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US Economy 2014 Collapse: Peter Schiff says Fed will cause Huge Economic Crisis!
Topic Started: 28 Sep 2013, 10:54 AM (8,111 Views)
GloomBoomDoom
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You've gotta admire a guy who isn't afraid to speak his mind.

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mel
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Schiff is both very intelligent and extremely stubborn mixed with just a hint of selling something to his customers like anyone else :)

his main problem is accepting that what 'should' happen doesn't necessarily 'have' to happen. Both the game and rules have changed but he is too set in his ways to see it.

APF - a place where serious people don't take themselves too seriously. There's nothing else like it.
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MMM
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We saw how all the so called experts had not a clue in the world, and then when its happens, say things like, "nobody saw it coming"

Only last month , all the experts were saying how the fed would taper, 10 billion , 15 billion, peanuts on the scope of things anyway and yet they all got it wrong. BOB wants to tell us he has not been right in years , but called it last month while all the so called experts had it wrong....again...

The fact is with 85 billion a month ,you would of thought bernanke would of had the brains to engineer it by printing more than he needed , so start his 85 billion a month bs program , being more than he needs ,so that at a point later on he could of dropped some of it to make it look like things were improving by dropping some of it.

Anybody with half a brain knows that the US is not really improving , If they were ,they would have tappered some of the astonishing 85 billion a month bs program, they would not be about to hit the debt ceiling again, and would not be about to raise it again next month, they would not have the number of people on food stamps about to reach 48,000,000 people and still rapidly climbing by the day.

The fact is bob, Peter Schiff was right, while nobody else had a clue in the world.

http://www.youtube.com/watch?v=2I0QN-FYkpw

and just in case you missed it bob, funny how all the so called experts did not win the lottery right bob.....

http://www.youtube.com/watch?v=Tak9ODlBJgM




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doubleview
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No Taper for a while.

Peter Schiff knows what he is talking about !
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peter fraser
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GloomBoomDoom
3 Oct 2013, 09:06 PM
You've gotta admire a guy who isn't afraid to speak his mind.
I would admire him if he made sense.

Lets make it costlier to have children - is that really a smart plan????? Generally having a child is a decision taken by a couple that includes a man. Do we need to give "the talk" to Peter Schiff? He should know this.

The US needs to encourage good people to have more children, and they need to rely a little less on immigration for their population increase. Surely home grown citizens are worth some investment rather than importing people. Children are the nations future, aren't they worth something?

The Republicans love their guns, why not children?

Our Medibank Private doesn't seem to discriminate between sexes in their quotes Here.

Do you think that our Senate will withhold supply until this miscarriage of natural justice is rectified? If it's considered a complete non-issue here why is it a major issue in the USA?

I think that the polls show that 90% of the people in the USA want this sorted out as fast as possible. The Republicans are shooting themselves in their political foot.
Any expressed market opinion is my own and is not to be taken as financial advice
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goldbug
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Simon
30 Sep 2013, 08:38 AM
peter fraser
29 Sep 2013, 08:47 PM
Here is a recent post of a Peter Schiff at Macrobusiness - my own post was deleted
Why post there if they delete your posts?
And why post posts from there if your posts were not worthy of inclusion?
Shadow was hopelessly wrong about the Gold Bull Market.
What else is he wrong about?
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Elastic
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Taper Tantrums - 3 Myths about quantitative easing

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Here are three myths that dominate the discussion:

1. Quantitative Easing is printing money: Politicians, journalists and market participants often refer to quantitative easing as “printing money.” This is because when the Fed buys bonds from banks it does so by crediting those banks’ accounts at the Fed with reserves that didn’t exist before. But it’s misleading to call this process “money printing” because it doesn’t actually do anything to increase the amount of money in circulation. In fact, in our monetary system, most money is created by private banks and not the Federal Reserve. When a bank lends you money on your credit card, that’s “printing” money. When the government buys bonds from banks, it merely raises the price of that particular type of bond and lowers the interest rate. Lower interest rates might encourage consumers to take out loans, but it won’t actually lead to more money in the system unless banks create money through making loans. And banks won’t do that unless they identify profitable lending opportunities.

2. Quantitative Easing will eventually lead to inflation: For this reason the fears that quantitative easing will eventually lead to runaway inflation are unfounded. If the government literally began printing money and started mailing out new $100 bills to citizens, that would lead to price inflation. But quantitative easing isn’t the equivalent of mailing out $100 bills — it’s merely the managing of long-term interest rates much in the same way the Fed always has managed short-term interest rates. This is not to say that Fed policy can’t ever lead to inflation — keeping interest rates too low for too long can encourage the sort of spending that would cause prices to rise too quickly. But the idea that interest rates are too low right now doesn’t make a lot of sense given the large amount of slack in the economy as shown by high unemployment and stagnant wage growth.

3. Quantitative Easing is responsible for recent stock market highs: This also means that those who argue that recent stock market highs are the result of QE are wrong. Fed bond buying will cause bond prices to be higher and interest rates to be lower, and this will encourage investors to choose stocks over bonds at the margin. But no amount of federal bond buying is going to cause a particular stock to be a good buy if an investor doesn’t think that stock will provide a return. QE may boost profits by reducing the interest rates firms have to pay on their debt, but it’s not going to create profitable enterprises out of this air. A much more plausible reason for record stock prices is that corporate profits and profit margins are at all time highs.

So what’s the point then of QE and what effect has it had? By buying long-term government debt and mortgage bonds, the Fed lowers interest rates companies and consumers must pay to borrow money. On the margin, this will lead to a bit more investment and slightly higher stock and home prices. The theory is that by boosting wealth through these channels, consumers and businesses will be more confident and willing to spend. And the evidence says that QE has had a slightly positive effect on the economy. But though the press often refers to QE using terms like “massive” and “unprecedented,” it doesn’t mean that it is a particularly risky policy or one that deviates much from what the Fed normally does. And that’s why we shouldn’t get too worked up about its being wound down.



Read more: http://business.time.com/2013/09/18/taper-tantrums-3-myths-about-quantitative-easing/#ixzz2h73u4zaq


Only a rat can win a rat race.

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