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You need demand in order for hyperinflation to occur. A country with a median income of $26000 will never have enough demand for hyperinflation.
simple as that tbh
Wow.
Let me paint a picture for you:
Mr. Schiff's pronouncements of hyperinflation and economic collapse make him the darling in certain circles of the financial/political world. He says what they like to hear.Peter David Schiff (pronounced /ˈʃɪf/; born March 23, 1963) is an American investment broker, author and financial commentator. Schiff is CEO and chief global strategist[1] of Euro Pacific Capital Inc., a broker-dealer based in Westport, Connecticut,[2] CEO of Euro Pacific Precious Metals, LLC, a gold and silver dealer based in New York City,[3] and CEO of Euro Pacific Bank Ltd., a full service bank based in St. Vincent and the Grenadines.[4]
Schiff has appeared as a guest on financial television shows and been quoted in major print publications. He is host of The Peter Schiff Show, an audio show broadcast on terrestrial and internet radio[5] and was formerly host of an internet podcast called Wall Street Unspun[6] now archived as podcasts.[5][7] In 2010, Schiff ran as a candidate in the Republican primary for the United States Senate seat in Connecticut, but lost to Linda McMahon.
Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies. Schiff also voices strong support for the Austrian School of economic thought, first introduced to him by his father.[8][9]
Funny thing though.
He runs an investment fund, two actually, based on investing on the theory that ... wait for it... hyperinflation and economic collapse is right around the corner. He will even supply you with a FREE copy of his book, telling you all about how to protect yourself from hyperinflation through certain kinds of investments.
Coincidence?
I don't think so.
Not that the guy is wrong, simply because he stands to benefit enormously from his pronouncements, but anybody who thinks he is right and wants to throw money at him, well... do your homework and be careful.
Last edited by RandomGuy; 05-24-2013 at 09:00 AM.
You need demand in order for hyperinflation to occur. A country with a median income of $26000 will never have enough demand for hyperinflation.
simple as that tbh
His dad, Irwin, is a nutbar.
, I smell money.
Since no one is calling Schiff on his conflict of interest, I should start a "me too" fund. , I'll even write some plausible sounding books to go with it. Dang. I have been looking for a way to take advantage of certain groups' stupidity, and this sure seems like a sure-fire way to do so.
Now all I ahve to do is get over any moral objections I might have.
Anyone have any good rationalizations for me?
The fool and his money will soon be parted regardless, so you might as well be the beneficiary.
Just run for office. You can have your conscience surgically removed.
How did you come up with that number?
WIKI U.S. median household income $51,144 in 2010... $50,502 in 2011....
http://en.wikipedia.org/wiki/Househo..._United_States
I'm not sure where the conflict is in sstarting an investment fund
based on your investment beliefs. If you invest blindly then that's on you
What if I didn't believe in it, but was just pumping up the fear level to make money? I think it is a bunch of hooey.
Would I have a conflict of interest if I directly profitted from whipping up hysteria?
There is a "potential" conflict of interest, but there are "potential" conflictrs in all of life. We're adults and need to do our due diligence before investing our dollars. Like Porno, girls agree to be degraded. Price of freedom.
Gold is next....
Fools gold..
All hyperinflationary events are fiscal; deflation is purely financial. Always remember this when thinking about the future, short or long.
This would make a lot more sense if you would buy Book #2. Until then, you are just a fool.
You're confusing median household income with median individual income.
dumb right winger
I strongly suspect that the "Free" book is the one that builds up the fear to a fever pitch for the first 2/3s, then HINTS at the kinds of investments and specific funds that can be purchased, and the book you have to actually pay for is the one with the real solutions that, oh-so-coincidentally, happen to be sold and offered by Mr. Schiff, who takes his rightful capitalist management fees.
What a racket. Get people to BUY your sales brochures, er books, then go out and invest in your funds.
HOORAY rationalization! Thank you. I can now take advantage of others with no qualms.
I mean, blaming the victims was something I hadn't considered.
That is not fair...I am not a right winger...You're confusing median household income with median individual income.
So what is the correct number Einstein?
If there is one thing I have learned in the internets, it is to be a bit more hesitant to pull the trigger. It was an honest question, and there were no loaded words. Go back and re-read it.You're confusing median household income with median individual income.
Well meant and freely given.
Heh, I just went to the household URL, backspaced over the word "household" and typed in "personal" then hit entier.
VIOLA!!!
http://en.wikipedia.org/wiki/Persona..._United_States
$27,500 or so.
I would find that a lot more convincing if financial education were a bit more widespread.
THe problem of information assymetry rears it ugly head even with "due diligence".
You can try, but you will soon learn that any dollars earned will be short lived. In business, a good reputation is your ticket to the bank.
There's a ton of financial education and information available. Plus, I always recommend people seek the sservices of a CFP for added protection.
All I have to do is structure it so that there are some modest assets that will do what they are supposed to do in an hyperinflationary environment. That is the beauty of our system. You can be as predatory as you want, and still have the plausible deniability of just being an idiot and there is nothing that the suckers can do after you have their money. Sure they can sue you, but tort reforms have made that... difficult.
Indeed, sound advice.
If you are driven by irrational fear, and you ask the CFP, "will this protect me in the case of hyperinflation"? What will the CFP say, assuming I have structured my go-nowhere funds correctly?
"a good reputation is your ticket to the bank."
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