Has the Schiff Hit the Fan?by
Karen De Coster On January 25, 2009, the Schiff hit the fan when a popular and highly respected blogger, Mike Shedlock, took aim at rock-star financial guru Peter Schiff and his salient Peter Schiff fan club. According to “Mish,” as Shedlock is known, “most of the praise heaped on Schiff is simply unwarranted, and I can prove it.” Much of Schiff’s fame derives from the now legendary “Peter Schiff Was Right” video, which was created and promoted by his Internet admirers and as of this writing has been viewed over 1.1 million times. Without a doubt, Schiff has become a hero for hordes of knowledge-seeking liberty activists who desire economic truths as well as a visible voice for their cause. These activists are not shy about openly supporting their guy. Until Peter Schiff, there was practically no one in a position to appear on national TV shows and combat the parade of misinformation consistently trotted out by government propagandists, the mainstream press, and their predictable economic advisors who are determined to shill for a new implementation of a tried-and-failed Keynesian paradigm. And it’s important to point out that most of the praise Schiff is receiving is, in fact, not coming from people who attempt to dissect every investment strategy proposed by Peter Schiff. In reality, the ballyhoo is loudest amongst his fans – people who tend to be ordinary, middle-class Americans who are not financial professionals. Schiff’s fans are disgruntled about an increasingly oppressive U.S. monetary policy, the imploding economic landscape, the push toward financial socialism to prop up Wall Street’s debauchery and fraud, and the contrived lies that spring forth from Wall Street’s gang of government benefactors. These are the issues that Schiff addresses so well, hence his devoted following. February 18, 2009 Karen De Coster [send her mail] is a Certified Public Accountant, has an MA in Economics, and works in finance and accounting in the securities industry. See her website and her blog. Copyright © 2009 Karen De Coster
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