“He’s been right about a lot of stuff Saxxon, especially around 2007 which you conveniently forget...”
He had some things things right in ‘07, I agree. He exaggerated their effects a hundredfold, that’s all. Doesn’t matter, water under the bridge. Peter has basic concepts that are fine. He has a lot of misreads on when and how they will play out. He reminds me of Harry Dent. Dent had some incredible predictions in “The Great Boom Ahead” and they took place, including the real estate crash of 2007ish (predicted in 1993, to within months) and the subsequent record low interest rates. He is down to predicting a crash a year now, and has been wrong for some time. It’s the nature of the biz. Those fellows Prechter and Ruff also come to mind...
Timing is very difficult.
I think Schiff or any economist has given up putting a timeline on things. They have no idea how far the FED will go in juicing the economy and printing money.
They have no idea how long this confidence in the dollar will last but their technically right and sound; once confidence is lost then there will be a crisis.
We will wake up to it one day, Saxxon and it’ll just happen.
Once the inflation genie is out of the bottle it is hard to put back in..
Schiff positions his clients to be ready for this “crisis” whenever it happens i.e out of US dollar assets and into international currencies, dividend yielding stocks, international bonds, gold, silver or whatever.
I think this is a worthwhile strategy if you’re worried about the US dollar, inflation and the shenanigans the FED are up to.