Peter Schiff was wrong on interest rates going up in 2015

Video transcript:

Today is Thursday 17th December 2015 and we are responding to a subscriber who accuses us of being wrong and who has said that we were spreading inaccurate propaganda about Peter Schiff.

In our last video published yesterday entitled ‘FED Raises Rates by 0.25%’ we had one sentence in that 5 and a half minute video which stated “Despite what Peter Schiff and others claimed that there was no way the FED could raise rates – they have been proven wrong. “.

Now one of our subscribers by the name of Nicholas Zounis stated: “More propaganda from this channel. Before you accuse Peter Schiff of being wrong, I think you should listen to what he said. He said that raising rates was a possibility but very unlikely”.

We have to admit, that we have been called many names and also accused of many things, and that we take this in our stride. However, when someone questions our facts then we are irked by it (not a Donald Trump thin skinned kind of irk) but one in which we feel that the accusation has to be addressed because our integrity and honesty is called into question. It would have been very easy to delete the message or even ignore it. What was so incredible was that we asked this gentleman to provide us with links to support his case. This he failed to do, but did respond with a lengthy defence of someone who is clearly his ‘hero’.

So whilst we won’t make a habit of this in case one of you listening think perhaps we’ll insult illuminati silver and get our name mentioned, we will on this occasion allow our accusation to be supported or damned by Peter Schiff’s own words. What we will say is that Mr Zounis comment is right in that Mr Schiff changed his position entirely on the 8th December - that is one week prior to the announcement and when 80% of all economists predicted a rise, - Great Foresight Mr Schiff,- but what about what you said in November, or in October, or in September, or in March or in December last year? Let’s listen and we shall let you make up your own minds:

Some of the audio is not great so please forgive us for that:

23rd December 2014 CNBC Interview ............
19th March 2015 Fox News ………..
2nd September Kitco ………..
6th October 2015 Schiff Gold ………..
29th October 2015 ………..
12th November 2015 – Schiff Gold – listen carefully; so not only is he wrong about rates but also about the rise in the price of gold and silver - slightly changing his opinion
And Now his change in position on 8th December Schiff Report when he became clear to all those involved in Markets that rates were going up, and even then he suggested that all of his previous no rate rise calls were really limited to the following months FOMC meeting.

Thank you for listening and please draw your own conclusions – was Mr Zounis’s accusation of our spreading propaganda an accurate one? – we think not. Are we anti Peter Schiff, no, neither do we follow him blindly or anyone else for that matter. We would certainly like to think that perhaps he just listened to one of our videos and eventually ‘saw the light’.

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Disclaimer:

Illuminati Silver owners come from a background of Banking, International Wealth Management and Economics. Having now retired from these worlds we are not qualified to give investment advice. Therefore, this and other productions must not be deemed to be giving such advice and merely represent the personal views of its owners.