Schiff heads Euro Pacific Capital, a brokerage in Darien, Conn. with more than $1 billion in assets under management. He has silenced critics because he predicted the collapse of the housing market, the subprime crisis and the soaring of oil prices in his market commentaries before they came to pass.
Peter Schiff predicted US recession 2 1/2 years ago. But he was mocked and ridiculed. I wonder if any of those people are feeling stupid now, or if they've somehow revised it all in their memories or explained it away to themselves.
The current crisis is due to Federal Reserve policies which created cheap money allowing people to get way over their heads in debt, which subsequently drove the prices of real estate and other things up. This is what he was saying happened, and its what did happen. Schiff has been kicked off the air for criticizing the Federal Reserve.
Peter Schiff predicted US recession 2 1/2 years ago. But he was mocked and ridiculed. I wonder if any of those people are feeling stupid now, or if they've somehow revised it all in their memories or explained it away to themselves.
The current crisis is due to Federal Reserve policies which created cheap money allowing people to get way over their heads in debt, which subsequently drove the prices of real estate and other things up. This is what he was saying happened, and its what did happen. Schiff has been kicked off the air for criticizing the Federal Reserve.
1 comments:
Peter was mostly right about everything, except for his explicit recommendation of GLD. Other than that, I would like rent his crystal ball for 5 minutes!!!
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