QTR is quoting Peter Schiff regarding Comex deliveries & restocking trend.
jmski52
Posts: 23,046 ✭✭✭✭✭
"Is someone attacking the Comex? January Sees $5.2B in Gold Deliveries"
link fixed
https://quoththeraven.substack.com/p/is-someone-attacking-the-comex-january
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Comments
schiff was one was of the few people who called the 2008 crash. I profited from from his forecast. I continue to listen to what he says. He knows the gold market as good as most, and better than anyone here.
Of course, to the know it all's here, he is just another newsletter peddler. They don't understand that good information is not free.
Freedom is like inflation: you lose 2-3% every year. Slow enough that you don't even notice.
Why do you think he's just another newsletter peddler?
I share what I know. I link to others that know much more.
Freedom is like inflation: you lose 2-3% every year. Slow enough that you don't even notice.
Oh yeah, Shiff......personally glad I didn't put the ole eggs in his basket. Amother of the for-profit doomsday peddlers. RGDS!
I've followd Schiff -- and his father -- for decades. They're 2 peas in a pod. Well, they WERE...Irwin, R.I.P. No more taxes.
He's a smart guy....some interesting ideas....love his love of the Austrian School....but his track record is TERRIBLE.
He's gotten major moves wrong....has consistently underestimated U.S. financial assets and the dollar....had HORRIBLE investment performance....the proverbial stopped clock. He bets against America -- and that's been a LOSING proposition even if you nailed the 2008 GFC
P.S. Your hero owned a bank.
Lots of people called the Crash and the real estate problems.
You also needed to GET BACK IN to equities and spread product in bonds to make it a success. Did Schiff load up on stocks or bonds in late-2008 or early-2009 ? I'm pretty sure he didn't but I wasn't tracking him that closely.
Schiff isn't wrong about gold, or the debt.
The time to get into equities is after the fake money-printing stops and the fundamental problems of debt, unfunded liabilities and profligate spending are reconciled honestly. It could be a while. Maybe DOGE will get around to auditing the Treasury and the Fed, but I wouldn't bet the farm on it.
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Everything you post just becomes more and more suspect.
You write that "Lots of people called the Crash [of 2008] and the real estate problems".
But just about six months ago (05 August 2024 in the thread "Liquidity Crisis") you wrote that nobody did:
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His track record is horrible. I like the guy....he has some interesting things to say....but he would be FIRED by any fidicuary for lousy performance. He's been wrong on gold, the dollar, interest rates, and inflation 90% of the time since the GFC.
No, the market is a discounting mechanism so the time to get into stocks would be BEFORE they are reconciled.
The time to buy stocks is when they are going up as they have been for years. Schiff has a bad track record.
It's not rocket science to "buy stocks" when the Fed is continually pumping the bond market. That time is over.
There is never a bad time to buy stocks if you have a long-term view. Stocks have outperformed everything* over time and that is not debatable.
edited: *bitcoin has outperformed the market.