Schiff: Beware the NIA pump-and-dump scam

[brian0918]

Peter Schiff just put out a video critical of the National Inflation Association. If you haven't seen their videos (e.g. the recently popular College Conspiracy video) - they are largely in agreement with Schiff, and they actually use his words most of the time. He brings up this fact - and I have to agree it is true. While I was watching College Conspiracy, I thought several times, "didn't Schiff use this same analogy, this same metaphor?" And my suspicions were confirmed. Nowhere do they credit him for their writing, or even mention him. Yet they are using his ideas and persuasive rationale to gain a wider audience, and promoting (or "pumping") stocks that Schiff believes are worthless and likely being "dumped" by a third party.

[rickygee]

The president of NIA, Gerard Adams has been (weasle word) alleged to be involved with other (weasle word) alleged pump and dump scam organizations. Although the NIA puts out some credible info in their vids and emails, I would NOWAYINHELL take any investment advice from them. The movies/videos are mostly stock footage with a semipro voice over. Still I enjoy them, but I'm my own investment advisor.

[beauanderos]

Jonathan Lebed is co-owner with Adams of the NIA site. Lebed has a long history of stock "manipulation." Draw your own conclusions. http://www.cs.brown.edu/~rbb/risd/Lebed.html Good site, with useful information. Do they have ulterior motives? Would that really come as a surprise to anyone? Whether they dump their investment advice holdings or not, they certainly benefit from the influence (the pump) they wield over perhaps hundreds of thousands of readers.