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Peter Schiff Predicted the Economic Collapse

By: Steve Johnson

7/25/2008 - 57 Comments

In November of 2006 Peter Schiff tells over 1000 mortgage brokers they are about to be out of jobs.

Watch how he completely nails the coming real estate/mortgage debacle before anyone else even realized it was coming.  In these videos, Peter predicted the housing market collapse, the credit crisis, inflation, higher unemployment, the weakening of the dollar, the bankruptcy of many of the mortgage lenders including Freddie Mac and Fanny Mae.  The government will be forces to either raise interest rates or bailout lenders and home owners and destroy the value of the dollar.

Peter suggests waiting to any buy real estate for several years after prices have drastically dropped, which could be up to 50-70%. Today, prices are only down 20%.

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Peter Schiff went further in his predictions and wrote a book called, "Crash Proof, which put his predictions in writing.  I read "Crash Proof" in mid 2007 and didn't believe half of what he predicted, but today most of Peters predictions have come true and I have a lot more faith in the few predictions that are yet to unfold. Peter Schiff is the president of an investment firm call Euro Pacific Capital and is one of the only investment firms that are expanding this year. 

This is what Peter Schiff said yesterday in his newsletter,

“Now, as the U.S. Congress formally passes the bailout package that socializes the losses of the housing bubble, it is worth a moment to think about the national blindness that easy money can cause. Take it from one of the few people to have accurately forecasted this disaster; this government cure is actually worse than the disease it created in the first place.”

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Crash Proof

Peter Schiff has predicted the economic hardship more accurately then any other economist in the world in this book. Everything from the housing crash to the credit crunch to the stock market. Peter has a plan to help you servive the crash. Peter explains why the Wall Street investment firms are still trying to sell you stocks, and was the house prices are likely to continue to decline for years to come.

Gold: The Once and Future Money

Governments and central bankers around the world today unanimously agree on the desirability of stable money, ever more so after some monetary disaster has reduced yet another economy to smoking ruins. Lewis shows how gold provides the stability needed to foster greater prosperity and productivity throughout the world. He offers an insightful look at money in all its forms, from the seventh century B.C. to the present day, explaining in straightforward layman’s terms the effects of inflation, deflation, and floating currencies along with their effect on prices, wages, taxes, and debt.

Empire of Debt

Many Americans have resisted the notion that their country is an imperial power. The idea seems to contradict the values of the Republic and its Founding Fathers. But in Empire of Debt, prominent financial analysts Bill Bonner and Addison Wiggin argue passionately that not only is the United States an empire, but it is also one whose end is coming soon.

The Coming Economic Earth Quake

Larry Burkett explains how the financial troubles in America started back in the 1930s. Larry explains the economics of huge goverment and public deficits and how it leads to hyper-inflation. We may be headed for another great depression.