There are moments when we will have to choose between what is popular and what is right.  And sooner or later everyone has a moment like this (though most of us are parents when it happens).

For the vast majority of people, these decisions – and the attendant consequences – are made in private. 

In the case of Peter Schiff; however, not only did he take the unpopular stand in a very public arena, he did so in front of a mob of financial analysts who were vehemently opposed to his opinion.

The economy, he said, is in trouble.  As early as August of 2006, he advised financial pundits of a fairly imminent recession.   You can see in this video, around minute 2:52, how his analysis is received by the panel.  (Minute 3:42 is where the derisive laughter begins.)

While pundits such as Ben Stein were recommending Bear Stearns, Merrill Lynch, and Goldman Sachs, Peter Schiff did not – in fact – take the opportunity to recommend AIG.  He was firm; “stay away from stocks”.  And, clearly, he was right.

Though I was appalled at how his lone, dissenting opinion was received – with condescension and disdain -I was also inspired. 

It takes immense courage to withstand mockery in pursuit of the truth.  To go so fully against the tide of public and popular opinion, that your ideas are dismissed outright.  To stand apart from 95% of the experts who will, in turn, call you a fool.

And yet, everyone in history worth studying did exactly that.

Unlike Galileo, who never lived to see the popular acceptance of his work, Peter Schiff has seen his predictions become history.  And also unlike Galileo, we have the ability and privilege of being able to ask how he did it.

Peter Schiff – President and Chief Global Strategist of Euro Pacific Capital, frequent guest on CNBC, Fox News, and Bloomberg Television, economic advisor to a presidential campaign, author of “Crash Proof” and “Little Book of Bull Moves in Bear Markets” – had graciously agreed to probably the least financial interview he will ever give.

Unfortunately the interview fell through, but not before I had enlisted the aid of Squawkfox, as well as Dan Coleman of OpenCulture in bringing his message to a much larger audience.

Still, I deeply believe that this is a story of courage that needs to be shared, as well as his very astute vision of the looming financial meltdown. 

There are many instances in our lives when we will make decisions or express opinions which are so phenomenally unpopular that others will laugh in our faces.  Since I won’t be asking Mr. Schiff, I would like to ask you.

How did you manage being theologically stranded ?

How did you handle the outright condescension?

Were you challenged to cease speaking out, and how did you face that?

How do you deal with the frustration of watching people make mistakes that had such vital impact your life?

What part – if any – did managing your business/hobbies play in allowing you to stand firmly against the tide of popular opinion?  (Or what has been your greatest source of strength?)

And, finally, is there anything else you’d like to say?