How did anyone not vote for this guy ?
#1
Posted 18 October 2009 - 10:28 PM
http://www.youtube.c...h?v=mDND5tcUFoI
Also, we should have listened to this guy, years ago. I wonder if Washington would ever do the right thing and get this guy in there to help advise the POTUS.
http://www.youtube.c...h?v=zdVP_sgCETo
#2
Posted 18 October 2009 - 10:33 PM
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#3
Posted 18 October 2009 - 10:47 PM
J m HofMarN, on 18 October 2009 - 10:33 PM, said:
Well if you care to know how the economy got so fucked up and why it is going to get worse, watch the second video. In the video, Peter Schiff, tries to warn everyone as far back as 2002 that a coming economic colapse is coming and everyone just laughed in his face. I think it's worth watching.
#4
Posted 18 October 2009 - 10:55 PM
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#5
Posted 18 October 2009 - 11:12 PM
J m HofMarN, on 18 October 2009 - 10:55 PM, said:
Yeah I guess you can call him a "doom sayer", but he was a hundred percent right in everything he predicted, truth sayer is more accurate. And he didn't have any investments in the American financials because, if you watch the video, he said they were all fucked. He owns EuroPacific capital and does all of his investing over seas where the markets are more stable. He invested in gold and tried to tell everyone that that would be the best bet in the future, lo and behold have you checked the price of gold today? And buying in now would be the stupidest thing you could do, as he explains in the video, but you already watched it so I guess I don't need to explain any farther. Nice Nazi reference btw?
#6
Posted 19 October 2009 - 12:53 AM
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#7
Posted 19 October 2009 - 01:24 AM
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#8
Posted 19 October 2009 - 10:55 AM
J m HofMarN, on 19 October 2009 - 12:53 AM, said:
Why wouldn't it be smart to invest in gold? It's gone up a shitload in the last 6 years and is on the rise. While the dollar is on the decline. I don't get your reasoning.
#9
Posted 19 October 2009 - 11:29 AM
yodawisdom, on 19 October 2009 - 05:55 PM, said:
Fun fact: Gold is being traded in Dollar and has always been a safe thing to invest in during a crisis. So, with the decline of the Dollar, people will have all the more reason to buy gold.
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#10
Posted 20 October 2009 - 08:07 PM
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#11
Posted 06 November 2009 - 07:44 PM
J m HofMarN, on 20 October 2009 - 08:07 PM, said:
There was a lot more to the video than "gold is valuable". Pretty stupid to try to argue against something you haven't even watched. Your example is stupid as well, liek omg gold hasn't increased by half in 6 months. Sorry gold hasn't doubled its freaking value in the last 6 months but that doesnt mean its not a good investment. Why don't you look at how the price of gold has risen since 03 and 04. And yeah some stocks may be having artificial booms right now cause of all the money Bernake is printing out but thats just gain in nominal terms. The dollar is on the decline and all that phony wealth will evaporate soon.
#12
Posted 06 November 2009 - 11:40 PM
The dollar is on the decline, sure, but it won't remain so. And in any event, unless youre international or happen to play currencies a lot, a lower dollar isnt such a big deal. And yes, this echo bubble as some economists call it is artificial, I honestly do have to praise you for noticing that much. However, the dividends that can be made during it are very, very real. When you buy a stock, its not like buying a house. When the price of that stock peeks you sell out of it and take your gains wherever in a day or so at the most. Therefore, just for example, if I had been really smart I could have bought into AIG at the height of its stock sales and such, and had my funds increase by 200% and then stuck that money into the bank, or bonds, or gold. Then when stocks fell again I'd buy back in. That is how money is made, through leveraging and identifying volatile stocks.
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#13
Posted 09 November 2009 - 01:21 PM
J m HofMarN, on 06 November 2009 - 11:40 PM, said:
I guess some wallstreet guys will make some very real gains but for most Americans they are not going to be helped at all by the temporary rising of stocks. I say temporary because this is only a fake rally. Our country is trillions of dollars in debt and everything the government is doing now is helping to destroy the dollar. Even China is concerned about the policy our government is executing. What happens when we can't pay them back? We either have to default on the loan or just print the difference from the FED, which will just rape the dollar even more. When the countries lending us our money see how our currency is becoming shit do you think they will continue to lend us money so we can just consume and spend all the time? There is already speculation about removing the dollar as the reserve currency, a depriciating dollar will only encourage that to happen.
Say there is an island with four different people on it. An american, an asian, a european, and an african. Since there are only four people they all assign jobs to do. The african cuts wood all day for the fire. The asian goes fishing all day for food. The european makes a fire from the wood and cooks the food. The american just sits there and eats the food. Point being eventually these other countries are going to realize they would be better off if they stopped lending America money and invested in their own countries. A weaker dollar will make this realization happen much faster.
#14
Posted 09 November 2009 - 02:36 PM
and I, err... I just thought I should throw that one in, I... uhh... gotta go.
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#15
Posted 12 November 2009 - 05:13 AM
Also, your example seems very much like a "walk into a bar" joke.
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