Peter Schiff right on the mark - Economy

[mikecat adjuster]

I've followed Peter Sciff for a while and I'll bet I've watched that clip before. He has a company called Euro Pacific Capital. There are various videos on youtube with him in it. He has recommended gold and investing in China etc.

He also said countires like China or the middle east should buy up all the gold mines, paying double what they're worth, just to get them. And then declare, 'we're not selling this gold to anyone', basically cornering the market. Then he recommends that the same country go to the gold standard and leave the dollar out of the picture, thus crippling our ecnonomy. He says it would not be difficult to do for a China or rich middle eastern country.

While I have followed his teachings, I wonder. Everyone has an opinion and someone will invariably be right. But does that mean he will continue to be right. Because he, and others I have read up on, are predicting worse times to come and for the U.S. to go sideways for years to come, after falling apart as far as what we know it to be today.

He has a field office in south Floirda that I emailed one day but they never got back with me. I guess that means I'm not a big enough player to invest with them?

 

[6thGen]

He also said countires like China or the middle east should buy up all the gold mines, paying double what they're worth, just to get them. And then declare, 'we're not selling this gold to anyone', basically cornering the market. Then he recommends that the same country go to the gold standard and leave the dollar out of the picture, thus crippling our ecnonomy. He says it would not be difficult to do for a China or rich middle eastern country.

A few in the Middle East have tried this before with silver. Didn't work out so well for them or their partners. If the Hunt brothers put daddy's oil money in a zero interest checking account they'd have fared better.

 

[mikecat adjuster]

A few in the Middle East have tried this before with silver. Didn't work out so well for them or their partners. If the Hunt brothers put daddy's oil money in a zero interest checking account they'd have fared better.

Good comment. I didn't know that. I never watched, but recently heard about a movie called 'Rollover' made in 1981 with Chris Christopherson Jane Fonda that looks at this issue. I watched a clip that was pretty dramatic. I don't know if the overall movie was good or not, but it was an interesting concept.

I think I found the clips, I don't know, maybe on youtube. But if anyone ahs that movie, I'd like to borrow it. I checked at a few movie rental places and none had it.

 

[Andy A]

Amazing predictions from Mr. Schiff! Did you notice the DJIA was at 13, 079 in the crawl under Ben Stein as he was recommending Merryl Lynch ($76 then - $7 now) to buyers? The Dow now sits at 8579. Most of the companies they were recommending to buy into have gone under or been bought out for pennies on the dollar. One guy thought the DJIA would hit 16,000 in 2008 and all of them were laughing at Schiff. What a bunch of bone heads. Who has the last laugh? Schiff was right. Gold was the place to invest. America should have been listening to this guy 2 years ago, but...

What is that old sayin' I'm trying to remember in my old age? Hmmm...Oh, yes. Hindsight is always 20/20.