Peter Schiff On Fast Money 11-16-09

[RyanB0011]

Fuck these fast money fools...all they fucking look at are charts and numbers they can't see past their fucking dicks for the life of them and look at underlying fundamentals in the economy as to why growth is occurring.

[rmccay88]

@jaguarclaw

I don't know where to start. No, Hoover did way more then you what you said and that was the problem and why he made a bad situation a whole lot worse. The only thing FDR pathed the way to is our country not being able to afford all his entitlements that he enacted that are now coming home to roust. You obviously know very little about Austrian theory because that's not what they say at all about the Great Depression ending.

[rmccay88]

@jaguarclaw

What are you talking about? Schiff advocates Austrian Economics which has nothing to do with what Greenspan did. I have no idea where you got in your mind saying he is like Greespan. That would be the equivalent of saying FDR supported free markets and non-intervention.

Hoover was not for free markets! Reread your history and look at how much he intervened into the economy. Murray Rothbards book on The Great Depression debunks the myth that is popular, that Hoover did nothing.

[deltapunk21]

This bull market doesn't exist the dollar is down and these idiots about igoring the reality.

[lolongo]

Wait, did Peter suggest to buy Chinese real estate? Thats a bubble waiting to pop.

[aceflashheart]

I can see this clip going into the next 'Peter Schiff was right' montage when the market collapses again -_-

[82markyboy]

Let Peter talk you morons. Always cutting people off who say other than what the mainstream media says. Peter is an economics god.

[GoldenBoughTrader]

2:40 Peter could have and should have chopped Seymour off at the knees here. I don't know why he didn't. He simply had to say what he's been saying all along. It's goverbnment intervention that has caused this problem in the first place. More government intervention is only going to make the problem worse. Peter has said this himself many times. I don't know why he didn't give tim Seymour both barrels. My 2 cents as an armchair political advisor.

[2Plankah]

Are these tools still laughing at Peter? The more these guys talk the deeper their hole gets and Schiff very often get the last laugh!

[mcwonderboy]

peter schools these phonies once again.

[psychosaint87]

"Is he still with us?!?!" o_O It's hard to believe that these people finished high school...

[GoldenBoughTrader]

I know. That was some rude middle school bullshit. Very juvenile.

[Eric21ND]

what morons

[nuclide]

Definition of INSANITY = CNBC

[panzerny]

these retards laughed as well when Peter Schiff was telling them 3 years ago that the recession is just behind the corner. And ppl still listen to these shitheads. When Americans find out that socialism sucks you will be well into another stone age.

[xFIRSTMERITx]

I don't get why people want to price the DOW in gold......Gold has decoupled from the dollar....WHY? there has been a decline in production since 2001.........

[Rustyshackleford08]

That was awesome

[mascar33]

Those lightweights on CNBC will never survive whats coming.

[30percentplusreturns]

I have to say, these fast money traders made themselves look like fools. Schiff once again has to school them. Did you hear that trader say the market is going up even after schiff told him its going down relative to gold. He still didnt get it!!!!! It unbelievable how stupid these wall streeters are. Ive been buying gold since it was at 650 and everyone said i will go bust. Here I am, a 29 year old that turned 60k into 120k already, and its still going higher.

[sysopkc]

hey stick with it and you will see even more, we trade currencies here in Miami and let me tell you, these Euro rallies are insane. Its going to 1.60 soon. Hell just look at the chart. You cant listen to television, its all just bullshit.

[30percentplusreturns]

The euro rallies are insane. Check out mike maloney's youtube video on gold going to 15k an ounce. Its shocking and he has all the facts to back it up. Gold breaking 1k is just like the dow breaking 1k in the early 80's. This party is just getting started. All confidence is breaking down in the system daily. The American people dont trust obama and his policies and are slowly running for the exits and gold. Its sad but their is no confidence in this country.

[sysopkc]

Totally, I hear you 100%. I ve been watching it on netdania and Track N Trade. I feel like right now the roller coaster is just being pulled up the first big track. Your right, people are just getting anxious the world over about all this. And yeah your gold play is going to have some downs BUT over the term, Oh it will totally explode. Im just happy that SOMEONE is actually jumping on board and is in the right camp. Because we will have to pick up the finacial pieces when this is over.

[AgainstTheOligarchy]

I stared back in 97 as well, here I am 31 years old and still buying gold :)

As far as the fast money traders I really don't think they are dumb, I just think they have no principles and have go on with the propaganda their masters ask for.

[2uberu]

"You might make money despite yourself" LOL

[dleddy14]

These gumbas are so stupid. Go Peter!

[BlueTunisia]

***** Peter Schiff was Right AGAIN *****

Peter Schiff for Senate 2010!!!

[TheBlueBlazer2005]

"That doesn't make sense, the market is going up." durr durr durr. And will somebody at CNBC tell that one guy to cut off his rat tail. It's impossible to take anyone with a bald mullet rat tail seriously.

[britishjohn04]

Amazing how they cut him off when he says something uncomfortable...

[michaelpshipley1]

peter google cocked those beehatches.

[pismo10]

Silly show

[thewhammy]

Why are you putting unrelated phrases in your description and tags? This sort of corny crap has to stop. "Inside job" ? MSNBC? Jim Rogers? WRONG. 1 star. I encourage people to start voting down videos that pull this garbage.

[planetcave]

I love the advice from the Wall St. Hucksters aka Stock"make me"Broker, buy into a Chinese real estate bubble. And then Mr. Econ 101 Man of the Hour aka Schiff states, "that the Chinese can't buy our debt and consume at the same time." Really??? Has he ever heard of the carry trade?

[planetcave]

Only in America- where a stockbroker has more credibility than the President of the U.S. Turn the football game off with all of this nonsense about your side and my side. Look, these Central Banks that control the global economy are all in bed together. That phony economy that Schiff is referring to just generated $30 Billion in bonuses for Goldman Sachs et al. I'll take phony($30B) you can have the baloney

[spijker99]

"There are two ways to conquer and enslave a nation. One is by sword, the other is by debt"

China knows exactly what they are doing....

[BlueTunisia]

Strong words, Spijker99.

So true, too..

[spijker99]

Cheers,

Yes, Peter Schiff really knows what is going on, but he only makes a mistake by thinking it is better for China to let go now, then to let go later. I think China knows the whole thing is going to collapse sooner or later, so why not building/extending your base economy for as long as you can keep up? WHEN the whole thing collapses later, you will maybe have a severer collapse, but this will even be more true in the West, and China's starting point to rebuild will be much stronger.

[thomasst2]

I agree. A key factor, I think, determining how things play out is continued acceptance of dollars as payment for oil/goods by US supported Middle Eastern Govts and commodity producing countries in Central/South America and Africa that have been dollarized by the IMF/World Bank. If they stop tomorrow or are gradual, the world will follow. Iraq and Iran have initiated a trend of dollar-less commodities. If Russia/China protect them as they switch and they agree, the dollar will fall.

[jaric82]

What is also disappointing is that after half of a century of cold war American leaders still don't understand communism. Communists are not normal partner or opponents, this people are able to take risk and use desperate measures unimaginable for a man raised in western society. The final result is that they will act (dump dollar), when it will hurt you most.

[spijker99]

Also, a collapse will create so much social onrest and will be so dangerous for world peace, China better uses this extended time to reinforce and strengthen their army ...

Just my thoughts

[jaric82]

I completely agree with you spijker99. From Chinese point of view it is beneficial to keep situation as it is. We can't forget that they see USA as main, global competitor. So they are very interested in reducing US strength economically and in other ways. Its just ideal situation for them, when Us government is ready to do that for them, for some free goods, its so much cheaper than wage a war any way. Another advantage, is that during that process China toke over most of US industry.

[jake2625]

USDebtCLOCK dot org

$12,000,000,000,000.00

[wunderbeast]

"what are you gonna do?" that's always a tactic of taking attention off the fact that you don't know what you're talking about, which is what this idiot did. go schiff go!

[portlandore]

Peter Schiff has forgot more economics than all of those idiots will ever know.

Peter Schiff would make a great president!!!

[Thrice13]

Lol@ the guy who thought Peter Shiff's microphone was turned off!

[savemyplaylist]

I love when he rips through these morons and all they can do is kick him off... and they failed at even that!

[deni1985]

"It doesn't make sense! The market is going up!"

That's killer.

[TenderTrap86]

People always get so angry with Peter. It's hilarious. The truth hurts.

[bubbalouie99]

it's depressing to see the ponzi schemers at cnbc smile and pretend they know what they're talking about;

schiff has been spot on for years; i'll put my money with him

[MrEasyLife]

Melissa Lee needs to do another special on pornography since she simply does not get "Business". Of course, the men are just as bad. Peter makes s solid comment that they don't respond to. We tell the Chinese to buy our bonds and buy our goods. It's impossible to do both (unless you have someone like Bernie Madoff doing the accounting!). Oh well.

[bart12121314]

for years these 3 talking heads have been DEAD wrong, for years Peter has been right. I'll just stop watching these idiots, how much can you listen to morons who have been wrong all their useless lives???

[xhamlin]

"you might make money despite yourself". lmao!

[healthhavencom]

Apparently the next 'Peter Schiff Was Right' video is in production.

Stars of the new video? The entire cast of "Fast Money" (a.k.a. "How to go broke really fast")

Peter Schiff and Ron Paul rock.

[ASLAN2002]

I think at 3:18 Peter means to say that 'it only looks like stock are going UP'

He says down but that doesn't make sense...?

Anyone?

[xhamlin]

aslan, yes you are correct, he meant up

[ybd2]

You are correct. He mis-spoke. He ment to say UP.

[skliros]

yeah he made a verbal mistake.

[tickhound]

Melissa Lee is to economics...

what Sara Lee, is to economics.

[healthhavencom]

That's funny.

Reminds me of when Jeff Ross roasted Drew Carey and said... "Drew Carey is to comedy, what Mariah Carey is to comedy."

[tickhound]

haha exactly...

"Erin Burnett is to economics, what Carol Burnett is to economics."

[Boscovius]

Ha ha! Love it!

[afterniatis]

PETER!! U DA MAN!

[TheBlueBlazer2005]

"I got to interject some sense" lol

[TheBlueBlazer2005]

At least Fast Money is putting Peter Schiff on regularly ... Props for that. And props to IWontSellOut for the quick upload. Google "DOW priced in gold"

[TheFlex21]

he verbally smacked them then stayed around to smack them some more