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Posted on 01/16/2012 8:26:01 AM PST by appeal2
We sat down with Andrew Schiff of EuroPacific Capital. Andrew and his brother Peter have built an alternative investment powerhouse. Together, they have written books and predicted much of the current worldwide economic depression. Andrew believes that around 30 percent of your portfolio should be held in cash, not the paper variety, but rather gold and silver. He's encouraging investors to protect themselves against the inevitable collapse of the dollar and fiat currencies around the globe.
In addition, he really likes foreign high yield dividend stocks. This gives you the ability to participate in a growing company that is sharing its profits with the owners/shareholders, partially insulates the stock against future market disruptions and allows you protection against a declining dollar. Of course nothing is surefire, but the dollar's downward trend since 1971 has been continuous and there's very little reason to believe that it won't continue. While the buck has shown some strength recently, this is in large part due to the Euro's weakness. Eventually Schiff believes the fundamental trend will reassert itself.
Sold my gold and silver about 4 months back. Awesome gain.
Right now gold is a commodity and can be ‘money’ if accepted as a medium of exchange (as could all commodities). Right now, it is not a regular medium of exchange, (ie you can’t go to most stores and drop down a gold nugget in exchange for a good or service), so it is mostly a commodity.
Gold is and always has been a reservoir of wealth. Outside of coinage, jewelry, and some small application as a highly conductive, non-corrodible electrical connection and teeth filling substance, its value lies mostly in its scarcity.
And just so you know, George Soros, champion of the world socialist movement and main supporter of the current regime in the White Hut, has some 11 TONS of the stuff.
All gained by honest and above-board currency transactions, of course. So by market manipulations (buying or selling strategically), he could presumedly cause a massive panic in some smaller economies, and may well be behind the serious fluctations of the euro, not to say some of the pressure on the US dollar. That is also why the price of gold seems to rise sharply, then suddenly slump off.
Talk about gnomes in the banking business. He puts all the Rockefellers and Rothschilds (Bilderberg Group) to shame as pikers, and he is MUCH more malign in his intentions.
ML/N
I have to ask have you tried it?
“Right now, it is not a regular medium of exchange, (ie you can’t go to most stores and drop down a gold nugget in exchange for a good or service)”
I could understand a vendor not taking an ounce of gold for a $5 purchase where they would have to make change, but If I had a fair amount of gold I would think I can purchase with it, lets say a car, gun ( I know this will work), major home appliance...
As long as it can still be exchanged for goods or services it is. That is the entire purpose of money, as a means of exchange for a good or service.
Right now only a tiny percentage of the population realize that Gold and Silver are money. This is a golden opportunity to acquire some.
Fiat currency is made of paper and promises - the value of those promises is currently depreciating at between 7 and 9% a year in the US. This depreciation is an inevitable political response to crushing debt and unfunded liabilities.
One day the dollar will either sharply devalue or it will hyper-inflate. Either way the buying power of Gold and Silver - and their status as money - will become evident to all.
At that stage an oz of silver will have at least 500 dollars of buying value (in today’s dollars). This means that even silver will be too valuable to be ‘over-the-counter’ money.
But we can e.g. use special debit cards to swap ownership of fine weights of silver and gold as a form of payment. GoldMoney.com runs a system like this today.
“As long as it can still be exchanged for goods or services it is. That is the entire purpose of money, as a means of exchange for a good or service.”
Very true, but it is also true that paper is suppose to represent stored energy/resources and when the realization hits that the paper does not represent this anymore is when the problem occurs.
I am not saying you can’t in some cases. I’ve heard of a several places that will. That is why I said it can be both. it is, however, not a regular means of exchange. I would venture to say, 99% or more of retail stores or service providers out there would not accept gold for the simple fact, they do not have the knowledge or skill to authenticate it or determine its correct value.
Here is a simple challenge, go to any grocery store in your town with a gold coin and try to buy the bare necessities for living with it.
If you find places that will exchange goods or services for gold, be sure to tell everyone because they are few and far between.
I do agree I cannot in most cases buy $100 of food from the local store with an Ounce of gold but I dare say much of the reason for this is because they do not follow the value and do not want to make change. I can however go down the street to a gold shop, sell the ounce and use the funds to purchase the food, and have left overs. I also do believe there is a good change this will shift soon to a system much close to bartering and gold/silver exchange becoming more mainstream.
Peter Schiff is NO ECONOMIC GENIUS as he claims, and many of his predictions are totally bogus!
http://globaleconomicanalysis.blogspot.com/2009/01/peter-schiff-was-wrong.html ,
“ For one, Mike Shedlock of Mish’s Global Economic Trend Analysis gave an incredibly detailed review of Schiff’s track record in an article titled, “Peter Schiff was Wrong.” To get a little flavor of the piece, here is an excerpt:
12 Ways Schiff Was Wrong in 2008
•Wrong about hyperinflation
•Wrong about the dollar
•Wrong about commodities except for gold
•Wrong about foreign currencies except for the Yen
•Wrong about foreign equities
•Wrong in timing
•Wrong in risk management
•Wrong in buy and hold thesis
•Wrong on decoupling
•Wrong on China
•Wrong on US treasuries
•Wrong on interest rates, both foreign and domestic”
http://investingcaffeine.com/2009/09/07/the-emperor-schiff-has-no-clothes/
http://seekingalpha.com/article/106824-being-wrong-for-five-years-makes-peter-schiff-right-now
” Now, had you listened to Peter in 2002, 2003, 2004, 2005, 2006 or even 3/4 of 2007, you lost your shirt. Had you placed bets based on Schiff’s market calls, you lost everything you wagered.
The S&P (.INX) went from 1054 in May of 2002 (the date of the interview) to 1561 in Oct. 2007, a 48% gain and the Dow (.DJI) rose 40%.
Banking stocks, the primary victim of the housing bust, went up (JP Morgan (JPM) 36%, Bank of America (BAC) 41%, Wells Fargo (WFC) 39% , Wachovia (WB) 31% and American Express (AXP) 51%) during that time frame (dividends excluded which would dramatically add to results). “”
ECON 101
When you invest in the firm that is the economic competitor to your own family, and your family does poorly, and their competitor does well, and you KEEP investing in your family’s competitor, YOU ARE PUTTING YOUR FAMILY OUT OF WORK!
Schiff doesn’t invest a SINGLE PENNY in AMERICA!!!
pro-immigration and said that there are too many jobs in the US we NEED to let in immigrants???
Peter Schiff admits on camera that he has ZERO money investigated in American corporations or industry. If Peter Schiff refuses to invest in American companies, how can Peter Schiff say he is helping Americans keep their jobs?
This is SCHIFF in his own words!
PETER SCHIFF IS ACTIVELY INVESTING IN FOREIGN COMPETITOR NATIONS THAT ARE PUTTING AMERICANS OUT OF WORK!!!
Here is a link to his investment company and their business dealings from Google
http://www.google.com/search?sourceid=navclient&ie=UTF-8&rlz=1T4RNTN_enUS381US381&q=Schiff+%2b+pacific
http://blogs.courant.com/rick_green/2009/10/peter-schiff-arrives-give-me-m.html
Why do the Ron Paul guys support gay marriage?
http://www.queerty.com/ron-paul-on-gay-marriage-20071210/
http://www.schiffforsenate.com/index.php?q=news/constitutional-candidates-congress
Schiff’s own website endorses Adam Kokesh
http://www.youtube.com/watch?v=nDttx64zk4I
SCHIFF himself admits he believes the Iraq War is a QUAGMIRE in 2009!!
http://www.freespeechmonster.com/?p=103
Schiff has said this many times
http://peterschiffsays.com/defense.htm
Aug 7, 2009, Iraq is a quagmire
http://www.youtube.com/watch?v=P9t741ewbGA
Schiff blamed Iraq on bankers? Not on Saddam?
http://www.youtube.com/watch?v=zo81QDSuixk
What the Tea Parties are not telling you about Peter Schiff:
Libertarians need to infiltrate the GOP
VIDEO of Schiff saying just that!
http://www.youtube.com/watch?v=3ncLTFoTFa8
http://belowthebeltway.com/2009/06/02/peter-schiff-libertarians-need-to-infliltrate-the-gop/
http://www.facebook.com/note.php?note_id=110955225375
http://www.campaignforliberty.com/blog.php?view=19285
http://www.godlikeproductions.com/forum1/message808505/pg1
http://answers.yahoo.com/question/index?qid=20090707200009AAzSQfB
Peter Schiff admits on camera that he has ZERO money investigated in American corporations or industry. If Peter Schiff refuses to invest in American companies, how can Peter Schiff say he is helping Americans keep their jobs?
Peter Schiff repeating talking points of the lunatic left, listen yourself. He says in 2009 that Iraq is a QUAGMIRE when we already won!! He blames the war on bankers and whoever, and not a word about blaming it on terrorists! listen yourself, Schiff repeats left wing talking points to his radio audience about the Iraq war!
http://www.youtube.com/watch?v=zo81QDSuixk
Peter Schiff has made open statements that are quite like the statements of the anti-war leftists, to include the OTHER Ron Paul endorsed candidates Rand Paul and Adam Kokesh
http://www.google.com/search?hl=en&source=hp&q=schiff+%2B+isolationist&aq=f&aqi=g10&aql=&oq=&gs_rfai=
Peter Schiff is pro-choice on abortion
SCHIFF’S OWN WEBSITE CONTAINS AN ENDORSEMENT FOR KOKESH WHERE KOKESH IS NAMED AS AN ANTI-WAR PROTESTER
http://schiffforsenate.com/index.php?q=news/constitutional-candidates-congress
Adam Kokesh
Adam Kokesh is best known as an Iraq War veteran who returned opposed to the war and was a keynote speaker at Ron Paul’s “Rally for the Republic” that competed with the Republican National Convention in the summer of 2008.
Peter Schiff is pro-choice on abortion
http://www.youtube.com/watch?v=nDttx64zk4I
with respect to his personal feelings, he would not make it illegal, women have a right to abort, he is against 3rd trimester,
BUT FIRST TRIMESTR OR SECOND ONE ITS OKAY
Hear it in his own words
pro-immigration and said that there are too many jobs in the US we NEED to let in immigrants???
Peter Schiff admits on camera that he has ZERO money investigated in American corporations or industry. If Peter Schiff refuses to invest in American companies, how can Peter Schiff say he is helping Americans keep their jobs?
This is SCHIFF in his own words!
video of Peter Schiff saying that LIBERTARIANS must infiltrate the Republican Party
http://www.youtube.com/watch?v=3ncLTFoTFa8&playnext_from=TL&videos=gKm7t4j9Wgc
http://www.youtube.com/watch?v=3ncLTFoTFa8
http://www.ustream.tv/recorded/1583738
This second link is the full 2 hours. You cant download it directly, I tried, but hey, you can record it! :)
Peter Schiff appears at a Rand Paul/Adam Kokesh/Peter Schiff fundraiser
http://www.youtube.com/watch?v=AYwb_P-ssK0
Rand Paul, Adam Kokesh, Peter Schiff, and others holding a fundraiser at Webster Hall in New York.
http://www.randpaul2010.com/2009/08/rand-paul-at-webster-hall/
http://www.wallstreetstocks.net/rand-paul-adam-kokesh-peter-schiff-fundraiser
http://www.youtube.com/watch?v=AYwb_P-ssK0&feature=player_embedded
http://www.randpaul2010.com
http://www.schiffforsenate.com
http://www.kokeshforcongress.com
Read it for yourself, folks, all three of these candidates are the type of people that this organization supports and even wants to send money to!
http://www.google.com/search?q=schiff+kokesh+site:http://www.stormfront.org&hl=en&lr=&filter=0
The RAND Paul Money Bomb! Help Elect Rand Paul to U.S.
http://www.stormfront.org/forum/showthread.php?t=624677
Stormfront!!!!
Peter Schiff for Senate Video Blog July 14 2009
http://www.youtube.com/watch?v=nlXqlz31SXk
Ron Paul, Adam Kokesh at Freedom Fest in Las Vegas July 2009
http://www.youtube.com/watch?v=D9oiTQD7Cms
Schiff attended this same conference hosted by Ron Paul and is in this video in the early part
Rand Paul amp Adam Kokesh Take Over The Interwebs
http://www.youtube.com/watch?v=PE9gVeykPAU
GOE Site for Adam Kokesh
http://americanpatriotsagainstkokesh.ning.com/
Adam Kokesh for Congress
http://www.kokeshforcongress.com/posts/whisper-campaigns
Ron Paul Supports Adam Kokesh
http://www.campaignforliberty.com/blog.php?view=20098
This Aint Hell..re Oathkeepers..Adam Kokesh.
Note the connection between Oathkeepers & Ron Paul.
http://thisainthell.us/blog/?p=14586
See, you've been deceived. Money has more purposes or desirable qualities than merely to be exchangeable for some good or service. I could exchange an old book I have for an ice cream cone, but that would not make either the book or the ice cream cone into money. It needs other characteristics to be money. In fact even the dollar you hold to be money is not universally accepted in exchange for goods or services in many places around the world.
The most important characteristic of real money that American currency does not have is that real money must be a reliable store of value. Real money is also something freely exchanged by a buyer and a seller whose value does not depend upon a third party.
ML/NJ
MHS '75
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