Home › Forums › Financial Markets/Economics › Peter Schiff, please continue
- This topic has 44 replies, 9 voices, and was last updated 15 years, 4 months ago by
an.
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AuthorPosts
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November 2, 2007 at 12:57 PM #10798
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November 2, 2007 at 1:09 PM #94832
4plexowner
Participantthe same issue exists with auto loans
and, the banking cartel has created numerous derivative products that are based on the underlying credit-card and auto debt – these derivatives and their underlying debt should be blowing up here shortly
the derivative mountain that is currently collapsing is ONLY the $20 trillion in real-estate related derivatives
at some point in our future (not long I’m thinking) the entire $450+ trillion mountain of derivatives sitting on top of credit-card and auto debt will blow up (along with derivatives based on interest rates, price of oil, etc)
as I said earlier today, the banking industry is in the process of collapsing – don’t be fooled by all the distractions – this is the failure of fiat currency, central banking and reserve banking
we are all witnesses to history
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November 2, 2007 at 3:13 PM #94872
kewp
ParticipantWell the question is how much of the debt is going to be defaulted.
10%? 50%? 100%? Nobody knows. I sure would like to hear an educated guess, though.
I think the real fallout of this is we are going to see the evaporation of what I like to call the “faux riche'”. These are the middle-income folks that having been living the high life on home equity loans and credit cards. I see this entire social class being taken to cleaners.
Which I don’t really have a problem with.
I don’t see this as a collapse. I see it as a correction where the average American will be forced to live within their means. We will still enjoy a higher standard of living than the majority of the world.
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November 2, 2007 at 3:52 PM #94904
4runner
ParticipantWe will still enjoy a higher standard of living than the majority of the world.
YEEE-HAAA!!!! We’re above average!!!! U-S-A!!! U-S-A!!! U-S-A!!!
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November 2, 2007 at 4:02 PM #94908
kewp
ParticipantHey, you are talking to a career B- student, so I don’t see your point.
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November 6, 2007 at 9:09 PM #96478
jimmyle
ParticipantSo with the dollars falling, where should we park our money? 90% of my money is in European and Asian stocks right now.
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November 6, 2007 at 9:45 PM #96498
an
ParticipantYou might want to look at Canadian and Latin America too. All my investments are in European, Asian, Canadian, and Latin American mutual funds. They’ve been treating me well the last 2 years.
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November 7, 2007 at 6:51 AM #96582
jimmyle
ParticipantI have a question on owning foreign mutual funds. Let say I own a mutual fund with 100% Japanese stocks and the fund remains unchanged for the day however the yen appreciate 5% agaist the dollars. Does it mean that I made 5% on that day?
Thanks,
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November 7, 2007 at 8:30 AM #96638
an
ParticipantI don’t think so. At least that’s not what I’m noticing w/ my foreign mutual funds. These funds are run by American companies with American $. They just happen to either buy publicly traded foreign company in American market or converting it to foreign currency to invest in foreign companies. It’s not like the mutual fund just convert the $ into Yen and do nothing with it and converting it.
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November 7, 2007 at 8:30 AM #96699
an
ParticipantI don’t think so. At least that’s not what I’m noticing w/ my foreign mutual funds. These funds are run by American companies with American $. They just happen to either buy publicly traded foreign company in American market or converting it to foreign currency to invest in foreign companies. It’s not like the mutual fund just convert the $ into Yen and do nothing with it and converting it.
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November 7, 2007 at 8:30 AM #96709
an
ParticipantI don’t think so. At least that’s not what I’m noticing w/ my foreign mutual funds. These funds are run by American companies with American $. They just happen to either buy publicly traded foreign company in American market or converting it to foreign currency to invest in foreign companies. It’s not like the mutual fund just convert the $ into Yen and do nothing with it and converting it.
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November 7, 2007 at 8:30 AM #96717
an
ParticipantI don’t think so. At least that’s not what I’m noticing w/ my foreign mutual funds. These funds are run by American companies with American $. They just happen to either buy publicly traded foreign company in American market or converting it to foreign currency to invest in foreign companies. It’s not like the mutual fund just convert the $ into Yen and do nothing with it and converting it.
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November 7, 2007 at 6:51 AM #96643
jimmyle
ParticipantI have a question on owning foreign mutual funds. Let say I own a mutual fund with 100% Japanese stocks and the fund remains unchanged for the day however the yen appreciate 5% agaist the dollars. Does it mean that I made 5% on that day?
Thanks,
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November 7, 2007 at 6:51 AM #96652
jimmyle
ParticipantI have a question on owning foreign mutual funds. Let say I own a mutual fund with 100% Japanese stocks and the fund remains unchanged for the day however the yen appreciate 5% agaist the dollars. Does it mean that I made 5% on that day?
Thanks,
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November 7, 2007 at 6:51 AM #96659
jimmyle
ParticipantI have a question on owning foreign mutual funds. Let say I own a mutual fund with 100% Japanese stocks and the fund remains unchanged for the day however the yen appreciate 5% agaist the dollars. Does it mean that I made 5% on that day?
Thanks,
-
November 6, 2007 at 9:45 PM #96559
an
ParticipantYou might want to look at Canadian and Latin America too. All my investments are in European, Asian, Canadian, and Latin American mutual funds. They’ve been treating me well the last 2 years.
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November 6, 2007 at 9:45 PM #96569
an
ParticipantYou might want to look at Canadian and Latin America too. All my investments are in European, Asian, Canadian, and Latin American mutual funds. They’ve been treating me well the last 2 years.
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November 6, 2007 at 9:45 PM #96576
an
ParticipantYou might want to look at Canadian and Latin America too. All my investments are in European, Asian, Canadian, and Latin American mutual funds. They’ve been treating me well the last 2 years.
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November 6, 2007 at 9:09 PM #96539
jimmyle
ParticipantSo with the dollars falling, where should we park our money? 90% of my money is in European and Asian stocks right now.
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November 6, 2007 at 9:09 PM #96548
jimmyle
ParticipantSo with the dollars falling, where should we park our money? 90% of my money is in European and Asian stocks right now.
-
November 6, 2007 at 9:09 PM #96556
jimmyle
ParticipantSo with the dollars falling, where should we park our money? 90% of my money is in European and Asian stocks right now.
-
November 2, 2007 at 4:02 PM #94963
kewp
ParticipantHey, you are talking to a career B- student, so I don’t see your point.
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November 2, 2007 at 4:02 PM #94971
kewp
ParticipantHey, you are talking to a career B- student, so I don’t see your point.
-
November 2, 2007 at 4:02 PM #94974
kewp
ParticipantHey, you are talking to a career B- student, so I don’t see your point.
-
November 2, 2007 at 3:52 PM #94959
4runner
ParticipantWe will still enjoy a higher standard of living than the majority of the world.
YEEE-HAAA!!!! We’re above average!!!! U-S-A!!! U-S-A!!! U-S-A!!!
-
November 2, 2007 at 3:52 PM #94967
4runner
ParticipantWe will still enjoy a higher standard of living than the majority of the world.
YEEE-HAAA!!!! We’re above average!!!! U-S-A!!! U-S-A!!! U-S-A!!!
-
November 2, 2007 at 3:52 PM #94970
4runner
ParticipantWe will still enjoy a higher standard of living than the majority of the world.
YEEE-HAAA!!!! We’re above average!!!! U-S-A!!! U-S-A!!! U-S-A!!!
-
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November 2, 2007 at 3:13 PM #94926
kewp
ParticipantWell the question is how much of the debt is going to be defaulted.
10%? 50%? 100%? Nobody knows. I sure would like to hear an educated guess, though.
I think the real fallout of this is we are going to see the evaporation of what I like to call the “faux riche'”. These are the middle-income folks that having been living the high life on home equity loans and credit cards. I see this entire social class being taken to cleaners.
Which I don’t really have a problem with.
I don’t see this as a collapse. I see it as a correction where the average American will be forced to live within their means. We will still enjoy a higher standard of living than the majority of the world.
-
November 2, 2007 at 3:13 PM #94935
kewp
ParticipantWell the question is how much of the debt is going to be defaulted.
10%? 50%? 100%? Nobody knows. I sure would like to hear an educated guess, though.
I think the real fallout of this is we are going to see the evaporation of what I like to call the “faux riche'”. These are the middle-income folks that having been living the high life on home equity loans and credit cards. I see this entire social class being taken to cleaners.
Which I don’t really have a problem with.
I don’t see this as a collapse. I see it as a correction where the average American will be forced to live within their means. We will still enjoy a higher standard of living than the majority of the world.
-
November 2, 2007 at 3:13 PM #94937
kewp
ParticipantWell the question is how much of the debt is going to be defaulted.
10%? 50%? 100%? Nobody knows. I sure would like to hear an educated guess, though.
I think the real fallout of this is we are going to see the evaporation of what I like to call the “faux riche'”. These are the middle-income folks that having been living the high life on home equity loans and credit cards. I see this entire social class being taken to cleaners.
Which I don’t really have a problem with.
I don’t see this as a collapse. I see it as a correction where the average American will be forced to live within their means. We will still enjoy a higher standard of living than the majority of the world.
-
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November 2, 2007 at 1:09 PM #94886
4plexowner
Participantthe same issue exists with auto loans
and, the banking cartel has created numerous derivative products that are based on the underlying credit-card and auto debt – these derivatives and their underlying debt should be blowing up here shortly
the derivative mountain that is currently collapsing is ONLY the $20 trillion in real-estate related derivatives
at some point in our future (not long I’m thinking) the entire $450+ trillion mountain of derivatives sitting on top of credit-card and auto debt will blow up (along with derivatives based on interest rates, price of oil, etc)
as I said earlier today, the banking industry is in the process of collapsing – don’t be fooled by all the distractions – this is the failure of fiat currency, central banking and reserve banking
we are all witnesses to history
-
November 2, 2007 at 1:09 PM #94894
4plexowner
Participantthe same issue exists with auto loans
and, the banking cartel has created numerous derivative products that are based on the underlying credit-card and auto debt – these derivatives and their underlying debt should be blowing up here shortly
the derivative mountain that is currently collapsing is ONLY the $20 trillion in real-estate related derivatives
at some point in our future (not long I’m thinking) the entire $450+ trillion mountain of derivatives sitting on top of credit-card and auto debt will blow up (along with derivatives based on interest rates, price of oil, etc)
as I said earlier today, the banking industry is in the process of collapsing – don’t be fooled by all the distractions – this is the failure of fiat currency, central banking and reserve banking
we are all witnesses to history
-
November 2, 2007 at 1:09 PM #94897
4plexowner
Participantthe same issue exists with auto loans
and, the banking cartel has created numerous derivative products that are based on the underlying credit-card and auto debt – these derivatives and their underlying debt should be blowing up here shortly
the derivative mountain that is currently collapsing is ONLY the $20 trillion in real-estate related derivatives
at some point in our future (not long I’m thinking) the entire $450+ trillion mountain of derivatives sitting on top of credit-card and auto debt will blow up (along with derivatives based on interest rates, price of oil, etc)
as I said earlier today, the banking industry is in the process of collapsing – don’t be fooled by all the distractions – this is the failure of fiat currency, central banking and reserve banking
we are all witnesses to history
-
November 2, 2007 at 1:29 PM #94852
SHILOH
ParticipantWhen they are talking about GDP growth –in goods and services –is the growth in financial services or IT or what? Who benefits from it?
Despite some of this recorded *growth* it doesn’t change the truth about the growth in wealth disparity and that for most average Americans, technology has improved our standard of living, but wages don’t keep pace –even with inflation.
An analysis of that would bring some truth to what is happening in our economy.
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November 2, 2007 at 2:31 PM #94864
hipmatt
ParticipantHere is another new video…
Peter on the Glenn Beck show… great show BTW…
http://www.europac.net/Schiff-CNN-11-1-07_lg.asp -
November 2, 2007 at 2:31 PM #94918
hipmatt
ParticipantHere is another new video…
Peter on the Glenn Beck show… great show BTW…
http://www.europac.net/Schiff-CNN-11-1-07_lg.asp -
November 2, 2007 at 2:31 PM #94927
hipmatt
ParticipantHere is another new video…
Peter on the Glenn Beck show… great show BTW…
http://www.europac.net/Schiff-CNN-11-1-07_lg.asp -
November 2, 2007 at 2:31 PM #94929
hipmatt
ParticipantHere is another new video…
Peter on the Glenn Beck show… great show BTW…
http://www.europac.net/Schiff-CNN-11-1-07_lg.asp
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November 2, 2007 at 1:29 PM #94906
SHILOH
ParticipantWhen they are talking about GDP growth –in goods and services –is the growth in financial services or IT or what? Who benefits from it?
Despite some of this recorded *growth* it doesn’t change the truth about the growth in wealth disparity and that for most average Americans, technology has improved our standard of living, but wages don’t keep pace –even with inflation.
An analysis of that would bring some truth to what is happening in our economy.
-
November 2, 2007 at 1:29 PM #94915
SHILOH
ParticipantWhen they are talking about GDP growth –in goods and services –is the growth in financial services or IT or what? Who benefits from it?
Despite some of this recorded *growth* it doesn’t change the truth about the growth in wealth disparity and that for most average Americans, technology has improved our standard of living, but wages don’t keep pace –even with inflation.
An analysis of that would bring some truth to what is happening in our economy.
-
November 2, 2007 at 1:29 PM #94917
SHILOH
ParticipantWhen they are talking about GDP growth –in goods and services –is the growth in financial services or IT or what? Who benefits from it?
Despite some of this recorded *growth* it doesn’t change the truth about the growth in wealth disparity and that for most average Americans, technology has improved our standard of living, but wages don’t keep pace –even with inflation.
An analysis of that would bring some truth to what is happening in our economy.
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November 2, 2007 at 3:06 PM #94876
Arraya
Participanthttp://blogs.telegraph.co.uk/business/ambrosevanspritchard/oct07/skyhasfallen.htm
If you are a bear, you must accept that you will always be wrong in polite society, and you will continue to be wrong all the way down to the bottom of recession. That is the cross that bears must bear.
Over the last three months we have seen a rolling collapse of speculative debt and real estate across half the global economy, yet friends still come over to my desk at the Telegraph, with that maddening look of commiseration on their faces, and jab: “so when is the sky going to fall then, eh”?
Well, excuse me. The sky has fallen. The median price of new homes in the US has crashed from a peak of $262,6000 in March to $238,000 inSeptember. This is a 9pc drop nationwide.
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November 2, 2007 at 3:06 PM #94930
Arraya
Participanthttp://blogs.telegraph.co.uk/business/ambrosevanspritchard/oct07/skyhasfallen.htm
If you are a bear, you must accept that you will always be wrong in polite society, and you will continue to be wrong all the way down to the bottom of recession. That is the cross that bears must bear.
Over the last three months we have seen a rolling collapse of speculative debt and real estate across half the global economy, yet friends still come over to my desk at the Telegraph, with that maddening look of commiseration on their faces, and jab: “so when is the sky going to fall then, eh”?
Well, excuse me. The sky has fallen. The median price of new homes in the US has crashed from a peak of $262,6000 in March to $238,000 inSeptember. This is a 9pc drop nationwide.
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November 2, 2007 at 3:06 PM #94939
Arraya
Participanthttp://blogs.telegraph.co.uk/business/ambrosevanspritchard/oct07/skyhasfallen.htm
If you are a bear, you must accept that you will always be wrong in polite society, and you will continue to be wrong all the way down to the bottom of recession. That is the cross that bears must bear.
Over the last three months we have seen a rolling collapse of speculative debt and real estate across half the global economy, yet friends still come over to my desk at the Telegraph, with that maddening look of commiseration on their faces, and jab: “so when is the sky going to fall then, eh”?
Well, excuse me. The sky has fallen. The median price of new homes in the US has crashed from a peak of $262,6000 in March to $238,000 inSeptember. This is a 9pc drop nationwide.
-
November 2, 2007 at 3:06 PM #94943
Arraya
Participanthttp://blogs.telegraph.co.uk/business/ambrosevanspritchard/oct07/skyhasfallen.htm
If you are a bear, you must accept that you will always be wrong in polite society, and you will continue to be wrong all the way down to the bottom of recession. That is the cross that bears must bear.
Over the last three months we have seen a rolling collapse of speculative debt and real estate across half the global economy, yet friends still come over to my desk at the Telegraph, with that maddening look of commiseration on their faces, and jab: “so when is the sky going to fall then, eh”?
Well, excuse me. The sky has fallen. The median price of new homes in the US has crashed from a peak of $262,6000 in March to $238,000 inSeptember. This is a 9pc drop nationwide.
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