Summary: * I was in Las Vegas for the Freedom Fest and following that I went to Vancouver for a one-day gold conference * One of the things I wanted to discuss was some discussion about me on the www.kitco.com website and I think it was prompted by my itnterview with kitco, which you can see on my <a href="https://www.youtube.com/PeterSchiff">YouTube Channel</a> * Whenever there is a discussion about me an argument develops between those who want to believe I never get anything right and those with believe I get a lot of things right * I thought one part of the discussion was quite amusing * Of course, I never claim to be infallible; when you make a lot of projections they don't all turn out to be right * Nobody is 100% right on anything that they say * The key is, are you right more often than you are wrong * And when you're wrong, do you change your mind, when the facts change, which is something that I do * But people will always go back and focus on a quote from years ago and say, "Look here's a quote from Peter Schiff saying interest rates would go up, and Look! now they're down" * I did not expect the bond bubble to get this big * Who thought we'd have half of the sovereign debt trading for negative yields? * Very few people envisioned that, but it happened * For the last several years I have said nothing about higher interest rates * I do believe that when the bond bubble bursts rates will spike up * But I don't know when that is going to happen * If you've made enough forecasts, one can always find things that have not panned out * But these people overlook the overwhelming number of forecasts I've gotten right * One of the forecasts people used to make fun of me about was a forecast I made on a show called, "Southland Today" * I put that up on the internet years ago, it's a 2002 interview and if you watch that clip, you'll recognize that a lot of the things I said in that interview were used to form the introduction to the old, "Wall Street Unspun" the precursor to the Peter Schiff Show * The intro for that show included many quotes that were lifted from the "Southland Today" interview * During that interview, I said I thought the Dow would go down to 4000 * Of course a lot happened between 2002 and now * What did happen is that after I did that interview the market fell precipitously; the Dow did drop another 25-30% * The NASDAQ maybe even more * What happened between that interview and the market falling is that Alan Greenspan slashed interest rates down to 1%, and at the time of the interview I did not know he was going to do that * I thought Alan Greenspan would be smarter than that * If Alan Greenspan had not slashed interest rates, my forecast would have been correct * Once Greenspan lowered interest rates, of course, I changed my forecast and became bullish on the market when it was still quite a bit lower * 6yyj6e69
