will there be a QE 3 ?

Oh, you mean you don't want Obama to serve another term? It would be good for your gold investments!

 

LOL of course I want him to win so that I can buy my ferrari


But seriously, compared to Obama Ron paul is all roses

And I like Ron Paul actually, he is the only chance the US has right now!

 

There are plenty of reasons to doubt Schiff.

Oct 2009
The worst is not over, according to Euro Pacific Capital's Schiff, who predicts the Dow will fall another 90% from current levels when measured against gold.

A longtime dollar bear and gold bull, he foresees gold hitting $5000 per ounce "in the next couple of years," and predicts the Dow and gold will trade on a one-to-one ratio vs. the current level of around 9.7-to-1.
http://finance.yahoo.com/tech-ticker/article/342802/Peter-Schiff-U.S.-Rally-Is-Doomed-Gold-Will-Hit-5000?tickers=^DJI,GLD,EPHCX,FXI,EEM,GDX,^GSPC

The Dow would be at about 1600 now if that prediction were accurate!

+++

Peter Schiff Predicts $2,000 Gold in 2009
http://www.goldstockbull.com/articles/peter-schiff-predicts-2000-gold-in-2009/

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Schiff in Oct 2008: In the end, by refusing to allow market forces to work their cure, our economy will inevitably die from the disease. Our economy will now face death by hyperinflation, which will cause a complete loss of confidence in the dollar and result in prices and interest rates skyrocketing out of sight. The evaporation of our national wealth will lead to civil unrest, food and energy shortages, and the possible imposition of marshal law. If such a scenario unfolds, what is left of our Constitution will surely be completely shredded.
http://www.europac.net/newsletter/newsletter15.htm#shiff

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"The big, big story of 2005 could be the collapse of the dollar."
-- Peter Schiff, founder of Euro Pacific Capital in Newport Beach, Calif., Jan. 2, 2005

+++

2002
Schiff predicts a severe bear market in the next couple years, with substantial inflation, the Nasdaq going to 500 and the Dow 2000 to 4000, and maybe below 2000.

http://seekingalpha.com/article/1068...hiff-right-now

 

I am willing to bet that gold will eventually hit 5,000 dollars per ounce especially when the currency crisis hits! And yes, compared to "REAL" money like gold the DOW will lose 90% of its value!

And so if not in 2 years its 4 years so what? Nitpicking again are we?

 

He measured it in Gold, not USD. So he isn't wrong.

As for everything else, yeah because his predictions on hyperinflation and the price of gold aren't 100 percent means there is reason to doubt him. Gotcha.

What else you got?

 

Iriemon likes to nitpick so don't mind him

 

He and Akphidelt are probably the two most annoying people I've ever encountered.

 

So did I. He's wrong by about 10,000 points on the Dow.

Looking at one right prediction and ignoring all the wrong ones is not a basis to claim "don't doubt Schiff" IMO.

 

I know, those "nitpicking" facts are so inconvenient. Sorry to bug ya.

 

Well sure, if you change what he predicted, he's not wrong!

 

I'm not so sure you are right. Did you use a Dow Jones/Gold Index?

It's actually more than one right prediction. He's pretty much been right about ever crash, bubble, government action and stock price.

And predictions take time to come to fruition. That's why they are predictions.

 

The prediction in Oct 2009:

The worst is not over, according to Euro Pacific Capital's Schiff, who predicts the Dow will fall another 90% from current levels when measured against gold.

A longtime dollar bear and gold bull, he foresees gold hitting $5000 per ounce "in the next couple of years," and predicts the Dow and gold will trade on a one-to-one ratio vs. the current level of around 9.7-to-1.

In Oct 2009, the Dow was in the 10,200 range and gold in the 1050 range, about 9.7x.

If the Dow were drop 90% measured against that price of gold, the Dow it would be at 1,020. Since then the gold has increase to about 1600 currently, which is a 52% increase. A commensurate increase in the Dow would put it at 1550. At 1550 the Dow would have dropped 90% when measured against the current price of gold.

Or alternative, a 1-1 ration would put the Dow at 1600.

Not even close.

Someone who constant claims we're heading for a crash would be right 100% of the time.

Predictions can not only claim some future event but when it will happen.

Anyone can predict gold will hit 5000 some day. Over the course of decades even a small rate of inflation would make that true.

But Siff was claiming we'd be seeing that now or pretty close to it.

 

Again, because it hasn't happened means that there is reason do doubt him? Dow Jones dropped to it's lowest point at 6,594. Gold was barely a thousand dollars an ounce ($974) and the Dow Jones to Gold ratio was 6 - 1 from it's an 2008 52 week high of 12,891 when the Dow Jones to Gold Ratio of 14 - 1. That's more than a 50 percent drop in value and that is a 42 percent drop when it comes to Dow Jones worth in gold.

Since then Gold is up 52 percent and the Dow Jones has only recovered 60 percent it's value in USD. Every year Gold increases the Dow Jones decreases. Sooner or later with the rate we are going you will see that 1 - 1 ratio. It is getting closer to that value.

That is not the same thing. It's always a matter of when. It's a matter of if and how. Just saying that there is going to be a Crash is not enough. No one thought there would be a crash, especially in the Housing Market. The leftist were predicting a crash. They were all just rooting for failure. They had no idea in which part in the economy.

 

When he says two years ago it's going to happen in the next couple of years, and its a couple of years later and his prediction isn't even in the same universe, much less ballpark, is a reason for an objective person to doubt him, IMO.

That was all before he made his prediction in Oct 2009.

That has been true of the last several years. It is certainly false to say that happens every years. Gold is close to its all time high and stocks are below their levels 12 years ago. Will gold continue to quadruple and stocks stagnate? Could be, but I wouldn't bet on it.

I predict we will have a crash and gold will hit 5000.

Now you have no reason to doubt me like Schiff.

 

He has always said that he could be wrong. He has always said that he hopes that he is wrong. He said himself that just because he was right in the past doesn't mean that he will be right in the future.

I am merely saying that there is just no use trying to disagree. He has been laughed at, ridiculed and mocked all throughout the decade and where did it get him.

People make predictions based on indicators.

I'm not saying that it happens every time. I'm saying that the market is following a trend. The Dow Jones is decreasing in value and Gold has been increasing. Not the levels Schiff pretended but things take time to filter through. You have to remember these assumptions are based on whether or not the economy improves or not.

Well why should I consider your prediction? You were probably rooting for failure and predicting a market crash just like I was during that mean ol Bush Administration.

 

Same reason you don't doubt Schiff. Anyone can predict we will have a crash and gold will go up.

 

Not doubting and not agreeing are two different things. He things the crash will be in Bonds. That would certainly make the price of gold sky rocket.

 

we will have a crash and gold will go up...there ......I said it

 

yup.....ginto should skyrocket and all those fools holding onto municipals are going to get slaughtered!

 

even now, Schiff always ballparks...its usually the ignoramuses that try to put a date on what he predicited. I too agree that a crash in treasuries and the dollar is coming.....but its hard to say when the bond vigelanties will throw in the towel. Still I will stick to my prediction of 2012 to 2013

 

Actually, that is one of the few things I don't like about Peter Schiff (and there are VERY few things) - he makes too many bold predictions with specific dates.

He has been right many, MANY times.

But he has also been wrong (in terms of time frame).

And every time he is off by just a year...Keynesians jump all over it and say 'see'.

More seasoned Austrian Schoolers like Jim Rogers and Marc Faber seem to realize that there is nothing to be gained by giving specific dates. Better just to give general time frames.

I think you will find that Peter Schiff does not give specific dates as often as he used to...he has wised up (I assume).


BTW - I agree 100% with his general outlook on the US economy.

It's going to tank...probably much worse then in '08.

When? Relatively soon.

 

has QE 3 been announced yet?

 

nope !

 

I think he knows that predicting exact time frames is next to impossible so this is why he is more general now in his statements!

 

actually, I enjoy watching the youtubes with Peter Schiff