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Peter Schiff said...
NIA responded to my video by raising a straw man. They claimed they did not "pump and dump" the stock since they did not personally sell any shares. However i never accused them of that. I alleged that a third party paid them to pump up the stock so the third party could sell their shares. The fact that they never addressed this allegation is pretty compelling evidence that it's true. They also claimed that they warned their members that Mega's gold ounces were merely "inferred." That is my point --they did not warn them!. They did not define "inferred", and they counted on the fact that their members would wrongfully assume that "inferred" meant they actually had gold. That is why they fraudulently calculated the value of their "inferred" ounces based on today's gold price. They also included a list of legitimate gold recommendation. But they only make those "suggestions" to lay the foundation for future pump and dump schemes.
In addition, they accused me of running a failing brokerage firm that will soon be out of business despite the fact that my business has never been better. We have more clients, more revenue, and more profits than ever. We also generally charge much lower commissions than what they claim.
May 21, 2011 7:15 AM
NGAS Resources Inc. (NGAS)
Suggested on February 11th, 2010, at: $1.38
High in 2010, of $2.14 +55%
China Sun Group High-Tech Co. (CSGH)
Suggested on December 14th, 2009, at: $1.61
High on January 8th, 2010, of $2.35 +44%
Schiff: National Inflation Association is a Fraud
Whoa! Last week,the National Inflation Association put out an email that contained blatant untruths about Peter Schiff.
Schiff is back with guns blazing. Do not mess with Peter Schiff.
UPDATE: Sources advise that the SEC and DOJ are actively examining National Inflation Association activities. - Full Text
edit on 28-5-2011 by OBE1 because: Add: "preliminary"