Peter Schiff Cut Off By CNN for Speaking Truth
Sounds like Hava-gafa-kasha at work. He doesn't want to hear it, but if you do listen to it, you will see that he rails on overpaid CEO's and Wall St fat cats. That fits into your agenda?
i've listened to almost everything (its a lot of stuff) you posted. I just wonder why YOU wont acknowledge all the predictions that Mr.Schiff got wrong. You know you cant hide from the truth?
The question is not that Schiff has got some predictions correct. The question is why he has got SO much wrong and what that tells you about a person.
It does tell you something about your character. No?
Are you trying to tell us you have ONLY taken his advice on GOLD? That doesnt pass the smell test.
And if you have taken his advice in general its no wonder why you are always complaining about money.
I think this is very telling concerning the character of your mentor. Interesting no? Did you read it?
When I asked Schiff what training and experiences he had to form his economic views and opinions, I asked if he was an economist or had any economics training. "I think I know more about economics than anyone with the title and I know more than anyone in government," he boasted, adding, "These other guys are witch doctors and I'm the real doctor."
As for when he developed his economic genius, Schiff told me, "I've always known this much -ever since I was a kid and my dad wrote a book called the Biggest Con: How the Government is Fleecing You, I understood capitalism and how it works. I read Ayn Rand and I read some of the Keynesian economics stuff and could see why those economists were all wrong."
Schiff's father, Irwin Schiff, is a long-term tax protestor who has written many books about the supposed illegality of the U.S. income tax system. Unfortunately the senior Irwin didn't read the section in my Taxes for Dummies about what happens to folks who refuse to pay their income taxes because they don't believe in the validity of our nation's tax laws. Sadly, Irwin Schiff, now in his 80s, has been convicted of numerous federal income tax crimes and is currently serving another lengthy prison term.
Interestingly, in the marketing copy for Irwin Schiff's book, The Biggest Con, it says of the book, "It will convince you that most American ‘economists' don't know what they are talking about - which is why this country is in such deep economic and financial trouble. It provides irrefutable proof of how the federal government has been continually undermining the American economy and forcing a lower standard of living on us all." This sounds a lot like the recent statements of his son Peter yet the father's book was published back in 1977! (You know the expression about the apple not falling far from the tree...)
Before I get to Peter Schiff's more recent predictions, I was able to track down some of his older ones. I always enjoy doing this for prognosticators like Schiff who claim as he did to U.S. News last year that, "The reality is I don't think I've been wrong on anything," in reference to his predictions over the past decade. Let's take a look at that bold claim
While you refuse to answer the questions i have posed to you about his record of predcitions can you please tell why you are quoted as saying that Peter Schiff predicted the Dow would drop to 5,000 when he has clearly predicted that it would get under 2,000. There is a discrepancy here that maybeyou can clear up. Thanks
Here's someone talking about Schiff's investing advice - good and bad.
Originally Posted by Havakasha
Still looking for validation I see.
Typo? LMFAO. You post 5,000 he says 1,400. Cute
I'm always looking for the truth. You still hiding and running? Unwilling to admit Mr. Schiff's mistaken predictions? Clearly
Did you read the other posts of mine? Do you want to make a friendly wager on the remaining
predictions of his for 2011?
You Should check out this site because its pretty devestating when it comes to Peter Schiff's predictions.
This is a quote from that blog. Do you know if Peter Schiff has posted this information? It would be important to know dont you think?
"I challenge Schiff to post the average returns for his clients on a year-by-year basis, just as Sitka Pacific does. That is the only way to see just how right (or wrong) his investment thesis is."
Originally Posted by Havakasha
He sounds confident to me. About his father, many still feel that income taxes are unconstitutional, just google it yourself if you don't believe me. Lets fact it, you view him as a heretic, and would probably move to burn him at the stake for his contrary beliefs. Ideologue.
Confident? LMFAO. When you say as he does that he never made a mistaken prediction.
And then you show that he has made MANY, MANY mistaken predictions, most people wouldnt callthat confident but would call that a LIE."
You should really check out this comment. Pretty insightful dont you think?
I particularly love this quote. It kinds of sums up everything i have been TRYING to tell you. :)
"HE'S CORRECT.. 'SOMEDAY' WE WILL HAVE HYPERINFLATION. THE PROBLEM IS HIS CLIENTS MAY BE
BROKE BEFORE THAT PLAYS OUT."
Andy Tabbo Says:
January 27th, 2009 at 8:50 pm
I’ve often wondered about Schiff’s theses….
If you have hyperinflation, the local stock market won’t fall. It will actually rally, because the price of everything rallies. It’s true that the stock market will not rally as fast as the hard assets denominated in the same currency, but the equities will go up.
The decoupling thing was debunked by many folks on this blog before it was debunked in real life.
The cognitive dissonance of Peter Schiff is: He understands that something is “wrong” but he doesn’t quite know how to employ a correct strategy. For instance, his apocolyptic scenarios for the US and its debt problems were completely in line with a coming “debt crunch.” In a debt crunch, the ENTIRE world must buy back the debt-denominated currencies, Dollars and Yen. This causes a temporary, though severe, demand for Dollars and Yen.
He could have easily employed his “world views” by either going LONG or SHORT the Japanese Yen, a very ‘clean’ trade.
He’s correct….”someday” we will have hyperinflation. The problem is his clients my be broke before that plays outs.
And even if the “hyper-inflationary” scenario plays out, you don’t want to be short equities. You just want to be long hard assets like grain or oil. Gold is NOT your optimum long position, either. Gold is a fake commodity. If you fear real inflation, get long grains and oil.
I’m not sure we’re there yet. I think we still have a lot of debt to pay back first…..