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How To Silence A Nobel Prize Winning Economist

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Ask him about the economy.

Well, ask two actually, but get the same result.

This has to go viral

Bottom line is that Schiff is a real economists and the two cretins are really mathematicians: about as useful as a chocolate teapot

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Ask him about the economy.

Well, ask two actually, but get the same result.

They are economist, and economist are homo economicus - and homo economicus seek to maximise profits and don't give free advice.... :-p

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Ask him about the economy.

Well, ask two actually, but get the same result.

I like Peter Schiff but I'm pretty sure he is wrong on this one. That economist is the kind of guy I'd want advising TPTB.

Have you ever noticed in any field of knowledge it is people who know next to nothing about a subject who are full of certainties, soundbites and easy answers? Or ideologues with a political agenda?

With luck, the answer to the question that was asked will be available in 20 years and then it will come with lots of uncertainties and other questions attached.

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I like Peter Schiff but I'm pretty sure he is wrong on this one. That economist is the kind of guy I'd want advising TPTB.

Have you ever noticed in any field of knowledge it is people who know next to nothing about a subject who are full of certainties, soundbites and easy answers? Or ideologues with a political agenda?

With luck, the answer to the question that was asked will be available in 20 years and then it will come with lots of uncertainties and other questions attached.

I disagree. Treating economics like a science is the wrong approach, it is not science. There are some general principles though ought to be adhered to, but trying to gather infinite data is pointless, as every situation is different in some way or another. To suggest that only data gathering limits economic understanding is not correct in my view. There are too many degrees of freedom in a national economy to be able to make conclusions regarding subtleties. All you end up with is pointless arguments about stuff that doesn't matter much, while some gross mistakes happen regardless.

Any economist who instinctively fails to condemn money printing as a supposed route to prosperity is simply not worth listening to imo, it's so obviously the wrong thing to do. I think that applies regardless of whether you have a certificate from Norway.

edited to add a bit.

Edited by cheeznbreed

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I disagree. Treating economics like a science is the wrong approach, it is not science. There are some general principles though ought to be adhered to, but trying to gather infinite data is pointless, as every situation is different in some way or another. To suggest that only data gathering limits economic understanding is not correct in my view. There are too many degrees of freedom in a national economy to be able to make conclusions regarding subtleties. All you end up with is pointless arguments about stuff that doesn't matter much, while some gross mistakes happen regardless.

+1

That's why it's an abdication of political responsibility to pass major economic decision making over to technocrats.

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I disagree. Treating economics like a science is the wrong approach, it is not science. There are some general principles though ought to be adhered to, but trying to gather infinite data is pointless, as every situation is different in some way or another. To suggest that only data gathering limits economic understanding is not correct in my view. There are too many degrees of freedom in a national economy to be able to make conclusions regarding subtleties. All you end up with is pointless arguments about stuff that doesn't matter much, while some gross mistakes happen regardless.

Any economist who instinctively fails to condemn money printing as a supposed route to prosperity is simply not worth listening to imo, it's so obviously the wrong thing to do. I think that applies regardless of whether you have a certificate from Norway.

edited to add a bit.

:D

:rolleyes:

As an aside, I wrote 'field of knowledge' not science. The strongest certainties are usually found in those subjects that are more complicated (for good reason), whether they are scientific or not.

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They recognised they were being set up and sensibly refused to be drawn into either a headline grabbing endorsement or repudiation of the FED policy responses.

What's infinitely more worrysome is that anyone listens to Schiff a self-styled 'guru' and gold VI.

What's even MORE worrysome is that he's running for the Senate.

For some reason people 'value' vested interest exhaltation to buy gold 100% guaranteed with very little understanding of all the possible outcomes.

Clearly Schiff in his video is about as partial as it's possible to be, which ought to set massive alarm bells ringing, but oddly has the opposite effect on his disciples.

A fascinating study in social meme 'programming'. Shout something simple at people repeatedly and not only will they fall for it they'll even promote it on your behalf. Quite bizarre and dangerous.

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They recognised they were being set up and sensibly refused to be drawn into either a headline grabbing endorsement or repudiation of the FED policy responses.

What's infinitely more worrysome is that anyone listens to Schiff a self-styled 'guru' and gold VI.

What's even MORE worrysome is that he's running for the Senate.

For some reason people 'value' vested interest exhaltation to buy gold 100% guaranteed with very little understanding of all the possible outcomes.

Clearly Schiff in his video is about as partial as it's possible to be, which ought to set massive alarm bells ringing, but oddly has the opposite effect on his disciples.

A fascinating study in social meme 'programming'. Shout something simple at people repeatedly and not only will they fall for it they'll even promote it on your behalf. Quite bizarre and dangerous.

You could give the man the benefit of the doubt. You are making the assumption all he cares about is the price of gold. Even if he is painfully biased in that regard I think he goes a tad further than that.

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You could give the man the benefit of the doubt. You are making the assumption all he cares about is the price of gold. Even if he is painfully biased in that regard I think he goes a tad further than that.

No I'm sure he cares about his personal wealth too.

The point is that here he is making a populist tabloid style critique in the video based upon his personal bias.

Do I want to make decisions based on opinions handed out by people who think everything comes down to simple soundbytes that Peter Schiff and his disciples can understand?

Errr no.

But you feel free

Edited by Red Knight

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No I'm sure he cares about his personal wealth too.

Fair enough. But I think gold has also become a symbol of people's rejection of the current CB system. I suspect some (but not all) people who promote gold do it more out of political ideology than for financial reasons.

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I saw this on Schiff too, but got the feeling they didn't want to answer it as it might fly in the face of what the Fed is doing.

you mean, they were or are being gagged?

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They recognised they were being set up and sensibly refused to be drawn into either a headline grabbing endorsement or repudiation of the FED policy responses.

What's infinitely more worrysome is that anyone listens to Schiff a self-styled 'guru' and gold VI.

What's even MORE worrysome is that he's running for the Senate.

For some reason people 'value' vested interest exhaltation to buy gold 100% guaranteed with very little understanding of all the possible outcomes.

Clearly Schiff in his video is about as partial as it's possible to be, which ought to set massive alarm bells ringing, but oddly has the opposite effect on his disciples.

A fascinating study in social meme 'programming'. Shout something simple at people repeatedly and not only will they fall for it they'll even promote it on your behalf. Quite bizarre and dangerous.

it wasnt the Schiff show...it was a press conference, I believe, in Princeton.

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Fair enough. But I think gold has also become a symbol of people's rejection of the current CB system. I suspect some (but not all) people who promote gold do it more out of political ideology than for financial reasons.

Of course they do.

God guns gold.

I'll reject all three if it's still ok with you.

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Of course they do.

God guns gold.

I'll reject all three if it's still ok with you.

You forgot baked beans.

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You could put it like that, yes. They've got opinions though and for Schiffie to be so shallow is frankly garbage as the Americans would say.

One of them did give an opinion on R4 last week actually....it consisted of a sharp intake of breath and negativity.

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Not sure why you said 'strictly speaking' - the poster to which you were responding is 100% correct, there is no Nobel prize in economics. Nobel didn't set one up.

The "Nobel prize for economics" is as authentic as a 3 bob note.

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They recognised they were being set up and sensibly refused to be drawn into either a headline grabbing endorsement or repudiation of the FED policy responses.

What's infinitely more worrysome is that anyone listens to Schiff a self-styled 'guru' and gold VI.

What's even MORE worrysome is that he's running for the Senate.

For some reason people 'value' vested interest exhaltation to buy gold 100% guaranteed with very little understanding of all the possible outcomes.

Clearly Schiff in his video is about as partial as it's possible to be, which ought to set massive alarm bells ringing, but oddly has the opposite effect on his disciples.

A fascinating study in social meme 'programming'. Shout something simple at people repeatedly and not only will they fall for it they'll even promote it on your behalf. Quite bizarre and dangerous.

Yes, it really is a jolly good thinh this fiat money, isn't it? You know, how banksters can confiscate wealth via inflation: just fab!

People like Schiff that advocate a return to the gold standard are really dangerous. Returning to gold as money, well, it would control the rate of growth of the money supply - no more inflation

Yes, Schiff really is evil

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Of course they do.

God guns gold.

I'll reject all three if it's still ok with you.

Hyperinflation is gonna wipe you out: sucker!

Still, you'll still be able to burn your £/$/€ notes to keep warm. Ypu've probably got a few govt. bonds to burn too

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  • 285 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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