Peter Schiff 7/30/09 - CNBC Fast Money

[westy44cal]

I love how all these people arguing against him say look stocks are going up. And he always says the same thing. Valued in what..dollars? They seem to fail or IMO are ignoring what they know he's saying is that yea Mcdonalds may be at 90 bucks a share but relative to other currencies or PM's it's not as impressive in growth. I own MCD BTW as well as Coke for their foreign exposure but in general it seems that everyone is conveniently not wanting to hear what this guy is saying.

[ClBball]

what is that idiot talking about??? again peter owns another so called expert. thier own graphic at 1:24 clearly shows the dollar index at a high of around 90 in march and it going down to the at current 79.27. a 4 year old could see that. i mean really ... wtf

[Tsmith183]

It seems like every time Peter gets on TV you see crazy looks and scoffs and yet he keeps being right and hence they bringing him on his show.  Here's an investing idea: If Peter gets on TV and the other commentators scoff, follow Peter's advice. If they agree on stuff get out! lol

[informationauth]

anybody want to start working on

"Peter Schiff was right 3rd edition"

Any takers?

[Jaycephus01]

Yeah, this vid is going to make it into that future edition. :)

[imre1000]

Watch this video AGAIN and look at their expressions while he's talking. Priceless.

[svenp]

I generally like the fast money crew but true to their name they are severely myopic. It is completely unforgivable to them that Peter's investments failed during the crash, to them that invalidates him and his ideas.

The want the right play RIGHT NOW and could care less what may or may not happen 5 years from now. Peter is all big picture.

[tacitus7]

Maybe we should be a little gentler with these hosts. They might read our remarks and not want Peter back on. Nobody wants to be made a fool of.

[wtfbroskie]

i agree, lol

[MrColonel1313]

They need to share whatever crack/weed/meth they are using on the set! Can these people not even read the simple US Dollar index chart they flashed on the screen? This is amazing. Peter said the dollar has fallen from it's high at 90 in March and is at it's 2009 low. Then the three blind mice wanted to argue with him on this. Pause the video at 1:48 and you'll see what I mean about the chart. WOW!! CNBC pays these people who can't even read a chart!

[jodark]

I love he is just recieving blank stares from the talkers. They have no clue what he is talking about.

[strasheep]

these dingleberrys just dont seem to get it! (they dont SEEM to get it)

[gutrp]

so true,,, those three fake ass dumb TV hosts coudnt dare to comment...but u could tell on their faces..

fuckin retards...

[johny344]

Peter schooled them. Its like he knows everything, he always has a good answer to any question and he is always right. Peter Schiff for Senate 2010. Please donate to him, even if its only $1

[SilencerRPMs]

Very true.  At least $1 would help and anyone can give that.

[purplefetus3]

Wow, CNBC guys really sucks! Jon Stewart wasn't kidding. Everything Peter Schiff said was on point and they all give these demeaning smirks. Wow, DO NOT trust ANYTHING cnbc SAYS. These guys are crooks and feeding you the worst info.

Let it be known..."Truth is treason in the empire of lies."

[Ne0mega]

Listen to Peter talk. The rest of them talk about making money, and trends and numbers... he talks economics, politics and the system. And they all shoot chirpy childish smiles at each other like he is a raving old man. And the dollar just hit a fresh low about 1 week ago, he was right. Douchebag saying the dollar was triple bottoming was wrong.

[30percentplusreturns]

Erin Burnett has to be probably one of the most moronic persons on CNBC. She is a little kid that has no clue about anything. She hasnt lived through any real recession in her whole life. She was probably 5 years old during the 1970's inflation crisis and all she knows is paper money. Talk to older people about when you could trade in paper dollars for gold or silver at the bank. Burnett and the whole cnbc gang are a bunch of frauds. How can they live with themselves. They are slaves

[itubeutude]

they say he's been right but you still get a feel that they don't want to believe him this time.

[seanannapolis]

The part that Erin and so many others are missing is Schiff (and others like him) did not make calls about the stock market as much as they made calls about the economy, especially with regard to what is happening with our nation's money supply. Short-term, stocks can do a lot of things, but the overall picture is so much more important for investors (trading is another story all together). You can hear the contempt for Schiff in Erin's voice.

[truefictions]

Go Peter!

5 Stars man.

[Arginine88]

Peter is the man, and I commend FM for letting him rant a bit but he would eat up the whole show if they did not let him go! God bless him though. Peter Schiff for Senate!!!!!!!!

[MaverickCentricity]

It seems like they don't understand. Peter's been saying the same damn thing year after year while they sway with the wind.

[LeeKwangEng]

Do you know how to buy stock ahead of the Bankers?

Try to do the opposite of what the Media is talking about.

Let me explain.

When the market crashing, thats when the banker already pulled out they market share, so they already out, to further push the market down so they can enter later in a much lower price, they get the media to say "the nightmare" the economic crisis and prolong it as long as possible, then using ecnomic crushes as excuses to get money from YOU the tax payer to....

[LeeKwangEng]

... get ready to buy the cheap "sales" of the stock market.

when they finished filled up the "bottom" of the market, they will get the Mass Media to push for "Market Recovered!"

And encouraging invester to get excited and start to fill the top from the bottom.

So the market is being pushed up by the money printed out of thin air, and if you are to buy in now, though it is not a bad idea, but get ready to pulled out once your potfolio hits the target....

[LeeKwangEng]

...Pull out and stay out, the next time they "the banker" pulled out, it will be worst! but if you are long, follow Peter's advice! A sure win in long run!

[LeeKwangEng]

Same bullshit the mass media trying to pull!!! Shame on you!

I hate these people! They just want to live in their fantacy!

[shoeman3434]

Laugh now you CNBC goons. We'll see how funny things are in October/November when you see that Peter Schiff was right again.

[loosey5]

Schiff was so assured of his view it made them nervous. But China's stockmarket is in a bubble aswell. Result of stimulus money.

[stealthpakfa]

no its not, china is real growth. america is fake growth.

[loosey5]

It was, up until the recession kicked in. Which had as a result that China's exports started to collapse. So they injected 500 billion into banking system and they used it to speculate. Hence the ''recovey'' on the Chinese stockmarket.

[Tasadaru]

There is a vid of Jim Rogers saying that CNBC is a channel that will make you lose money. Those who still listen to CNBC's b.s. deserve to lose money. There probably is a rally in the DOW industrial avg. right now but it is destined to fall.

[Shaunt1]

I like how they just listen while he teaches them.

[loosey5]

They looked like a bunch of toddlers being educated by their teacher.

[SouthFacedWindows]

CNBC is a circus so. So please dont take them seriously.

[LenovoFightsPoverty]

The markets are rising, ok the Dow lesser than the Hang Seng.

But who bought Dow Jones stocks 3 months ago, and sells today has a REAL profit.

Warren Buffett is also saying there will be serious inflation, but with stocks you will have gains, and he's right, bearmarket or not.

I don't know who to believe, I don't believe that China will let the USA collapse.

Don't forget there are 4 Billion new consumers from the BRIC waiting to buy, with the lower $, American products are cheap.

[bogardan666]

Spot on.

You don't want to have fixed interest or cash during the next 10 years. Inflation is coming. America is home to some of the best companies that will do extremely well over the next decade. Just make sure you have exposure to companies that have sales outside the US, Coca-Cola and JNJ etc are superb. Even as the dollar weakens you will not lose any purchasing power. What ever happens it's best to think logically and not panic.

[Jaycephus01]

Lenovo, capital investment, which has been happening in China big time, and NOT in the US to the same extent, is what leads to production, which is what leads to the wealth of a nation. China has started decoupling, meaning local consumers are starting to pick up the slack of the US consumers. They will eventually not care enough about the US consumer to buy our bonds. As the dollar weakens, and inflation hits, it doesn't matter what valuation the US stocks have, they'll be worth less.

[LenovoFightsPoverty]

I start to understand that Peter sees the stocks probably going up, but inflation will be higher, soo to protect against inflation, he buys foreign stocks like the Hang Seng.

Because he doesn't trust the USA markets neither the $.

But it's still possible that the Dow will go higher and higher, but inflation will be more high.

Do we speak than of a inflationary Dow?

[Jaycephus01]

US COULD begin cap investment & be on its way to recovery, but that isn't what's happened so far. Instead of a REAL bankruptcy for GM & Chrysler, & then see a healthy auto industry re-emerge here in the US, we have a fake bankruptcy w/Union & Gov. ownership. We NEEDED lower wages & re-capitalization by private investement but got nationalized auto industry instead. Any bets on Ford getting reamed by their GOVT competitor? Already the Clunker prog excludes Fords by using a wt. limit.

[70road]

I love how people want everyone but themselves to work for lower wages. How about a real bankruptcy for AIG, Citi, Goldman, etc.

[AndyMH182]

LOL wtf??

Is this TV show called 'amateur hour'?  are those hosts for real? Is Peter Schiff on The Onion? OMG LOL This is terrible

[LenovoFightsPoverty]

Did you see the faces when Peter started to say it's still a bearmarket, they couldn't believe it, and started to look down.

[mcleodforrest]

I want to strangle them, they still smirk and grin like hes a lunatic, and he constantly has to correct them on their figures. I want to punch that one fucker dead in his smirk.

[JessicaBelle81]

These stupid Keynesians still laugh at the Austrian Economists even though they've called everything.

[frontier1701]

CNBS FAST-Clowns... Arguing about dollar index at 79 and climbing..... today is 8/3/09 and the index is 77.65 and dropping..... Looks like Schiff was right ---AGAIN... I think their "FM" logo stands for "F*CKIN MORONS".....

[prescottbill]

These people on CNBC are no different than the Detroit Lions Cheerleaders, they have to go rah, rah no matter what the scoreboard says.

I don't know if Zimbabwe has a stock market, but if it does I bet it has been the best performing market in the world. Just think of the "price" rises in Zimbabwe stocks. They could have had 1,000% up days! One hundred dollar stocks now selling for a trillion dollars. The only problem is a trillion isn't what it used to be in Zimbabwe.

Got Gold?

[jfcrow1]

Finally they are showing him some respect. But not enough.

[vway2]

jesus, these people are stupid