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Duration : 0:5:31
[youtube _K5N00U_1Ks]
April 6th, 2010 at 11:05 am
@ …
@QuasiConvexAnalysis Thanks for your thoughts, even though they show your total lack of knowledge on the subject.
I recommend you go long US$ and SPY. You also might want to consider a significant allocation to long term US treasuries. TLT might be an appropriate vehicle.
April 6th, 2010 at 11:05 am
@Zeldovich Thanks …
@Zeldovich Thanks for your thoughts. If you are correct, I will be the first to admit.
I will revisit these posts in a few years to see how things turn out. I’ll let you know.
April 6th, 2010 at 11:05 am
@Dziaji
I …
@Dziaji
I shouldn’t have to google it. Present your reference or accept your epic fail.
April 6th, 2010 at 11:05 am
@Zeldovich google ” …
@Zeldovich google “$23.7 trillion bailout”. It’s public knowledge. It’s not funny. You can’t debate someone if you don’t know the most basic facts…
April 6th, 2010 at 11:05 am
@MikeAnderson97
…
@MikeAnderson97
I didn’t specifically call anyone a luddite. You seem more informed than most here.
April 6th, 2010 at 11:05 am
@bigbrownanimal
…
@bigbrownanimal
I never invested my money with Schiff or anyone else.
April 6th, 2010 at 11:05 am
you know theres …
you know theres something between pete and that red-head.
April 6th, 2010 at 11:05 am
@Zeldovich Just …
@Zeldovich Just because you invested with Schiff and lost does not mean he is an idiot. Investing into a world that is mostly fixed is like gambling only instead of having probability decide your fate you have a select group of people decide it and you have no control over these people. Losing your money in this climate is called a natural consequence
April 6th, 2010 at 11:05 am
That guy sucked. No …
That guy sucked. No wonder the unemployment rate is so high. These companies have no allegience to us.
April 6th, 2010 at 11:05 am
@lsa420
you mean …
@lsa420
you mean the great strategy of owning asian stocks when he has to go through other asian brokerages, does not have an office in asia, does not have direct access to asian companies and does not even have any 1st hand knowledge of asian companies.
brilliant strategy – all i have to do to replicate it is to buy the asian wall street journal, open up the stocks column and start throwing darts and see which ones the darts will pick.
April 6th, 2010 at 11:05 am
@lsa420
1. His …
@lsa420
1. His decoupling assumption
2. gold-based value metrics
3. emphasis on national “saving,”
4. focus on inflation in a disinflatoinary environment
5. wanting to end the Fed and use a gold standard
6. Austrian business cycle beliefs
7. definition of inflation (it’s not monetary base increases)
April 6th, 2010 at 11:05 am
@Dziaji
lol …
@Dziaji
lol Show me where you got that number.
April 6th, 2010 at 11:05 am
@Zeldovich By the …
@Zeldovich By the way, a lot of the “massive losses” that supposedly wiped out his clients in ‘08 have been largely made up by following the same strategies. Several of Peter’s main stock picks have gone up over 500%. I know, I own them.
Everyone lost a load of money in 2008. I’m sure you were short stocks and long the $, since you knew there would be massive liquidation of all assets and fears of a “liquidity trap”. Peter Schiff missed a couple of points, but overall he was right.
April 6th, 2010 at 11:05 am
@Zeldovich Which …
@Zeldovich Which ones are idiotic, if you don’t mind me asking?
From reading some of your other posts, obviously you have all the answers. I’m all ears.
April 6th, 2010 at 11:05 am
@timmymcdee7 Like …
@timmymcdee7 Like she said they are old High School chums or sumthin
April 6th, 2010 at 11:05 am
LMAO peter is …
LMAO peter is hittin on her. GG pete. spit some of that game.
April 6th, 2010 at 11:05 am
@Zeldovich the last …
@Zeldovich the last number I remember was $23.7 trillion and that was in July. A quick google for that number will get you a bunch of news articles. Let me guess, you thought it was $787 billion?
April 6th, 2010 at 11:05 am
@Dziaji
lol …
@Dziaji
lol Where do you come up with a $30 trillion figure?
And the banks expected a bigger bailout, because it would have allowed their managers to avoid their substantial losses on their own companies’ stock. They surely didn’t want or expect a meltdown that would cut into their personal gains so much. Yes, the bonuses outstripped these losses in many cases, but they could have been much more profitable.
April 6th, 2010 at 11:05 am
@Zeldovich they …
@Zeldovich they have already gotten around 30 trillion and this thing just started like 2 yeas ago. They are paying out record bonuses. How much do you think they expected? If you think I’m wrong then prove it.
April 6th, 2010 at 11:05 am
@MikeAnderson97
…
@MikeAnderson97
Volker was correcting years of inflationary monetary policy, while we’re the exact opposite position now.
April 6th, 2010 at 11:05 am
@MikeAnderson97
…
@MikeAnderson97
Nah, If I’m right, this is a long, painful, disinflationary recovery.
April 6th, 2010 at 11:05 am
@Dziaji
You’re …
@Dziaji
You’re quite wrong. Yes, I think the banks did this on purpose, but they expected much more help from the Fed than they got.
April 6th, 2010 at 11:05 am
@Zeldovich listen, …
@Zeldovich listen, the banks knew what they were doing, they knew the bubble was going to burst, and they knew that the treasury and fed would bail them out when it hit the fan. That is the real problem. If you believe in freedom, you should believe that a bank has the right to loan as much as they want to whoever they want and sell those mortgages to whoever will buy them.
April 6th, 2010 at 11:05 am
@Zeldovich Fine, If …
@Zeldovich Fine, If Bernanke were to raise the reserve requirement, I’d applaud that. But I’ll believe that when it happens. NOW, I have to go.
April 6th, 2010 at 11:05 am
@Dziaji
Yes, …
@Dziaji
Yes, the Fed’s interest rate policies were bad during that period, but Fannie and Freddie contributed little to this crisis. Compare the amount of subprime garbage on their books with those at the private banks. It isn’t even close.