I just ran across this plea from Peter Schiff in my mail box and I had to make a comment.
This is a man who took his 5-man brokerage firm and turned it into a staff of over 100 in less than 3 years, compliments of CNBC and the naive individuals who fell for his hot air.
I guess you can't blame them. Schiff has always stacked up against perma-bull hacks who have absolutely no idea what was going on. So naturally to the less informed, Schiff seemed to be on top of things.
By now, most people with intelligence realize that wasn't really the case. In other words, most people are still in the dark.
If Peter was really serving as his firm's investment strategist, I'd certainly be worried as hell given the fact that he's spending much of his time with the media, and the rest of his time running for Senate. But as I have said before, Peter is really no more than a marketing strategist, rather than an investment strategist as he well knows.
This is what the power of media exposure offers. It can turn the most vile, useless people, and even criminals into celebrities who cash in big. Now I certainly include Peter in this group of scumbags. But the point is that even the most useless scumbag can become a celebrity by media exposure.
This is all due to the stupidity of Americans. How about some recent examples...Octomom, Sarah Palin, Joe the Plumber. Do you get the point?
You see, Peter was aware (as most are in the financial industry) that you can easily and quickly become a millionaire, turn a loser fund into a huge fund (that still sucks, like David Tice's Prudent Bear Fund, Schiff's buddy BTW) if you are selected as a member of the media club. I've seen it over and over from CNBC. This is what the exposure provides in exchange for allegiance to the media's agendas. And it's not often that those offered the chance of these riches refuse to sell out. Schiff certainly isn't any exception based on what I have observed.
Remember, if they are in the media club and they aren't demanding the banking executives be indicted for securities fraud, then they are not to be trusted for anything in my opinion. They are sell-outs. They are only concerned about being a "good boy" so they will be invited back as a regular guest. This will draw in the sheep, which will make them huge sums of money in one way or another.
Apparently unsatisfied with drawing in tens of millions of dollars of new business from the sheep, Schiff has decided to milk every drop of blood out of his media "celebrity status" by leveraging his dog-and-pony act to run for Senate.
I would say that if Schiff's firm was doing better (i.e. so many clients didn't get blown up) he would stick the brokerage business. That's just my own personal belief. Perhaps Schiff senses a "higher calling."
As you read the marketing letter below, notice the urgency in Schiff's plea for money.
Notice how he claims that you will save America by giving him your hard earned money.
This is a man that seems obsessed with what I would consider as misguided ideas of hyperinflation.
This is a man who many have called anti-American due to his continuous bashing of U.S. investments and the dollar at all times.
Study the wording closely and you can detect many things. For instance, notice how he states "$42,000 per American, more than most of US make per year," instead of more than most people make in a year. He is effectively saying that he makes less than $42,000 as a way to appeal to the masses. I find this deceiving and dishonest. The deception and dishonesty continues in his plea for money.
I'll let you go through it and form your own conclusions. I already know what I see.
And now, a sales pitch from our friend Peter Schiff.
National debt is nearly $13 trillion. That's over $42,000 per American (which includes infants) -- more than most of us make in a year. China and Japan own almost $1.7 trillion of our debt, and the debt to GDP ratio is over 90%.
So what is Washington doing to solve this economic crisis and stave off a catastrophe?
Nothing. The only thing our elected officials care about is getting re-elected. All of those hearings, proposed legislation and new regulations, they are just a smokescreen. Washington isn't going to solve our problems. That's why I'm running for the U.S. Senate.
I'm engaged in a difficult primary race, and I need your immediate financial support to help save the American economy. Our campaign took a new radio ad live on Friday touting my economic message, and we must raise $75,000 in the next 3 days - before the Republican State Convention begins on Friday - to keep it on the airwaves.
Follow this link right away to make a contribution of $25, $50, $100, $250 or more to my campaign. There's no time to delay - our economic security is at risk, but your immediate contribution can make the difference between a recession and a disaster.
Washington insiders claim our economy is gaining strength -- it's not. Yes, our GDP is rising, but that is only because we are going deeper into debt to spend money. The problem is that our debt is growing much faster than our GDP. Since the borrowed money is being spent on more government and additional consumption, it can only be repaid by reducing future GDP. This is not a recipe for economic growth but for disaster. By spending now and paying later we are sowing the seeds of our own economic destruction.
It's déjà vu. The housing market collapsed in 2008 because lenders were allowed to give money to borrowers who couldn't afford the mortgages they were given. But guess what - our government is doing the same exact thing today. We are borrowing trillions of dollars from foreign governments, and we can't pay them back!
Yet every day the political establishment passes laws that increase the scope of government and add to our already astronomical national debt. The government cannot continue to grow in size when we are spending nearly $4 trillion a year to run it, more than twice what we spent 10 years ago. It's unsustainable and we must act now to prevent an economic catastrophe.
Do your part in saving the economy by following this link and making the most generous contribution you can to my campaign before the convention begins on Friday. Consider it an investment in America's economic security, and do it now. Every minute you waste, we move closer to the brink of disaster.
I'm counting on you, and so is America.
Republican U.S. Senate Candidate
P.S. Our campaign must raise $75,000 before the Republican State Convention begins on Friday to keep our latest radio ad live. America's economic future relies on my campaign's success, so follow this link right away to make an urgent contribution of $25, $50, $100, $250 or more. Thank you.
As far as I'm concerned, the last thing we need in Washington is another Wall Street guy. Aside from his ties to Wall Street, it would appear Schiff has three really big strikes against him:
His last name (which reminds me of the banking/Wall Street crook Jacob Schiff).
His father's record on tax evasion.
His attempts to destroy the dollar through his continuous extremist views, which due to his media exposure, has influenced many sheep who may have shorted the dollar. Of course Peter benefits financially by spreading the myths of the dollar going to zero, hyperinflation and gold to the moon.
With already a record number of Jewish-Americans (most of which who are Zionists) in Congress, at 50, this makes me feel even more uncomfortable with Schiff's run for Senate.
After all, don't you think there is a problem when a group of people who are dual citizens to a nation that clearly determines U.S. foreign policy is overrepresented in Congress by 500% more than their makeup in the general U.S. population?
Meanwhile, the over-representation in the media and Wall Street is much more eye-popping.
More on Schiff another time. There is so much more to discuss.
Fortunately for Schiff, he does not have to go up against me since the media is only concerned with airing idiots and sell-outs, not experts with no agendas.
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