Oh, he saw it coming!
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Transcript of Oh, he saw it coming!
Oh, he saw it coming!
Main ECONOMIC PREDICTIONS made by Peter Schiff
Taavet Malkov
INTRODUCTION
Article from FORTUNE MAGAZINE (http://money.cnn.com)
The necessity of consideration
Creating a opinion via model
INTRODUCTION
Part I - Who is Peter Schiff ?
Part II – ‘Ponzi’ economy
Part III – The coming dollar collapse
Part I - Who is Peter Schiff?
University of California at Berkeley, graduating in 1987
Job as a broker at Shearson Lehman.
In 1996 he and a partner bought an existing broker-dealer business and renamed it Euro Pacific Capital.
In 2005 he moved his headquarters to Darien, Conn.
A Man, who saw it coming!.
Part II – ‘Ponzi’ economy
Dependent on consumption
Fueled by trillions of dollars borrowed mainly from Asian countries like Japan and China
Power to print money
Trying to print out of trouble
Zimbabwe
Trying to print out of trouble
Weimar Republic in 1923
Lots of CASH
but NO purchasing power
Part III – The coming dollar collapse 3 keywords: Bailouts, Debt, Inflation
multiyear recession ahead marked by rampant inflation falling wages soaring commodities prices slumping U.S. stock indexes a steadily weakening dollar which
eventually lose most of it’s value
wicked post-party hangover
Dollar vs. gold
Keyword: inflation
Keyword: Debt
National debt of USA
Keyword: Bailouts
Data from december 2007- november 2008
Outtake: total 7.2 trillion
Peter’s personal advice
Get your money out of the U.S. dollar into more fundamentally sound
currencies (like the Swiss franc or the Singapore dollar)
buy precious metals buy foreign dividend-paying stocks,
with an emphasis on natural-resources companies.
Peter’s advice for US government Shrink the government radically cancel all bailouts immediately ‘’take plenty of tough medicine,
and let the free market do its job - however harsh it may be for’’
Mr doom
Question
Should one form opinion based on his information?
Thank you for listening