Peter Schiff Prediction in 06'

www.newmogul.com...

Read article after video.......

In the end, by refusing to allow market forces to work their
cure, our economy will inevitably die from the disease. Our
economy will now face death by hyperinflation, which will
cause a complete loss of confidence in the dollar and result
in prices and interest rates skyrocketing out of sight. The
evaporation of our national wealth will lead to civil
unrest, food and energy shortages, and the possible
imposition of martial law. If such a scenario unfolds, what
is left of our Constitution will surely be completely
shredded.

One word: Wow.

I think there ows someone a penny to this guy. I'm just catching up on him, here's another interesting video of him (03/08):

YouTube Link

He was RiGHT ON THE MONEY (literally... rofl).

Edit to add another one:

YouTube Link

Great quote from the comments:



[edit on 12.10.2008 by SiONiX]

I have to hand it to this guy. He is right on the money! The Gov is doing everything that it did leading up to the great depression and are expecting a different outcome. Although I have no savings and have plenty of debt, I am beginning to worry about my job and if I will be laid off. Scary times ahead and I feel so unprepared.

Interesting,
Peter and his firm Euro Pacific Capital are gaining a lot of recognition recently as the "experts" continue to discredit themselves.
Alex Jones had him on about 3 weeks ago.

[edit on 30-10-2008 by HiAliens]

[edit on 30-10-2008 by HiAliens]

Yep, this guy is one of Ron Paul's financial advisers.. you heard Ron Paul saying basically the same thing years ago and during the election also.

Just think we had a chance to elect this guys expertise with Ron Paul. Instead well either get , John "the economy is strong" McCain, or Barack "Spend and Tax to the moon" Obama.

Peter Schiff fans...second hour guest...this week's edition: The Gold & Silver Review @ GoldSeekRadio...Saturday, Dec 13th.

The California conundrum...inflation v deflation...Schiff v Roubini...requiem for the Dollar...stock valuations...so on...so forth.

reply to post by Pinktip

---

According to the principles of economics (101) when tens of trillions of dollars in assets dissapear, go away, no longer exist it causes contraction. That is CONTRACTION in the money supply and economy, not INFLATION.

So we don't have to worry about INFLATION. Gold, silver, precious metals, commodities like oil, basic materials, grains are decreasing in price and will continue to do so. There is no DEMAND for them because everyone is scared that there is a global depression coming and they need to save every dollar they own and not spend it unwisely.

Companies who are selling gold would love to sell you gold because the price will inevitably be going down giving them a profit and leaving you upside down.

A break-down in the recent Dollar rally as predicted by Schiff/Sinclair/Willie..many others...is well underway:
Dollar falls after Fed rate cut

Gold hits two-month high as dollar falls

NY Gold Rallies On Safety Buying,Dollar Weakness


Historic Global Demand:
Dollar demand for gold reached quarterly record of US$32bn in Q3 2008

Financial crisis boosts Swiss gold production

Saudi gold demand up 18% in Q3

China: Investors going for gold as a safe haven


I'm afraid the notion that gold doesn't perform in a recessionary environment/economic downturn = misinformation, coupled with wishful thinking.

US recession: 1973-1975. When Nixon closed the Gold Window in 1971...Gold rose from it's $35oz fix...reaching it's first peak in 1974 @ $166oz (+470%).

US recession: 1980-1982. 1980 Gold trades at an all-time high $850oz...maintains an average yearly price of $650oz.

US recession: 2001-2003. In 2002, the current secular bull market was launched with a break above the $300 barrier.


**Gold brakes above $850. Fed rate-cut rendered $830 resistance.....a speed-bump.

USDX @ 81.63 Spend them quickly