Who would you go to if you had no conscious or morals and wanted to pitch a terrible product to people?
You'd probably want to find another charlatan who has a large following of uneducated and naive people. Most people call them "suckers."
There are many charlatans who fit the bill, namely Alex Jones, Robert Kiyosaki, Dr. Oz, and Tony Robbins, just to name a few.
Peter Schiff is the man with the terrible product to pitch.
I'll reveal what he's pitching and who he's getting to help him pitch it shortly.
We all know Schiff has made all kinds of wild claims and terrible predictions about gold, the US dollar and the US stock market in order to make gold sound appealing to naive individuals who lack the ability to think for themselves.
In the past he was pitching Valcambi "gold bars."
As you might recall, the way Schiff sold this product was quite scammy because he claimed it would preserve the value of your dollars when in fact it actually did the opposite.
Schiff has since moved on from the Valcambi disaster unscathed. After all, he made money selling that garbage, while most people who bought it most likely lost money.
So what’s Schiff pitching today?
Schiff figured out a way to keep getting paid every year so long as he can convince people of his myths and fairy tales about gold, the US dollar, and the US stock market.
Instead of selling the suckers physical gold and getting paid only once, he’s now peddling fiat-based shares of gold mining stocks.
Imagine that. The same guy who insists that the US dollar is going to have very little if any value is now transacting business in dollars.
So long as he can keep people invested in his money-losing gold fund, Schiff will get paid upwards of 3% (on average, annually) of the assets under management. All he has to do is keep the BS flowing.
But the most important part of the scheme is to pitch his BS to a large audience of suckers.
Schiff previously partnered with Alex Jones' in order to pitch his fairy tales to Jones' delusional and mentally unbalanced cult members.
But he also teamed up with Robert Kiyosaki; you know, the self-proclaimed investment "guru."
By now, it should be obvious to every sane and intelligent adult that Kiyosaki is a con man, liar and purveyor of disinformation and bad advice.
You know what they say…
“You will be judged by the company you keep.”
“Birds of a feather flock together."
Based on Schiff’s public track record (which is one of the worst I have ever seen) there's not much chance any investment he pitches is likely to do too well.
And if he has a financial interest in it, I think it’s safe to assume those chances become even smaller.
When you toss Kiyosaki's investment prowess into the pot, I can’t imagine any result other than pure disaster.
You can already tell where this is going. Since Kiyosaki is a contrarian indicator, the best move would have been to short the fund once Kiyosaki bought it, especially since it was Schiff's fund (making the short a double-down contrarian indicator signal).
So, let’s take a look.
On September 30, 2020, Robert Kiyosaki claimed that he bought Schiff’s gold fund.
I’m assuming that he bought it within a few days of this confession (I'm willing to bet that this was a paid advertisement even though it wasn’t communicated that way).
Schiff's fund is so pathetic that it even underperformed the gold ETF (GLD) by some 600%!
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