Ask Peter Schiff – Reality Can be a Tough Sell
This guy who I haven’t heard of before today, was on all the top economic TV shows, stating EXACTLY what was wrong with the economy and what the results would be.
The experts mocked him and laughed at him.
And if you’re like me, after you watch that, you’ll be thinking, “so what’s he saying now?”
Part 1 of Peter Schiff on BLOOMBERG 28 Oct 2008
Part 2 of Peter Schiff on BLOOMBERG 28 Oct 2008
Politicians and people in general all go for solutions that try and minimize pain, but feeling pain is an inevitable part of the healing process, and without feeling it, you don’t see the critical mistakes, and you don’t learn.
As an investor, I am thinking that a way of shorting the US dollar long term could make someone very rich in the next few years. Gold is one way to play that angle, but a form of leverage would really accelerate the potential gains.
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Comments ( 7 )
[...] Symons on his art of money blog has a mashup of Peter Schiff videos where Schiff predicted the economic collapse close to two years ago while others laughed at his [...]
Peter Schiff or Nostradamus | The Lessnau Lounge added these pithy words on Dec 13 08 at 8:39 pm[...] Art Of Money: Reality Can Be A Tough Sell [...]
The Well-Heeled | Creating Wealth Through Knowledge added these pithy words on Jan 16 09 at 12:19 pmMartin Russell added these pithy words on Nov 20 08 at 1:19 pmIf you like the idea of gold, you also need to be careful about the idea of leveraging with paper / electrons. Another alternative Jon is to hunt out the silver story. I’d suggest http://www.silverseek.com for starters.
Robert Kiyosaki has also been hammering on many of these ideas for quite a while now.
Fun times indeed!
Tyler @ Dividendmoney added these pithy words on Nov 21 08 at 5:00 pmIf you want to short the US dollar, you can use the Horizons US Dollar ETF. The symbol for the Bear (short) ETF is HDD.TO.
Jon added these pithy words on Nov 24 08 at 3:43 pmThanks Tyler, good resource. Wish I would have made the trade Friday am when Can$ was at 1.29
.
Ideally I’d like a US$ index fund against a basket of other currencies to lower risk, there much be something like that, but I haven’t found it yet.
Roland Manarin added these pithy words on Dec 01 08 at 3:35 pmShortly after 9-11, the MZM measure of the money supply of dollars in the U.S. was 5.3 trillion. Now it’s 8.7 trillion. Eventually this deflationary episode will pass and we’ll return to the long term trend of inflation. Until then, I’m using this opportunity to buy up more non-dollar assets including gold/gold-mining stocks.
Captain Syphillis added these pithy words on Feb 14 09 at 7:02 pmBailout 2008, a poem by David Jeffrey
Like a bloodied warrior,
laying broken and torn.Like a dying soldier, hopeless and forlorn.
But the blood, it be green,
the color of money.And the soldier is an economy,
and it is anything but funny.Broken are it’s people and shattered are their dreams.
Thanks to the ultra rich and their full proof schemes.
It is a tragedy with more pain to come.
Finance will be Hell, and their wills will be done.