Some additional thoughts on this – since it has become blog-bait material and generated lots of discussion today:
– Penny stocks as a rule are almost always a complete waste of time. In fact, for 99% of investors, they are in fact a complete waste of time. The spreads, the illiquidity, the volatility are all highly negative factors. Additionally, they are subject to ‘pump and dump’ as well as ‘short and distort’ scams and have been since the beginning of listed exchanges. There are plenty of opportunities around without these huge negatives so why take on the additional risk?
- If anyone is looking at mining stocks, look at the highest cap, most liquid companies first. If you want to own this sector, there is plenty of opportunity in large cap gold miners with proven management. As you work your way down the list toward mid-caps and small caps you are adding risk. By the time you get to the micro-cap penny stocks, the risk-reward ratio becomes equivalent to a lottery ticket and you are no longer investing. By the way, any investment needs typically three to five years to hopefully work out. If your expectation is to realize the gains anticipated when initiating a position in less time, you are not investing; you’re gambling.
- “Crash Proof” by Peter Schiff is one of the best books ever written for retail investors about the stock market; right up there with books by Marty Zweig and Peter Lynch.
- Physical Gold and Silver are money. Ten years ago a few analysts (including Schiff) determined that the world would swing away from fiat currency back to real money. This trend has generated 20% annualized returns for ten years with no reason to think it won’t continue for many more years. Silver, keep in mind, is up 16% this year – on track for another outstanding year.
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Terr de people peter, terr de people….
Score 1 for Peter Schiff; zip for NIA
Thanks, Max.
wasn’t George4Title also involved in this some how? didn’t Max have him on one of his shows?
get him back and name and shame Max, Name and f**king shame.
S.
So, Peter IS Back, is Misch now dumped or just on the back burner?
Mike
Good on you Mr. Shiff for exposing these fraudulent bastards.
———————————————————————————————
I get the NIA emails from them to. I foubd out about MGP on Friday. As soon as I saw the chart when it went from .37 on Wed to .50 on Saturday I thought pump and dump. I am an amature and I figured that out quick. But many people are hurting for money and will not use good judgement while in that state. I did not know about Johnathan Lebed though being the youngest pump and dump crook ever prosecuted by the government. The government never goes after the big guys and keeps the rest of us poor as they can.
The college scam film was very entertaining but when it got to the part that you will make an average of 35,000 if you just skipped college and went right to work it got disappointing. Your 3rd year which would make you better off then going to school because you would average 35k. I got news between 55 and 60 percent of Americans earn less than 25,000 a year. So the info is not true. With a degree I suspect you make 30k to start if you can find one of those positions. Most of thm would be with the government or in very high cost of living places. This point should have been in the film which tells me this film was slapped together or had very little thought put into it. If you live in Los Angelos I get how you come up with that number.
I do enjoy reading their emails on what is really going on even if the information is
copied from Peter Schiff. The more people who know what is going on the sooner we will be able to revolt and take back our government.
I will make one more observation. If you get on the NIA email list to get the “inside stock info” they charge usually 1000 dollars to as low as 500 dollars. On thing you got to realize is in order for you to win somebody has to loose. So I did not fall for that. They claim they use the money to maibtain the sight and answer questions from the public. Lets hope that it is true and not being used to run the next pump and dump process when they buy their next stock.
I get those damn emails too!! When I got my first one I thought to myself “pump and dump” if you notice there is a little fine print that says something about “the president of NIA may or may not have shares of this stock” and then NIA never sold one share, I repeat NIA never sold one share *yeah cuz the president did dumbass!*
It’s all a fraud, Chris will you investigate this? “it’s a fraud!” lol
NIA just sent an email claiming they have not sold any of their stock listing their portfolio of shares that is owned. Interesting. If they PDF their portfolio with SSNs blocked out with dates bought and sold I would make for creditbility on NIA’s part. They could make Schiff look bad but do they have it? I hope NIA is not running a pump and dump. Other than that they have done lost of good. I would never pay 1000 dollars for info on a stock. This is what I call double shaft gambling.
Dudes,
SHEEP MAY SAFELY GEACE!
http://www.youtube.com/watch?v=7VJoEe_zO_Q
@sam – from what comments on the youtube link above, it appears he doesn’t work for them anymore; by the way, Peter Schiff also worked for serial fraudster Lehman Brothers (as did my mother), and many of our guests have worked for Goldman, JP Morgan, UBS, Bear Stearns and other banks caught defrauding customers and municipalities; it’s true, however, that more people focus on penny stock scammers as does the SEC and DOJ, so if there is fraud here, these guys will no doubt be taken down (even if just so that Goldman and JPM might live to defraud another day); it is only once we interviewed George that I heard this ‘scam’ moniker attached to NIA and that was well over a year ago, so I don’t know how it is that the SEC or DOJ have not yet investigated if they are a scam (as all comments I read seem absolutely certain of); it’s not like these guys are connected like Madoff or Mack the Knife, so how are they still acting with impunity?; I’ve never actually read one of their newsletters and I’ve never received an email from them so I don’t know how they operate and what they are pushing; but maybe we should get him on to talk about this
Here are some links to Lehman’s frauds (there are many more):
http://dealbook.nytimes.com/2008/10/03/prosecutors-said-to-ramp-up-auction-rate-inquiries/
http://asheham.wordpress.com/2011/03/01/pension-fraud-ohio-was-defrauded-by-lehmans-stop-blaming-public-employees/
http://www.istockanalyst.com/article/viewarticle/articleid/1662313
G4T (George for Title) got caught in the NIA (National Inflation Association) trap over a year ago. He was trying to just make a $$$ off his videos. I actually like the G4T (YouTube) videos and he brings good insight into housing markets and the common man on the street. (G4T Detroit series)
I generally do not invest in paper. -With all the criminal banking terrorists the whole stock market is being inflated with Federal Reserve money and the whole market could be a “pump and dump.” -buyer beware.
Join the SLA and fight the fiat terrorists and their “pump and dumps”
Alex Jones is promoting the NIA right now. -not everything these people promote is bonafide.
Great post by Peter Schiff and great and BALANCED insight as per usual from Stacy. Seems a lot of folks are ready to get the pitch forks and burn down the castle…can’t blame us but cooler heads need prevail. Love your work.
I hate to admit it, because being I am not accustomed to being a sucker, but I got caught on this and bought 1000 shares. Is it the end of the world? No…apparently that happens at 6 PM EST today, but none-the-less, us Heathens that will still be here come 6:01 EST, will have to deal with reality. My reality is I am pissed off at myself for not doing due diligence. Let this be a lesson to y’all.
See my story at http://www.tatumba.com/blog/archives/5578 if you are interested.
TMA
BTW I posted the emails if you want to read them http://www.tatumba.com/blog/archives/5578
And who do I believe? Peter Schiff…Why? Because the NIA uses Glen Beck as a bastion of their credibility. Need I say more? Fuck the NIA. The SLA needs to bury those pricks.
The moral of this is Fu*k the paper investments–all of them and stick with real physical gold and silver. It’s too bad that NIA turned out to be a scam, but not surprising from reading their emails.
Mining is usually an extension of finance and banking. And reportedly is as corrupt as they are.
According to the usual scuttlebutt, insider info is equally rampant. No business is done unless previous hard info is available on the placement and quantity of resources.
Such info usually comes from military or “intelligence” databases – looking for guerrillas, terrorists, caves, Nazi/Imperial-Japanese gold, aliens? … the works.
Of course, that’s no reason to scrape a bit more off the plate with a comfy littleP&D campaign – just to keep the hand in.
Or maybe someone got bad info. Or was informed that “someone else” was chosen to further the “discovery” and mining. Or maybe the resource’s territory changed hands (or is about to).
Nature abhors a straight line.
Er, ” … no reason not to scrape a bit more … ”
Sorry.
From the TSX
May 18, 2011 (Filing Services Canada) — Mega Precious Metals Inc. (MGP – TSX Venture), confirms that the Company’s management is unaware of any material change in operations that would account for today’s increase in share price and market activity.
But this is actally what the Wall St Banksters are doing right now with high freqeuncy trading. Buying and Selling Millions of shares to make a few cents on each share at each spin at the Roulette wheel. And I believe the same computers are driving the Silver & Gold prices. In other words the Markets are rigged, it only reflects how a computer wants to make a fast buck.
It’s too bad they are pump and dumpers- I found Revette and US silver through NIA and made a bundle – Trick was not being a pig- I still hold some US Silver. Schiff should have commented that all their picks are not crap- (SLW in Feb of 2009)
Back in the 80′s, I used to maintain the computers for a brokerage firm in Connecticut call Blinder and Robinson that dealt mainly with penny stocks. Four brokers would share one computer terminal. We used to refer to them as “Blind’em and Rob’em”.
NIA is awesome…..dhat was sarcasm in case any one missed it
@YoLithos – mining companies always have the management risk which is why we never make any specific recommendations there
@fred – I believe Schiff did make such a note in his comments below the youtube
@The Mad Ape – thanks for posting that link to your personal experience, I’ll post it above; sorry that you were scammed, but I’m also glad that you have taken responsibility for being scammed; there’s not much I hate more than shriekers who blame everyone else for their mistakes . . . glad you’re not one of them!
I just got an other email from NIA stating all stocks pick they made and the % gains FROM THEIR PEAK.
So its just an other way to promote their stuff by putting large % number of gains when in fact, its just hard to sell all those at the peak obv.
And even if their previous picks were good, if this one was actually a real pump and dump, then would you still trust them ? I wont.. Succes of the past doesnt garantee success of the future
Still liked last video about college, but as usual, Peter Schiff strike again
Thanks Peter!!! Yes, NIA and their sister site, Victory Independence, are pump and dump scams. I actually took the advice of Victory Independence and bought shares of a mining company called Casey Corp, the first available trading day that I could. The stock dropped 80% the first day!!! I was robbed!! Thankfully I only invested a small amount…because I was just testing the waters. Particularly Victory, they only advertise legitimate stocks, cherry picking the ones that have done well, and never tell you about the ones that bombed (usually on the first day). I’m aware that neither have any creditability…Victory Independence was in real estate and all of a sudden he’s an economist picking stocks? He has no finance background, no training, and I doubt that NIA does also. They are all scams!!!
@Greendozen – well, from what I can tell posted here, they are mostly just bad stock pickers? anyway, only the brave of heart, the true adrenalin-driven day trading junky or the genuinely insane goes into penny stocks, for thar be destitution
The NIA is small fish in a polluted cesspool. What happened in China on Sunday – Monday May 8th and 9th to lower silver $6 / oz prior to market openings in Europe and North America? There is the real story.
A $6 / oz drop originating in China on a long weekend in the country, when their markets were not open? Hmmm how about a Hot Spots Show there? Or a Pirate My Film? Problem is we can’t report on it because that slave state will imprison you, torture you, and then kill you. Hmmmm come to think of it that is the the road that the USA is traveling down. They want to follow China’s lead…The US did build their country on the backs of slaves. The black race was the white man’s backbone, now the USA wants to enslave the human race. This will be China’s best/worst MADe in China Export.
If US authorities were legit and wanted to go after a real criminal enterprise, then they would go after the ‘players’ in this crime. This was an act of financial terrorism. This was used as an excuse to raise margins on silver contracts. The fact there was no buying/selling activity to lower the price by $6 and that physical is hard to come by, is enough to launch an investigation. The problem is that I think that this crime originated from the White House.
I hope that I live long enough to see all of these Kleptocrats rounded up, stripped of their entire wealth, and left to rot in a cold dark cell.
Long live the SLA!
I can proudly say I am the originator of college is a scam. But I must give some credit to the US constitution. They are all dead so it is ok to plagiarize them.
Counterfeiting is a good thing if everyone is allowed to do it.
It advances technology
Patents are a bad thing.
They RETARD technology
All the people at university of Chicago sosh, and econ, deps are weaklings who couldn’t exist without the tariff on intelligence enforced by the US gov. Their research is worthless. There is no need to steel their ideas, nobody wants the crap. The good name of an American education died a long time ago. Why people want to associate with these names is a mystery. It has been a long time since anything of value has come out of an American university.
Hey John Clark – You can’t get much credibility if you can’t even spell amateur. There’s no way this was a pump and dump. Schiff is a broker. Did you know he trades against his clients daily? All brokers do. Look at your trade confirmations – anywhere it says the firm acted as ‘principal’, that means they bought your stock or sold you stock from the firm’s dealer account. So if a stock is so good that you should buy it, why are they selling it? And vice versa. If you’re stupid enough to pay huge commissions to have someone do what you can do yourself for about $10, then you deserve to lose your money. Seems Peter-boy is crying because he’s not getting filthy rich anymore. He should dump the brokerage garbage and stick to econ; he’d be much better off as would his clients.
george4title’s response to the peter schiff vid:
http://www.youtube.com/watch?v=GIubXcr0iVo
Yup – definitely a scam…
Wow! G4T looks fucked up! LOL! he took a mighty hit from the bong before he made that vid.
NIA’s video content is good and their analysis is worth viewing or reading. However, I would ignore ALL of their stock recommendations. Just buy physical silver and gold. There is no reason what so ever to play the corrupt, rigged stock markets. Even more so, when some promoter is doing penny stock pump and dumps…
I think Jim Willie said recently to buy physical and stay away from the stocks as they are rife with fraud including naked shorting. If you haven’t figured out yet that the paper game is scheme to separate the gullible from their money then step right up and place ye bets!
This might be the beginning of a major PONZI SCHEME surfacing with the recent silver sell-off. I just started looking into this but the recent silver price smackdown could shake out some big players. They are starting to lose money and when that happens among scam artists and banksters they get upset at each other. The NIA might be larger than we think it is. Pay attention to this:
NIA Watch
@David I fail to see the correlation between silver and the pump and dump. Please explain.
Thanks
TMA
http://thenewsunit.blogspot.com/2011/05/nia-watch.html
in 2010:
SILVER FUTURIST:
http://www.youtube.com/watch?v=IesBCOaVGJQ
BOB CHAPMAN:
http://www.youtube.com/watch?v=Qs0pUUc_rbU
Thanks to Peter and Max for spreading the word on this activity of the NIA. I have been suspicious of the NIA from the beginning. A seemingly well funded organization that came out of nowhere spreading the patriot message, but won’t reveal who they are. Last week I even fund a similar website/organization that one can tell is being ran by the same group of people with a similar message. I don’t know if NIA is some sort of a scam op or intelligence op, but they sure seem interested in collecting personal info of patriotic Americans. What’s so disgusting about the NIA is their films Meltup/End Of America/College Conspiracy are probably the best political documentaries I have seen in the last year!
http://www.youtube.com/watch?v=GIubXcr0iVo (as stated before)
-Looks like G4T is starting to lose it. People in SoCal are usually not based on physical assets and with the home values going down many are upset (largest usual debt asset).
=These are trying financial times and people are repositioning their assets. The rich did this years ago when Gold went from $400—>$800. Now the common people are doing it also by paying off credit or selling extras etc. Lots of scams/theft from the desperate also. =Many of the silver/gold sells can be fraudulent and you need to be careful.
Again I would stay away from the fiat scams and stay physical. For fair information try Bob Chapman’s International Forecaster http://theinternationalforecaster.com/Free_Sample_Issue
When people are struggling you need to stay more focused than ever. Do not be caught in the hype or chaos.
Join the SLA and buy physical. –> stay focused and do not join the chaos. Grow a heirloom garden -focus on the real and now and stay healthy mentally/physically.
Has anyone seen the NIA logo? The A is in the form of a red pyramid… Nuff said.
peter schiff is right again.
Kettle
MAX…PLEASE as k the President of the NIA, Dr Evil himself (did you see him with the cat in one of their videos?) to come on your show. If they are so innocent, let’s see them stand up to the FURY OF KEISER! Let’s amke this request viral? Get NIA on Keiser Report and SMASH THEM!
Ah yes, the black/white, good guy/bad guy financial system.
Wherever there is money involved…..
You know the rest
Peter Schiff delivereth the SMACKDOWN on the NIA. I love it!
Off topic but I’ve decided to add this to every post…Ron Paul did NOT suggest selling the gold in Fort Knox. Some other guy named Ron with a monosyllabic last name did. Mish sussed that out.
George Hamminger attacks Schiff for telling truth
http://www.youtube.com/watch?v=w8WRTRBcp7M
what a sad monkier.
Hey Max—Your friend Alex Jones is a major advertiser for NIA. Alex EVEN DOES THE VOICE WORK FOR THE COMMERCIALS. Jump his case ASAP!!!!!
Just because Alex Jones says something or even if a google ad shows on MaxKeiser.com -does not make it bonafide. Money is getting tighter -so these scams will only increase and get more outrageous (volatile).
The fiat silver situation is the same way. =More scams and volatility.
I would also expect more physical silver scams. =you may need to get a gram scale and weigh/observe each coin. I would only buy coins that you have sufficient knowledge of and buy from quality dealers. Easy to “pump and dump” on large silver/gold bars and some of these (gold bars) have been coming from the Federal Reserve as gold payment.
http://www.exohuman.com/wordpress/2011/02/fake-gold-bars-sold-to-china/
You may need to buy a coin book.
http://www.amazon.com/Guide-Book-United-States-Coins/dp/0794831486
Andy Hoffman gives response to Le Metropole Members. Here’s a small part. In the full article Andy points out Peter will have nothing to do with GATA. A BIG red flag – which I didn’t know until now!!!!
On Friday, Schiff decided to post a 15-minute video blog on his website, lashing out at what he called a “pump and dump scam” going on at the NIA. I noted my reservations earlier about the downside of the NIA giving stock recommendations, however what Peter Schiff said in this despicable video was incredibly mean-spirited, attacking one of the pillars of honesty in society for no apparent reason (although I’m sure he felt there was some PROFIT to be made), and, more importantly, completely devoid of evidence. In fact, I find it ironic that he accused the NIA of FRAUD no less than 10 times on the video, when he himself, in my view, is the one leaving himself open to a slander lawsuit.
It sounds to me like Schiff has a personal vendetta against the NIA, although for what reason I have no idea. Much in the same way that he belittles GATA’s assertions (without mentioning its name, however), he seems to believe that going after “conspiracy theorists” will somehow increase his ability to earn PROFIT and achieve FAME (and thus, more PROFIT). I almost died laughing when he repeatedly accused the NIA of “stealing his material”, as once again, the Schiff promotion machine is about convincing the world of the ridiculous lie that he alone predicted every economic event that has ever occurred. What a delusional ass! Being a politician, he should probably learn that being DIPLOMATIC is the best way to win favor, particularly with those that agree with you. But instead, he has chosen the path of using his website and radio show as bully pulpits, selfishly disseminating lies and, moreover, attacking the good guys so he can get in with the bad guys (Senator Schiff, anyone? NOT!).
Umm…well working in the Big financial world, it’s hard to avoid working for these crooked banksters at one point or another during a long career. .Tthe good thing is that some like Max Keiser and Peter Schiff have taken that knowledge in order to do right against the Global banksters. I’ve seen Peter talking from all these mainstream TV financial clowns countless times yet he keeps pushing out the truth.
I’m happy he spoke out against NIA, has many of us on Youtube saw this when it first became clear of who was behind the operation,,,and then once the newsletters started with stock picks..we all knew this organization was crooked.
BTW Max, not sure if you saw this or not, but a fake silver promoter has been making videos,most of them with good information for newbies on the silver scene but gradually his message started to change has did his position towards silver, has he now was advising his subscribers to short silver at certain times…and had also started buying their physical silver from them all the while offering gold mining stock picks for $80/month!!…until he told the person to sell the stock!
Anyhow after seeing his latest video trying to frame you as a scammer, I quickly decided to throw together a video in your defense.
I hope you like it cause I know many of his subscribers did and many have jumped ship over to my channel as I don’t buy or sell anything,,,my info is free like yours!
Thanks Max…and if you”re ever in Canada..or soon South America, send me a message and we’ll hook up for a few “boiler makers” and a beer.
peace and prosperity
connectingdots1
Youtube Channel
http://www.youtube.com/user/connectingdots1
I trust Peter Schiff he is a honest broker and he is not selling anything …Buy physical Gold and especially Silver , the Silver shortage is real folks the money mass in the US is increasing by 14% a year , Bernanke is creating paper money as if there is no tomorrow all this money will end up chasing the real hard assets like gold and silver , Silver is still below its 1980 high it is still very undervalued buy it now before the masses start selling their stocks and buying physical gold and silver , that day the silver price will explode….
As an update to this…all of the videos that George Hemminger posted about this situation were deleted by George or someone who has access to his YouTube account. I can not find a reason posted on his blog or on the NIA site. Maybe he saw the light?
Dr. Jerome Corsi is NOW (20.11 CET) up on AJ Show live!
with new develpements on the Barry Soetoro Birthcertificate case…
V.
Dr. Jerome Corsi is NOW (20.11 CET) up on AJ Show live!
with new develpements on the Barry Soetoro Birthcertificate case…
and the “Joke” Donald Trump…
http://www.infowars.com/
V.