California and other states should issue their own currency, and cities and regions should also issue community complementary currencies to ensure that wealth stays local for the long term. This is the only way to protect ourselves from the international banking cartel
@davidfsnyder Clearly you have been brainwashed by the fed and their friends in the government. Basically you have no understanding of how an economy works. I recommend you to do some reading on the subject instead of posting nonsense on YT channels.
@TWSceptic Not brainwashed, I read my history books. And I have no friends in the government. If you want to get rid of the Fed then you are for putting the US government into the hands of the giant banks, pure and simple. The Fed was made so that USG didn't have to be beholden to JP Morgan. But it's no skin off my back, I can continue to get wealthy off of people who don't know Econ 101, like you.
I think you're 100% correct that many californians "need" to save 10-20%...but I don't think they will.
I think Ben is just going to re-inflate the bubble (somewhat, not 100% like it was) and the big crash won't come until all those people who were suppose to save, didn't, and they're turn to socialism...cough cough I mean social security, and they'll fund it through inflation.
(then tons of people like myself who currently save 35% of their income will just go to another country)
i like Schiff, he understands the nuts and bolts of finance and the economy. there are very few who know how things actually work. we need someone to hold congress' feet to the fire BUT congress is about politics, not reality! how will he perform when there are 500+ congressmen all saying "you want that? ok, what are you gonna give me? i need a monument to myself and u want to cut its funding. SO Mr Schiff, what will you do for me!" thats how congress works, not based on reality at all!!!
@ciji916 You would need well over a hundred new companies that are as successful as Apple in order to save the country, you'd also have to cut entitlement spending. Even then that wouldn't be enough.
You're such a decent guy...what you really mean is the Feds are "lying through their teeth!!" They're pathological liars & the public WANTS to believe the lies.
Elected officials are afraid of the feds, so we'll going down in a blaze of disgrace!
The doomsayers will have the last word!!
Nothing's really going to happen except money from the masses will be stolen in broad daylight until the masses wake up, but by then it will be way too late to recover anything. System's too corrupt to be fixed!
Its international money laundering and insider currency speculation on a huge scale
They know exactly what they are doing. The FED is a privately owned INTERNATIONAL- corporation. NOT an American entity. Far from operating in our best interests the FED only serves to loot this nation
Our income tax goes to the FED to pay the interest they charge the US government
The IRS is the FEDs personal collection agency. Not a penny of income tax goes to fund government operations
Peter, please comment on exchange traded derivitives and their importance in the market as well as the value to their value to the un-invested in the market, single family dwelling owner, that's gotten no HELP from the banks modifications.
Ben Stein pointed out last week on Fox Saturday morning that he like Warren Buffet Berkshire etc. He said that Warren is heavely invested in ETD's. My respect for Warren Buffet just went way down. Especially if people continue to lose their homes.
BenB reminds me of this director of the Tsjernobyl nuclear reactor, who though he was conducting a personal struggle with the reactor. That the reactor was challenging or provoking him and he had to punish it or something of that nature. BennyB is struggling with the markets, meltdown is imminent
It makes you wonder if Bernanke and the FED know exactly what their doing. It's hard to believe they would be so illogical.
Maybe their trying to destabilize this country.
A terrified public makes a mailable public. In that case, the public would likely demand more government control of their lives.
Shoot, it seems like China is the primary stockholder of the US anyway - maybe the powers that be are just waiting to drop the one world government on us - right when it's easily justified.
personally i think these men know exactly what they're doing. and i dont belive that the dollar will be the major north american currency in the next ten years. think euro, except ours may be called something a little different.
@dncmachine463 Heh that was funny. But I have ruled out stupidity as the cause of what is happening. Everything happening is happening because very intelligent malicious people are responsible. The ones who do not fit that category though I do agree are stupid they are simply the puppets. End the fed!
"I see in the near future a crisis approaching that unnerves me and causes me to tremble for the safety of my country. As a result of the war, corporations have been enthroned and an era of corruption in high places will follow, and the money power of the country will endeavor to prolong its reign by working upon the prejudices of the people until all wealth is aggregated in a few hands and the Republic is destroyed."
- Abraham Lincoln, Letter to (Col.) William F. Elkins, Nov. 21, 1864.
"Our government has been for the past few years under the control of heads of great allied corporations with special interests. [The government] has not controlled these interests ... it has submitted itself to their control."
- Woodrow Wilson, The New Freedom, A Call For the Emancipation of the Generous Energies of a People (1913).
I could not agree more that there is no exit strategy. Bernake is just simply doing is best to make people think that the fed will take care of things when in reality this banking cartel has a complete monopoly and has had that monopoly since 1914. The Fed creates money and loans it out at interest. It should not be hard for all americans to realize that the money to pay this interest does not exist. Fuck The Monetary system! it produces greed, poverty, and pollution. It is ruining our society.
interesting, Peter never addresses the real cause of the crisis, "robbery" for 30 yrs, diversion of funds from the trusts, Leo Wanta, the robbery of the G8 settlement agreement. Bernanke, Paulson, The "Mut" and the rest of the boxer gang are just covering up the robbery,
why should he cut off his nose to spite his face? If he goes that route..."they" will take him off the air and who will be there to give us the tidbits of what's really going on....one has to be smart AND sensible not to piss of the powers that be...at least not too much!!
This guy is Completely right! Animal cruelty must stop! millions of defenslis animals are abused and trhe zombies will atack on day...bao marley will rise t5o be a politition.....and my nipples hurt from my 8 year old pitbull chewing on them!
We on the other hand, have everything to lose, our peace, freedom, wealth, our kid's future....everything goes down the drain from now on.... unless they reconsider these policies or people get fed up sending their kids to die, far away from home in some God forsaken desert. all for the profit of a few rich people.
Just read a book about the Bush family. What an elitist, self-serving, stupid, disconnected, detached, Nazi minded bunch of crackpot idiots. Unbelievable!! All of them need to be tarred and feathered. It speaks much of the resilience of America to withstand the onslaught of such horrible ruling families but who knows how much more we can tolerate. Is it too late?
The open, fair market was divised for people to buy and sell things.
The stock market is a con game in which the public is held liable for the greed and bad judgment of ethic-less board members and ignorant stock-holders.
You series of comments seem to suggest you are likely an hopelessly ignorant and poor socialist; or at best an anarchist whose jealously oriented views underscore the fact you have not achieved much; however, don't despair--- this country offers great opportunity for success even for those who would destroy it---including having to suffer a communist government now supposedly running the show from DC. One whose objective is to reduce the magnificence of this truly wondrous nation to rubble.
I don't want to destroy anything but the fundamentally unfairness of our economic institutions. For instance the I.R.S. and the so-called "Federal" Reserve...which is neither Federal nor reserved. These organizations were designed by private bankers. They have been bilking the national treasury for decades.
They are being exposed now, but soon they will privatize the internet, and shut down the most democratic mechanisms ever devised.
I apologize for no one. I don't like what has been going on since 1913 or with the post WWII invited nazi infiltration of our political structure (read Bush family & friends) or subsequent communist infiltration and now Muslim radical Dark Ages throwbacks. However, unless Obama & co are short-circuited, we do yet have the best economical, political, and governmental structure the world has ever experienced---bar none. Not perfect by a long shot; however, I dare you to show me a better one.
The NEOCON guru was Leo Strauss at the U of Chicago. Strauss came to America on a Rockefeller grant arranged by Carl Schmitt, the German lawyer for Fritz Thyssen, his business partner, Prescott Bush and...Adolf Hitler. Thyssen financed Hitler rise to power and Prescott was convicted of trading with the enemy during and after WWII. NEOCONS are fascists without the anti-semitism.
In 1934, a group of power conservative Republicans plotted to assinate President Roosevelt and then march on Washington with a private army of 500,000 veterans. The tried to recruit the highly respected Marine General Smedley Butler to lead the army. He exposed the plot and testified before the House UnAmerican activities committee. Nothing happened to the plotters. The plotters? JP Morgan, the DuPont, Remington & Goodyear fam. & Prescott BUSH. WAR PROFITEERS...ALL.
I do not know who invented it (must have come out of some "think tank" hired to find out how they can gain even more power and control over everything), but I have an idea who stands to gain everything out of this: the military industrial complex and all the corp. doing business with the gov.
We HAD the best structure in the world. The whole political and economic system has been co-opted by corporatism and cronyism. What we are seeing now is the beginning of the endgame of 50 years or more of irresponsible short sighted policies.
You're absolutely right---unfortunately for the country. Duped we are for so many years and it happened right underneath our noses. Imagine---just a few years ago the CFR, Trilaterals and Bilderbergers DENIED their own existence. The old Spotlight paper reported all that jazz and they ran them out of business. How is it David Rockefeller continues to live? Could it be hi-tech robotics?
My hat's off to you Mr. Schiff. You are definitely a smart, smart man. I only wish that those who are in power would listen to you and the others more than they do.
the fed has deceived America into willingly stepping into a big ol bear trap.
more tax coming soon folks, the good news is Hillary's visit to India and their big new "gun supplier deal". that should pad our masters throne for a couple weeks.
so bottom line where does this end? no one is going to save unless this is forced upon them we have lived in a spend all mode for too long to give up our stuff without a fight
CA has taken over the news for the faultering economy out there. Here in MI, I think we and the media are just used to it by now. I know so many laid off people I can't believe it. Property values have dropped 60-80 percent. Six foreclosures in my block in the last 18 months.
Great video, saving for yesterday and tomorrow is going to be tough in a depression but it's not impossible. Be smart people and don't spend money unnecessarily. Do it yourself will be the name of the game, and innovation.
A lot of you Schiff fans are still asleep. Research the New World Order, Rockefellars, Rothschilds, Federal Reserve, Trilateral Commission, Commission on Foreign Policy, the Bilderburg Group. Learn what is really going on.
Exactly. It's like Schiff has no clue about the NWO agenda. It's not bad policy, it's all planned. The US economy is intentionally being dismantled. Stock up and prepare for the greatest depression.
Do states pay federal income taxes? But, I agree with what you're saying. Give power back to the states as the Constitution intended. I don't think the federal government will do this as their ultimate goal is a one world government.
His explanations are so helpful. My only concern is the inscrutability of Fed deception. Peter's argument in this video is that Bernanke cannot "exit" the current monetary policy because he is watching the CPI, not the money supply. But just because he testifies to Congress that inflation = rising consumer prices, doesn't mean he truly believes that. After all, wasn't he the one testifying that the economy was sound and the banking system was solvent? He knew full well those were lies!
This is another example of Peter's way of making complex issues understandable for economic dummies like me. I've read his books and have total faith in his honesty. I'm invested with his firm and hope his bid for Dodd's Senate seat is successful. We need some honesty in Washington.
hey peter i saw this post on another of your videos. it's a great idea: You know how people complain about CNBC being biased and pretty much full of crap? Well you should create a financial channel (not just a show on a socialist tv network) with guys like Marc Faber, Jim Rogers, Celente, and yourself as the "reporters". You know, a REAL financial news channel. (Like you have nothing else to do huh?)
the fed is not the problem the president is. he could fix things easily but is trying to make things worse. more then half these guys in his admin are from Israel. his financial admin is ceo's from failed or future failing banks. most politicians are paid for in congress.
unless WE THE PEOPLE go to war with the people running this country in the ground, like we did many years ago, thing will never change except for the worse.
We have another term for "exit strategy" at the building where I work; it is called a "fire plan"; that is, we need to know where the exits are so that should the building accidentally catch fire we can make it outside to safety. We don't intentionally set the building on fire, as Bernanke and Obama are doing with the economic building, just so we can use the exit strategy. If the fire should get out of control and spread quickly we might not be able to make it to the exit.
Schiff for Senate. I've already donated from Minnesota!!!! Those who want Schiff in office should also donate to Rand Paul in KY and Adam Kokesh in NM!
if all criminals were to be dealt with philosophy and debates, we wouldnt have prisons anymore! the FED is criminal to the bone and should be dealt accordingly!!!
You touched on restaurants - I thought it was funny, due to an experience I had recently.
I have been seeing these restaurant deals offering curbside pick-up, and meals under ten bucks. So I went to Outback Steakhouse on Sunday hardly any-body there. The girl was extremely nice she treated me like a King either she was desperate for a tip or she actually liked me Gigity.
The flipside is that customer service for people who have money seems to be improving.
captain bernanke says if the our economic submarine starts to sink due to inflation, he can get the submarine back to the surface by pumping air into the ballast tanks.
he can get the air in two ways: sell bonds or raise interest rates.
the problem is, you need someone with savings to buy bonds. americans have no savings and foreigners dont want to buy any more.
raising interest rates is like taking the air from the crew compartment, cant do that either.
Peter's Analogies are completely on target. I think his next book should be Economics for Dummies and give Bernanke,Paulsen & Greenspan a discount. Problem is those guys are doing it purposely & must be operating under someone else's direction. The question is who?
If my thinking is right, todays close marks the longest rally in the market in the last 36 months. Looks like the US market is healing. But then again- I dont know...Seems like its healed to fast.
The market is not a leading indicator of economic activity. The market can be made to go up or down by Goldman Sachs and JPM, both of which are "fed" banks. I predict the Dow will reach 9800 and this will be a good time to go short.
Peter's run for Senate reminds me of a character from Ed Cline's amazing pre-Revolutionary War series "Sparrowhawk", Dogamel Jones. Jones was an English attorney who got a seat in Parliament (representing Baron Kenrick of Danvers), and in the series, the only man to vote against the Stamp Act. He was pro-Colonal but, unfortunately, vastly outnumbered and unable to change the course of history. I hope I'm wrong. Good luck.
Peter one flaw with your logic in nominal gains in the US stock market is this. Sure the dollar is going down and yes that effects the exchange rate with foreign currency but that doesn't mean anything to the prices here at home.
China's currency is pegged to the dollar so stuff at walmart isn't going up.
Food is produced domestically for the most part so exchange rate will not affect this.
The only item that will inscrease as the dollar goes lower is gas. This is not a big deal to me.
Oh. Enjoying your 5 cent movie tickets still then are you?
Inflation of a currency devalues the currency relative to everything dude... not just relative to other currencies. And even domestically produced food needs to be trucked. You pay for gas whether you drive or not.
No I don't see how the value of the dollar relative to the euro or yen causes movie prices here in America to go up, or food or anything else. Maybe that mercedes benz you've always wanted will be more expensive but thats about it. If you can explain that to me I will be all hears.
And on to the price of gas. Think about it like this ( these are not real #s) , truck a has to drive 200 miles to deliver its 750 loaves of bread. The gas for this trip costs 100 dollars. Each loaf of bread costs 1 dollar to make and ship. So 7 cents of this was spent on the gas used. Ok so now price of gas doubles and instead of it costing 1 it costs 1.07 because of gas. Are you smelling what i'm cooking here? The price of gas has very little to do with consumer prices.
Also the weakness in the dollar has 0 effect on the price of rent or home ownership in the USA.
The point I guess I'm getting at is that my focus is on what I need to survive and live decently. I don't want to drive foreign cars I don't spend money I don't have. My focus is on me and mine eating and having a roof over our heads. And the weakness of the dollar really doesn't effect that at all.
I applaud you for setting your priorities, but dollar weakness does affect you, and is only in your control if you are self-sustaining....produce your every need. If you spend dollars the dollar weakness will affect you through devaluation and rising prices. There could even come a point where the dollar collapse will mean no one will accept dollars in exchange for goods at any price.
i do see where you are going, but instead of just talking about gas price we need to look at all energy cost. such as electricity the price of the coal or any other energy source. i work in a grocery store and i saw some of the prices rise rather quickly last summer. when gas prices where at nearly 4 dollars here in texas.
Inflation's hard to describe in 500 words but I will try. ShaneDK has a fantastic video on it if you'd like.
Dollars are a good like any other good. Their purpose is to serve as a medium of exchange. If I have 100 widgets and 100 dollars, all other things being equal, each widget is 1 dollar. If I now print 100 more dollars, each widget will now be worth 2 dollars. This is inflation. This is a crude example, but the basic idea. Like I said, check out ShaneDK's video "How Inflation Works."
I think that you might want to substitute the word "cost" for "worth". By doubling the money supply no new worth (value) was created in the widget (the widget is still the same widget it was before the currency was printed; there is no new improvement in the widget). However, the value (purchasing power) of the dollar was diminished. Now, it takes two dollars to equal the value of the one dollar before the printing. So, prices rise (cost more).
Sure. Worth, cost, value, these are all subjective things. I consider them almost interchangeable, but I guess there's a subtle difference. Cost is a better word than worth. What's really important is that he understands that currency is a product like any product, one the government just happens to have a monopoly on. It varies compared to all other products just like food, widgets, and beads do, not just to other currencies. If he gets that maybe he'll exchange his dollars for real value.
Unless you give the newly made money to the people who can buy the widgets, the price will not increase. How much money have you received from the billions in bailout? Until the government starts giving away more money than is being lost in job losses, we will not have hyperinflation.
hyperinflation always follows a deflationary environment. look it up. by the time rising prices due to inflation rears its head, the damage is done. Youre already on that slippery slope.
I've been doing research, and haven't located that little tidbit "hyperinflation always follows a deflationary environment." In fact, Japan has been in a deflationary cycle for 20 years. And, the Great Depression was deflationary. Please show me where I can "look it up."
Look at the price of a Big Mac over time. You might say, but wages went up at the same time. The porblem is they didn't grow as quickly as prices. The other thing you need to grasp is that as the value of the dollar decreases, our ability to outbid others holding stronger currencies is dimished. Eventually, we'll start losing the auction. You add both points together and you realize that the dollars you saved years ago have been robbed of their value.
The Big Mac theory you're describing is just plain inflationary. Keynesian economics is designed work that way. Hyperinflation is different as it utterly destroys currency. I'll say it again. Hyperinflation is impossible unless the government gives away a whole lot more money than is being lost by unemployment.
I agree, were not going to have hyper-inflation but higher inflation. High Inflation has been part of the problem, and we'll have higher inflation and a weaker currency but not a currency collapse or hyper inflation. Its a bad scenario just not as bad as some people think it will be.
Californians didn't think they had to save. Just make those payments as your equity builds for a few years then move to another cheaper state. That is how Californians save. Then they inflate the home prices elsewhere.
Well, if Schiff gets into the senate, he may actually get time with Ben. What will Ben do? What he always does. He'll talk slowly and take all of Schiff's alloted time without answering the question.
Great as always! No way California's going to cut its budget though. It will take every bail out and decimate the Californian economy before it does that, and then blame it on the free market. Governments are cancers. They do not voluntarily shrink.
Star, California Will be FORCED to Legalize Marijuana.
1 Billion Dollars in Tax Revenue's each year.Marijuana is Californias number one cash crop, according to federal estimates, worth double the states vegetable and grape crops combined or about $14 billion a year.
I mean DEA Law enforcement Just confiscated $17 BILLION Dollars of Marijuana.
Sure, that's great. But legalizing marijuana will not fundamentally reduce the state's power, nor its spending. It will take away one of their excuses for doing violence, but the violence will continue under other justifications. Marijuana taxes will just give them new revenue to consume. They will continue to maintain or increase their spending regardless of the economy, just as our Federal government is. Legalizing marijuana's great, but it certainly won't save the Californian economy.
Hi Star, :) nice input, i totally vibe with you. May i ask what state you reside in? Are you on the West coast?:
Im in the Slave states, Georgia to be precise, and i do mean a Slave state. We have the largest bank failures to date, No labor rights, One of the Largest Unemployment and crime rates, and we Almost RAN OUT OF WATER last year!!
I'm from Massachusetts :-p I'm surprised this state isn't collapsing faster than California. We will certainly be 2nd.
There is nothing that can "save" California. If the legislators decided to cut spending it could help, but what would they cut? Health care? Pensions? Police? Bureaucrats? Unions would strike, protests would come up. It's impossible. The state has to collapse, and the utter inevitable world of suck has to ensue. After the chaos, maybe something sane can replace it.
I have. My dad lives in New Hampshire actually. The problem is, while lots of libertarians are moving to New Hampshire, an even greater number of liberals are moving there from Massachusetts to flee the high taxes. Of course, on arriving, they vote to raise the taxes. This is why I think Obama won it this past election.
I admire the free staters, I just don't think it can work. I don't think voting can shrink governments any more than it can shrink mafias. But yes, some day I intend on moving!
Its such a sad state of affair... I am actually going to follow my heart and move to San Diego California. Oh my goodness, its so unbelievable on the West Coast. I dont know if you have ever been their but the Spiritual Hippie vibe is so totally rockin' and the Beaches, and the food and the cool grooves. So totally cool.
I also have heard that Boston is such a vibe, too, with the local communities and Concerts.
Well dear friend, Peace and Love to you, and hope your life stays groovy :)
The Federal Government overruled them on medical marijuana, so I don't see California legalizing it completely. Even if they do, they'll be overruled. The 10th amendment is ignored, which is why Texas wants to secede.
I support the green tech revolution, however I dont believe that it will impact the economy significantly. I think the best thing California can do is downsize its government and legalize marijuana and not tax it, let the people keep the profit.
The industrial and medical uses for hemp and marijuana far outweigh the "perceived disadvantages". I don't even smoke pot but I fully support its legalization. I also believe that government taxation never supported the economy and taxing it would mitigate many economic improvements. I think the only reason it is illegal is because of the social stigma created by hokus-pokus government propaganda.
There is a tax on everything and they'd tax marijuana. There are other benefits like lower crime(no more black market for the product), lower law enforcement costs(half of all law enforcement money is spent on stopping the marijuana drug trade), etc.
California will allow more offshore drilling to generate tax revenues. Green energy is a red herring. As for marijauna being legalized - the federal government will not allow it as it will cut into their CIA and NSA revenue.
California and other states should issue their own currency, and cities and regions should also issue community complementary currencies to ensure that wealth stays local for the long term. This is the only way to protect ourselves from the international banking cartel
BoricuaChiTown 4 months ago
Ending the Fed would be a disaster. Look up why it got created in the first place. Hint: JP Morgan Chase will own your *ss, literally.
There is no inflation being created by the Fed. But it does have a debt mess that it needs to clean up before it eases up the easing.
Another way to save is to generate more revenue. Schiff's ideas would drive us back into feudal society.
davidfsnyder 10 months ago
@davidfsnyder Clearly you have been brainwashed by the fed and their friends in the government. Basically you have no understanding of how an economy works. I recommend you to do some reading on the subject instead of posting nonsense on YT channels.
TWSceptic 3 months ago
@TWSceptic Not brainwashed, I read my history books. And I have no friends in the government. If you want to get rid of the Fed then you are for putting the US government into the hands of the giant banks, pure and simple. The Fed was made so that USG didn't have to be beholden to JP Morgan. But it's no skin off my back, I can continue to get wealthy off of people who don't know Econ 101, like you.
davidfsnyder 3 months ago
@davidfsnyder Trust me, you will soon find out how wrong you are. :) I'll remember to post a reply here.
TWSceptic 2 months ago
and the rich take more, and the fools who don't unite get less.
tomitstube 1 year ago
great points. i guess people have to work for money, not your house.
itsjoeedinger 1 year ago
THIS KIND OF BAD INFORMATION IS TYPICAL PARANOID PROPAGANDA.
WE CONTROL YOUR WORTHLESS LIVES BECAUSE WE CREATE ALL THE PROFIT.
YOUR PATHETIC CONTRIBUTION TO GLOBAL WEALTH MEANS VERY LITTLE TO US.
WE CONTROL THE MONEY, THEREFORE WE CONTROL YOU, THE MINDLESS AMERICAN MASS CONSUMER.
IT MATTERS VERY LITTLE WHAT YOU THINK WE'RE CONSPIRING BEHIND CLOSED-DOORS.
GREED?? BLAH!
PRATTLE ON ALL YOU MINDLESS CITIZENS..
ALL THAT MATTERS IS THAT YOU PAY YOUR INCOME TAXES AND OBEY US, YOUR NEW CORPORATE RULERS.
CorporateRule 1 year ago
End the fed they are fucking with the world, DO IT NOW
Thumper396396 1 year ago
I think you're 100% correct that many californians "need" to save 10-20%...but I don't think they will.
I think Ben is just going to re-inflate the bubble (somewhat, not 100% like it was) and the big crash won't come until all those people who were suppose to save, didn't, and they're turn to socialism...cough cough I mean social security, and they'll fund it through inflation.
(then tons of people like myself who currently save 35% of their income will just go to another country)
RikaKazak 2 years ago
i like Schiff, he understands the nuts and bolts of finance and the economy. there are very few who know how things actually work. we need someone to hold congress' feet to the fire BUT congress is about politics, not reality! how will he perform when there are 500+ congressmen all saying "you want that? ok, what are you gonna give me? i need a monument to myself and u want to cut its funding. SO Mr Schiff, what will you do for me!" thats how congress works, not based on reality at all!!!
sw8741 2 years ago
Us in CA are gonna legalize weed. Will that save us?
ciji916 2 years ago
@ciji916 You would need well over a hundred new companies that are as successful as Apple in order to save the country, you'd also have to cut entitlement spending. Even then that wouldn't be enough.
DimeLivesInUs 1 year ago
common sense isn't all that common. At least the sky isn't going to fall, just have to live with less money in the future
Seano71 2 years ago
after the T-Bond crisis, and the currency crisis...
much less money.
davematherly 2 years ago
You're such a decent guy...what you really mean is the Feds are "lying through their teeth!!" They're pathological liars & the public WANTS to believe the lies.
Elected officials are afraid of the feds, so we'll going down in a blaze of disgrace!
The doomsayers will have the last word!!
Nothing's really going to happen except money from the masses will be stolen in broad daylight until the masses wake up, but by then it will be way too late to recover anything. System's too corrupt to be fixed!
Aprize0 2 years ago
benB is only a frontman...
kotpet 2 years ago 4
is there any hope?
djindox3 2 years ago
End American empire before it's too late!
TheFutureUnquiet 2 years ago
Its international money laundering and insider currency speculation on a huge scale
They know exactly what they are doing. The FED is a privately owned INTERNATIONAL- corporation. NOT an American entity. Far from operating in our best interests the FED only serves to loot this nation
Our income tax goes to the FED to pay the interest they charge the US government
The IRS is the FEDs personal collection agency. Not a penny of income tax goes to fund government operations
It's a huge scam.
TruAnRksT 2 years ago 3
Peter, please comment on exchange traded derivitives and their importance in the market as well as the value to their value to the un-invested in the market, single family dwelling owner, that's gotten no HELP from the banks modifications.
Ben Stein pointed out last week on Fox Saturday morning that he like Warren Buffet Berkshire etc. He said that Warren is heavely invested in ETD's. My respect for Warren Buffet just went way down. Especially if people continue to lose their homes.
joescarafone 2 years ago
BenB reminds me of this director of the Tsjernobyl nuclear reactor, who though he was conducting a personal struggle with the reactor. That the reactor was challenging or provoking him and he had to punish it or something of that nature. BennyB is struggling with the markets, meltdown is imminent
modelmark 2 years ago
This has been flagged as spam show
modelmark - Wonder why he has not mentioned this?
CAFR1/dot/com
google video by: Walter Burien
"Governement Wealth
ngonea 2 years ago
It makes you wonder if Bernanke and the FED know exactly what their doing. It's hard to believe they would be so illogical.
Maybe their trying to destabilize this country.
A terrified public makes a mailable public. In that case, the public would likely demand more government control of their lives.
Shoot, it seems like China is the primary stockholder of the US anyway - maybe the powers that be are just waiting to drop the one world government on us - right when it's easily justified.
rocketeer88 2 years ago
personally i think these men know exactly what they're doing. and i dont belive that the dollar will be the major north american currency in the next ten years. think euro, except ours may be called something a little different.
1gnoramus 2 years ago
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Peter Schiff 4 Senate Moneybomb TODAY
s c h i f f a t h o n . c o m
(spread the message)
BlueSkies360 2 years ago
Peter Schiff has to much common sense for those in Washington to understand haha
dncmachine463 2 years ago 26
hahaha so true so true
vict0ria7130 2 years ago 2
yea thats exactly because hes not in washington... if he were i would have to wonder how much schiff's words would change.
1gnoramus 2 years ago
@dncmachine463 Heh that was funny. But I have ruled out stupidity as the cause of what is happening. Everything happening is happening because very intelligent malicious people are responsible. The ones who do not fit that category though I do agree are stupid they are simply the puppets. End the fed!
ThePopeAndy 1 year ago
When we get piled upon one another in large cities, as in Europe, we shall become as corrupt as Europe.
~Thomas Jefferson
jacoff1973 2 years ago
"I see in the near future a crisis approaching that unnerves me and causes me to tremble for the safety of my country. As a result of the war, corporations have been enthroned and an era of corruption in high places will follow, and the money power of the country will endeavor to prolong its reign by working upon the prejudices of the people until all wealth is aggregated in a few hands and the Republic is destroyed."
- Abraham Lincoln, Letter to (Col.) William F. Elkins, Nov. 21, 1864.
elitebanktyranny 2 years ago 3
"Our government has been for the past few years under the control of heads of great allied corporations with special interests. [The government] has not controlled these interests ... it has submitted itself to their control."
- Woodrow Wilson, The New Freedom, A Call For the Emancipation of the Generous Energies of a People (1913).
elitebanktyranny 2 years ago 4
end the fed! look up ron pauls audit the fed bill. we need to get these bastards shut down and in jail.
Mr911insidejob 2 years ago 18
they should be shot. we should as the people of the world not just USA but all the world should stop using there illeagl money.
Alucardthedeadone 2 years ago 4
Great analogy with the shower heat. Perfect metaphor for what is going on. Good cast
EddyvanIke 2 years ago
THE CREDIT MUST FLOW!!!
cvcdgftr7676545 2 years ago
Schiff2010. Money bomb 8-7-09!!! Help Peter kick sweetheart Dodd out of congress.
bigddog11 2 years ago 2
I could not agree more that there is no exit strategy. Bernake is just simply doing is best to make people think that the fed will take care of things when in reality this banking cartel has a complete monopoly and has had that monopoly since 1914. The Fed creates money and loans it out at interest. It should not be hard for all americans to realize that the money to pay this interest does not exist. Fuck The Monetary system! it produces greed, poverty, and pollution. It is ruining our society.
breezeebruno 2 years ago
interesting, Peter never addresses the real cause of the crisis, "robbery" for 30 yrs, diversion of funds from the trusts, Leo Wanta, the robbery of the G8 settlement agreement. Bernanke, Paulson, The "Mut" and the rest of the boxer gang are just covering up the robbery,
worldreports/dot/org
theantechamber/dot/net
ngonea 2 years ago
You are correct.
immayhem 2 years ago
why should he cut off his nose to spite his face? If he goes that route..."they" will take him off the air and who will be there to give us the tidbits of what's really going on....one has to be smart AND sensible not to piss of the powers that be...at least not too much!!
Aprize0 2 years ago
only one problem, you can't eat either one and the gov will confiscate them again
ngonea 2 years ago
No exit, no strategy...heh.
I save 60% of my income. I am annoyed at every penny I can't save.
Leadwerks 2 years ago
This has been flagged as spam show
This guy is Completely right! Animal cruelty must stop! millions of defenslis animals are abused and trhe zombies will atack on day...bao marley will rise t5o be a politition.....and my nipples hurt from my 8 year old pitbull chewing on them!
theGuyYouHate01 2 years ago
good video, get out your gun; you will need it
wa1d 2 years ago 2
One of those involved in the assassination plot was Prescott Bush...the slimeball grandfather of the moron who just left office.
smujismuj 2 years ago
We on the other hand, have everything to lose, our peace, freedom, wealth, our kid's future....everything goes down the drain from now on.... unless they reconsider these policies or people get fed up sending their kids to die, far away from home in some God forsaken desert. all for the profit of a few rich people.
1ElToroVerde 2 years ago
Just read a book about the Bush family. What an elitist, self-serving, stupid, disconnected, detached, Nazi minded bunch of crackpot idiots. Unbelievable!! All of them need to be tarred and feathered. It speaks much of the resilience of America to withstand the onslaught of such horrible ruling families but who knows how much more we can tolerate. Is it too late?
Tacan1 2 years ago
Tarred and feathered...ooo that sounds beautiful.
However, I would be content just to have them exposed, tried for all of their despicable crimes, and hauled off to Guantanamo.
smujismuj 2 years ago
The open, fair market was divised for people to buy and sell things.
The stock market is a con game in which the public is held liable for the greed and bad judgment of ethic-less board members and ignorant stock-holders.
smujismuj 2 years ago
You series of comments seem to suggest you are likely an hopelessly ignorant and poor socialist; or at best an anarchist whose jealously oriented views underscore the fact you have not achieved much; however, don't despair--- this country offers great opportunity for success even for those who would destroy it---including having to suffer a communist government now supposedly running the show from DC. One whose objective is to reduce the magnificence of this truly wondrous nation to rubble.
Tacan1 2 years ago
I don't want to destroy anything but the fundamentally unfairness of our economic institutions. For instance the I.R.S. and the so-called "Federal" Reserve...which is neither Federal nor reserved. These organizations were designed by private bankers. They have been bilking the national treasury for decades.
They are being exposed now, but soon they will privatize the internet, and shut down the most democratic mechanisms ever devised.
Go ahead and keep apologizing for
smujismuj 2 years ago
...apologizing for them.
smujismuj 2 years ago
By the way, I'm quite well off and content with my own life. I simply hate subsidizing a crooked system, that rewards unfairness and shoddy ethics.
I am NOT a moralist.
Morality requires a point of view.
I believe fairness is practical, intelligent goal, not a sacred one.
smujismuj 2 years ago
I apologize for no one. I don't like what has been going on since 1913 or with the post WWII invited nazi infiltration of our political structure (read Bush family & friends) or subsequent communist infiltration and now Muslim radical Dark Ages throwbacks. However, unless Obama & co are short-circuited, we do yet have the best economical, political, and governmental structure the world has ever experienced---bar none. Not perfect by a long shot; however, I dare you to show me a better one.
Tacan1 2 years ago
The NEOCON guru was Leo Strauss at the U of Chicago. Strauss came to America on a Rockefeller grant arranged by Carl Schmitt, the German lawyer for Fritz Thyssen, his business partner, Prescott Bush and...Adolf Hitler. Thyssen financed Hitler rise to power and Prescott was convicted of trading with the enemy during and after WWII. NEOCONS are fascists without the anti-semitism.
exenrontexas 2 years ago
Guess who had everything to gain by inventing a "war on terror"?
Starts with an "R"...ends with an "r".
smujismuj 2 years ago
In 1934, a group of power conservative Republicans plotted to assinate President Roosevelt and then march on Washington with a private army of 500,000 veterans. The tried to recruit the highly respected Marine General Smedley Butler to lead the army. He exposed the plot and testified before the House UnAmerican activities committee. Nothing happened to the plotters. The plotters? JP Morgan, the DuPont, Remington & Goodyear fam. & Prescott BUSH. WAR PROFITEERS...ALL.
exenrontexas 2 years ago
Rear? Roar? Roofer? Roller? Rapper? Receiver? Router? Relaxer? Roaster? Rooster?...
Help me out, will ya? I'm not good at this Wheel of Fortune stuff!
ed2276 2 years ago
"War is the health of the state"
I do not know who invented it (must have come out of some "think tank" hired to find out how they can gain even more power and control over everything), but I have an idea who stands to gain everything out of this: the military industrial complex and all the corp. doing business with the gov.
1ElToroVerde 2 years ago
This isn't about governments anymore. it's about international banking cartels.
Governments and Politics are little more than dog and pony shows to give the ignorant a perception that they have some control over their lives.
smujismuj 2 years ago
Man, you are so right on the money. How do we get others to see through all the smoke they create?
1ElToroVerde 2 years ago
We HAD the best structure in the world. The whole political and economic system has been co-opted by corporatism and cronyism. What we are seeing now is the beginning of the endgame of 50 years or more of irresponsible short sighted policies.
pretorious700 2 years ago
You're absolutely right---unfortunately for the country. Duped we are for so many years and it happened right underneath our noses. Imagine---just a few years ago the CFR, Trilaterals and Bilderbergers DENIED their own existence. The old Spotlight paper reported all that jazz and they ran them out of business. How is it David Rockefeller continues to live? Could it be hi-tech robotics?
Tacan1 2 years ago
lol, like mr Burns. Rockefellers need to be exposed more somehow
marshall2411 2 years ago
The stock markets are a scam invented by the filthy rich to keep themselves filthy rich.
Anyone stupid enough to invest in the stock markets deserves whatever they get.
The "Federal" Reserve is a criminal cartel of private banking interests....I wish there was a "Hell" for them to burn within.
smujismuj 2 years ago
I dont support schiff politically, coz power corrupts
lisajason111 2 years ago
It seems the fed is attempting to destroy the US! They are not that stupid, are they? We've been fighting the wrong enemy all this time!
connielane 2 years ago
My hat's off to you Mr. Schiff. You are definitely a smart, smart man. I only wish that those who are in power would listen to you and the others more than they do.
MrsSarb 2 years ago 4
blah blah blah bullshit
They stole 24 trillion in 6 months.
The end result is starvation of the American people.
dieyoubastards 2 years ago
the California crisis isn't isolated. If anything, it's an indicator of what is to come for the other 49.
DevBlazed 2 years ago
the fed has deceived America into willingly stepping into a big ol bear trap.
more tax coming soon folks, the good news is Hillary's visit to India and their big new "gun supplier deal". that should pad our masters throne for a couple weeks.
hatchi58 2 years ago
Peter Schiff's analogies are the best!
Thrice13 2 years ago 3
difference between recession and depression:
when you fall off a cliff and land in the water then come right back up, thats a recession.
when the government throws you an anchor to "help" you, thats a depression.
michaelpshipley1 2 years ago 7
so bottom line where does this end? no one is going to save unless this is forced upon them we have lived in a spend all mode for too long to give up our stuff without a fight
dragonflychainsaw 2 years ago
sad time to be a young californian :( i'm glad you're around Mr. Schiff, keep telling it how it is!
asphyxiafeeling 2 years ago
CA has taken over the news for the faultering economy out there. Here in MI, I think we and the media are just used to it by now. I know so many laid off people I can't believe it. Property values have dropped 60-80 percent. Six foreclosures in my block in the last 18 months.
myfletcher 2 years ago
@9:35 i think its yellow =)
VegasBD 2 years ago
5 stars/favorited and posted on nr 1 libertarian blog on the planet dailypaul(dot)com
campaign4liberty 2 years ago 2
yo yo yo c moi le caca de t nightmare yoyo bichezz pute asiatique man yo you know what i send man? yo yo
GHmasterxd 2 years ago
Great video, saving for yesterday and tomorrow is going to be tough in a depression but it's not impossible. Be smart people and don't spend money unnecessarily. Do it yourself will be the name of the game, and innovation.
drewry 2 years ago 2
A lot of you Schiff fans are still asleep. Research the New World Order, Rockefellars, Rothschilds, Federal Reserve, Trilateral Commission, Commission on Foreign Policy, the Bilderburg Group. Learn what is really going on.
donharlan1 2 years ago 4
Exactly. It's like Schiff has no clue about the NWO agenda. It's not bad policy, it's all planned. The US economy is intentionally being dismantled. Stock up and prepare for the greatest depression.
donharlan1 2 years ago 7
here's a possible silver bullet to solve californias as well as every other states budget shortfalls. repeal the 16th amendment.
states would immediately stop paying federal income taxes.
money saved could go to their state governments, solving their budget problems.
the federal government would eliminate all but the most critical functions (defense, the courts, butterfly mating habits research).
states would choose what functions to provide that the federal government no longer provided.
michaelpshipley1 2 years ago
Do states pay federal income taxes? But, I agree with what you're saying. Give power back to the states as the Constitution intended. I don't think the federal government will do this as their ultimate goal is a one world government.
donharlan1 2 years ago
what i mean is all state citizens and businesses would stop paying fed taxes.
yes i agree, the fed gov would never agree to this. it has to be forced on them by the states. the states need to rebel.
michaelpshipley1 2 years ago
His explanations are so helpful. My only concern is the inscrutability of Fed deception. Peter's argument in this video is that Bernanke cannot "exit" the current monetary policy because he is watching the CPI, not the money supply. But just because he testifies to Congress that inflation = rising consumer prices, doesn't mean he truly believes that. After all, wasn't he the one testifying that the economy was sound and the banking system was solvent? He knew full well those were lies!
ChrisCaughey 2 years ago
Is there ANY chance that he could actually employ the methods he talked about in the War Street Journal?
ChrisCaughey 2 years ago
This is another example of Peter's way of making complex issues understandable for economic dummies like me. I've read his books and have total faith in his honesty. I'm invested with his firm and hope his bid for Dodd's Senate seat is successful. We need some honesty in Washington.
ronheri 2 years ago
Good vid Peter.
Intervene 2 years ago
I love his analogies!
buddcinder 2 years ago
So.....American Fed lends 500 billion $'s to new zealand and now their dollar is doing great.
You gave 3000$ to every person in New zealand!
Wow!
buddcinder 2 years ago
hey peter i saw this post on another of your videos. it's a great idea: You know how people complain about CNBC being biased and pretty much full of crap? Well you should create a financial channel (not just a show on a socialist tv network) with guys like Marc Faber, Jim Rogers, Celente, and yourself as the "reporters". You know, a REAL financial news channel. (Like you have nothing else to do huh?)
g0ssage 2 years ago 2
the fed is not the problem the president is. he could fix things easily but is trying to make things worse. more then half these guys in his admin are from Israel. his financial admin is ceo's from failed or future failing banks. most politicians are paid for in congress.
unless WE THE PEOPLE go to war with the people running this country in the ground, like we did many years ago, thing will never change except for the worse.
fixed92 2 years ago
Research the NWO. The fed controls the president.
donharlan1 2 years ago 5
why does the government always "enter" into these things that later on need an "exit strategy"?
g0ssage 2 years ago 2
We have another term for "exit strategy" at the building where I work; it is called a "fire plan"; that is, we need to know where the exits are so that should the building accidentally catch fire we can make it outside to safety. We don't intentionally set the building on fire, as Bernanke and Obama are doing with the economic building, just so we can use the exit strategy. If the fire should get out of control and spread quickly we might not be able to make it to the exit.
ed2276 2 years ago
This comment has received too many negative votes show
fucking retard
DreadhawkzZ 2 years ago
Schiff for Senate. I've already donated from Minnesota!!!! Those who want Schiff in office should also donate to Rand Paul in KY and Adam Kokesh in NM!
bajoverga 2 years ago 2
Yeah we need to support candidates like peter and rand and adam. I thin kI have a donation to make as well.
bukakkesake 2 years ago
Yep... commie Kalifornia... here comes the pain... why do I live here?
faanunu 2 years ago
if all criminals were to be dealt with philosophy and debates, we wouldnt have prisons anymore! the FED is criminal to the bone and should be dealt accordingly!!!
wdcsucks1 2 years ago
Great vid yet again Peter (imo).
Thank you
McRocket 2 years ago
You touched on restaurants - I thought it was funny, due to an experience I had recently.
I have been seeing these restaurant deals offering curbside pick-up, and meals under ten bucks. So I went to Outback Steakhouse on Sunday hardly any-body there. The girl was extremely nice she treated me like a King either she was desperate for a tip or she actually liked me Gigity.
The flipside is that customer service for people who have money seems to be improving.
suavehotguy24 2 years ago 3
Your videos are getting better and better, looking more at ease as well... keep it up!!
letsgoaztecs 2 years ago 3
Sound and vid now pro!
rexoid 2 years ago
captain bernanke says if the our economic submarine starts to sink due to inflation, he can get the submarine back to the surface by pumping air into the ballast tanks.
he can get the air in two ways: sell bonds or raise interest rates.
the problem is, you need someone with savings to buy bonds. americans have no savings and foreigners dont want to buy any more.
raising interest rates is like taking the air from the crew compartment, cant do that either.
there is no exit strategy.
michaelpshipley1 2 years ago 4
Peter's Analogies are completely on target. I think his next book should be Economics for Dummies and give Bernanke,Paulsen & Greenspan a discount. Problem is those guys are doing it purposely & must be operating under someone else's direction. The question is who?
thomas290 2 years ago 4
It will never be like it was again in America; it was all a mirage economy, but try telling that to the high maintenance women in the dating scene.
Jasman2444 2 years ago 3
Cali will sell pot
marniespeaks 2 years ago
The banks are after millionaires now
marniespeaks 2 years ago 2
So is Break (sic) Obama and Ream (sic) Immanuel ..oh..no..is it possible../they like..work together with the banks? That could be bad :)
Economy Loves me, this I know, for the Obama tells me so.
rexoid 2 years ago
Run Schiff Run
RSapper21 2 years ago 2
If my thinking is right, todays close marks the longest rally in the market in the last 36 months. Looks like the US market is healing. But then again- I dont know...Seems like its healed to fast.
arslosar 2 years ago
The market is not a leading indicator of economic activity. The market can be made to go up or down by Goldman Sachs and JPM, both of which are "fed" banks. I predict the Dow will reach 9800 and this will be a good time to go short.
donharlan1 2 years ago
Peter's run for Senate reminds me of a character from Ed Cline's amazing pre-Revolutionary War series "Sparrowhawk", Dogamel Jones. Jones was an English attorney who got a seat in Parliament (representing Baron Kenrick of Danvers), and in the series, the only man to vote against the Stamp Act. He was pro-Colonal but, unfortunately, vastly outnumbered and unable to change the course of history. I hope I'm wrong. Good luck.
shekfu 2 years ago 2
Peter one flaw with your logic in nominal gains in the US stock market is this. Sure the dollar is going down and yes that effects the exchange rate with foreign currency but that doesn't mean anything to the prices here at home.
China's currency is pegged to the dollar so stuff at walmart isn't going up.
Food is produced domestically for the most part so exchange rate will not affect this.
The only item that will inscrease as the dollar goes lower is gas. This is not a big deal to me.
BMac7773 2 years ago
Oh. Enjoying your 5 cent movie tickets still then are you?
Inflation of a currency devalues the currency relative to everything dude... not just relative to other currencies. And even domestically produced food needs to be trucked. You pay for gas whether you drive or not.
Stargazer5781 2 years ago
No I don't see how the value of the dollar relative to the euro or yen causes movie prices here in America to go up, or food or anything else. Maybe that mercedes benz you've always wanted will be more expensive but thats about it. If you can explain that to me I will be all hears.
BMac7773 2 years ago
And on to the price of gas. Think about it like this ( these are not real #s) , truck a has to drive 200 miles to deliver its 750 loaves of bread. The gas for this trip costs 100 dollars. Each loaf of bread costs 1 dollar to make and ship. So 7 cents of this was spent on the gas used. Ok so now price of gas doubles and instead of it costing 1 it costs 1.07 because of gas. Are you smelling what i'm cooking here? The price of gas has very little to do with consumer prices.
BMac7773 2 years ago
Also the weakness in the dollar has 0 effect on the price of rent or home ownership in the USA.
The point I guess I'm getting at is that my focus is on what I need to survive and live decently. I don't want to drive foreign cars I don't spend money I don't have. My focus is on me and mine eating and having a roof over our heads. And the weakness of the dollar really doesn't effect that at all.
BMac7773 2 years ago
if you save your dollars, it will affect you
capitalist4life 2 years ago
I applaud you for setting your priorities, but dollar weakness does affect you, and is only in your control if you are self-sustaining....produce your every need. If you spend dollars the dollar weakness will affect you through devaluation and rising prices. There could even come a point where the dollar collapse will mean no one will accept dollars in exchange for goods at any price.
ed2276 2 years ago 3
Sorry Bmac..I think that is the way Bernanke is doing the math and logic too :)
rexoid 2 years ago
i do see where you are going, but instead of just talking about gas price we need to look at all energy cost. such as electricity the price of the coal or any other energy source. i work in a grocery store and i saw some of the prices rise rather quickly last summer. when gas prices where at nearly 4 dollars here in texas.
zakattak80 2 years ago
Inflation's hard to describe in 500 words but I will try. ShaneDK has a fantastic video on it if you'd like.
Dollars are a good like any other good. Their purpose is to serve as a medium of exchange. If I have 100 widgets and 100 dollars, all other things being equal, each widget is 1 dollar. If I now print 100 more dollars, each widget will now be worth 2 dollars. This is inflation. This is a crude example, but the basic idea. Like I said, check out ShaneDK's video "How Inflation Works."
Stargazer5781 2 years ago
I think that you might want to substitute the word "cost" for "worth". By doubling the money supply no new worth (value) was created in the widget (the widget is still the same widget it was before the currency was printed; there is no new improvement in the widget). However, the value (purchasing power) of the dollar was diminished. Now, it takes two dollars to equal the value of the one dollar before the printing. So, prices rise (cost more).
What do you think?
ed2276 2 years ago
Sure. Worth, cost, value, these are all subjective things. I consider them almost interchangeable, but I guess there's a subtle difference. Cost is a better word than worth. What's really important is that he understands that currency is a product like any product, one the government just happens to have a monopoly on. It varies compared to all other products just like food, widgets, and beads do, not just to other currencies. If he gets that maybe he'll exchange his dollars for real value.
Stargazer5781 2 years ago
I agree! Well put!
ed2276 2 years ago
Unless you give the newly made money to the people who can buy the widgets, the price will not increase. How much money have you received from the billions in bailout? Until the government starts giving away more money than is being lost in job losses, we will not have hyperinflation.
donharlan1 2 years ago
hyperinflation always follows a deflationary environment. look it up. by the time rising prices due to inflation rears its head, the damage is done. Youre already on that slippery slope.
VegasBD 2 years ago 2
I've been doing research, and haven't located that little tidbit "hyperinflation always follows a deflationary environment." In fact, Japan has been in a deflationary cycle for 20 years. And, the Great Depression was deflationary. Please show me where I can "look it up."
donharlan1 2 years ago
BMac (Short for Big Mac?),
Look at the price of a Big Mac over time. You might say, but wages went up at the same time. The porblem is they didn't grow as quickly as prices. The other thing you need to grasp is that as the value of the dollar decreases, our ability to outbid others holding stronger currencies is dimished. Eventually, we'll start losing the auction. You add both points together and you realize that the dollars you saved years ago have been robbed of their value.
adambelnap 2 years ago 2
The Big Mac theory you're describing is just plain inflationary. Keynesian economics is designed work that way. Hyperinflation is different as it utterly destroys currency. I'll say it again. Hyperinflation is impossible unless the government gives away a whole lot more money than is being lost by unemployment.
donharlan1 2 years ago
I agree, were not going to have hyper-inflation but higher inflation. High Inflation has been part of the problem, and we'll have higher inflation and a weaker currency but not a currency collapse or hyper inflation. Its a bad scenario just not as bad as some people think it will be.
mrcool011 2 years ago
Californians didn't think they had to save. Just make those payments as your equity builds for a few years then move to another cheaper state. That is how Californians save. Then they inflate the home prices elsewhere.
SamuraiCommando 2 years ago
the decline of society as we know it make pot legal, what about coke, smak, meth, and whores etc....
Lets sell out to make a few bucks. The indian res. sure are real success.
It just goes to show that we are truly living in the last days of this rotten system. We are truley in the end game!
Pot isn't going to make any of this stop or go away. I haven't smoked going on 4 yrs now, but I didn't need it to be legal to do it.
I didnt need to be 21 to drink. People are going to do
cbrown39xl 2 years ago
Thanks Peter for your insight, I been following you for a while not long enough but devoted now.
Thanks for sharing
CTOL1 2 years ago
brilliant Peter just brilliant. I love these vlogs
jfish147 2 years ago
Thanks Peter!
shoeman3434 2 years ago
did you know china has a 75% saving, read it on pravda
4rcane 2 years ago
Pravda..MSNBC..no diff anymore
rexoid 2 years ago
i wish ben bernake watch this videos and get his response
4rcane 2 years ago 2
Well, if Schiff gets into the senate, he may actually get time with Ben. What will Ben do? What he always does. He'll talk slowly and take all of Schiff's alloted time without answering the question.
eurohim 2 years ago
Dollar is toast
saveRdollar . org
saverdollar1 2 years ago
I see Heather's Vlow: Twilight again in the Related Videos, as that has ANYTHING to do with Schiff.
AnotherUserNamedPaul 2 years ago
Great as always! No way California's going to cut its budget though. It will take every bail out and decimate the Californian economy before it does that, and then blame it on the free market. Governments are cancers. They do not voluntarily shrink.
Stargazer5781 2 years ago 2
Star, California Will be FORCED to Legalize Marijuana.
1 Billion Dollars in Tax Revenue's each year.Marijuana is Californias number one cash crop, according to federal estimates, worth double the states vegetable and grape crops combined or about $14 billion a year.
I mean DEA Law enforcement Just confiscated $17 BILLION Dollars of Marijuana.
Peter Tosh said it best, "LEGALIZE IT MON"
mitchee009 2 years ago 2
Sure, that's great. But legalizing marijuana will not fundamentally reduce the state's power, nor its spending. It will take away one of their excuses for doing violence, but the violence will continue under other justifications. Marijuana taxes will just give them new revenue to consume. They will continue to maintain or increase their spending regardless of the economy, just as our Federal government is. Legalizing marijuana's great, but it certainly won't save the Californian economy.
Stargazer5781 2 years ago
Hi Star, :) nice input, i totally vibe with you. May i ask what state you reside in? Are you on the West coast?:
Im in the Slave states, Georgia to be precise, and i do mean a Slave state. We have the largest bank failures to date, No labor rights, One of the Largest Unemployment and crime rates, and we Almost RAN OUT OF WATER last year!!
So what will Save the Californian Economy??
Surf's up dude! haha!
mitchee009 2 years ago
I'm from Massachusetts :-p I'm surprised this state isn't collapsing faster than California. We will certainly be 2nd.
There is nothing that can "save" California. If the legislators decided to cut spending it could help, but what would they cut? Health care? Pensions? Police? Bureaucrats? Unions would strike, protests would come up. It's impossible. The state has to collapse, and the utter inevitable world of suck has to ensue. After the chaos, maybe something sane can replace it.
Stargazer5781 2 years ago
Have you considered a move to New Hampshire? There is a liberty movement there called the Free State Project.
ed2276 2 years ago
I have. My dad lives in New Hampshire actually. The problem is, while lots of libertarians are moving to New Hampshire, an even greater number of liberals are moving there from Massachusetts to flee the high taxes. Of course, on arriving, they vote to raise the taxes. This is why I think Obama won it this past election.
I admire the free staters, I just don't think it can work. I don't think voting can shrink governments any more than it can shrink mafias. But yes, some day I intend on moving!
Stargazer5781 2 years ago
Comment removed
ed2276 2 years ago
Its such a sad state of affair... I am actually going to follow my heart and move to San Diego California. Oh my goodness, its so unbelievable on the West Coast. I dont know if you have ever been their but the Spiritual Hippie vibe is so totally rockin' and the Beaches, and the food and the cool grooves. So totally cool.
I also have heard that Boston is such a vibe, too, with the local communities and Concerts.
Well dear friend, Peace and Love to you, and hope your life stays groovy :)
mitchee009 2 years ago
"So what will Save the Californian Economy?? "
A Libertarian approach to government?
eurohim 2 years ago
im a Hippie at heart, and totally like to vibe out in California, dude,. I wish we could get some Liberty :)
mitchee009 2 years ago
The Federal Government overruled them on medical marijuana, so I don't see California legalizing it completely. Even if they do, they'll be overruled. The 10th amendment is ignored, which is why Texas wants to secede.
eurohim 2 years ago
Euro, its so sad. What would you do if you were the Governor?
mitchee009 2 years ago
I support the green tech revolution, however I dont believe that it will impact the economy significantly. I think the best thing California can do is downsize its government and legalize marijuana and not tax it, let the people keep the profit.
mossbergmaniac1947 2 years ago
The industrial and medical uses for hemp and marijuana far outweigh the "perceived disadvantages". I don't even smoke pot but I fully support its legalization. I also believe that government taxation never supported the economy and taxing it would mitigate many economic improvements. I think the only reason it is illegal is because of the social stigma created by hokus-pokus government propaganda.
mossbergmaniac1947 2 years ago
If you drive a car, I'll tax the street,
If you try to sit, I'll tax your seat.
If you get too cold I'll tax the heat,
If you take a walk, I'll tax your feet.
There is a tax on everything and they'd tax marijuana. There are other benefits like lower crime(no more black market for the product), lower law enforcement costs(half of all law enforcement money is spent on stopping the marijuana drug trade), etc.
eurohim 2 years ago 2
California will allow more offshore drilling to generate tax revenues. Green energy is a red herring. As for marijauna being legalized - the federal government will not allow it as it will cut into their CIA and NSA revenue.
donharlan1 2 years ago 3
Gypsy, what about LEGALIZING Marijuana :)
mitchee009 2 years ago
exactly, ha beat me to it while I was typing!
mossbergmaniac1947 2 years ago