Dooms Day Prediction comes true !

Hello folks........check out this fascinating 10 minute video.

It is the president of the brokerage firm Euro Pacific Capital predicting the credit crunch before it happened.

Lesson: don't fall for so called sucker "experts" that give BS advise. Some idiot was saying the Dow would go to 16,000 points at the end of 2007 ! LOL.

Although Mahathir Mohammad may be the most hated ex prime minister in Malaysia, here are his points that somewhat are true: ‘pyramid investment scheme’ operated by Bernard Madoff as a prime example of what can go wrong in the economies of the developed world. They were actually approved and promoted by the people who were supposed to regulate the financial market. The Federal Reserve Bank of the US under Alan Greenspan actually facilitated these schemes "The economies of the west are so much controlled by the rich who have been pushing for schemes for making money much more quickly. Towards this end, they came up with the idea of less government, of the markets being regulated by the markets themselves" ‘making money from money’ phenomenon soon degenerated into an obsession with capital gains, short-selling, investing in hedge funds and derivatives, trading in currencies and extending loans, resulting in the sub-prime meltdown in the US. The result has been a study in contrasts between the rich countries who are in deep economic crisis because they had the money to gamble and the poor countries "who appear to be less affected by the crisis because they did not have the kind of money the former had". Data made available by the rich economies themselves suggest a fall-back on all sorts of confusing economic terms that cannot be easily understood by average poor country experts, "especially so since the poor countries themselves do not indulge in the kind of dubious activities that they (the rich) have invented for their own benefit". "They (the rich countries) are not going to turn around the economy any time soon. So, we and the rest of the world can safely conclude that the crisis will not end quickly. We will have to live with this crisis for a long time and if we want to cope with it, we must be prepared for the long haul," "The world must work together to come up with monetary and financial systems that will get rid of the gamblers and will not work in favour of the rich countries only. The poor must have a say in any new system."

Peter Schiff was spot on with his predictions. I hear some of the other commentary ***cough***cough***Mike Norman*** talk *hit about Peter on his radio show. The fact is Mike you were wrong and Peter was right.

Even a broken clock is right twice a day.

That is why I don't listen to predictions, anyone can guess where the market is going is and going to be right every now and then. You just don't hear about the times when they were wrong.

Peter schiff was right on some things but what is really disturbing is that his clients lost money even though he was right on some things-

http://globaleconomicanalysis.blogsp...was-wrong.html

Btw, I agree with schiff that the us will face a serious meltdown but IMHO it will happen only when [if] treasury bubble bursts and loaning and therefore maintaining almost everything [city/road infrastructure, social infrastrucutre, medical aid etc] will become almost impossible.

not if it's digital......

yeah it totally agree though. we have CNBC on all day at work, and it is just so freakin laughable. these people have no clue what the heck theyre talking about, and they get paid for it! my sixteen year old sister has even noticed that these guys are full of it, and the only things she is concered about in life are makeup and boys lol.

Gerald Celente makes Peter Schiff look like an optimist.
Trends Research has a pretty darn good track record.

Oh yeah . . . Schiff definitely nailed that one. Welcome back Sith, long time no see!