Big moves in the dollar , bonds, gold and foreign stocks, Fed and "liquidity," GM bankruptcy.

[MrMickyMouth]

can you lend me some gold for my campaign for anaheim city council.

[manoman0]

"Hi Everybody, this is Peter Schiff....."

I like that introduction.. :)

[OpenYourMindQuaid]

In comparing Schiff to Bernanke, I am dumbfounded. Bernanke dodges questions and gives so little substantive logical proof of the economy's underlying functionality. Schiff, on the other hand, explains things so sensibly with a high degree of clarity, providing examples and metaphors. Schiff, you are so clearly smarter than the morons running this country.

[crabtrap]

i'm new to schiff but i will say that i have come to similar conclusions as him,as early as 2007

(countrywide mortgage failure) i'm up 40% from just jan 09. please do your self a favor and buy (UNG) nat gas etf

it is insanly low.listento schiff,jim rogers,gareld celente,ron paul! forget the fin shows,they tell you to ware waterwings AFTER the tsunumi hits.always behind the 8 ball

[Noisycowonline]

Another 30 billion going to GM today. The banker's puppet will be making the announcement. Sad sad sad sad.

[joshuamarconi]

Hey Pete,

It is great that you decided to speak directly to us.

I am listening to your video via my laptop, so it would be great if you could put the microphone closer when you speak. Since i am traveling around carrying along my speakers is really hard to do.

Love your youtube site - yup i bookmarked it.

Thank you.

[theknightlynews]

Peter, do you recommend buying gold or shares in gold producers? What is your prediction for the DJIA for the next 12 months?

[TWSceptic]

@theknightlynews I hope you bought that gold in 2009. :)

[DillonX]

But what's gonna happen if gold goes over 1000 USDs again & not only people in China & Russia & Turker & India start selling their gold jewelry but the American rappers start turning in their gold chains?

[junior00bacon00chee]

awesome vid pete, thanks once again.

btw though, one very slight criticism, whoever runs this channel....make more interesting titles if you are after views. be creative....make them WANT to click on that bad boy!

[jzmdi493]

The time to prepare for hyperinflation is now, before your dollars are worthless. Signup for the free NIA newsletter at: Inflation . us

[dgallegos4201]

surprising coming from a UC berkeley grad. He actually read the history books instead of listening to the so called professors.

[YankeeClippa]

Pete seemed in a good mood, upbeat and smiling. Its funny, if he goes on one of the business news shows tomorrow they will have a lawyer, an automaker and two Ivy league economists DISAGREEING with everything Peter says. They are still telling him he's crazy.

However, I do believe the hyperinflation crowd is growing.

[HateAllNazis]

o Israel has killed Americans (eg. Sailors on USS Liberty, Rachel Corrie, etc...)

o Israel spies on this country (eg. Pollard, Kadish, AIPAC, etc...)

o Israel bought our politicians with our taxes.

o Israel steals our taxes, hence their higher income.

o Israel uses our country as their toilet.

Want more? Checkout my playlist.

Please share this post with others, and demand that your Senator and/or Representative uphold the laws when it comes to Israel's heinous crimes. Peace!

[heyocanada]

My my, aren't we a walking contradiction today?

[audiohi]

I finished reading "Crash Proof" last night, and hes right, whats happening now is EXACTLY what he said would happen in 07. Amazing...

[jzmdi493]

Prepare for hyperinflation now or go broke when the U.S. dollar crashes. Signup for the free National Inflation Association newsletter at: Inflation . us

[ChrisCaughey]

Thank you, Peter. That was extremely helpful. I've always wondered how the Fed would take all the excess money out of the market. As a newcomer to Austrian economics, the only way I could imagine such a scenario was the exact reverse of adding-digits-to-electronic-ba­nk-accounts-money-creation (namely, slashing the amount of money on their balance sheets). But what you say makes so much sense.

Also: is a formal dollar devaluation likely? Would it really delay hyperinflation?

[Panpiper]

A formal dollar devaluation could only deal with hyperinflation is it was concurrent with a change in policy. And then it would be the policy change, not the devaluation, that dealt with the hyperinflation. The only real way to deal with the current crisis is for us to go back to commodity money, gold backed currency, preferably with a zero fractional reserve on demand deposits.

[DillonX]

Peter will NEVER run for the Senate ...NEVER.

Too many of the people who invested w/ his company would come forward to talk about all the money they have lost.

So....NOT GONNA HAPPEN.

[jahan07]

You can't just single him out. Even Berkshire Hathway lost around 40 % of its value from peak. Dow dropped 40 - 50% as well. However with printing money, Peter's commodity and foreign based investing makes more sense and should be near recovery.

[mjhonsun]

Thanks rzennrer. I knew it had to do with inflation but I hadn't filled in the mechanics of it. I just learned from the last Wall Street Unspun about how OPEC prices oil in dollars so this connects the dots for me.  We haven't seen the obvious (what the media will acknowledge) rise in prices so I was trying to figure the relationship here with the energy costs.

[Rockerchic4God]

No one has to tell me about inflation - I do the grocery shopping every 2 to 3 weeks. We are creatures of habit, so pretty much buy the same things/same quantities/same store each time. Yet, every time - the bill is $15 - $20 more than the last time!

[Lockemeister]

Great sacasm at 9:50!

You're great Peter. Take it from another CT Yankee!

[shroomingnewman]

please fix your audio, peter. i have to almost max up my volume just to hear what you're saying half-way decently.

[Capnwabbit]

True. More volume please

[prescottbill]

The audio is soooooo much better than it was. No complaints here.

Thanks Peter for all your insights.

[MooseOfReason]

Man, who needs fourteen hours of CNBC or FOX Business when you have 10 minutes of Peter Schiff?

[Soupy1007]

So true

[Bmx33606]

So when do you think we will have the Depression? I have an ETF that shorts a sector, and I have been crushed. However, I still believe in it. Is there a time when this Depression will occur?

[wakeupsheeplenow]

we are in the beginning of the depression. It will get worse quickly. The currency will collapse shortly. We will see the amero come out backed up by gold but it will be too late and the currency crash will wipe out all american savings, they will get $.30 on the $1.00 so be prepared.

[JurkoffJay]

Peter be stuttering yo.

"and I, and I, we, we, we, we, I think the the economy is collapsing."

HAHAHAHA!

[jzmdi493]

Prepare for hyperinflation or go broke, signup for the free National Inflation Association newsletter at: Inflation . us

[vancouver57]

Thank you, Peter. I've been watching your vidcasts for a few weeks now and enjoy them very much.

Incidentally, it was announced that here in Canada where I live, each auto worker was given the equivalent of $1.4 Million from the bailouts. I'd be most curious if you were able to figure out and report on what each GM/Chrysler worker in the U.S. was essentially given by the bailout.

[helpendthefed]

Where's "Mish" now? I think he needs to ammend his "Peter Schiff was wrong" BLOG. LMFAO!

[HeWhoPawns]

This GM "bankruptcy" is nothing but a fraud. They will be right back into bankruptcy court within a year or two.

[Panpiper]

No, they won't be bankrupt, because now they are owned by the government which can pour as much taxpayer money into the company as it wants. Government companies never go bankrupt. They are able to post huge losses year after year, and the taxpayer covers them. All in the name of the public good of course. Argh.

[DolphinFilms]

exactly, look at amtrak or the uspo.

[Perceiving]

Great Video Peter. I was wondering how they thought they would remove the excess liquidity. But of course their plan is looney.

[Panpiper]

The only real way the Fed has to remove liquidity is to increase the prime rate of interest. And the interest rate would have to be jacked up to preposterous levels to even slow the the inflation that is coming. The whole crisis was billed by the Government as being one of insufficient lending. If they thought it was bad then, imagine what it would be like with interest rates of 30% or more. The cure for the fallout from their previous cure, will be worse than the original disease.

[drusha1]

fed will drain liquidity through taxes, it's coming Peter. You'll get taxed too

[Panpiper]

Taxes do not reduce the number of dollars in circulation, they only transfer them to the government's so the gov can spend them. And the Fed has no taxing power.

I am not saying there will be no tax increases, but it won't be in an attempt to reduce liquidity.

[BlueSkies360]

I am very suspicous of Pelosi and Geithner being in China at the same time. What can they possibly promise to get Chinese to buy a mountain of garbage? Are they selling our gold? We need to audit Fort Knox!

[christo930]

You don't believe there is any gold in fort knox do you? Any gold the US had is long gone.

[NotAnotherPlatformer]

They are probably selling California to China

[Panpiper]

I couldn't agree more. If the gold has been 'leased out', then the US is completely @#$%&*!

I would note that less than half of the putative US gold reserve is in Fort Knox, the larger half is in the Federal Reserve Bank of New York, which of course also should be audited.

[fox20012]

this is the best news, now i can tell the people who lost money with peter to STFU and get a brain

[jckjti49]

The time to prepare for hyperinflation is now. Signup for the free National Inflation Association newsletter at: Inflation . us

[Capnwabbit]

quit the spam

[4rcane]

Chris Dodd poll numbers are low. I think RNC has someone they're supporting already. No idea who he is, but I hope he's not a RINO. RNC should back Peter Schiff for Senate

[davincij15]

I gotah run out and get me a Government Motor vehicle!

Man the danger we are in is unbelievable, you have to make jokes so you are not depressed about it.

I mean name one government run industry much less cars are hot items today?

[BlueSkies360]

davincij15: No need to run anywhere. You have already purchased your Obamamobile with the tax dollars you gave to Government Motors. It is parked in your garage next to your other car; it is just invisible....

[davincij15]

You listen to news that comfort the disturbed and disturb the comfortable at Patriot radio news hour eh?

They are funny guys. I noticed some GM / Chrysler employee thumbed down our comments.

[devilmirror1]

Peter's wisdom is an asset to the US. Obama is the net loss to this country.

[capaneo]

No matter how bad Obama is the real its 10000000000000 times better than McCain and Palin.

Obama is by faar not the problem. Stupid people and dumbing down people vai media is the real problem. Stop blaming stuff on Obama. If Obama doesnt do what he is doing republicans will be ALL OVER HIM.

He has to do it because most voters are retarded and he needs votes.

I rather US go down the toilet with Obama than with McCain and Palin.

[stumbo2w]

Obama is doing incredibly stupid (or smart?) things. He will no doubt destroy our economy and our dollar (and our debt?).Here is what is really scary:

Obama has no idea what he is doing

or

Obama knows EXACTLY what he is doing....

[kenandjasha]

he knows EXACTLY what he is doing

[Astrocreep69]

or he is just doing what he is told...

[christo930]

Where is good ole RR when you need him?

[wakeupsheeplenow]

obama is a puppet. and you are a fool. Obama is run by the banksters same policies as bush so get out of the left right paridigm we are losing as a nation. Get on board with Ron Pauls audit the fed bill.

[capaneo]

Get real the choice WAS between Obama and McCain. Even Peter is saying he will run as republican. People in US will NEVER elect people like Paul because they hate taking responsibility for themselves. Thats why Obama gets elected. People want the goverment to look after for them and they too dumb to see all the damage.

The only hope is for things to get REALLY bad then maybe real patriots like Paul has a chance of presidency.

And economy is only part of the presidents job. Look at social issues.

[fantasyfootballgod]

Run, Peter, Run!

[rikestard]

another great analogy, schiff must dream of these lol

[surgednb]

Not only can you see inflation in the broader market but also in terms of cotton futures: the USDA recently reported the another decline in US cotton mill consumption for the 36th straight month in a row. BUT prices continue to rise. Since March 2nd, cotton prices have gain nearly 30%. Talk about phony growth...

[delatroy]

I was under the impression they are raising inflation just to dump some of their debt, cos the value of the debt goes down as the value of the dollar goes down.

[rflosi]

Keep it up Peter. Eventually people will have to start listening and understanding why you are right.

[jzmdi493]

One of the best ways to prepare for hyperinflation is by signing up for the free National Inflation Association newsletter at: Inflation . us

[sljs1010]

Weak dollar is causing the oil prices rise. Oil is traded in US dollars

[mjhonsun]

Thanks sljs1010!

[D4Shawn]

Anyone have any advice for someone wanting to buy silver (but knows very little about that process [what kind/form of silver to buy and where to buy it from])?

[hooverdog1957]

Kitco and Apmex are sites to check out for silver purchases. If you are a novice buy 1 ounce US Silver American Eagles, 1 ounce bars, and 10 ounce bars. Read the forum on kitco to learn more about precious metals and the economy. I do have one piece of advice buy gold and silver because that is real money not paper money based on faith in the world economy. Preciaous metals are a hedge against declining value of the fiat currency. On youtube search for I.O.U.S.A. This is a good start.

[DolphinFilms]

go to the-moneychanger. com, click on what to buy for some very good advice, i also use bulliondirect. com. goldprice. com has great charts and commentary.

eagles are great but will also have the highest premium over spot price, so rounds/bars and 90% silver are a good choice as well. Peter has spoke of starting to sell physical gold/silver, hope he starts soon.

[jdl1881]

Whrer /When did Peter say he is starting to sell physical Gld/Silver... hard to believe.

[Panpiper]

Peter is NOT selling gold and silver. He IS 'buying' gold and silver.

[DolphinFilms]

on one of his wallstreet unspun podcast. i believe within the last 4-8 podcast. sorry i can't be specific, but he did say he was thinking about selling physical through europac.

[Panpiper]

Ah, ok, I misunderstood the original question. I thought the reference was that Peter was advising divesting of one's gold, which of course clearly he is not.

It would be a good move for Peter to have a mechanism in place for his clients to be able to purchase and take delivery of physical gold through his company. But Peter is investing in gold (and silver) himself and holding his investments.

[helpendthefed]

Peter mentioned on his radio show a couple weeks back that he's working on providing physical Gold/Silver for sale to his clients as a new service. He's not advising investors to sell it.

[Panpiper]

Go to coin shops, or if you can find one, a coin show. Ask to see their 'junk' silver. That will be their old silver dines, quarters, 50 cent pieces and dollars. Usually these are in pretty bad condition and have no real collector's value. They however still have their whole silver value. Try to find someone selling their junk silver at 10-12 times face value. Just last week I bought $50 face value worth of junk silver coins for $500. The actual silver content of those coins was $575.

[andymholmes]

I'm heavily invested in silver. I think it will outperform gold. it will go down before it goes up though. buy in the dips.

[DolphinFilms]

Thanks for the update Peter. Always look forward to your commentary and analysis

[mjhonsun]

What is the cause of rising oil prices?

[George4titleisascam]

guess

[Krampfarsch]

6 words

i n fl a tio n