National Inflation Association Issues Warning: Empty Store Shelves Coming To A Town Near You

reply to post by Skerrako


No Link ?

Here you go, the NIA rebuttal you posted, along with Schiff's response under "comments". I suggest folks read all 10 comments to get a general feel for how "the street" is reacting to this event.

10 comments:

Peter Schiff said...

NIA responded to my video by raising a straw man. They claimed they did not "pump and dump" the stock since they did not personally sell any shares. However i never accused them of that. I alleged that a third party paid them to pump up the stock so the third party could sell their shares. The fact that they never addressed this allegation is pretty compelling evidence that it's true. They also claimed that they warned their members that Mega's gold ounces were merely "inferred." That is my point --they did not warn them!. They did not define "inferred", and they counted on the fact that their members would wrongfully assume that "inferred" meant they actually had gold. That is why they fraudulently calculated the value of their "inferred" ounces based on today's gold price. They also included a list of legitimate gold recommendation. But they only make those "suggestions" to lay the foundation for future pump and dump schemes.

In addition, they accused me of running a failing brokerage firm that will soon be out of business despite the fact that my business has never been better. We have more clients, more revenue, and more profits than ever. We also generally charge much lower commissions than what they claim.

May 21, 2011 7:15 AM

Link

Regarding the stock pics, please note how NIA lists the stock price on the date of their recommendation, followed by the stock high, but conveniently [deceptively really ] they don't list the current stock price. That's the obvious tell.

A couple of examples:

NGAS Resources Inc. (NGAS)

Suggested on February 11th, 2010, at: $1.38

High in 2010, of $2.14 +55%

NGAS closed Friday @ .66 cents. If you bought this stock on their rec @ $1.38, congratulations!...you've lost 52% of your investment to date. Even worse, the 2010 high they quote occured in JANUARY...a month BEFORE their recommendation...and it's been all downhill since then. +55% ? Poppycock!

NGAS

***

China Sun Group High-Tech Co. (CSGH)

Suggested on December 14th, 2009, at: $1.61

High on January 8th, 2010, of $2.35 +44%

CSGH closed Friday @ .55 cents. From $1.61, that represents a loss of 66%.

The January 8th, 2010 high they quote was a short-term spike off their buy "suggestion" issued on December 14. Click the link and note the precipitous drop that immediately followed. First the pump...then the dump.

CSGH

***

I don't have the time or the incentive to parse every stock "suggestion" in the NIA portfolio, I don't need to, some of those companies are well known majors, mid tiers & jrs, reputable business entities, I actually own shares in a few of them...but even a good company can be "worked" by sophisticated stock operators with a large "unsophisticated" subscriber base. At the minimum, any investor entering the highly speculative jr. mining sector needs to become intimately familiar with NI 43-101 compliant resource definitions and guidelines [Inferred vs Proven, Resource vs Reserves etc] or they bear all the financial risks associated with blindly............following

a

shady

stock promoter.

Maybe that's why they say: Always do your own DD.

GL

National Infaltion founder, George4title, spills the beans with Pete Schiff today.

As time progresses, more will be revealed folks.

Peter Schiff interviews George4title about NIA - 24/5/11

Link

GL

reply to post by OBE1


Wow it's all out in the open now, crazy stuff. It's too bad, NIA could of truly been helpful. I guess I better unsubscribe to the newsletter.....or maybe I'll keep it around just to see how fast they can backtrack

Here's a YouTube link to the Schiff/George4tittle interview. To help prevent further financial damage to unwary investors, this information really needs to hit the bullhorn.



I rightly assumed George4tittle would prove to be the weak link in this organization once the heat was turned up. I should clarify that this individual was an NIA co-founder , and apparently he's no longer associated with the group. At least he's certainly trying to distance himself.

Blatant scams sometimes go unpunished, but I'll be amazed it this situation doesn't ultimately attract attention from the SEC, and possibly even Canadian regulators.

While I'm at it, here's a little tidbit on NIA president Gerard Adams.

Link

GL

According to this update posted at EconomicPolicyJournal.com, it appears somebody, or their attorney, filed a complaint with the authorities....a complaint US regulators and the Dept. of Justice believe warrants a preliminary investigation. Most likely disgruntled investors.

Schiff: National Inflation Association is a Fraud

Whoa! Last week,the National Inflation Association put out an email that contained blatant untruths about Peter Schiff.

Schiff is back with guns blazing. Do not mess with Peter Schiff.

UPDATE: Sources advise that the SEC and DOJ are actively examining National Inflation Association activities. - Full Text

edit on 28-5-2011 by OBE1 because: Add: "preliminary"