10/21/09 Peter Schiff on CNBC Fast Money: Heading for a Dollar Crash
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I like watching people go in a frenzy when you compare it to gambling.
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@jimmyjoe1975 yeah, stock represents Equity and are defined by other wealth on a Balance Sheet and Income Statement. Watching these stock values shoot all over is just people shuffling money from point A to point B. Literally digging holes and refilling other holes. All in an effort to eek out gains by any means. No interest in the company's well-being, just "how can I gain"?...this is not the original idea. the original idea was to earn with the company's growth, now we can earn on a demise too
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Not sure where you sit on economic idealogy, but you are right that stocks are phony. Stocks are part of a ponzi scheme, in which you buy a share in hopes that someone else will buy it for more later. Like a Ponzi Scheme, the stock requires continual new money. If the average joe stays out and buys hard currency, stocks would have less status.
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The bewilderment of these guys is hilarious.
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one needs to ask, What benefits do a publicly traded market offer? What is or was their intended goal? It allows all to participate in the growth in earnings...
Really? Looks like a stack of elites manipulating the whole notion of "publicly traded" with no opportunity for the public to engage without a ripoff taking place.
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yeah! GO WVU!!!
Oh wait...that's not what he meant. LOL
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Schiff schools these guys every damm time and its just getting tiring now watching these dopes on cnbc be wrong every week. Not one of them predicted the crash except peter. Najarian has the nerve to tell peter that the stock market is doing better than gold??? gold is at a new high, up like 400% in the past 5 years, and stocks are 40% of their highs. What is this guy smoking?? I love how they take time frames that only suit their short term agendas. CNBC is done.
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The mass media economists early-to-mid-2008: "What do you mean we're going to have a market crash? What do mean we're going to have a recession? The economy is in great shape!"
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END THE FED
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Not only that, the imbeciles are being jingoistic about the dollar, as if pointing out the truth was akin to being blasphemous (!)
By the way, that woman is H-O-T!
CNBC is to economics...
what Mariah Carey, is to economics.
tickhound 2 years ago 9
The talking heads are actually scared now to dismiss this guy because they don't want to star in the next 'Peter Schiff was right" video.
By the way, the dollar has been crashing (on and off) for the last 90 years or so, with no end in sight.
healthhavencom 2 years ago 9