No. Eat turd. Then gold. Then more turd. Then Petey's elephant. Then screw a bunch of grannies out of hard earned retirement funds.
I'm OFFICIALLY upgrading the mine shaft suffocation to death by serial killer.
Peter Schiff - Hard-Money Bank
- Thread starter Dr. Jones
- Start date
No. Eat turd. Then gold. Then more turd. Then Petey's elephant. Then screw a bunch of grannies out of hard earned retirement funds.
I'm OFFICIALLY upgrading the mine shaft suffocation to death by serial killer.
larryselbows
Banned
Thank you. I'm glad you are using your leisure time efficiently.
but his recommendation to buy gold was right for 5 years straight.
makes me wonder if all your other facts are wrong too.
you sure he started calling for a crash in 2002?
I think you're missing the point. If you call the same thing all the time regardless of conditions then sometimes the broken clock will tell the right time. He's been calling for hyperinflation any day now for the last 4 years.
And yes, here's a video of him "calling" the crash in 2002.
https://www.youtube.com/watch?v=rhJaVEWAG24
He called a crash years prior to the crash, he called a crash right before the crash, and he's calling a crash 4 years after a crash. I suspect he'll be calling a crash in 2022.
This is not a Schiff thing, just a general question. You are aware that a very simply equation in the rich getting richer is for them to pimp the assets they own, right? You think the market isn't full of hyperbole to get certain stocks to soar? Think there's a reason for that? I have no data on Schiff, but I'd be willing to suggest he bought a LOT of gold prior to going on his decade-long "BUY GOLD" campaign.
I listened to the 2002 video. He was not saying the same thing in 2002 as in 2006.
He got some things wrong, but taken as whole, he was more right than wrong, and if you actually took his advice about what he said he was advising his clients to do in 2002, and not improvising, you would have cleaned up.
SOME ONE TAKING HIS ADVICE LITERALLY FROM 2002 TO 2012 COULD HAVE MADE A FORTUNE
based solely on the videos I have seen posted in this thread.
2002 is cherry picking a year to make him look bad, and even in that year, he gave good advice.
He got some things wrong, but taken as whole, he was more right than wrong, and if you actually took his advice about what he said he was advising his clients to do in 2002, and not improvising, you would have cleaned up.
SOME ONE TAKING HIS ADVICE LITERALLY FROM 2002 TO 2012 COULD HAVE MADE A FORTUNE
based solely on the videos I have seen posted in this thread.
2002 is cherry picking a year to make him look bad, and even in that year, he gave good advice.
So put your money where your mouth is. Follow Prophet Schiff into gold. Get rich off speculation. Good luck to ya.
larryselbows
Banned
Brahhh.... What ISN'T speculation? Besides, check this graph of the price of gold for the last 10 years:
Brahhh.... What ISN'T speculation? Besides, check this graph of the price of gold for the last 10 years:
And you know why that is? It's because of the massive media campaign that says, "Buy Gold!" It's all the commercials that say, "we'll buy your gold."
I know about a dozen, non-savvy, folks that have pulled investments to buy gold. They've done well, but you know who did even better? I'll let you guess.
Know what else? Gold, like everything else, will eventually find it's true worth... once all the 'real' market makers find the next thing to pimp.
thanks Larry.
according to the video, Peter was saying to shift assets to international equities and bonds and commodities in 2002 (not just gold) , and out of the dollar.
which I think would have done even better than gold from 2002 to 2005/2006
If someone did this, and then locked in their gains and shifted to gold in 2005 to 2007, as per the videos, they'd have done super.
according to the video, Peter was saying to shift assets to international equities and bonds and commodities in 2002 (not just gold) , and out of the dollar.
which I think would have done even better than gold from 2002 to 2005/2006
If someone did this, and then locked in their gains and shifted to gold in 2005 to 2007, as per the videos, they'd have done super.
larryselbows
Banned
No doubt ..
"Everything is speculation" is a weak argument.
Productive assets that better humanity. Gold has little economic value, especially at these prices. The only reason it's even relevant is it's rarity and functionality as money in a pre-technological world. Technology has rendered it obsolete, & old timers are clinging on in fear of the modern world. "Civilized people don't buy gold".--Warren Buffett.
I also have personal ethical issues with hording wealth & worshipping it rather than investing myself into humanity. Producing cheaper food to help feed the poor is much more rewarding than burying gold under a mattress & praying for a market disconnect to capture a wealth transfer from, all the while creating a negative pressure on the productive markets by doing this hording. This gold speculation would be worth nothing without the producers creating society for which it can leech from.
That's a myth created by folks who don't understand money or markets. Show me where this extra magic money is & why the fed keeps printing when we already have "too much".
you are just being difficult.
"Everything is just speculation" is profound.
PS, an example to answer your question of where the money went, is to just refer back to the gold chart just shown, although a full answer is more complicated, obviously.
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I meant inflated in the context as in relation to the amount of national debt vs. the way I see things heading after this next election, more so than a literal translation.
I get why it makes people uneasy but I've been nothing but encouraged by debt levels. Households have delevered to a more healthy, sustainable level, cheaper mortgages support consumption growth, state & local govt. has shrunk considerably in terms of debt & labor force, business investment has been incredibly robust despite the cash on the sidelines myth, productivity gains have been impressive, & the outsourcing gap is narrowing by the day. Gold is a play on instability & uncertainty. Every one of these data points have been running counter to that thesis for some time now. The only thing left for gold bugs is the big, bad, scary Federal Reserve that they don't understand. The majority of that "debt" could be extinguished with the stroke of a key, & we'd feel even healthier for it. In fact, I'd love them to expand drastically further to buy back all the toll roads, federally leased buildings, etc. @ 0% interest that are commercially viable at higher rates. The return to the US taxpayer & budget would be phenomenal.