Peter Schiff, Max Keiser, Jim Puplava, Jim Rogers, Bob Chapmen and other investment analyst's guilty of HYPOCRISY......Maybe?
OK we have been watching their clips from t.v and listening to their radio shows and podcasts. They are for the most part the only speakers of truth and for that they are appreciated.
However I get very weary of them crying out for attention concerning how correct they have been about the current financial crises and moreover their constant harping on the subject that America does not produce anything anymore.
A statement that is again true, however, these very successful financial investors in fact also produce nothing. These men work in a field that actually encourages companies to worry more about how much their stock is worth and how much the dividend's will pay. Sucking money away from compensating employee's fairly and a chance for quality health insurance. Away from research and development and expansion plans.
A recent caller to Peter Schiff was highly concerned because of the million dollar loss to his portfolio. Of course Schiff mostly recommends over sea's stocks for investment.
This brings up an interesting thought.
Somebody is worried that their investments in America are declining and Shiff's answer is to invest your money in over seas companies which as we know pay slave like wages with no benefits, some use child labor for little pay and even some use out and out slaves to undercut any manufacturing jobs in America. Then selling the products to Americans like this somebody so he can sit on his ass and make 10% interest on his money so he and his wife can afford to eat at Chez Stuff Your Face for $200 a night go out to the $100 dollar a ticket play and come home to complain about the terrible state the American economy is in.
Now maybe I'm not 100% right. But it seems to me that anyone involved in the manipulation of money to make money is not "producing" or helping to "produce" anything here in America.
Does this seem at least a little hypocritical?
No
No
Many service jobs are
Many service jobs are important, but production is the core of our economy.
...
Jim Sinclair's latest e-mail tonight
Quantitative Easing: The Kick Start Of Gold’s Move To $1200 and $1650
Posted: Nov 30 2008 By: Jim Sinclair Post Edited: November 30, 2008 at 10:34 pm
Filed under: General Editorial
Dear Friends,
It is not a coincidence that the appreciation in the dollar and fall in the euro both began to lose their respective momentum when it became clear that Quantitative Easing was now the primary strategy of the Federal Reserve. This method does not replace other methods, but is instead an addition to the multiple other approaches already in place.
In the same timeframe it appears the last of the weak longs exited the energy group.
I believe that the advent of Quantitative Easing is the beginning of Gold’s move to $1200 and $1650.
I believe the dollar rally is done at Harry Schultz’s PO of .88-.89 on the USDX.
The low in the euro has occurred.
All of this is a product of Quantitative Easing without sterilization.
When Bernanke referred to the Helicopter Drop of electronically created money without limits, he was referring to the following now famous speech:
Deflation: Making Sure "It" Doesn’t Happen Here
Remarks by Governor Ben S. Bernanke
Before the National Economists Club, Washington, D.C.
November 21, 2002
Since World War II, inflation–the apparently inexorable rise in the prices of goods and services–has been the bane of central bankers. Economists of various stripes have argued that inflation is the inevitable result of (pick your favorite) the abandonment of metallic monetary standards, a lack of fiscal discipline, shocks to the price of oil and other commodities, struggles over the distribution of income, excessive money creation, self-confirming inflation expectations, an "inflation bias" in the policies of central banks, and still others. Despite widespread "inflation pessimism," however, during the 1980s and 1990s most industrial-country central banks were able to cage, if not entirely tame, the inflation dragon. Although a number of factors converged to make this happy outcome possible, an essential element was the heightened understanding by central bankers and, equally as important, by political leaders and the public at large of the very high costs of allowing the economy to stray too far from price stability.
With inflation rates now quite low in the United States, however, some have expressed concern that we may soon face a new problem–the danger of deflation, or falling prices. That this concern is not purely hypothetical is brought home to us whenever we read newspaper reports about Japan, where what seems to be a relatively moderate deflation–a decline in consumer prices of about 1 percent per year–has been associated with years of painfully slow growth, rising joblessness, and apparently intractable financial problems in the banking and corporate sectors. While it is difficult to sort out cause from effect, the consensus view is that deflation has been an important negative factor in the Japanese slump.
So, is deflation a threat to the economic health of the United States? Not to leave you in suspense, I believe that the chance of significant deflation in the United States in the foreseeable future is extremely small, for two principal reasons. The first is the resilience and structural stability of the U.S. economy itself. Over the years, the U.S. economy has shown a remarkable ability to absorb shocks of all kinds, to recover, and to continue to grow. Flexible and efficient markets for labor and capital, an entrepreneurial tradition, and a general willingness to tolerate and even embrace technological and economic change all contribute to this resiliency. A particularly important protective factor in the current environment is the strength of our financial system: Despite the adverse shocks of the past year, our banking system remains healthy and well-regulated, and firm and household balance sheets are for the most part in good shape. Also helpful is that inflation has recently been not only low but quite stable, with one result being that inflation expectations seem well anchored. For example, according to the University of Michigan survey that underlies the index of consumer sentiment, the median expected rate of inflation during the next five to ten years among those interviewed was 2.9 percent in October 2002, as compared with 2.7 percent a year earlier and 3.0 percent two years earlier–a stable record indeed.
More…
The following articles should also be reviewed.
The Age of Producing Nothing in America
Another example of producing nothing.....
This is a rewrite of a former post of mine about how non producing businesses have violated the property rights of their competitors.
Over the past 100 plus years, a fortune was invested by the former AT&T on telecom technology, materials and equipment, and labor to make a world wide communication network. It was an accomplishment of major benefit to mankind. Even with today's wireless technology, the telecommunication industry continues to provide services essential to businesses and many residential customers.
Qwest Communications....one of the former "baby bells" before Judge Greene deregulated AT&T in 1984, is located in the western United States and is made up of many states with vast unpopulated areas. After deregulation, rival telecoms started up with the blessings of state and federal government and with unrealistic and unfair regulations placed upon Qwest and the other telecoms.
Rival companies that installed absolutely no telephone plant and in essence, were a masthead on paper only, were allowed to use Qwest's property and resell it at large discounts....looting at its most extreme. These upstart companies had no regulations. As time went on, and after the rival telecoms started to build their own networks, they were not required to serve unpopulated areas or other less profitable customers, while Qwest and the other former baby bells continued to provide service to isolated customers in large unpopulated states at profit losses. These rival companies were in fact just empty shells. They were parasites. They had the blessings of the FCC, Congress, and state legislatures. They produced nothing. This was nothing but government sanctioned violation of property rights.
A 2003 article from the Mackinac Center for Public Policy stated:
"Modern telecommunications is a mind-boggling marvel of software, switches and electromagnetic spectrum. But telecommunications policy doesn’t have to be complex if guided by fundamental American principles.
Among the most basic of these principles is the protection of private property rights. But violation of this principle is the defining feature of current telecom policy, and the primary cause of its failure.
This report documents this policy misstep that has cost workers their jobs, investors their savings and consumers the benefits of a robust telecom market. We also recommend solutions grounded in sound economic principles that would help to restore rationality in telecom policy. Failure to institute reforms will inhibit technological innovation and economic growth, as well as undermine the reliability and security of our communications network.
The core of state and federal telecom policy for local calling is the requirement that wire line companies such as Verizon, BellSouth, SBC and Qwest allow rivals to utilize their networks at below-cost rates. We refer to this requirement as “forced access” throughout the report.
Violation of property rights is the defining feature of current telecom policy.
All too predictably, this regulatory approach, an obvious violation of property rights, has significantly skewed investment incentives and undermined technological innovation. And it hasn’t even produced the outcome Congress intended."
http://mackinac.org/article.aspx?ID=6031
This is just another example of manipulating money without building or producing anything. It may be easy to rationalize, but America has become all but impotent the past couple of decades.
Say it ain't so!
"And it hasn’t even produced the outcome Congress intended"
But I'll bet it produced the outcome the lobbyist intended.
"Violation of property
"Violation of property rights is the defining feature of current telecom policy.
All too predictably, this regulatory approach, an obvious violation of property rights, has significantly skewed investment incentives and undermined technological innovation. And it hasn’t even produced the outcome Congress intended."
yep, THIS is what occurs when you dont have truly free market captialism.
There are worse things than hypocrisy....
but I'm not sure that I would even classify what they are doing as hypocritical.
I also have been highly critical of America's shift to a "service economy" for reasons that are becoming all too apparent.
The lack of a manufacturing base does make our economy too vulnerable.
Yet I am a physician; I don't "make" anything.
Does that make me a hypocrit?
The REAL hypocrits are the NWO politicians (from both parties) that decry the working conditions of third world countries, but continue the inflationary deficit spending that dooms American corporations trying to compete on a global scale.
They are also the same ones who have been telling us for years that the manufacturing jobs would all be replaced by high paying white collar or technical postitions and that all the American workers needed was to be retrained. (Meanwhile they were opening the floodgates so that H2B visa immigrants could fill the limited number of high tech jobs that were actually available.)
I wish you would reserve most of your criticism for the true hypocrits who are CAUSING the problem.
The MSM does not need your help in shooting (or ignoring) the messengers.
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Money As Debt
http://www.youtube.com/watch?v=vVkFb26u9g8
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******************************
"Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive."
Wrong
You "make" people well.
Plus I'm willing to bet you don't see a lot of investment capital at your practice.
I am a fan of these men. I enjoy there work. I was not trying to criticize them.
Its just hard to watch them continue to say America doesn't make anything anymore. Yes we all know that fact. Now give some ideas on how to turn it around. Protecting assets is not going to help. Investing them in production by America would be much more prudent.
"Investing them in
"Investing them in production by America would be much more prudent."
Why, so they can only be bankrupted through regulations, minimum wage, corporate taxation etc?? There're multiple reasons why many are no longer starting up businesses here and why the one's that were here left.
Ok
So lets all just give up and leave this country to die!
FYI
Learn how to use an apostrophe.
I'm guessing you learned to write in an American public school. Even so, there's no excuse for getting apostrophes wrong.
An employee who gets payed unfairly can just quit and get another job. If he can't get a higher paying job, then the salary isn't unfair.
For someone being a grammar
For someone being a grammar nazi it helps to solidify your stance when you don't make grammar/spelling mistakes of your own, especially in the same post.
"An employee who gets payed (paid) unfairly can just quit and get another job."
It sure does
I recall "payed" being used in writing, and it turns out to be an obsolete spelling. English is my third language, but having studied it since a teenager I should've gotten this right. Thanks for the correction.
No prob. Hope you didn't
No prob. Hope you didn't take my post the wrong way ;)
How could he take any other way
but then how every nazi means it.
Pretentious
Condescending
Better than you know it all
This from a member of a site dedicated to stamping out tyrranny
HI flavio and thanks for the grammar correction. Please continue to help me along. I guess my English teacher could not find a better paying school due to their misuse of apostrophes so they were stuck teaching me.
So as American jobs leave the country giving me less options to choose from because companies have found cheap labor elsewhere I simply must except what I can't live on?
Do you approve of the NFL and it's contract with the employees? Are you familiar with the details?
Tell me flavio. Do these employees have the right to strike against there employer? Who decides what a fair wage is?
"I guess my English teacher
"I guess my English teacher could not find a better paying school due to their misuse of apostrophes so they were stuck teaching me."
That or you could have just been a poor student, but yeah, let's just blame it on the teacher for now. Blaming everyone else seems to be the basis for most of your threads I've read thus far.
"So as American jobs leave the country giving me less options to choose from because companies have found cheap labor elsewhere I simply must except what I can't live on?"
Grammar/Spelling correction ........except should be accept.
To answer your question, yes, you must accept the fact that you have a low level skill set not worth what you think it really is and start flipping hamburgers or whatever it is you do. OR you can spend time on the internet educating yourself in some skill that will help you earn more. That's what I did. I worked at a factory making 10 bucks an hour and it sucked. I learned how to use a computer and now I work from home making close to six figures a year in my underwear. I busted my ass for years on end to get to where I am and I'm now supposed to dole out much of my check to some folks I don't even know who could just be some lazy bastards that don't want to take the opportunity that is there for the taking in this country? pfffffftttt right. You better get studying or hustlin' son. Another thing you can do is get ppl to help you lobby for less regulations on business because that is one of the primary things that drove business off our shores and off over to china.
"Do you approve of the NFL and it's contract with the employees? Are you familiar with the details?
Tell me flavio. Do these employees have the right to strike against there employer? Who decides what a fair wage is?"
Not familiar with the NFL contract details. Also, employees do have the right to strike against their employer and the employer should have every right to strike right back if he so desires. It's his capital. If you don't want to work for him because you think the wage is unfair, try to foment a strike. If it doesn't pan out, don't be surprised or try to file suit if you get your ass canned.
The market is what sets a fair wage. If you think you are worth more than some other person competing with you for the same job then you are going to have to prove it. If you can't, then you probably don't have the higher paying skills you thought you had and you need to either a.accept a lower wage and work your way up or b.find work elsewhere.
What this does is causes the employer to have to raise wages if he cannot find anyone willing to work for what he wants to pay. If he can find those willing to work for that much then it's a fair wage. If it weren't then those who, of their own free will, mutually consented to enter into a contract with said employer wouldn't have entered it to begin with.
Live within your means and work whatever job you can get
Jobs wouldn't have gone to China if a huge demand for cheap junk didn't exist in the United States. The same demand which was ramped up with easy credit.
Here are two hard facts:
1) It's cheaper to mass produce in China.
2) As a rule, Americans won't choose "made in USA" products over cheaper goods.
(2) implies that you can't count on patriotism to bring jobs back to the USA, because greed is stronger. Fact (1) offers the way out. You'll have to destroy demand in order to reduce China's mass production advantage. This creates unemployment, which brings American prices and salaries down so that manufacturing in America becomes competitive again.
There is no other way around this. A depression is on its way because American assets are too expensive, and this is why Schiff invests overseas.
I don't know about the NFL. The only NFL I know of is the football league, and I don't care about sports.
Employees can strike at will. Employers can fire at will. The best approximation to the notion of a fair wage is what the market sets through an aggregate of exchanges.
You have a point
Though initially I reacted against your statement, there is something to be said for ideological purity. Still, we live in the real world and if there are people who will at least tell you the truth and expose the rottenness, that is a service in itself. I guess that's what these guys are doing. They share their knowledge and condemn the wrongdoing all around us. But they aren't in this to be martyrs and sacrifice their own financial well-being. How can we criticize them for exercising self-preservation? There will be enough suffering for us all in the years ahead. Anyone who can try to avoid it has my blessing.
Hypocrisy Not
Schiff and company are not hypocrits, IMO. They are correct in stating that the system is broken, but if you choose to participate, here's how to make money. Richard Maybury is often accused of being a hypocrit for being anti-war / anti-empire, yet rightly states that if you wish to preserve your wealth, there is no better investment than the military/industrial complex since it isn't going away any time soon.
That being said, Vox Day, makes an interesting argument that supports your general thesis that the stock market is not free market. See here:
http://voxday.blogspot.com/2008/10/austro-logic-and-stock-ma...
Thanks
for the link.
Is the stock market in anyway a tool for investment? Does the military industrial complex need private investment capital? Or is it just sucking up as much money as it can? Is it being used to expand and promote the growth of business or as I see it used as a pyramid scheme to inflate stock prices?
Wow you apparently assume all or most
overseas companies uses slave wages! What utter nonsense. You apparently think NIKE and other companies are paying people lots of money in third world countries? You obviously have no idea about third world nations and to generalize like that is nonsense, arrogant and hypocritical. If you compare wages, of course it is lower in many countries, but you have to compare it to what people can buy with it. Also, Chinese, Vietnamese, Koreans and Japanese are very hard working, more than in the States! Many "third world" nations have very advanced and first world centres, while "first world" countries also have squatters and poor people.
Schiff's recommendation to invest in other countries makes perfectly sense, the growth rates are way higher than in the US and some currencies will be stronger than the USD. Not investing in other countries is like economic sanctions, or economic warfare, it hurts the poor people.
No
I think Nike pays whatever it wants to pay and if you can live of what they pay you fine if not they could care less.
I think a starving man would work a day for a meal and something to drink. Do I think a that's what the order of life should be? No.
For instance would you prefer Ron Paul as your dictator over George Bush as your President?
TxRedneck. I read some of what you wrote and I thought
"Only a virtuous people are capable of freedom. As nations become corrupt and vicious, they have more need of masters." Benjamin Franklin
---
they were very interesting, but didn't you say before that you are a trader?
If so, aren't you also a capitalist?
government of the people, by the people, for the people
---
I have traded in the past,
I have traded in the past, not in many years. I have said that I am an Aircraft Mechanic. I work to provide. I have also said that I intend to buy Metals when the reach a low. But my purpose for buying metals is not to make a profit but to protect hat I hve earned from the theft of Government Hyperinflation.
And I would add, that I too have for all my life bought the Lie of Capitalism. But after much studying and reflection it has become obvious to me what Marx accompoished when he defined all of the current Economic systems seen throughout the world.
In the West, we adopted Capitalism over Free Trade, because Capitalism so closely mirrors Free Trade. In the East they OVERTHREW Capitalism becuase it had achieved "internal tensions" just as we are now seeing in our "Capitalist" Society.
"Marx argued that capitalism, like previous socioeconomic systems, will produce internal tensions which will lead to its destruction. Just as capitalism replaced feudalism, capitalism itself will be displaced by communism, a stateless, classless society which emerges after a transitional period, the 'dictatorship of the proletariat"
http://en.wikipedia.org/wiki/Karl_Marx
One only need look at the last 100 years to see that Marx is correct. ALL systems that HE has defined lead to Communism, which is actually Fascism. The only system he did not define is the Free Market, the Father above defines that system. This is why it is the only system that is criminalized throughout the world.
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"Ehhh, What's ups Doc?" Bugs Bunny
"Scwewy Wabbit!" Elmer Fudd
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"Ehhh, What's ups Doc?" B.Bunny "Scwewy Wabbit!"E. Fudd
People's Awareness Coalition: Deprogramming Sequence
Ok. Thank you for the explanation.
"Only a virtuous people are capable of freedom. As nations become corrupt and vicious, they have more need of masters." Benjamin Franklin
---
government of the people, by the people, for the people
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good observation but...
Peter Schiff is no more of a hypocrite than you. If you work for and spend ferderal reserve notes, then you are participating in a system that I assume you don't approve of, but that's how it is and you do what you have to get by. Peter Schiff is an investor, a finacial advisor and market analyst, he's just telling us how it is and what you need to do to get ready for what's to come and maybe even profit from it.
I smoked for 14 years, stopped a little over a two years ago, yet I tell my freinds and family to quit all the time. Does that make me a hypocrite? Yeah, it does, (sorry for the rhetoric) but am I wrong for spreading an anti-tobacco message? That's the gray area I think you've touched upon in your argument, but I like your spirit. Question EVERYTHING, that's the way to be. I don't think you're a troll at all, and anyone who says you are is just as blind as the sheeple who think everythings gonna be fine because gas is down and we have a democrat in office.
Always do a lot of intellegent research, meaning, read a book or two, take some notes and always check sources. Ignore everything you see in youtube videos that lack sources, these things are our biggest asset and our worst enemy. Many of the youtube video's i've seen make very interesting points, they are fun for entertainment and raising questions, but most are backed by speculation and conjecture. Do some more research on Peter Schiff, read some of his books, you'll see, he's one of the good guys. I use a bit torrent downloader to get most of my books, you'd be surprised what's available our their in PDF form. "Crash-Proof : How to Profit From the Coming Economic Collapse" I found on isohunt.com.
whoops
doubled up
I don't see anything
I don't see anything hypocritical.
Peter Schiff has shared with us, how he saw the big picture years ago, giving us the details against a macroeconomic backdrop, pretty much spelling out for anyone with a brain, how to help themselves get out of a monetary system that is collapsing. For those too stupid, or too lazy to do it themselves, he offers a service.
The assumptions about sweat shop labor....that's just plain mud slinging with nothing to back it up, and your post just devolves into a morass of Peter and his clients are bunch of fat, rich, selfish hypocrites.
Your subject line was crap. The opening 4 paragraphs were decent. Then you just fell off a cliff with they're "all a bunch of thieves" and "we all know that 3 steps outside of the United States it's wall to wall slave labor and sweat shops"
Here is something for you to chew on.
Take 10 wealthy business men. They are american citizens, have families here, and enjoy living here, and like the people. What happens when the monetary system and the fed wipes out half their purchasing power?
What if diversifying their holdings to bullion and overseas companies, allows them to keep enough of their purchasing power so as to allow them to keep the doors open over here?
Boy you people are thick headed
And what is one of the weapons the fed uses to control and wipe out their purchasing power?