Peter Schiff describes the next market collapse

Pretty much spot on.

I try and tell people I know and most just

.



They mocked... and laughed at him on National TV.... and riddiculed this guy for years...



and guess what? He turned out to be right.



.

Yes, but when you tell people what they should do to prepare they don't wanna hear it....PAY OFF ALL YOUR DEBTS OR AT LEAST REDUSE AS MUCH AS POSSIBLE!...Then you won't be a slave....

Great post!

Thanks for sharing!!!

5*s

I have a lot of respect for Peter. He stuck to his guns for years and then he actually tried to do something by running for office. That is a rigged game though, and Peter was never gonna get in to the Senate.

You should alway try to keep debt low. My only debt is my student loan, but I don't pay it off cuz they let me deduct the interest. I have the money available to pay it if I have to do it.

However, if the shit ever seriously hits the fan, having a low debt ratio won't matter that much.

Schiff is correct about the bubble having not been properly deleveraged and that instead we've artificially printed money and allowed the banks to play games with the accounting. The PTB are trying to unwind the problems without stopping the party. Not impossible, but not likely.

Thank you.

Last Edited by DonHeau on 10/04/2011 06:50 PM

I remember this fella said gold will go whopping $5000.oo. very credible indeed...

After 2008, he also said a real total collapse in 2009. It didn't
He also said total collapse first part of 2010.It didn't
He also said 2nd part of 2010. It didn't
Then he said 2011. It didn't and hasn't

Now he is saying after election.lol

Apparently someone didn't see the economy crashing at the first of 2010? It may not have totally bottomed out for you unless you were one of the 7 million who lost jobs last year?

[link to money.cnn.com]

It's all in the eye of the beholder, my friend!!! And those 7 million people would probably be the first to tell you "Everything collapsed around them!"

~ Juju

Sorry... My post decided to have a mind of it's own and posted twice! LOL

Last Edited by *HAARP Lady* on 10/04/2011 07:13 PM

+ 1.000

this guy is a total fraud

Really?
The government pumped over 4 Trillion Dollars into the economy which he has no control over. WTF do you think would happen? Our government is the fraud. It's all phony
It's just a matter of time before it all catches up to us. You will probably still sit there in your little fantasy. The both of you are ignorant fucks

been saying it forever stfu.

I can't wait for interest rates to rise, I actually save and inflation is killing me!

ditto here. My only loan is for my house. Paying it monthly and putting money aside all along. Rising interests would be good for me : no more loosing money when trying to save something

No, your wrong. Whether you pay everything off, you still owe on the debt for tens of thousands,(actually millions of dollars) so no way you will get a pass, they have to get rid of all,not just some, of the witnesses to the fraud, and until the last witness is dead, there will be no security for them, or you

So I assume its best to buy a home now and get locked in at a low rate and fixed...

True, but why spoil the fun?

The US is operating on no budget without even a continuing resolution while continuing a losing war in Gannistan with a President who's a political clown.

Who needs to describe the (next) market collapse. LOL

Thanks for posting both of these.

EVERYONE should listen to EVERY word this man says.

You are a total fucking idiot.

Watch the Ops first video again. Shiff is spot on, on every single point he makes. You seem to think he is some kind of a soothsayer predicting the future. Nothing could be farther from the truth. The man is telling us (and you if you actually understand English) how things are *right now*.

Maybe you just don't want to believe him since if he is correct then you are wrong - way stupidly wrong.

And he has been touting shorting the USdollar; WRONG
He has been saying do not buy US Debt; WRONG.
His accounts lost 80% in 2009; HE HAS BEEN a FINANCIAL Disaster to those who listen.

He is a brokern record, sell US and BUY Foreign.
SELL US and buy GOLD. Broken record. If it makes you feel good to have shorted US debt and Shorted US dollar, good G@D.

Fuck 'em!

Bankruptcy rules!

Welcome to the new paradigm.

Those who predict doom have nothing. There is a lot of money saved that is waiting, waiting for higher interest rates. Guess what? It ain't happening.

Look at Japan.

Think about the suckers who got locked into fixed mortgages paying more than they should. The variable rate folks have been making out like bandits SAVING thousands in interest payments to those "I_AM_AN_ILLITERATE_RACIST" bankers!

Nothing to see here. Move along.

"I_AM_AN_ILLITERATE_RACIST" bankers!
Wow. You can't even put it in quotes to make a point about ignorance.

When did censorship become the norm here?

How do you remember to breath?

Wait until your libor/prime+ loan jumps to 20% overnight. Cause that's what's in store for you when the fed runs out of tricks(which will be very soon)