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I'm loathe to criticize Shiff because there are many, many people I dislike far more than him. He made some good calls. However, people idolize him as if he is blessed with unique foresight, but he is not. That's all I'm saying. He might've identified a crisis was coming, but he had a very wrong idea of what it would be like.
He is obsessed with hyperinflation, and he is convinced that the U.S. economy would decouple from Asia's, and that buying and holding commodities and foreign equities was the plan. When the crisis hit, commodities crashed, foreign equities crashed worse than US equities, the US economy didn't decouple from Asia, and we experienced severe deflation, not inflation. People who invested with EuroPac lost their ass.
Schiff can't get past the fact that the Fed can print trillions, and not create inflation.
That is a big fat lie. They did not. I'm a client. Sure there was a short window of time where if you weren't a long term investor and waited out the fluctuations on paper your portfolio was worth less for a short period of time. If he was so clueless he wouldn't be nearly as successful as he has been. He's spot on regarding having your money invested overseas where it is backed in currencies other than ours and has been right about gold and silver.
That is a big fat lie. They did not. I'm a client. Sure there was a short window of time where if you weren't a long term investor and waited out the fluctuations on paper your portfolio was worth less for a short period of time. If he was so clueless he wouldn't be nearly as successful as he has been. He's spot on regarding having your money invested overseas where it is backed in currencies other than ours and has been right about gold and silver.
oh i get it. a schiff disciple. have fun with that.
oh i get it. a schiff disciple. have fun with that.
Here's an idea for you: I always try to do my homework and see both sides of an issue to avoid making outlandish accusations based on nothing but rumor. It helps maintain your credibility.
Research the Forgotten Depression of 1920 and see what President Harding did and compare and contrast with all the mistakes Roosevelt made during the "Great" Depression. You'll see today rather than following President Harding's blue print(which is what Ron Paul has always advocated) which would have had the economy rolling again in six months or a year, Obama and the dumb-bells in Congress and Obama's advisers have been repeating all the mistakes Roosevelt made that dragged out the depression unnecessarily.
For the quick upshot of what happened and what Obama should have done, go here.
Ron Paul (who I support) said he would have done things very differently, and his measures would have caused a deeper resession, but in 5-10 years it would have led to a heathier foundation. Five to ten YEARS, not months. There was nothig that could have been done to fix anything in 6 months. The only thing to be done was to cushing to fall.
Peter Schiff is one of the FEW people who predicted all of the bubbles and crashes and advised people as to how to protect themselves from all the stupid mistakes and or lies that Ben Bernanke was making----and Alan Greenspan before that--- with the economy that affected people's assets. There are chronicles of all Fed Chairmen's lies and Peter Schiff pointing out at the same time going back 10 years or so on YouTube where they are wrong and why. Peter Schiff has written three books that everyone should read. One is called CRASH PROOF and another is HOW AN ECONOMY GROWS AND WHY IT CRASHES. I think that makes him pretty credible and special. I don't know what your definition of "special" is.
Many, if not most econimists predicted it around 2004, and it was pretty much common knowledge to enyone who wanted to hear it. But the Fed and the Bush admin kept feeding the fire, and here we are.
the exact quote doesn't matter, especially when taken out of context. He was "A primary architect." not "The primary architect." Paulson is the creator of TARP.
If you think Paulson was alone on the creation of TARP, you are mistaken. Take a very close look at Tax Cheat Timmy's professional role as that bankster giveaway was crafted, and how Obama immediately named him his Treasury Secretary.
Not sure why you're unaware that TARP was a Paulson/Geithner creation.
Quote:
You draw this conclusion errantly. The question was not about anyone's complicity, it was, "who created TARP."
Geithner was a key player in the creation of TARP.
And what makes you think being actively involved in whitewashing and funding bankster fraud doesn't evoke the word complicity?
You've refused to acknowledge at least twice that Geithner created TARP with Paulson.
Quote:
Originally Posted by Cletus Awreetus-Awrightus
You have a habit of lying.
Actually, you're the one who's been caught lying.
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