11/20/2008 Peter Schiff On Fast Money - "The Man Who Called The Collapse"

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Update: 12/17/08: ... ( 3 weeks ago by chunstiger)

Update: 12/17/08: Dollar Falls Most Against Euro Since 1999 Debut After Fed Cut

Yes I know what ... ( 2 weeks ago by john5246)

Yes I know what being "long" means. Do you? A Long position is when you buy expecting to profit from an increase in price. The dollar has been gaining strength so he is long to try and profit from it. I am buying gold and am shorting the dollar for the long term (not on leverage) through etrade.

Array ( 2 weeks ago by colacocala)

Jeff4Prez
fvck MacObama

What the hell are ... ( 2 weeks ago by sianghan)

What the hell are you talking about? Gold has been deemed a store of value for 6000 years, ever since the start of civilisation. You got it backwards, gold has real value, fiat money doesn't.

LOL... Peter Schiff ... ( 2 weeks ago by jehnubis)

LOL... Peter Schiff just PWNED the shit outta these muthafukers!

LAWL at Winnie the ... ( 2 weeks ago by MooseOfReason)

LAWL at Winnie the Pooh at 1:07.
What the heck?

3 weeks later, gold ... ( 2 weeks ago by kikkoman1231)

3 weeks later, gold is sitting now at more than $850/oz. With the new bailout pending on the auto market, gold will trade higher in the coming months.
top that with obama's foreign policy of sending troops to afghanistan, as opposed to a recall that he subsequently rallied for, americans will have to borrow more from developing from other economies.
obama is now considering a tax cut for small businesses so they can operate, but customers won't come b/c saving is rising exponentially...

Peter Schiff is a ... ( 2 weeks ago by WhitePlayer1)

Peter Schiff is a negative prick. How many times does he repeat himself??? Its sucks that people want to see this guy spell his negatively.just so CNBC get ratings. Theres some dump prick on youtube that does the same thing. I think his called (visionvictory) he is as dumb as this guy

Peter Schiff is NOT ... ( 1 week ago by shaunzane)

Peter Schiff is NOT a "negative prick". He is an economist who is able to put aside any unreasonable patriotism in order to make an objective analysis (unlike Jeff Macke). If only the USA could stop viewing the political landscape as "US vs. the World" then progress can be made. It is a simple equation. Imports > Exports = Trade Deficit. Government Spending > Tax revenue = Budget Deficit. All this leads to increased national debt. How can a country run Deficits forever?
It can't.

All your bills will ... ( 1 week ago by noraklagrangian)

All your bills will be affected. When the dollar collapses it means that everything will be more expensive to buy. Imagine a loaf of bread costing US$2000 or something, not because bread is expensive but because the US dollar is cheap.

When he claimed ... ( 1 week ago by noraklagrangian)

When he claimed that tech stocks were going to go down, they continued to go up. Does that mean Peter was wrong? No, because eventually tech stocks did go down.

LOL.....damn..... ... ( 1 week ago by Jacobrester)

LOL.....damn.....the nature of the stock market is cyclical...if you dont put time restraints on peoples predictions.....everyone would be 100% correct...it did not happen when Mr. Schiff said it would...and it has not happened yet

I like how Peter is ... ( 1 week ago by atheistnarnia)

I like how Peter is the only one standing; like a teacher and his students.

When did Schiff say ... ( 1 week ago by noraklagrangian)

When did Schiff say the US dollar was going to collapse? I never heard him give a precise date.

Back in summer ... ( 1 week ago by Jacobrester)

Back in summer interviews in 2008, he said many times that the dollar would collapse by October 2008. He said commodities would skyrocket because of this collapse and he said gold would move much higher.
He was wrong on all counts.

I'd like to be open ... ( 1 week ago by noraklagrangian)

I'd like to be open minded about this because my money is at stake. Now what is wrong with Schiff's reasoning? He is arguing that in order to stimulate the economy the government will print money. Printing money creates inflation. Government cannot print gold, so gold will be stable, but relative to fiat currency it will rocket. Clearly in the market humans can be irrational, but how else can we invest other than looking at the fundamentals? Where have you invested?

Don't misunderstand ... ( 1 week ago by Jacobrester)

Don't misunderstand me, Mr. Schiff is a very intelligent man. I do not disagree with him on everything. Gold is one area where I definitely disagree with him.
Mr. Schiff also advocates solid companies with generous dividends. That is where I put my money. I have been doing this for over 3 years, I just happen to know that Schiff is a dividend junkie, and so am I.
I am currently invested in:
PWE
IWA
BPT
ED

Just keep in mind. ... ( 1 week ago by Jacobrester)

Just keep in mind. I DO invest my own money. I am not a nutjob on Youtube calling for the collapse of the USA because I am eaten up with envy.
Here are some other strong companies with solid dividend you MIGHT consider:
KMP
PFE
ETP
GXP
Basically, in my opinion, stay away from Financials, Real Estate and any stock driven by retail sales.

Many of those ... ( 1 week ago by noraklagrangian)

Many of those stocks seem to be the sorts of things Schiff would invest in, that is, energy, utilities, etc. Many of them have fallen in price recently.
What's wrong with gold? Schiff tries to get people to buy gold from the Perth Mint. Gold is probably the only asset that has gone up in the last five years.

When Schiff ... ( 1 week ago by Jacobrester)

When Schiff recommended gold back in June 2008, it was sitting at $950/ounce. It is now sitting at around $850/ounce. He also recommended positioning yourself in commodity stocks. They took a beating.
It is my personal belief that oil is not going to go too much lower than $35/barrel.
I will say it again. Gold at these entry prices is for suckers.

Peter is the master ... ( 1 week ago by mangathebeautiful)

Peter is the master and the rest are the servants waiting to hear the truth

You're wrong, ... ( 1 week ago by cannuckistan)

You're wrong, Jacobrester. Schiff's understanding of economics is completely sound. If you want to read a primer on this crisis, check out 'The Dollar Crisis' by Peter Duncan. Foreigners won't accumulate claims on your assets indefinitely...they'll eventually want real goods in exchange for the stuff they send your way. It's just a matter of 'when' not 'if' they cut you off from their savings.

Dude....they have ... ( 1 week ago by Jacobrester)

Dude....they have been saying that for the past 30 years. And I can show you "Expert" financial analysis who say the crisis is not nearly as bad as Mr. Schiff is making it out to be. I do not dislike Mr. Schiff, I just think he is an alamrist.
This crisis will end up somewhere between worst case scenario and nothing happening at all. They always do.

Holy shit, it's the ... ( 3 days ago by Calliber50)

Holy shit, it's the Al Gore of economy!

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