Peter Schiff has been blasted for publicly revealing the macro-economic weaknesses in the United States, specifically the terrible policies concerning the Federal Reserve and the U.
S.
government bailouts.
Probably the weakest excuse for pummeling Schiff has been that a few investors have temporarily lost money because of the timing they entered the market.
But most people know that investing and trying to time the market is one of the worst possible investment scenarios there are, and there is no excuse for anyone doing that.
Most people investing know better, but they continue to do it anyhow.
You can't protect people from making ignorant decisions no matter how much you try to help them.
If someone thinks they can invest successfully with a near term time horizon, they're going to be in for a big disappointment as the swings of the market will cause them to be paralyzed and full of fear, which makes them make bad decisions.
Do your homework accurately and you won't have to sit there having emotional swings based on today's fluctuations in the market.
The obvious reason Peter Schiff has come under attack because he's gained a significant following after successfully predicting the collapse of the housing and credit markets far before they occurred.
So what people are doing is attacking predictions he's made based on a short term mentality, which anyone could do to anybody, as no one can accurately forecast what would happen, or we'd all be billionaires like Warren Buffett.
Consequently, you can pick out the time period of any investment advisor and make them look bad.
Just look at Warren Buffett and Berkshire Hathaway since September 2008 to get an idea of that practice.
It's really dishonesty by those attacking Peter Schiff, but they do it to gather their own following by focusing on those that are becoming more known to the general public.
It's an old game, but when it comes to our finances, we need to look at the overall economic picture as presented by Peter Schiff rather than those that take short term time periods in order to attempt to make it look like he's wrong and their strategy right.
One thing we need to think about in all of our investing is that the U.
S.
dollar will eventually collapse.
It's only a matter of when, not if.
Schiff has also said the Treasury bond market may already be in a bubble, and if not it will be soon, and that bubble is about to burst.
So what need to do is move our money out of the U.
S.
dollar and into targeted commodities.
Gold is a surety to perform well and be a haven of safety in 2009, and silver should do well in 2009 too.
We also need to be aware of the super contango oil arbitrage situation that guarantees profits going forward.
So the point is, Peter Schiff has the economic situation accurately described, and we need to contemplate that in any investment decisions we make over the next several years.