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Oh, he saw it coming!
Main ECONOMIC PREDICTIONS made by Peter Schiff
Taavet Malkov
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INTRODUCTION
Article from FORTUNE MAGAZINE (http://money.cnn.com)
The necessity of consideration
Creating a opinion via model
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INTRODUCTION
Part I - Who is Peter Schiff ?
Part II – ‘Ponzi’ economy
Part III – The coming dollar collapse
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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!.
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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
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Trying to print out of trouble
Zimbabwe
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Trying to print out of trouble
Weimar Republic in 1923
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Lots of CASH
but NO purchasing power
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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
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Dollar vs. gold
Keyword: inflation
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Keyword: Debt
National debt of USA
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Keyword: Bailouts
Data from december 2007- november 2008
Outtake: total 7.2 trillion
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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.
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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’’
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Mr doom
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Question
Should one form opinion based on his information?
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Thank you for listening