* 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 YouTube Channel

* 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


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