Peter Schiff warns of bread lines and says UE will get far worse.

[Soul Crusher]

I hope this man gets in the Senate.  He has more understanding of basic economics than the 535 fools in the congress and Senate combined. 

[Soul Crusher]

I can only imagine Schiff battling with Boxer & Feinstein.

[240 is Back]

Will bread lines offer white, wheat, and whole grain options?  I'm not a fan of white bread, but I think I would like it once or twice per week to keeps things fresh.

Also, will jelly and butter be served? 

[Bindare_Dundat]

WE're alredy at record number of people collecting food stamps. That is the new bread line.

[Straw Man]

can you find the clip where he predicts gold will be @ $2000 an ounce in 2009?

[Soul Crusher]

can you find the clip where he predicts gold will be @ $2000 an ounce in 2009?

Its right along the clip with Obama saying if we dont pass the stimulus bill UE wont go past 8%. 

Gold is at all time highs and moving higher.  China is telling its citizens to buy gold too.  What does tha ttell you?

[Straw Man]

Its right along the clip with Obama saying if we dont pass the stimulus bill UE wont go past 8%. 

Gold is at all time highs and moving higher.  China is telling its citizens to buy gold too.  What does tha ttell you?

what does it tell  you comrade?

I assume you're selling your dollars and buying gold

[Soul Crusher]

what does it tell  you comrade?

I assume you're selling your dollars and buying gold

It tells me that inflation is going to hit hard and the dollar is set to collapse due to the policies of Obama/Geitner/Bernake.

People around the world are seeking refuge and safe harbor from the reckless policies of this admn that are going to lead to a complete collapse of the dollar.   

[Eyeball Chambers]

Will bread lines offer white, wheat, and whole grain options?  I'm not a fan of white bread, but I think I would like it once or twice per week to keeps things fresh.

Also, will jelly and butter be served? 

Just make sure you're not behind Goudy in the bread line... 

[Straw Man]

It tells me that inflation is going to hit hard and the dollar is set to collapse due to the policies of Obama/Geitner/Bernake.

People around the world are seeking refuge and safe harbor from the reckless policies of this admn that are going to lead to a complete collapse of the dollar.   

the dollar is selling off because our rates are low and investors can sell dollars and buy currencies with higher yields or assets with higher risk/potential reward. 

from Bloomberg today:

The greenback declined this week to the lowest level in at least a year against the Australian and New Zealand dollars and the Swiss franc on speculation investors bought high-yielding assets with funds borrowed in the U.S.

The cost of three-month loans in dollars between banks fell to a record low of 0.289 percent today, according to the British Bankers’ Association. The London interbank offered rate, or Libor, is lower than that of the yen and Swiss franc, making the dollar the cheapest funding currency.

[240 is Back]

Just make sure you're not behind Goudy in the bread line... 

hahahahah  hahahaaaaaaaaaaaa

[Bindare_Dundat]

can you find the clip where he predicts gold will be @ $2000 an ounce in 2009?

I can find you the one where he said gold would hit $1000 in 08 and it did, all the while being mocked on cnbc by people just like you. strawman= Mike Norman #2.

[The True Adonis]

Just make sure you're not behind Goudy in the bread line... 
[/quote
ROFLAFFMFAFOAFAFFAFNFAFA FMFAFOAFOAFOAOOOOOOOOOOO OOOOOOOOOOOOOOOOOOOOOO!

[MM2K]

Obviously I would much rather have Schiff in that seat instead of Dodd, but Im not a big Schiff guy. But if he is going to win it he needs to be more careful about predictions like this. The consequences of being wrong can be worse if youre a politictian. I could have sworn I heard him say one time that we are going the way of Zimbabwe.

[Straw Man]

I can find you the one where he said gold would hit $1000 in 08 and it did, all the while being mocked on cnbc by people just like you. strawman= Mike Norman #2.

I don't recall stating an opinion on this site about gold @ $ 1000/ oz.

it seems that Schiff is  50/50 on his predictions on the price of gold

I could flip a coin and do that

if gold were currently 1800 or even 1500 I would give him a lot more credence

[Bindare_Dundat]

I don't recall stating an opinion on this site about gold @ $ 1000/ oz.

it seems that Schiff is  50/50 on his predictions on the price of gold

I could flip a coin and do that

if gold were currently 1800 or even 1500 I would give him a lot more credence

 So if gold goes to 2000  in March of 2010 instead of 2009, so what? Big deal. The guy has proven himself right many times over, you're just nit picking.  

[brooklynbruiser]

I imagine China is telling them to buy gold with plans to confiscate it or beat them out of it in some way to further cement (LOL) their economic power base.

Gold is at all time highs and moving higher.  China is telling its citizens to buy gold too.  What does tha ttell you?

[MuscleMcMannus]

I like Peter Schiff and I agree with much of what he says.  But he's becoming another talking head with his own agenda.  His company stands to make quite a bit of money if the dollar does in fact crash and the US economy continues to get worse.  So of course he's going to encourage people the way he does.  I'm not saying he's wrong but it just gets a little old. 

[Soul Crusher]

I like Peter Schiff and I agree with much of what he says.  But he's becoming another talking head with his own agenda.  His company stands to make quite a bit of money if the dollar does in fact crash and the US economy continues to get worse.  So of course he's going to encourage people the way he does.  I'm not saying he's wrong but it just gets a little old. 

In all fairness, he has been singing the same tune since 2002.

[Bindare_Dundat]

 His company stands to make quite a bit of money if the dollar does in fact crash and the US economy continues to get worse.  

 So do the clients that take on his investing advice.

The guy has made his predictions public and also stands to lose alot if things go in the opposite direction. Peter can't manipulate the world markets so he can have an agenda all he wants he's still at the mercy of forces beyond his control. I can think of a few institutions that have an agenda and the  influence to fullfill it but I'd rather see that stop happening.

[Straw Man]

So if gold goes to 2000  in March of 2010 instead of 2009, so what? Big deal. The guy has proven himself right many times over, you're just nit picking.  

if gold is 2000 in March of 2010 then we'll call it close enough. 

All it has to do is go up 100% in the next 6 months

[Bindare_Dundat]

if gold is 2000 in March of 2010 then we'll call it close enough.  

All it has to do is go up 100% in the next 6 months

Ok, you're much smarter than Schiff. Is that want you want to hear? Please tell what we can expect in 2010 regarding the economy, gold, the markets, etc...and we'll see how that compares to what Peter is saying. So flip a coin or look into the swirling toilet bowl and make some predictions smarty pants.

[Straw Man]

Ok, you're much smarter than Schiff. Is that want you want to hear? Please tell what we can expect in 2010 regarding the economy, gold, the markets, etc...and we'll see how that compares to what Peter is saying. So flip a coin or look into the swirling toilet bowl and make some predictions smarty pants.

I didn't say I was smarter than him

I only said or suggested that his claim of Gold @ 2000 was bullshit

I said the same thing on this site a year ago or whenever it was he made that claim

there are a few months left this year so maybe he'll still be right

[MuscleMcMannus]

In all fairness, he has been singing the same tune since 2002.

Giving out investing advice and promoting his investment company is one thing...........saying America is going to collapse and we will all we waiting in bread lines is another in my opinion.  It's kind of hysteria now.  Bread lines?  Come on, this is the USA not Zimbabwe.  Not saying it couldn't happen but it's not likely for a long long time. 

[Bindare_Dundat]

Giving out investing advice and promoting his investment company is one thing...........saying America is going to collapse and we will all we waiting in bread lines is another in my opinion.  It's kind of hysteria now.  Bread lines?  Come on, this is the USA not Zimbabwe.  Not saying it couldn't happen but it's not likely for a long long time.  

Sept 4 2009

A Record 35 Million on Food Stamps

Record breaking numbers received food stamps in June, the Department of Agriculture said on Thursday, with more than 35 million Americans receiving assistance. The numbers are 22 percent higher than in June 2008. The number of Americans receiving food stamps rose by more than 700,000 people compared to May. The USDA administers the food stamp program, which was renamed in October as the Supplemental Nutrition Assistance Program, through its Food and Nutrition Service. The program helps to cover grocery costs for poor Americans.