32 votes

DOW hits 14,000; Peter Schiff WRONG again!

Peter Schiff just said a half an hour ago, that because the DOW hit 14,000 today; his critics would say he was wrong again, he's still mistakenly bearish on the "recovering" economy; hah!....and, he said....somebody would make a YouTube video about it!!

Well, here it is!!!

http://youtu.be/tjSMiwOpgCc

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Cyril's picture

Peter Schiff's statements accuracy at stakes?

Er... not quite sure about which, exactly, of Peter Schiff's statements accuracy is at stakes, there, but...

... is anyone STILL thinking the Dow has been doing any "good", or even, just "so so" ... over THE LAST 10 13 YEARS?

Some beg to differ:

http://www.youtu.be/dv7H7iiyBsw

And, honestly, I'd tend to agree with them, without too much difficulty.

If only for the sake of simple arithmetic.

'HTH,

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Why is this upvoted ?

Obviously somebody doesn't understand inflation, or the perversity of the dollar index.

____

"Take hold of the future or the future will take hold of you." -- Patrick Dixon

When you factor in inflation,

When you factor in inflation, it is still at 10,000 since 2009. Inflation is really at or above 10%. the official government number does not consider gas, major items that most buy at the grocery store, milk, bread, soda pop, flour, coffee, sugar, cereal, and other basic living expenses like electric, natural gas-heating oil, water, trash etc. The official government number is bogus.

There is no Left or Right -- there is only freedom or tyranny. Everything else is an illusion, an obfuscation to keep you confused and silent as the world burns around you." - Philip Brennan

"Invest only in things that you can stand in front of and pr

Lost Puppy. Answers to name of Dow. $14,000 reward.

          Lost Puppy

          Name is Dow

Please help Our Gang find our lost puppy.

Mark Twain + Dow Puppy

  • You saw him? Our puppy? Where is the magical 13,000 level? 1/08/2012
  • My DOW puppy crossed the Rubicon River! Oh my, what shall I do 11/08/2012
  • The "DOW" is the Printer-That-Be's Puppy. 11/08/2012
  • LOST PUPPY ~Answers to the name of "Dow"~ Last seen Wall St. 07/02/2012

If you see him, please contact Mark Twain @ DailyPaul.

cc: Our Gang

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

DOW hits 826,000,000 Afghani in Afghanistan.


1.00 USD = 50.8700 AFN
US Dollar ↔ Afghan Afghani
1 USD = 50.8700 AFN 1 AFN = 0.0196580 USD

▶AFN - Afghan Afghani rates, news, and tools
www.xe.com › Currency EncyclopediaThe Afghan Afghani is the currency of Afghanistan. Our currency rankings show that the most popular Afghanistan Afghani exchange rate is the USD to AFN rate.
News for Afghani in Afghanistan money news

▶Inspector general for Afghan reconstruction: Problems remain
Stars and Stripes ‎- 14 hours ago. Records related to fuel purchases for Afghan security forces ... “Bad contracting is not just a waste of money, it can actually kill people here.” ...

▶Naghma, the Afghan girl sold to be a child bride
BBC News‎ - 3 days ago

▶APNewsBreak: Afghan Massacre Trial Set for Sept.
ABC News‎ - 1 day ago

▶Afghan Police Locked Out of Own $7.3M Facility ... - Yahoo! News
news.yahoo.com/afghan-police-locked-own-7-3m-facility-report-20...– News: US Inspectors Find 12 Police Working in Building Meant for 175. ... Members of the Afghan Uniform Police are seen in their compound prior to .... The U.S spends a Million$ of the tax payers money for every mile of road ...

▶Afghanistan Media Boomed During War, But Faces Uncertain Future ...
www.huffingtonpost.com/.../afghanistan-media-afghan-war – Danish Karokhel, like all Afghan journalists, couldn't report freely during ... to The Huffington Post that money-losing... Afghan news outlets may ...

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

DOW hits 16,000,000 Iraqi Dinars! Which way will paper go?


1.00 USD = 1,164.57 IQD
US Dollar ↔ Iraqi Dinar
1 USD = 1,164.57 IQD 1 IQD = 0.000858689 USD

DOW leaves us to wonder, is this good news are not?

►Iraqi Dinar | Iraq Business News
www.iraq-businessnews.com/tag/iraqi-dinar/Jan 21, 2013 – Latest Iraq Dinar News - warning to investors, Wisconsin Dept of Financial Institutions, no dinar currency exchange and more..

►Iraqi Dinar News - Investment news about the New Iraqi Dinar
iraqidinarnews.net/Iraqi dinar news and updates. Share ideas, news about the dinar and iraqi economy in general.

►Dinar Guru - Iraqi Dinar | Gurus predict iraqi dinar exchange rate
www.dinarguru.com/The New Iraqi Dinar exchange rate is going to change. The trick is ... So these news are outstanding and let us know the imminent status of the rv. As i always ...

►Iraqi Dinar News, Information and Facts - IRAQI DINAR
iraqidinarchat.net/4 hours ago – A great source for Iraqi Dinar Information, Iraqi Dinar News and Iraqi Dinar Facts concerning Iraqi
Dinar Revaluation, Iraqi Economy and Iraqi ...
Dinarcorp.com - WELCOME TO IRAQI DINAR - Finance Committee: ...

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

DOW hits 168,000,000 Iranian Rials! Good, Better, Best?


1.00 USD = 12,272.45 IRR
US Dollar ↔ Iranian Rial
1 USD = 12,272.45 IRR 1 IRR = 0.0000814833 USD

_____________ (Persian: ریال; ISO 4217 code IRR) _____________

►IRR - Iranian Rial rates, news, and tools
www.xe.com › Currency EncyclopediaGet Iranian Rial rates, news, and facts. Also available are ... Our currency rankings show that the most popular Iran Rial exchange rate is the USD to IRR rate.

►Iran's Currency Crisis: Bad News For Mahmoud Ahmadinejad - The ...
www.thedailybeast.com/.../iran-s-currency-crisis-bad-news-fo... 4, 2012 – But almost all agree that the rial's depreciation spells very bad news for the ... So far, Iranians' frustration over the plummeting exchange rate ...

►BBC News - Iran's rial hits an all-time-low against the US dollar
www.bbc.co.uk/news/business-19786662Oct 1, 2012 – The rates were not available on the exchanges' websites later in the day. ... according to anti-government Iranian news service Rahesabz, ...
Iran currency crisis sparks Tehran street clashes | World news | The

► 0:41► 0:41 www.guardian.co.uk › World news › Iran
Oct 3, 2012
Angry protesters and foreign exchange dealers were demonstrating near ... currency-monitoring websites ...

►►PressTV - US dollar plummets against Iran's currency
www.presstv.ir/detail/2012/.../us-dollar-currency-iran/ Nov 6, 2012

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

All that newly created

All that newly created currency has to go somewhere.. and the national casino ehm stock market is one of the first places where it shows up.

Schiff is a nice guy and his

Schiff is a nice guy and his predictions are spot on except for the timing, the timing is always way off! What he predicts will come, but likely once he has given up on it! Never trade real money on Schiff's predictions!

Huh?

"What he predicts will come, but likely once he has given up on it!"

You think Schiff is going to give up on his prediction about this? Dude, he wrote a book predicting it a few years ago and another book last year about what we should do afterward. I'd like to make you the Art Laffer 1 penny bet that when it happens, Peter won't have "given up on it".

Inflation

Price the DOW in commodities and we peaked in early 2000... even the housing bubble didn't rise stocks in terms of real assets over the 2000 high.

Tools of war are not always obvious. The worst weapon is an idea planted in the mind of man. Prejudices can kill, suspicion can destroy, and a thoughtless, frightened search for a scapegoat has an everlasting fallout all of its own.

nice video..

nice video..

What a meaningless fraud the

What a meaningless fraud the DOW is anyway. Why would anyone with two braincells to rub together even care? It could be 50k - what does it really matter? Compared to what? The Dollar? A seashell? A bundle of sticks? It's large pile of bovine feces.

"The United States can pay any debt it has because we can always print money to do that." — Alan Greenspan

lol

Great vid man! Keep on rockin, and good luck with the new business proposition! :) :)

Peter was just on Closing Bell on CNBC...

HOPEFULLY someone got that video, and will post it soon....I only caught the last minute of it inbetween jobs....

Amazing people ARGUE with him...and defend the FED's printing....

Schiif

Is the man. I would love to see himn in a debate. If people thought that someone as lame as Mitt Romney crushed Obama in the debates, then Peter Schiff would steam roll Obama and the moderator.

Schiff's pretty good, but

I would put Tom Woods agaisnt anybody in the political and/or American history realm. Schiff likes to play the dominant game, but Woods knocks them out with wit and empirical fact! Where's that coward whiny-mouthed Marc Levine?

Tom Woods for President.

Tom Woods for President.

I love Tom Woods as well...

Tom Woods is so well spoken and intelligent, he puts 99% of economists and historians to shame.

However, I do not think he would be as good at debating as Peter. I have looked and looked and I have only found a few times where Tom has been in a debate and those were on programs that were left-leaning and would not let him even finish his sentences.....I assume because they knew he would makes sense and totally debunk their revisionist ideologies.

Peter, on the other hand is a pit-bull on a chain just waiting to debate anyone! He has that brashness that is required when trying to argue where Tom is more eloquent.

Here is my dream two man team debate match up, Peter Schiff & Tom Woods versus Paul Krugman & Ryan Clayton.....GO!

Not going to argue

Tom Woods has knowledge of multiple subjects.

Not sure if your about peter shift or the dow

The dow is an index in a industry thats fixed. Just like a fixed magnet on a roulette wheel. Both the Government and the Private Rothschild Federal Reserve Bank Corporation have unlimited access to digitized money and manipulate the market so we end up with a dow figure thats is about as accurate as the unemployment figures.
While the nation is on food stamps and at several multiple wars including a war upon its own people how with the jobs and industry shipped to the rothshcild china province with the multi trillion dollar debasment of the sovereign curency and the police state not to mention the shut down of the family farms of previous generations. Exactly how could you think that market would be on a legitimate uptick in a depression?

Its just one more illusion.

sovereign

Exactly this

Not only are all of these "economic data points" deliberately manipulated to be complete horseshit at this point, a form of sophisticated social engineering? Even if they weren't (deliberately manipulated):

The underlying foundations of the Real global and national economy are so hosed and inflated with Fake fiat currency and artificial instruments like derivatives anyway - that indicators like the Dow are naturally completely divorced from reality.

The stock market is not actually 'connected' to whats really happening anymore - in any real day-by-day meaningful way - anyway. So it's totally unreliable as an indicator.

Totally.

If..

the media showed a version of the DOW charts recalculated with respect to the decline of the $ since say, 1990, then Schiff's critics wouldn't be so noisy. Matter of fact they would probably just be silent and go find something else to do! :)

.
~wobbles but doesn't fall down~

If it showed the decline since 1913, it would be negative.

Bankruptcy & all, the disappearing original gang & their lost puppy. Mark Twain + Dow Puppy

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

Where can I find one?

I would love to see that chart but don't see any that go through end of 2012. I did enjoy seeing the ones that go through about 2008 though. They really put things in perspective.

Here's one...

from shadowstats showing "adjusted for inflation":

http://inflation.us/images/dowjones.png source: http://inflation.us/charts.html

***the green line is shadowstats or the "real" values

The "adjusted for inflation" is not the same as "decline in dollar" which shows a more severe decline in the DOW. "Decline in dollar" charts are harder to find. If I find one I will post.

Since the DOW is indexed by the dollar you can also just look at any of the various charts of the value of the dollar (there are many controversial versions of the calculations) to get an idea of the dynamics. Here is one:

http://www.businessinsider.com/the-dollar-and-gold-a-20-year...

It is a conservative estimate that the $ has lost 50-60% of its value since 2001-2002 which means a DOW of 14,000 in 2001 would need to be 20,000+ now to have the same value...

.
~wobbles but doesn't fall down~

Exactly

the Dow vs gold there is no need to discuss. It is way down.

It is only up because of funny money not any real gains.

nice video

And I hope Peter takes you up on your offer. Sounds like a really good deal.

Anyone else feel defensive?

LOL!
Priced in Gold, Today, 2006 and 2000

DJI: 250gAU down from 600 down from 1200g
http://pricedingold.com/dow-jones-industrials/

S&P 500: 25gAU down from 70 down from 160g
http://pricedingold.com/sp-500/

Nikkei: 2.2gAU down from 8g down from 20g
http://pricedingold.com/nikkei-index/

Toronto Stock Exchange: 220gAU down from 600 down from 700
http://pricedingold.com/toronto-stock-exchange/

Since 2009 all for markets have essentially flat-lined when priced in Gold.

The $FRN lost 8% against Gold since 2009.
The $FRN lost 44% against Silver since 2009.

Nearly all commodities tell a similar story.
The $FRN is losing purchasing power.
http://pricedingold.com/us-dollar/

Free includes debt-free!

I remember Ron Paul pointing out that the most 'successful'

stock market in 2007 belonged to Zimbabwe....

Integrity means having to say things that people don't want to hear & especially to say things that the regime doesnt want to hear -RonPaul