Blast from the Past: Peter Schiff is the Ultimate Contrarian Indicator

The original post in its entirety is here. 

In my professional opinion, rather than an economist or strategist, Peter Schiff is really a sales and marketing strategist because that appears to be how he spends the majority of his time. I state this with complete confidence because I have been noting Schiff's schedule for several years.

Despite the fact that Schiff has positioned himself as an economist, analyst and strategist, rather than discussing critical issues investors actually care about like earnings, he's constantly talking about trivial topics, such as whether the Fed will raise rates over and over instead of talking about relevant issues.

Why might that be? 

Maybe, his so-called "research" results are complete dog shit.

Alternatively, maybe Schiff has a set sales pitch based on some ridiculous scenario which never changes; hence the broken clock designation.

Once you carefully examine Schiff's overall track record of predictions, as well as his record of investment performance and you will see why he has been focusing on trivial events instead of discussing investment and economic forecasts.

When Schiff isn't talking about trivial, conspiracy-like topics, he is repeating his open-ended, chicken little rants, while directing the sheep to his completely useless, self-serving books.

The reason why Schiff focuses on these humpty-dumpty talking points is due to the miserable performance of his mutual funds and his previous track record in just about everything, which has been wrong.

Schiff feels comfortable living out this fictional role as a guy who predicted the financial crisis since he receives support and credit for this inaccurate claim to fame from his Jewish tribesmen.

How can a financial adviser claim to have predicted the financial crisis, yet his clients ended up getting steamrolled during the financial crisis?

All one has to do is examine his 2007 book, Crash Proof and they will see why that book did little to protect readers from the crash.

In this regard, Schiff is not doing anything illegal because he knows better than to come out and claim he has a good track record or point to specific calls he made that materialized. It's the media that is commiting fraud by supporting this illusion about Schiff.

In the process of allowing air time to be wasted on his played out, broken clock, contrarian indicator sales pitch, the media continues to allow Schiff to present his worn out, open-ended, irresponsible predictions as if he actually has a great track record.

After he rants his predictable irrelevant broken clock lines, he then tells the sheep to buy his book.

After all, this is what Schiff's rants and scare tactics and appeareance are all about anyway; book sales!

Time to wake the hell up people!

Remember, this is the same man who keeps insisting hyperinflation is coming to the US, and has been making this ridiculous claim for close to ten years now.

Remember, this is the same man who keeps insisting that the US dollar is going to be worthless and has been saying this for nearly ten years now, despite the fact that the dollar has blown past 12-year highs.

Remember, this is the same man who has been insisting that investors stay out of the US stock market despite the huge gains it has made.

Remember, this is the same man who insists that gold is "real money" and that gold is headed to at least $5000 and probably $10,000. Yet, he wants your worthless dollars to trade for his gold?

Remember, this is the same man who insists that gold will preserve the value of your currency and he even marketed this Valcambi gold scam as a form of money and claimed that it would protect the value of your dollars!!

The instant you bought his Valcambi gold, you immediately lost 8% of the value of your currency due to commissions alone.

But that's the good news.

Ever since Schiff started selling the Valcambi gold dog shit, it has lost more than 30% due to the decline in gold alone. 

Once you add in the 8% fees charged by Schiff, you could be looking at a 40% loss.

Remember, that's from something Schiff marketed as a form of currency that he claimed held its value relative to the dollar.

Newsflash! 

If you feel for this shit, YOU'VE BEEN HAD!

In closing, when you think about what a complete joke Peter Schiff is, you need to remember that the media continues to air him. As well, you need to think abiout the hundreds if not thousands of other broken clock contrarian indicators he associates with.

Remember, if you want to identify the entire crew of con men, always check and see who they are hanging out with; who is on thier blog rolls, who attends the same conferences and so forth.

The original post is here.