONLY.

[therealcaptobvious]

"Value isn't measured by the demand vs. supply. It's only a consequence of the sum of interactions of every individual who values or not one thing over another, not the cause."

That's demand. And there you go, wealth CAN be created. I rest my case.

[thomasw78]

None of those examples count as creation of wealth only the potential for wealth creation. When Ford invented the car the only wealth created was what he could sell that car for. What created the wealth was the assemby lines, factories, salesmen, and ultimate selling of thousands of cars. Can wealth be created? Absolutely it can... but not through a printing press. Furthur, when that wealth is created the effect is to lower prices which allows more people to have more.

[therealcaptobvious]

not always. Value is placed on an object by the people collectively, or society. Wealth creation is not synonomous with printing money. If the biotechs came out with cancer and AID's cures, value would be created. Economic growth. There would be more value to our society. Printing money devalues currency. Wealth creation makes the currency more valuable. I'm sending you a link.

[chunstiger]

If the Schiff really does hit the fan like Peter's predicting, how can the citizens of the USA be presented with video evidence and NOT elect someone like Ron Paul president in 2012? I can't imagine Obama being reelected if what Peter says comes true.

[robbty18]

Obama has no chance of getting re-elected. He is walking into the biggest economic shit storm the world has ever seen. No government policy can correct our economic mismanagement. They will try to correct only to make the situation much, much worse. A really shitty "Change" if you ask me. Ron Paul 2012!

[JackNeedles]

Dr. Paul for President and Peter Schiff for vice President in 2012.

[labartic]

America is going to be a poverty/police state by 2012. I bet my ass on that. Beginning of 09 will see a massive terror (false flag) event, and the collapse of the United States economy. Martial law, WW3. Buy plenty of food now, and plenty of ammo. Youre gonna need it.

[chunstiger]

I hear ya. I feel like I'm going nutso though. I have 400lbs of dog food stored already and just bought a chest freezer that's full already. I think I bought a couple hundred dollars worth of canned goods just this past weekend. I plan on buying more this weekend. All the stuff I'm buying I'll eventually use. I'd like to get another handgun and a couple thousand rounds of ammo in the next month or two. I think 99% of america has no idea what's in store for them. Error on the side of caution...

[labartic]

Check out my videos on survival preparedness. Skip the extra handgun. Make sure you have a good holster for your current pistol, you will probably need to wear it at some point in the future because things will be bad. Also, a rifle is a battle weapon, not a pistol. And there will probably be battles in the streets next year in some places. Get an ar15 or an ak47. Maybe an ar10 carbine, and plenty of ammo, a vest/spare mags. Check my videos and leave a comment.

[BMWizardofOz]

wow

I will watch it in TV when all the gun loving Americans will run around with their guns to either steal or protect food, as described here.

Maybe you guys should try to buy a bazooka and some mines, because otherwise some hungry smart guy with a tank might come and get right through your defense lines to your your food storage.

[labartic]

What point are you trying to make? Go fuck yourself.

[djsherin]

What?

[fuzzywzhe]

> If the Schiff really does hit the fan like

> Peter's predicting, how can the citizens of

> the USA be presented with video evidence and

> NOT elect someone like Ron Paul president

> in 2012? I can't imagine Obama being

> reelected if what Peter says comes true.

Simple - American voters are stupid.

Ask anybody that voted for either McCain or Obama, how those 2 voted on the Patriot Act, the 840B bailout, and the Military Commissions Act.

Do YOU know?

[markymarkuss777]

Peter Schiff speaks the TRUTH!