Inflationary Depression or Recession. How to Protect Yourself. Peter Schiff: Just Stop Paying Your Mortgage
A prudent man seeth the evil, and hideth himself; But the simple pass on, and suffer for it. Proverbs 22:3 My people are destroyed for lack of knowledge. Hosea 4:1-6 I had to come out of retirement, to post some videos. If you are Peter Schiff fan, I think you will like these guys. These were posted on June 24, 2008; I wish I had seen these earlier. There are more videos on youtube.com. We are in a critical phase in US financial history. I think it is imperative that people make decisions that will protect their future. If I was to give a presentation it would sound like these guys: Wall Street's Schemes Part I: Mcalvany 2008 The US Housing Decline Part I: Mcalvany 2008 (5:56) "the government is flat out lying" "the real estate collapse is taking the US into a Japanesse style recession" The US Housing Decline Part II: Mcalvany 2008 "a severely declining US dollar will put pressure on long term interest rate" in a Japanesse recession "people do not borrow and banks do not lend" "the Bush freeze is patently illegal...foreign confidence will plunge" "foreign banks will flee the US, while unleashing a firestorm of lawsuits" An Inflationary Recession Part I: Mcalvany 2008 "we can expect more bank failures" "we can expect an Inflationary Depression" "the FED will step aside to safety" "we are witnessing the destruction of the modern banking system" Bill Gross An Inflationary Recession Part II: Mcalvany 2008 "FED has to inflate or die" "unemployment is 10-12%" US Dollar Cave-In Part I: Mcalvany 2008 "the system is out of control, Wallstreet is out of control" "five major factors impacting Gold" "the long term dollar decline began with the birth of the FED" US Dollar Cave-In Part II: Mcalvany 2008 "oil is heading to $150 to 200 a barrel" China - The Power Shift Part I: Mcalvany 2008 " Tata motors has a new car for $2500" "China and India are encouraging people to buy gold" China - The Power Shift Part II: Mcalvany 2008 "will create a gold buying frenzy" " gold in in a bull maket in Euros, Swiss Francs etc...."
Principles to Consider Part II: Mcalvany 2008 Financial Roadmap Part I: Mcalvany 2008 "we like gold better then silver" "you should own 30% of your portfolio in precious medals" "avoid South Africa gold shares" "take delivery of gold stocks...paper stocks is not gold"
15% to 20% in energy" "I would have 25% of assets out of the US...Switzerland makes sense" "the dollar will be replaced by the Amero" "exchange controls which would block people from getting assets out of the US" Financial Roadmap Part 2: Mcalvany 2008 Peter Schiff: Just Stop Paying Your Mortgage If you are a mortgage holder who is either struggling with crushing payments, bitter for having overpaid for your home during the bubble, or who has extravagantly refinanced when prices were rising, the government's landmark $700 billion bailout package has an important message for you: stop making your mortgage payments . . . immediately.
Furthermore, if you believe that with some planning and sacrifice you may be able to meet your mortgage obligations, the government's message is clear: relax, don't bother.