This is amazing. With the Dow rallying to 11000 in January of 2006, Peter Schiff tells CNBC market cheerleader Liz (now currently with FOX) about the coming economic crash being led by the fundamental flaws in the dollar. No one listened to this man back then. Back then, he was alone in his view that the US was overconsuming, overindebted, undermanufacturing and undersaving. EVERYTHING this man has predicted has come true except for one. He predicted the dollar would completely collapse and precious metals would soar. Actually, Gold is far outperforming the stock market so I am VERY happy I sold stocks and bought gold, but the dollar recently has been even better than gold. Schiff says that will change. He says now that it is a CERTAINTY the US currency will collapse and take the entire economy down with it. When this video aired, DOW was at 11000 and GOLD was at 0. Now the DOW is 7500 and GOLD is 0. Well, I am sure happy as heck I own Gold, how bout you? The DOW is now only worth 10 ounces of GOLD, Schiff says that the DOW and GOLD will eventually share a 1:1 ratio. I believe him. By the way Liz, Schiff is not a bad guy at all. Just because he saw this crash coming doesn’t make him a bad guy, you fool. All of the cheerleaders that convinced people to stay in stocks and said the economy was fine are the BAD people! I’m a fan of Peter Schiff because he convinced me long ago to get into Gold and out of stocks. So he has been very helpful, while 99% of the IDIOTS on …
Video Rating: 4 / 5