Peter Schiff 12/29/08 - CNBC [Part 2]

In this video Schiff predicts that the DOW will be worth 7-9 ounces a gold in 2009, and in the coming years will fall to 1 ounce of gold. Aside from giving his usual speech about getting into commodities, gold/silver and out of the dollar, he talks about what caused the Great Depression.

Andy Busch (BMO Capital Markets) agrees with Peter that the stimulus programs are going to be inflationary and bad for currencies. However, he says regulation is coming so lets make it work because we need it.

Vince Farrell (Soleil Securities CIO) says we don't have a choice and that the government has to increase debt and that they can't do nothing. Peter refutes by saying we don't need to substitute government debt for personal debt, we need to get rid of our debt. Vince and Peter then argue over how the Great Depression came about.

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• Schiff
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• housing
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• obama

[airborne373]

Listen to all these communist and national socialist argue with Peter Schiff.

[moybutter]

Its scary but I think Peter's right. Prepare for bread & soup lines by 2012.

[thomasmoonman]

alot of stupid ppl to convince of what hes saying...that would any of us go grey

[kyleman1313]

obamas stimulus package. his first dumb decision as president.

[idrobinhood]

Bet on gold stocks and dry bulk transportation (DSX)

[pguitarb]

wow, peter is a lot grayer than he was just a year ago (off topic comment)

[iridespinners]

go peter schiff

always the voice of truth :]

[Fronte999]

mallamoozoo

Lee Feedmill.... animal feed, Thai small cap with a 14% yield and a current ratio going into this of 3:1. who's going to stop eating pork and chicken? even the red and yellow shirts like moo and gai with their rice.

[mallamoozoo]

Does anyone have any suggestions for Australian investors - the aussie currency lost a massive 30% in October - does Schiff's advice re. buying Gold still apply for holder's of currencies already devalued?

[Justbeatit999]

Your welcome!

[tmac9938]

..what? did you pay attention?