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Fireworks Fly As Peter Schiff Warns "An Economy That Lives By QE, Dies By QE"

Tyler Durden's picture




 

Ahead of tomorrow's decision by the FOMC, Peter Schiff ventured on to CNBC to discuss the economy, the fed, and gold... among other things. Schiff rightly fears that while the Fed may well stop QE3 tomorrow, QE4 will not be too long behind it as he notes, rather eloquently, that "an economy that lives by QE, will die by QE" as the Fed's total lack of willingness to allow stocks to fall (see Bullard 2 weeks ago) or a 'cleansing' recession leaves the nation's economy in far worse shape than it was before the Fed's intervention. Schiff calmly replies to the anchor's questions (as she proclaims "I am not on the side of the Fed but..."), gently explains his view on gold when challenged about his 'wrongness', but when a guest starts hounding him for being dangerous to CNBC viewers wealth... Schiff (rightly) loses it - must watch!

 

A well reasoned discussion of the Fed's manipulation of markets and mal-investment hangovers is well worth the price of admission... but at around 6:35 when Scott Nations unleashes his tirade on Schiff, the fireworks start to fly... and Schiff (while being shouted over) reminds guests, anchors, and viewers alike "Go to YouTube, I am wrong a lot less often than most people on this program... and all you do is hassle me"  that he was among the very few appearing on CNBC before the crash who foresaw it and the cataclysmic shift that has occurred (no matter what the perception of short-term memory traders)..."Think of all the bulls you paraded out here when Nasdaq was 5,000"

Absolute must watch...

We can't help but feel the timing of this tirade against Schiff is spookily prophetic and will be in its own YouTube class in a few years...

*  *  *

Ironically, here is Scott Nations in 2008 getting "Schiff'd" by the CNBC anchors (Liesman) and some other guest muppet when he dares to suggest the Fed is intervening and that the President's Working Group (i.e. Plunge Protection Team) is hard at work...

"look at the market action on the 10th and 28th and tell me what else might have generated a 100 point rally in the S&P under that situation?" Liesman fobs him off as some conspiracy wonk...

Yep looks normal to us... 10/10/2008

 

and 10/28/2008

 

Those are 100 point moves on a 700/800 S&P!! Nothing to see here eh Liesman, Kiernan, Quick?

 

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Tue, 10/28/2014 - 18:07 | 5387587 booboo
booboo's picture

Just asking for the peeps that are, I invest in what I know, me.

Tue, 10/28/2014 - 17:53 | 5387555 silverserfer
silverserfer's picture

I just got mindfuck'd on ZH!

Tue, 10/28/2014 - 17:55 | 5387558 TVP
TVP's picture

I can see the Youtube video already...

"Peter Schiff was right, again, Part Deux."  

Tue, 10/28/2014 - 18:35 | 5387678 Bay of Pigs
Bay of Pigs's picture

Here is Schiff ripping Charles Biderman a new asshole in 2006, who ironically, was featureed once again here on ZH today.

https://www.youtube.com/watch?v=dLA09a9Ws0Q

Tue, 10/28/2014 - 17:57 | 5387559 Ban KKiller
Ban KKiller's picture

Shit sale syndrome soon sailors! I got your "ease", JUST BEND OVER. 

Tue, 10/28/2014 - 17:57 | 5387560 Yen Cross
Yen Cross's picture

  Keep your powder dry folks. This next move is a NO BRAINER.

 Stay nimble, smart, and use common sense. If it looks too good to be true, cover your trade, and add after the retrace.

Tue, 10/28/2014 - 17:59 | 5387566 i_call_you_my_base
i_call_you_my_base's picture

QE4 won't come without some pain first. I'm thinking Bowlcut may disappoint tomorrow. The global CBs' jawboning over the last few weeks may have been a lead-in for it. But, I dunno.

Tue, 10/28/2014 - 17:59 | 5387567 QQQBall
QQQBall's picture

wow a 2% move in gold in 2 months?  That is an intraday range at times.

Tue, 10/28/2014 - 17:59 | 5387571 1stepcloser
1stepcloser's picture

Peter should of said, one day you will be begging for my gold and I'm going to ask for your hat, then shit in it.

Tue, 10/28/2014 - 18:01 | 5387572 apu123
apu123's picture

Schiff is right about not hasseling other guests who are wrong.  I mean for Pete's sake look at Dennis Gartmen, the definition of a day late and a dollar short.

Tue, 10/28/2014 - 18:38 | 5387699 apu123
apu123's picture

What a down arrow? I thought everybody laughed at Gartman!  Gartman is that you trolling ZH?  Dude I love the flabbergasted look you have every time you are on CNBC, you should put it on some t-shirts, mugs and mouse pads, get one of those busty chicks to model it on the ads here.

Tue, 10/28/2014 - 18:02 | 5387579 IED
IED's picture

You are all Morans of Epic Preportion 

Tue, 10/28/2014 - 18:10 | 5387590 booboo
booboo's picture

You spelled "Moran" and "preportions" wrong, Moron.

Tue, 10/28/2014 - 18:16 | 5387615 Mr Pink
Mr Pink's picture

Come on...he spelled you, are, all and of correctly! No points for "epic" cuz it was capitalized.

Tue, 10/28/2014 - 18:42 | 5387708 apu123
apu123's picture

Do you mean Erin Moran from Happy Days?

Tue, 10/28/2014 - 18:07 | 5387588 Bernoulli
Bernoulli's picture

This clip is fucking awesome. Schiff is the man.

And these other idiots after they gently "fade out" the frame with Schiff, they are like among themselves and kind of laughing at him thinking "ha ha, what a clown, he knows nothing". And none of those losers were even able to understand what Schiff said. And they didn't get that he told them off.

And the end is a classic:
"Let's go ahead and bottom line this trade on gold here"
"Start selling gold at 1231 with a target of 1205"
"Ok, that's gonna do it for today's show"
"Also make sure you like us on Facebook and follow us on Twitter"

I'm dreaming of seeing the same three faces discussing gold on CNBC after the whole stock "market" has collapsed, USD no more (SDRs maybe), no more FB or Twitter, and lots of Central Banks worldwide having a gold backed currency again.

Tue, 10/28/2014 - 18:32 | 5387670 Shizzmoney
Shizzmoney's picture

RE

I'm dreaming of seeing the same three faces discussing gold on CNBC after the whole stock "market" has collapsed, USD no more (SDRs maybe), no more FB or Twitter, and lots of Central Banks worldwide having a gold backed currency again.

A nightmare

Tue, 10/28/2014 - 18:47 | 5387736 walküre
walküre's picture

for the idiots yes, not for me

Tue, 10/28/2014 - 18:48 | 5387742 ejmoosa
ejmoosa's picture

When that happens, they will not even take Schiff's call.  It will be as if he never even existed.

Tue, 10/28/2014 - 18:08 | 5387592 Bell's 2 hearted
Bell's 2 hearted's picture

"the Fed's total lack of willingness to allow stocks to fall (see Bullard 2 weeks ago) or a 'cleansing' recession"

 

say what?

 

business cycle has not been revoked.  Schiff is a fool if he thinks Federal Reserve has this power. 

Tue, 10/28/2014 - 18:13 | 5387603 silverer
silverer's picture

Thanks for this link as well.

Tue, 10/28/2014 - 18:54 | 5387767 Son of Captain Nemo
Son of Captain Nemo's picture

Ditto.  An oldie but a goodie

Thx for the stroll down memory lane E

Tue, 10/28/2014 - 18:13 | 5387602 silverer
silverer's picture

Help needed from ZH readers: what is actual you tube link for this video, can't open it on this site, but can open it on youtube.  Thanks!

Tue, 10/28/2014 - 18:16 | 5387609 ChargingHandle
ChargingHandle's picture

CLEARLY the show producer got into the cute one's ear and told her to go on the attack as to discredit his credentials and knowledge. CNBC will do anything to maintain the status quo for their friends in DC. I present a challenge to anyone how can logically explain to my why gold is not at 2k+ right now. Metals have been manipulated lower and equities higher. No other way to slice it. 

Tue, 10/28/2014 - 18:19 | 5387625 Budd aka Sidewinder
Budd aka Sidewinder's picture

Heard that...I'd like to turn her face into a glazed donut

Tue, 10/28/2014 - 19:28 | 5387912 CCanuck
CCanuck's picture

Hey Budd,

The Boys and Girls at the Fed beat ya to it....that ho had been glazed before they let her on air.

Tue, 10/28/2014 - 21:50 | 5388403 Honey Badger
Honey Badger's picture

China isn't done buying would be my answer.

Tue, 10/28/2014 - 18:15 | 5387611 jmcadg
jmcadg's picture

These mutha fuckers are sooooo lost. They are recommending trading gold. Dipshits. Who fuckin' cares about paper gold. In that respect I hope he's right, take it down under $1000, because like Schiff I'm buying and I'll sell OW my balls granny too to get physical metal.

Tue, 10/28/2014 - 18:17 | 5387618 Spungo
Spungo's picture

I don't quite understand why people would think the fed cares about the economy. That's not what the fed was created for. The fed was created to prevent bank failures. That's their stated goal, and they're actually quite good at achieving that goal. Asking them to fix the economy is like asking a police officer to babysit. 

Tue, 10/28/2014 - 18:23 | 5387640 silverer
silverer's picture

Actually, the Fed is there to serve banks, not the people of this country.  So banks first, working people second.  The purpose of the Fed is supposed to be to protect and maintain the value of our dollar.  They have been an abject failure by any measurement.  It's been a squeeze and pump to the top operation since the 1930's.

Tue, 10/28/2014 - 21:21 | 5388294 RaceToTheBottom
RaceToTheBottom's picture

Second????

Try cannon fodder.

 

Tue, 10/28/2014 - 23:07 | 5388591 rickv404
rickv404's picture

Nope. The Fed is there to fund the federal government with inflation (QE) and manipulating interest rates. The banks benefit only as it benefits the federal government for them to benefit. That is, if the economy goes to hell as a result of extravagant government spending, as we've seen since 2003, financed via Fed infused inflation, the banks are "loaned" reserves in an attempt to keep them solvent, which means they get reseves that are worth less than what they had and lost from an inflation ravaged economy that wracked their customers. Obamacare is going to make this much worse. QE4 into infinity is assured, to pay for that monstrosity, if nothing else. Watch those gas prices climb again, once this sham of an election is over. Schiff will indeed be proven right.

Tue, 10/28/2014 - 23:52 | 5388667 TheReplacement
TheReplacement's picture

It isn't hard to see the Fed bending to whatever power has the most leverage against them.

President, "They are indespensible.  Let's assign each a SS team."  That is the best way to threaten to execute them.

"Hello, this is Colonel So-n-So with the NSA.  I've been reviewing your communications...."

Bank Exec:  "Wow, you live in a really tall building."  Or "Wow, lovely bannisters.  Are they Louis IVX?  Bet they could hold a lot of weight."  Or "I got you a nailgun for Christmas.  LOL, JK.  I don't do Christmas.  More QE or kachuck."

Kachuck is the official technical term for the noise a nailgun makes when it is used to affix a human to a surface.  The act of which is either called framing or finishing depending on the actual product being assembled.

Wed, 10/29/2014 - 02:23 | 5388822 cornedmutton
cornedmutton's picture

Love the end part about the word "kachunk."  I'm stealing that.  Try to find me.  JK LOL BBQ

Tue, 10/28/2014 - 18:18 | 5387619 SilverIsMoney
SilverIsMoney's picture

We metals bugs are getting closer to the edge with this shit. Just keep pushing us you ass holes and one day soon your heads are gonna end up on sticks.

Tue, 10/28/2014 - 18:49 | 5387745 ejmoosa
ejmoosa's picture

I wish that he would comment that the leverage on these metals is 100 to 1, and that the Fed is shorting it just to attempt to force us out of the metals and into the paper.

Tue, 10/28/2014 - 18:57 | 5387781 SilverIsMoney
SilverIsMoney's picture

If Peter ever says the M word he'll never be allowed on again that's why he doesn't say it.

Privately I have heard him talk about it. He knows but this is the best he can do within the rules of the game.

Tue, 10/28/2014 - 18:18 | 5387622 Antifederalist
Antifederalist's picture

That smirk on Scott Nation's face makes me want to puke. These people are vile and stupid.

I am pleased Scott is short gold. I will enjoy seeing him get his face ripped off in the next two months.

This Swiss Initiative will rock the world.

Tue, 10/28/2014 - 18:25 | 5387653 SheepDog-One
SheepDog-One's picture

They are, sophomoric arrogant little punks, and I can't wait to see the looks on their faces one morning when they're wondering when/if markets will ever even open again!

Tue, 10/28/2014 - 20:03 | 5388049 achilles5008
achilles5008's picture

Does anyone know if the Swiss Gold Initiative requires a simple majority or 2/3 majority.

Tue, 10/28/2014 - 20:31 | 5388149 Antifederalist
Antifederalist's picture

Simple. And recent poll shows the Initiative leading.

Tue, 10/28/2014 - 22:04 | 5388444 Fred Hayek
Fred Hayek's picture

It requires a simple majority in two ways. It has to win a majority nationally and it has to win in a majority of the cantons, effectively the states of Switzerland. It's the same as if there was a national referendum in the U.S. and it had to win 51% as a whole and in 26 of the states (or 29 out of 57 if, like Obama, you believe there are 57 states.).

Tue, 10/28/2014 - 18:17 | 5387623 kchrisc
kchrisc's picture

Schiff only speaks when he smells a stink

Many laugh and scorn until the markets become forlorn

Then Schiff and his nose are again alone as it is proclaimed, "Who would have known?"

An American, not US subject.

 

"I should have been a poet."

Wed, 10/29/2014 - 02:35 | 5388829 Wild Theories
Wild Theories's picture

you needed one more line of rhyme, but who's a stickler for poetic protocols now

Tue, 10/28/2014 - 18:20 | 5387627 buzzsaw99
buzzsaw99's picture

CNBC is dangerous to the wealth of CNBC viewers. Jim Cramer in particular but all of them in general. They are just pissed because Schiff let the QE4 cat out of the bag early.

Tue, 10/28/2014 - 18:21 | 5387633 Sizzurp
Sizzurp's picture

The old Schiff videos where he is warning people about the housing bubble are quite humorous.  This almost sounds like a repeat.  The equity bulls and gold bears are thumping their chests, so maybe things are about to change.  I give it another 12-18 months though.  The dollar and US equity markets are benefiting from world capital flows. The rest of the world, especially Europe, is in terrible shape.  US wins by default. It's all relative.

Tue, 10/28/2014 - 19:29 | 5387914 kenny500c
kenny500c's picture

May only take a week if the leftists, aided by Soros and voter fraud pull out an upset victory at the polls.  You saw what happened in Brazil when Rousseff was re-elected.

Tue, 10/28/2014 - 18:30 | 5387648 SheepDog-One
SheepDog-One's picture

CNBC ... What a bunch of little snotty brats....it's all really just an act though, that guy looked most pissed about Peter talking about QE4, I'm sure they've been handed the script to keep that hushed.

Tue, 10/28/2014 - 18:57 | 5387783 lotsoffun
lotsoffun's picture

i actually knew one of the first MTV 'video jockeys'.  she was an enormous success.  that was 30 years ago.  she told you what was cool to watch, cool to listen to, cool to do, etc.  she defined cool.  she was shameless.  the masses followed.  these people are no different.  they read the script and don't ever question it.

the last guy that looked 'really pissed' about the fact was william o'brien when he got taken down about bats HFT trading.

http://www.valuewalk.com/2014/07/bats-ceo-resigns/

he had a reason to be pissed.  his bullshit was called out and proven.

 

Tue, 10/28/2014 - 18:26 | 5387649 Chuck Knoblauch
Chuck Knoblauch's picture

I think if we looked at Scott's personal portfolio, we'd find a lot of metal and a lot of paper valued in foreign currency.

He know the truth, but it was a good performance.

These people are on cable because they are good actors.

You all know that, right?

Tue, 10/28/2014 - 18:26 | 5387652 badger10
badger10's picture

I heard a phrase that is a good name for the Feds stimulus. It is called financial engineering. I happen to agree with Mr Schiff that we are approaching a top in the equities. Printing more money is no solution as it hasn't expanded the economy. The sooner the better as the longer it takes the worse its going to be.

 

Tue, 10/28/2014 - 18:28 | 5387664 SheepDog-One
SheepDog-One's picture

Also, the narrative for a few months was 'the Fed needs to end QE and raise rates, or it loses credibility'....so sure they can launch Qe4 as long as they're willing to give up the credibility facade....it's a real Catch 23 situation.

Tue, 10/28/2014 - 18:37 | 5387692 Jethro
Jethro's picture

I think the most important thing I've learned in the last few years is something you just touched on.  The govt/bankers/puppet masters set the agenda, and the media promotes the narrative.  Anything that goes against the narrative is ignored or derided (or threatened, blackmailed and prosecuted).  It's reminding me more and more of late 1930's Nazi Germany around here.

Tue, 10/28/2014 - 20:34 | 5388155 Questan1913
Questan1913's picture

BINGO!

Tue, 10/28/2014 - 18:26 | 5387655 wankawanka
wankawanka's picture

CNBC viewership near 21 year low, enough said.

http://www.valuewalk.com/2014/09/cnbc-ratings-drop-21-year-low/

Tue, 10/28/2014 - 18:27 | 5387661 tocointhephrase
tocointhephrase's picture

Man crush. Love ypu Peter. 

Tue, 10/28/2014 - 18:29 | 5387662 Son of Captain Nemo
Son of Captain Nemo's picture

The U.S.A.'s  epitaph! And well deserved I might add!...

And why a World War III is inevitable by the scum like George Soros a.k.a. the Anglo-American Israeli contingent and Saudi Arabia pushing forward is inevitable as they continue to lose their grip on control of "everything"!

Tue, 10/28/2014 - 18:35 | 5387680 AdvancingTime
AdvancingTime's picture

Again this morning I have awoke to a market where stock futures are soaring ever higher even after important economic numbers have been released coming in at below expectations. As the stock market continues to remain at historic highs please tell me what is so good? What is so much better? As I see it the weight of carrying a large number of unemployed and nonworking people who have dropped out of the work force will wear down society through attrition. 

The article below points out some of the glaring flaws in the argument that blue sky lies ahead. The article below points out some of the glaring flaws in the argument that blue sky lies ahead as the stock market seems to indicate. As I look at a landscape of empty and under-leased buildings that once housed thriving businesses that provided Americans with good paying jobs I'm forced to ask, How are things getting better?

 http://brucewilds.blogspot.com/2014/10/tell-me-again-how-things-are-getting.html

Tue, 10/28/2014 - 18:42 | 5387714 SocialismIsCancer
SocialismIsCancer's picture

Does not matter if economy is getting better, worse or same - central bank money creation + ZIRP results in HUGE carry trades + leverage, result is that ALL financial assets go UP.

It's just that simple.

Tue, 10/28/2014 - 20:28 | 5388140 Herodotus
Herodotus's picture

The Weimar stock market went sky high, something like 500,000%.  But stock investors still lost much of their wealth as the inflation rate went up even faster.

Tue, 10/28/2014 - 18:35 | 5387683 SocialismIsCancer
SocialismIsCancer's picture

Schiff is right about predicting a crash of financial asset prices, but not about investing in shiny lead, a huge waste of money. Anyone who has ANY amount of disposable or investment money can find MANY things better to invest in than shiny lead.

Tue, 10/28/2014 - 18:35 | 5387684 falak pema
falak pema's picture

QE is not QE until it hits 100 trillion. 

Anything less than that is not impressive to the Oligarchy. 

Anything more would make them buy tickets to the moon.

Tue, 10/28/2014 - 18:38 | 5387700 silentsock
silentsock's picture

These "Financial" networks and media for the most part work for entities that make their livings by seperating us from our money.

If you do anything based upon what you see or hear from them, you're a fool.

What I always find hilarious is during the news (TV or radio), they report on the DJI, and say they market went up or down, then create a narritave on why it happened. "The Dow gained 50 points, because (insert event) today." As if that's what every trader and the robots made their decisions on.....

Tue, 10/28/2014 - 19:06 | 5387823 Cthonic
Cthonic's picture

What is Voldex.

Tue, 10/28/2014 - 18:43 | 5387715 walküre
walküre's picture

Who cares what the paper price of gold is? These girations of a couple hundred Dollars to the upside or downside are just blips on the radar screen. Gold is currency. Everyone knows it. Americans are lucky to be able to convert Dollars for gold at a reasonable price.

Wed, 10/29/2014 - 09:20 | 5389364 agstacks
agstacks's picture

Gold is money. FIFY

Wed, 10/29/2014 - 09:21 | 5389366 agstacks
agstacks's picture

Gold is money. FIFY

Tue, 10/28/2014 - 18:46 | 5387733 magnumpk
magnumpk's picture

When guys like Scott Nations get around the recommending gold, there won't be any available for purchase at any price.

Tue, 10/28/2014 - 18:48 | 5387739 Gringo Viejo
Gringo Viejo's picture

Get what you have out of the system. Gold, silver, beanie babies, whatever.

Get it out and hold it yourself.

Before this is over, these fuckers on wall street will break you in half and steal every last dime you got.

Tue, 10/28/2014 - 19:33 | 5387932 Bemused Observer
Bemused Observer's picture

Absolutely! The less you have in the system, the more you might actually be able to salvage.

Tue, 10/28/2014 - 20:55 | 5388221 p00k1e
p00k1e's picture

The question is will the current property rights structure be enforced at the bottom.

Does a Cuba event stalk us?  Stalin event?  Mao?  A ‘civil’ (yea, right) event when the U.S. finally balkanizes, after years of bloodshed? 

Tue, 10/28/2014 - 22:03 | 5388449 ricky663
ricky663's picture

They (State AGs / US Justice Dept) threw out Real Estate property rights and clean land title when they "settled" with the banks on the Mortgage fraud (MBS) issue.
Why would they back peddle on this lucrative crime? They (1%) win and walk, 99% of population loses/pays.

Tue, 10/28/2014 - 21:26 | 5388312 RaceToTheBottom
RaceToTheBottom's picture

And the less they can leverage and use against you.

The systm is not for your benefit.

Tue, 10/28/2014 - 18:49 | 5387741 Joe Tierney
Joe Tierney's picture

I'm even more Piggly-Wiggly for gold and silvuh after watching this interview.

 

Remember - there's an all-out effort to make things look good so the Demon-O-Crats don't lose their asses next Tuesday.

 

This is all staged for the 'benefit' of the uninformed SFB's roaming amerika.

Tue, 10/28/2014 - 18:55 | 5387764 'argar the 'orrible
'argar the 'orrible's picture

Concerning the Swiss Gold Intitiative.,

'Its not the votes that count, its who counts the votes'. (unknown author)

Tue, 10/28/2014 - 19:43 | 5387968 Romanov
Romanov's picture

I believe it was Stalin.

Tue, 10/28/2014 - 18:56 | 5387769 sainchaw
sainchaw's picture

i cant take these hosts seriously... where do they find these stupid chicks?

Tue, 10/28/2014 - 18:56 | 5387771 AUD
AUD's picture

Schiff's been right more often than he's been wrong, but he's still been wrong enough for anyone with half a brain to know that he isn't the last word.

Tue, 10/28/2014 - 18:55 | 5387772 BaggerDon
BaggerDon's picture

Scott Nations could not tie Schiff shoes...........!  and the bimbette on the CONTRARIAN NEWS BUBBLE CHANNEL needs to hawk jewelry on QVC...

Tue, 10/28/2014 - 21:29 | 5388316 RaceToTheBottom
RaceToTheBottom's picture

She needs to read the naked news.

 

Tue, 10/28/2014 - 18:57 | 5387788 reader2010
reader2010's picture

If QE made every person's life better,  the guy who invented would be treated as God. Unfortunately,  it has only made only a handful of people richer. So it's a fraud. 

Tue, 10/28/2014 - 18:58 | 5387794 gwar5
gwar5's picture

Leonard the Monkey, stock picker, is beta testing a financial network to blow CNBC away.

Tue, 10/28/2014 - 18:59 | 5387800 Smooth Criminal
Smooth Criminal's picture

That bitch is so snarky and smug.  She needs to be raped and thrown into the East River.

Tue, 10/28/2014 - 19:02 | 5387808 Budd aka Sidewinder
Budd aka Sidewinder's picture

Did she actually say,'people are going to take the money they're now saving on gas and invest in the market'????

No they're going to splurge on some gourmet dog food.  No more of that Alpo shit

Tue, 10/28/2014 - 19:17 | 5387861 Bemused Observer
Bemused Observer's picture

I can't watch the video because I disabled Java, but I have no doubt that was exactly what she said.

Wed, 10/29/2014 - 01:20 | 5388784 Gold Eyed Cat
Gold Eyed Cat's picture

I know! I literally laughed out loud at that bitch when she said it.  Hey!  Did I just save $50 bucks filling up my gas tank?  Fuck yeah!  Break out the Courvoisier and send me the carpet samples for my new custom Grady-White Marlin!

Wed, 10/29/2014 - 03:09 | 5388870 The9thDoctor
The9thDoctor's picture

The $20 a month that Americans are saving by gas prices falling can now be spent toward their credit card interest.

Tue, 10/28/2014 - 19:08 | 5387828 orangegeek
orangegeek's picture

Jackie DeAngelis - the hot thing on the left, is a mindless bitch.

 

When no QE, then massive sell off.  Pretty simple stuff.

 

Jackie DeAngelis is just a MSM windbag that makes shit up after the markets move.

 

Schiff is thinking safe haven - he's wrong - USD is safe haven until the Euro bottoms - near 2002 lows.

Tue, 10/28/2014 - 19:22 | 5387886 eucalyptus
eucalyptus's picture

i prefer bloomberg's asian bitches. Emily Chang and Betty Liu. 

Furthermore Stephanie Ruhle gives off a true-freak vibe on the screen - none of the other airheads do. 

Tue, 10/28/2014 - 19:08 | 5387830 badger10
badger10's picture

Let's see we have six years of zero interest rates and we still have not expanded our economy. If you take the last three quarters of GDP and average it out comes out to 1.5 %. So were is the growth in our economy with the financial engineering. We are seeing a programed bull market with the Fed as the stopper. When you put up a market artificially it comes down with a thud! Just depends when.

 

Tue, 10/28/2014 - 20:18 | 5388104 BeerMe
BeerMe's picture

We haven't seen growth exactly because of zero interest rates.  Savings to make capital investments to expand is very difficult when you are already losing because of inflation.  It is great for banks though because they expand their cash without having to give any back.  Basically bank customers are giving zero interest loans while the banks give their "customers" 4-7% interest on any loans through them.  Quite the scheme.

Tue, 10/28/2014 - 19:09 | 5387834 badger10
badger10's picture

Let's see we have six years of zero interest rates and we still have not expanded our economy. If you take the last three quarters of GDP and average it out comes out to 1.5 %. So were is the growth in our economy with the financial engineering. We are seeing a programed bull market with the Fed as the stopper. When you put up a market artificially it comes down with a thud! Just depends when.

 

Tue, 10/28/2014 - 19:08 | 5387835 badger10
badger10's picture

Let's see we have six years of zero interest rates and we still have not expanded our economy. If you take the last three quarters of GDP and average it out comes out to 1.5 %. So were is the growth in our economy with the financial engineering. We are seeing a programed bull market with the Fed as the stopper. When you put up a market artificially it comes down with a thud! Just depends when.

 

Tue, 10/28/2014 - 19:11 | 5387840 q99x2
q99x2's picture

Good reminder of why I don't go to CNBC

Tue, 10/28/2014 - 19:13 | 5387844 Romanov
Romanov's picture

Gold and Silver prices are being manipulated. No doubt about that.

CNBC - can't imagine who istens to them anymore.  In the winter of 2005, they had a guest on who said that real estate bubble would burst in the not too distant future because it was unsustainable.  They actually laughed at him.  I believe that July of 2005 was the top of the market at least in California.

Tue, 10/28/2014 - 19:14 | 5387849 seek
seek's picture

I have no doubt of two things: 1) that gold will sit in the doldrums for months or even years longer and 2), to Schiff's point, gold will go higher.

When gold goes past $1,700 again, I suspect we'll see a $500 move in under a week and no "man in the street" will ever profit from it when it happens.

Tue, 10/28/2014 - 19:17 | 5387868 Hohum
Hohum's picture

Isn't this love of gold an admission that economic growth (net of debt) is a thing of the past?

Tue, 10/28/2014 - 20:50 | 5388123 RaceToTheBottom
RaceToTheBottom's picture

NET economic growth did not happen

You just need to take into account all that was spent to achieve any growth.

CNBC has Fast Money as long term investing.

Tue, 10/28/2014 - 19:27 | 5387908 frankly scarlet
frankly scarlet's picture

the sharp pencils need more muppets in a market place where everything is manipulated to keep the house of cards standing. Earning to price is a total disconnect. Precious metals as enemy to the Fed's currency is smashed constantly. whoever owns the Fed. The question to ask is can they do this idefinitely or will some event bring it all crashing down, real or contrived by the forces of chaos or the banksters themselves? I have about 10% of my total worth in P.M's as insurance and some silver and paper currency as emergency cash just in case and sleep well at night.

Tue, 10/28/2014 - 19:30 | 5387920 w4mps
w4mps's picture

It all depends on the time frame you're analyzing. On a quarterly chart, gold has been in a downtrend since Sept, 2011. The bottom of that move has been holding at that level since July, 2013 and could very well be basing here for a move higher. Who knows?  The S&P has been in an uptrend since April, 2009 on a quarterly basis. On a monthly chart, a case can certainly be made that the uptrend has been broken.  The same holds true on a weekly and daily, in spite of the current short squeeze and Fed criminal meddling. Time to be very cautious.  I like Peter and I think he's correct long term, but who makes investment decisions based on CNBC "gurus" ?   I agree you should have some precious metals.  But what do you do with them? They're not currency. You can't take them to the grocery store. You can't trade gold like stocks. So it's a hedge - fine. Have some, put it away and move on.  I started telling my wife when the commercials to buy gold began running ad infinitum in 2012, that the likely direction for gold would be down. After all, these guys are trying to sell their gold at high prices.  They're not buying commercial time to help you get rich.  If you think they are, you're a fool.  Then they switched to silver. Same story. I can't wait for them to start touting Molybdenum.  Anyone who invests in the market on longer than a weekly basis, is asking for trouble. Because you won't hear anything from the touters on CNBC until it's way too late.  

Tue, 10/28/2014 - 19:32 | 5387936 TinF0ilHat
TinF0ilHat's picture

I think Peter Schiff is right. His timing is off. But how can you time a manipulated market??? You can't. Other countries are de-dollarizing, lowering demand for Dollars. These hacks on CNBC think all is well because the stawk market is at an all time high and metals are down, so PM investors are stupid. So if I followed CNBC's advice, I would shun metals at the lows and buy stawks at all time highs. Ya, real fucking smart. That is like not buying stock when they were down after the financial crisis and buying $50 silver and $1900 gold. """"no no, don't BTFD, we want you to buy TFATH"""!!!

Tue, 10/28/2014 - 19:36 | 5387948 Tom Green Swedish
Tom Green Swedish's picture

Ok, so everybody knows the stock market always goes up because of inflation just like the prices of everything is this world.  You bought 1000 shares of Philip Morris in 1962 you have 8 million dollars today.  Ok great.

So there isn't much to it. Wrong.  It has been made into some ridiculous event with hyper traders, theives, insider trading, rigging, flash crashes, CDS's, ETF's, mutual funds, I could go on and etc etc.

Ok so now I just decide to throw 8000 dollars into the stock I think will be around for the next five decades and I get a super return each year as long as I do not pull out of the market.

All these bubbles don't mean a thing.  The money is just on paper.  After all most people do not sit there and trade stocks all day they just have 401K's with crappy basket options. If they did trade stocks and commissions were low the market would have real liquidity.  But where would that get anybody? Would it create a bubble?  Yet it would just like it does with the machines.  They are programmed to make it higher since inception.  You take out the psychology of the human mind and it just ends up being a bunch of machines playing a poker game.

So the real question and the only question that matters is:  Will the 1929 crash be repeated?  The answer to that question is most likely no it never will.  So don't worry about little crashes or even big crashes.  The paper money comes back or stays the same.  Provided you have one problem here.  

Peter Schiff is not a dumb man in economics.  Maybe he royally screwed up the gold call.  Hell that was a crazy bet - but he may very well be right.  But with QE he is right although there are differences between Japan QE and USA QE, the end result could be a crash and a period of stagnant equity prices because of the stock buyback program.  If US corporations did not buy stocks the market would not have went up however if you do get a Radio Shack type problem with the broader blue chip stocks they might never recover if a crash ensues. 

But still it does not matter.  Even if the stock market does not go parabolic straight up there is still money to be made. Why? Even if it see saws up and down it is the same as going up if you buy low and sell high, but it takes out the buy and hold forever approach.  You might still make money but the market caps are not as high.  So what?

 

Even if gold did not go to 5000 and it went from 1000 to 2000 than from 2000 to 1000 than from 1000 to 2000 than from 1000 to 3000 than back to 1000 as long as you sold at the right times it would have been like it going to 5000.  Point is the market is dynamic.  Name 10 stocks that have been around as long as Philip Morris (It isn't even Philip Morris anymore it is Altria). I'll bet you can't.  GM for 50 years was the king of the hill, now no better than VW or Toyota perhaps even worse.

During this time Altria was becoming the best stock to own in the market here is what the Dow Jones consisted of:

4 stocks still exist.  

Dupont, P&G, Exxon, Chevron and United Tecnologies.

Since 1962 stock returns for Dupont have been 400 percent.  P&G / Exxon / Chevron 5000 percent / United Technologies 9,300 percent and MO 13,000 - before the crash starting on 1/1/2007 25,000 percent.

 

Allied Chemical Not On list Aluminum Company of America * ALCOA Not on List American Can Turned into a financial services company American Telephone and Telegraph Company Now AT&T was not on the list until the Iphone popped in 2004 American Tobacco B Current RJ Reynolds Not on List Anaconda Copper * Liability for BP Bethlehem Steel US Steel not on list. Chrysler Half Owned by Fiat  E. I. du Pont de Nemours and Company Still on the list Eastman Kodak Company Filed Ch. 11 2012 General Electric Company Still on the list General Foods Aquired by Kraft not on list General Motors Corporation Not On list Goodyear Not On list International Harvester Not On list International Nickel Not On list International Paper Company Not On list Johns-Manville Not On list Owens-Illinois Glass * Not On list Procter & Gamble Company Still on the list Sears Roebuck & Company Not On list Standard Oil of California Chevron Still on list Standard Oil (NJ) Exxon still on list Swift & Company * Brazilian Company Texaco Incorporated (formerly Texas Company) Chevron Union Carbide Part of Dow (was not on list United Aircraft Became United Technologies U.S. Steel Shell of a company Westinghouse Electric Controlled by Toshiba Woolworth Completely Gone

 

 

Tue, 10/28/2014 - 19:39 | 5387955 razorthin
razorthin's picture

I'd think I'd have to slap her while I f&^% her.

Tue, 10/28/2014 - 19:51 | 5387999 mendolover
mendolover's picture

Got to sounding like a rusting nail hitting a buzz saw after a while.  Waaaaaa...waaaaa!

Tue, 10/28/2014 - 20:49 | 5388202 SmallerGovNow2
SmallerGovNow2's picture

I wouldn't fuck that cunt with your dick...

Tue, 10/28/2014 - 19:41 | 5387964 SharkBit
SharkBit's picture

Scott's Trade of the day.  Flip a coin you morons.  Blathering idiots which is CNBC.  Give it to Schiff.  If markets were not rigged, long gold would be a no brainer.  Still stacking as a hedge for the pending meltdown.  Also a no brainer.  10% gold is a wise persons position.  Only fools are in the market with any significant stake today.

Tue, 10/28/2014 - 19:46 | 5387976 razorthin
razorthin's picture

Schiff would be escorted off the set if he stated the fucking obvious reason why gold is not at $5k - that it, along with oil are markets that are completely made by the manipulators.  Jesus, he has nothing left to lose - I wish he would just say it.

Tue, 10/28/2014 - 21:48 | 5388399 Hal n back
Hal n back's picture

scott nation is shorting the gold dec contract--how much gold does he have to be able to short it.

 

 

Note he stops out at 1240

Tue, 10/28/2014 - 19:42 | 5387970 limacon
Tue, 10/28/2014 - 19:43 | 5387972 drchris
drchris's picture

Fed's balance sheet since 2009: + 3 Trillion

Real GDP since 2009: +1.5 Trillion

There is no need for discussions. Just show that 1 slide and everyone can go home.

Tue, 10/28/2014 - 22:07 | 5388460 MeBizarro
MeBizarro's picture

Yup.  Easy 1-page PPT slide and a 15-minute meeting.  

Tue, 10/28/2014 - 19:45 | 5387974 Panic Mode
Panic Mode's picture

Christ, CNBC is so retarded spasticly low, bringing up the old clip trick. If Peter brings up the old clips of CNBC, it will look like a feng shui program.

Tue, 10/28/2014 - 19:47 | 5387983 Cynthia11640
Cynthia11640's picture

I found it interesting that Scott Nations does not dispute a thing Schiff says, that the market lacks fundamentals. Nations just sits there, has nothing to say relevant to Schiff except to ask him if he's ever wrong... He was angry and started a fight because he knows the truth, that the Fed cannot stop printing without a market correction (collapse), he knows that if the public realizes the truth, they would get out of the market... and we wouldn't want that. 

So, we sit back and watch in the next few weeks... will Schiff be correct, will there be a QE4

We all know what happens if there isn't one

Tue, 10/28/2014 - 21:34 | 5388337 RaceToTheBottom
RaceToTheBottom's picture

QE4 will be blamed on the EU

Tue, 10/28/2014 - 19:48 | 5387990 mendolover
mendolover's picture

Schiff is far from the only person calling for $5000 gold.

Wed, 10/29/2014 - 03:27 | 5388897 The9thDoctor
The9thDoctor's picture

Yeah, and Sprott calls for $10,000 gold

Tue, 10/28/2014 - 19:49 | 5387991 your_moms_basement
your_moms_basement's picture

Just by taking Peter's advice back in '06 not only did I avoid the Great Fuck Up, but made money during it. I have no complaints, other than he needs to control his uppper lip sweat when he gets pissed. 

Tue, 10/28/2014 - 21:57 | 5388422 webspin
webspin's picture

Then this would be an odd world where you've made money on shiftless's advice but it shifless, lost money in his own fund.

Wed, 10/29/2014 - 10:08 | 5389512 your_moms_basement
your_moms_basement's picture

Get a grip Francis, I took his advice (words), I did not invest with his company, simply sold 3 properties and spread the profits to about 30 different assets.  Little late to the party, ain'tcha?  

Tue, 10/28/2014 - 19:50 | 5387995 Temerity Trader
Temerity Trader's picture

So, duh, perpetual QE is the 'New Normal'.  Why doesn't he just accept it?  So far QE has achieved all the Fed's goals.  Millions are thrilled with their 401k's; fund managers appear smart riding the tide up and get huge bonuses.  Anybody foolish enough to short against the Fed gets taken behind the woodshed. Companies can now report lousy "earnings", falling revs, uncertainty about continuing as a going concern, and if a few weak hands bail, they are soon left crying. The stock is bought with wild reckless abandon, pushed to new heights on Fed hope, within days or even hours.

The Fed can now jawbone the markets higher just with the slightest hint of QE4, 5 and 6. Loose credit provides consumers with the ability to buy anything at any price. Most people haven’t asked the price of a vehicle in years, just how much are the payments? If the banks start to fail, bailouts quickly follow. Talk of housing weakness is met by demands to loosen credit still further.  It has to end ugly, but this can go on for many years first.

Tue, 10/28/2014 - 20:16 | 5388099 the6thBook
the6thBook's picture

Average U.S. car is 11.4 years old, a record high...

Tue, 10/28/2014 - 21:24 | 5388296 p00k1e
p00k1e's picture

It'd be a record'er record if Cash for Clunkers wasn't so successful.

Tue, 10/28/2014 - 20:20 | 5388112 Everybodys All ...
Everybodys All American's picture

Any talk of another QE stimulus program at this point will cause tremendous damage to not only the credibility of the Federal Reserve but the dollar itself. The reserve currency status of the dollar goes into the dumpster nearly immediately. These Federal Reserve members are already walking along the cliff blindfolded and if another QE program is the next step all dollar denominated assets will be dumped with reckless abandon. It may take a while to unfold but it will not take years.

Tue, 10/28/2014 - 22:00 | 5388441 swass
swass's picture

Yes, precisely why I don't think the Fed will do more than hint at more QE.  They are against the corner in the ring and hoping that by making tough faces their opponent might not take that last swing.  They seem to be taking the same approach as the ECB at the exact opposite time.. meaning they are trying to talk up the economy and make people think they'll do 'whatever it takes'.. but they won't.  Contrary to popular belief, the Fed has an interest in self-preservation, and it might be easier to say they 'tried' and fail (while trying to spin to save face) than to go down the rabbit hole any further. 

Wed, 10/29/2014 - 03:34 | 5388900 The9thDoctor
The9thDoctor's picture

The Fed might do another round of QE but they will call it by a different name, and it will totally fool the Wall Street Journal reading crowd.

Numerical Amelioration sounds like a good program.

I used a thesaurus to come up with that name!

Tue, 10/28/2014 - 20:42 | 5388180 SocialismIsCancer
SocialismIsCancer's picture

CORRECT ! The madness CAN go on for many, many, many years, in spite of periodic crashes.

Tue, 10/28/2014 - 21:38 | 5388352 RaceToTheBottom
RaceToTheBottom's picture

As long as:

 

1) You debase Accounting rules to never show losses

2)  Keep people from realizing that Inflation is a lot higher on the stuff you buy than they are saying. Pink slime is sort of like Filet Mignon

3)  HFT and what remains of Markets can be jawboned into big moves up and small slow moves down.

 

But Financial people are prostitutes, they can change on you before you even get out of bed...

You watch.

Tue, 10/28/2014 - 19:59 | 5388030 razorthin
razorthin's picture

Has anyone else entertained the thought that the Umpaloompas past and present could say whatever the fuck they wanted about tapering QE.  What if, instead of being tapered, it was actually increased.  I mean what the fuck - why do we assume that they are only thieves who draw the line at lying??

Tue, 10/28/2014 - 20:03 | 5388052 Panic Mode
Panic Mode's picture

What a Fed bitch

Tue, 10/28/2014 - 20:46 | 5388188 SmallerGovNow2
SmallerGovNow2's picture

Fed CUNT!  Bitch is too nice.  WTF does her young inexperienced ass know about dick?

Tue, 10/28/2014 - 20:06 | 5388055 my_nym
my_nym's picture

Golden Calf, Bull Market, Gold BULLion. 

"The bigger the bull, the bigger the market for bull grows."  --Karl Kraus

 

Peter Schiff is another one of their gatekeepers. Just look at this video:

https://www.youtube.com/watch?v=nJj6og-IJQI

 

Does this remind you of anything? For instance how the MSM handle opposition? What has this got to do with dialogue and a fair exchange of ideas aimed at mutual growth?

This is just a hitpiece, trying to murder Brown by not letting her talk. Evading the issues, impolitely interrupting, scoring points instead of trying to understand what she’s actually saying.

Intellectual dishonesty is one of the hallmarks of the leaders of Libertarianism. How can it be otherwise? They have to claim Bankers hate Gold, otherwise nobody would buy their specie. They have to downplay the importance of interest on the money supply, otherwise nobody would be listening to them. They have to circumvent the deflation issue, because it makes them look so bad in the eyes of everybody who knows what they’re talking about. They have to blame the State and ignore the Money Power, otherwise they lose their sponsors.  Real Currencies

Depends on what you want in life, I guess... but don't pretend to be rebels against the Wizard of Oz while travelling the yellow brick road that he owns a monopoly on.  

If you want to make some false profits, then invest in the bull market and the market for bull.  Shrug.  What I find interesting is that so many true believers and zealots can be conned by Talmudists and occultists.  Not that they view themselves that way, know what they do or sit around marvelling at their place in some sort of nefarious and hidden/occulted conspiracy to rule the world. 

After all, the best liars do not know that they're lying.  You can invest in gold but do not play pretend that there's some sort of integrity in that.  It's still just an economic language.  And you're still refusing "the no place like home" solution of focusing on the priceless things in life and establishing communities that can form governments with integrity that could issue their own currencies.  Something like, "We the peasants..."  Etc.  Gold could be incorporated as a physical limitation on freedumb but it's still just symbolic.          

Tue, 10/28/2014 - 20:07 | 5388060 casaananda
casaananda's picture

Why is the fuck can't I watch this video on my Mac? Anyone else having trouble. It won't open.

Tue, 10/28/2014 - 20:27 | 5388131 Everybodys All ...
Everybodys All American's picture

CNBS probably took it down. I can't see it either.

Wed, 10/29/2014 - 02:36 | 5388830 cornedmutton
cornedmutton's picture

Maybe you should try throwing your Mac off a tall building.  I don't know...worth a try.

Tue, 10/28/2014 - 20:15 | 5388089 Panic Mode
Panic Mode's picture

Christ, I am so looking forward seeing these retards in the next Peter Schiff was right clip.

Tue, 10/28/2014 - 20:19 | 5388103 RaceToTheBottom
RaceToTheBottom's picture

CNBC idiots and Day Traders

Tue, 10/28/2014 - 20:28 | 5388138 Peter Pan
Peter Pan's picture

There is no right or wrong in investing but there is timing. And it's timing that either makes you or breaks you on most occasions.

For plebs who need to trade the share market in order to make a return, good luck to them if they can get their picks and short term timing right.

For those that don't need to trade to make a buck for a living, then gold is the way to go for a serious portion of their wealth, when their timing sits within a long termhistorical time line and they are more concerned about the next generation in their family.

Tue, 10/28/2014 - 20:37 | 5388160 SocialismIsCancer
SocialismIsCancer's picture

Gold, just shiny lead, is not an investment, but a sinkhole. I would never put even 1 cent into shiny lead, no matter how much I believe that the monetary-financial-economic system is screwed up - which it is - fragile & vulnerable to abrupt steep declines - which it is.

Instead I invest in real things that have enduring value, eg income-boosting education, training & credentials, income-producing businesses (eg partnerships, franchises, etc), productive farms (esp organic produce farms), and even things to just enjoy life (recreational homes, fishing boats, RVs, etc).

I think that the only forms of shiny lead that might possibly be reasonable investments are unique (rare) pieces of jewelry (workmanship is invested) or rare coins, but definitely NOT bulk bars of shiny lead ! You will be better off buying lead bars (very much cheaper) and just applying the shine with paint :-)

Tue, 10/28/2014 - 21:09 | 5388250 Peter Pan
Peter Pan's picture

I can assure you my friend that there are a lot of people out there who lost everything in franchises or with the wrong business partner. As for farms, you are right providing it doesn't end up in the worst part of California.

As for things to enjoy life I can assure you they cost money to maintain, repair and insure and they eventually die. Holiday houses can also kill you because you end up on ladders cleaning gutters and painting instead of relaxing.

There is no perfect investment but as for calling gold shiny lead, I can only say why didn't humanity have the benefit of such insight for the last 5000 years? LOL.

When humanity stops trading in gold, it starts trading in lead.....bullets.

Tue, 10/28/2014 - 21:40 | 5388356 SocialismIsCancer
SocialismIsCancer's picture

Yes, there are risks with businesses & farms, but I believe that the risks are FAR LESS than with Wall Street financial assets AND I have HUGE control over the risks & decisions in my farms & local businesses, but ZERO control, or even visibility, into the Wall Street financial assets. All my local businesses are in activities that are essential to daily living, so even if there is a big economic crash, my businesses have a higher probability of surviving.

The problems with shiny lead, ie gold:

1. Consumes money, produces zero income, can lose value, as it has been doing very impressively.

2. ALL the government power masters want gold to never be a currency or to be used to back a currency - they have the power and they will exercise it to keep gold value & status down, as they have been doing very impressively.

3. The politicians can easily make all your gold non-convertible into currency so you cannot buy anything with it or just confiscate it - Roosevelt did exacty that and the "Supreme" Court endorsed it - they can and would do it again.

4. The ONLY way that gold becomes useful in practical terms is if you can convert gold into currency - if the politicans block that path or tax it aggressivey, which they easily can & would, then you have a big loser, not a big saviour.

Get a good organic produce farm close to upscale communities & markets and you will have a good income and a business that increases in value, AND you will ENJOY your investment - it greatly improved my life AND my health - I LOVE IT. Gold does zero.

 

Tue, 10/28/2014 - 21:54 | 5388408 Peter Pan
Peter Pan's picture

I respect your point of view but you are talking only from your own experience. With a disappearing middle class around you, do you honestly believe that businesses have really fared so well? You are the exception and not the norm of what is happening.

History is never kind to shopkeepers and small business people when the bottom falls out of the bag.

So what I am saying to you is, "keep going with your business assets but put a little in gold in case you end up having a Fukushima style event in your life where your land and business is worth fuck all."

Wed, 10/29/2014 - 00:05 | 5388517 SocialismIsCancer
SocialismIsCancer's picture

Thank you. I understand & respect your points as well.

For the possible outcome you described as "a Fukushima style event in your life where your land and business is worth fuck all", I have invested in extensive training, equipment & supplies of a military nature, to be tactful in public. If the society really goes to shit, then I will be well-equiped to keep what I have, and take what I want, by the "original" methods, so to speak :-))

Gold cannot protect you either, in fact YOU have to protect the gold !

Tue, 10/28/2014 - 21:45 | 5388368 RaceToTheBottom
RaceToTheBottom's picture

Investing in RVs.....

Yeah, right.

OK, if you are restoring old Airstreams, I could give you that.  

Otherwise....

 

Getoutahere....

Wed, 10/29/2014 - 00:04 | 5388693 SocialismIsCancer
SocialismIsCancer's picture

You need to read correctly to interpret correctly: boats & RVs are an investment in enjoying life, not a financial investment intended to produce a financial gain.

Wed, 10/29/2014 - 03:49 | 5388911 The9thDoctor
The9thDoctor's picture

boats & RVs are an investment

 

I had to clean my glasses to make sure I read that correctly.  Dude, no offense, you might want to look up the defintion of investment.  That's the most idiotic thing I have read in this lenghty comments section.

RVs and boats are the epitome of depreciation.   Seriously, think before you type, because that's foolish what you just said.  That crap might fly on fauxnews.com comment sections, but come on this is a financial site.  At least get your ABCs right on here.

Now I can understand why you crap on gold.  You don't even understand its store of value.

Wed, 10/29/2014 - 07:11 | 5389083 SocialismIsCancer
SocialismIsCancer's picture

You need to read correctly to interpret correctly: I wrote that boats & RVs are an investment in enjoying life, not a financial investment intended to produce a financial gain.

Obviously you are illiterate in addition to stupid, arrogant & insulting, reliable indicators of why you are a failure.

Tue, 10/28/2014 - 20:37 | 5388169 p00k1e
p00k1e's picture

Yummy.  Glad to see him onboard. 

Tue, 10/28/2014 - 20:43 | 5388182 SmallerGovNow2
SmallerGovNow2's picture

Jackie you ignorant paid for CUNT....

Tue, 10/28/2014 - 20:43 | 5388183 Handful of Dust
Handful of Dust's picture

Schiff is 100% correct about the economy, currency, wall street fraud, the Fed, etc ... but who knew no one would ever be prosecuted, who knew the Fed would destroy the Middle Class to manipulate interest rates and prop up house prices and the stwak market for this long.

 

Collpase, as Schiff says, is inevitable. Just hard to predict when with all the antics and fraud going on.

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