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"Whether the economy gets its fix next week or this week or a couple months from now, it is...

"Whether the economy gets its fix next week or this week or a couple months from now, it is coming," says Euro Pacific's Peter Schiff. Don't be confused, he regards the inevitability of a new QE as a bad thing. The Fed is effectively making "free" money for the government. All assets get priced based on this phony rate, making it impossible to correctly price anything - from mortgages, to stocks or even gold. You can't avoid reality forever though, Schiff says; eventually QE will end and our day of reckoning will come.
Comments (22)
  • bbro
    , contributor
    Comments (9841) | Send Message
     
    Schiff...
    12 Sep 2012, 07:47 PM Reply Like
  • sheeple2012
    , contributor
    Comments (203) | Send Message
     
    hard to bet against a guy who called the housing and financial collapse in 2006/2007 when all the other bought off clowns were calling for Dow 16,000
    12 Sep 2012, 07:57 PM Reply Like
  • Archman Investor
    , contributor
    Comments (2466) | Send Message
     
    The problem with Peter Schiff is not that he is wrong.

     

    He is 100% right. He always has been. The problem is he always "looks" wrong because he is verbally trying to fight against an entity that controls and owns our nation.

     

    Its like that clown from Wells Fargo. Mr. James (100%+ bull market bull) Paulsen. He is never wrong, nor has he been wrong since 2009 because the FED has made him "look" right.

     

    The old saying: You cannot fight the FED.

     

    I have no clue when the tide will change. Not a clue. I go with the flow and right now that means higher equity prices until our nation's entitlement / currency crisis hits full tilt- a- whirl.
    12 Sep 2012, 08:07 PM Reply Like
  • TomasViewPoint
    , contributor
    Comments (4845) | Send Message
     
    Think of Peter Schiff's warning like a doctor telling you to change your life style and quit smoking, drinking and chasing women or your weak heart will give out and you will be dead in a few years. Every day that goes bye that you smoke, drink and chase women you feel like you are right and he is wrong. But then you go stone cold and never knew what hit you. You were only wrong once but there was no recovery and the doctor cannot even celebrate his prediction because it is too miserable of an event to celebrate.

     

    That is where this US economy could go. We cannot figure out why we wont see it coming and we take comfort in the fact that nothing has happened yet. Well except for the big financial meltdown of 2008. We are in denial that black swans exist when we just seen a big one 4 years ago.

     

    Right now the Fed is keeping us pumped up and Euro problems have overshadowed our problems. But wait until the day when this thing turns. This could be the worst trauma this country ever goes through outside of the Civil War and WWII and it is all preventable.

     

    It is also interesting that everyone believes that it is hard to time the market but they all demand that Schiff give a timeline on his calls. I guess if you are predicting bad things then you have to give the exact date otherwise you can be as foggy as San Fran on a winter day.
    12 Sep 2012, 08:22 PM Reply Like
  • Archman Investor
    , contributor
    Comments (2466) | Send Message
     
    Ran across this video on YouTube.
    Interesting to watch.

     

    People should think of their own kids when they watch it.

     

    http://bit.ly/RSQzPs
    12 Sep 2012, 08:25 PM Reply Like
  • New Low Observer
    , contributor
    Comments (2122) | Send Message
     
    Hey Tomas,

     

    Ha! Maybe as foggy as a summer day in SF...got too many "croix de Candlestick" pins to prove it. (History of Croix de Candlestick: http://bit.ly/PdgsHf).
    13 Sep 2012, 12:04 AM Reply Like
  • TomasViewPoint
    , contributor
    Comments (4845) | Send Message
     
    New Low

     

    Pretty cool. I did not know of that tradition although I have been in SF a lot. Maybe my favorite city. I love coming across the Golden Gate bridge back into SF and seeing the city to my left in the sun and the ocean to my right. One of the most beautiful vistas in the world.
    13 Sep 2012, 09:58 AM Reply Like
  • bbro
    , contributor
    Comments (9841) | Send Message
     
    "He is 100% right. He always has been." Beware of absolutes...always,nev...
    12 Sep 2012, 08:11 PM Reply Like
  • Ted Bear
    , contributor
    Comments (607) | Send Message
     
    The problem with Schiff is that he has been calling it this way since 1995.

     

    There are two elements to making a good call: Direction, and Time.

     

    Peter's clock was correct in 2006/7/8....but was it luck, or happenstance?

     

    Not much use to have a perma bear or a perma bull making noise unless they add the element of time, and it is reasonable, as in 'my works tells me that the equity market will be 20% lowerhigher by November 1, 2012, and here is why:'
    12 Sep 2012, 08:11 PM Reply Like
  • Remyngton
    , contributor
    Comments (354) | Send Message
     
    In the meanwhile , with all his forecasts , he's been wrong most of the last 5 years ---
    How are his clients doing while he collects his fees ? ? ? . . . it's easy to be the cassandra , when you're gambling with other people's money
    12 Sep 2012, 08:12 PM Reply Like
  • Pwdrskir
    , contributor
    Comments (135) | Send Message
     
    Just curious, which forecasts were wrong?
    12 Sep 2012, 08:26 PM Reply Like
  • Remyngton
    , contributor
    Comments (354) | Send Message
     
    check Peter Schiff bad calls , many are on video :

     

    Schiff in 2002 , predicts Nasdaq 500 and Dow 2000

     

    Called for $150-200 bbl crude 2009

     

    For 2011 he predicted a catastrophic collapse of the U.S. stock market in Jan. 2011, he predicted HYPER inflation, and he predicted interest rates on 10 year notes would climb to 6%.

     

    =========

     

    you don't get points for yelling "it's 3 o'clock" every hour and then when it is actually 3 o'clock, Schiff's looking around and saying "told you so".
    12 Sep 2012, 08:55 PM Reply Like
  • Pwdrskir
    , contributor
    Comments (135) | Send Message
     
    Fair enough, I knew about the housing market call, but didn't know about the list you posted. Market participants make calls all the time and if your filter is not on, you could caught on the wrong side of a position.

     

    I have listened to what Peter has to say about the printing of money with its consequences and can't find a flaw in his assessment.
    12 Sep 2012, 10:34 PM Reply Like
  • Archman Investor
    , contributor
    Comments (2466) | Send Message
     
    Today's cat fight between Peter Schiff and Ron Insana.

     

    http://bit.ly/QMuT97
    12 Sep 2012, 08:15 PM Reply Like
  • Remyngton
    , contributor
    Comments (354) | Send Message
     
    That was hilarious ...

     

    I was waiting for the proverbial ,

     

    "I would challenge you to a battle of wits, but I see you are unarmed!”
    12 Sep 2012, 08:27 PM Reply Like
  • Debutant
    , contributor
    Comments (2267) | Send Message
     
    I have been investing in gold since the early seventies.
    I didn't know the name Peter Schiff until I saw it mentioned on the Seeking Alpha in the past 12 months or so when I started reading SA.
    I do not follow any investment gurus who represent the "pro-gold" or the "anti-gold" camp. In other words, Buffet's or Schiff's views on gold are equally irrelevant for me.
    But I do remember Ron Insana from his years with financial media.
    He used to work for the CNBC. Then started his own hedge fund which went bust shortly. He then worked for (employed by?) another investment fund. Now he appears on the CNBC as a guest. Or, maybe these are two different Insanas, one with and one without a hairpiece.

     

    Apparently Schiff sells gold. What is it that Insana is selling now?
    13 Sep 2012, 04:49 AM Reply Like
  • Remyngton
    , contributor
    Comments (354) | Send Message
     
    Insana went to work for SAC as a "spokesperspn" after his fund imploded , and returned to CNBC as a mostly bullish market commentator . . . ( he's now selling BRITO for the Three Stooges !! )
    13 Sep 2012, 08:28 AM Reply Like
  • jmartz101
    , contributor
    Comments (187) | Send Message
     
    I agree but for now lets make our money well we can!
    12 Sep 2012, 08:55 PM Reply Like
  • Jhalgren
    , contributor
    Comments (112) | Send Message
     
    Hmm. That course of action always ends up with poor results!
    12 Sep 2012, 09:57 PM Reply Like
  • Pwdrskir
    , contributor
    Comments (135) | Send Message
     
    Maybe for you...
    12 Sep 2012, 10:44 PM Reply Like
  • Mattster
    , contributor
    Comments (162) | Send Message
     
    Then why ever end QE just do it forever buy uranium and coal mines retire early I like it.
    12 Sep 2012, 11:00 PM Reply Like
  • DaLatin
    , contributor
    Comments (1522) | Send Message
     
    Land.. Or if allowed 2 words.. Wet land !
    13 Sep 2012, 12:05 AM Reply Like
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