Peter Schiff commented on a video on YouTube.
Once again you are mistaken. You played part of an interview from 2002 when I was still bearish on the U.S. markets. However you fail to point out that I had been bearish on the markets for quite some time prior to that interview. I first began forecasting that the Nasdaq would fall to 500 when it was above 5,000. You also leave out that stocks fell quite a bit further in the months following that interview. But most importantly you omit that within a year of that interview, as a result of the Fed's reckless rate cuts, I became very bullish on stocks in nominal terms. So I reversed my call for Nasdaq 500 and Dow 4,000, but I remained bearish on stocks priced in gold. In gold terns, the Dow is still much lower today than it was in 2002. Sure you can always find selective clips where I was bearish on stocks at a particular point in time, but there are many more clips where I was bullish. It is also not true that I am only bullish on stocks near market peaks and bearish near the lows. There is plenty of video evidence as well as the actual investments I have made for myself and my clients that contradict your claim. Your video is so highly biased that it boarders on liable. I think you own me a legitimate apology rather than sarcasm.
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- Mak Muk+1HAHA Schitty Pete Tard JUST ADMIT THAT YOU ARE WRONG PIECE OF SCHITT !!!Dec 28, 2014
- flips his calls often when necessary, he has to, the market is not stagnant, and this is part of his brilliance. By cherry picking moments in time can always make something appear to be what it isn't. Simply because he thinks an event or market change is likely 10 years ago doesn't mean he thinks it's likely today. Market conditions change and so do his calls right along with them. His overall premise is unchanged.
I have yet to see someone criticize his recent excitement over gold breaking through €1000. Yet another example to add to the "Peter Schiff was right" videos. He inadvertently predicted the Swiss unpegging from the Euro if you ask me.Jan 16, 2015
- Peter Schiff had predicted that in 2014 the Fed would stop tapering and reverse course, launching additional QE. At the time he was making these predictions, I called him out. I suggested he'd likely be proven wrong. He was proven wrong.
Do I think he owes me an apology? No. A vow to stop making rash predictions would suffice.
A few years ago, I made some rash predictions about the silver market that were proven wrong. I learned my lesson. Has Schiff learned his?
On Feb. 8, 2014, Schiff put out a video titled "Market Headed Lower Until Taper Reversed". That was right near the lows for the year in U.S. stock indexes. The market headed higher, and the taper wasn't reversed.
On Dec. 28, 2013, I uploaded a video called "Bitcoin: A Mania in Nothing". That was right near the top in Bitcoin, which I warned was in a mania that would end badly. Did I accurately call the top and predict Bitcoin's subsequent fall by more than 70%? In all honesty, no. The neat timing of my video's release at the top was as much luck as skill.
That's how it is with "successful" prognosticators. Sometimes good luck makes them look smart. But no one can outsmart the market consistently. Peter Schiff demonstrates the validity of this generalization via his track record as a contrarian forecaster.Jan 16, 2015
- "Market Headed Lower Until Taper Reversed"
Good point. He definitely gets a few of the details wrong here.Jan 16, 2015
- +Peter Schiff You are a con artist pretending you are an 'economic expert' and financial fortuneteller! You owe an apology to ever single Joe that you fear mongered, so you can make a worthless FIAT piece of paper off of them. Pathetic!
You come to my channel and let me know when your economic apocalypse comes. Remember Petey! *'It just hasn't happen yet!' IT'S COMING! Loser!Feb 6, 2015
- Predictions have never interested me and I don't think that is what you are about. You are sharing principled analysis in an entertaining almost conversational way.
I agree with all your stated principles and I respect your opinion. I sometimes wish you took more time with your pod casts..that you made fewer "speak-os" and offered fewer predictions but if you became too polished you'd probably seem less genuine. You are like a friend who is willing to talk about this wretched economy and its confederacy of dunces in the media when all my other friends find the topic depressing and me an obsessive pessimist who they accuse of "wanting IT to happen". I want the Economy to collapse in the same way I want 2 plus 2 to equal 4....Any other outcome is inconceivable. What I want is immaterial. If it weren't - I'd want the miracle of peace, joy and prosperity for all regardless of our behavior.May 10, 2015
- Hello! McFly!! There is no collapse, hyper inflation, bond implosion or whatever other nonsense you or Schiff can come up with. You both need to go get an economics degree. Till then you clowns need stop talking about topics you both don't understand! Something bad will happen eventually is useless information! As the last seven years have proven. Which i told you so years ago on my channel! You're wrong about everything deal with it and move on.May 10, 2015
- For a laugh, you shoudl check out my "ridiculing Stefan Molyneux" playlist. It has 100+ vids so far.Jun 4, 2015