Wednesday, November 12, 2008

Peter Schiff was right on!

Watching this video reminds me of the story of Noah in the Old Testimony. Noah kept trying warn people of the upcoming judgement, but everyone kept laughing at him and saying he was out of his mind.

As you can see, these "so-called" economic experts were making fun of Peter, but if you took all of their "advice" would be broke! Hmmm....

If you dont know who Peter Schiff is...he is Ron Paul's economic advisor, and the both of them are students of the Austrian Free Market system, which has predicted these events and events in the past...including the Great Depression. His website is here.

Here is a quick rundown on the predictions of the people mocking Schiff in the video to save anyone else that might look up the current prices some time.

1. DOW to 16,000 within a year, almost a year later it’s currently 8,358.64.

2. Merril Lynch - 76.04 at the time. Currently worth around $14 a share. Good call Ben Stein!

3. Goldman Sachs – 175 at the time. Currently worth around $68 a share. Another huge loser.

4. Buy Washington Mutual at $13.07 As of last close on Nov 12 2008, Washington Mutual Inc closed at 0.063