"Never argue with stupid people. They will drag you down to their level and then beat you with experience." –Mark Twain
If you want to fully understand and appreciate the work of Mike Stathis, from his market forecasts and securities analysis to his political and economic analyses, you will need to learn how to think clearly if you already lack this vital skill.
For many, this will be a cleansing process that could take quite a long time to complete depending on each individual.
The best way to begin clearing your mind is to move forward with this series of steps:
1. GET RID OF YOUR TV SET, AND ONLY USE STREAMING SERVICES SPARINGLY.
2. REFUSE TO USE YOUR PHONE TO TEXT.
3. DO NOT USE A "SMART (DUMB) PHONE" (or at least do not use your phone to browse the Internet unless absolutely necessary).
4. STAY AWAY FROM SOCIAL MEDIA (Facebook, Instagram, Whatsapp, Snap, Twitter, Tik Tok unless it is to spread links to this site).
5. STAY OFF JEWTUBE.
6. AVOID ALL MEDIA (as much as possible).
The cleansing process will take time but you can hasten the process by being proactive in exercising your mind.
You should also be aware of a very common behavior exhibited by humans who have been exposed to the various aspects of modern society. This behavior occurs when an individual overestimates his abilities and knowledge, while underestimating his weaknesses and lack of understanding. This behavior has been coined the "Dunning-Kruger Effect" after two sociologists who described it in a research publication. See here.
Many people today think they are virtual experts on every topic they place importance on. The reason for this illusory behavior is because these individuals typically allow themselves to become brainwashed by various media outlets and bogus online sources. The more information these individuals obtain on these topics, the more qualified they feel they are to share their views with others without realizing the media is not a valid source with which to use for understanding something. The media always has bias and can never be relied on to represent the full truth. Furthermore, online sources are even more dangerous for misinformation, especially due to the fact that search algorithms have been designed to create confirmation bias.
A perfect example of the Dunning-Kruger Effect can be seen with many individuals who listen to talk radio shows. These shows are often politically biased and consist of individuals who resemble used car salesmen more than intellectuals. These talking heads brainwash their audience with cherry-picked facts, misstatements, and lies regarding relevant issues such as healthcare, immigration, Social Security, Medicaid, economics, science, and so forth. They also select guests to interview based on the agendas they wish to fulfill with their advertisers rather than interviewing unbiased experts who might share different viewpoints than the host.
Once the audience has been indoctrinated by these propagandists, they feel qualified to discuss these topics on the same level as a real authority, without realizing that they obtained their understanding from individuals who are employed as professional liars and manipulators by the media.
Another good example of the Dunning-Kruger Effect can be seen upon examination of political pundits, stock market and economic analysts on TV. They talk a good game because they are professional speakers. But once you examine their track record, it is clear that these individuals are largely wrong. But they have developed confidence in speaking about these topics due to an inflated sense of expertise in topics for which they continuously demonstrate their incompetence.
One of the most insightful analogies created to explain how things are often not what you see was Plato's Allegory of the Cave, from Book 7 of the Republic.
We highly recommend that you study this masterpiece in great detail so that you are better able to use logic and reason. From there, we recommend other classics from Greek philosophers. After all, ancient Greek philosophers like Plato and Socrates created critical thinking.
If you can learn how to think like a philosopher, ideally one of the great ancient Greek philosophers, it is highly unlikely that you will ever be fooled by con artists like those who make ridiculous and unfounded claims in order to pump gold and silver, the typical get-rich-quick, or multi-level marketing (MLM) crowd.
If you want to do well as an investor, you must first understand how various forces are seeking to deceive you.
Most people understand that Wall Street is looking to take their money.
But do they really understand the means by which Wall Street achieves these objectives?
Once you understand the various tricks and scams practiced by Wall Street you will be better able to avoid being taken.
Perhaps an even greater threat to investors is the financial media.
The single most important thing investors must do if they aim to become successful is to stay clear of all media.
That includes social media and other online platforms with investment content such as YouTube and Facebook, which are one million times worse than the financial media.
The various resources found within this website address these two issues and much more.
Remember, you can have access to the best investment research in the world. But without adequate judgment, you will not do well as an investor.
You must also understand how the Wall Street and financial media parasites operate in order to do well as an investor.
It is important to understand how the Jewish mafia operates so that you can beat them at their own game.
The Jewish mafia runs both Wall Street and the media. This cabal also runs many other industries.
We devote a great deal of effort exposing the Jewish mafia in order to position investors with a higher success rate in achieving their investment goals.
Always remember the following quotes as they apply to the various charlatans positioned by the media as experts and business leaders.
“Beware of false prophets, which come to you in sheep's clothing, but inwardly they are ravening wolves.” - King James Bible - Matthew 7:15
"It's easier to fool people than to convince them that they have been fooled." –Mark Twain
It's also very important to remember this FACT. All Viewpoints Are Not Created Equal.
Just because something is published in print, online, or aired in broadcast media does not make it accurate.
More often than not, the larger the audience, the more likely the content is either inaccurate or slanted.
The next time you read something about economics or investments, you should ask the following question in order to determine the credibility of the source.
Is the source biased in any way?
That is, does the source have any agendas which would provide some kind of benefit accounting for conclusions that were made?
Most individuals who operate websites or blogs sell ads or merchandise of some kind. In particular, websites that sell precious metals are not credible sources of information because the views published on these sites are biased and cannot be relied upon.
The following question is one of the first things you should ask before trusting anyone who is positioned as an expert.
Is the person truly credible?
Most people associate credibility with name-recognition. But more often than not, name-recognition serves as a predictor of bias if not lack of credibility because the more a name is recognized, the more the individual has been plastered in the media.
Most individuals who have been provided with media exposure are either naive or clueless. The media positions these types of individuals as “credible experts” in order to please its financial sponsors; those who buy advertisements.
In the case of the financial genre, instead of name-recognition or media celebrity status, you must determine whether your source has relevant experience on Wall Street as opposed to being self-taught. But this is just a basic hurdle that in itself by no means ensures the source is competent or credible.
It's much more important to carefully examine the track record of your source in depth, looking for accuracy and specific forecasts rather than open-ended statements. You must also look for timing since a broken clock is always right once a day. Finally, make sure they do not cherry-pick their best calls. Always examine their entire track record.
Don't ever believe the claims made by the source or the host interviewing the source regarding their track record.
Always verify their track record yourself.
The above question requires only slight modification for use in determining the credibility of sources that discuss other topics, such as politics, healthcare, etc.
We have compiled the most extensive publication exposing hundreds of con men pertaining to the financial publishing and securities industry, although we also cover numerous con men in the media and other front groups since they are all associated in some way with each other.
There is perhaps no one else in the world capable of shedding the full light on these con men other than Mike Stathis.
Mike has been a professional in the financial industry for nearly three decades.
Alhough he publishes numerous articles and videos addressing the dark side of the industry, the core collection can be found in our ENCYCLOPEDIA of Bozos, Hacks, Snake Oil Salesmen and Faux Heroes.
Also, the Image Library contains nearly 8,000 images, most of which are annotated.
At AVA Investment Analytics, we don't pump gold, silver, or equities because we are not promoters or marketers.
We actually expose precious metals pumpers, while revealing their motives, means, and methods.
We do not sell advertisements.
We actually go to great lengths to expose the ad-based content scam that's so pervasive in the world today.
We do not receive any compensation from our content, other than from our investment research, which is not located on this website.
We provide individual investors, financial advisers, analysts and fund managers with world-class research and unique insight.
If you listen to the media, most likely at minimum it's going to cost you hundreds of thousands of dollars over the course of your life time.
The deceit, lies, and useless guidance from the financial media is certainly a large contributor of these losses.
But a good deal of lost wealth comes in the form of excessive consumerism which the media encourages and even imposes upon its audience.
You aren’t going to know that you’re being brainwashed, or that you have lost $1 million or $2 million over your life time due to the media.
But I can guarantee you that with rare exception this will become the reality for those who are naïve enough to waste time on media.
It gets worse.
By listening to the media you are likely to also suffer ill health effects through excessive consumption of prescription drugs, and/or as a result of watching ridiculous medical shows, all of which are supportive of the medical-industrial complex.
And if you seek out the so-called "alternative media" as a means by which to escape the toxic nature of the "mainstream" media, you might make the mistake of relying on con men like Kevin Trudeau, Alex Jones, Joe Rogan, and many others.
This could be a deadly decision. As bad as the so-called "mainstream" media is, the so-called "alternative media" is even worse.
There are countless con artists spread throughout the media who operate in the same manner. They pretend to be on your side as they "expose" the "evil" government and corporations.
Their aim is to scare you into buying their alternatives. This addresses the nutritional supplements industry which has become a huge scam.
Why Does the Media Air Liars and Con Men?
The goal of the media is NOT to serve its audience because the audience does NOT pay its bills.
The goal of the media is to please its sponsors, or the companies that spend huge dollars buying advertisements.
And in order for companies to justify these expenses, they need the media to represent their cause.
The media does this by airing idiots and con artists who mislead and confuse the audience.
By engaging in "journalistic fraud," the media steers its audience into the arms of its advertisers because the audience is now misled and confused.
The financial media sets up the audience so that they become needy after having lost large amounts of money listening to their "experts." Desperate for professional help, the audience contacts Wall Street brokerage firms, mutual funds, insurance companies, and precious metals dealers that are aired on financial networks. This is why these firms pay big money for adverting slots in the financial media.
We see the same thing on a more obvious note in the so-called "alternative media," which is really a remanufactured version of the "mainstream media." Do not be fooled. There is no such thing as the "alternative media." It really all the same.
In order to be considered "media" you must have content that has widespread channels of distribution. Thus, all "media" is widely distributed.
And the same powers that control the distribution of the so-called "mainstream media" also control distribution of the so-called "alternative media."
The claim that there is an "alternative media" is merely a sales pitch designed to capture the audience that has since given up on the "mainstream media."
The tactic is a very common one used by con men.
The same tactic is used by Washington to convince naive voters that there are meaningful differences between the nation's two political parties.
In reality, both parties are essentially the same when it comes to issues that matter most (e.g. trade policy and healthcare) because all U.S. politicians are controlled by corporate America. Anyone who tells you anything different simply isn't thinking straight.
On this site, we expose the lies and the liars in the media.
We discuss and reveal the motives and track record of the media’s hand-selected charlatans with a focus on the financial media.
To date, we know of no one who has established a more accurate track record in the investment markets since 2006 than Mike Stathis.
Yet, the financial media wants nothing to do with Stathis.
This has been the case from day one when he was black-balled by the publishing industry after having written his landmark 2006 book, America's Financial Apocalypse.
From that point on, he was black-balled throughout all so-called mainstream media and then even the so-called alternative media.
With very rare exception, you aren't even going to hear him on the radio or anywhere else being interviewed.
Ask yourself why.
You aren't going to see him mentioned on any websites either, unless its by people whom he has exposed.
You aren't likely to ever read or hear of his remarkable investment research track record anywhere, unless you read about it on this website.
You should be wondering why this might be.
Some of you already know the answer.
The media banned Mike Stathis because the trick used by the media is to promote cons and clowns so that the audience will be steered into the hands of the media's financial sponsors - Wall Street, gold dealers, etc.
Because the media is run by the Jewish mafia and because most Jews practice a severe form of tribalism, the media will only promote Jews and gentiles who represent Jewish businesses.
And as for radio shows and websites that either don't know about Stathis or don't care to hear what he has to say, the fact is that they are so ignorant that they assume those who are plastered throughout media are credible.
And because they haven't heard Stathis anywhere in the media, even if they come across him, they automatically assume he's a nobody in the investment world simply because he has no media exposure. And they are too lazy to go through his work because they realize they are too stupid to understand the accuracy and relevance of his research.
Top investment professionals who know about Mike Stathis' track record have a much different view of him. But they cannot say so in public because Stathis is now considered a "controversial" figure due to his stance on the Jewish mafia.
Most people are in it for themselves. Thus, they only care about pitching what’s deemed as the “hot” topic because this sells ads in terms of more site visits or reads.
This is why you come across so many websites based on doom and conspiratorial horse shit run by con artists.
We have donated countless hours and huge sums of money towards the pursuit of exposing the con men, lies, and fraud.
We have been banned by virtually every media platform in the U.S and every website prior to writing about the Jewish mafia.
Mike Stathis was banned by all media early on because he exposed the realities of the United States.
The Jewish mafia has declared war on us because we have exposed the realities of the U.S. government, Wall Street, corporate America, free trade, U.S. healthcare, and much more.
Stathis has also been banned by alternative media because he exposed the truth about gold and silver.
We have even been banned from use of email marketing providers as a way to cripple our abilities to expand our reach.
You can talk about the Italian Mafia, and Jewish Hollywood can make 100s of movies about it.
BUT YOU CANNOT TALK ABOUT THE JEWISH MAFIA.
Because Mr. Stathis exposed so much in his 2006 book America's Financial Apocalypse, he was banned.
He was banned for writing about the following topics in detail: political correctness, illegal immigration, affirmative action, as well as the economic realities behind America's disastrous healthcare system, the destructive impact of free trade, and many other topics. He also exposed Wall Street fraud and the mortgage derivatives scam that would end of catalyzing the worst global crisis in history.
It's critical to note that the widespread ban on Mr. Stathis began well before he mentioned the Jewish mafia or even Jewish control of any kind.
It was in fact his ban that led him to realize precisely what was going on.
We only began discussing the role of the criminality of the Jewish mafia by late-2009, three years AFTER we had been black-listed by the media.
Therefore, no one can say that our criticism of the Jewish mafia led to Mike being black-listed (not that it would even be acceptable).
If you dare to expose Jewish control or anything under Jewish control, you will be black-balled by all media so the masses will never hear the truth.
Just remember this. Mike does not have to do what he is doing.
Instead, he could do what everyone else does and focus on making money.
He has already sacrificed a huge fortune to speak the truth hoping to help people steer clear of fraudsters and to educate people as to the realities in order to prevent the complete enslavement of world citizenry.
Rule #1: Those With Significant Exposure Are NOT on Your Side.
No one who has significant exposure should ever be trusted. Such individuals should be assumed to be gatekeepers until proven otherwise. I have never found an exception to this rule.
Understand that those responsible for permitting or even facilitating exposure have given exposure to specific individuals for a very good reason. And that reason does not serve your best interests.
In short, I have significant empirical evidence to conclude that everyone who has a significant amount of exposure has been bought off (in some way) by those seeking to distort reality and control the masses. This is not a difficult concept to grasp. It's propaganda 101.
Rule #2: Con Artists Like to Form Syndicates.
Before the Internet was created, con artists were largely on their own. Once the Internet was released to the civilian population, con artists realized that digital connectivity could amplify their reach, and thus the effectiveness of their mind control tactics. This meant digital connectivity could amplify the money con artists extract from their victims by forming alliances with other con artists.
Teaming up with con artists leads to a significantly greater volume of content and distraction, such that victims of these con artists are more likely to remain trapped within the web of deceit, as well as being more convinced that their favorite con artist is legit.
Whenever you wish to know whether someone can be trusted, always remember this golden rule..."a man is judged by the company he keeps." This is a very important rule to remember because con men almost always belong to the same network. You will see the same con artists interviewing each other,referencing each other, (e.g. a hat tip) on the same blog rolls, attending the same conferences, mentioning their con artist peers, and so forth.
Rule #3: There's NO Free Lunch.
Whenever something is marketed as being "free" you can bet the item or service is either useless or else the ultimate price you'll pay will be much greater than if you had paid money for it in the beginning.
You should always seek to establish a monetary relationship with all vendors because this establishes a financial link between you the customer and the vendor. Therefore, the vendor will tend to serve and protect your best interests because you pay his bills.
Those who use the goods and services from vendors who offer their products for free will treated not as customers, but as products, because these vendors will exploit users who are obtaining their products for free in order to generate income.
Use of free emails, free social media, free content is all complete garbage designed to obtain your data and sell it to digital marketing firms.
From there you will be brainwashed with cleverly designed ads. You will be monitored and your identity wil eventually be stolen.
Fraudsters often pitch the "free" line in order to lure greedy people who think they can get something for free.
Perhaps now you understand why the system of globalized trade was named "free trade."
As you might appreciate, free trade has been a complete disaster and scam designed to enrich the wealthy at the expense of the poor.
There are too many examples of goods and services positioned as being free, when in reality, the customers get screwed.
Rule #4: Beware of Manipulation Using Word Games.
When manipulators want to get the masses to side with their propaganda and ditch more legitimate alternatives they often select psychologically relevant labels to indicate positive or negative impressions.
For instance, the financial parasites running America's medical-industrial complex have designated the term "socialized medicine" to replace the original, more accurate term, "universal healthcare." This play on words has been done to sway the masses from so much as even investigating universal healthcare, because the criminals want to keep defrauding people with their so-called "market-based" healthcare scam, which has accounted for the number one cause of personal bankruptcies in the USA for many years.
When Wall Street wanted to convince the American people to go along with NAFTA, they used the term "free trade" to describe the current system of trade which has devastated the U.S. labor force.
In reality, free trade is unfair trade and only benefits the wealthy and large corporations.
There are many examples on this play on words such as the "sharing economy" and so on.
Rule #5: Whenever Someone Promotes Something that Offers to Empower You, It's Usually a Scam.
This applies to the life coaches, self-help nonsense, libertarian pitches, FIRE movement, and so on.
If it sounds too good to be true, it usually is.
Unlike what the corporate fascists claim, we DO need government.
And no, you can NOT become financially independent and retire early unless you sell this con game to suckers.
Rule #6: "Never argue with stupid people. They will drag you down to their level and then beat you with experience." –Mark Twain
Following this rule is forcing the small and dewindling group of intelligent people left in the world to cease interacting with people.
You might need to get accustomed to being alone if you're intelligent and would rather not waste your time arguing with someone who is so ignorant, that they have no chance to realize what's really going in this world.
It would seem that Dunning-Kruger has engulfed much of the population, especially in the West.
After having monitored and documented Peter Schiff's media appearances for more than fifteen years, I have accumulated extensive evidence pointing to Schiff as a broken clock and fear-mongering huckster who scares people into making terrible investment decisions using an arsenal of ridiculous rhetoric and bad investment advice.
But of course, Schiff would not be able to reach millions of people if it weren't for the financial media which provides him with unfettered access to main street. This points to another critical issue which I have addressed for many years.
I have devoted a remarkable about of time, effort and energy towards exposing Schiff's disinformation and fear-mongering tactics in order to provide a public service to main street investors.
I felt it was necessary to clarify the realities about Schiff and his track record because he is plastered all over the financial media as an 'expert" for which investors should listen to and can trust.
But this perception is out of touch with reality. And it has caused many investors to suffer huge losses.
In my opinion, no investor should ever listen to anything Schiff has to say unless their intention is to use what he says as a contrarian indicator.
Futhermore, I certainly would not trust Schiff's motives nor his judgment. But that's just my opinion. You can decide for yourself whether or not to listen to what he says and whether to trust his motives and judgment.
Before making your decision, I urge you to check the hundreds of articles and videos I have published on Schiff over the years.
Once you become familiar with his track record I am confident you will conclude that one of the worst moves you can make is to send Schiff's firm money to invest.
This is a client statement from Peter Schiff's investment company, Euro Pacific Capital from the end of 2008. Based on this statement, you can see that this customer lost much more than the S&P 500 Index over the period he/she had invested with Schiff's investment firm.
For those who aren't familiar with Schiff's M.O., I'll break it down for you.
Schiff creates fear-mongering narratives which lead (naive and unsophisticated) investors to believe they can make a great deal of money buying gold, risky small cap mining stocks listed in foreign markets, exchanging U.S. dollars for euros, exchanging U.S. dollars for gold, buying and holding individual stocks from developing nations such as China and Brazil, and other risky investment moves for which his firm stands to benefit by charging high commissions and fees.
Even worse than the high fees charged by Schiff and his firm is the performance of his investment recommendations.
The following images were taken from a video Schiff made in 2012. The images highlight Schiff's fear-mongering and broken clock narratives designed to scare people into his grasp.
And remember that the financial media is a prime player in this deceit because it gives Schiff air time which enables him to spread this nonsense to millions of people.
To give you an idea of the extent of Schiff's fear-mongering nonsense, for many years after the 2008 financial crisis he was claiming the U.S. would enter hyperinflation.
As part of this fear-mongering pitch, Schiff also claimed that the U.S. dollar would become worthless, and the stock market would collapse.
And he made these claims year after year, as inflation remained tame, the and U.S. dollar continued to soar along with the U.S. stock market.
So what was Schiff "solution" to investors? Buy gold (from him of course) in order to protect you from the hyperinflation he was so certain would occur.
Schiff even pitched the "Valcambi gold bar" back in 2013 as a way to "protect the value of the dollar" during a very dark period of hyperinflation.
But of course hyperinflation never materialized.
At the time schiff began marketing the Valcambi bar, gold was selling for just under $1,700/ounce. All you had to do to "protect the value of your currency" was send Schiff $1,700 for every Valcambi bar you wanted, along with a ridiculously high 8% fee.
Within months after Schiff began pitching the Valcambi bar, gold plummetted by some 30% and remained at those price levels for several years.
So instead of protecting the value of your dollars, the value actually collapsed if you bought the Valcambi gold bar.
But that was okay for Schiff because he got paid his massive 8% commissions.
Buying gold is Schiff's solution to everything because he's a gold salesman.
Get that? Schiff is a salesman. He's a stock broker.
He's NOT an economist and he's NOT an analyst.
And he's NOT a fund manager.
Anyone who claims otherwise is simply lying or completely ignorant.
If you take the time to document the predictions and recommendations made by Schiff during the time he has been featured in the financial media (close to twenty years) you will see that for the majority of his predictions the opposite happened. The U.S. dollar soared, gold pricing collapsed for most of the time he has been pumping it, and the U.S. stock market enjoyed its longest bull run in history (see the videos at the bottom of this article).
That makes Peter Schiff the perfect contrarian indicator.
Indeed, Schiff has always been and will always be wrong.
Why, you ask?
Because con artists don't care about reality.
And they don't need to so long as they have a sufficiently pool of idiots who fall for their nonsense.
As early as 2009 I was exposing Schiff's ridiculous nonsense and began explaining why it's impossible for the U.S. to experience hyperinflation.
By now it should be clear that anyone who takes Schiff seriously has never checked his track record, or else is extremely stupid.
Meanwhile, anyone who promotes Schiff as an expert or even as a legitimate financial professional is clearly either very stupid or else a paid shill.
After facing a potential avalanche of lawsuits from customers of Euro Pacific Capital who lost large amounts of money as a result of listening to his terrible advice, by 2013 Peter Schiff switched his company's business from separately managed accounts to mutual funds (in my opinion) in order to shield him and his company from potential litigation.
After all, it's extremely difficult to successfully sue mutual funds for damages if you lose money.
Unfortunately for Schiff, ever since he made that shift everyone can now see how bad his performance has been.
Simply check the ticker symbol of his funds and you can see for yourself how his funds have performed versus the S&P 500 Index since inception.
Note: the following charts were created a few years ago but you can update them and see for yourself how bad the performance is.
For more than a decade I've published hundreds of articles and videos documenting Schiff's terrrible track record from his media appearances and interviews. Based on this content, it should be apparent that Schiff is a broken clock carnival barker and financial predator, whose main objective is to extract as much money from people as possible by scaring them into thinking they will lose everything if they remain in the U.S. dollar and U.S. stock market.
I find it remarkable that Schiff's numerous exaggerations, false statements, ridiculous conspiracies, and deceptive marketing practices have not resulted in him being barred by FINRA and the SEC from the securities industry.
But then again, we all know who the securities regulators are. They are the same parasites who allowed Bernie Madoff to run a Ponzi scheme for decades, even after individuals tipped regulators off for many years. There are countless whereby crooks got away with fraud for years and even decades because they belong to the same tribe.
Even today there are crooks on Wall Street who are getting away with unbelievable fraud. As one example, consider payment for order flow. I've discussed this many times in the past.
Needless to say, anyone who has examined Schiff's track record should be able to easily conclude that he should never be relied upon for investment advice.
The problem is that most people don't check track records because they are too lazy, too stupid, or too confident.
Too Lazy. Most people don't take the time to examine track records of the people they listen to because they're simply too lazy.
Too Stupid. Some people take the time to check track records. Their problem is that they're incompetant and/or lacking sufficient knowledge and/or intelligence required to accurately decipher track records. These individuals often suffer from confirmation bias which further clouds their judgment and alters their perception of reality.
Too Confident. Many people don't bother to check track records of the "experts" aired in the media because they assume these "experts" must be legit since they're plastered all over the media every day. This assumption couldn't be further from the truth, as I have shown for well over a decade with hundreds of videos and articles.
Alternatively, others have been afflicted with Dunning-Kruger. They're very confident that they understand things for which they are actually clueless about.
In the first video (below) we learn that Schiff doesn't seem to understand why Silicon Valley Bank failed, nor does he understand the current situation with banks.
Schiff also claims that the current banking crisis is going to be much worse than the 2008 financial crisis, as if he understands the true cause(s).
As one example of Schiff's poor understanding of the 2008 financial crisis, he claims the Federal Reserve caused the crisis instead of Wall Street. This is absolutely false.
Schiff won't tell you what most people already know; that Wall Street caused the 2008 financial crisis, because Schiff is part of the investment cabal, so he wants to protect his tribe.
Peter Schiff didn't predict the 2008 financial crisis. And his clients certainly didn't profit from it.
Even his book Crash Proof (released in 2007) didn't show investors how to profit from the financial crisis.
The book failed to explain with any detail how a financial crisis might happen. The book was wrong on nearly all fronts.
Take a look at the account statement from a client of Schiff's firm. The statement shows the results after the financial crisis.
This is a client statement from Peter Schiff's investment company, Euro Pacific Capital from the end of 2008. Based on this statement, you can see that this customer lost much more than the S&P 500 Index over the period he/she had invested with Schiff's investment firm.
Similar to his other books and those (ghost) written by other broken clock charlatans, Crash Proof is a marketing tool designed as an investment book which was used to lure suckers to buy gold from him as well as to send him money to invest in high-commission and often risky foreign stocks.
In contrast to Schiff's failure to predict the 2008 financial crisis and position readers of his marketing book Crash Proof to profit from it, I predicted the crisis with remarkable detail in my landmark book, America's Financial Apocalypse published in late-2006. See here and here.
And my predictions and recommendations enabled investors to make huge returns.
The release of America's Financial Apocalypse led to me being black-balled by the entire media industry because the inner circle of crooks don't want working-class Americans and main street investors to know the truth.
The media works to deceive the public while helping corporate America and Wall Street profit at the expense of main street. Washington politicians pull the same stunt.
I also released another book in early-2007 called Cashing in on the real Estate Bubble. This book was focused on showing investors several ways to make large amounts of money from the bursting of the real estate bubble, with a focus on shorting stocks.
To my knowledge, there have been no books before or since then that have offered such detailed and accurate analyses on the financial crisis, while providing numerous ways to make huge profits.
Therefore, if there is a person best positioned to understand the current banking crisis, it's the person who best and most accurately predicted the 2008 financial crisis. That person is me. See here and here.
You should note that unlike every so-called "expert" featured in the financial media, I have no agendas. I'm not selling gold, silver, stocks, bonds, or real estate.
And I'm not trying to get you to invest with a brokerage firm or an investment fund.
I don't even sell advertisements because ad-based content can never be trusted because it is designed to benefit the advertisers at the expense of the audience.
Therefore, I have no misaligned interests.
Right now, although the "experts" in the media claim to know what's going on and how bad things will get, the reality is that no one knows how bad the current banking crisis will get because it depends on several variables.
But will tell you this. Even assuming the worst possible scenario plays out, unlike what Schiff claims, the current banking crisis will pale in comparison to the 2008 financial crisis.
If you don't understand why this is the case, then you've been listening to fear-mongering clowns who have mischaracterized the current banking crisis and/or who truly don't understand the 2008 financial crisis and the impact it had on the global economy.
In the video below Schiff goes on to claim that the Fed's backstop for banks (i.e. releasing cash and cash equivalents which adds debt to its balance sheet) is going to cause high inflation.
This is complete nonsense. As you will recall, Schiff claimed for more than a decade that the Fed was going to cause hyperinflation.
The money released by the Fed is earmarked for the banks and will not reach the hands of consumers. This is similar to the situation we saw with quantitative easing (QE) and explains why it never caused the runaway inflation predicted by so many.
While inflation might possibly head higher, it most likely won't be because of the Fed. And the chance of higher inflation most certainly won't be due to the Fed's recent actions to guarantee bank deposits, unlike what Schiff has claimed.
Instead of stating the reality, Schiff uses the opportunity of a crisis in order to twist and spin reality into fear mongering hyperbole.
Schiff tries to convince people to pull their money from banks and to use that money to buy gold. He claims that money you have in banks is going to be "inflated" away since (as he claims) the Fed is going to worsen inflation by helping the banks. Therefore, he recommends to remove your money from the banks and buy gold because it's a "store of value" (according to Schiff).
The last time I checked, many banks were paying high interest rates on deposits which is what you would expect during high inflation. Those high rates serve to partially offset the impact of high inflation.
And if you want higher rates of return you can buy CDs or FDIC-insured short-term money market funds. You can also invest your money in funds that own short-term U.S. government fixed income securities.
Taking your money out of the bank in order to buy gold is a very foolish idea that will most likely cause you to lose money in the long run. But it will generate commissions for Schiff and other gold dealers. And that's Schiff's real objective.
The fact is that physical gold is not a real investment.
It does not produce cash flows and does not pay dividends.
It's just a shiny rock that sits there.
Gold is not money.
Gold is not insurance.
Gold is not a "store of value."
Cryptocurrency con artists also claim that bitcoin is a "store of value."
Crypto con man Peter Thiel was rambling to the world how "bitcoin is a store of value similar to gold" at a crypto conference in Miami held in April 2022. At the time, bitcoin was selling for around $45,000.
During the same conference Thiel claimed bitcoin would rise by 100-fold. What he failed to disclose to the audience was that he had already sold his fund's entire stake in bitcoin worth $1.8 billion a few weeks earlier.
Gold pricing usually soars during situations such as what we are seeing now. But after the storm fades, gold sells off. Therefore, gold is really only good as a trading vehicle because it exhibits periods of high price volatility.
If you want to take advantage of gold's price volatility, you can trade it. But you can only trade gold using futures contracts and gold ETFs.
Trading gold futures contracts is quite risky, can be very costly, and can be very nerve-racking.
Trading gold ETFs is much easier and less costly.
Physical gold is a really terrible vehicle for trading because it's not so liquid. And the commissions to buy and sell it are extremely high.
Note that liquidity not only refers to the ability to convert something into cash in a short time frame, but the conversion must not incur a loss based on the current market price.
Try selling your physical gold on a moment's notice and see what price dealers offer you. You're going to get screwed. I know this for a fact because I've tried it.
Schiff never bothers to mention these important points about gold because he can't make commissions if you trade gold ETFs.
He can only make commissions if you buy physical gold from him.
What Schiff refuses to tell his sheep is that the best and most certain way to make money with gold is to be a gold dealer. That's why he's a dealer.
Schiff will never mention these facts because he's in the business of deceiving people for profit. And apparently, he has been engaging in this type of business since his early days in the securities industry.
Ask yourself why the financial media has never bothered to disclose the fact that Schiff was suspended by securities regulators for allegations that he violated compliance rules (cheat, fraud, deceive customers, used deceptive promotional materials, used deceptive and misleading sales solicitations).
If someone goes on national TV and tells the audience that their money is not safe in banks and recommends they remove it in order to buy gold, and if this same person also happens to be a precious metals dealer, I believe it demonstrates the intent to cause the banks to fail by creating fear and panic which could lead to a run on the banks.
As it stands currently there is no reason for people to move their money out of the banking system so long as your account is FDIC-insured and has no more than $250,000.
And now that Biden has guaranteed that all depositors will be made whole if a bank fails, it basically removes the FDIC's $250,000 guarantee limit. But until you see something in writing from Washington, you should not have more than $250,000 at any one bank.
Other than Silvergate and Signature, which dealt with cryptocurrencies, most regional banks are only vulnerable to collapse due to dwindling confidence from depositors.
Unlike the situation seen during the 2008 financial crisis, the nation's largest banks are not overleveraged with toxic assets poised to collapse.
Right now, the banking system is merely facing a crisis in depositor confidence due to predators like Schiff who dissiminate false and misleading information in order to exploit the situation so as to extract money from people.
Therefore, in my opinion Peter Schiff is trying to cause bank runs in order to make money by scaring people to buy gold from him. Accordingly, I view Peter Schiff as a domestic terrorist because he is intentionally trying to harm the United States and its banking system by constantly releasing false statements in order to profit.
Before you watch the videos (below) I want to show you a few more images that point to Schiff's track record in order to put everything he says into proper perspective.
I've included additional videos illustrating Schiff's horrendous track record at the end of this article.
Anyone with at least a decent memory knows how Schiff's previous recommendations have turned out. They haven't been too good to say the least.
Peter Schiff has never been right about much of anything.
And I don't expect that trend to ever change because he's not looking at reality.
He's looking for ways to grow his bank account anyway he can.
In this video Schiff claims the Fed won't ever raise interests again!
In this video Schiff claims the Fed won't ever raise interests again, ever!
More on Schiff's miserable track record in the videos below
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The following video was first created in approximately late 2014. ...
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The following audio commentary was originally created in 2016. The charts below were provided to accompany the presentation. ...
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Another educational video.
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Hell, someone had to do it.
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