January 05, 2008

A message from Peter Schiff. Watch it. And for heaven's sake, read the book already.


Roccman said...

I mostly agree with Schiff, but where he is wrong is he discounts the effects of Peak Oil on global economies.

All global economies tacitly assume cheap oil will be available to run their factories, process raw materials, transport goods...

As oil continues to increase more and more investors will realize that shares in global economies are GREATLY OVERVALUED. Cheap oil allows goods to be produced cheaply and profits soar.

Somehow I think a smart guy like Peter knows of Peak Oil (you would have to live under a rock to not know that fuel costs are the number one input in the production and distribution of goods)...

...but like most others Peter will not tell his investors they are about to get ass F'd because it is bad for business.

He will ride the gravy train as long as he can...just like the others.

Anonymous said...

Just wow.

Anonymous said...


Do you have an account at Euro Pacific?

Anonymous said...

so what's Peter's minimum over there at Euro-Pac?

my guess is 5-10 million.

keith said...

No I don't have an account there (yet) but I do check out what stocks his holders own, and also all the videos and articles - good website


Anonymous said...

so what's Peter's minimum over there at Euro-Pac?

my guess is 5-10 million.

There is NO minimum at Euro Pacific. Peter reiterates this on an almost weekly basis on his radio show (Wednesday's 8:00 PM EST).

He is however a full service broker, meaning you get full service charges. FYI

Anonymous said...

I can't help but remember how Peter was spot on regarding the housing collaspe when everyone else laughed but Schiller. As far as global oil demand, there won't be any here. You have to eat before you can pay 3.50 per gallon to drive your 8 mile per gallon suv you bought with momey borrowed using your home for collateral. Everyone is an investor (day trader). I recommend all you supersmart investor types buy a shovel if you can't see what Schiff is saying. You will need it when you lose your day job in the upcomming depression,to dig ditches. All the good jobs have been moved to the pacific rim. Oh I forgot, forget about the shovel we have 50,000,000 illegals here that will be doing that work. You free traders are to stupid to be real.

Anonymous said...

Peter is right on about the United States but be careful about his view of the rest of the world. We know the UK housing market might end up worse than the US. Spain, Ireland and many Euro countries are in a bigger bubble than here. In Spain, Italy and Germany there are protest groups to bring back the peseta, Lira and Mark.
For an interesting view check out Marc Faber on youtube and his Oct 22, 2007 CNBC sqwuak box interviews(3 segments) Basically if the world goes up together we can certainly all go down together.

Andrew said...

brilliant as usual. I had to keep replaying the part about Chinese no longer lending us money so we can remodel our kitchens or buy big screen televisions.

i have been saying this for years, and indeed it is why i left my life in Canada. My job (like most Canadians) was based on providing services to American companies.

Tyrone said...

He flipped us off when he pointed to his book. LOL

bob said...

Can you say "sales pitch"?

This reminds of the SNL (SCTV?) skit where eugene levy (?) comes on telling everybody they can make their own TV ads - while doing everything that can possibly be done wrong in a public presentation.

Schiff couldn't have written something up and rehearsed a little?

Especially gotta love the "I wrote about this in my book...here's a copy" and he holds up the book, as if showing the book proves something.

Schiff is right about housing, he's prolly right about lots of other stuff, but this video is just embarrassing.

Maybe he's been hanging out with the "realtwhore on coke"?

eric in vegas said...

Schiff is the man. When are people going to stop doubting his powers?

Chrysler Le Baron with rusty fenders said...

Stop talking about "Peak Oil" please!

The term has been presented to the public and accepted at face value for years without any substantial proof given.

When we speak of "Peak Oil" we are really only speaking about the oil which has been "easy" to extract. The earth is literally overflowing with petroleum reserves (90%) of which lie in South America and which are not as "easy" to extract.

But perpetuating the myth that we're running out is simply not the case it just isn't supported by the facts.

So please stop presenting the peak oil argument and its effects of global economies.

If you want to discuss the price of oil and its effect on global economies, that would be more beneficial to all readers of this blog but stop with the "Peak Oil" myth from the 1950s already.

supershark said...

Brightcove freaking sucks! This video keeps stopping and going back to 0:00 every 5 seconds or so!

Anonymous said...

He is very smart. The only disagreement I have with him is that Europe and America are headed for a severe recession. This will negatively impact the foreign markets since we will be buying less of there goods. Thus, foreign markets may prove to be a poor investment.

logical said...

So now Peter is preaching de-coupling as he waves his book like a Southern Baptist preacher waving a Bible.

He's basically saying, let's take our money out of the US, it's toast, and we'll just go skipping off to the foreign markets and make our big bucks there.

Yeah, right. But it's here you're gonna be living, right? The country that you've fiscally abandoned is still expected to give you a nice quality of life while you make love to the Chinese stock market?

And the Chinese, making 26 cents an hour, are going to buy all that useless crap instead of sending it here? Really! Since it 'belongs' to American companies like Wal-Mart and Target, will they even be able to afford it? Let's see now -- a toilet brush, made in China at 26 cents an hour, sells here for $4.99 -- how many days would a Chinese worker put in to buy it? Yes, I'm sure they'll be lining up for the opportunity to take the place of American suckers who will buy any over-priced POS as long as it's on credit.

I am absolutely amazed that Peter Schiff has a following. He's a self-promoting scam-artist. He will get paid off your fees just like the scammers on Wall street get paid whether you make money or not. OPM, folks! And investors like YOU provide the OPM!

Yes, the US is full of free-spending childish idiots who think there really is a free lunch. Schiff is right about that. Yes, we're toast. But can you just invest with Peter and walk away from the US like it's Kenya or Tibet? If you believe in Peter Schiff's magic powers, then you're the same as any FB. Different product, same childish wishful thinking.

Princess Mononoke said...

Keith, the Peter Schiff video is completely gone??? Can you check that out for us. I wanted to email it to a friend. Thanks! :)