Peter Schiff won't back down: 'The Dollar is going to crash, Buy Gold'

[NorthCarolinaLiberty]

Yes sir. Easy to say when you don't have a job or time/schedule to follow.

What you said is not even relevant. If it makes you feel better, then I have a job and I'm saying it. Others on here with jobs said the same thing in another thread.

 

[PRB]

I'm just asking. Are you a Jewish atheist or agnostic. Yes or no?

If I said no, what would you move on to?

 

[PRB]

What you said is not even relevant. If it makes you feel better, then I have a job and I'm saying it. Others on here with jobs said the same thing in another thread.

Daylight saving isn't about saving time, it's about utilizing more sunlight when available, to save energy. So in the analogy of cutting a blanket, we didn't get a longer blanket, just a blanket that gets more sunlight.

 

[PRB]

If you bought gold around 2002, it would be 4x today.

What did he predict it was going to be in 2002?

 

[NorthCarolinaLiberty]

Daylight saving isn't about saving time, it's about utilizing more sunlight when available, to save energy. So in the analogy of cutting a blanket, we didn't get a longer blanket, just a blanket that gets more sunlight.

Where is more sunlight? The daylight you pick up at the end of the day is lost at the beginning of the day.

 

[ctiger2]

Here's how I think it plays out: USDX to 150, Gold to sub $1,000, Silver to sub $12, US Interest rates rising, USDX at 150 causes all EU banks to bust, Fall 2015 US Bond market collapses, Interest rates spike, Private assets spike: Stocks/Gold/Silver,etc, Govt's officially go bust, Govt starts confiscating private assets: IRA/401K, Taxes rise, Confidence in Govt completely lost, Massive social unrest, New "digital only" devalued currency issued 2017. Let the games begin!

 

[Zippyjuan]

What did he predict it was going to be in 2002?

In 2002, he was predicting DOW 4,000 or even 2000. http://investingcaffeine.com/2009/09/07/the-emperor-schiff-has-no-clothes/ Dow was about 8,000 at the time. "bear market could last ten years". Today it is over 18,000. Inflation will be substantial he said and "significant portions of the Fortune 500 will file for bankruptcy".

 

[NorthCarolinaLiberty]

If I said no, what would you move on to?

Pretty much the answer I'd expect from somebody who worked in a law office and said he has prosecutor friends.

What did he predict it was going to be in 2002?

I'm talking about you and me. You scoffed at 4x profits and I said it could be done.

 

[NorthCarolinaLiberty]

In 2002, he was predicting DOW 4,000. http://seekingalpha.com/article/106824-being-wrong-for-five-years-makes-peter-schiff-right-now Dow was about 8,000 at the time. Today it is over 18,000.

Nice Monday morning quarterbacking from someone who declined to bet me where there loser leaves the forum for good. What did you have to lose again? Oh, that's right; you never said what you have to lose, but instead ran off to the next thread.

 

[PRB]

Where is more sunlight? The daylight you pick up at the end of the day is lost at the beginning of the day.

Oh, sorry, I forgot to explain.

Summer gets longer days than winter.

In the US, summer solstice has a 14 hour day, vs winter solstice with a 10 hour day. Your spring & autumn equinoxes have roughly 12 hour days.

So it's true, the daylight you lose at the end of the day is gained at the beginning of the day, and vice versa. However, the sun rises and sets at different times throughout the year, so waking up and working at different times allows for maximum utilization of sunlight. Put simply, without any adjustment to time on a clock, the sun would STILL rise and set at different times between winter and summer (in most countries that use electricity).

The earth doesn't get more sunlight by you changing your clock or the time you do your task, but you can utilize more sunlight and spend less electricity if you were working during the time sunlight is available. Sunlight doesn't wait for you, you can take it or leave it, work night shift and turn your lights on 24/7, that's all your choice.

 

[Danke]

In 2002, he was predicting DOW 4,000. http://seekingalpha.com/article/106824-being-wrong-for-five-years-makes-peter-schiff-right-now Dow was about 8,000 at the time. Today it is over 18,000.

And by 2008 in was going down to hit 6440. The fed stepped in that no one could have predicted and now with that intervention it is artificially high.

 

[Zippyjuan]

I lost it but searching for info on Schiff found a quote where he said he has never been wrong. Darn. Can't find it now. Some interview from US News and World Report.

Found a reference to it: http://www.getbig.com/boards/index.php?topic=319479.0;wap2

Schiff's quote used for the headline of this article ("The reality is I don't think I've been wrong on anything") comes from an interview U.S. News & World Reports magazine did with Schiff in their May 30, 2008 issue. (In that piece, Schiff made a number of predictions I will get to in a moment.) The quote came from comments he made when discussing the supposed accuracy of his predictions over the past decade.

 

[PRB]

I lost it but searching for info on Schiff found a quote where he said he has never been wrong. Darn. Can't find it now. Some interview from US News and World Report.

Never been wrong doesn't mean ever been right.

 

[NorthCarolinaLiberty]

Oh, sorry, I forgot to explain.

Summer gets longer days than winter.

In the US, summer solstice has a 14 hour day, vs winter solstice with a 10 hour day. Your spring & autumn equinoxes have roughly 12 hour days.

So it's true, the daylight you lose at the end of the day is gained at the beginning of the day, and vice versa. However, the sun rises and sets at different times throughout the year, so waking up and working at different times allows for maximum utilization of sunlight. Put simply, without any adjustment to time on a clock, the sun would STILL rise and set at different times between winter and summer (in most countries that use electricity).

The earth doesn't get more sunlight by you changing your clock or the time you do your task, but you can utilize more sunlight and spend less electricity if you were working during the time sunlight is available. Sunlight doesn't wait for you, you can take it or leave it, work night shift and turn your lights on 24/7, that's all your choice.

Forwarding a clock from 5am to 6am means that I now have to wait another hour before going outside to work. It's still dark, so now I am spending the lighting electricity in the morning instead of at night.

 

[PRB]

Forwarding a clock from 5am to 6am means that I now have to wait another hour before going outside to work. It's still dark, so now I am spending the lighting electricity in the morning instead of at night.

No, it means you have to wake up an hour early (not waiting). Also, you're assuming the sun won't rise sooner later (which it does, because summer has 4 hours of sunlight more than winter, or 2 hours more than spring).

When you say spending electricity in the morning instead of night, it's assuming a 1 hour difference, it may be longer. So now, you may think you're spending an extra hour of electricity in the morning, saved at night maybe. But closer to summer, you'll be spending less electricity on both morning and night. Change from summer to winter is gradual, so the 1 hour change is a compromise on a 4 hour difference.

 

[NorthCarolinaLiberty]

No, it means you have to wake up an hour early (not waiting).

Nothing to say you can't wake up without changing a clock. I'm not talking about the natural changes either. You keep mixing the two.

 

[PRB]

Nothing to say you can't wake up without changing a clock. I'm not talking about the natural changes either. You keep mixing the two.

and you can wait in the dark, what's your point?

 

[NorthCarolinaLiberty]

and you can wait in the dark,

LOL.

what's your point?

You just made it.

 

[NoOneButPaul]

Here's how I think it plays out: USDX to 150, Gold to sub $1,000, Silver to sub $12, US Interest rates rising, USDX at 150 causes all EU banks to bust, Fall 2015 US Bond market collapses, Interest rates spike, Private assets spike: Stocks/Gold/Silver,etc, Govt's officially go bust, Govt starts confiscating private assets: IRA/401K, Taxes rise, Confidence in Govt completely lost, Massive social unrest, New "digital only" devalued currency issued 2017. Let the games begin!

I actually am beginning to believe the same thing but we may get even lower prices in PMs...

The Euro and Yen will collapse first and the dollar will go parabolic right as the Fed doesn't want it to. It's going to be an amazing implosion.

When it happens they'll do the only thing they know how - print and Schiff's long predicted hyperinflation may actually happen.

 

[DamianTV]

More like, "A clock only works when no one is messing with the time."

When it comes to our clocks, they switch the time twice a year. When it comes to the economy, they are constantly moving it. What Schiff says should be reality. And someday it will be. But there's so much intervention into markets that one cannot possible predict when it will happen. There are hundreds of workmen getting paid handsomely to go around this ship and patch up holes as they appear to keep this ship from sinking. Eventually, we all know they won't be able to do it anymore, but I have no idea how long that might take.

Whaaaaaat? You mean Daylight Squandering Time isnt a real time zone?

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The value of gold can be manipulated just like everything else. Basically what Zippy is also trying to say is "there is no inflation what so ever cuz Gas went down temporarily, oh and food isnt used to determine market value cuz it fluxuates, and in fact, the whole economy is doing just fine because the price of DVDs remains at a constant $20 per pop, new".