Schiff is one of those low IQ idiots who think their love of a yellow metal is universal. I have no love of gold and no need for it either.
He was, however, absolutely right about the meltdown.
He wasn't alone, of course, but his predictions about how the RE bubble would play out in the rest of the economy were ALSO spot on.
I saw the RE bubble, spoke of how the price of RE was climbing faster than incomes, (including on this board, I think) and how that was unsustainable, too.
What I did not see, and could not have possibly known, was how that RE event would unravel the rest of the economy.
I just do not know enough about high financem derivatives, naked dereivatives and such to have understood that.
A deficiency I am inclined to overcome if that's possible.
And I say,
if that's possible, because the bastards aren't just hiding the truth of the system, anymore, they're flat out lying to us about it their books, too.
One cannot possibly know that
UNLESS you're an insider, or you truly understand the system of finance well enough to understand that something doesn't ring true.
As to Greenspan?
The moment he went before Congress and said the reason he didn't see all this coming was because " I trusted the banks" I KNEW for a fact the guy was a liar.
