It's always easy to look at things that have passed and say that someone was right or wrong, but watch this clip...

[video:youtube]2I0QN-FYkpw[/video]

Don't bother with how right Peter Schiff was. Look at not only how wrong everyone else was, but how certain they were that they were giving the crystal ball read on the future. None of them bothered to address any of what Schiff said except to give guffaws and even laugh in his face.

It reminds me of some of the heated arguments I've been in when the argument is not really over anything factual but our interpretations of the political world.

Wow, that's depressing and funny. Bet all those laughing at him now wish they had taken his advice.

that's incredible. seeing those people laughing at him is just sad. i hope those folks aren't still making money with their "expert" opinions. sadly, i bet they are.

The best part is showing how stupid the people on FOX are.

Or the financial press in general!!

Besides, how can anyone trust this Schiff guy?
Schiff is a firm believer in Reaganomics...uch regulation.

Here's the quote. Making it a link is weird here.
"Schiff is a firm believer in Reaganomics, especially Reagan's policy of reducing government regulation of the economy. Schiff worries that Barack Obama will increase such regulation."

Reminds me of a local radio investment show on the air here during the dotcom boom era. The on air investment "advisor" was still recommending some of the dotcom stocks as a good buy after they had soared to insane heights of hundreds of dollars per share from mere dollars per share. Many of these companies had never even shown a profit and in retrospect, never would. Still, this guy kept shilling for them. If they started at 3$ a share, soared to $300 a share and had a downturn to $275 a share, he would call it an excellent buying opportunity. I had to stop listening.

I don't know much about Schiff, did read Dr J's wiki link, but I would like to think that somebody with his kind of foresight should have a place in the new administration.

Chris

Well he did go into telling people to invest in gold in that one segment. It sure did have a run as people panicked, but pretty soon there are going to be a whole lot of people with gold and not so many people to sell it to and the price is going to tank.

Who buys and sells gold (meaning the metal)? Gold refiners and dealers. They pay you the wholesale price for your gold and sell you gold at the retail price. You lose unless the prevailing wholesale price is higher that the retail price you bought the metal at.

The first one - what an idiot! I'll have to watch the others a bit later when I've had a coffee.

km

"that's incredible. seeing those people laughing at him is just sad. i hope those folks aren't still making money with their "expert" opinions. sadly, i bet they are."

And I hope this Schiff guy is getting lots more attention. He certainly seems to deserve it.