Putting Peter Schiff on a panel with St. Louis Fed President James Bullard and former Fed Vice Chair Alan Blinder is asking for trouble or, at the very least, a heated debate. That’s just what occurred last Sunday night in New York at an event sponsored by Princeton’s Business Today. Predictably, Euro Pacific Capital’s Schiff disagreed with Bullard and Blinder on just about everything, including the government’s role in causing the crisis, and the outlook for the economy and the dollar. But …

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Do you think what he says about the collapse of the US dollar and a much worse recession even depression that could soon happen?

Peter Schiff’s investment strategies resulted in some of his Euro Pacific Capital account holders losing 60% to 70% of their value in 2008. Do you think THEY believe him?

Schiff has been forecasting doom & gloom for decades, it’s what he does, but he’s rather like a weather forecaster who promises every morning that there’s "going to be a big storm today!"; once in a while there is, but is that reason to stay indoors your whole life?

Stock markets will continue to grow around the world at average annual of 7-12% for as long as there are people left who believe that the sun will come up tomorrow, and that companies with new ideas will need capital to operate and that they might profit by lending those companies some money.

When greed vanishes altogether, Mr. Schiff’s dire predictions might come true….but I wouldn’t hold my breath!

(Another "small detail" that highlights what an idiot Mr. Schiff is, in spite of his education, is that he seems to think gold would be a smart place to ‘have your money’ if the dollar does collapse, which is about as dumb an idea as anyone with a functioning mind could have; if the dollar collapses, those with canned goods, bullets & bottled water will fare infinitely better than those with gold!)

http://www.lewrockwell.com/schiff/schiff37.1.html

In a Wall Street Journal op-ed on Monday, and in congressional testimony later in the week, Fed Chairman Ben Bernanke reassured all that thanks to his accurate foresight and deft use of the Fed’s policy toolkit, he could maintain near zero percent interest rates for an extended period without creating inflation. With supernatural powers such as these, one wonders if Ben would be better employed by the Justice League rather than the Federal Reserve.

Ben’s game plan is apparently simple: once he determines that the economy is on solid ground, he will use the monetary equivalent of Superman’s laser vision to strategically evaporate all the excess liquidity that he has recently created without endangering the recovery. Don’t try this at home, kids.

In other words, as he did just a few years ago when the subprime fiasco began to emerge, Bernanke is assuring us that inflation is contained. He is just as wrong now as he was then.

The idea that the inflation genie can be painlessly rebottled has no historic precedent. Even mainstream economists, who’ve never met a fiscal stimulus they didn’t like, agree that central banks must act preemptively with regard to inflation. Bernanke is making the case that the new set of liquidity tools, hastily developed in the panic of late 2008, will act just as well in reverse. But liquidity is a lot like liquid, it’s a lot easier to spill than to un-spill. The Chairman believes that his new gadgetry will allow him to perform a feat of monetary magic no other central banker has managed to pull off. But given his history of getting it wrong, why should we assume that this time he will get it right?

The bottom line is that Bernanke has no exit strategy. He can talk about it all he likes, but when it comes time to actually pull the trigger, his nerves will buckle. The current communications campaign is simply an attempt to calm the markets. I doubt few citizens or members of Congress had any hope of understanding the exit strategy mechanisms that Bernanke described. Many likely place their faith in his seeming mastery of financial minutiae. Sadly, as with the mythical “strong dollar policy,” confident talk may be the sum total of the Chairman’s strategy.

What do you think?

I think Schiff called the crash and Bernanke didn’t. I’ll go with the opinion of the one who seems to know what he is talking about.

http://www.schiff2010.com/

The man is genius. Vote for him and vote often.

Make Sure To Subscribe To Peter Schiffs’ Official YouTube Channel At www.youtube.com To Be Notified Immediatelly When Peter Posts A New Economic Video Blog Update!! ***Don’t forget to add Peter as a friend on FaceBook!! (facebook.com/peterschiff)*** —————————————- —————————– “Visit www.PhilDeCarolis.com to sign up for my free weekly newsletter that includes Economic and Real Estate updates or for more Peter Schiff videos and real estate advice …

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Government is insane. Subscribe to www.youtube.com Additional keywords sarah palin john mccain education economy bush friedman hayek ludwig von mises institute immigration health care supreme court bailout bail out war on drugs religion oil revolution free state project libertarian party… … “ron paul” “Peter Schiff” “rand shelly roche” “daniel hannan” “glenn beck” “judge napolitano” campaignforliberty “monetary policy” “federal reserve” federal federalism government money debt “audit the …

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It looks like Peter has a sore throat today. Subscribe to www.youtube.com Additional keywords sarah palin john mccain education economy bush friedman hayek ludwig von mises institute immigration health care supreme court bailout bail out war on drugs religion oil revolution free state… … “ron paul” “Peter Schiff” “rand shelly roche” “daniel hannan” “glenn beck” “judge napolitano” campaignforliberty “monetary policy” “federal reserve” federal federalism government money debt “audit the …

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www.peggyforcongress.com schiffforsenate.com At a Tea Party on the steps of City Hall in New Haven, Connecticut, Peter Schiff shows that he can listen as well as talk. Peggy Rogers, a Republican candidate for Congress in District 3, organized a rally aimed at Stopping the Obamacare “reform” which threatens to destroy health care excellence in America. Rogers and Schiff both fielded questions on several different subjects. … “Peter Schiff” “peggy rogers” “rosa delauro” “new haven ct” “chris …

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schiffforsenate.com Senate candidate, Peter Schiff, was invited to a Tea Party at City Hall in New Haven, Connecticut on January 16, 2010. He was there, and what he said to the assembled crowd was stirring. His message of hope and combatting government oppression was just what the people wanted to hear. One heckler at the edge of the street was silenced by some good old American common sense and logic. Wherever Schiff appears, his message resonates with the audience. … “DUMP DODD” “block …

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