With the US dollar in a strong uptrend, Peter Schiff is once again hitting the airwaves in an attempt to talk down the dollar.
What you are about to see will shock you and probably disgust you.
The financial media can not be trusted. It’s all an industry just trying to make money like any ordinary Joe.
The problem is, they use marketing slogans like “News You Can Trust” which is misleading at best, false advertising and criminal at worst.
Peter Schiff has been nothing but wrong about the US dollar for at least the last 4 years, probably longer. You are about to see a clip from Peter Schiff back in April of 2008 when the US dollar was trading at around 71. Peter Schiff said that the US dollar was going to be worthless and in a “best case scenario”, it was going to drop to 50. It never happened. In fact, it’s always stayed around 70 on pullbacks.
Now everybody is wrong from time to time. That’s just part of stock trading. What makes this mistake by Peter so bad is that he is now paying to go on a Yahoo Finance program called Breakout where the talking head interviewing him says, “You’ve been bearish on the dollar a long time and you’ve been right. Where should we put our money if not in the dollar?” This is misleading the viewing public into thinking that Peter has been right about the US dollar so you should keep doing what this guy says because, after all, he has a track record of being right about the dollar.
In the video below, you will see proof beyond any reasonable doubt that Peter Schiff has been wrong about the US dollar.
What’s really going on folks is that Peter Schiff is feeling the squeeze of an uptrending US dollar.
As Peter Schiff digs in his heals and refuses to own up to his past mistakes about the dollar, his credibility as an analyst is falling off a cliff. We could be witnessing the last days of Peter Schiff. Popular stock guys come along every decade or so. They have a shelf-life of anywhere between 6 to 15 years. Ultimately they are discredited in the public’s eyes from really bad mistakes that are the result of digging their heals in rather than reversing their position when the market dictates.