# Peter Schiff's economic predictions.



## tac803 (Nov 21, 2010)

Link:

http://finance.yahoo.com/blogs/brea...ollapse-worse-2008-europe-says-155504860.html

Interesting video and more interesting that it was on the front page of Yahoo this morning. Maybe it will help wake some folks up?


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## db2469 (Jun 11, 2012)

Saw that this morning...I'm going to use that link (and others) to try to convince my brother to join with us in prepping (it won't be easy)...I've watched a number of youtube videos about the economic disaster that awaits...anyone have a favorite there they can recommend for my brother? A video that really tells it like it is and what we can expect following a collapse..
DB


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## UncleJoe (Jan 11, 2009)

db2469 said:


> anyone have a favorite there they can recommend for my brother? A video that really tells it like it is and what we can expect following a collapse..
> DB


Try this one.

http://usawatchdog.com/one-on-one-with-chris-duane/


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## BillS (May 30, 2011)

db2469 said:


> Saw that this morning...I'm going to use that link (and others) to try to convince my brother to join with us in prepping (it won't be easy)...I've watched a number of youtube videos about the economic disaster that awaits...anyone have a favorite there they can recommend for my brother? A video that really tells it like it is and what we can expect following a collapse..
> DB












http://finance.moneyandmarkets.com/reports/SMR/4597/vsp-smr2.php?s=MSAV&e=4626101


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## db2469 (Jun 11, 2012)

Thanks BillS and Uncle Joe!
DB


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## BlueShoe (Aug 7, 2010)




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## machinist (Jul 4, 2012)

Here ya go, from Xtranormal, the folks who brought you the silver bears, and the truth on QE:






NOTE: Some adult language. At least R rated.

I really liked the one with John Williams!


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## Immolatus (Feb 20, 2011)

I like those cartoons, and since we have gotten to that point, I'll post this one too.


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## machinist (Jul 4, 2012)

Somebody famous said, "Humor is a moth that dances close to the flame that is TRUTH". It's the truth in those videos that makes them so funny, IMHO, and all the more convincing.


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## ComputerGuy (Dec 10, 2010)

Most excellent vids. Thank you all


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## machinist (Jul 4, 2012)

From Future Money Trends, this video tells of a whiplash in currency values. It is imperative to get this right. There has been a debate for years over whether our crash will be inflationary or deflationary. This video makes a case for the answer being yes to both. First deflation, as all that credit goes bad and as that "credit money" is destroyed, we have deflation, with a huge demand for dollars.

THEN, we get the reaction of the Fed and other central banks (too late) with their "Big Print, as Zerohedge termed it. All the fiat currencies then become worthless, and we are in the soup for real.

That's the thesis of this short video:





Is this the way it will go? I can't swear to anything. My crystal ball is foggy and useless. But he makes a sensible case to my thinking.


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## phxrising (Jun 24, 2012)

I'm new to this board, but I'll tell you as a finance professional, Peter Schiff is one of the only people I listen to out there. IMHO, he is a financial Noah for what is going to happen in the next 2-3 years. 

My 2 cents, if you're in stocks, tread carefully. Choose 4-5 morningstar rating mutual funds that have stocks that pay dividends. I sold all my treasuries yesterday. I'm sitting on cash, decreasing debt and battoning down the financial hatches. I found this board because I've slowly but surely been prepping for some time now. Now is the time to get your financial house in order and really, really think about where you are putting your $. You may not gain a lot or even any interest but can you afford to lose the capital? That's what people often don't think about. 

~Cleo


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## BillS (May 30, 2011)

I'm a big believer in owning physical gold and silver once you're fully prepped. I wouldn't have a dime in stocks because I believe we're going to see the collapse of the dollar in the coming months. The administration appears to want a war with Syria and possibly Iran too. When that happens there's a good chance that China will dump our debt and our dollars. That alone could crash the dollar. Or it could be the derivative bubble, the coming collapse of the euro, the Fed creating billions of bogus dollars every month, or whenever the Fed announces QE3. John Williams from shadowstats.com said recently that he thought panic selling of the dollar could start at any time. 

You might have heard the statistic that the Fed is "buying" 40% of Treasuries. The number is artificially low because the Fed lends big banks money at almost 0% interest and they use that money to buy Treasuries. It could be that the Fed is, in effect, buying 90% or more of Treasuries. The damage to the dollar is almost incalculable. I think the only thing that's saved it so far is that it's the world's reserve currency at this moment and perhaps 90% of the dollars in existence are held by foreigners outside the country.


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## The_Blob (Dec 24, 2008)

It seems to me that one thing we NEED to do is at least try to shuffle some of the economy % towards PRODUCTION (gasp, blue collar manufacturing!... b-bu-but THAT 'kind' of work is unpleasant! Well, so is childbirth, but that doesn't stop people from [email protected](<!ng) and away from blind consuming and focusing on certain types of 'worthless' degrees.


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## machinist (Jul 4, 2012)

*Resource Wars*

BillS said:
"The administration appears to want a war with Syria and possibly Iran too. When that happens there's a good chance that China will dump our debt and our dollars."

Yes, and it is all about resources, in that case oil.

A new book by Michael Klare says resource wars will define our future on planet earth, fighting over the scraps of what is left as growing population becomes ravenous about resources. 
http://www.marketwatch.com/story/wwiii- ... genumber=1

Quote:
"Fasten your seat belts, soon we'll all be shocked out of denial. Some unpredictable black swan. A global wake-up call will trigger the Pentagon's prediction in Fortune a decade ago at the launch of the Iraq War: "By 2020 ... an ancient pattern of desperate, all-out wars over food, water, and energy supplies is emerging ... warfare defining human life."

And that's also the clear message in "The Race for What's Left: The Global Scramble for the World's Last Resources," the latest book by noted international security expert Michael Klare."


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## cengasser (Mar 12, 2012)

The US dollar will fall apart sooner rather than later. The BRICS nations are/have been discussing/are trading in currency other than the US$ or Euro. 
It won't be long before the $$ will no longer be the reserve currency. If China bails, we can bend over and kiss our booties farewell... just sayin'


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## zracer7 (Apr 17, 2012)




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## homeschoolmomma (Jul 12, 2012)

As much as Tony Robins gets under my skin....that was a great video! It paints a clear picture of our current situation. How can anyone deny our countries current fiscal status?

Why won't people wake up? Arrrrg


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## zracer7 (Apr 17, 2012)

homeschoolmomma said:


> As much as Tony Robins gets under my skin....that was a great video! It paints a clear picture of our current situation. How can anyone deny our countries current fiscal status?
> 
> Why won't people wake up? Arrrrg


Yeah he is kinda annoying but the way he explained the breakdown is a huge eye opener.


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## The_Blob (Dec 24, 2008)

We ARE going to have to endure some PAIN to change things, TPTB have known this for years (decades? :dunno: ), they've ALSO known that the SHEEPLE don't understand that and will riot, march, protest, perhaps vote them out or even outright rebel... NONE of which will actually solve the problem, only prolong it (voting schmucks out seems like a good start, but WHO is going to fill that void?).


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## machinist (Jul 4, 2012)

The_Blob said:
"...WHO is going to fill that void?"

If history is any guide, the answer will not be good. People get desperate and will go for any bum that promises them something, just like now, only worse candidates.


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## BillS (May 30, 2011)

machinist said:


> The_Blob said:
> "...WHO is going to fill that void?"
> 
> If history is any guide, the answer will not be good. People get desperate and will go for any bum that promises them something, just like now, only worse candidates.


Germany had hyperinflation in the 1920s and they got Hitler in the 1930s. The difference there is that he was democratically elected in the beginning. Most likely in America we'll never see another election. Even if Obama loses, if the collapse happens before he leaves office he could declare martial and never leave. If Romney is inaugurated and the collapse happens he would probably do the same thing.


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## machinist (Jul 4, 2012)

Maybe it doesn't matter so much who is in the driver's seat. This thing is on autopilot anyway and it is going off the cliff, no matter who is driving. 

But later on is what worries me. When we have so much gubmint we are choking on it, some political numbskull will say we just need a couple more spoonfuls to fix it. Blech.


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## BlueShoe (Aug 7, 2010)

Doubtful that it would happen, but what is the purpose of suspending an election? Can we agree that the President is nothing more than a mouth piece for the NWO? We're just going through the motions now and gaining nothing from one to the other. It's a steady game of losing. What would be the purpose of suspending elections?


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## BillS (May 30, 2011)

tenOC said:


> Doubtful that it would happen, but what is the purpose of suspending an election? Can we agree that the President is nothing more than a mouth piece for the NWO? We're just going through the motions now and gaining nothing from one to the other. It's a steady game of losing. What would be the purpose of suspending elections?


Obama becomes a dictator if he declares martial law and he postpones the elections by executive order.


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## labouton (Jan 24, 2011)

BillS said:


> Obama becomes a dictator if he declares martial law and he postpones the elections by executive order.


If Obummer's cronies see him falling behind as we approach the election, I see him starting another war to maintain his seat on the throne and shortly after that, declaring martial law from his totalinarism rulings . Obviously, this government is expecting civil uprisings so our future is already planned. God help us.


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## BlueShoe (Aug 7, 2010)

I can only see two instances where elections would be postponed. One, there is a massive "terror attack" like a sizable nuke occurrence inside the borders, or one of the candidates is no longer with us. Since the big banks are already throwing double the campaign contributions to Oromney, I think he's the next in the WH. For #1, it would have to be an enormous event. No common war.


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## BillS (May 30, 2011)

tenOC said:


> I can only see two instances where elections would be postponed. One, there is a massive "terror attack" like a sizable nuke occurrence inside the borders, or one of the candidates is no longer with us. Since the big banks are already throwing double the campaign contributions to Oromney, I think he's the next in the WH. For #1, it would have to be an enormous event. No common war.


We're set up for a big war already. Obama was set to force Assad out of power in Syria. We have a confrontation with Iran over sanctions, Iran's progress in their program to develop nuclear weapons, and Iran's threat to mine the Strait of Hormuz. Both Russia and China currently have aircraft carriers in that region.

So, Obama could attack Iran and Syria. That will provoke war with Russia and China. China will retaliate by dumping our dollars and our debt. That will collapse the dollar and lead to massive chaos in the US. That alone would lead to martial law in the US and Obama "postponing" the elections.


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## BlueShoe (Aug 7, 2010)

There was a massive world war and election in 1944. 
War in Syria will be a proxy war. We won't be going in as we did in Iraq, for the reasons you state; China and Russia.


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