http://www.youtube.com/watch?v=D0IQL8Hnj44
Schiff 2002 - 2009. Pretty cool.
http://www.youtube.com/watch?v=zdVP_sgCETo
Schiff on John Stewart
- Thread starter buster
- Start date
This dude nailed it.
Whats so sad is that he wasnt talking "crazy talk" and having a highly intellectual debate he was just stating common sense.
Of all the networks FOX ran there mouths and mocked him the most. Wrote him off as a lunatic.
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While he's surely counter culture, ..and that's surely refreshing - albeit way too late, he's also selling his own way for you to "beat the bill" as a sub text. Someone always has to pay it.
Originally Posted By: Billy007
I read his book, he did a pretty good job analyzing what went wrong. But his advice on how to profit from this mess is shaky at best.
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From the Inside Flap
…he also outlines a specific three-step plan that will allow you to preserve wealth and protect the purchasing power of the savings you have worked a lifetime to accumulate.
Step #1: Rethinking Your Stock Portfolio: shows you exactly how to replace your endangered U.S. dollar holdings with a portfolio of foreign securities that are safer, significantly higher yielding, and appropriate for any investment objectives
Step #2: Gold Rush: examines the various ways you can capitalize on the bull market in gold, as well as silver, and explains how these precious metals can add both safety and exciting growth potential to a conservative foreign stock portfolio
Step #3: Stay Liquid: discusses the importance of liquidity in times of financial uncertainty—from having enough money for living expenses to keeping a reserve of uncommitted cash that can be used to acquire assets at bargain prices
Investing using conventional wisdom will not work during times of financial distress. That's why Crash Proof has taken the reality of today's economic situation into account as it offers you guidance. Filled with in-depth insights and expert advice, Crash Proof will help you survive and thrive during the coming years of economic uncertainty.
If you read his book when it was published in February of 2007, his advice for his readers was to take a home equity loan to leverage your overvalued home equity in other international currencies or good dividend paying foreign equities.
You gotta take his advice with a grain of salt, he owns Euro Pacific Capital and was the economic adviser to Ron Paul.Step #3: Stay Liquid: discusses the importance of liquidity in times of financial uncertainty—from having enough money for living expenses to keeping a reserve of uncommitted cash that can be used to acquire assets at bargain prices
This is the safest way to build wealth, imo. You cherry pick slam dunks ..like something like XOM taking a $5/shhare hit when they got the bill for the Valdez (I think $5B). It rebounded in a very short time.
It requires patience and the need to control the impulse to grab at the plate of bacon in constant tweaking of your portfolio.
It's JUST like going to the casino. No one stops when they hit a decent take. They keep thinking that they can always get more.
I don't think Schiff is a genius or smarter than anyone else. He is basically preaching that savings are important and we need to start producing more. Need to re-think think our economic system. Nothing new, just a bit more radical and less mainstream. We are used to being stuck in the same mode year after year. Economics doesn't have to be that complex, or does it?
Schiff certainly has an agenda, but it's based on his understanding or view of the situation. I hope he is wrong about the hyper-inflation threat. I think even he said that is a worst case scenario. He could very well be wrong but so far he hasn't been.
The arrogance that all of these network clowns showed over the years is hilarious now. They look like fools.
Gary, you seem to share Keynes view:
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The long run is a misleading guide to current affairs. In the long run we are all dead. Economists set themselves too easy, too useless a task if in tempestuous seasons they can only tell us that when the storm is past the ocean is flat again.
Notice how Stewart ignores Schiff's condemnation of Obama. To agree with Schiff you also have to acknowledge that Obama is as clueless as the rest and has only made things worse by continuing to dig the hole deeper.
Buster is Schiff's P.R. department.
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I hope he is wrong about the hyper-inflation threat.
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Gary, you seem to share Keynes view:
I think that promoting ways to operate a defective piece of machinery will never result in success.
Then again, one must define success. I know how I define functional. Originally Posted By: GROUCHO MARX
Buster is Schiff's P.R. department.
How about this Buster. Put your money where your mouth is. Invest with Schiff! I think the guy makes a lot of excellent points, but would I trust my money with him?
Well, he can't hardly do any worse then 95% of other financial institutions and their products...
Well, he can't hardly do any worse then 95% of other financial institutions and their products...http://www.freerepublic.com/focus/news/2172975/posts
http://www.usnews.com/blogs/the-ticker/2...-investing.html
A little old, but you get the point!
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and were riding the wave of what they thought was a sound economy.
Drew, I did open an account with his firm but have yet to fund it. LOL.
He already addressed those issues, including Mish. The dollar gained more than he thought but more importantly, Schiff's strategy is LONG TERM.
Some of his clients didn't do well in 2008, but that doesn't mean his LR strategy is flawed.
Fact of the matter is when everyone else thought the Bush economy was sound, Schiff was saying no it's not.
Originally Posted By: Gary Allan
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and were riding the wave of what they thought was a sound economy.
Originally Posted By: buster
Fact of the matter is when everyone else thought the Bush economy was sound, Schiff was saying no it's not.
What I don't get is if Schiff's long term prediction is a dollar worth nothing and total decoupling of the US economy, a better long term investment would be fully automatic weapons, lots and lots of ammunition, the knowledge of how to grow food, and the knowledge of how to purify water! He is. I think that since he was the only guy to see the elephant in the room, or at least admit to its existence, he's now got to pull another rabbit out of a hat.
It's hard to resist that spotlight once its on you.
