The next time you see any of these "experts" on TV, please remember this video. I find myself constantly marveling at how self-evident Peter's predictions are to anyone that understands Austrian economics and what "money" actually is.
Posted 11/12/08 11:21 AM Seantzizl Independence, MO
I just bought this guys book. So far its pretty amazing, and I think everybody should pick up a copy.
Posted 11/12/08 11:36 AM NWStudent83 Greenwood, MO
The book is definitely worth the read. There are several excellent tips in there for how to secure your money. If I had the extra money to invest I'd have no problems putting it in Peter's hands through Euro-Pacific.
He's amazing. People who don't understand austrian free market economics must think Peter is a fortune teller. He is not ladies and gentlemen. He was mocked by those clowns and now he stands as a genius, while those clowns are nowhere to be found. I forgot how cavuto used to be a joke as well, i'm glad he is starting to see the errors of his way. Austrian free market economics 1- Pro-Fiat kenyesian economist 0!!!
WOW!!! prescient indeed. i love that neil cavuto laughed at peter schiff, but completely extolls ron paul almost sycophantically. are you guys referring to 'crash proof' or 'the little book of bull moves...?'
The shear ignorance of these "experts" shows the true nature of denial for not only the American public but the current and most recent Republican views. Sad thing is for the Rep party they are a day late and dollar short on listening to Dr. Paul. When they could've captured the chance to shine they squandered it on the same failed BS!
I wonder if those so-called experts are still laughing at Mr. Schiff's spot-on analysis today ...
I wish it were funny that Mr. Schiff was the only person on those segments who could see how fundamentally unsound the financial markets were. Just like Dr. Paul was the only presidential candidate who identified the monetary problems in the U.S.
Unfortunately, both of these great men adhere to a completely ignored and esoteric economic philosophy called the Austrian School of Economics -- and one of them is laughed at on cable news, while the other is chased out of a political party.
To all of the so-called experts out there: You can ridicule and mock the Austrians all you like, if that makes you fit in with the mainstream economists. But reality has a funny way of breaking through the facade. Ignore the Austrians to the detriment of your credibility.
Posted 11/12/08 12:04 PM NWStudent83 Greenwood, MO
I figured I’d do a quick rundown on the predictions of the people mocking Schiff in the video to save anyone else that might look up the current prices some time.
DOW to 16,000 within a year, almost a year later it’s currently 8,358.64.
Merril Lynch - 76.04 at the time. Currently worth around $14 a share. Good call Ben Stein! I wonder if he has any money left to win.
Goldman Sachs – 175 at the time. Currently worth around $68 a share. Another huge loser.
Bear Stearns - No info in the video on the price. At least the guy recommending it warned about the risk.
Washington Mutual – Another bad call, but with a warning again.
Posted 11/12/08 12:16 PM sweetliberty San Rafael, CA
This is just a marvelous video. Let's try and get this as many views as we can. Peter deserves it.
Posted 11/12/08 12:20 PM JohnDevilman Los Angeles, CA
Like NWStudent83, I wish I made more money so that I could have this man invest my money. As is, I'm feeling the serious blowback from the economy those other braggart clowns sung was not failing.
Well that video is full of gems. Hey, can I still get my hands on some of that sizzling WaMu stock? That guy said it's gonna be one of the hot picks for 2008, lol...I wonder if he's still waiting for the Dow to hit 16k. You can stop holding your breath, champ.
Thanks for the vid link. I sent it out to most of my contact list. I will have to check out his Crash Proof book but my library is really getting full with Rothbard, Paul, Griffin, Thomas, etc...:)
Posted 11/12/08 12:36 PM JamesButabi Pawtucket, RI
Awesome video. Great little piece of firepower for campaigning!
Posted 11/12/08 1:15 PM BruceKoerber Cedar Rapids, IA
Who's Laffering now?
I wonder if these 'financial analysts' are subject to class action suits since a lot of people have lost a lot of money because of their attempts to cover up the scandalous outcomes of the counterfeit operation that is supplying the unConstitutional coup with its sustenance.
This is a great post. Thanks!
I'm sharing it with some bailout type supporters; will be interested on their feedback.
Posted 11/12/08 1:39 PM Seantzizl Independence, MO
The television business analyst are still laughing at him, sadly enough. For anybody who is interested, I posted two more videos that are fairly recent on my blog here.
http://www.campaignforliberty.com/blog.php?view=4116
Buying "GLD" at $83/share or whatever he said in the video didn't take into account the massive deleveraging and deflation we're seeing. It's $70/share now. Sure, it'll eventually go up due to the Fed's inflation of today, but there's a powerful deflation in the short term (who knows how short) where we see falling house prices, energy prices, etc., as the global recession deepens and no one wants to borrow no matter how low the interest rate is.
I don't doubt gold will go up to $2000 as people say, but it might not be for a while. And, even if it does go way up in a year or two, you'd probably be afraid to sell it at the right time.
But, to preserve wealth, gold is a good bet. Trying to time your buying/selling to make money off of it might not work as well.
Posted 11/12/08 1:51 PM Michael Salvi Elkins Park, PA
damnit andrew, you took my joke. i hope that guy mailed him his penny and signed the letter of apology admitting HE was wrong. so yea ben stein is officially an idiot. anyone disagree? anyone...anyone? something d-o-o economics...DOO-DOO economics!
Peter nails it time after time and all these numbskulls can do is giggle through his commentary. They should have been sitting quietly taking notes. Boorish assholes.
Posted 11/12/08 2:03 PM Michael Salvi Elkins Park, PA
right on larry, i felt like i was in a bad dream watching them laugh
He's a classy guy to sit through all of their laughing and not snap. He just calmly asserts that he is correct.
Too bad this country has such a short memory. We should be trusting the people who actually got their predictions right, not following those who screwed it up in the first place.
I don't know what it is about these "Schiff was right" videos but I NEVER get tired of watching them... kinda like those high speed police chase videos.
In case you guys like Schiff, you should hear his latest radio show and consider an exit from USD assets. If he continues to be right, this problem is about to hit Main Street a lot harder.
http://www.youtube.com/watch?v=7ddy1Dkptw0
There are six parts total and all are worth listening to.
This is also truly amazing. Apparently the world's central bank have stopped accumulating dollar paper reserves. I wonder what this bodes for the economy or what big thing is brewing.
Seantzizl and NWStudent83, when you refered to his book, which one were you talking about? I believe he wrote a couple and I was thinking about picking one up. What would you recommend?
I love how Goldman Sachs was recommended by those idiots... its all the way down to $66 per share... compared to the old 52 week low of 145... there advice would of only lost people only somewhere around 2/3rds of the money invested... If I ever invest I'm calling peter schiff...
That was good. I just wish I could watch all of those guys have to sit and watch the video and then try to explain themselves. Oh, that would be classic.
Holy Toledo, Batman. This guy Peter Schiff really nails it. He was calm when express his predictions and these pundits were laughing it up at him. Who has egg on their face, now.
I saw this quote on my freedom calendar and I thought it was appropriate:
"The most sublime spectacle in the world, is a powerful mind vindicating truth in the presence of its foes, and a martyr calmly sealing his faith with his blood."
Posted 11/13/08 08:05 AM Daggerhart Kernersville, NC
Absolutely brilliant! I love the "bet"
Posted 11/13/08 08:11 AM Jake Mabus Springfield, IL
The problem is that we are now in to 3-4 generations of the education system teaching economics based on fractional reserve banking. That's why you see so many pompous idiots touting what the think they know. I'm sure they've heard of fractional reserve banking but have probably never studied it! You see, economic degrees today are a JOKE! They need to concentrate on economic philosophy. With a heavy dose of Austrian Theory!
For anyone interested Peter has a hourly, weekly radio broadcast live every Wednesday night at 8 PM EST. Every weeks show is archived so you can stream past weeks editions any time. Really great stuff.
The weekly radio broadcast page can be reached at this link: http://www.europac.net/radioshow_archives.asp
Posted 11/13/08 08:49 AM ammorris Reynoldsburg, OH
Oops! Turns out the sky actually was falling.
Posted 11/13/08 08:50 AM oatriumph Midwest City, OK
They laugh because they know. They were probably filling their portfolios with gold as they were being bullish. These people are shills and slaves. And they are probably still laughing, on yachts sipping champagne having sex with prostitutes.
You are correct about the educational system. These generations have been brainwashed! I remember learning in history class that The Great Depression was caused by Pres. Hoover's failure to act quickly and fix the economy. Now that I've learned the real history that it was the federal reserve and government meddling that caused it, it angers me. History has been re-written the way the powers-that-be see it fit.
Posted 11/13/08 09:15 AM oatriumph Midwest City, OK
The man who reads nothing at all is better educated than the man who reads nothing but newspapers. -Jefferson Or in this case, television news.
"the same function has been rightly expressed in modern government by placing with the representatives elected by the people on short tenure the power of the purse... The effective veto was thus exercised, as it should be, by negation, withholding supplies. When unlimited supplies are voted automatically in unapportioned lump sums, it is obvious that the function of mass, the stabilizing element, is no longer included in government..." -isabel paterson
I liked the response " I'll bet you alot more than a penny" right at the end of the segment with Laffer. I spent a little time looking these guys up and you can find Mike Norman at Bizradio along with a link to buy Laffer's book "The End of Prosperity".(lol). I'll bet you a penny it's selling as well as his assertion that the economy has never been in better shape.
Posted 11/13/08 4:40 PM CoolHandLuke Bloomingdale, IL
Man! That was like watching a debate with Ron Paul in it. That guy is a looney too. I know I am going to invest in WAMU, It is a deal right now! Oh wait...
Watched that video posted by Jake Mabus of the Bill Mahr show. Still never really admitted he was officially wrong and kinda shrunk in his suit when the topic was brought up. Will never have respect for him until he apologizes to Schiff, we need to hold people to there words these days. Many unfortunately talk out of both sides of there mouth... Open mouth insert foot.
Posted 11/14/08 07:34 AM SomeFunkyDude Coral Springs, FL
Wow, great video, I'll definitely have to remember this guy for future analysis/investments. Thanks for putting it together whoever did. The whole situation is unfortunate, but I think its funny that all these smug 'experts' propped up the failing market as something great to invest in. The one guy that recommended WM at $13, its at .16 now!
Posted 11/14/08 09:01 AM Michael Salvi Elkins Park, PA
wow, 76 comments (77 including this one). that says alot.
sidenote i watched the patriot again last night, great friggin movie.
WaMu, Merrill Lynch?!! Do these people even have a degree and if so where did they get it from... a drugstore?
It is a shame that a lot of the American public listen to these dingalings for financial guidance. If I owned a T.V station I would play this video 24-7 until the public got it and these so called "professionals" were discredited beyond repair. These guys are probably hiding under their desks hoping no one saw or even remembered these videos.
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