Page 1 of 4 123 ... LastLast
Results 1 to 30 of 101

Thread: Peter Schiff won't back down: 'The Dollar is going to crash, Buy Gold'

  1. #1

    Peter Schiff won't back down: 'The Dollar is going to crash, Buy Gold'

    Some things never change. Peter Schiff, CEO of EuroPacific Capital, remains steadfast in his uber-bearish view.

    "I'm surprised it's rallied this much but that doesn't mean it's permanent," he tells me in the accompanying video. "When traders wake up to reality and realize how wrong these [bullish dollar] bets are, they're going to unwind these trades and the dollar is going to unwind quickly."

    The 'reality' according to Schiff, is the U.S. economy has not "recovered" and the Federal Reserve is not going to raise rates anytime soon.

    http://finance.yahoo.com/news/peter-...235520038.html



  2. Remove this section of ads by registering.
  3. #2
    This is what happens when economic predictions are based on ideology instead of data.
    Quote Originally Posted by Swordsmyth View Post
    Pinochet is the model
    Quote Originally Posted by Swordsmyth View Post
    Liberty preserving authoritarianism.
    Quote Originally Posted by Swordsmyth View Post
    Enforced internal open borders was one of the worst elements of the Constitution.

  4. #3
    He always predicts higher gold prices and an economic collapse. A stopped clock is right twice a day.

    Schiff, who is known for making dramatic statements, has been calling for the dollar's collapse for years now. But like any true believer, the dollar's recent ascent has made him more steadfast in his view vs. changing course.

    "I don't think it's going to take decades" for the dollar to tumble; "I'm surprised it's taken this long," he says. "But I do believe the fact we've had to wait so long, it's an even bigger pay day. All the problems have gotten bigger. The Fed has inflated the mother of all bubbles."

    Predictably, Schiff believes the dollar's demise will reward those who've followed his long-standing advice to buy gold. "Gold's going a lot higher," he says, recalling his past forecasts ranging from $2000 to $5000 an ounce. "There's no real ceiling on gold because there's no floor on the dollar," he says.
    Any good news is "an illusion" or "manipulation" but any word of bad news is fact and proof he is right.
    Last edited by Zippyjuan; 03-22-2015 at 05:49 PM.

  5. #4
    Quote Originally Posted by Zippyjuan View Post
    A stopped clock is right twice a day.
    More like, "A clock only works when no one is messing with the time."

    When it comes to our clocks, they switch the time twice a year. When it comes to the economy, they are constantly moving it. What Schiff says should be reality. And someday it will be. But there's so much intervention into markets that one cannot possible predict when it will happen. There are hundreds of workmen getting paid handsomely to go around this ship and patch up holes as they appear to keep this ship from sinking. Eventually, we all know they won't be able to do it anymore, but I have no idea how long that might take.
    "And now that the legislators and do-gooders have so futilely inflicted so many systems upon society, may they finally end where they should have begun: May they reject all systems, and try liberty; for liberty is an acknowledgment of faith in God and His works." - Bastiat

    "It is difficult to free fools from the chains they revere." - Voltaire

  6. #5
    Pfizer Macht Frei!

    Openly Straight Man, Danke, Awarded Top Rated Influencer. Community Standards Enforcer.


    Quiz: Test Your "Income" Tax IQ!

    Short Income Tax Video

    The Income Tax Is An Excise, And Excise Taxes Are Privilege Taxes

    The Federalist Papers, No. 15:

    Except as to the rule of appointment, the United States have an indefinite discretion to make requisitions for men and money; but they have no authority to raise either by regulations extending to the individual citizens of America.

  7. #6
    Quote Originally Posted by Zippyjuan View Post
    A stopped clock is right twice a day.
    LOL. Good one. On a long enough time line, I guess every prediction CAN be right.

  8. #7
    Quote Originally Posted by CaptUSA View Post
    More like, "A clock only works when no one is messing with the time."

    When it comes to our clocks, they switch the time twice a year.
    If you're talking about daylight savings time, it's technically once and once back, any day and 365 days from it, will always have the same time relative to the sun.

    When it comes to the economy, they are constantly moving it. What Schiff says should be reality. And someday it will be.
    He's giving investment advice. People are going to be putting money into risk based on his predictions, so how long do they have to wait before they can say he's wrong? He's free to have his opinion, but should we make policy based on his analysis or invest our savings/earnings in it?

    But there's so much intervention into markets that one cannot possible predict when it will happen.
    So hyperinflation and hyperdeflation is equally likely? Next year the dollar can be worth 5 euro, or 10 euro or 1/2 euro, it's all anybody's guess?

    There are hundreds of workmen getting paid handsomely to go around this ship and patch up holes as they appear to keep this ship from sinking. Eventually, we all know they won't be able to do it anymore, but I have no idea how long that might take.
    What's eventually? 20 years? 50 years? when I'm dead?

  9. #8
    Quote Originally Posted by Zippyjuan View Post
    Any good news is "an illusion" or "manipulation" but any word of bad news is fact and proof he is right.
    That's the good thing about being a conspiracy theorist or alarmist, you're right because you say you're right.



  10. Remove this section of ads by registering.
  11. #9
    Quote Originally Posted by TheCount View Post
    This is what happens when economic predictions are based on ideology instead of data.
    You could have said the same thing back at the peak of the internet stock bubble when Peter Schiff was advocating the same thing. You could have said, look, some people are getting 300% ROI on their internet stocks!! The "data" says Peter Schiff is wrong and people need to buy internet stocks!!

    Then those stocks crashed. What happened to your "data" then?

    You are basically doing the same thing now, of course, but on a much larger scale.
    "He's talkin' to his gut like it's a person!!" -me
    "dumpster diving isn't professional." - angelatc
    "You don't need a medical degree to spot obvious bullshit, that's actually a separate skill." -Scott Adams
    "When you are divided, and angry, and controlled, you target those 'different' from you, not those responsible [controllers]" -Q

    "Each of us must choose which course of action we should take: education, conventional political action, or even peaceful civil disobedience to bring about necessary changes. But let it not be said that we did nothing." - Ron Paul

    "Paul said "the wave of the future" is a coalition of anti-authoritarian progressive Democrats and libertarian Republicans in Congress opposed to domestic surveillance, opposed to starting new wars and in favor of ending the so-called War on Drugs."

  12. #10
    Quote Originally Posted by dannno View Post
    You could have said the same thing back at the peak of the internet stock bubble when Peter Schiff was advocating the same thing. You could have said, look, some people are getting 300% ROI on their internet stocks!! The "data" says Peter Schiff is wrong and people need to buy internet stocks!!
    He could have said a lot of things, but I am not aware that he advocates investing in anything. It's one thing to say one man's investment advice is wrong, another to say you have better advice.

    Then those stocks crashed. What happened to your "data" then?
    To ask this question you must assume he relied on short term data to make conclusions, and then advised people to invest accordingly.

    You are basically doing the same thing now, of course, but on a much larger scale.
    Except he's not saying invest in anything, is he?

  13. #11
    Quote Originally Posted by PRB View Post
    If you're talking about daylight savings time, it's technically once and once back, any day and 365 days from it, will always have the same time relative to the sun.
    Quote Originally Posted by TheCount View Post
    ...I believe that when the government is capable of doing a thing, it will.
    Quote Originally Posted by Influenza View Post
    which one of yall fuckers wrote the "ron paul" racist news letters
    Quote Originally Posted by Dforkus View Post
    Zippy's posts are a great contribution.




    Disrupt, Deny, Deflate. Read the RPF trolls' playbook here (post #3): http://www.ronpaulforums.com/showthr...eptive-members

  14. #12
    Quote Originally Posted by TheCount View Post
    [Posting at the top of the thread to get the widest audience of visitors/new members]
    Quote Originally Posted by Zippyjuan View Post
    [Posting at the top of the thread to get the widest audience of visitors/new members]

    .
    Quote Originally Posted by PRB View Post

    [Posting at the top of the thread to get the widest audience of visitors/new members]

    Ha ha; look who is posting 2nd, 3rd, and 6th in a thread. Our resident Democrats who are paid to discourage new membership on the site. Are you people with the National Jewish Democratic Council, or another organization? That's the only puzzle piece I haven't figured out.

    Anyway, our economy has been declining for 50+ years. Hyperinflation versus a slow burn. Pick your poison. I happen to think it will continue to deflate. Quality of products and service are in the toilet. The Philippines overtook India a few years back for call centers; however, that is just another blip in our decades long slide.

    The east is up; the west is down. China invests millions in African infrastructure. Vietnam, Korea, Philippines, India, etc. continue to rise. The United States? Dunkin Donuts invests in fat Americans by planning dozens of stores in California to match Starbucks.
    Quote Originally Posted by TheCount View Post
    ...I believe that when the government is capable of doing a thing, it will.
    Quote Originally Posted by Influenza View Post
    which one of yall fuckers wrote the "ron paul" racist news letters
    Quote Originally Posted by Dforkus View Post
    Zippy's posts are a great contribution.




    Disrupt, Deny, Deflate. Read the RPF trolls' playbook here (post #3): http://www.ronpaulforums.com/showthr...eptive-members

  15. #13
    Quote Originally Posted by NorthCarolinaLiberty View Post
    Yes sir. Easy to say when you don't have a job or time/schedule to follow.

  16. #14
    Quote Originally Posted by NorthCarolinaLiberty View Post
    I happen to think it will continue to deflate.
    Thank you. I guess we can be friends. Can we agree Schiff is wrong?

    Quality of products and service are in the toilet. The Philippines overtook India a few years back for call centers; however, that is just another blip in our decades long slide.
    Nothing is stopping Americans from overtaking them again other than laws that mandate pay.

    The east is up; the west is down. China invests millions in African infrastructure. Vietnam, Korea, Philippines, India, etc. continue to rise. The United States? Dunkin Donuts invests in fat Americans by planning dozens of stores in California to match Starbucks.
    Being fat is a first world luxury, nobody is forcing anybody to eat anything.

  17. #15
    What would Schiff say about an asset which quadruples or quintuples in price in just a few years? Hitting new highs along the way? What would he say about people who claimed that "this is just the beginning and the price has no limits on how high it can go!".

    Would he say they are nuts- it has to crash? That is a major bubble, right? And Schiff is an expert on spotting bubbles and predicting crashes. Well, that describes Peter Schiff himself and the market for gold. Even after it has lost over a third of its peak value, he is still saying that even that record price is too low for this asset. He failed to identify the bubble and crash. On a subject he claims to know tons about.

    http://www.hardassetsinvestor.com/in...owall=&start=1

    Peter Schiff: Gold To Surge Past $1,900 In 2014 As Debt Piles Up

    IU.com: So how high is high? What seems realistic to you if you were to put a dollar value on that rally?

    Schiff: It’s hard to put a dollar value on it, because I have no idea what a dollar will be worth, if anything. There’s no limit as to how high the price of gold can go. I think, at a minimum, you’re going to see gold prices at $5,000 before the bull market ends. But it could be a lot higher than $5,000, there’s just no way to know now.
    Gold today is about $1180 an ounce. Record price was $1900 an ounce. But things can only go higher! Lower gold prices are manipulations! In 2014, it didn't get much above $1200 and it returned to that level by the end of the year.
    Last edited by Zippyjuan; 03-22-2015 at 06:40 PM.

  18. #16
    Quote Originally Posted by PRB View Post
    . Can we agree Schiff is wrong?
    The only wrong I see is you in this forum. And you never answered my question from the religion forum before you got booted. Are you a Jewish atheist or agnostic?
    Quote Originally Posted by TheCount View Post
    ...I believe that when the government is capable of doing a thing, it will.
    Quote Originally Posted by Influenza View Post
    which one of yall fuckers wrote the "ron paul" racist news letters
    Quote Originally Posted by Dforkus View Post
    Zippy's posts are a great contribution.




    Disrupt, Deny, Deflate. Read the RPF trolls' playbook here (post #3): http://www.ronpaulforums.com/showthr...eptive-members



  19. Remove this section of ads by registering.
  20. #17
    Quote Originally Posted by Zippyjuan View Post
    What would Schiff say about an asset which quadruples or quintuples in price in just a few years? Hitting new highs along the way? What would he say about people who claimed that "this is just the beginning and the price has no limits on how high it can go!".

    Would he say they are nuts- it has to crash? That is a major bubble, right? And Schiff is an expert on predicting bubbles. Well, that describes Peter Schiff himself and the market for gold. Even after it has lost over a third of its peak value, he is still saying that even that record price is too low for this asset.

    http://www.hardassetsinvestor.com/in...owall=&start=1



    Gold today is about $1180 an ounce. Record price was $1900 an ounce. But things can only go higher! Lower gold prices are manipulations!
    Yeah, let me go sell everything I have and wait until it becomes $5000. I'll have 4x what I have today.

  21. #18
    Quote Originally Posted by NorthCarolinaLiberty View Post
    The only wrong I see is you in this forum. And you never answered my question from the religion forum before you got booted. Are you a Jewish atheist or agnostic?
    I won't answer that unless and until you first explain why you'd even suggest such a thing. Why don't you ask me if I'm Muslim or Hindu?

  22. #19
    Quote Originally Posted by PRB View Post
    I won't answer that unless and until you first explain why you'd even suggest such a thing.

    I'm just asking. Are you a Jewish atheist or agnostic. Yes or no?
    Quote Originally Posted by TheCount View Post
    ...I believe that when the government is capable of doing a thing, it will.
    Quote Originally Posted by Influenza View Post
    which one of yall fuckers wrote the "ron paul" racist news letters
    Quote Originally Posted by Dforkus View Post
    Zippy's posts are a great contribution.




    Disrupt, Deny, Deflate. Read the RPF trolls' playbook here (post #3): http://www.ronpaulforums.com/showthr...eptive-members

  23. #20
    Quote Originally Posted by PRB View Post
    Yeah, let me go sell everything I have and wait until it becomes $5000. I'll have 4x what I have today.

    If you bought gold around 2002, it would be 4x today.
    Quote Originally Posted by TheCount View Post
    ...I believe that when the government is capable of doing a thing, it will.
    Quote Originally Posted by Influenza View Post
    which one of yall fuckers wrote the "ron paul" racist news letters
    Quote Originally Posted by Dforkus View Post
    Zippy's posts are a great contribution.




    Disrupt, Deny, Deflate. Read the RPF trolls' playbook here (post #3): http://www.ronpaulforums.com/showthr...eptive-members

  24. #21
    Quote Originally Posted by PRB View Post
    Yes sir. Easy to say when you don't have a job or time/schedule to follow.
    What you said is not even relevant. If it makes you feel better, then I have a job and I'm saying it. Others on here with jobs said the same thing in another thread.
    Quote Originally Posted by TheCount View Post
    ...I believe that when the government is capable of doing a thing, it will.
    Quote Originally Posted by Influenza View Post
    which one of yall fuckers wrote the "ron paul" racist news letters
    Quote Originally Posted by Dforkus View Post
    Zippy's posts are a great contribution.




    Disrupt, Deny, Deflate. Read the RPF trolls' playbook here (post #3): http://www.ronpaulforums.com/showthr...eptive-members

  25. #22
    Quote Originally Posted by NorthCarolinaLiberty View Post
    I'm just asking. Are you a Jewish atheist or agnostic. Yes or no?
    If I said no, what would you move on to?

  26. #23
    Quote Originally Posted by NorthCarolinaLiberty View Post
    What you said is not even relevant. If it makes you feel better, then I have a job and I'm saying it. Others on here with jobs said the same thing in another thread.
    Daylight saving isn't about saving time, it's about utilizing more sunlight when available, to save energy. So in the analogy of cutting a blanket, we didn't get a longer blanket, just a blanket that gets more sunlight.

  27. #24
    Quote Originally Posted by NorthCarolinaLiberty View Post
    If you bought gold around 2002, it would be 4x today.
    What did he predict it was going to be in 2002?



  28. Remove this section of ads by registering.
  29. #25
    Quote Originally Posted by PRB View Post
    Daylight saving isn't about saving time, it's about utilizing more sunlight when available, to save energy. So in the analogy of cutting a blanket, we didn't get a longer blanket, just a blanket that gets more sunlight.

    Where is more sunlight? The daylight you pick up at the end of the day is lost at the beginning of the day.
    Quote Originally Posted by TheCount View Post
    ...I believe that when the government is capable of doing a thing, it will.
    Quote Originally Posted by Influenza View Post
    which one of yall fuckers wrote the "ron paul" racist news letters
    Quote Originally Posted by Dforkus View Post
    Zippy's posts are a great contribution.




    Disrupt, Deny, Deflate. Read the RPF trolls' playbook here (post #3): http://www.ronpaulforums.com/showthr...eptive-members

  30. #26
    Here's how I think it plays out: USDX to 150, Gold to sub $1,000, Silver to sub $12, US Interest rates rising, USDX at 150 causes all EU banks to bust, Fall 2015 US Bond market collapses, Interest rates spike, Private assets spike: Stocks/Gold/Silver,etc, Govt's officially go bust, Govt starts confiscating private assets: IRA/401K, Taxes rise, Confidence in Govt completely lost, Massive social unrest, New "digital only" devalued currency issued 2017. Let the games begin!

  31. #27
    Quote Originally Posted by PRB View Post
    What did he predict it was going to be in 2002?
    In 2002, he was predicting DOW 4,000 or even 2000. http://investingcaffeine.com/2009/09...as-no-clothes/ Dow was about 8,000 at the time. "bear market could last ten years". Today it is over 18,000. Inflation will be substantial he said and "significant portions of the Fortune 500 will file for bankruptcy".

    Last edited by Zippyjuan; 03-22-2015 at 07:13 PM.

  32. #28
    Quote Originally Posted by PRB View Post
    If I said no, what would you move on to?
    Pretty much the answer I'd expect from somebody who worked in a law office and said he has prosecutor friends.

    Quote Originally Posted by PRB View Post
    What did he predict it was going to be in 2002?
    I'm talking about you and me. You scoffed at 4x profits and I said it could be done.
    Quote Originally Posted by TheCount View Post
    ...I believe that when the government is capable of doing a thing, it will.
    Quote Originally Posted by Influenza View Post
    which one of yall fuckers wrote the "ron paul" racist news letters
    Quote Originally Posted by Dforkus View Post
    Zippy's posts are a great contribution.




    Disrupt, Deny, Deflate. Read the RPF trolls' playbook here (post #3): http://www.ronpaulforums.com/showthr...eptive-members

  33. #29
    Quote Originally Posted by Zippyjuan View Post
    In 2002, he was predicting DOW 4,000. http://seekingalpha.com/article/1068...hiff-right-now Dow was about 8,000 at the time. Today it is over 18,000.

    Nice Monday morning quarterbacking from someone who declined to bet me where there loser leaves the forum for good. What did you have to lose again? Oh, that's right; you never said what you have to lose, but instead ran off to the next thread.
    Quote Originally Posted by TheCount View Post
    ...I believe that when the government is capable of doing a thing, it will.
    Quote Originally Posted by Influenza View Post
    which one of yall fuckers wrote the "ron paul" racist news letters
    Quote Originally Posted by Dforkus View Post
    Zippy's posts are a great contribution.




    Disrupt, Deny, Deflate. Read the RPF trolls' playbook here (post #3): http://www.ronpaulforums.com/showthr...eptive-members

  34. #30
    Quote Originally Posted by Zippyjuan View Post
    In 2002, he was predicting DOW 4,000. http://seekingalpha.com/article/1068...hiff-right-now Dow was about 8,000 at the time. Today it is over 18,000.
    And by 2008 in was going down to hit 6440. The fed stepped in that no one could have predicted and now with that intervention it is artificially high.
    Pfizer Macht Frei!

    Openly Straight Man, Danke, Awarded Top Rated Influencer. Community Standards Enforcer.


    Quiz: Test Your "Income" Tax IQ!

    Short Income Tax Video

    The Income Tax Is An Excise, And Excise Taxes Are Privilege Taxes

    The Federalist Papers, No. 15:

    Except as to the rule of appointment, the United States have an indefinite discretion to make requisitions for men and money; but they have no authority to raise either by regulations extending to the individual citizens of America.

Page 1 of 4 123 ... LastLast


Similar Threads

  1. Replies: 0
    Last Post: 07-11-2015, 02:07 PM
  2. Replies: 20
    Last Post: 12-30-2014, 07:18 PM
  3. Replies: 6
    Last Post: 12-29-2010, 12:56 PM
  4. Peter Schiff VB - Gold, dollar, oil, jobs, deficits
    By JackieDan in forum Economy & Markets
    Replies: 3
    Last Post: 12-03-2010, 06:53 PM
  5. Replies: 11
    Last Post: 12-20-2008, 02:51 AM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •