* These Idiots Just Put Peter Schiff On TV Again! * And THE SKY IS FALLING
DriftingByTheStorm
Posts: 8,684
Ugh.
OMG.
What fucking MORON at CNBC thought it would be a smart bet to have Peter Schiff back on TV? [i mean, come on, even if the previous interviews weren't enough of a clue, you think "econmic advisor to Ron Paul" may have done the trick]
THIS IS FUCKING BRUTAL.
You guys HAVE to see this "interview" on Fast Money as soon as it hits the net.
Things he is saying
(and i am pissed as hell because i just missed half of it myself, because my roommate left his truck interior light on, and the neighbor rang my doorbell):
1. Dollar Rally is dead cat bounce. DOLLAR IS DEAD!
2. World learned a hard lesson, you can't lend to America
3. US Government insolvent
4. Gold to $2000 an ounce
5. DEEP Recession, Markets Going DOWN, things very bad
I don't know ... it was fucking brutal.
One guy even says, "So other than that Mr. Lincoln, how did you like the play?"
And ALL of them looked like they were going to pee their pants.
That "oh shit, this is going to be all over youtube" look.
Yeah.
Argh.
I hate that feeling when you know for sure that you are NOT crazy,
and that it IS that fucked up.
There is now a chart of the S&P on their screen, with two circles and "DOUBLE TOP" written on it. And this lady is saying we are BREAKNIG THE NECK (a technical trading term, where after two tops, a line is drawn through "the neck") and that we have "A HECK OF A DROP" ahead.
I think this lady just said the S&P could go to 400 !?!
Holy shit.
"Everything is going down."
OMG.
What fucking MORON at CNBC thought it would be a smart bet to have Peter Schiff back on TV? [i mean, come on, even if the previous interviews weren't enough of a clue, you think "econmic advisor to Ron Paul" may have done the trick]
THIS IS FUCKING BRUTAL.
You guys HAVE to see this "interview" on Fast Money as soon as it hits the net.
Things he is saying
(and i am pissed as hell because i just missed half of it myself, because my roommate left his truck interior light on, and the neighbor rang my doorbell):
1. Dollar Rally is dead cat bounce. DOLLAR IS DEAD!
2. World learned a hard lesson, you can't lend to America
3. US Government insolvent
4. Gold to $2000 an ounce
5. DEEP Recession, Markets Going DOWN, things very bad
I don't know ... it was fucking brutal.
One guy even says, "So other than that Mr. Lincoln, how did you like the play?"
And ALL of them looked like they were going to pee their pants.
That "oh shit, this is going to be all over youtube" look.
Yeah.
Argh.
I hate that feeling when you know for sure that you are NOT crazy,
and that it IS that fucked up.
There is now a chart of the S&P on their screen, with two circles and "DOUBLE TOP" written on it. And this lady is saying we are BREAKNIG THE NECK (a technical trading term, where after two tops, a line is drawn through "the neck") and that we have "A HECK OF A DROP" ahead.
I think this lady just said the S&P could go to 400 !?!
Holy shit.
"Everything is going down."
If I was to smile and I held out my hand
If I opened it now would you not understand?
If I opened it now would you not understand?
Post edited by Unknown User on
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Comments
Actually caught this live (working from home today).
I wonder how long it took them to come up with "beguiling" in regards to "gold bugs". Too bad it was after he left the stage heh.
Peter, GREAT TO HAVE YOU WITH US!
THE VIDEO IS UP!!!!!!!!!!!!!
If I opened it now would you not understand?
I think gold is a waste of time. Cattle will be the true king.... no... seriously.
Cattle.... and/or land.
Just be weary that it could go down first.
Schiff doesn't give a fuck, because like he said, he isn't giving "short term advice", and more importantly he has been buying gold since before it even hit $300.
But i'm just here to say, i own gold, i still believe that when currencies tear apart, it WILL have real value ... and it WILL inflate based on the defaulting currency's relative devaluation ...
but ALSO just know that in an already deflationary environment, as banks and institutions get harder pressed for CASH to meet obligations, they will SELL gold, and even worse, as CENTRAL banks begin to feel pressure, THEY will sell gold ... in massive quantities.
I will hold my positions regardless, but it is a definate possibility.
I still think Schiff is right, in the end, if and as the dollar dies, gold will rise.
And eekamouse,
sure food stores will always hold value in a crisis,
but there is more "real" wealth in the world than can be stored in cattle,
so it will have to find a more weight efficient and readily available place to park ... and gold is that answer. [currently it is Tbills, but that market stands to get fucked hard, if we hit a deflationary spiral]
If I opened it now would you not understand?
??
If I opened it now would you not understand?
thanks for te info
That is because those people are idiots. They know nothing. Not everyone is like the people you are talking about above. Some out there during the boom when stocks were 14,000 were thinking it would go to 7,500, and some where saying oil was going to $50-60 a barrell. Those are the people we should listen to, and those are the people that are marginalized in the media as being paranoid.
That website is pretty sweet.
so dont think he is invincible.
So you just buy a gold coin from the website and they send it to you? You just hold onto it a safety deposit box? Just curious.
He addressed that in the video referenced in the OP.
He said specificaly, "I'M NOT GIVING SHORT TERM TRADING ADVICE"!
Like he said, gold has depreciated LESS than ANY other asset class from the top.
And unlike the equities, which basicaly fail to even out pace inflation over the decade,
gold has looked like a champion.
So you can't come crying to hard.
And if you aren't an idiot, and you SIT on your gold, instead of selling it back at a loss right now, you'll be holding on to one giant golden parachute when this whole thing comes crashing down again in a few months.
yes.
they send you your purchase insured (its actually really cheap, like less than $50 for about $10,000 in metal) and then you do what you please with it.
Yeah, you could bury it in your back yard if you don't want to leave it at the bank. I prefer a home safe, because honestly, i really don't want it anywhere NEAR a bank. If you are buying hundreds of thousands worth, you could consider paying for storage though. Even the exchanges will keep it for you for a fee.
If I opened it now would you not understand?
of course he's going to say that. lol he was wrong. do you think he thought gold was going to 1000 to 2000? or 1000 to 700 to 2000? he thought gold would go straight up from 1000. he was wrong. could it go up from here? it could. but it might not. the first time you think something will go in a direction with 100% certainty is the time when you better get out of the investing business. nothing is 100%
With all due respect, i don't think Peter Schiff needs to even contemplate getting out of the investment business.
I think he is doing just fine.
I don't think we really need to sit here and debate this.
If your time frame is so narrow that it only includes the nearest 4 months or so, sure Schiff was wrong.
If you listen to what the man is saying though, he CLEARLY still believes gold is going higher. Much higher.
If you have ANY common sense, you should be able to understand the logic there. During the last "major freak out" which started in earnest around October, gold went through the moon, just missing a full doubling of price.
When it pulls back 25% you come screaming the guy is "wrong".
But wait until the next "major freak out", which could likely be the last freak out you see the market do before it just straight gets closed down for a while. Mr. Bull Goes on Bank Holiday, so to speak ...
if\when THAT happens, you will see gold go through the stratosphere.
Making $2000 look like a bargain.
But go ahead, say he is "wrong", because of a blip on the screen.
Lets just say, I am not going to be selling off any of my gold position, even if it goes back to $500 first. Because the smart money is on gold having a mega rebound.
For shits and giggles, where do you see this market going by next summer?
Are you in the "full recovery" or "back on the road to glory by Spring" camp?
If I opened it now would you not understand?
4 months isnt narrow for many. (thats 4 months and counting btw) hell even 4 minutes isnt narrow for me lol. I'm just saying he was wrong in his thinking gold was going straight up from 1000. and secondly calm down, you make it seem like I was insulting your dad. I like Schiff, I think he made some excellent calls in 06 & 07. that doesnt mean he is infallible.
I see the market going down more from here retesting the lows to maybe 7000 area. then I see it in a range from 7000-10000 for the next 2-3 years. I also see some weakness in the dollar and rally in gold but not as much as Schiff. keep in mind, the rest of the world is FUCKED too. this isnt just a US problem. and I havent heard one person, even the most bullish of people, say anything about a "full recovery" anytime soon. so I dont know where you are getting that bullshit from.
Technical difficulties at CNN, or WHAT?
:rolleyes:
Tip to John Q. Public:
The Federal Reserve CAN'T let Citibank \ JP Morgan Chase \ BoA fail!
THOSE BANKS ARE THE CREDIT BEHIND THE FEDERAL RESERVE.
You THINK the Fed guarantees the Banks,
but those banks are THE SHARE HOLDERS OF THE FED.
If THEY Fail, The Fed HAS NO CREDIT STANDING!
If I opened it now would you not understand?
Watch it!
Guest on CNBC, with a MAJOR accent.
Funny on the face.
Not to mention his faux-whisper comment to maria
"We've Got A Depression"
!
If I opened it now would you not understand?
Help
because it is CNBC.
Keep watching.
If I opened it now would you not understand?
How often do you see abrupt vertical color bars on any CNN broadcast...like ever?
Looks like someone fell asleep at the wheel for a few minutes for that to slip out.
I wonder what they played afterwards for damage recovery?
anyhow fuck this noise...I'm going back to my plate of hay..
and reveling in it's loyalty. It's made by forming coalitions
over specific principles, goals, and policies.
http://i36.tinypic.com/66j31x.jpg
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