Thread: Peter Schiff on JRE
07-21-2020, 07:18 AM
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#31
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Listened to it. He's correct on all accounts. However, I think the government keeps inflating the bubble for another 30-40 years. I wouldn't get out of stocks nor would I run away from leverage.
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07-21-2020, 07:20 AM
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#32
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The bit on how college tuition bubbled and the irony that people want free tuition was pretty good.
Joe is out of his element when talking about economics. Lots of feeling from him!
Joe is out of his element when talking about economics. Lots of feeling from him!
07-21-2020, 07:21 AM
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#33
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"euro pacific"
the pacific ocean isn't even attached to europe. You can't trust any company named like that.
the pacific ocean isn't even attached to europe. You can't trust any company named like that.
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07-21-2020, 07:30 AM
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#34
07-21-2020, 09:37 AM
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#35
Originally Posted By NsaneOne⏩
Lucifer is an honorable man as far as I can tell.I genuinely believe you would have honored what you said had he not mentioned gold for some reason. I feel like I can trust you.
Originally Posted By MediocreGains⏩
If you are into miners what about rare earth elements? Stuff for batteries? Does China have most of it locked down?I’m in NEM, PAAS, AG, and THM. GDX and SIL are gold and silver mining ETFs respectively.
That said, entry point matters with precious metals since they don’t always go up in the long term. I think they’ll keep going up if the economy remains weak and the Fed keeps printing, but they’re already up a lot so I’m not sure if now is a good time to buy. And if the stock market crashes, these will drop along with everything else, at least temporarily.
That said, entry point matters with precious metals since they don’t always go up in the long term. I think they’ll keep going up if the economy remains weak and the Fed keeps printing, but they’re already up a lot so I’m not sure if now is a good time to buy. And if the stock market crashes, these will drop along with everything else, at least temporarily.
Originally Posted By luckyboy23⏩
I could collect nickles.If you're gonna do the precious metal thing, buy coins and bullion.
Originally Posted By PermaBulk610⏩
See below:I don't know. Schiff seemed to make a ton of sense to me. How is it possible that the fed printing money the way they are doesn't end up biting us some how? This does not seem sustainable at all. Massive national debt, seemingly unlimited quantitative easing, and they're basically shutting the country down again. That means either people will be homeless and poor really soon, or MORE free fed money. Someone teach me something please.
Originally Posted By CalmWind⏩
Trying to make it simple for you three.
- The US economy is broken and will collapse. Not a matter of "if", but a matter of WHEN. This is certain.
- However, US politicians will not allow us to fix the economy, which will take a lot of pain and bankruptcies. They want to get re-elected. They don't want the stain on their name.
- So, they are using tools such as inflation, aka Quantative Easing, printing money, and going further into debt, to artifically prop up the economy
- They have been doing this for at least 15 years, and will continue to do it until we can't do it anymore
Just because the dollar hasn't collapsed yet, does not mean Schiff is wrong. It simply means the doctor is keeping his brain dead patient on life support for as long as he can, and refuses to call a time of death.
- The US economy is broken and will collapse. Not a matter of "if", but a matter of WHEN. This is certain.
- However, US politicians will not allow us to fix the economy, which will take a lot of pain and bankruptcies. They want to get re-elected. They don't want the stain on their name.
- So, they are using tools such as inflation, aka Quantative Easing, printing money, and going further into debt, to artifically prop up the economy
- They have been doing this for at least 15 years, and will continue to do it until we can't do it anymore
Just because the dollar hasn't collapsed yet, does not mean Schiff is wrong. It simply means the doctor is keeping his brain dead patient on life support for as long as he can, and refuses to call a time of death.
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07-21-2020, 09:50 AM
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#36
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I generally agree with his point that western economies can't keep de-facto defaulting on their debt by printing money and inflating it away without longer-term consequences. I think we're already starting to see weakening confidence in the dollar and that trend will continue. I think the timing is impossible to call because so many other countries are also printing money like crazy. Realistically, would you seriously rather invest in the EU right now than the US? Definitely not. I think very long-term, however, saver economies with more prudent deficits/spending will rise, which is why I'm increasing exposure to emerging economies in Asia particularly (no, not just China).
07-21-2020, 09:52 AM
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#37
Originally Posted By GriecoR⏩
Lmao this.I watched the episode in the background. It was awful. Peter wouldnt **** the **** up and joe ended up getting high and just trolling peter.
It was a really frustrating listen 😡
07-21-2020, 09:57 AM
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#38
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Oh man good ol Pete.
I can never tell if this dude is right, wrong, or just trying to sell gold. He totally called the 2008 crash. He's been calling for another one for the better part of a decade and always tells people to buy gold as a hedge. However, that has not happened yet. His reasoning makes perfect sense, but he owns Schiff Gold which is a massive conflict of interest.
I can never tell if this dude is right, wrong, or just trying to sell gold. He totally called the 2008 crash. He's been calling for another one for the better part of a decade and always tells people to buy gold as a hedge. However, that has not happened yet. His reasoning makes perfect sense, but he owns Schiff Gold which is a massive conflict of interest.
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07-21-2020, 10:11 AM
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#39
Originally Posted By KennyFisher⏩
There is a crash imminent, likely in 2021, but you would still be stupid to heavily invest in gold right now.I mean....on Gold he has been bang on...
Little doubt the US is in a technical recession.
Little doubt the US is in a technical recession.
Gold is going to be overvalued when a looming recession is this obvious. Wait for the chumps to move most of their liquid funds to gold, gold will get a bump and then watch all the cash-strapped investors start selling when they can no longer pay for their daily lives. The gold price will take a big dip and then you pick up the pieces.
If you wanted to buy gold you should have done that 5 years ago, the current gold price is near the 10 year high of $1,900, if you buy gold now you're asking to be punished.
My plan is to keep my funds liquid and buy up all the real estate when the market crashes in 2021.
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07-21-2020, 10:12 AM
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#40
07-21-2020, 10:18 AM
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#41
Originally Posted By Abzu⏩
When the market crashes in 2021 according to you, will it fall belowcurrent levels?My plan is to keep my funds liquid and buy up all the real estate when the market crashes in 2021.
𝕮𝖍𝖆𝖘𝖊 𝖆 𝖈𝖍𝖊𝖈𝕶, 𝖓𝖊𝖛𝖊𝖗 𝖈𝖍𝖆𝖘𝖊 𝖆 𝖇𝖎𝖙𝖈𝖍
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07-21-2020, 10:52 AM
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#42
07-21-2020, 11:55 AM
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#43
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Dollar has gone down hard today. That can't be good.
Gold mines are largely in the US, South Africa, and several other countries. Silver mines are mostly in Mexico and South America. But yes, sometimes there can be problems with foreign governments. AG is going through some tax issues with Mexico.
Originally Posted By katya422⏩
Don't know a thing about rare earth elements. Precious metals are a pretty different play, although silver has a lot of industrial uses.If you are into miners what about rare earth elements? Stuff for batteries? Does China have most of it locked down?
Gold mines are largely in the US, South Africa, and several other countries. Silver mines are mostly in Mexico and South America. But yes, sometimes there can be problems with foreign governments. AG is going through some tax issues with Mexico.
Originally Posted By Luc1fer⏩
That's always the issue. Even if we crash, which no one really knows when will happen or even if it'll happen at all in the near future, S&P could already be at 4000+ and gold at 2500+ from all the Fed printing. Or maybe we crash before that. I have no idea.When the market crashes in 2021 according to you, will it fall belowcurrent levels?
07-21-2020, 01:04 PM
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#44
Love me some Peter Schiff. I agree on him on just about everything even though he's always gonna shove some gold talk on ya lmao. As for the impending crash, I believe he's right, but it's kinda obvious. Unfortunately, being too early on things like this can cause a lot of opportunities in the near term.
Also, vote for small govenment my *******s.
Also, vote for small govenment my *******s.
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07-21-2020, 01:09 PM
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#45
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I dealt with his dad Irwin when I was at a prior firm. Guy fought to the end.
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07-21-2020, 02:45 PM
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#46
Originally Posted By MediocreGains⏩
Indeed we will probably correct hard within the next decade (as per historical events/probabilities), but will the bottom be lower than today. Nobody knows.That's always the issue. Even if we crash, which no one really knows when will happen or even if it'll happen at all in the near future, S&P could already be at 4000+ and gold at 2500+ from all the Fed printing. Or maybe we crash before that. I have no idea.
Right now, if SPX corrected 50%, it would still be higher than every point beyond June 2013.
Schiff in 2012:
> The controversial investor and commentator expects a massive crash over the next two to three years as a bond market bubble, coupled with the U.S. dollar, collapses under the weight of excessive debt.
viahttps://www.forbes.com/sites/afontev.../#7f1408141c9d
𝕮𝖍𝖆𝖘𝖊 𝖆 𝖈𝖍𝖊𝖈𝕶, 𝖓𝖊𝖛𝖊𝖗 𝖈𝖍𝖆𝖘𝖊 𝖆 𝖇𝖎𝖙𝖈𝖍
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07-21-2020, 03:04 PM
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#47
Originally Posted By GordonXXX⏩
lmfaoSchiff is a genius. He's predicted 19 of the last 2 market crashes.
𝕮𝖍𝖆𝖘𝖊 𝖆 𝖈𝖍𝖊𝖈𝕶, 𝖓𝖊𝖛𝖊𝖗 𝖈𝖍𝖆𝖘𝖊 𝖆 𝖇𝖎𝖙𝖈𝖍
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