Peter Schiff The Schiff Report Video Blog May 19 2009

[vsnips]

Peter for president !

[vsnips]

Jobs don't pay enugh to buy a house anymore, if you made 60k 15yrs. ago, now you make 25k for the same job.

[sohc287]

You are a shining beacon of light in the darkness, Mr. Schiff.

[peilthetraveler]

Dollar index...he said he expected it to hit 80 in 2 or 3 weeks and it happened in 3 days. Wow.

I notice that when he makes these calls, they seem to usually hit the target way sooner than he estimates.

[RodneyHampton]

Wish Ron Paul was in the White House and you were at Treasury Mr. Schiff.

[fjaos633]

With the dollar crashing you can either prepare now for hyperinflation or go broke. Peter is right about the dollar. Read the articles and signup for the free newsletter at: Inflation . us

[OpenMind00]

Hi Peter,

I appreciate your constant tenacious efforts at continuing the stream of giving valuable information to the public.

[rockhuddy]

Inflation WILL continue until Americans are impoverished enough to accept the IMF's global currency. Be very afraid.

[panther9mm]

I can't believe he's trying to blame consumers. We are the backbone of the economy. Those greedy wall streeters are evil. How am I supposed to get a 60 inch lcd tv now if they cut my credit limit?

[promofo4]

are you joking or are you fucking dense?

[panther9mm]

Have you joined the cult of peter schiff?

[wdiaz03]

And you most be from the cult that believes consumers drive the economy, That's why you don't GET IT!

[ToneJermain]

He's messing with you guys ....lol...and it's working.

[wdiaz03]

I must have missed the sarcastic smiley at the end ;) hehe!

[panther9mm]

I used to think that the cult of Peter Schiff would say that new consumers from china will help drive their economy. I guess I was wrong.

[christo930]

Here is an idea.

Save some money and when you have enough saved, go to the store and buy it. If you are bad at saving, put it on lay-away.

[panther9mm]

I am just a poor helpless consumer being bullied by these credit card companies. My 42 inch tv is not working out for me. I just want what everybody else has.

[christo930]

aren't we all? I can't help it that the tv says I have to have a bigger tv with more channels so I can watch more commercials to tell me all about the stuff that will make me happy if I could only had it.

[panther9mm]

I'm just happy that consumer wants have immunity from being called greedy.

[TheFlex21]

I haven't seen any Schiff videos since February...he looks a lot different

[jjljcra]

Thanks Peter. I switched all of my money in my 401k to the stable value fund a year ago. Nobody else I know saw it coming.

[commonsense2008]

Business is dead, no work. layoffs anywhere you go, pawnshops are doing good business now many trade in their golden bracelets and other belongings. Man, what a disaster.

[DA5521]

Schiff for Pres

[drewd1987]

Right on again Peter. Ultimately this will tighten up credit so people can't go into more debt.

Other than that

Peter, Bilderberg is real. There is a ton of facts out there you just have to dig them up.

You seriously can't believe they're that stupid, can you? The fed knows what it's doing...

[LoveAndLiberty1776]

thomaspainereturns. net/posts/pickpocket.html

The plan will succeed in part. The ruling elite will bring about the depression, but turmoil and unrest will get so far out of control that things will not be brought back into a neatly wrapped package for them. The world economy will not recover from the ruling elites manipulation of the economic systems the way they have planned.

W.B.W. Light-Rider

March 24th, 2009

[lovepeace360]

Schiff talks alot about investing in gold but he doesnt name any details. Like invest in goldmines or just buy pure gold?

[everst]

he advocates both. physical bullion and gold mining stocks. he often says that his personal portfolio is 50% attributed to gold stocks.

[jzmdi493]

Peter Schiff is a hero! We all need to thank him for warning us about hyperinflation. Soon all Americans who don't prepare will be broke. Read the articles and signup for the free newsletter at: Inflation . us

[myrelative]

"which has been championed by chris dodd in connecticut"...was that a hint?

[RoadKing1996]

As always great...

I'd really like a VBlog on the Commercial Real Estate market and what to do with commercial office/retail space with so many tenants leaving. Wait for Gooberment Bailout?

[Panpiper]

The gov should do absolutely nothing about the glut of office space. What needs to happen is for that space to become 'really' cheap, which is what will happen if the gov does nothing. This will ultimately aid US business in competing in a global economy, if the gov ever get's off their backs. The last thing the gov should do is something to artificially prop up the price of that space. That's just like FDR's policy of keeping food prices high in the 30's, while people were going hungry!

[shawner69]

I'm not convinced that this will occur right away but it does seem almost guaranteed within the next 3 years.

[DolphinFilms]

Thanks for the words of wisdom. Fav 5*****

[ncurran1987]

I officially love this guy now. I really liked him before but now I really really like him

[1514dustin]

Gerald Celente says the dollar was supposed to collapse in March. Because of the printing and more borrowing its been delayed for a while.

[Panpiper]

Gerald Celente is good at understanding trends, that is what he does. But he is a statistician, not an economist, and most especially not an Austrian economist (I do not think he is anyway). It is a primary tenant of Austrian economics that as the economy is the sum total of all human interaction, and humans being the unpredictable beings they are, the economy does not lend itself to simplistic mathematical models, such as that which led Celente to predict a collapse in March.

[1514dustin]

Your right, but the trend of printing (counterfeiting) trillions out of thin air, tells me all I need to know.

The Worst Is Yet to Come, and If You're Not Petrified, You're Not Paying Attention.

[Panpiper]

Sometimes bankruptcy is a good thing. It is a sobering wake up call and forces one to get one's house in order. A possible side effect of a hyperinflation (leading to an inevitable default of the US gov debt) will be to effectively wipe out the debt. IF we then went to a gold standard, 100% reserve currency, the US would be well placed to begin a strong recovery. The trick to making that happen is to ensure there are enough people who have listened to the likes of Peter Schiff by then.

[kindlewaters]

good stuff pete

[CharlieWindar]

Does this mean there could be another bubble in the credit card market?

[Panpiper]

No. This has made it 'less' attractive for companies to give credit cards to people, not more attractive.

[CharlieWindar]

I guess I should have been clearer.

Peter suggested that the government might force the banks who got TARP money to keep lending. And any losses these banks incur will be paid for by the government, encouraging banks to once again recklessly loan money. Seeing as how the government is clueless as to why we're in this mess, this is a likely scenario.

Is this not a recipe for another bubble?

[Panpiper]

Ah, I see now what you meant. Yes, what you said is most emphatically a recipe for a bubble. That is in fact exactly what they are trying to do. The whole point of the Fed policy, the 'stimulus package', etc., is to deliberately reinflate the bubble. The gov sees the bursting of the existing bubble as being the problem and are doing whatever they can to keep a bubble economy going. The notion that bubbles HAVE to burst, is utterly lost to them. They really know nothing about economics.

[harveybirdmannequin]

I have a huge man crush on Peter Schiff. I'm not gay or anything but I would not stop his advances.

[panther9mm]

If you're not gay, then you must be in his cult.

[ceasey0xoogurl]

so what cult are you in?

[panther9mm]

I have joined the mikeydoggy cult started by Mike norman. He has a great video called "The Fed does NOT print money!", and have learned a lot from him. You need to join too.

I don't have any kind of crush on him, and I would stop any advances from him.

[ceasey0xoogurl]

hmm i'll look into it just to see how distorted that video is...b/c just the title is a complete lie

[panther9mm]

He thinks that the speculators might be causing inflation. I think we really need to help the speculators out cause the debt is too high, and if they are the only ones who can print money, then let them do it. LOL

[jzmdi493]

Peter Schiff is a hero for warning Americans about the hyperinflation that is ahead and those who don't prepare now will soon be broke. Read the articles and signup for the free newsletter at: Inflation . us

[ftorresgamez]

Peter is on to something (or he already knows): This "Credit Card Holder Bill of Rights" coming from Congress is nothing more than a scheme to have people get into debt even more, by basically guaranteeing lower interest rates than if credit card companies allowed the interest rate to float. Again, one of those "spending is what drives the economy" schemes that will work just as goooood as the last one . . . :-P

[Panpiper]

The gov forcing lower rates onto the market is literally price controls, which invariably cause shortages if too low (and surpluses if too high). The gov never learns. In this case it's actually a good thing as we are spending too much as is, but it will achieve the exact opposite of what the gov intended. It will reduce the number of people who will be eligible for credit cards and increase fees other than interest. People will ultimately spend 'less', not more as the gov intended.

[germana00]

Panpiper, the government, most likely, will not be "content" with just making sure credit card companies do not overcharge their clients. Once they realize what they perceive to be the "negative' impact of their policies they will proceed, as with the housing market, and provide guarantees so that everyone will be able to get loans regardless of ability to pay.

[Panpiper]

That's a good point, and you are right. There really is no limit to just how stupid that gov can be. They could indeed pull a stunt like that, either by creating direct subsidies (inflating the money supply) or forcing the credit card companies to operate at a loss (setting them up for nationalization when they inevitably go bankrupt).

[ftorresgamez]

"It will reduce the number of people who will be eligible for credit cards and increase fees other than interest."

Exactly. However, as always, Mordor, DC, will not see itself as the cause of this, instead blaming the credit card companies for "unfair" practices that are nothing more than market responses to these restrictions. Somehow, the Free Market will be blamed, yet again.

[ceasey0xoogurl]

seriously thanks for these videos...hopefully more people will be viewing these

[christo930]

If the Chinese market has a boom, wouldn't that be a good thing for the American economy? Wouldn't the Chinese like to import American made goods?

[ceasey0xoogurl]

What is America making to export?

[ftorresgamez]

"What is America making to export? "

Uh . . . ACORN activists?

[ceasey0xoogurl]

I wish

[christo930]

Cars, movies, music, software, fashion, construction equipment, mining equipment... America is not the manufacturing powerhouse we once were, but we do still make stuff and if the market opens up businessmen here will try to meet the demand.

Do we really believe the US will remain idle if the opportunity is there?

[ftorresgamez]

Especially building equipment. Interestingly, Jim Rogers said that the future belongs to the agricultural business, so farming equipment (which the US still builds and at very high quality) may be the exports of choice for many companies. John Deere and Caterpillar will rebound especially in their export market. Food will be also a good export commodity. BUT, all of this PROVIDED the evil Cap and Trade scheme is not implemented - otherwise, get ready for REALLY Great Depression, Version 2.0

[christo930]

If other countries don't follow it, I'm sure we will drop it. The cap n trade thing was tried with CFCs and it turned out to be faster and cheaper than anyone predicted. I also think there is going to be a boom in new energy technology. Many experts now believe the world is past peak and lowering our oil consumption is essential.

To think there are almost 3B consumers that are going to want to drive in the coming decades and we are past peak oil production is scary! Price and supply problems.

[Betty5150]

I've always wondered, what's so great about a depression?

[wdiaz03]

Betty, Is like asking what so great about withdrawal symptoms, In one hand they are not pleasant because they are painful, on the other it means you are recovering from the dependency.

[panther9mm]

The rich people in the future will not be the ones who ride tractors. That is just a job. Agricultural business is still a part of wall street, and in the future it will just get larger. Money is always made in ownership of companies, not in a job. Jim Rogers is exagerating

[ftorresgamez]

"The rich people in the future will not be the ones who ride tractors. "

Jim Rogers said the agricultural business, not that we would be all driving tractors. What he is saying is that the service and financial industry is dead. With manufacturing going to Asia, what's left is the food growing industry.

[wdiaz03]

Christo, I would take movies, music, software and fashion off your list. China is the biggest violator of intellectual property in the world, Everything gets cloned there, they'll probably import just one car then clone it as well. As long as they have cheap labor, not gonna happen, they might just take our natural resources, Suck us DRY! :)

[christo930]

This is one part of Schiff's investment strategy I don't understand. The Chinese government has been much better with the financial reforms, but they have a terrible human rights track record. I think investing in China still holds the risks with the hard liners over there who are becoming increasingly turned off by the westernization of China.

The reformers may very well win out in the end, but it's still a risk.

Do you guys think it's less of a risk than I see?

[wdiaz03]

My guess is that he is taking the lesser of two risks, by that I mean he knows our collapse is imminent, so he is bailing out to another market who is also a risk but less of a risk. Is like being on the middle of a bridge with a train approaching, do you take the risk with the train or jump to the dangerous river below. He knows that staying is virtually suicide and he is taking the risk of being a good swimmer with a lot of luck!

[panther9mm]

For the US to export more to other countries, the dollar will have to fall a substantial amount, but as the dollar falls, and the us becomes more competitive, the other coutries will lower the value of their currencies. It is like a race to the bottom. You will have to expect inflation in all currencies.

[panther9mm]

Actually I think we are going to export people. Look at the tax situation. First wave it will be the rich, second wave it will be the smart.

[ceasey0xoogurl]

haha that's actually a good point

[rafflespeko]

americans pay far less tax than anyone else from a rich country. one of the reasons your gov. has to print money and over sell bonds. you dicks elect people who promise you the world... and to lower taxes. you cant have both and you are ending up with neither.

[ceasey0xoogurl]

no shit. but not everyone are "dicks" more like idiots and what country is "rich?"

[MarcusCMarcellus]

He nails the new American business cycle: liberal gov. reg - markets respond in manner gov. did not foresee - gov. reg. to fix problem gov. created, making everything worse - print to devalue. Repeat...

[nogl0001]

clarity. ahhhhhhhhhhh.

[BlueSkies360]

Imagine a Chinese farmer or a factory worker working long hours for a couple dollars a day, saving 50% of their income to subsidize American consumption. That has to change.

[orlean06]

Obama went to a Black Liberation Theology Church. They believe in zero sum economics, America's wealth is Africa's burden, I believe he is intensionally destroying us.

[ceasey0xoogurl]

Yeah, its a shame how easily people were manipulated into voting for him

[scienterprize]

Rally Gold!

[delatroy]

nice talk, nice shirt

[JurkoffJay]

I think Peter Schiff is an alien... anyone with me on that?

[kenandjasha]

haha funny but man seriouslyl I have wondered on several vids his eyes are freakin me out for real!

he speaks the truth though

[JurkoffJay]

Yeaaah dude!

You noticed that too! I think those are his gills breathing through his eyes like Men in Black. He has a green body under that shirt he has on.

I'm not saying he's a bad Alien though.

[wcarlpdrysdale]

that's y-- t---- doing that ,,, it's not real

[alex3914]

You're a godsend Peter!

Your credibility will be major soon...haha, but hey, not like it already isn't!

You've been spot on!

[briandrews15]

The way you speak, you make economics seem like the answers are obvious. And it should be, the basic laws are very simple to understand. My question is why do you think America's leaders ignore economics and do things that will harm us? Are they ignorant, evil, or just plain stupid?

[capaneo]

Cause what they care about is the next election. Because the truth is not pretty and they wont get re-elected by most of average American voters.

[alex3914]

It's because our leaders are aren't working for the American people and instead they are working for the Bilderberg Groups agenda to bankrupt our economy so they can offer their solution of a new global currency or maybe the Amero in the midsts of the Insane depression.

The American people will be begging for a quick fix to this mess, and that's what they are counting on.

If we don't accept their constitution threatening solution then we'll be in a depression for a decade or two.

Let's see.

[Panpiper]

I believe it's because our politicians truly are clueless. Economics as is taught in universities is the most obtuse mess imaginable, virtually nobody understands it, including most of the teachers. Austrian economics is not so much as mentioned. Anyone looking at Keynesian economics knows 'they' will never understand it. So the politicians trust in their soothsayers who interpret the occult signs and we wind up persistently in one mess after another.

[VeniVidiVid]

It could be all three reasons.

[marniespeaks]

100% on housing

!00% on credit cards - However, the only problem with credit card spending is that people are using them mostly to buy food, pay utilities and medical bills - what do you suggest Peter?

Vlog.

[Panpiper]

If Peter is right and hyperinflation is on it's way, your debts may be pretty much wiped out by the inflation. As long as you have a fixed rate mind you. If the inflation rate winds up being 1000%, expect your credit card to have an even higher interest. Do what you can now, to consolidate whatever debt you have in a fixed rate loan.

[marniespeaks]

There was a women on PBS a few weeks ago, forget her name, her advice was lock into a fixed rate and pay only the minimum.

Though I think the economy would be in better shape now if Obama gave everyone across the board a banking day on credit cards than bailing out the banks. We'd still be in debt, but most people would start saving, those who are hording would start spending, and business would expand

big mistake to allow these corporate crooks to take it all

[fantasyfootballgod]

Amen! Thank you Peter, these videos are great

[wykydron89]

RUN FOR SENATE!!