Peter Schiff: bernanke is lying!!!!!

[MKTrader]

Quote from intradaybill:

Why do you like a guy who puts profit above and beyond the good of his own country, where he lives and where he sh*ts.

By calling on everyone to sell US assets he is basically making the job of US enemies easier.

Wrong thread, dude. You're talking about the Fed and bailout gangs in D.C. and Wall Street.

Schiff has NOTHING to do with the policies that are killing the USD. He hates them, in fact. He's just telling people how to protect themselves financially.

Oh, and when crime skyrockets in your neighborhood, blame your neighbors for “bailing out” when they saw trouble coming. They should’ve been patriotic and proudly stayed put. The crime is their fault, not the robbers and looters.

 

[MarketMasher]

Why does everybody get angry when the Federal Reserve raises your taxes??

 

[Debaser82]

Quote from MKTrader:


I can't speak for his actual account,

He has 50% of his own money in physical gold, half of the rest in miners and the rest I don't know but I take it indeed it is made up by foreign resource companies and currencies.


When he shared this on his radio show (must have been 2 to 3 years ago now) he adviced others not to follow his lead and go more diversified rather then so overweight gold.

 

[TheTrucker]

Quote from S2007S:

Watch this, Peter Schiff is 10000000000000000% on the fucking money with what he is saying, just like I have been saying for years about bernankes lies Mr. Schiff is saying the same thing. Peter Schiff knows Bubble ben bernanke is lying....he said they will ignore the problem until it becomes a huge catastrophe....................



Peter Schiff says there would be NOOOOOOOOOOOOOO DEFICITS if Bubble ben bernanke was monetizing them he is the enabler, he said if the fed had disciple and raised rates that would force congress to cut spending because the would no other way to sell these bonds!!!!


Everyone laughed at Peter Schiff back 4-5 years ago when he yelled that the housing bubble was going to pop and that a crisis was at hand, no one listened to him and no one is listening to him now. You will come back to this video in the next year or two and see how right Peter Schiff was right.


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Peter is "right". The dollar is falling and will continue to fall until the trade deficit is corrected. That is what competing currencies do and it is right and proper that this happens. He is also right from an investor point of view. People should run away from dollars and dollar denominated (fixed interest rate) assets. Fortunately, he is quite wrong concerning his "sky is falling" assessment of the actual US economy. Wages will be rising and unemployment will be easing as the stuff we buy from offshore becomes more and more expensive. Peter is an investor. Not an economist. The result of dollar devaluation is a rise in the value of domestic labor. That is _why_ the FED has a dual role. The 2007 "bubble" inflated asset values vis a vis labor. And until that situation is addressed the dollar must continue to fall. As "investors" move their money offshore and buy gold then _REAL_ wages in the USA _MUST_ rise or there will be a mass upheaval. This will appear as inflation and owning one's home is the standard inflation shield for the producer class. Look for the bottoming of housing prices in the next 6 months. Bernanke is doing what must be done. It remains to be seen whether the voting public is intelligent enough to understand it.

 

[jlancaster]

Quote from Debaser82:


When he shared this on his radio show (must have been 2 to 3 years ago now) he adviced others not to follow his lead and go more diversified rather then so overweight gold.

Diversification is always good. IF he's held on to that gold he has a fat wallet right now.

 

[rew]

Quote from intradaybill:

Why do you like a guy who puts profit above and beyond the good of his own country, where he lives and where he sh*ts.

By calling on everyone to sell US assets he is basically making the job of US enemies easier.

More importantly, he makes ridiculus arguments. He argues that being unemployed is equivalent to being employed while the dollar is falling.

I think he is the product of a free democratic country where people are free to make statements like that. If he lived in China and called on everyone to sell Chinese assets how long do you think it would take for him to have a bullet implanted at the back of his head?

There are no U.S. corporations. There are only multinational corporations that have found Delaware to be a good flag of convenience. Even when they prosper they don't hire American citizens. If you believe that U.S. stocks are going down in real terms (i.e., in terms of what you can buy with the proceeds after you sell them) then it is only prudent to advice people to sell those stocks. The biggest enemies of the United Sates reside in Washington, D.C. It is Bernanke who makes the jobs or our enemies easier.

 

[IanMacQuaide]

Quote from TheTrucker:

.....As "investors" move their money offshore and buy gold then _REAL_ wages in the USA _MUST_ rise or there will be a mass upheaval. ......

I'd count on the "mass upheaval" first.
ymmv, fwiw and imho

 

[MarketMasher]

Quote from Larson:


Bernanke is a failed economist.

Depends on what his goals are.

Maybe if you did an inventory of his economic accomplishments and saw a consistent thread through them, he might be really successful at what he's trying to do.

 

[dtan1e]

Quote from MarketMasher:

Why does everybody get angry when the Federal Reserve raises your taxes??

because the fed taxes the economy so much that all business has to cut cost, cut staffs, hire cheaper so that they can "pay their taxes," hence, the high unemployment

 

[MarketMasher]

Quote from dtan1e:

because the fed taxes the economy so much that all business has to cut cost, cut staffs, hire cheaper so that they can "pay their taxes," hence, the high unemployment

Don't you have that backwards? Isn't the (dollar devaluation) tax increase through cheaper dollars via the Quantitative Easing supposed to increase employment? You know - raise taxes, increase employment...?

I'm very confused....