Not to belabor the point about the irrational exuberance that was the taper talk, but it’s not often that one finds moments of true comedy in the staid world of high finance. However, a video posted yesterday (Sept. 25) by investment banker Peter Schiff, CEO of Euro Pacific Capital (US$500 million under management), is one such moment.
Perhaps feeling put upon by scorn that includes people laughing in his face (yes, listen for it—it happens more than once), Schiff appears to have retaliated. In good fun, of course. His office—probably a young go-getter intern who really understands all this Internet stuff—has assembled a video showing the banker talking no taper, while a cavalry of pundits, analysts and economists from across the financial press and business world say the opposite. Well, see for yourself in this aptly titled bit, Peter Schiff Was Right — ‘Taper’ Edition. (FYI, he also called the 2008 crash, but who’s counting?)