Peter Schiff’s Prescient Pessimism

There’s a popular YouTube clip called “Peter Schiff Was Right” that shows the president of Euro Pacific Capital engaged in on-air debates with financial luminaries such as Art Laffer and Ben Stein, circa 2006-07.

The clips show the wisdom of Schiff’s dire forecasts — and, judging from the dismissive reactions, just how far he was outside the mainstream.

Ben Stein publicly apologized to Schiff in a New York Times column, but Laffer refuses to admit defeat, recently telling Bill Maher his economic forecasts have a statute of limitations of just nine months.

To his credit, Schiff isn’t declaring victory, noting “100% of my forecast hasn’t panned out,” most notably “a major collapse in the dollar” that leads to a spike commodity prices.

In part one of Task’s interview, Schiff calls gold the “opportunity of a Lifetime.” The video above was recorded Friday. John and Andrew have an interview with Schiff from CNBC Thursday.