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Roccland
Peak Oil Prophet
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eastbay
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Joined: Dec 18, 2004
Posts: 4870
Location: One Mile From the Columbia River
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 Posted: Thu Oct 02, 2008 9:19 pm Post subject: Re: Peter Schiff 10-1-08 |
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Thanks rocc... Schiff is my favorite, along with Simmons.
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hope_full
Heavy Crude
Joined: May 27, 2008
Posts: 255
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| Posted: Fri Oct 03, 2008 5:00 am Post subject: Re: Peter Schiff 10-1-08 |
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link Someone else linked the above on another post (which I can't find), but in this interview (with Glenn Beck) Peter Schiff says we're the next Argentina or Zimbabwe. (6:45 on the youtube video)
| Quote: | | "This is all going to mean a reduction in our standard of living. Americans are going to have to get used to a lower standard of living. We're not going to be as lucky as Japan (in the 1980s during their recession), we're going to be Argentina, we're going to be Zimbabwe." |
Do you think the average American understands the implications of that statement? |
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MD
Community Manager
Joined: May 02, 2005
Posts: 3524
Location: Oh really?
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| Posted: Fri Oct 03, 2008 5:51 am Post subject: Re: Peter Schiff 10-1-08 |
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| hope_full wrote: |
Do you think the average American understands the implications of that statement? |
Not even close.
What we are currently experiencing is the methodology by which the rug is being yanked out from under Americans. It's all about oil, how much we use, and how it's going to be taken away from us.
You are watching it happen. This "rescue plan" is it. No new 911, no new false flag. No physical attack.
Here is is.
Watch.
Well RoccMAN? Are you ready to receive your PO prophet tag? A couple more weeks and it's yours.
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Schultz: I see NOTHING! I know NOTHING!
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Cashmere
Light Sweet Crude
Joined: Mar 27, 2008
Posts: 1971
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| Posted: Fri Oct 03, 2008 7:09 am Post subject: Re: Peter Schiff 10-1-08 |
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Part Two
Part Three
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Massive Human Dieoff must occur as a result of Peak Oil. Many more than half will die. It will occur everywhere, including where you live. If you fail to recognize this, then your odds of living move toward the "going to die" group.
Last edited by Cashmere on Fri Oct 03, 2008 7:20 am; edited 1 time in total |
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Cashmere
Light Sweet Crude
Joined: Mar 27, 2008
Posts: 1971
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| Posted: Fri Oct 03, 2008 7:17 am Post subject: Re: Peter Schiff 10-1-08 |
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| MD wrote: | | Well RoccMAN? Are you ready to receive your PO prophet tag? A couple more weeks and it's yours. |
You'll have to go find him in his bunker to give it to him - last week he was assuring everybody that ATMs wouldn't be working by Monday, 4 days ago.
Whoops.
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Massive Human Dieoff must occur as a result of Peak Oil. Many more than half will die. It will occur everywhere, including where you live. If you fail to recognize this, then your odds of living move toward the "going to die" group. |
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MD
Community Manager
Joined: May 02, 2005
Posts: 3524
Location: Oh really?
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| Posted: Fri Oct 03, 2008 7:55 am Post subject: Re: Peter Schiff 10-1-08 |
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| Cashmere wrote: | | MD wrote: | | Well RoccMAN? Are you ready to receive your PO prophet tag? A couple more weeks and it's yours. |
You'll have to go find him in his bunker to give it to him - last week he was assuring everybody that ATMs wouldn't be working by Monday, 4 days ago.
Whoops. |
Yeah he's a little jumpy.
So am I.
Aren't you?
If not? Hand over your meds . . . you need to cut back.
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"It's still all about energy!"
Schultz: I see NOTHING! I know NOTHING!
md@peakoil.com |
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BigTex
Moderator
Joined: Aug 03, 2006
Posts: 4330
Location: Graceland
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| Posted: Fri Oct 03, 2008 8:49 am Post subject: Re: Peter Schiff 10-1-08 |
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I think saying we are the next Argentina or Zimbabwe is overstating things a bit.
This is not good, to be sure, but note that the dollar has basically been in a strong rally for the last couple of months through this entire mess.
Just because something SHOULD happen doesn't mean that it WILL happen.
No rising wages = no hyperinflation.
30 year treasury bond at 4% = not much conviction about future inflation.
Gold below 100 and 200 DMA for two months = easing inflation concerns.
Treasury bills being piled into by everyone in the world = basic faith in the dollar.
There is a brick wall on the horizon, but the distance is hard to measure. IMHO, it's not as close as people think.
In an overleveraged consumption based economy where everyone is up to their eyeballs in debt, hyperinflation would be like a dream come true.
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mattduke
Light Sweet Crude
Joined: Oct 28, 2005
Posts: 1511
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| Posted: Fri Oct 03, 2008 8:56 am Post subject: Re: Peter Schiff 10-1-08 |
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| BigTex, every market you just mentioned suffers heavy government intervention designed to give you exactly those conclusions. |
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BigTex
Moderator
Joined: Aug 03, 2006
Posts: 4330
Location: Graceland
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| Posted: Fri Oct 03, 2008 9:13 am Post subject: Re: Peter Schiff 10-1-08 |
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| mattduke wrote: | | BigTex, every market you just mentioned suffers heavy government intervention designed to give you exactly those conclusions. |
On what would you base a conclusion that hyperinflation is on the way?
I can't spend more money than I earn or can borrow. If my wages are static and my credit lines are drying up, how can hyperinflation occur?
Where does the money come from to pay the higher prices?
Some prices will go up, but others will go down. That's not hyperinflation, though.
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mattduke
Light Sweet Crude
Joined: Oct 28, 2005
Posts: 1511
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| Posted: Fri Oct 03, 2008 9:21 am Post subject: Re: Peter Schiff 10-1-08 |
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| BigTex wrote: | | mattduke wrote: | | BigTex, every market you just mentioned suffers heavy government intervention designed to give you exactly those conclusions. |
On what would you base a conclusion that hyperinflation is on the way? I can't spend more money than I earn or can borrow. If my wages are static and my credit lines are drying up, how can hyperinflation occur? Where does the money come from to pay the higher prices? Some prices will go up, but others will go down. That's not hyperinflation, though. |
It will begin when foreigners dump.
During hyperinflations, counterintuitively, society experiences what seems to be a "shortage of cash". This is because prices race ahead of where they otherwise might be set given the current supply of money, on speculation of further future inflation. Zimbabwe recently announced huge additional cash infusions to deal with the "shortage of money". |
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DantesPeak
Expert
Joined: Oct 23, 2004
Posts: 5928
Location: New Jersey
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| Posted: Fri Oct 03, 2008 9:30 am Post subject: Re: Peter Schiff 10-1-08 |
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See this post about our US experience in the 1930s when commodity prices rose 75% while wages were falling:
http://www.peakoil.com/post783384.html#783384
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BigTex
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Joined: Aug 03, 2006
Posts: 4330
Location: Graceland
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| Posted: Fri Oct 03, 2008 9:53 am Post subject: Re: Peter Schiff 10-1-08 |
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| mattduke wrote: | | It will begin when foreigners dump. |
I am in 100% agreement with you here.
However, I believe that foreigners will not dump, for the same reasons that the Soviet Union never launched a first strike.
But I may be wrong.
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Zardoz
Expert
Joined: Dec 02, 2005
Posts: 6662
Location: Oil-addicted Southern Californucopia
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| Posted: Fri Oct 03, 2008 11:08 am Post subject: Re: Peter Schiff 10-1-08 |
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USA = Zimbabwe
Hello?
Certainly I can't be the only one who sees the utter absurdity of such a concept.
I hope not, anyway...
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"Thank you for attending the oil age. We're going to scrape what we can out of these tar pits in Alberta and then shut down the machines and turn out the lights. Goodnight." - seldom_seen |
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dinopello
Fusion
Joined: May 13, 2005
Posts: 3024
Location: The Urban Village
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| Posted: Fri Oct 03, 2008 11:14 am Post subject: Re: Peter Schiff 10-1-08 |
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| Zardoz wrote: | USA = Zimbabwe. Hello?
Certainly I can't be the only one who sees the utter absurdity of such a concept. I hope not, anyway... |
The average life expectancy for men and women in Zimbabwe is 37 and 34 respectively. How many of us would be gone if that occured here ? |
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