Thursday, November 4, 2010

Schiff goes berserk!!



I saw Schiff at a conference today at the NYSE. He started screaming at me and shouting obscenities. Many people were standing around stunned. He called me a "fucking bastard!" LOL!!! It was classic. He turned so red and couldn't stop screaming!!! Said I am on a campaign to distort his record.

48 comments:

Mike Sandifer said...

lol Schiff's talked about some "haters" on youtube lately. I guess this is starting to get to him.

welfarewarfare state said...

Mike,

Are you the source of those propaganda videos that take Mr. Schiff out of context? There's even one video out there from his senatorial bid that shows him imitating John Belushi's character from Animal House to fire up the volunteers without any context given at all. In some of these videos the implication is that he said we would already be in hyperinfaltion by now when he said no such thing. He has always said that hyperinfaltion is only inevitalbe if the Fed keeps doing what they are doing. Double digit inflation is already baked into the cake. These attack videos only get a few thousand views anyway. Mr. Schiff's v-blogs routinely get over 50,000 views. How many views do your YouTube videos get Mike? I'd be careful who you start wars with. Not only is he smarter than you, he's got a lot more people on his side.

Given that you were so thoroughly embarrased by him on national television, I would be surprised if it weren't you. Millions of people saw him hand you your jockstrap Mike. For a whole year after your embarrassment, you had a Schiff fixation on your YouTube videos. Are you still up to your childish games Mike? It looks like Schiff has been the one who was right about the housing bubble, Freddie and Fannie, financial stocks, decoupling, gold, silver, the depression, the dollar, etc. When this bond bubble bursts you'll be eating more humble pie.

When did you stop buying gold and silver Mr. Norman? Ho-hum...gold up about $50 bucks today. Oil headed close to $100 by years end. It's all inflation.

cheers!

welfarewarfare state said...

Oh, looks like Mike Sandifer has a Schiff fixation,too. Mr. Norman, does Mr. Sandifer's beard tickle when he extricates it from your backside daily.

SchittReport said...

To welfarewarfare state:

Look you clueless sh*tbag, Mike Norman is not the person who has been posting the videos - I am.

Peter Schiff is a conman, idiot and charlatan and dosen't have one clue what he is talking about. If after having watched the SchittReport videos with all the supporting evidence, you still can't understand that, then you are nothing but a sh*t eating cultist zombie. Plus, having peasant idiots like you on Schiff's side defaming people and hurling insults, is exactly why I decided to make the videos about Schiff.

So your cult leader is flustered is he? Well, cult following clown, please go back and tell your master that I am the one making the videos and if he wants to pick a fight, come find me anytime.

I will stand up for great guys and knowledgeable economists like Mike Norman anytime in this Age of Stupid, where cult following zombies like you wander around and pose a threat to our national survival.

>Mike Norman, nice meeting you friend! If you wish to view the videos in question, please search for "SchittReport" on Youtube.
>Mike Sandifer, nice meeting you friend!

welfarewarfare state said...

SchittReport,

Tsk, Tsk, is cursing really necessary? Looks like I hit a raw nerve with one of the Normannites. Ahh, I see.... you are the source of the propaganda videos. Is Mike giving you a little something on the side for your efforts? Money, sexual favors? Are you Mike's Goebbels? Schiff must have really hit on some deep psychological insecurity for you guys to spend so much time and mental effort in an ultimately unsuccessful attempt to discredit him.

Also, I don't follow men. I follow ideas. I have read the same economists and philosophers as Mr. Schiff. I was an Austrian before I had even heard of the guy. I do enjoy his books and v-blogs though because he has an uncanny ability to explain complex economic ideas in layman's terms. He's not introducing me to any new ideas, just better ways of explaing these ideas to others. I think his many years spent cold-calling prospects forced him to develop this ability.

I suspect that the reason that so much venom is directed at me is because my arguments can't be easily refuted. The arguments that some of you present are easily knocked down though.

Cheer up ShittStain and have a good day!

AP Lerner said...

"I do enjoy his books and v-blogs though because he has an uncanny ability to explain complex economic ideas in layman's terms."

Translation, Schiff doesn't understand, and nor do I, but since Shchiff tells a good story, I'll go with that.

Keep up the good work Mike. After Mosler's run, the good word is spreading.

SchittReport said...

"my arguments can't be easily refuted."

You mean such as your inane assertion that Mike Norman is behind the videos?
Well, I just refuted you.
Obviously, you are as logical and rational in thought as your cult leader - which basically equates you to a mongoloid.
Sorry, but its sort of hard to be civil to uneducated peasants like you who go onto Norman's site to troll and make false accusations and then claim that we are the ones wasting time on making Schiff videos.

Mike Sandifer said...

Maybe Schiff's business is hurting. If so, maybe it's because he isn't good at his job. Wouldn't his clients' performance speak for itself if he was really so good?

And on Mike Norman's role in what ever this is, does he write those Wall Street Journal articles about Schiff too? Is he one of the Fast Money hosts, or any number of other hosts and guests who laugh at him on TV? Is he the one making one erroneous, doomsday prediction after another, making himself seem even less serious than he already did? Schiff seems to want to blame everyone, but himself.

SchittReport said...

Btw. did anyone video that incident, Mike? I will pay for the footage just so that I can make it go viral.

welfarewarfare state said...

ShittStain,

Are only doubleplusgood proles allowed on this site? Will no dissent be tolerated here? You guys just can't handle being challenged. Your vidoes get about 2,000 or less views on average. How many of those few hits are just Austrians that went there to make fun of you? You called me and other Austrians clueless, but we weren't the ones blindsided by the housing bubble collapse now were we? We weren't taken by surprise when entities like Freddie and Fannie collapsed were we? We weren't taken by surprise when large financial institutions went under. We knew what was going on with gold, silver, oil, and other commodities long before you guys. You guys still don't know what is going on.

Have you guys considered that much of what you learned about macroeconomics is in error? If I had been as wrong as you guys have been over the last 5 years, I would reevaluate my views.

So your saying that Mike isn't giving you sexual favors for your dirty work? I also noticed that you offered a friendly hello to Mike Sandifer. Did you meet him in Mike's rectal canal?

welfarewarfare state said...

Mike Sandifer,

I don't see the hosts laughing at him now. They seem to have come around to his way of thinking lately especially in regard to the dollar and gold. The entire CNBC staff was clueless about the Fed's housing bubble. They were the ones who looked foolish in hindsight. As the adage goes, first they laugh at you; then they attack you; then you win. It takes guts to go up against establishment orthodoxy. Someone needed to because large swaths of the financial and economics field are incompetent.

Matt Franko said...

'large swaths of the financial and economics field are incompetent.'

Cant argue with you there.

Aussie1 said...

Dear oh dear . . poor Mr. Norman has resorted to fairytales about an enraged Mr.Schiff. Seriously, can you imagine him yelling obscenities at Norman? Schiff has too much class and it would be beneath him - as is Norman beneath him! Schiff is, without a shadow of doubt, a thorough gentleman. Norman's ramblings and half baked economics knowledge are so far removed from the rarified stratum on which Schiff operates it isn't funny. Hey Mike, have you worked out "which false lending standards" caused the housing bust yet. Check yourself on YouTube making an ass of yourself and you may find out! (I think it was one of the "Peter Schiff was right" vids. Truly sick stuff there from Norman. Schiff has it together mate, you aren't even a bit player. Have some common sense, do yourself a favour and stay away from the insults to Schiff. It only reflects upon you, not Schiff. Surely you can see that you poor unfortunate old fool?! If anyone doubts this just spend some time on YouTube and watch Norman embarrass everybody (mainly himself) feebly attempting to argue with Schiff, time and time again as he gets handed his daily embarrassment. He hands it to himself actually as in most of the videos you can see Schiff being patient and kind to Norman - much more so than Norman deserves. I could never understand how he was so patient with Norman as Norman obviously didn't have a clue about anything to do with the subject and was always in attack mode - go figure! Sad really, above all else. I'll leave this site now as I only came across it by accident looking for info on Schiff and his business. Cheers, bloggers, from Sydney Australia.

Airelon said...

I was telling someone else earlier, and I'll say the same here ...

I've always told my subs that when a bit more time goes by? Schiff is not a man to be around. He's going to completely lose it, moreso than shouting obscenities. He'll go full-on postal.

The guy should be held liable for fudiciary. His ideas are insane, and about 80 years out of date.

***

"Mr. Schiff's v-blogs routinely get over 50,000 views"

Then Schiff must be correct! Because high viewership = correct !! That's why Jersey Shore should be considered fine cinema! It has high viewership!

(Yeah ... that's sarchasm)

Schiff is an idiot, and routine wrong. He was wrong about hyperinflation. He was wrong about deleveraging. He was wrong about the world / Asia running away from and decoupling from the U.S. He is wrong that ZERO (ZERO) money has been "printed". This guys returns are SO bad, that he's taken down the graphs of his returns, and argues that his last + 40% year in anyway makes up for the NEGATIVE SEVENTY PERCENT YEAR BEFORE THAT. The guy is STILL in the hole. How do you buy Gold, and end up being down?

How? Because he is just that bad (and insane).

D

Options Trading Investor said...

lol I'm lovin' it!

Blow-hards that get exposed are THE BEST!

The financial industries principal product may be capital allocation, but its by-products are self-absorbed blow hards.

bubbleRefuge said...

Too bad nobody caught it on video.

Peter Schiff talks over people when he doesn't agree with what they are saying. I've seen him employ that strategy over and over on CNBC.
He got crushed shorting the dollar and going long BRIC's from what I read. If he knew anything about government finance or reserve accounting, he would not make the incorrect predictions.

Don't trust anybody with your money and especially someone screaming outdated and incorrect economic principles.

Mike Sandifer said...

Aussie1,

Schiff is far from being a gentleman, as anyone who sees his appearances should know.

He regularly interrupts people and has juvenile rejoinders such as "No I'm not!" when others say he's wrong. He's bombastic, perhaps even in a self-serving way and he's just a stockbroker.

Stockbrokers are the car salesmen of the financial markets and have the incentives to pump up volume rather than serve in the interests of their clients. Full-service brokers should generally be avoided.

For all we know, Schiff's lost a lot of money as an investor and has depended heavily on book sales to try to maintain his standard of living. Why else would he care about some "haters" with low youtube views enough to respond at all? Maybe he's also concerned his client lists are being hit as investors slowly realize he's wrong about almost everything.

googleheim said...

again again again

' the schiff hit the fan '

tsunami on schiff : he DID call the tidal wave of losses, but he was out there in the pre-tidal pull on the blank ocean floor looking at the flopping fish screaming there's going to be a big problem. that is true to his credit.

however, he told everyone to get out of Dodge but he himself ran to the receded shore line and then got whacked by the impinging spike in the dollar.

U$D rules dude !

welfarewarfare state said...

Googleheim,

It's true that in the wake of the crash that some very foolish people ran towards the dollar out of instinct. It was understandable given that the dollar has been a traditional safehaven in times of economic turmoil. That the dollar was the safehaven for so long was mostly like due to it being the last currency to delink gold.

What these people were unwittingly doing was running toward the fire. Look at the dollar index today. The dollar is hitting historic lows against many currencies. The dollar index is now brushing up against its 2008 lows. It will go much lower than that given what the fools at the Fed are doing.

Everyone got taken out with the tide in 2009. Look at the track records of Mr. Schiff and Norman the Conquered over the last 10 years though.

When did the Normanites stop buying gold and silver?

googleheim said...

i don't know

everyone got hosed

i wished to have listened to everyone but only partially

i was in line depositing a customer's check under the impression that i was going to get hosed with a bank run or a bad check.

the teller was japanese of all places here in texas

i had just read that the japanese market was insulated from housing back securities since they got messed up with that in 1991 or so

so I knew as I was in line that I should cash that check and change it in to YEN

however, i could not find a forex company to wire out my money into a Yen substitute holding pond

i should've and couldv'e bought a Yen ETF i guess

yes everyone got hosed and it was the mother of all possibilities to score a billion or lose a billion

I do give credit that Schiff sounded the horn and that he was a true Paul Revere but for some reason, not his fault, we forget we are Americans and we forget the U$D

look at Carter - he was dupped into thinking about austerity and so when the economy tanked or "stanked" it was really easy for a bully Reagan to come along and outspend him. Carter was a nuclear engineer but he thought he had to balance the budget.

welfarewarfare state said...

Googleheim,

The big problem with Carter was that he was a tax and spend leftist. He thought the way to balance the budget was to tax more. He did deregulate some areas of the economy to his credit though. Some of what he got blamed for was the fault of what the Federal Reserve had been doing to the money supply from the late 60's throught the 70's, especially after we delinked from gold in Nov. '71.

The U.S. government attempted to monetize part of the cost of the Vietnam war and Great Society programs. The result was an inflation tax in the double digits.

To Carter's everlasting credit, instead of reappointing Arthur Burns as Fed chairmen, who would have just acquiesed to politcal demands to keep the printing press going, he appointed Paul Volcker. As much as Reagan's tax cuts helped the economy, I think Mr. Volcker's actions as Fed chairmen were just as important. Mr. Volcker turned the monetary spigot off and price inflation soon abated. He saved the dollar. This caused interest rates to skyrocket, but this was a good thing in the long run. The higher interest rates dicouraged consumption spending and encourages saving. It was out if these savings that real credit derived. This credit was used by businessmen to invest in capital equipment. The ensuing growth was real because there were real savings to back the new projects instead of phony credit created out of thin air by banking procedures.

The polticians wanted to hang Volcker in the early 80's, but the big man, in more ways than one, stood up to them. In the short run, the cessation of the monetary spigot caused a lot of pain just as the heroine addict will experience pain when deprived of his fix, but it was very necessary.

Kudos to Carter for appointing Paul Volcker!

hiljaa said...

For the video of this incident, please visit:

http://www.youtube.com/watch?v=wHHbtYJ6qPk

Matt Franko said...

Welfare,

70's: Wrong, it was all petroleum cartel operations, embargoes, etc...

I think again today it's the same thing...right now the only things I see that can perhaps bust the cartel are:

1. Iraq production going well over 5M bpd. (supply side) combined with;
2. Plug-in Hybrid Electric Vehicles (demand side)...

If we get those two things cranked up ASAP, lookout below for oil prices and your 'precious' metals.

welfarewarfare state said...

Matt,

Go back and check the total supply of oil on the world market during the late 60's through the 70's. It increased. We don't have to buy our oil directly from cartel members. They only control about 40% of the world's oil supply anyway. the only country that adheres strictly to the quotas is Saudi Arabia. The other ones end up selling the same amount of oil on the black market but meet their official quota numbers.

The politicans responded to the price inflation of the 70's courtesy of the Fed's actions with price controls. If you put price controls on a product then you can expect artificial shortages and rationing. This is just what happened with gasoline in the 70's.

OPEC is a paper tiger that is believed to have far more power than it actually possesses. They do serve a useful purpose for the western politican though: anytime the price of oil rises because of excessive money creation the politicians can always blame OPEC or speculators.

googleheim said...

OK this thread is worthy
of an entire blog.

The dissent is promising and if it could be combined into a composite picture, then we could make money without having to sound alarms or argue about details.

The 70's were both about what WWS ( welfare warefare ) and Matt say, plus some others.

Norman has a good counterpoint to the reagan myth that he outspent the russians.

Sounds like WWS has one also - that if Volcker turned off the money spigot then that is contrary to spendings.

How can Volcker turn off the printing or crediting ( as we say around here ) while Reagan is known to have outspent all presidents from Washington to Carter combined and adjusted for inflation while smoke screening the whole operation with propaganda of supply side economics ( vis a vis Art Lauffable )?

How can Carter be a "tax and spend" when he did not spend anything ? He tried to balance the budget and he really didn't increase taxes that much compared to those behind him.

I am used to Volcker being painted as the guy who applied CPR to the economy stagflations whose mechanisms and underpinnings go back to Nixon and Ford ( but blamed on Carter ) by jumping interest rates.

Here is an example of what Mike Norman points out as proof that the Fed makes interest rates where they conciously want and will them to be rather than what some market or foreign body org deems them.

Long live U$D ...

Pipo said...

Mike,

You're a very, very lousy person. Schiff never insulted you publicly nor did he upload videos at YouTube about you being a "fraud" as the one you uploaded about his investments (anyways, a pretty bad marketing strategy for the part of your employer, hope he feels ashamed). Have you ever yourself, by the way, disclosed how your investments performed in the past? The only thing you were able to do was to make a comment about some Schiff followers threatening your life - a fact we do not know is real or just a complete lie in order to attack Peter Schiff's person. Are you sure that you do not have any contact with one of those 5-10 extremely Peter Schiff hating profiles at YouTube? I see the same arguments go on again and again. It is really annoying. It is ok to disagree, but the discussion goes to far when the arguments are converted into attacks solely coined at unconstructively throwing rubbish at the other one's face. And that's what your hating campaign is all about.

I feel sorry for Peter Schiff having to deal with immature people like you. And remember, for most people this makes your employer and you as an employee look really, really bad. Your economics do not make sense, but please, keep those personal attacks out of the discussion and let us see your performance.

Pipo said...

Check out the Euro Pacific Capital Halter China Fund, it has earned the double return of the HSI for the past 12 months. Ok, Mike, let's see if you are making triples of the markets' return then.

Elliom said...

It would be foolish to expect anything good from Mike Norman, knowing the company he works for:

http://www.businessinsider.com/amber-ready-john-thomas-financial-2010-8

You guys are the scum of this world. Shame on you.

I´m out of here.

googleheim said...

Pipo points out the Euro Pacific Capital Halter China Fund. Any fund with a pulse has done well in the past 12 months by means of the 500 billion Bernanke Obama subsidization of the market.

Elliom is from outerspace, just joined and never made an entry before ???

Give me a break

Airelon said...

Personally, looking through the comments section here ... I find it truly, truly funny when someone quotes "Business Insider / Clusterstock" as a "source" of information.

This is the same * website * that brings us Courtney posts of "That guy is really really smart!"

LOL

D

hiljaa said...

THE VIDEO IN PARODY OF THIS INCIDENT IS CLASSIC!

http://www.youtube.com/watch?v=wHHbtYJ6qPk

gi1man88 said...

Peter Schiff, sounds familiar.. Oh yeah that's the guy who has owned Mike Norman since the day Mike lost his last shred of dignity for the world to see on Youtube. People will probably be watching that video for generations to come. And now Mike is on a mission to discredit Schiff. Guess what, if Schiff is a whack job and he owns you - that make you look that much worse.

JF said...

Good point, continually bringing up Schiff only serves to cement Norman's place in history as the clueless idiot from the Youtube video.

Mike Norman said...

Schiff was wrong about everything...EVERYTHING. Even real estate! And he continues to be wrong and lose money for clients. All you Schiff trolls, go troll somewhere else. Oh, that's right...you're home, unemployed...and Schiff lost all your money. Too bad.

welfarewarfare state said...

Mike,

I think you suffer from a severe case of repressed development. You've got to be nearing fifty, but your maturity level appears to be at the level of a frat boy. Mr. Schiff must have left some deep psycholgical scars for you to still be obsessing about him. You said, "Schiff has been wrong about everything." (pause for laughter) This latest half-mad post merely confirmed that I was right about you in a previous post when I identified your affliction as cognitive dissonance.

Cheer up Mike, I'm sure that if we all pooled our collective efforts, we could uncover something that you have been right about over the last 5 years.

Yagyansh said...

Mike Norman aka Schitt report, you are true to your youtube name schitt report because that is what you and your reports are ...utter shitt and nonsense.

remember when you spit on the moon above your head, you spit on yourselves. the more you attempt to draw the crowd attacking peter schiff, the more stupid you prove yourself.

The very fact that dumbass like with maturity level no better than a 5 year old, becomes "chief economists" answers why America is in such a bad state.

btw...when u were right last time Mike?

i really liked this from your masked "shitt" avatar
>I will stand up for great guys and knowledgeable economists like Mike Norman ...

"respectable", "great" guy...for a shitt...

hiljaa said...

AWWWW.... you fanboys don't like the great videos about peter schiff on youtube?
you don't like seeing his great imitation of john belushi in different variations - to the tunes of "me and my monkey" or "nobody but you" and the most recent "bale out"?

now unless you are really stupid, why would you do an imitation of john belushi in animal house in the first place and put the video on youtube, particularly during the time you are running for the GOP senate nomination?

pure stupidity perhaps. hahahahahahahahaha.

googleheim said...

from where did all these cockroaches come out of the woodwork ?

Was Schiff going to be an immigrant nazi China coddler ?

$1 trillion in tax cuts for the rich in USA so that China could open up treasury accounts here denominated in U$D so that they could sell their toxic crap here such that it is all subsidized by the sale of said debt so that the Chinese rich can operate in U$D while keeping their underling billion underpaid slave clones operate in Yuan Renmibi so that they can provide a 10 year tax free zone to US factories that move their operations to China so that there are no manufacturing jobs in the USA ?

The Schiff has hit the fan and Norman found the O-ring which shatters in the cup of regular ice water ... just like Richard Feynman, surely youse guys must be joking and all that.

JF said...

"All you Schiff trolls, go troll somewhere else."

Yeah don't make Mikey cry again.

Mike Sandifer said...

I read recently that Schiff's moving some of his business overseas. It's this another sign of desperation?

googleheim said...

Mike Sandifer :

Maybe Schiff is a job exporter and a tax dodger all the same if that is true.

welfarewarfare state said...

Mr. Sandifer,

The name of his company is EuroPacific Capital. Of course he is investing overseas and it would make sense for him to have more offices in Asia. It's a good idea to limit one's exposure to the U.S. market given what is to come over the next decade. Anyone with two active brain cells to rub together should be able to conclude that Asia is the place to be. Their citizens save much of their incomes which finances capital investment. This is one of the big reasons why they have so many factories. It's also, sadly, much easier to open up a business in Asia than it is in the U.S. China has a freer market than we do in many respects.

It always amuses me when the elfin Timothy Geithner lectures the Chinese that they need to enocurage consumption spending and discourage savings through policy measures. This is like the F student giving advice to the A student. It's also a laugh riot when U.S. officials tell the world that they have a strong dollar policy when our policies point to the opposite.

hiljaa said...

hahaha you are talking as if peter schiff has significant operations in asia or something. sorry but the loser's firm has a partial stake in a fund thats about the size of half a peanut (US$60m AUM in a recent disclosure).
all peter schiff does is con retirees, grannies and other very unsophisticated US "investors" into believing he has some knowledge about (and access to) asia when he has none, and moreover, nobody in asia knows or gives a bone about him either.
what a loser.

Mike Sandifer said...

welfarewarfarestate,

Thank for the little intro to Europac, but I'm referring to things like the video below.

http://www.youtube.com/user/CountingTheHours?feature=chclk#p/u/14/9IEsLt4U34w

Try informing from an informed perspective, but don't try with me again. I lost all confidence in any logic or reasonableness you may have had after your first post.

googleheim said...

WWS

you are right about the strong dollar policy irony

mike norman would even agree with you

there are some common grounds here with WWS

the point Mike makes from macro views have always showed that interest rates are where you want them, and that a strong dollar should be apparent when you spend in a manner that creates assets on teh double ledger and Dr Vincent Reinhart pointed this out last week - bonds / revenues etc on bloomberg

DoggeyStyleMikey said...

What artificial lending standards are you talking about?!?!?!!?!?

ioniancat21 said...

To be fair, Schiff is also a businessman like Norman so they are each selling an investment strategy. I do remember those videos back then of the two of them on CNBC years ago with Mike Norman laughing at him while that other guy touted that RE would increase in value by 10% in the year. Months later, subprime was here. I don't take Mike so personally and understand that Mike has to obey the people who run CNBS so when they tell him the sky is yellow, he unfortunately has to tout it as the truth. In short, like most in the media, he's bought and paid for............

reasteddd said...

I just watched Mike Norman on youtube during a show laugh at Peter Schiff because he was forecasting the collapse of the housing bubble. Mike Norman has egg on his face. I am emailing the video of Mike Norman making a complete idiot of himself to all my friends, and associates. Mike Norman is a complete moron for laughing at Mr. Shiff. He could have disagreed, which would have been fine. But he made a spectacle of himself for future reference by laughing at Mr. Schiff. Mr. Norman you are a clown...