Thank you Peter Schiff
derryb
Posts: 36,993 ✭✭✭✭✭
I went all in on gold and silver when gold was at $600, thanks to Peter Schiff's book "Crash Proof." He was right then and ever since about the economy and it would be wise for those new to PMs to listen to what he says. There are now many "wise" gurus that the see the future now that it has been clearly illuminated, but I continue to put more trust in those that called it beforehand. They will hopefully be the ones brave enough to be first to call for a change in current scenery.
If I could just get on Peter's speed dial list for when it's time to sell.
If I could just get on Peter's speed dial list for when it's time to sell.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
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I have felt strongly about thier opinions on PM and it has worked out for me.
Miles
<< <i>I went all in on gold and silver when gold was at $600, thanks to Peter Schiff's book "Crash Proof." He was right then and ever since about the economy and it would be wise for those new to PMs to listen to what he says.
If I could just get on his speed dial list for when it's time to sell.
There should be time, MSM will say that he is crazy and laugh at him when he says sell.
<< <i>.
If I could just get on his speed dial list for when it's time to sell.
one thing is that one wouldn't really need his advice to sell, especially at your buy price
2. This in turn means lower disposable income for consumers. That in turn hits discretionary spending. And that, in turn, means companies don't need to hire people to provide discretionary goods and services. This is what Bernanke did with QE1. He in fact destroyed job creation, which is a big part of why we still have 10% unemployment! Bernanke CAUSED that unemployment by creating a price ramp in the commodity space!
3. This, in turn, means more demand for social programs. More unemployment. More Medicaid. More food stamps. More government spending of all sorts. But there is no tax revenue increase coming in to pay for these increased demands (it's all going to the commodity producers) so the government once again turns to the bond market and issues debt to fund this increased spending demand.
4. Left alone, the bond market will react to this "never]ending" deficit spending cycle by increasing rates in an attempt to cut it off. This in turn provokes The Fed into even more QE to "spur employment and increase asset prices."
(x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
mariner67, and Mikes coins
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Back to basics: Kudos to those that suggested we put our cash into PM's when Gold was at $300 and Silver at $4 an ounce!
Miles
<< <i>Good point DerryB!
Back to basics: Kudos to those that suggested we put our cash into PM's when Gold was at $300 and Silver at $4 an ounce!
Miles >>
Double kudos to those that listened! they have my admiration.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
<< <i>
<< <i>Good point DerryB!
Back to basics: Kudos to those that suggested we put our cash into PM's when Gold was at $300 and Silver at $4 an ounce!
Miles >>
Double kudos to those that listened! they have my admiration.
I concur with Schiff. You can catch his radio show on Schiffradio.com at 5 p.m. CDT, although he'll be in Europe starting tomorrow. But he has a sub on the rest of the week. But check out the show.
You have to be able to see and understand reality, simply to protect your finances.
I knew it would happen.
Today's guest is Robert Prechter, founder and president of Elliott Wave International, on why America's gravest current threat is deflation, which is covered in his new book Conquer The Crash. As always, Peter will take your calls on the politics of finance and the economy."
Why is Peter having this moron on his show?
derryb...great icon!
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and what Mr. Schiff said over a year ago
The one who calls when to sell is the important one.
<< <i>All the gold bugs have been right for the last 10 years.
The one who calls when to sell is the important one. >>
SELL
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
The one who calls when to sell is the important one. >>
SELL
derryb, now I'm really confused! Is that what you think Schiff is saying? Sell gold?
I knew it would happen.
<< <i><< All the gold bugs have been right for the last 10 years.
The one who calls when to sell is the important one. >>
SELL
derryb, now I'm really confused! Is that what you think Schiff is saying? Sell gold? >>
Forgot this:
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
<< <i>Is Peter Schiff's radio show any good? Someone recommended it to me, but haven't checked it out yet. >>
Yes. It's on daily so it sounds repetitive, but he has guests on his show. This week he's in Europe and has a comrad from Europacific fillingin for him. It's good. You'd enjoy it. Schiffradio.com--5 p.m. CDT.
He's launched a precious metal store, and he had his partner as a guest on his show yesterday. The guy (incidentally, Peter's cousin) said it takes about 10 days to process & ship orders! Silver takes at least 2 weeks (it might be an additional 2 weeks, it wasn't clear. I'm giving them the benefit of the doubt.) What's up with that? Ten days to process and ship orders???? This seems crazy to me.
Robert A. Heinlein
<< <i>Peter Schiff says almost the exact same things that you have just referred to as being political. I'm confused.
ME TOO!
You have to be able to see and understand reality, simply to protect your finances. >>
(x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
mariner67, and Mikes coins
Sinclair and Schiff are valuable resources because they keep important issues on the top of the pile for further consideration. And I agree with that. I'd rather be somewhat correct about the direction of a trend than the timing of the peak or the trough. I don't get my answers from either of them, but I continue to weigh the issues that they lay down in front of me. It keeps me thinking and generally - out of trouble.
I knew it would happen.
<< <i>I went all in on gold and silver when gold was at $600, thanks to Peter Schiff's book "Crash Proof." He was right then and ever since about the economy and it would be wise for those new to PMs to listen to what he says. There are now many "wise" gurus that the see the future now that it has been clearly illuminated, but I continue to put more trust in those that called it beforehand. They will hopefully be the ones brave enough to be first to call for a change in current scenery.
If I could just get on Peter's speed dial list for when it's time to sell.
I bot a basket of mining stocks --xme-- when he mentioned a couple of months ago that they hadn't participated in the rally in the metals. Well the fund has risen nicely in the paste several weeks.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
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