Stefan, please stay away from that charlatan @peterschiff. His father was a crook and died in prison. Like father, like son.
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Irwin Schiff was in prison for not paying taxes and more for promoting and explaining others to do the same. An honorable move that only a man with balls can do.
Would you agree that taxation is theft? -
Schiff knows a lot about theft. His firm charges up to 5% for stock trades. Like father like son!
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Knows a lot about theft because his company charges 5%
You are joking dude, right? -
No I'm not. His Europacific brokerage firm has been ripping off people for a decade. He bankrupted a lot of people in 2008/2009 with his horrific calls. He is a charlatan.
End of conversation
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Compare what the US government owes in debt (20T) to what the rest of the world owes (almost 200T dollar denominated debt). As interest rates rise, it will feed a positive loop of higher usdollar value against these currencies and break the monetary system. 3/3
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I respectively disagree with some of Peter's viewpoint. While he is correct in calling a future financial crisis, it will not be due to a dollar collapse but rather the opposite, the us dollar becoming too strong. As the federal reserve raises rate, emerging market debt will 1/3
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become unsustainable sending money rushing back towards the central currency issuer, the federal reserve. Gold will go below 1000$ per oz to as much as 850$, and then rise as people completely lose confidence in government. 2/3
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Yeah, yawn, it'll be Trump's fault
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