This is a video of the prediction in question. http://www.europac.net/schiffvideo_wm_lg.asp He was called out on this prediction by Todd Sullivan from seekingalpha. Below is the response from Schiff (Nov 20 2008). "Watch that video again, what did I recommend -- Sell U.S. stocks, get out of the dollar, buy high yielding foreign stocks, and buy commodities, including gold and oil. Lets see back in May 2002 the Down was over 10,000 and the NASDAQ was at 1700. So in the past 6 years, U.S stocks are DOWN about 25% Also the dollar Index was at 107, and even with the recent rally is only at 88, or a decline of %18. Oil was at $30 per barrel, now $50 and gold was at $300 per ounce and is now at about $750. In addition, most foreign stock markets are still well above May 2002 levels, and with high dividend yields, they have considerably out-preformed U.S stocks. Check your facts next time!!"