October 08, 2008

Take 10 minutes and listen to Schiff. You'll be glad you did.

16 comments:

us gov watchdog member 7095802 said...

Anotherwords, "no-oath Bush" the worst President in our history, with unprecidented criminal activities over the past 8-years, trillions of dollars wasted, millions of citizens in pain, thousands of humans dead and injured, our future stolen, bankrupt banks and businesses and our elected US Congress is letting him walk away untouched as our great country burns to the ground.

F*cking nice. What a god damn joke.

We The People, should put up a chain fence around Washington DC and let them starve to death, and re-start our original, U.S.A. non-criminal government in a new location, and let DC burn to the ground.

This may be are only hope to survive...

No, this is not a dream. This is real. We are doomed.

Anonymous said...

Schiff has a lot of things right, but it is still very questionable the the foreign markets will do any better than the US ones. They are all used to exporting to the US, which isn't buying as much anymore. They had their own share of high housing also. It depends a lot on what the governments do. Play it safe, buy gold, guns, ammo and non perishable food, and a warm sleeping bag.

k.w. - Southern Ca. said...

Schiff is so right on - especially when it comes to student loans.

No tuition should be so enormous that it requires students to take a loans they have to pay back after years and years.

Education is really "EduBiz"

k.w. - Southern Ca. said...

Foreign currencies will also tank, there's no stopping that, it just may take a bit longer than our devalued currency.


Anonymous said...
Schiff has a lot of things right, but it is still very questionable the the foreign markets will do any better than the US ones. They are all used to exporting to the US, which isn't buying as much anymore. They had their own share of high housing also. It depends a lot on what the governments do. Play it safe, buy gold, guns, ammo and non perishable food, and a warm sleeping bag.

West Coast Willie said...

I bet that Schiff's model portolio is down at least 30%. Anyone have that info?

That said, he has gotten a lot of things right and deserves HP hall of fame status.

keith said...

his take on foreign stocks is buy to hold foreign dividend plays and don't sweat the ups and downs of the stock's value - just enjoy the foreign currency dividends

that's a hard concept for many, who are not buy-and-hold and are only looking at their portfolio's top-line day to day value.

but schiff has a point. take an apartment unit that you have no intention of selling and do not need to sell to raise funds for any reason for the next 10 years. if you can rent it out for positive cash flow, do you really care too much about its perceived value on any given day?

curtstest said...

I like the idea of an HP Hall of Fame. Do we have an official one yet?

Anonymous said...

Schiff's just plain wrong. The world is NOT decoupling from the US. In fact, foreign markets are tanking faster than US markets.

The EU may dissolve as well. Who know what's going to happen with the Euro.

We're starting to have worldwide deflation. No asset class is safe, except maybe arms, ammo, canned food, alcohol, tobacco, TP, water, condoms, and feminine products.

Jean said...

Keith

That is how I think about it. I invested a large chunk of my money with EuroPacific last spring and its value has gone down significantly but I get those dividends every single month.

sandman said...

Schiff is a great guy. His heart is in the right place and he is smart. I really like him. I own his book.

In fact, I have a EP account - among several others. So I am his customer.

However, he's bringing a gun to a knife fight here. The Euro is going down. The Iceland Krona is dead.

See http://www.ft.com/cms/s/0/44a180c4-9524-11dd-aedd-000077b07658.html

There are more variables than just "savings" - think military, think strength, Go watch Confidence. There a number of possible moves. The US is a great player.

What Schiff doesn't get it the playing field ain't level.

This is not a GO-GO US post. I'm just saying the playing feild ain't level.

Oh yeah, and I stand behind we're gonna take our lumps - big time.

But like i said - States Rights. See John C Calhoun and give a think about Europe.

JC said...

I called Euro Pacific Capital a year ago. Though I agree with Peter's analysis of the dangers of the declining dollar, I would have lost a lot of value in my portfolio had I followed their advice and moved my money to AUD at the time I called them. When I called them, the AUD was at .89 and how today at .66 AUD to USD. I did much better sitting in 5% tax free bonds during that same time period.

investorinpa said...

Great idea for HP hall of fame..i think keith had something similar before, including Schiff, Roubini, David Walker, Ron paul, and a few others..

broke ass realtor said...

Gold bugs are full of shit.It took 20 years for the morons who bought gold at 800 in the 80's to break even.Do not buy gold or silver now.Buy this fear in stocks and it is a guaranteed 20% return in a year.Learn to be a good investor.Do you have the balls?

Anonymous said...

Schiff is right on the housing bubble, I give him credit (pun intended) for that, but he is wrong on just about everything else.

The Fed threw in 650 billion in the markets last week and another 900 billion is available this week. That's over 1.5 trillion in money and it has not, nor will it do any good, because we are in a deflationary spiral.

The Government has spent about 1 Trillion in bailouts for Wall Street and that was before the 700 billion bailout was approved and it still hasn't propped up the markets because the destruction of credit has far exceeded any efforts of the Fed or Treasury.

Yet Schiff still thinks that hyperinflation will destroy the dollar. He also running around saying oil and other commodities would continue to skyrocket. By the way how is oil doing right now?

And don't even get me started about his belifs in decoupling, how is Asia and Europe doing right now?

BTW, Keith South Korea has had to increase their reserve of the greenback because they cannot meet demand.

Anonymous said...

Why didn't Warren Buffett or the US buy Iceland? It's full of hot women.

theloknesmonster said...

Schiff isn't doing his clients any favors by putting them in other currencies.

The gold call may or not be correct and other commodities, who knows?

You want a sure thing?

Bet on human greed and gluttony.

I started investing right around the time the market bottomed after 9/11 after having read about, studied, and marveled at the tech bubble. I got lucky with my timing.

Over the seven or so years since, the portfolio had seen outstanding returns. I hung on a little long, not selling last summer or fall, but did when the Dow bounced to 13000 last spring. Now it's in a death spiral and I am in cash.

It will easily lose another 2000. How could it not? Stupid people are actually going to run for the hills and bail now because they either have no choice, or can't think for themselves and listen to pseudo-experts like Cramer.

You will know when to by back in if you are paying attention. You will have cash, and you will buy good companies only or indexes, and pass on the speculation.

Then you can watch the market's slow, inevitable recovery.

When that occurs you will get another dose of the natural human instinct for greed and gluttony, and another bubble will emerge followed shortly by rampant speculation and the stock market once again becoming overly valued.

At this point SELL...

This is a pattern that will repeat itself until the end of time.

Watch for the signs and you will never lose.