11-24-2008, 10:07 AM
Breand Wrote:God I love this video, Peter Schiff calling everyone out on their stupidity since 2006.
http://www.youtube.com/watch?v=2I0QN-FYkpw
Highlights:
Bren Stein saying: "I think stocks will be a heck of a lot higher a year from now than they are now." -Ben "Creationist" Stein in August 2007
And that Merril Lynch was an amazingly cheap buy when it was at $77. It closed yesterday at $8.34.
Retard extraordinaire Tracy Byrnes saying that Goldman Sachs was like Dolce and Gabana on sale at $177. closed yesterday at $53.
Just listen to ALL the people laughing at him, thinking everything he says is a joke.
Peter Schiff has predicted a lot of the current turmoil in the markets and the economy. If you follow his predictions though, he is currently advocating exiting the American market all together. The basis for this recommendation is that the US dollar is going in the shitter very fast and therefore because the American stocks are tied to the US dollar all of those stocks are also bound for the shitter.
He advocates at present to put all your cash into foreign markets / currencies.
Also love how he calls gold (at that time at $83) to go to $1000 within a year (which it did.) He recently predicted Gold to $2000 next year and $5000 by 2012.