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Thread: Peter Schiff: Betting Against The System

  1. #1

    Peter Schiff: Betting Against The System

    This is a great interview with Schiff (42 mins long).

    He covers the following topics:

    Growing up, Irwin Schiff (his father), IRS, Austrian economics, monetary policy, dot com bubble, housing bubble, gold stocks & the dollar.

    https://radio.foxnews.com/2020/02/19...st-the-system/



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  3. #2
    Schiff is controlled opposition. How to make sure libertarians lose all the money and become powerless. $#@! this dude.

  4. #3
    My favorite coloring book - How an Economy Grows and Why It Crashes
    https://en.wikipedia.org/wiki/How_an...Why_It_Crashes

  5. #4
    Quote Originally Posted by timosman View Post
    Schiff is controlled opposition. How to make sure libertarians lose all the money and become powerless. $#@! this dude.
    All he does is apply Austrian economics to the present day and he makes a good living doing it.

  6. #5
    Quote Originally Posted by Warlord View Post
    All he does is apply Austrian economics to the present day and he makes a good living doing it.
    Thanks to a steady supply of morons who trust him with their funds. Don't ask me how I know.

  7. #6
    Quote Originally Posted by timosman View Post
    Thanks to a steady supply of morons who trust him with their funds. Don't ask me how I know.
    He has helped numerous people to get out of the dollar and numerous people to avert the crash in 08

  8. #7
    I would prefer investing with Ray Dalio.

  9. #8
    Quote Originally Posted by timosman View Post
    I would prefer investing with Ray Dalio.
    Well that's your choice but don't try and trash his reputation.



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  11. #9
    Quote Originally Posted by Warlord View Post
    He has helped numerous people to get out of the dollar and numerous people to avert the crash in 08
    That was 12 years ago. Did he use the cash to help Ron? Ron should have been swimming in cash and even Jesse should have not been able to derail grandpa Ron.

  12. #10
    Quote Originally Posted by timosman View Post
    That was 12 years ago. Did he use the cash to help Ron? Ron should have been swimming in cash and even Jesse should have not been able to derail grandpa Ron.
    Peter Schiff was Ron's economic adviser. He was one of his first policy experts.

  13. #11
    Quote Originally Posted by timosman View Post
    I would prefer investing with Ray Dalio.
    I was more invested with his dad , Marino Dollolio .

  14. #12

    🔴QE won't cure the coronavirus or the economy - Ep 533

    Feb 18, 2020

    - Coronavirus may be worse than anyone thought, but why aren’t the markets worried?
    - Gold mining stocks looking positive again.
    - Underlying weakness in the dollar being revealed in gold.
    - Obama and Trump are fighting over a booming economy that doesn’t exist.
    - 1/3rd of Americans run out of money between paychecks.
    - Over 25% of households spend half or more of their income on rent.
    - Delinquencies on auto-loans are higher now than they were at the worst part of the great recession.
    - Bernie Sanders has an advantage over Michael Bloomberg.
    - Art Laffer cheerleads Trump on Fox Business.
    - Trump nominates ass-kissing liar to the Fed.
    Quote Originally Posted by Swordsmyth View Post
    You only show up to attack Trump when he is wrong
    DACA S**thole Dreamers - Make America Great Again?

  15. #13
    Quote Originally Posted by Warlord View Post
    Peter Schiff was Ron's economic adviser. He was one of his first policy experts.
    Another schmuck who betrayed Ron.

  16. #14
    Quote Originally Posted by RonZeplin View Post
    ��QE won't cure the coronavirus or the economy - Ep 533

    Feb 18, 2020

    - Coronavirus may be worse than anyone thought, but why aren’t the markets worried?
    - Gold mining stocks looking positive again.
    - Underlying weakness in the dollar being revealed in gold.
    - Obama and Trump are fighting over a booming economy that doesn’t exist.
    - 1/3rd of Americans run out of money between paychecks.
    - Over 25% of households spend half or more of their income on rent.
    - Delinquencies on auto-loans are higher now than they were at the worst part of the great recession.
    - Bernie Sanders has an advantage over Michael Bloomberg.
    - Art Laffer cheerleads Trump on Fox Business.
    - Trump nominates ass-kissing liar to the Fed.
    Whatever Peter. How much money did you make in the last 10 years?

  17. #15
    Quote Originally Posted by timosman View Post
    Whatever Peter. How much money did you make in the last 10 years?
    Enough to make you green with envy?
    Quote Originally Posted by Swordsmyth View Post
    You only show up to attack Trump when he is wrong
    DACA S**thole Dreamers - Make America Great Again?

  18. #16
    Quote Originally Posted by Warlord View Post
    All he does is apply Austrian economics to the present day and he makes a good living doing it.
    His funds have very high costs and fees compared to similar funds. And their returns aren't any better. Schiff has predicted thirty of the last three recessions. He relies on scaring people that things are going to collapse and he can protect them as his sales tactic- unfortunately his funds did poorly during the last recession (worse than many).

    Hyperinflation and $5,000 gold just around the corner! Recession far worse than the Great Recession coming to you soon! As early as 2008! 2009! 2010!.....
    Last edited by Zippyjuan; 02-20-2020 at 11:29 AM.



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  20. #17
    Quote Originally Posted by RonZeplin View Post

    ��QE won't cure the coronavirus or the economy - Ep 533

    Feb 18, 2020

    - Coronavirus may be worse than anyone thought, but why aren’t the markets worried?
    - Gold mining stocks looking positive again.
    - Underlying weakness in the dollar being revealed in gold.
    - Obama and Trump are fighting over a booming economy that doesn’t exist.
    - 1/3rd of Americans run out of money between paychecks.
    - Over 25% of households spend half or more of their income on rent.
    - Delinquencies on auto-loans are higher now than they were at the worst part of the great recession.
    - Bernie Sanders has an advantage over Michael Bloomberg.
    - Art Laffer cheerleads Trump on Fox Business.
    - Trump nominates ass-kissing liar to the Fed.
    There is an elephant in the room that is not on that list. At the beginning of this current bull market cycle, there were record amounts of cash on the sidelines. We have now reached the point where the cash on the sidelines is at record lows.

    Pyramid schemes and manias are based on the next, bigger sucker, and they collapse when there are no more buyers. This is when the big insiders start to sell. Eventually it will turn into automated and panic selling.
    "Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
    "Beware the Military-Industrial-Financial-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
    "Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
    "Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul
    They are what they hate.” - B4L


    The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.

  21. #18
    Quote Originally Posted by timosman View Post
    That was 12 years ago. Did he use the cash to help Ron? Ron should have been swimming in cash and even Jesse should have not been able to derail grandpa Ron.
    He ran for Senate at the same time as Rand, but in CT. He lost tho. If he won he would be Rand's right hand dude in the Senate.

    Nothing wrong with running an investment firm based on Austrian Economic principles. He has made people plenty of money. There were some people that got in at the wrong time and lost some temporarily, but they were impatient. It was a longterm investment strategy.
    "He's talkin' to his gut like it's a person!!" -me
    "dumpster diving isn't professional." - angelatc
    "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."

  22. #19
    Quote Originally Posted by Brian4Liberty View Post
    There is an elephant in the room that is not on that list. At the beginning of this current bull market cycle, there were record amounts of cash on the sidelines. We have now reached the point where the cash on the sidelines is at record lows.

    Pyramid schemes and manias are based on the next, bigger sucker, and they collapse when there are no more buyers. This is when the big insiders start to sell. Eventually it will turn into automated and panic selling.
    We are definitely in a mania phase with regards to the stock market and consumer confidence. See Tesla for a classic example. Also Schiff points out that corporate earnings were down in 2019 while the market was up 30%. This is a classic example of a massive bubble.



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