Peter Schiff is head of Euro Pacific Capital, and predicted the economic meltdown in many arenas back in 2006/2007. Among his predictions were the collapse of the housing market and the drying up of global credit. Check out the video, its amazing to see so called seasoned financial professionals literally laughing in his face!
Other predictions in the video from so called financial experts were Merryl Lynch being "given away" at 7 times earnings, Goldman Sachs at 175 dollars being equivalent to a sale at Dolce and Gabbana (They're in the 70's now) and probably the most ironic - recommending Bear Stearns for being such a brilliantly run company.
Nobody listened to Peter Schiff. Of course the nature of predictions are that you will get some right and some wrong. But how did the world get this one SO wrong? I know they say hindsight is 20/20, but everything he said made perfect sense - nobody wanted to listen.
So what else has Peter Schiff predicted? His latest prediction is 4 years of hell under Barack Obama and his big Government agenda, and his hopes that we will have a huge ideological shift back to small Government after this first term. Video below -
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