Schiff's response to the attacks by Mish

hugolp said:
Its allredy starting. But yeah, only future will tell.

Thanks for pointing Gary North, Ill check him. Hopefully he will have more class than Mish.

Hugo
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Gary North is an "inflationist." He's not like Mish. Mish is still under the ridiculous impression that we're in danger of a deflationary depression.
 
Brassmouth said:
Gary North is an "inflationist." He's not like Mish. Mish is still under the ridiculous impression that we're in danger of a deflationary depression.
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An "inflationist" as he suports keinesianism or an "inflationist" as he predicts inflation? Guess is the last one.

Hugo
 
He has said a million times "INVESTING WITH EUROPAC, WE DO NOT CHASE SHORT TERM GAINS. We are protecting your wealth by moving it out of the country to invest in businesses with little to no exposure to the US market."

My boss invested with europac right before the dollar rally. His account is down. He has added a great deal to it though in the meantime while prices are super low. He knew in the beginning that this was a long term investment to protect your wealth not earn immediate double digit returns.
Had he invested in the DOW or GM or the Banks or any of the traditional stuff people were investing in early 08, it would have been a lot worse. Same or worse losses, but with no chance for rebound. PMs and foreign stocks are much much much (almost assuredly so) more likely to rebound back to previous values and higher; compared to US stocks
 
Malakai said:
He has said a million times "INVESTING WITH EUROPAC, WE DO NOT CHASE SHORT TERM GAINS. We are protecting your wealth by moving it out of the country to invest in businesses with little to no exposure to the US market."

My boss invested with europac right before the dollar rally. His account is down. He has added a great deal to it though in the meantime while prices are super low. He knew in the beginning that this was a long term investment to protect your wealth not earn immediate double digit returns.
Had he invested in the DOW or GM or the Banks or any of the traditional stuff people were investing in early 08, it would have been a lot worse. Same or worse losses, but with no chance for rebound. PMs and foreign stocks are much much much (almost assuredly so) more likely to rebound back to previous values and higher; compared to US stocks
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Exactly. I just hope he doesn't get stigmatized too much. Because an attack on him, is pretty much an indirect attack on Austrian Economics. Meh, he'll be proven right in the long run.
 
danberkeley said:
Hey mods, can we get this stickied?
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No cult of personality here, only RP sheeple worship from this point forward, strict examination of worldwide markets and financial indexes to be completely ignored, anyone founding examining Europac client portfolios will be shot on site :rolleyes:
 
silverlinkx2 said:
No cult of personality here, only RP sheeple worship from this point forward, strict examination of worldwide markets and financial indexes to be completely ignored, anyone founding examining Europac client portfolios will be shot on site :rolleyes:
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having 14 different posts bashing peter schiff is called peter cult worship? :rolleyes:
 
I don't attack Schiff. On the contrary, I like him, and he was dead on about subprime. About commodities, foreign currencies, precious metals and the dollar, he was completely wrong. You can't see the future, you don't know what's going to happen. We may never ever have hyperinflation. What if the Fed skyrockets interest rates to counter inflation after the bailout? The dollar will still have value if they pull a move like that. Or ::gasp:: the government stops spending in a few years.
 
jon_perez said:
Certainly the line of reasoning people like Schiff (and Jim Rogers even more so) make have some soundness to them. But economics is a tricky field where sound reasoning does not necessarily count in the short or medium term.
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Jim Rogers is the self-proclaimed "World's Worse Market Timer". At least Rogers predicted the dollar rally. If fact and unlike Peter Schiff, over the last year, Rogers has not recommended European companies, nor Aussie companies, nor did he recommend to get out the dollar ASAP, nor has he been recommending gold.

Now, if you listen to the reasoning of [current] deflationists like Mish and Gary North, their arguments are even more sophisticated and make as much (or more) sense as anything I have heard coming out of Schiff or Rogers.
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Schiff doesnt have a daily blog and neither does Rogers. And when they are on TV, all you hear are sounds bites, I dare Mish to give a sophisticated answer on TV without being interupted by the anchor.

Moreover, these two have been vindicated by recent events. I tend to trust their judgement more, because I do not get the impression that these people are blind deflationists (unlike Schiff and countless gold bugs out there who seem to be just hoping to be right the same way a broken watch is right twice a day).
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I take your use of the word "gold bug" as a sign of weakness. Anyway, people have been saying that Peter Schiff has been wronf for the past two years. I guess a broken clock is right twice a day.

If and when an inflationary bias presents itself in the economic environment, I fully expect North and Mish to detect and make the call for such.
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So why hasn't Mish recommended TBT lately? Or has he?
 
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silverlinkx2 said:
I don't attack Schiff. On the contrary, I like him, and he was dead on about subprime. About commodities, foreign currencies, precious metals and the dollar, he was completely wrong. You can't see the future, you don't know what's going to happen. We may never ever have hyperinflation. What if the Fed skyrockets interest rates to counter inflation after the bailout? The dollar will still have value if they pull a move like that. Or ::gasp:: the government stops spending in a few years.
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Is that you Mish?
 
silverlinkx2 said:
I don't attack Schiff. On the contrary, I like him, and he was dead on about subprime. About commodities, foreign currencies, precious metals and the dollar, he was completely wrong. You can't see the future, you don't know what's going to happen. We may never ever have hyperinflation. What if the Fed skyrockets interest rates to counter inflation after the bailout? The dollar will still have value if they pull a move like that. Or ::gasp:: the government stops spending in a few years.
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it's not simple enough that you skyrocket rates to counter inflation. Especially when foreigners have more control over your money supply than you do.
 
Oh I came to this thread trying to find reasonable discussions with level-headed libertarians and I guess I fell into a Schiff fanforum for 16 year old girls. Excuse me :rolleyes:
 
theoakman said:
it's not simple enough that you skyrocket rates to counter inflation. Especially when foreigners have more control over your money supply than you do.
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increasing rates benefits foreigners holding debt. that means they get better interest rates on bonds and t-bills and the like.
 
A lot of people ignore the fact that Schiff has been saying for a while now that those who buy mining stocks are going to be the real winners in this game. When all the markets were tanking, he said on air that the mining stocks would benefit greatly because gold price would rise and the cost of mining would decrease. Well, since then, most mining stocks I've looked at are up 80-100%. If people bought back into the market when some other things have sold off on some of Peter's recommendations, they can easily make up any losses they incurred from pullbacks in other stocks.
 
theoakman said:
A lot of people ignore the fact that Schiff has been saying for a while now that those who buy mining stocks are going to be the real winners in this game. When all the markets were tanking, he said on air that the mining stocks would benefit greatly because gold price would rise and the cost of mining would decrease. Well, since then, most mining stocks I've looked at are up 80-100%. If people bought back into the market when some other things have sold off on some of Peter's recommendations, they can easily make up any losses they incurred from pullbacks in other stocks.
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I don't understand why people would blindly put there money into Europac or into someone else's hands. Even after reading Schiff's books and his commentaries, and TV interviews. If you knew how to better manage your own money, then you should not have put your money into Europac. Anyway, I dare anyone to put their money into Europac to liquidate their portfolio now and put their money into US dollars. We'll see happens in 5 years.
 
danberkeley said:
How would you know?
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The US Fed is the mother of all central banks, the world's central bank; it will not allow its own destruction to take place-- and neither will its partners in allied nations.
I'm pretty sure it has methods of persuasion we can only imagine.
 
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