Peter Schiff Was Wrong
I post today's article by Mish. It is worth reading. Why?
Because no one is above the law..... the law that says "No one ever gets it 100% right"..... No one..... and I still love Peter Schiff!
"In the multitude of counsel..... there is wisdom"
http://globaleconomicanal...
Schiff's Overall Thesis
* US Equity Markets Will Crash.
* US Dollar Will Go To Zero (Hyperinflation).
* Decoupling (The rest of the world would be immune to a US slowdown.
* Buy foreign equities and commodities and hold them with no exit strategy.
Note: In the mad scramble to figure out what to do.... there are MANY of us looking for advice..... to "follow a financial leader"..... just be careful out there... it's going to get crazy..... and EVERY ONE'S crystal ball is pretty fuzzy these days..... no shame in that.,,,, none.
Schiff Rothschild Banking Bloodline
http://www.theforbiddenknowledge.com/hardtruth/the_rothschil...
Isn't Schiff (a Jew) part of the Rothschild banking dynasty?
SCHIFF was a major family that started all this in the first place, 200 years ago.
Schiff
He got #1 100% correct
#2 is probably going to be correct, but it also might not. Total debt far outstrips the amount that the gov't is going to issue, so it depends on societys' debt level tolerance.
#3 depends on the idiocy of each government. China, will probably fail to decouple for no other reason than a lack of imagination on the part of its leaders. South Korea is probably a very smart investment. Japan is also a reasonable investment with the caveat that their government has swallowed the Keynes pretty hard (but it's not so bad because Japan is a producer nation). Schiff's probably right on europe.
#4 well having no exit strategy is always a bad idea.
As far as #4 goes...
if Schiff's predictions come true, about decoupling and the Dollar weakening significantly, then you won't want to exit. Heh.
hmm
Fortune Favors the Bold
#3 is the big one. I think you may be right. This is the problem with China. Their current system is ultimately unsustainable. But the elite have benefited quite a bit. I think for China to decouple and use their increased manufacturing capability and technology, there would need to be a liberalization of their economy on a much larger scale, which would mean their politicians giving up a significant amount of power.
Fortune Favors the Bold
they are switching from the
they are switching from the dollar to the yuan.. the yuan will be stronger
"When governments fear the people there is liberty. When the people fear the government there is tyranny."
-Thomas Jefferson
I am more concerned about the return of my money than the return on my money. --Mark Twain
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.” (Prov. 22:3; 27:12 KJV)
Hey McCain-----┌П┐(◣_◢)┌П┐
You're full of Shedlock
Hope I'm not outa line.....