02-16-2009, 04:40 PM
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Too lazy to set a custom title
Join Date: Dec 2006
Posts: 23,400
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Quote:
Originally Posted by Quotealex
what was his other 3 predictions?
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Schiff's prediction that the US Dollar would collapse along with the housing bubble has so far not come to pass, with the US Dollar Index rising from 80 points in July 2007 to 83 points in January 2009, a climb which actually accelerated as the US financial crisis became more acute in September 2008.
Similarlly, Schiff's prediction that the US financial crisis would cause a greater fall in US equity prices than in non-US equity prices has so far been inaccurate as in 2007-2008 most international equity markets fell further than the US markets. Using the broadest available measures, the MSCI US Broad Market Index was down 34.83% in 2008, while the MSCI All Country Ex-US Index was down 42.86%. [16].
Gold and precious metals during this period have performed significantly better than equity prices, with gold losing only 3.77% and silver 5.38% of their USD values in 2008. Yet with gold under $1,000 per oz, and silver under $20 per oz, precious metal prices have not seen the dramatic run up Schiff has been predicting.
http://en.wikipedia.org/wiki/Peter_Schiff
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i like waffles
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