@coinageboy you can't save in cash, people need to save because inflation is very high and debts are getting too high without savings. You just save in gold or silver, that will defend unlike paper against real inflation. Interest rates are not to be trusted, nor government numbers for inflation.
If what Peter is saying is true, why doesn't he start a business in a country with less regulations, less government, etc. Wouldn't he and his business do a lot better in those countries?
His argument holds no water is he himself will not do it.
Gold trading using the Secret code, this system has a rock solid 90% success ratio allowing If you want to get rich invest in gold! Come visit us to learn more just Google Gold trading Academy.
@THERollyboy123 the "secret code" to trading gold: look at interest rates and fraud. When fraud is very high (it is) and rates are very low (negative: ZIRP + printing money) then BUY GOLD. When this inverts DUMP GOLD for other tangibles. BE WARY OF PAPER OF ANY SORT but keep an eye open for high gains even if it's high risk if you DON'T bet too much.
I agree that Peter did come off a bit rude. But when you got some "yes" man telling you you're wrong and have him spout nothing but the party line bullshit as rebuttals, he deserves to get cut off and told he's a moron, articulately.
what would it be like if the government didn't build the IHS? Well one unintended consequence was it allowed commuter towns in the suburbs to pop up due to easy access to town via the IHS. Which means to get to work required that you have personal transportation. For that to be viable you need cheap fuel. So now our appetite for fuel is even greater. And every time there is a shock to oil in supply or prices, people get mad. So we go messing around in the middle east politics so we can obtain it
Problem with idiot "FrediMerkuryZWenus"'s comment: Peter Schiff IS right! Especially about American being better WITHOUT government "managing" growth or spending us into oblivion! Mr. Rappaport is correct. The gov't was NOT the only way to have a nationwide highway system! The idea is ridiculous, and the whole thing could have been done by private enterprise! That is NOT an argument for the "goodness" of government meddling!
Rappoport logic : If 100% of all "jobs" were government funded we would be one helluva prosperous country. He's the very definition of an over-educated Marxist dolt.
I'm just hoping that TPTB really attempt to destroy the price of gold so there will be a time to catch up with the stacking. Don't buy on margin. Stack my friends. Not much time left IMHO.
@Luneleger indeed - in today's market for gold if you want to play a paper game get a gold GLD call with more than 60 days on it, maybe 90, don't buy until the price/oz is under 1770 and sell as soon as you have paper profits in the 20% to 60% range: whatever makes you happy. STACK 'em if you can
Peter's final counter-argument is GOLD! I love it how the Austrian School of Economics alwasy destroys Keynesiam's arguments. We're going to be seeing Peter months from now debating some other guy on how Peter was right & we're going to forget who the "other guy" in this debate was. :) Way to go, Schiff!
Mr. Rapoport, what is laughable is your idea that a few individuals in government are better able to make decisions for Americans then Americans are able to make for themselves. You, sir, are laughable. The free market is not a ‘libertarian’ idea, it is an American idea. Where were you born, Miles Rapoport?
A Chinese economist and George Soros were talking on t.v. about how to get out of the recession. George uses evidence from 1930s to promote more gov't intervention. That depression lasted 1.5 decades. The Chinese economist uses 1920-1921 to promote less gov't intervention and letting bad businessmen fail. Funny how the recession the Chinese analyst used had a worse unemployment but lasted only 1 year.
Rappaport is a freaking communist. He should take his central planning moronic ideas and buddy up to kim jong un of north korea. All of these people who think like rappaport don't understand what it is that they are truly asking for, and they need to live under real communism for a little while to understand what a nightmare it really is.
Rappaport, you want to state that the social contract was a success? The bill is now coming due for that contract. If there was prosperity related to this it was only because the previous generations stole wealth from the future.
the senior ranks of the U.S. government already knows that the U.S. economy is going to collapse, but more time is needed to bring the country down absolutely, in order to herald the new world order....times are changing
@Salvysahagun The principle subsidy to railroads was land grants - of land that was worthless until the railroad was built on it. This simply allowed railroads to profit from the value they created. It encouraged railroad construction to the point of creating railroads to nowhere, because railroads could profit from creating destinations where people would buy the land and use the railroad.
@Salvysahagun A shining example. Union Pacific received per miles subsidies, bonds, and land grants. It went bankrupt under the weight of the graft, with congressmen and their parasite cohorts serving as contractors and subcontractors who did nothing but leech the subsidies back to their own pockets. In general, the performance of railroads during the Guilded Age was inversely proportional to their subsidy and congressional involvement.
@Salvysahagun Some projects were given per mile or other subsidies. Many of these projects had political patronage, with congressmen and their associates involved as investors or contractors, and quite a few ended up being unprofitable because the graft was even more substantial than the subsidies. This might sound familiar to anyone who watches the news...
I swear these people that defy Peter's sound logic just want to become famous on Youtube because they must know they will be in the next "Peter Schiff Was Right" video
I wish Peter could adress what is going on in Switzerland. The "far-right" SVP party has been pushing for a return to the Goldstandard lately.
But the SNB, the swiss nationalbank, pegged the swiss franc to the euro instead! This act should be seen as treason by the central bank against the swiss people. they should have listened to the SVP party who have been pushing for a return to the goldstandard. But I guess "special interests" want to keep the swiss franc down.
$447,000,000,000 job bill.... If this bill adds 500,000 jobs back to the economy (it won't), that will have cost $894,000 PER SINGLE JOB... and that's if it only adds back 500,000 jobs to the US economy.... think about that. Basically if it's successful, it's still a complete failure because none of those jobs will produce 894,000 income for the people who get employed.
nice to see fools like rapaport talk. makes it easier to still make money while these fools continue to believe in the crap they believe in and get idiots to join them in their sinking ship.
True what Peter says about the highway system... both the railroad system and local trolley cart systems where crushed by the car through both private and public means. This system is not efficient, and not sustainable in the relatively short term, considering peak oil
Peter, don't reply too quickly... let the other guys talk completely their nonsense, so that we have footage for the next Peter Schiff is right video!
According to Wikipedia on DEMOS "Founding Board members included Arnie Miller, of Isaccson Miller, an executive search firm; David Skaggs, a Colorado Congressman; and Barack Obama, an Illinois State Senator." Enough said !!
Obama to the people: Attention everyone I have another announcement. Since Keynesian big government hasn't worked, we've shown no job growth in the past month, our deficits keep getting bigger, our credit score has been downgraded, our children can't get a job, foreclosures are skyrocketing, our troops are now blowing up Libya, prices continue to rise, and China and Russia no longer do business in dollars I propose we cash advance our national credit card to pay for my new "job stimulus package"
@coinageboy precisely, the fact that interest has been artificially lowered, means savings is discouraged and spending is encouraged. That is the bad policy the FED has been continuing for all this time.
Thats why amongst other things he is chastising the FED
These Keynesians are pathetic. It's like they're reading from a script. Spend, spend, spend.....that's the only way out. How did we get in? Spending! Stupid shitheads!
Keynesian economists have to make themselves look useful. If their objective was to do nothing, they wouldn't have a job. This is why there are so few Austrian economists. Because there really isn't much of a job market for those who aren't going to interfere with the market to "make it better".
I'm not getting much richer of buying gold or silver either, because I need to raise more capitals for that and when your gold/silver goes up, so does inflation of other asset prices catches up indefinitely, and I've been losing money because of that
@wayx3 But if you were holding cash instead of gold/silver, your worth would be depreciating at the rate of inflation. At least with gold/silver, you're staying even.
@trick29420 that's true, remember when I sell my gold/silver I still have to paid capital gain tax, capital gain tax doesn't protect hedge through inflations
@wayx3 ....If you're buying 'paper' gold/ silver stock. I would recommend physical bullion. Buy, trade, sell, to whoever, and where ever you see fit. Report it on your 1040 if you want, but who would? You're going to pay taxes on most anything. If you find any other hedges against taxes you let me know.
Peter Schiff repeats the simplest of mantras, that "putting money in people's pockets" is a waste of time and money, and only efforts at producing things with tangible value will help. Money is not esoteric or magical, it is subject to basic economic laws which say, essentially, that if you don't produce more than you spend, then you're screwed, now or later. Right now, we're screwed!
If you had the oportunity to buy GOLD, SILVER, SEEDS, WEAPONS, but instead watched x factor or some other celebrity garbage show and find your self in a tough spot in the near future then FUCK YOU its heart breaking i live among so many zombiefied fuck turds who belive their even more fucked leaders. Being prepared is half the battle won.
Peter! I love that you are learning how to get heard on these segments! Years ago you used to let others say ridiculous stuff and before you could speak they would follow that with more nonsense which would allow them to push their points further! Continue to stop their misinformation in this manner. You speak for us all!
Oh, these poor fools that go up against Peter Schiff really need to watch a little YouTube history. I have lost count on how many things Peter has predicted correctly in this whole mess. It appears however the government may finally be listening to Peter as he had opportunity to give testimony before a House of Representatives subcommittee today. Let's hope they have ear to listen.
He's commented on that many times before. He doesn't expect people to save when the Fed's low interest rates doesn't give them an incentive to do so. He talks about a change in policy that encourages savings. With that, capital is available for new business creation.
Ocourse America is doomed Americans are so dumb these days, I mean does anybody here really think thats this new generation of snooki, gaga and bieber coming out of High school can compete in education or labor with the same generation of Chinese kids? HELL NO.
Congratulations, Mr. Rappaport. You've just won yourself a spot in the next "Peter Schiff was right" video among the likes of Ben Stein, Don Luskin, Steve Liesmann and other clueless cheerleaders.
Americans cannot grasp the logic and brilliance of Ron Paul and Peter Schiff. America is DOOMED. Beyond DOOMED. Our economy will soon be that of Argentina, Bulgaria, Weimar, America is going the way of nations in the past who ended up broke and stupid. You are done people. BUY GOLD and SIlver
Wow Peter is totally right. His talk about the gilded age wasn't rhetoric, I checked the figures myself. USA Real GDP's in ($ bln 2005): Gilded Age 1830 - 22.1, 1920 - 687.7, Annualized GDP Growth: 34.4%. Now what the other guy said, middle class created after WW2: 1949: 2006, 1980: 5839, annualized gdp growth: 9%. Lets see, 34% vs 9%? Peter hit that one out of the park! You can get these figures at us governmen tspending website
Another Obama zombie, a Trillion $ didn't work, but now all of a sudden another unfunded $400+ billion will? This is true insanity. But I guess if you disagree you're just a tea party racist.
lending money for interest is a fallacy because it leads automaticaly to inflation or else those who lend it would become richer and richer and could buy everything in the end. We should fix the price in terms of energy needed to produce it. Energy is natures money.
@UponInfinity untrue - with a currency for which there was no built in interest-rate (inflation losses) there'd be little need to charge a rate. One need not charge a rate for risk: merely take on collateral to balance risk of loss over time. Those without collateral need never apply - their risk is already so high no loan should be given.
@ytgv3fc7 Okay, then what possible incentive would I have to loan anyone money? Why not just sit on the money, bury it in my backyard, or just go out and spend it?
@UponInfinity there should be no financial incentive to loan money. Sitting on the money is the right thing to do.
If a non-financial incentive appears, where you want a person or business to do well not for your own gains, by all means make a loan and by all means, secure it with collateral.
A loan-based economy is a debt-collapse economy and should NEVER be encouraged.
btw. his book about money and economics only works because he uses fish! Fish is like oil: real wealth. Money is a medium of exchange we falsy made into a resource wch it is not.
@pcuimac In his book, fish represent the gold standard that we used to be on. Then, money had real value because you could exchange it for something tangible.
@pcuimac real wealth is real money; paper is not money and is today's medium of exchange (and electrons). All real money is a real thing like gold, silver, land, water, fish, oil, uranium. Non-tangibles pretending to be money have no real value and no stable value.
i bought gold because of mr. schiff in 2009. But it's not the solution of our economc problems. The free market nor the gov can save the economy because it's built on interest and endless growth. Growth stops now. We need a stationary model now.
This clown should read Peter's book: How the economy grows and why it crashes. Laughable libertarianism? What's laughable is belief that the government can improve living standards by the power of printing press.
@twin1010101010 its gonna be epic man im looking forward to the day i can say "i told you so" to all the people i have tried to explain this to so much...The collapse is coming very very soon...
@rpo11234 To which they would reply "GET HIM! HE'S GOT TEH GOLDZ!!"
Gonna keep my mouth shut myself. "Gold? What gold? I sold it all right before the hyperinflation hit. I've got a single brass thousand trillion coin to my name!"
Peter stop being an over bearing interviewee bully.. Let others speak when ur being interviewed!!!!! This is not an open and fair interview because Peter is always dominating such short interviews. Its not that I disagree with Peter, but we should be able to listen to both sides of the attacks and commentary to make a fair impartial analysis of the data being propagated! People, be honest and give me a thumbs up if you agree with me! Even if it bruises Peters ego! Sorry Peter! Finally said it!
Peter's a tiger. He does not give a shit. He's a brilliant guy and knows what works. He gets tired of hearing this putz yammer his wangpuffer and slams him. Good. Stupidity like this should be ground into the dirt with a vengeance.
4:46 this ass starts contradicting his own point about wealth being owned by a small minority up until the government "made some changes" and that they still do today. Well, look at that your changes didn't do what you claim they did.
After watching the debate tonight, then this, my new mindset is.... F-em! I tried to talk sence into people as we all are. Nobody wants to listen, I don't care anymore. I hate to feel this way, but I do. I'm ready for history to repeat itself. All I need is $850 per oz silver to become a millionaire... If one person that clowned me in the past asks for a handout in the future, they can piss up a rope...
@MrJoegraphix You have now finally entered the path to wisdom. People deserve all that is happening, the human nature is such that it loves steal, lie and cheat and that is on EVERY level, not just the elite. The elite know human nature and is floating with the current, getting things done without even trying, while the honest people that want an honest world swim upstream, killing thenselves to get anywhere and not even moving. Why? THEY ARE SWIMMING UPSTREAM (against human nature)!
@MrJoegraphix You are so right. I'm 24 and a few nights ago i broad the economic armageddon subject to a group of friends at a little get together we had. They all seem to listen for a few and a couple minutes later they were back to talking about trying to get a loan for an used Maserati. I look at people as walking ,eating robots with no reasoning at all.
Omg! You sound like me in my last comment after hearing Ms Boushey opposing Schiff at Committee re Govt Spending Oversight in DC couple days ago. I can't take it any more either, like I'm in the land of the living dead, been getting worse since 9/11. No one to talk to in the land of Zombies; more we understand, the more alone we become.
In the immortal words of Abbey Lincoln: "The world is falling down hold my hand ..."
God save America from criminal leaders and idiot masses!
So this clown seriously believes that the government had a large hand in creating the middle class? Man, all it takes is a good economic crisis for history books to be rewritten by revisionist clowns like this. He's just advocating more Nanny State policies. RUN THIS LUNATIC OUT OF TOWN ON A RAIL!!!
America was never supposed to always care for everyone from cradle to grave and guarantee the prosperity of everyone. It was created under a model that gave you the opportunity.
people need to cut Peter some slack, there is always a time delay on these remote interviews obama is a socialists and a liar, and has no idea what made America great.
"write your own rules= liberty
tell everyone they are on their own= freedom,
that's not the story of American= WTF, yeah it is, it's called freedom and liberty
How many names will they come up for spending money.
and in a time when we need to keep money in the private sector... the public sector is already way to big, and that's why we are in the shape we are in now.
if it wasn't for voices like Peter's, we would be so totally screwed.
The ignorant condescension of these arrogant elitists is astounding. Common sense, fiscal responsibility, personal liberty are "laughable" notions? My word. This country doesn't stand a chance with people like this at the helm.
When are these high egos finally going to listen to mr. Schiff ?
TWSceptic 2 months ago
@coinageboy you can't save in cash, people need to save because inflation is very high and debts are getting too high without savings. You just save in gold or silver, that will defend unlike paper against real inflation. Interest rates are not to be trusted, nor government numbers for inflation.
ytgv3fc7 3 months ago
it's so sad that after all the proven "Peter Schiff was right" videos there's more people stepping up for auditions on the next one.
ytgv3fc7 3 months ago
If what Peter is saying is true, why doesn't he start a business in a country with less regulations, less government, etc. Wouldn't he and his business do a lot better in those countries?
His argument holds no water is he himself will not do it.
aegisgfx 3 months ago
@aegisgfx he already did it - he runs Europacific capital outside the USA where no one can nail him with the regulations he is avoiding.
ytgv3fc7 3 months ago
@ytgv3fc7
where is he running it from, why does he claim to be running a business in America then where things are so 'bad'?
aegisgfx 3 months ago
@aegisgfx europac.n et
ytgv3fc7 3 months ago
i mean, just look at miles face, the faggot is a lying SOB that is being paid to talk this BS
muralikumarrr 3 months ago
This has been flagged as spam show
just so you know,, Obama is actually one of the founding members of "Demos". No wonder this faggot Miles is in full support of him
muralikumarrr 3 months ago
Comment removed
muralikumarrr 3 months ago
dude believes every bit of propaganda from the media and his bullshit colleagues and professors he had in college
patgoodall1 3 months ago
If big deficits caused employment, we'd have full employment by now
commoninfected 3 months ago
The guy has no rational rebuttal so he has to insult Peter. "Laughable Libertarianism" has destroyed his credibility.
ItsAllAboutGuitar 3 months ago 2
This has been flagged as spam show
Gold trading using the Secret code, this system has a rock solid 90% success ratio allowing If you want to get rich invest in gold! Come visit us to learn more just Google Gold trading Academy.
THERollyboy123 4 months ago
@THERollyboy123 the "secret code" to trading gold: look at interest rates and fraud. When fraud is very high (it is) and rates are very low (negative: ZIRP + printing money) then BUY GOLD. When this inverts DUMP GOLD for other tangibles. BE WARY OF PAPER OF ANY SORT but keep an eye open for high gains even if it's high risk if you DON'T bet too much.
SEE? DONE. NO GOLD GRADING ACADEMY NEEDED.
JUST speak the truth OPENLY.
ytgv3fc7 3 months ago
I agree that Peter did come off a bit rude. But when you got some "yes" man telling you you're wrong and have him spout nothing but the party line bullshit as rebuttals, he deserves to get cut off and told he's a moron, articulately.
Cirris 4 months ago 4
money is trash people that make $60,000 a year have less than a $100 in the
bank
sha370z 5 months ago
I like Schiff typically. He was needlessly rude in this video.
Powerkicker 5 months ago
@Powerkicker he does that every time lol
ricochetVendetta 3 months ago in playlist More videos from PeterSchiffChannel
what would it be like if the government didn't build the IHS? Well one unintended consequence was it allowed commuter towns in the suburbs to pop up due to easy access to town via the IHS. Which means to get to work required that you have personal transportation. For that to be viable you need cheap fuel. So now our appetite for fuel is even greater. And every time there is a shock to oil in supply or prices, people get mad. So we go messing around in the middle east politics so we can obtain it
emp0rizzle 5 months ago
Rappoport is wrong. It won't grow the economy, only the national debt.
hummarstra 5 months ago
Schiff for president!
baracalypse 5 months ago
Peter Schiff is a very skilled investor but god he is so impolite...
EasyGameFR 5 months ago
@EasyGameFR I would be rude too if I had to deal with these incredibly dim individuals day in and day out!
rizwan1983 5 months ago
Problem with idiot "FrediMerkuryZWenus"'s comment: Peter Schiff IS right! Especially about American being better WITHOUT government "managing" growth or spending us into oblivion! Mr. Rappaport is correct. The gov't was NOT the only way to have a nationwide highway system! The idea is ridiculous, and the whole thing could have been done by private enterprise! That is NOT an argument for the "goodness" of government meddling!
AmericaTops 5 months ago
yaaaaaaa..construction work 4 illegal's..
chadberry75 5 months ago
socialists are so dumb. Wow.. who buys this garbage?
tflst5 5 months ago
Rappoport logic : If 100% of all "jobs" were government funded we would be one helluva prosperous country. He's the very definition of an over-educated Marxist dolt.
Garyscott7 5 months ago
I'm just hoping that TPTB really attempt to destroy the price of gold so there will be a time to catch up with the stacking. Don't buy on margin. Stack my friends. Not much time left IMHO.
Luneleger 5 months ago
@Luneleger indeed - in today's market for gold if you want to play a paper game get a gold GLD call with more than 60 days on it, maybe 90, don't buy until the price/oz is under 1770 and sell as soon as you have paper profits in the 20% to 60% range: whatever makes you happy. STACK 'em if you can
ytgv3fc7 3 months ago
Gosh Peter that was aggressive. Still, I understanding your frustration.
RicoBoudreau 5 months ago
ARE THESE PEOPLE INTENTIONALLY STUPID? ONLY PETER SCHIFF MAKES SENSE.
MAGMADIVER1 5 months ago 4
DOING NOTHING IS THE BEST MOVE!!!!!!
kevreilly7 5 months ago in playlist More videos from PeterSchiffChannel
Peter's final counter-argument is GOLD! I love it how the Austrian School of Economics alwasy destroys Keynesiam's arguments. We're going to be seeing Peter months from now debating some other guy on how Peter was right & we're going to forget who the "other guy" in this debate was. :) Way to go, Schiff!
kubaner 5 months ago
Mr. Rapoport, what is laughable is your idea that a few individuals in government are better able to make decisions for Americans then Americans are able to make for themselves. You, sir, are laughable. The free market is not a ‘libertarian’ idea, it is an American idea. Where were you born, Miles Rapoport?
ElectRepublicans 5 months ago
"Get out of the deficit by economic growth"
Is this guy stupid or just pretending to be? COUNTRIES DO NOT GROW OUT OF DEBT...IT DOES NOT HAPPEN.
2leet2cheet 5 months ago
A Chinese economist and George Soros were talking on t.v. about how to get out of the recession. George uses evidence from 1930s to promote more gov't intervention. That depression lasted 1.5 decades. The Chinese economist uses 1920-1921 to promote less gov't intervention and letting bad businessmen fail. Funny how the recession the Chinese analyst used had a worse unemployment but lasted only 1 year.
Tasadaru 5 months ago
Laughable Libertarianism must mean Libertarians laughing all the way to the bank.
Talodus 5 months ago
Featured on Newsbad .. Excellent testimony Peter Schiff! This was Fantastic!
TGtube1 5 months ago
Never give power to bolshies. They have had more than enough; hence the sad situation the US is in today.
MotAdvNSW 5 months ago
Rappaport is a freaking communist. He should take his central planning moronic ideas and buddy up to kim jong un of north korea. All of these people who think like rappaport don't understand what it is that they are truly asking for, and they need to live under real communism for a little while to understand what a nightmare it really is.
snarbywrx 5 months ago 7
I was like, hey where's peter? Then TALKING BILLBOARD!!!
timmit59 5 months ago
USA is bancrupt and they want to spend more?! Yeah, in fantasyland everything is possible. Like spend Now and Pay later (ahum) ... Neverland.
MrEdwinauer 5 months ago
Rappaport, you want to state that the social contract was a success? The bill is now coming due for that contract. If there was prosperity related to this it was only because the previous generations stole wealth from the future.
poxbox 5 months ago 3
Rappoport doesnt know shit. His type of thinking is whats ruining the country.
mrbrianmccarthy 5 months ago
I mean seriously - how did this Rappaport cat get his mug on TV? Is this real life?
canefan17 5 months ago
LOL @ Rappaport
canefan17 5 months ago
Hmmm, maybe we should support Obama's jobs program, while buying gold at the same time. It'll make us libertarians richer. Lol!
Johnhoulgate 5 months ago
"My name is Miles Rappoport and I like fucking rabbits...
They're so soft and yielding !...
Much like my brain."
johnnycaboosehead 5 months ago 2
I feel like we're living in a fucking twilight zone episode.
MrPatrick2011 5 months ago
rappaport is an idiot. peter is right, the government has become the enemy of the people.
77sporty 5 months ago
the senior ranks of the U.S. government already knows that the U.S. economy is going to collapse, but more time is needed to bring the country down absolutely, in order to herald the new world order....times are changing
HAHAHAHAHAHAA
ricodelta1 5 months ago
This has been flagged as spam show
"$35 billion for states to prevent layoffs of a, and create more unemployment in the public sector." - President of DEMOS
Yes, it will create more unemployment.
hsfbunny 5 months ago
Comment removed
hsfbunny 5 months ago
The railroads where built by Government.
Salvysahagun 5 months ago
@Salvysahagun The principle subsidy to railroads was land grants - of land that was worthless until the railroad was built on it. This simply allowed railroads to profit from the value they created. It encouraged railroad construction to the point of creating railroads to nowhere, because railroads could profit from creating destinations where people would buy the land and use the railroad.
thaguy6502 5 months ago
@thaguy6502
Pacific Railroad.
Salvysahagun 5 months ago
@Salvysahagun A shining example. Union Pacific received per miles subsidies, bonds, and land grants. It went bankrupt under the weight of the graft, with congressmen and their parasite cohorts serving as contractors and subcontractors who did nothing but leech the subsidies back to their own pockets. In general, the performance of railroads during the Guilded Age was inversely proportional to their subsidy and congressional involvement.
thaguy6502 5 months ago
@Salvysahagun Some projects were given per mile or other subsidies. Many of these projects had political patronage, with congressmen and their associates involved as investors or contractors, and quite a few ended up being unprofitable because the graft was even more substantial than the subsidies. This might sound familiar to anyone who watches the news...
thaguy6502 5 months ago
@thaguy6502
Their would have never been a gilded age with out railroads and tarriffs.
Salvysahagun 5 months ago
I'm going to be Rich!!
sendyoshit 5 months ago
I swear these people that defy Peter's sound logic just want to become famous on Youtube because they must know they will be in the next "Peter Schiff Was Right" video
ih8ronpaulh8ers 5 months ago
I wish Peter could adress what is going on in Switzerland. The "far-right" SVP party has been pushing for a return to the Goldstandard lately.
But the SNB, the swiss nationalbank, pegged the swiss franc to the euro instead! This act should be seen as treason by the central bank against the swiss people. they should have listened to the SVP party who have been pushing for a return to the goldstandard. But I guess "special interests" want to keep the swiss franc down.
MetalHeadViking 5 months ago
$447,000,000,000 job bill.... If this bill adds 500,000 jobs back to the economy (it won't), that will have cost $894,000 PER SINGLE JOB... and that's if it only adds back 500,000 jobs to the US economy.... think about that. Basically if it's successful, it's still a complete failure because none of those jobs will produce 894,000 income for the people who get employed.
qualm43 5 months ago 31
nice to see fools like rapaport talk. makes it easier to still make money while these fools continue to believe in the crap they believe in and get idiots to join them in their sinking ship.
rohr808 5 months ago
True what Peter says about the highway system... both the railroad system and local trolley cart systems where crushed by the car through both private and public means. This system is not efficient, and not sustainable in the relatively short term, considering peak oil
cramlow1 5 months ago
Gee I'm SO glad Mr Rappaport and people like him know SO much better than us peons and decide our fate for us. Moron.
leewalterstx 5 months ago
Peter, don't reply too quickly... let the other guys talk completely their nonsense, so that we have footage for the next Peter Schiff is right video!
scienterprize 5 months ago
According to Wikipedia on DEMOS "Founding Board members included Arnie Miller, of Isaccson Miller, an executive search firm; David Skaggs, a Colorado Congressman; and Barack Obama, an Illinois State Senator." Enough said !!
seft0n123 5 months ago
I love you Peter but you INTERRUPT too damn much!
svenp 5 months ago
@svenp You have to on TV, or someone else steals all the time.
markleerose 5 months ago
Managed capitalism? Is that like laissez-faire socialism?
Tummler 5 months ago 2
Obama to the people: Attention everyone I have another announcement. Since Keynesian big government hasn't worked, we've shown no job growth in the past month, our deficits keep getting bigger, our credit score has been downgraded, our children can't get a job, foreclosures are skyrocketing, our troops are now blowing up Libya, prices continue to rise, and China and Russia no longer do business in dollars I propose we cash advance our national credit card to pay for my new "job stimulus package"
cwbull123 5 months ago
Yeah time to extort the idiot sheeple. We've lent them a hand long enough and its time to take care of ourselves.
mnags57 5 months ago
LOL! You're so right, FredimerkuryZWenus!!!! It's a tough toss up between Rappaport and Art Laffer
tsaotsaotherebel 5 months ago
lol Peter just can't wait, hahha such a kid but I love it :)
kristoffertm 5 months ago
This has been flagged as spam show
Our country is going down the drain. We are going to be chinas bitch
What can we do to fix it? Anyone have an answerd
labklaw 5 months ago
This has been flagged as spam show
Our country is going down the drain. We are going to chinas bitch
What can we do to fix it? Anyone have an answerd
labklaw 5 months ago
Comment removed
labklaw 5 months ago
Schiff Owns.
trick29420 5 months ago
@coinageboy precisely, the fact that interest has been artificially lowered, means savings is discouraged and spending is encouraged. That is the bad policy the FED has been continuing for all this time.
Thats why amongst other things he is chastising the FED
kardentyrell 5 months ago
Peter getting angry - good. Go for it dude.
dskillz1 5 months ago
These Keynesians are pathetic. It's like they're reading from a script. Spend, spend, spend.....that's the only way out. How did we get in? Spending! Stupid shitheads!
Keynesian economists have to make themselves look useful. If their objective was to do nothing, they wouldn't have a job. This is why there are so few Austrian economists. Because there really isn't much of a job market for those who aren't going to interfere with the market to "make it better".
jjenson2006 5 months ago
I'm not getting much richer of buying gold or silver either, because I need to raise more capitals for that and when your gold/silver goes up, so does inflation of other asset prices catches up indefinitely, and I've been losing money because of that
wayx3 5 months ago
@wayx3 But if you were holding cash instead of gold/silver, your worth would be depreciating at the rate of inflation. At least with gold/silver, you're staying even.
trick29420 5 months ago
@trick29420 that's true, remember when I sell my gold/silver I still have to paid capital gain tax, capital gain tax doesn't protect hedge through inflations
wayx3 5 months ago
@wayx3 ....If you're buying 'paper' gold/ silver stock. I would recommend physical bullion. Buy, trade, sell, to whoever, and where ever you see fit. Report it on your 1040 if you want, but who would? You're going to pay taxes on most anything. If you find any other hedges against taxes you let me know.
trick29420 5 months ago
Peter Schiff repeats the simplest of mantras, that "putting money in people's pockets" is a waste of time and money, and only efforts at producing things with tangible value will help. Money is not esoteric or magical, it is subject to basic economic laws which say, essentially, that if you don't produce more than you spend, then you're screwed, now or later. Right now, we're screwed!
bonook8 5 months ago
@bonook8 the best way to put more money into people's pockets, is to leave it there in the first place.
trick29420 5 months ago
@trick29420 That's IN-SANE. You crazy....srsly.
SPQRCincinnatus 5 months ago
@SPQRCincinnatus I know right. Completely wacko. CooCoo.
trick29420 5 months ago
If you had the oportunity to buy GOLD, SILVER, SEEDS, WEAPONS, but instead watched x factor or some other celebrity garbage show and find your self in a tough spot in the near future then FUCK YOU its heart breaking i live among so many zombiefied fuck turds who belive their even more fucked leaders. Being prepared is half the battle won.
realkingkado 5 months ago 2
Peter! I love that you are learning how to get heard on these segments! Years ago you used to let others say ridiculous stuff and before you could speak they would follow that with more nonsense which would allow them to push their points further! Continue to stop their misinformation in this manner. You speak for us all!
tizacat 5 months ago
Saw Schiff on CNBC regurgitating this same stuff, and he was sounding kookier than ever.
drudometkin 5 months ago
@drudometkin okay?
GusBariga 5 months ago
Oh, these poor fools that go up against Peter Schiff really need to watch a little YouTube history. I have lost count on how many things Peter has predicted correctly in this whole mess. It appears however the government may finally be listening to Peter as he had opportunity to give testimony before a House of Representatives subcommittee today. Let's hope they have ear to listen.
geglockn 5 months ago
I agree with Peter! Government needs to get out of the way so that Business can prive!
TheBigdick888 5 months ago
you know the situation is dire when libertarian is relying on the hope of a 'good shot' . Sound more like a hail mary shot
mtube620 5 months ago
Comment removed
mtube620 5 months ago
I know i'm not buying Gold, i'm buying canned Goods that i can Eat for when the World Empire Ends.
Budvb 5 months ago
@coinageboy
He's commented on that many times before. He doesn't expect people to save when the Fed's low interest rates doesn't give them an incentive to do so. He talks about a change in policy that encourages savings. With that, capital is available for new business creation.
kosai19 5 months ago
OMG. The ending was priceless!
dylan14570 5 months ago 2
Ocourse America is doomed Americans are so dumb these days, I mean does anybody here really think thats this new generation of snooki, gaga and bieber coming out of High school can compete in education or labor with the same generation of Chinese kids? HELL NO.
jezza1789 5 months ago
Congratulations, Mr. Rappaport. You've just won yourself a spot in the next "Peter Schiff was right" video among the likes of Ben Stein, Don Luskin, Steve Liesmann and other clueless cheerleaders.
FrediMerkuryZWenus 5 months ago 76
@FrediMerkuryZWenus Exactly what I was thinking!
geglockn 5 months ago
Fear the socialist that wants a manager cuz we always get bad guys. Hitler said all the things this guy would agree with in the early days.
davincij15 5 months ago
Americans cannot grasp the logic and brilliance of Ron Paul and Peter Schiff. America is DOOMED. Beyond DOOMED. Our economy will soon be that of Argentina, Bulgaria, Weimar, America is going the way of nations in the past who ended up broke and stupid. You are done people. BUY GOLD and SIlver
DennyDucet 5 months ago
Schiff nailed this interview! But what else is new?
PoliticallyBlazed 5 months ago 3
it is entertaining.
JXjohn 5 months ago
The 2 Obama cheerleaders are in fantasy land and are scraping for optomisim.
weelgunny 5 months ago
Wow Peter is totally right. His talk about the gilded age wasn't rhetoric, I checked the figures myself. USA Real GDP's in ($ bln 2005): Gilded Age 1830 - 22.1, 1920 - 687.7, Annualized GDP Growth: 34.4%. Now what the other guy said, middle class created after WW2: 1949: 2006, 1980: 5839, annualized gdp growth: 9%. Lets see, 34% vs 9%? Peter hit that one out of the park! You can get these figures at us governmen tspending website
yuppyguitar1 5 months ago 3
Another Obama zombie, a Trillion $ didn't work, but now all of a sudden another unfunded $400+ billion will? This is true insanity. But I guess if you disagree you're just a tea party racist.
BamaKattt 5 months ago
Peter thought he was on Fox still LOL
That other guest is a joke though. "laughable libertarianism" ok sure. George washington, john hancock, thomas jefferson.... laughable libertarians?
shakaama 5 months ago 2
Wow, Peter just pwned that dude.
echatav 5 months ago
lending money for interest is a fallacy because it leads automaticaly to inflation or else those who lend it would become richer and richer and could buy everything in the end. We should fix the price in terms of energy needed to produce it. Energy is natures money.
pcuimac 5 months ago
@pcuimac If there was no interest, no one would ever loan money. Something has to compensate lenders for taking the risk that people will not pay.
UponInfinity 5 months ago
@UponInfinity untrue - with a currency for which there was no built in interest-rate (inflation losses) there'd be little need to charge a rate. One need not charge a rate for risk: merely take on collateral to balance risk of loss over time. Those without collateral need never apply - their risk is already so high no loan should be given.
ytgv3fc7 3 months ago
@ytgv3fc7 Okay, then what possible incentive would I have to loan anyone money? Why not just sit on the money, bury it in my backyard, or just go out and spend it?
UponInfinity 3 months ago
@UponInfinity there should be no financial incentive to loan money. Sitting on the money is the right thing to do.
If a non-financial incentive appears, where you want a person or business to do well not for your own gains, by all means make a loan and by all means, secure it with collateral.
A loan-based economy is a debt-collapse economy and should NEVER be encouraged.
ytgv3fc7 2 months ago
btw. his book about money and economics only works because he uses fish! Fish is like oil: real wealth. Money is a medium of exchange we falsy made into a resource wch it is not.
pcuimac 5 months ago
@pcuimac In his book, fish represent the gold standard that we used to be on. Then, money had real value because you could exchange it for something tangible.
UponInfinity 5 months ago
@pcuimac real wealth is real money; paper is not money and is today's medium of exchange (and electrons). All real money is a real thing like gold, silver, land, water, fish, oil, uranium. Non-tangibles pretending to be money have no real value and no stable value.
ytgv3fc7 3 months ago
i bought gold because of mr. schiff in 2009. But it's not the solution of our economc problems. The free market nor the gov can save the economy because it's built on interest and endless growth. Growth stops now. We need a stationary model now.
pcuimac 5 months ago
Lmfao! Peter Schiff is the FUCKING MAN!
601373 5 months ago
This clown should read Peter's book: How the economy grows and why it crashes. Laughable libertarianism? What's laughable is belief that the government can improve living standards by the power of printing press.
AmerginMacEccit 5 months ago
@twin1010101010 its gonna be epic man im looking forward to the day i can say "i told you so" to all the people i have tried to explain this to so much...The collapse is coming very very soon...
rpo11234 5 months ago
@rpo11234 To which they would reply "GET HIM! HE'S GOT TEH GOLDZ!!"
Gonna keep my mouth shut myself. "Gold? What gold? I sold it all right before the hyperinflation hit. I've got a single brass thousand trillion coin to my name!"
0muffins0 5 months ago
@0muffins0 ha i have hid all of mine away where no one will ever find it and iv told no one...better part is that i have my mossberg 500 with it too
rpo11234 5 months ago
i fucking love these videos where he makes all these guys look like they have no idea. Way to go peter fuck em up!
rpo11234 5 months ago 2
Thanks Peter.
We need people like you explaining the real economic facts.
BITARTEN 5 months ago
Comment removed
BarrySlisk 5 months ago
You tell them Peter!!!
mmyr123 5 months ago
Peter stop being an over bearing interviewee bully.. Let others speak when ur being interviewed!!!!! This is not an open and fair interview because Peter is always dominating such short interviews. Its not that I disagree with Peter, but we should be able to listen to both sides of the attacks and commentary to make a fair impartial analysis of the data being propagated! People, be honest and give me a thumbs up if you agree with me! Even if it bruises Peters ego! Sorry Peter! Finally said it!
Silverbuzzsuccess 5 months ago
@Silverbuzzsuccess
lol the views of the other guy in the interview is all you ever hear when you turn on tv or read a paper. They don't need more air time.
StatelessEuphoria 5 months ago
Peter's a tiger. He does not give a shit. He's a brilliant guy and knows what works. He gets tired of hearing this putz yammer his wangpuffer and slams him. Good. Stupidity like this should be ground into the dirt with a vengeance.
xtop23 5 months ago
4:46 this ass starts contradicting his own point about wealth being owned by a small minority up until the government "made some changes" and that they still do today. Well, look at that your changes didn't do what you claim they did.
pbfrank13 5 months ago
should Try kickin the can , charge it to our great great grands kids
louis12346 5 months ago
After watching the debate tonight, then this, my new mindset is.... F-em! I tried to talk sence into people as we all are. Nobody wants to listen, I don't care anymore. I hate to feel this way, but I do. I'm ready for history to repeat itself. All I need is $850 per oz silver to become a millionaire... If one person that clowned me in the past asks for a handout in the future, they can piss up a rope...
MrJoegraphix 5 months ago 26
@MrJoegraphix Here, here! I tell myself these days that "it's not my job to save these people".
Let them drown in their beloved fiat ocean I say.
0muffins0 5 months ago
@MrJoegraphix You have now finally entered the path to wisdom. People deserve all that is happening, the human nature is such that it loves steal, lie and cheat and that is on EVERY level, not just the elite. The elite know human nature and is floating with the current, getting things done without even trying, while the honest people that want an honest world swim upstream, killing thenselves to get anywhere and not even moving. Why? THEY ARE SWIMMING UPSTREAM (against human nature)!
grumpone 5 months ago
@MrJoegraphix Just remember if shit really hits the fan, they will not be asking you, they will be taking from you, so you better be armed.
grumpone 5 months ago
@MrJoegraphix many of them will not ask... so you better have your guns loaded and ready.
Even worse - they will not ask you - they will ask bureaucrats to take from you and give to them (socialism in action).
grraadd 5 months ago
@MrJoegraphix You are so right. I'm 24 and a few nights ago i broad the economic armageddon subject to a group of friends at a little get together we had. They all seem to listen for a few and a couple minutes later they were back to talking about trying to get a loan for an used Maserati. I look at people as walking ,eating robots with no reasoning at all.
Markitos203 5 months ago 2
@Markitos203 my same experience daily! They go back to football and crappy food. Its over. Nothing we can do.
DennyDucet 5 months ago
@MrJoegraphix i voted for ron paul 2008, and i have notice its harder to save people from this coming doom. its just easier to prepare.
just make sure when the doom happens mock them like their mocked u.
djtohkee 5 months ago
@MrJoegraphix if silver goes to $850 millionaire status isnt going to mean anything
TechHost 5 months ago
@TechHost we gold and silver owners don't count dollars, we count ounces we own
mtube620 5 months ago
@TechHost
Well it would sure mean that any outstanding debts could be paid off with ease!
glazinq 5 months ago
@MrJoegraphix
Omg! You sound like me in my last comment after hearing Ms Boushey opposing Schiff at Committee re Govt Spending Oversight in DC couple days ago. I can't take it any more either, like I'm in the land of the living dead, been getting worse since 9/11. No one to talk to in the land of Zombies; more we understand, the more alone we become.
In the immortal words of Abbey Lincoln: "The world is falling down hold my hand ..."
God save America from criminal leaders and idiot masses!
trumpsahead 5 months ago 2
another Keynesian totally owned by Pete! :D
Cinemaguy2007 5 months ago
Schiff Bodied this chump.....
kryogenikz 5 months ago
So this clown seriously believes that the government had a large hand in creating the middle class? Man, all it takes is a good economic crisis for history books to be rewritten by revisionist clowns like this. He's just advocating more Nanny State policies. RUN THIS LUNATIC OUT OF TOWN ON A RAIL!!!
MrColonel1313 5 months ago
Miles can't defend his own points well. And he is losing to someone in the screen.
tloong1988 5 months ago
Mr. Miles was seriously off...by miles.
purplefetus3 5 months ago
America was never supposed to always care for everyone from cradle to grave and guarantee the prosperity of everyone. It was created under a model that gave you the opportunity.
xtop23 5 months ago
Hahahaha that guy on the left is such a joke its insane
juicejon1 5 months ago
peter wins.
flyinbry 5 months ago
people need to cut Peter some slack, there is always a time delay on these remote interviews obama is a socialists and a liar, and has no idea what made America great.
"write your own rules= liberty
tell everyone they are on their own= freedom,
that's not the story of American= WTF, yeah it is, it's called freedom and liberty
what this jackoff is talking about is socialism.
I can only hope he reads this some day
phantomcharger 5 months ago
lol the more money he gets that was funny
MrBigEnchilada 5 months ago
Wow. What an annoying short fat little pig man the Miles is huh?
dpla5762 5 months ago
How many names will they come up for spending money.
and in a time when we need to keep money in the private sector... the public sector is already way to big, and that's why we are in the shape we are in now.
if it wasn't for voices like Peter's, we would be so totally screwed.
phantomcharger 5 months ago
To reply to the guy on the left, this is laughable fascism, at it's worse
RogueSwordThesco 5 months ago
And those gold buyers will be the only one's left with the capital to rebuild America after the inevitable crash.
dirtbagstatus 5 months ago
Peter Schiff is always getting interrupted. It was actually refreshing to hear him interrupt for once.
LDandSM 5 months ago
And being the President of United States who is not a natural born citizen is not who we are and is NOT the American story.
driller62869 5 months ago
Demos is a ding dong.
FGTBOGSAT 5 months ago
these people that think Goverment is the answer. Look around the world Russa Cuba etc.....
thestonemaster81 5 months ago
Thank you peter
thestonemaster81 5 months ago
Peter beats everyone intellectually, there is no contest ever with these debates.
blazefury2010 5 months ago
The ignorant condescension of these arrogant elitists is astounding. Common sense, fiscal responsibility, personal liberty are "laughable" notions? My word. This country doesn't stand a chance with people like this at the helm.
shezza1776 5 months ago