Showing posts with label Peter Schiff. Show all posts
Showing posts with label Peter Schiff. Show all posts

Saturday, November 8, 2014

In Defense of Peter Schiff

This is a great read on several fronts:  Austrian school of economics vs. conventional wisdom Keynesian, contrarian vs. group-think, outsider vs. establishment, outside-the-box thinking vs. insular, etc. and how the masses continue to get fleeced.

http://mises.ca/posts/blog/in-defense-of-peter-schiff/

Wednesday, September 25, 2013

Peter Schiff Was Right - 'Taper' Edition

Peter Schiff and I were right all along.  The Fed is trapped so they cannot taper QE.  And if they had tapered, markets would crash, and they would have to reverse course and gin up QE even more.  Which means they lose whatever little credibility they have left.

But the Fed and all the experts have to jawbone tapering/ending QE.  Hell, they've been cheerleading economic "green shoots" since the recession "ended" in 2009.

I like how the consensus mocked Schiff, as they did in 2006 when he rang the alarm bells.  And then the clowns, er...the "pundits" on CNBC have the gall to say "nobody saw it coming."  What a bunch of shills...

Janet Yellen will regret winning the appointment as Fed Chairperson because the USS Titanic will sink on her watch.


http://youtu.be/Tak9ODlBJgM

Sunday, November 25, 2012

Black Friday, Fiscal Cliff, Gold, Dollar

Peter Schiff is self-promotional and abrasive to his critics, but he's also insightful--and usually accurate with his forecasts.


http://youtu.be/WATn7PMOTLo

Saturday, September 24, 2011

Peter Schiff - Gold & Silver Plunge Mirrors 2008, What’s Next?

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/9/24_Peter_Schiff_-_Gold_%26_Silver_Plunge_Mirrors_2008%2C_Whats_Next.html
“Anyone who bought silver on leverage last week probably already has a margin call, so that’s difficult.  But for the cash buyer who is buying to preserve their wealth from inflation, yesterday was a great day.  Days like that are opportunities.  

I know for some people they are thinking, ‘Oh no, my gold has lost value.‘  Your gold is still your gold, your silver is still your silver.  Yes, if you had to sell it today you couldn’t get as many dollars or euros for your gold, but we’re not selling it today so what difference does it make? 

We’re holding it because we’re probably going to need it for tomorrow and so the forced selling is a good opportunity for the people who aren’t forced to sell and still are looking to buy.

I have a feeling that all of this volatility is on the speculative end.  It’s the leveraged players, it’s the hedge funds, the big money that’s gambling.  The physical market is not driven by speculators, it’s real demand by people from all around the world who want to save and who don’t want to do it in currencies where the interest rates are at zero and where the printing presses are running at full speed.

I think physical buyers are going to respond to the drop in price by increasing their purchases.  That’s how the market works, when prices are lower, you want to buy more....

“It’s only the speculators that are looking to buy high and chase momentum.  Then when it goes down they look to bail out.

They (speculators) are not there to be long-term investors and as soon as the momentum goes, they are out the door.  If I liked silver last week at $40 an ounce, I’ve got to like it even more at $30 an ounce.  It’s the same silver, so if I can get it for less money, why wouldn’t I buy it?”

When asked what he is doing with his own money Schiff stated, “I bought some mining shares in my personal account in the last couple of days and even some non-mining shares.  I like to take advantage of lower prices.  You always have to be looking at these declines as buying opportunities.”
 

Sunday, August 8, 2010

The golden decade

Thanks to Dick for bringing this article to my attention.

http://www.financialsense.com/contributors/peter-schiff/the-golden-decade