Here's Peter Schiff's prescient 2006 speech to 1,000 soon-to-be-out-of-work mortgage brokers - telling them what was to come before it came

Watch all eight parts. This, HP'ers, is a tour-de-force. This, HP'ers, is the most brilliant presentation you'll ever watch on the Late Great Housing Ponzi Scheme.

This presentation is important.

And this presentation was so spot-on, from start to finish, you'll be amazed. Blown away. And regretful if you didn't listen back then, or today.

Part 2 is most interesting, where Schiff puts the blame where it lies - on the immoral and reckless fiscal policies of Greenspan and Bush, which created the most irresponsible debt-fueled consumption binge in human history.

And then Schiff gets into CDO's, AAA ratings on crap, liar's loans, renting money from a bank, why work when you can just own a home, ARM timebombs, why the whole house of cards was about to collapse, and what's still to come.

"As pendulums swing, they don't swing to one side and then stop at the middle.. So as expensive as real estate got, that's how cheap it's gonna get. People are gonna be completely amazed at the prices that houses are gonna be selling for in a few years. Amazed."

Peter Schiff saw it coming like no other. He gets it. He got it. And he is HousingPANIC's #1 guru.

Bravo Peter Schiff. Bravo.

HousingPANIC Exclusive - Five Questions with Peter Schiff

Here you go HP'ers - some great insights from The Man Himself, Peter Schiff, who was kind enough to do Five Questions with us today.

Join me if you will in thanking him for his time, and his spot-on advice these past few years. Mike Norman and Tom Adkins must hate this guy.
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HP: Assets including stocks, commodities and real estate are all deflating, while inflation is roaring. What's the best way to protect your wealth in this environment?

Schiff: Stay out of the deflating assets, which include real estate, most U.S. stocks, and all U.S. dollar denominated bonds and other debt instruments. Invest in foreign currencies, foreign stocks, precious metals, and commodities. Commodities are not deflating bubbles and recent declines merely represent pull backs in bull markets that should be bought.

HP: Are you surprised that Angelo Mozilo and Michael Perry haven't been arrested yet?

Schiff: No, and I am not sure that their actions will be considered criminal. The real criminals are in government and the Fed. I would like to see a few of them arrested, but I won’t hold my breath.

HP: Obama or McCain, or does it not matter?

Schiff: I do not support either candidate, but have mixed feelings about who I would prefer, thought I will vote for neither. McCain would appear to be the lesser of the two evils, but given how bad the economy will be during the next presidential term, it might be better to have Obama win as he and his big government philosophy will get the blame. That might set the stage for a Ron Paul Republican to take the White House in 2012 and bring about change for the better.

HP: Is the recent housing gambler bailout just the beginning of socializing this crash?

Schiff: Believe it or not the damage from the housing “bailout” will exceed the damage from the bubble itself. It’s typical for the government to first create a problem and then exacerbate it though misguided solutions.

HP: You still rent we hear. Any thought of buying yet? What's your signal to buy?

Schiff: Not a one. In fact, with more and more rentals coming on the market, there has never been a better time to be a renter. Government “bailouts” may slow down the pace by which real estate prices fall but ultimately lead to an even bigger decline. We are still closer to the top of the real estate market then the bottom. Patience will be rewarded, especially if none of your purchase money is saved in dollars.

Peter Schiff mocks the idiots on Kudlow & Co.

Schiff was right on housing. He was right on gold. He was right on foreign stocks. And now he's right on the run-away inflation that's taking over the world.

Here's Peter Schiff on Fox News, trying to help Neil Cavuto see the light. But finding out that Neil Cavuto has no time for the truth.

Some days I feel sorry for Shiff. It must be frustrating. He's been PROVEN RIGHT about EVERYTHING and yet there are still idiots out there like Mike Norman, Tom Adkins and Neil Cavuto, who should by now see what's happening, but choose to keep their heads in the sand.

Check out this video, where Cavuto, being a complete and total jackass in addition to a fool and a tool, tells Schiff to shut up because he's boring him. Seriously, because the truth was boring him.

Poor Cavuto and poor Fox News. They want the truth to go away so much. It's just so inconvenient.

Schiff should have told him to go f*ck himself right there and then, and stormed off the set.

Schiff. Norman. Adkins. Adkins' wife's channel Fox Business. Some white guy. Youtube video. Nuff said.

You can watch the six-parts on youtube or the full thing here.

10% is in the bag! Enjoy!

Here's a video from August where Ben Stein and The Fridge give some horrific financial advice

Ben Stein does a fine job of ending his career in this August 18 video where he recommends financial stocks right before they got destroyed. But just in case, Peter Schiff is there to stick the knife in and twist.

And an added bonus - watch William The Fridge Perry say that foreign stocks and the Euro were overvalued (remember - this is from August). And we all know what happened since then. He also calls Schiff anti-American for recommending foreign stocks. Now that, in addition to being uninformed, ignorant and pathetic, well that is just shameful. But I didn't know The Fridge was a financial advisor now, did you?

Bottom line - Fox and other channels are full of idiots who have no idea what they're talking about. F*ck 'em all. And listen to Schiff.

HP Hero Peter Schiff destroys HP's new "Biggest Idiot in the Room" candidate Mike Norman, the "Economic Sheep" on this Fox News video

Hey, it's gotta be tough to be a discredited idiot like Mike Norman. When you've been proven wrong on everything, and I mean EVERYTHING, and your nemesis has been proven right on everything, and I mean EVERYTHING, you should just shut it all down and go home. Or I guess these days you go on Fox TV and make yourself look even dumber.

The funniest thing is that Mike Norman, the "Economic Contrarian", actually tries to charge people for his bad advice. "Economic Contrarian"? Man, Schiff is the true economic contrarian, and people who listened to him made a fortune and protected their wealth. Norman on the other hand is the biggest sheep there is. "Mike Norman - the Economic Sheep". Yup, that's more like it. Remember this is the same guy who thought a 10% rise in houses prices was in the bag this year. Whoops.

Watch this video. It's hot. Damn, I love Schiff. Dude is right. Dead right. Invest with him. And Mike Norman is The Biggest Idiot in the Room. Here's a bit of the transcript:

Schiff: "If you're the typical American who has dollar income who has dollar based investments, your wealth is evaporating.

Norman, The Economic Sheep: "It's not evaporating. That's total disinformation"

Schiff: "For years I've watched you on television tell people that oil was going to go down, that gold was going to go down, that the dollar was going to go up, you've been dead wrong on everything on every prediction you've ever made, and you're criticizing me?"

Norman, The Economic Sheep "You're a peddler of disinformation"