I love how he likens the economy to a drug addiction...because it's so accurate it's not even funny...there's no simpler and more concise way of explaining it: America is on drugs. Both literally, and economically speaking.
When we had a gold standard we had good price stability and constant deflating prices. At least up until the creation of the central bank, the federal reserve. During this time of price stability we had bank issued notes redeemable in gold. Does Ron Paul and Peter Schiff advocate bank notes backed by gold like in the 19th century or government issued notes backed by gold?
Less government spending, less taxation to American Citizens, a budget plan that works.
This man has been fighting for your personal freedom and the separation of congress from big business for years. He stands against draconian bills like SOPA, NDAA and the Patriot Act.
He has fought against the war on drugs, the foreign wars, and corporate bail outs.
For all Gold Bugs: Gold based or Fiat money makes no difference! By lending and re-lending out, banks create more money in accounts all the time. The interest they charge, they do NOT create. More debt is created than there is money! When people can't pay their debts, banks go broke just the same and savings in accounts are lost. Please see: /watch?v=7kk6fplyLTI and /watch?v=UG5luKfGjU0
optical is right. schiff is one of the 13 bloodlines too, hence his CEO status of Euro Pacific Capital. satanist/freemason too probably, are u a freemason peter?
Let's see if Peter is able to correctly forecast when to sell your gold. Remember folks the goldbugs are in the business of SELLING you their gold. Gold advertisements have gone WAY up the past few years because there is a lot of money to be had.
Do not be surprised to see gold in the $300-$400 range within the next few years.
@fuxoffyo Actually gold has kept its value over thousands of years. YOU DON'T HAVE TO SELL... EVER. Gold bugs are people who recognize this and have gold as a hedge against inflation. Educate yourself before posting nonsense.
Hey Mr. Schiff (and anyone else willing to part wisdom), with gold recently falling, should I sell all of my meager amount of ~$10k of gold, or should I hold on to them? My gut instinct is telling me to hold onto them, but I'm a complete novice when it comes to investing. What makes me especially nervous is the news that it's very unlikely for there to be a QE3. Any advice would be appreciated.
@heIIhawk you are listening to the wrong news. Right now the Federal Reserve buys 80% of new debt.. imagine if that stops...it can't stop, unless they want the economic demon spawn of bedlam and mayhem to be brithed. Which, as crazy and diabolical as they are, I wouldn't put it past them. But my assumption is that they will keep printing. Hyperinflation is easier to control for them and easier for the world to swallow. Do not sell your gold!!
@SolidarityFracture The dollar did NOT rise 30%. Looking at the real purchasing power of dollars they barely rose at all and have lost all those gains within 12 months of the event. The dollar is already selling off and high inflation is already here. The market shows it in copper inflation in silver inflation in oil price inflation in M2 money supply inflation. It's game over. The dollar falls while the market falls. This is recorded fact.
I hope you both are trying to troll eachother, because you both come off ignorant. Take your petty, personal argument somewhere else. This is a comment section for this video, not for your flame war.
In one video he tells us that QE is the reason the dollar is dying and now he tells us that by ending QE we're taking away its only "crutch". All he wants is for you to buy his gold...not even his gold...someone elses gold THROUGH him. Nothing safer and more profitable than being a middle man. Take this guy with a grain of salt and skepticism. There's a ton of conflict of interest here.
@100silverpizza Quit whining there is alot of opportunities every day but you have to work hard. I have an average 30k a year job and yet i have saved my ass off and have been able to buy silver since it was 17 and im still buying, i have also studied stocks and currencies so when silver goes up i can move some of it to undervalued stocks and currencies.
I thought it was funny how you explained exactly how it's not fraud, and go on to say it is... you're saying it's deceptive to people who don't understand the nature of trading stocks. I think most people do. Fraud is defined by how words are meant to be interpreted as you have explained how the email's words are meant to be interpreted, and not by how *some* people might interpret it. It is impossible to not be misunderstood by *some* people, that's just the way it is.
I agree with most Mr Shiff, but it does seem unlikely that the FED will continue with QE2 come June - the Fed will probably start with QE3 once the SP500 corrects significantly. Ben got a lot of stick for QE2 from Central Bankers across the world so I think he needs to pause for a while and then print away once markets are in turmoil again.
What is interesting is the price of gas. Back in 2008 it got to $145.00 a barrell before we started to see $4.00 a gallon at the pump. Now it is around $112.00 a barrell and we are seeing near $4.00 a gallon at the pump. Definitely a correlation to the value of the US dollar.
Schiff doesn't realize that the U.S. is using the Bank of Japan to do its QE program but via the disaster of Japan and with Yen then being converted to U.S. Dollar to prop the economy up on the sly. Note the talk of dropping U.S. QE whilst hammering on about ramping up the speed of Japanese stimulus. TRICKERY by the Crown controlled by the Knights of Malta since the 14th Century.
i have a question would it make sense to cash in 15,000 of my annuity and buy as much gold as i can... minus the penalty of course.... i have silver just would also like to have gold. and if the currency collapses i think owning gold would be better then having it sitting in the back ripe for the taking just wondering thanks....
Mr. Schiff, you should also consider that if the dollar goes into freefall, there will be efforts to scrap the dollar for a supranational currency -- perhaps a North American currency. The argument is that, like the gold standard, this also constrains the money supply, by diluting the influence of national interests. Maybe this sounds fantastical, but look what happened in Europe. Even the pound's days may be numbered. As for me, I support a strong dollar, but I also know how "they" think.
Hong Kong Commodity Exchange, HKMex just launches and they will trade silver with physical delivery as early as July! The Asians are saying "screw you! If you guys don't want your gold and silver, give them to us! We'll set our own price motherfxxkers!"
Read more about HKmex here:
picanada(dot)org
(this is not a spam! I just want to spread the news as fast as possible and don't miss any buying opportunities, bring it on financial warfare)
i guess that if peter is wrong about gold so are all the central banks all around the world that are increasing their physical gold holdings in massive amounts .
4-5 years ago Schiff was pimping the stock market. There is a reason he has been invited multiple times on MSNBC on of the most corrupt news organizations around.
@zebfullmer Have you watched his appearances. They attacked and ridiculed him. He was advising his clients to avoid the internet bubble at its height while CNBC (not MSNBC as you said) was pimping it as were govt. officials. He argues with those people. He has consistently been at odds with those people. It's not that all of those people are corrupt. It is that they are incompetent by reason of their Keynesian/neo-liberal macrodeconomic "educations."
The gold standard is not a smart way to go. That's why no other country in the world uses it. Schiff wants a gold standard because a huge amount of his holdings are in gold. If we take up the gold standard again Schiff will become even more wealthy. That is why is so into gold and the gold standard. Selfish.
@riversdirect2 The Malaysian people are using gold and silver in large numbers today. i could have made teh same argument about consitutional republics 300 years ago. They didn't exist so they msut lack merit by your logic. Schiff has advocated commodity money since he was poor. I'm not rich but I want a moral medium of echange as well. Gold and silver have been monies for thousands of years. It is only in the last 40 years that the world has been experimenting with fiat paper.
@riversdirect2 No, that it not true. The reason is that Bretton Woods established the gold-backed dollar as the world's reserve currency. Vietnam war bankrupted the US and gold was flowing out, so Nixon disconnected the dollar from gold. That is the reason no other country uses a gold standard anymore to their detriment. You need to do some reading. You can not print gold like you can print fiat currency. A gold backed monetary system is the only way to go for stability.
The problem is that gold was just a big bubble just like internet stocks and real estate. Schiff will talk you into buying gold right up until he sells all his holdings leaving people who hold gold bullion holding the bag. He is going to loose a lot of people a lot of money except him. WATCH OUT!
@riversdirect2 Bubbles are pretty easy to spot. And gold isn't in one. You could say the same thing about cotton, or copper, or soy. All their prices have miraculously risen about the same amount in the last year.
Even when gas goes up some commodities use more than others. Civil unrest, famine etc. All cause SOME to go up but not others. And certainly not at the same rate.
There's only one thing that causes them to go up at the same rate.
@zebfullmer I was speaking of this last year in particular. Mainly because of your comment of gold being in a bubble. If gold is supposed to be a bubble, it would have risen spectacularly compared to everything else. (See housing prices during bubble compared to farm land). Or dot com stocks vs steel industry stocks during 1999.
It didn't.
Again, when prices of all commodities rise at the same time at nearly the same rate, it's inflation.
@riversdirect2 "Was" a bubble? It's dropped a little of late but is still up for the year. There have been numerous bull market corrections for any number or reasons over the last decade. Some of them were greater than 20%, and the same for silver. Some times its just people taking profits or central bank manipulation. If gold is at $400 in a year's time then you can start with bubble talk. The reason that gold, silver, and every other commodity has gone "up" is because the dollar has gone down.
I don't understand something: Why would Bernanke care about Obama's re-election? I can see why he wouldn't want to be perceived as destroying the US economy in general. But what does the election have to do with it?
"Why would Bernanke care about Obama's re-election?"
Because they both work for the same people ie "banking mafia" which has the power to control money, Fed & thus people & almost everything else. Do you think people choose candidates? No, they're bought & then whored out in the media to give them lots of exposure & then gullible masses vote for them. Think about the rise of Obama, look up both Obama & McCain's funding, both have been funded heavily by SAME big banks WHY?
@zebfullmer Ha! If that's the case he has been 'deperate' for 15 years. How are those dollar holdings working out. If you price the stock market for dollar devaluation, your stocks would have to be up by almost 40% in order to break even in purchasing power terms. How is that working out for you?
@joepeeler34 If gold bought groceries and paid utilities then I would have gold. Gold is as valuable as tits on a bull. The dirt outside is worth more. At least it has grown and built everything we enjoy now.
@zebfullmer The reason that gold and silver aren't used as money currently is due to the legal tender laws. The onlu reason that people use worthelss fiat paper is because it is forced on them. Taxes can only be payed in fiat dollars so people must acquire them in order to pay taxes. Gold and silver have ornamental and industrial uses. They have intrinsic value and possess all the properties that one would want in a medium of exchange. Central banks only keer gold in their vaults--not dirt.
Zebfullmer you are a smart person. That is exactly what Schiff is doing. He bought in on gold a while back and he is just trying to get more people to jump aboard increasing the value of his holdings. Trust me he will be the first one out when the gold bubble pops. All these unsophisticated investors who bought gold bullion will be left holding the bag.
@XESTISS LOL! Keep dreaming. How many gold and silver bull market corrections have there been over the last decade? Some of them have been by 20% or more. Fools like you were saying it was a bubble at $400 then $500 then $700 then $1000. Everytime there is a correction (even a small one) fools like you say, "I told you so." You are so delusional. I remember that I had a series of e-mail exchanges with you awhile back. Your just a Keynesian drone if memory serves. Have a nice day little troll!
@joepeeler34 Disbelief is the ultimate sin in any bubble. Your endless ability to masturbate to gold and silver should be documented in the Guinness book of world records. I believe Ron Paul said it is unconstitutional for you to masturbate. Keep cheering on the Koch brothers they are looking for small minded people like you. Please mark the date and time I wrote you this post. I will refer you to it in the future.Whack! Whack!
@XESTISS this is a strange comment considering your subscriptions
anyway the Koch bros line is getting old.
it's like those who constantly criticise him think he is doing it to his own benifit.
This is ridiculous. It is in no way is profitable to change a whole county's opinion for the benefit of one company, especially since similar companies would benefit from any changes the Koch bros may achieve. Also i'm not necessarily in support of him.
@100CommonCents It is getting Old? I did not know the Truth carried an expiry date. Only ridiculous thing is the tea Bagged party. I don't get you people. On the one hand you scream down with the Financial system and too Big to fail. On the Other hand you are their Bitches. This is exactly why I and other laugh at you Champion masturbators. You don't even know what you are fighting for anymore. You lack critical thinking. Now go buy some Viagra and some more gold.
@XESTISS i haven't actually told you my political position and i disagree with the tea-baggers out there.
then you go on about critical think after making such a dumb assumption?
did you not even read what i said, i do not necessarily support Koch. i only noted that it is obvious he actually believe in what he says since he gives money to his own detriment.
@100CommonCents You don't need to tell me what Your Political position is. It is self evident in your comments. You are one of the Great masturbators of gold, silver and the Koch Bros. Regardless of what you wish for others to see you as.
@100CommonCents You are the one that responded to my points of view. Not me. So who is obsessed with masturbating? Who should go Away? Like I said before Pathetic! Now go buy some Gold and Raise that cost basis up big guy! Await my post shortly! Whack! Whack! little jerkoff!
@XESTISS I think your belief system is statism. I don't need other people to think for me because I have read enough of economics to understand it. People like you have been saying that gold and silver were bubbles for years. You are the same person who couldn't spot real bubbles in housing and dotcoms.
How can something be a bubble when most people are net sellers of the commodity? When everyone is buying then there may be a bubble. I think you get off by trolling...continue masturbating.
@joepeeler34 Listen here the Great Champion masturbator. From everyone else in this chat room Needs to be told what to do. You especially. You come up with the most absurd ignorant things to say in defense of gold. I seriously doubt you have purchased a single ounce of $hit let alone gold or silver. So what does that make you?? A TROLL! You try to police everyones points of views why? To get a reaction. Get a life O! Great Champion masturbator!
@XESTISS you could not be more trollish in this comment. you've managed to make yourself out to be a hypocrite for accusing another of being a troll.
you know, when you've fallen this low, you end up aiding the other side by allowing others to connect your behaviour with anything you profess. since what you saying is load with bullshit, ad hominem and an obsession masterbation, your ideas immediately get throw in the trash, and ideas you oppose automatically get elevated.
They're now raiding the pension funds. We knew this was already going on, only now Geithner has publicly admitted this and is actually using it in a letter he wrote to Congress as a threat to get them to raise the debt ceiling lol.
I don't disagree with your overall premise but if the market tanks as it did before (particularly with speed and ferocity) people had to liquidate the good stuff too which sent gold down as well. I am assuming your expecting a slow grind down this time rather than a precipitous fall?
Peter, I am online campaigning for Ron Paul always. Can you do me a favour. Please tell him to wear better fitting suits. His jacket is too big and makes him appear too skinny and fragile. On TV debates this will go against him. Every aspect of his performance matters. Please promise me you will pass on this msg.
Funny thing (if you can call it funny) is that over here in the UK our fiscal debt to GDP is 10.2% thats worst than any other eurozone country yet we haven't been attacked by the markets and our interest payments on our bonds is about 3.4%. Shows that politicians speaking bullsh*t does make a difference. However i think that some americans don't realise how fucked their economy actually is.
OK..... Dollar goes down, Commodities go up! Right now, the Dollar is rising... I want to make money during the short term, what do I do?
Sure, the economy is going to collapse, but WHEN?
You discuss next years election and mention that they can't let the economy collapse before then. I could buy gold and silver, but if my timing is wrong I'll get killed! Not interested in buying, losing 40% and waiting 5 yrs to be rich!
I love you Peter, but give me something to work with!
@WealthGuardShow Peter is not trying to offer you ways to make a quick buck. He's telling you what's wrong with the economic fundamentals. Even in his book(s), Crash Proof (2), he says he can't give you an exact date, but the actions of the government/Federal Reserve will cause specific outcomes.
@seanadb I get that, but how does that help me? How should I act based on the information provided? I sure don't want to invest in gold or silver and get clipped for 40%! If there is no call to action, then he becomes just someone else who likes to hear themselves talk... I don't need a specific date either, but don't tell me to buy commodities just because something is going to happen in 5 yrs. If no crash before the election like he said, then where do I invest now and until then?
@WealthGuardShow Some people invest for the long term, and that has always been Peter's approach (he specifically says that in interviews and his books). So, if you're interested in investing for long term, Peter's advise works well; for the short term, it might, but that's not his focus.
you buy gold and silver at cheaper prices and accumulate as much physical metal as possible and wait to benefit from your sacrifice transfer of wealth will happen 5 yrs then you are over paying for the metals and your constantly chasing it
Peter, why would they not destroy the economy if ... 1. They want to replace Obungles with a new puppet, or 2. They want to cause more global chaos to create and implement a global currency and/or new gold standard?
@ObowMao666 Peak oil is real. They're going for broke as there isn't enough energy in the short term to keep growing the US economy. This is the final GRUNCH as buckminister fuller put it - Gross Universal Cash Heist.
Whack! Whach! What happen? To all that Masturbation in Silver? Did it go Limp on you? What Happen to Hyper Inflation, Dollar Collapse and FIAT always fails my little Anti Americans? Dollar strengthening up on you again? ROFL
Even the pump and dump crooks at NIA gave it up. Peter's 15 min are coming to an end along with your accounts. You guys keep screaming Go Koch Brothers, Ron Paul 2012 and all the anti American Tea bagged slogans! Invest in Viagra your Masturbation days are coming to an end
@itachi705 Another MEGA IDIOT Masturbater Speaks!! Who suddenly became an economist after he Miserably failed to become a real estate tycoon. So he decides that he won't pay the bank loses his ass and suddenly becomes you tube economist and anti Gov, (who is bailing your ass out) Anti Bank (that you screwed) Anti Wall street (cause you have no 401k left)! Now this idiot bearshitter tea bagger comes comes and asks me if I am stupid! ROTFLMAO!!!! Go dig a hole man!
@wolfgangfaust Listen here my trailer park You Tube economist. The world is coming to an end! Ben is out to get you! Banks are raping you. Wall street is laughing at you. Gov wants to make you a slave. Koch Brothers rule! Tea bagged Party rules! God speaks to you when you pray! Now go buy some Gold give all your worthless paper money to Peter and prepare with guns and ammo. Libya is coming to America! Clueless IDIOT!!!
Hi Peter, I really appreciate your thoughts and opinions. Do you think it would be a good time to get into silver mining stocks or just continue to buy physical? Thank you
@blakeerinbradley Ron Paul's campaign is over before it even began with his Idiotic statements in capturing Bin Laden, Screw all the people along the Mississippi, and screw all the senior citizens. I don't think even Peter is that stupid to jump on a sinking ship.
@Voy2378 .... I hope he does forget. RP is too old now and his foreign policy would become the single biggest blunder in world history. Besides that, an RP run ensures Obungles another term to finish destroying the nation.
@ObowMao666 Voting for the lesser of two evils is what caused this mess in the first place. Vote your morals. Any number of wrongs does not make a right.
I have mixed feelings on Nixon. On one hand he removed the gold standard and allowed the fed to print fiat paper ad infinitum, but on the other hand he stopped allowing foreigners to raid our gold stash at Fort Knox. Who knows how much money, if any, is even in Fort Knox now, but if there was any left he stopped people from converting to it at an astonishing $35 per ounce. If there is still gold left, history might end up recording him as a hero, instead of the demon he is often portrayed as.
I disagree about the Richard Nixon part, this goes back to 1913 and Federal Reserve System which sold a lie about price stability and then they proceeeded to print more gold certificates than the gold backing it. FDR is more guilty than Nixon for seizing people's Gold to cover the first scam on printing more paper than backing it. Nixon only completed the scam by scamming foreigners who could still convert. That is a default on an obligation.
@jay1wo You've been a you tube member since 2009 but your channel is blank. Why? Your only subscription is to Bloomberg. Why should anyone listen to you?
I will buy all your silver when you are ready to sell. Peter has enough trolls to deal with. Hillary is an idiot, she can ask congress for all the money she wants, I saw the same ad, work for the government by speading propaganda on You tube. Compare ABC's channel views to that of RT.
@SolidarityFracture dude you're a cry baby. waaa waaa peter schiff waaa waaa. ill slap you in the face with my 100 oz engelhard. you must work for the fed. lmao. go suck bernake's hermaphroditic clit ya jagaloon.
What would logically happen to the gold price lets say against the euro if america decided for a gold standard? Would me in sweden make money from buying gold now it the goldstandard was to be introduced 2012?
It wasn't Nixon guys. The abandonment of the gold standard was due to systemic reasons and the intellectual climate. The people don't understand monetary matters so they send politicians to D.C. who don't understand it either; or, else, it allows the politicians to do things they couldn't do if the people were economically literate.
We need private mintage, which, brings competition and choice. A gold standard isn't enough. The govt. can not be trusted with a money monopoly.
What is going to stop high commodity prices from crashing the economy leading to a drastic drop in commodity and stock prices just like in 2008, 1980 and 1929?
I think most of the people will only learn the hard way... Running for president or any government stuff to save the US does not really matter. If people do not care, that just means that they do not want to be saved. I think Ron Paul will be heard only when the US collapses.
Peter, if you're reading this, what your thoughts on Jim Rickards' comments that the Fed will discontinue traditional QE due to political pressure but covertly continue QE by reinvesting interest from their huge balance sheet. I think Richards called it perpetual easing.
Five years! Half the American people will be dried out husks in five years, the way things are going. We need this thing to tank now so we can start rebuilding this country in a way that benefits citizens and not banks and corporations. I'm not looking to the political system to save us. It's part of the problem. Thanks for the update. It's nice to here some truth now and then. See if you can fine tune your predictions a little though. What will things look like a year from now?
I remember 2.5 years ago in December 2008 trying to explain to all these wildly delusional Obama supporters out here in the San Francisco Bay Area how all this was going to happen, and they just didn't get it. It's like they DESPERATELY NEED to remain ignorant. It's part of this New Age false philosophy where "perception equals reality." They think if they can pretend that something doesn't exist - in this case inflation - that it will go away. It's the myth of the "free lunch" in economics.
@imirish2581 transfer your 401k into an IRA at a financial institution that has a gold mutual fund. i transfered to fidelity,com and contribute monthly into their gold mutual fund. (sorry, don't have the ticker symbol handy). good luck.
Richard Nixon should have been Executed on the White House lawn for all his shit and then and only then would we not have had a 911 FIASCO letting little george and cheney BLOW UP BUILDINGS and get away with it....
I heard it costs $7 per oz to mine. Why should I buy silver at over $21? For instance, Kyosaki is now recommending Copper and Natural Gas, over Silver. Yes, I know, the end of the world is coming, and paper is worthless. But, how true is that? The silver market seems very emotional, and maybe could sell off to $20 or below, if the herd gets scared. I have trouble investing more in this market.
@safeinsuburbia You shouldn't. Save it for me. But seriously the price has nothing to do with the cost to mine it. For example a new nintendo 3ds cost $250 but only only costs nintendo half that to make it. The price of a product comes from supply and demand not the cost to make it. The high spread could make other people want to open a mine to mine more which would bring down the price but this would take years. There is a lot of red government tape in the way.
@safeinsuburbia The fed only has one trick, and they will continue to use it, because thats the only thing they know how to do. That isn't the point. They've inflated the money supply, so there's no speculating that they've destroyed the currency, and that's the reason everything is so expensive.
@safeinsuburbia Commodities are high because investors realize the dollar is worthless, not because they want to jump onto a trend. How many people on the street do you know that own wheat futures?
@safeinsuburbia He's confirming what I just said about what happens if they raise interested rates, but he didn't give any time line, and his argument was just that what goes down must come up. The fed has backed itself into a corner. Nobody wants to buy bonds, in fact, PIMCO is outright shorting them now. And given our annual deficits thanks to Obama, we can't afford high interest rates. Bernanke wants stable prices and employment. You think he's gonna raise rates?
@yuppyguitar1 I have no idea. I just remember the old saying: "Don't bet against the Fed." I would be surprised if they don't have a surprise for us inflation hedgers. I'm going to sleep now. Goodnight.
@yuppyguitar1 death of the dollar, fed will keep throwing money at the bond market to keep rates down, uf they do stop QE it will only be temporary for smoke and mirrors
@safeinsuburbia with china talking about converting a third of its dollar holdings into gold roughly a trillion, what if the dollar goes pop, short term the dollar has rallied but long term the dollar has been and is in bear mode,
It costs 7 dollars to mine, but how much does it cost to mint the silver into coins or bars and how much demand is there globally for silver for industrial purposes? Silver goes up in value based on its supply and its demand. Just because it costs only 7 dollars to mine doesn't mean its not worth well over 20 dollars an ounce. The reason why it costs over 30 dollar an ounce is because people are willing to pay that price based on their lack of confidence in the dollar.
@pianowitz First off, name calling only shows the (lack of) character of the person doing it.
Yes, I understand it's demand. That is obvious. I guess my question is: is the demand rational? It doesn't make sense to me why people would pay $50 for a coin that costs $7 to mine. The purchase can make sense at $14 or even $21. But $50? If it's to hedge inflation, wouldn't it make more sense to invest in a less crowded asset, with less mark up?
@safeinsuburbia Name calling is in order, when you ask such a juvenile question.
Silver and gold are the main hedges of inflation because they are the most easy to turn back into capital. The price is not marked up, it is simply the demand. As more people see fiat currencies for what they are worth, more people will want to hold real assets, particularly gold and silver. So if you are measuring PMs in fiat the price may be going up, but that is just showing fiat debasement, not silvers value :)
I love how he likens the economy to a drug addiction...because it's so accurate it's not even funny...there's no simpler and more concise way of explaining it: America is on drugs. Both literally, and economically speaking.
Spjungen 1 month ago
When we had a gold standard we had good price stability and constant deflating prices. At least up until the creation of the central bank, the federal reserve. During this time of price stability we had bank issued notes redeemable in gold. Does Ron Paul and Peter Schiff advocate bank notes backed by gold like in the 19th century or government issued notes backed by gold?
jneil2007 2 months ago
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Support Ron Paul.
Less government spending, less taxation to American Citizens, a budget plan that works.
This man has been fighting for your personal freedom and the separation of congress from big business for years. He stands against draconian bills like SOPA, NDAA and the Patriot Act.
He has fought against the war on drugs, the foreign wars, and corporate bail outs.
Vote for liberty this year. Vote for real change.
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RapsAlive 2 months ago
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For all Gold Bugs: Gold based or Fiat money makes no difference! By lending and re-lending out, banks create more money in accounts all the time. The interest they charge, they do NOT create. More debt is created than there is money! When people can't pay their debts, banks go broke just the same and savings in accounts are lost. Please see: /watch?v=7kk6fplyLTI and /watch?v=UG5luKfGjU0
Adriaan1950 3 months ago
end the fed
moartommy 5 months ago
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Ron Paul 2012
He has never voted to raise taxes.
He has never voted for an unbalanced budget.
He has never voted for a federal restriction on gun ownership.
He has never voted to raise congressional pay.
He has never voted to increase the power of the executive branch.
He voted against the Patriot Act.
He voted against the Iraq War.
He returns a portion of his annual congressional office budget to the U.S. Treasury every year.
1XMarksSpot 7 months ago
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Ron Paul 2012!
The only honest and constitutional presidential candidate! Research his consistent voting record for over 30 years and decide for yourself.
Ron Paul 2012!
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1XMarksSpot 7 months ago
just trollin. :D in all seriousnes, you should research the geneaology and get a grip
bluefly28 7 months ago
optical is right. schiff is one of the 13 bloodlines too, hence his CEO status of Euro Pacific Capital. satanist/freemason too probably, are u a freemason peter?
bluefly28 8 months ago
@bluefly28 Are you retarded, or just trolling?
david52875 7 months ago
Let's see if Peter is able to correctly forecast when to sell your gold. Remember folks the goldbugs are in the business of SELLING you their gold. Gold advertisements have gone WAY up the past few years because there is a lot of money to be had.
Do not be surprised to see gold in the $300-$400 range within the next few years.
fuxoffyo 8 months ago
@fuxoffyo Actually gold has kept its value over thousands of years. YOU DON'T HAVE TO SELL... EVER. Gold bugs are people who recognize this and have gold as a hedge against inflation. Educate yourself before posting nonsense.
TWSceptic 2 months ago
@TWSceptic Keep telling yourself that. Please keep buying gold at $1600 and hang onto it.
If you want to Cheerleader for Schiff, then get him to debate Mike Stathis.
fuxoffyo 2 months ago
@SolidarityFracture welcome to the new world order.
optical76 9 months ago
Hey Mr. Schiff (and anyone else willing to part wisdom), with gold recently falling, should I sell all of my meager amount of ~$10k of gold, or should I hold on to them? My gut instinct is telling me to hold onto them, but I'm a complete novice when it comes to investing. What makes me especially nervous is the news that it's very unlikely for there to be a QE3. Any advice would be appreciated.
heIIhawk 9 months ago
@heIIhawk you are listening to the wrong news. Right now the Federal Reserve buys 80% of new debt.. imagine if that stops...it can't stop, unless they want the economic demon spawn of bedlam and mayhem to be brithed. Which, as crazy and diabolical as they are, I wouldn't put it past them. But my assumption is that they will keep printing. Hyperinflation is easier to control for them and easier for the world to swallow. Do not sell your gold!!
FiveWillBeWise 8 months ago
@SolidarityFracture The dollar did NOT rise 30%. Looking at the real purchasing power of dollars they barely rose at all and have lost all those gains within 12 months of the event. The dollar is already selling off and high inflation is already here. The market shows it in copper inflation in silver inflation in oil price inflation in M2 money supply inflation. It's game over. The dollar falls while the market falls. This is recorded fact.
ytgv3fc7 9 months ago
@XESTISS & wolfgangfaust
I hope you both are trying to troll eachother, because you both come off ignorant. Take your petty, personal argument somewhere else. This is a comment section for this video, not for your flame war.
Ixandius 9 months ago
almost all of the "anti-Schiff" trolls posting their blather here are "thinly veiled sycophantic cheerleader whores for obama-AKA O-BOTS"
wolfgangfaust 9 months ago
@100silverpizza -write to oprah- she cares about ALL the idiots like yourself.
-have you written Santa yet?
wolfgangfaust 9 months ago
In one video he tells us that QE is the reason the dollar is dying and now he tells us that by ending QE we're taking away its only "crutch". All he wants is for you to buy his gold...not even his gold...someone elses gold THROUGH him. Nothing safer and more profitable than being a middle man. Take this guy with a grain of salt and skepticism. There's a ton of conflict of interest here.
saintlennon9 9 months ago
@100silverpizza Quit whining there is alot of opportunities every day but you have to work hard. I have an average 30k a year job and yet i have saved my ass off and have been able to buy silver since it was 17 and im still buying, i have also studied stocks and currencies so when silver goes up i can move some of it to undervalued stocks and currencies.
jezza1789 9 months ago
This has been flagged as spam show
Can someone actually tell me SPECIFICALLY what the CPI number represents?
Attackfull 9 months ago
I can't believe we will have a 10% increase in ho sale prices.
rockinewok 9 months ago
Why is everybody so excited about Ron Paul? We do NOT want a libertarian at the helm when the ship goes down.
RussellsParadox 9 months ago
@RussellsParadox yeah you're right, we need a Communist who will take care of us, right? Take care of yourself.
trick29420 9 months ago
This has been flagged as spam show
@trick29420 What exactly do you think I meant by, "We do NOT want a libertarian at the helm when the ship goes down?"
I'm morbidly curious.
RussellsParadox 9 months ago
This has been flagged as spam show
@RussellsParadox "Why is everybody so excited about Ron Paul? We do NOT want a libertarian at the helm when the ship goes down."
The alternative is a fascist that is under the Democratic or Republican label.
fuzzywzhe 9 months ago
I thought it was funny how you explained exactly how it's not fraud, and go on to say it is... you're saying it's deceptive to people who don't understand the nature of trading stocks. I think most people do. Fraud is defined by how words are meant to be interpreted as you have explained how the email's words are meant to be interpreted, and not by how *some* people might interpret it. It is impossible to not be misunderstood by *some* people, that's just the way it is.
carlosjhr64 9 months ago
I agree with most Mr Shiff, but it does seem unlikely that the FED will continue with QE2 come June - the Fed will probably start with QE3 once the SP500 corrects significantly. Ben got a lot of stick for QE2 from Central Bankers across the world so I think he needs to pause for a while and then print away once markets are in turmoil again.
betover68 9 months ago
What is interesting is the price of gas. Back in 2008 it got to $145.00 a barrell before we started to see $4.00 a gallon at the pump. Now it is around $112.00 a barrell and we are seeing near $4.00 a gallon at the pump. Definitely a correlation to the value of the US dollar.
BogusJesus 9 months ago
Great video.
Ron Paul for President 2012!
a4finger 9 months ago 11
Schiff doesn't realize that the U.S. is using the Bank of Japan to do its QE program but via the disaster of Japan and with Yen then being converted to U.S. Dollar to prop the economy up on the sly. Note the talk of dropping U.S. QE whilst hammering on about ramping up the speed of Japanese stimulus. TRICKERY by the Crown controlled by the Knights of Malta since the 14th Century.
anunnaki2006 9 months ago
I love quantitative easing!
dickinson1027 9 months ago 2
i have a question would it make sense to cash in 15,000 of my annuity and buy as much gold as i can... minus the penalty of course.... i have silver just would also like to have gold. and if the currency collapses i think owning gold would be better then having it sitting in the back ripe for the taking just wondering thanks....
GONECRUISING72 9 months ago
Mr. Schiff, you should also consider that if the dollar goes into freefall, there will be efforts to scrap the dollar for a supranational currency -- perhaps a North American currency. The argument is that, like the gold standard, this also constrains the money supply, by diluting the influence of national interests. Maybe this sounds fantastical, but look what happened in Europe. Even the pound's days may be numbered. As for me, I support a strong dollar, but I also know how "they" think.
PilsenB 9 months ago
support Peter ★★★★★ and wishing happy trades to all FOREX TRADERS!
freeSCALPINGindicato 9 months ago
commodities aren't even rising (or if they are, the rises you see are not inflation adjusted), that's the thing people.. that's what schiff is saying.
people claiming it is a bubble are not taking inflation into consideration.
100CommonCents 9 months ago
@100CommonCents You don't even know what inflation is you Moron! If we were inflating would we be printing? NO!!! Idiot!
All that masturbating is affecting your little brain! Now go buy some Gold and raise that cost basis up
XESTISS 9 months ago
more money = bid up prices.
to try to contain it (for JPM's sake), they change the law.
fantastic.
Ristar85 9 months ago 2
This has been flagged as spam show
EVERYONE LISTEN UP!!!
Hong Kong Commodity Exchange, HKMex just launches and they will trade silver with physical delivery as early as July! The Asians are saying "screw you! If you guys don't want your gold and silver, give them to us! We'll set our own price motherfxxkers!"
Read more about HKmex here:
picanada(dot)org
(this is not a spam! I just want to spread the news as fast as possible and don't miss any buying opportunities, bring it on financial warfare)
page826 9 months ago
I think it's time you do another video dammit!
NinkasiDelight 9 months ago
6:42 " the market to sober up" lol..
good analogy
DuvallSilver 9 months ago
i guess that if peter is wrong about gold so are all the central banks all around the world that are increasing their physical gold holdings in massive amounts .
TheCristo68 9 months ago
4-5 years ago Schiff was pimping the stock market. There is a reason he has been invited multiple times on MSNBC on of the most corrupt news organizations around.
zebfullmer 9 months ago
@zebfullmer Have you watched his appearances. They attacked and ridiculed him. He was advising his clients to avoid the internet bubble at its height while CNBC (not MSNBC as you said) was pimping it as were govt. officials. He argues with those people. He has consistently been at odds with those people. It's not that all of those people are corrupt. It is that they are incompetent by reason of their Keynesian/neo-liberal macrodeconomic "educations."
joepeeler34 9 months ago
The gold standard is not a smart way to go. That's why no other country in the world uses it. Schiff wants a gold standard because a huge amount of his holdings are in gold. If we take up the gold standard again Schiff will become even more wealthy. That is why is so into gold and the gold standard. Selfish.
riversdirect2 9 months ago
@riversdirect2 The Malaysian people are using gold and silver in large numbers today. i could have made teh same argument about consitutional republics 300 years ago. They didn't exist so they msut lack merit by your logic. Schiff has advocated commodity money since he was poor. I'm not rich but I want a moral medium of echange as well. Gold and silver have been monies for thousands of years. It is only in the last 40 years that the world has been experimenting with fiat paper.
joepeeler34 9 months ago
@riversdirect2 No, that it not true. The reason is that Bretton Woods established the gold-backed dollar as the world's reserve currency. Vietnam war bankrupted the US and gold was flowing out, so Nixon disconnected the dollar from gold. That is the reason no other country uses a gold standard anymore to their detriment. You need to do some reading. You can not print gold like you can print fiat currency. A gold backed monetary system is the only way to go for stability.
snarbywrx 9 months ago
The problem is that gold was just a big bubble just like internet stocks and real estate. Schiff will talk you into buying gold right up until he sells all his holdings leaving people who hold gold bullion holding the bag. He is going to loose a lot of people a lot of money except him. WATCH OUT!
riversdirect2 9 months ago
@riversdirect2 Bubbles are pretty easy to spot. And gold isn't in one. You could say the same thing about cotton, or copper, or soy. All their prices have miraculously risen about the same amount in the last year.
Even when gas goes up some commodities use more than others. Civil unrest, famine etc. All cause SOME to go up but not others. And certainly not at the same rate.
There's only one thing that causes them to go up at the same rate.
Inflation.
sirellyn 9 months ago
@sirellyn buddy go look at a 2008 chart of commodities.
zebfullmer 9 months ago
@zebfullmer I was speaking of this last year in particular. Mainly because of your comment of gold being in a bubble. If gold is supposed to be a bubble, it would have risen spectacularly compared to everything else. (See housing prices during bubble compared to farm land). Or dot com stocks vs steel industry stocks during 1999.
It didn't.
Again, when prices of all commodities rise at the same time at nearly the same rate, it's inflation.
sirellyn 9 months ago
@riversdirect2 "Was" a bubble? It's dropped a little of late but is still up for the year. There have been numerous bull market corrections for any number or reasons over the last decade. Some of them were greater than 20%, and the same for silver. Some times its just people taking profits or central bank manipulation. If gold is at $400 in a year's time then you can start with bubble talk. The reason that gold, silver, and every other commodity has gone "up" is because the dollar has gone down.
joepeeler34 9 months ago
check out my GOT SILVER? shirts on ebay
GotSilver100 9 months ago
I don't understand something: Why would Bernanke care about Obama's re-election? I can see why he wouldn't want to be perceived as destroying the US economy in general. But what does the election have to do with it?
andrewschwartz101 9 months ago
@andrewschwartz101
"Why would Bernanke care about Obama's re-election?"
Because they both work for the same people ie "banking mafia" which has the power to control money, Fed & thus people & almost everything else. Do you think people choose candidates? No, they're bought & then whored out in the media to give them lots of exposure & then gullible masses vote for them. Think about the rise of Obama, look up both Obama & McCain's funding, both have been funded heavily by SAME big banks WHY?
lomocan 9 months ago
Peter, your desperate for a logical reason to buy gold when deep inside you know its a rigged game that your apart of.
zebfullmer 9 months ago
@zebfullmer Ha! If that's the case he has been 'deperate' for 15 years. How are those dollar holdings working out. If you price the stock market for dollar devaluation, your stocks would have to be up by almost 40% in order to break even in purchasing power terms. How is that working out for you?
joepeeler34 9 months ago
@joepeeler34 If gold bought groceries and paid utilities then I would have gold. Gold is as valuable as tits on a bull. The dirt outside is worth more. At least it has grown and built everything we enjoy now.
zebfullmer 9 months ago
@zebfullmer The reason that gold and silver aren't used as money currently is due to the legal tender laws. The onlu reason that people use worthelss fiat paper is because it is forced on them. Taxes can only be payed in fiat dollars so people must acquire them in order to pay taxes. Gold and silver have ornamental and industrial uses. They have intrinsic value and possess all the properties that one would want in a medium of exchange. Central banks only keer gold in their vaults--not dirt.
joepeeler34 9 months ago
@zebfullmer
Zebfullmer you are a smart person. That is exactly what Schiff is doing. He bought in on gold a while back and he is just trying to get more people to jump aboard increasing the value of his holdings. Trust me he will be the first one out when the gold bubble pops. All these unsophisticated investors who bought gold bullion will be left holding the bag.
riversdirect2 9 months ago
There goes Gold! Wave Bye! Bye! I wonder if Peter will buy all that Gold he sold you now? Something tells me NO! The 15 minutes are almost over!
XESTISS 9 months ago
@XESTISS LOL! Keep dreaming. How many gold and silver bull market corrections have there been over the last decade? Some of them have been by 20% or more. Fools like you were saying it was a bubble at $400 then $500 then $700 then $1000. Everytime there is a correction (even a small one) fools like you say, "I told you so." You are so delusional. I remember that I had a series of e-mail exchanges with you awhile back. Your just a Keynesian drone if memory serves. Have a nice day little troll!
joepeeler34 9 months ago
@joepeeler34 Disbelief is the ultimate sin in any bubble. Your endless ability to masturbate to gold and silver should be documented in the Guinness book of world records. I believe Ron Paul said it is unconstitutional for you to masturbate. Keep cheering on the Koch brothers they are looking for small minded people like you. Please mark the date and time I wrote you this post. I will refer you to it in the future.Whack! Whack!
XESTISS 9 months ago
@XESTISS this is a strange comment considering your subscriptions
anyway the Koch bros line is getting old.
it's like those who constantly criticise him think he is doing it to his own benifit.
This is ridiculous. It is in no way is profitable to change a whole county's opinion for the benefit of one company, especially since similar companies would benefit from any changes the Koch bros may achieve. Also i'm not necessarily in support of him.
Yes, he actually does believe what he says.
100CommonCents 9 months ago
@100CommonCents It is getting Old? I did not know the Truth carried an expiry date. Only ridiculous thing is the tea Bagged party. I don't get you people. On the one hand you scream down with the Financial system and too Big to fail. On the Other hand you are their Bitches. This is exactly why I and other laugh at you Champion masturbators. You don't even know what you are fighting for anymore. You lack critical thinking. Now go buy some Viagra and some more gold.
XESTISS 9 months ago
@XESTISS i haven't actually told you my political position and i disagree with the tea-baggers out there.
then you go on about critical think after making such a dumb assumption?
did you not even read what i said, i do not necessarily support Koch. i only noted that it is obvious he actually believe in what he says since he gives money to his own detriment.
100CommonCents 9 months ago
@100CommonCents You don't need to tell me what Your Political position is. It is self evident in your comments. You are one of the Great masturbators of gold, silver and the Koch Bros. Regardless of what you wish for others to see you as.
XESTISS 9 months ago
@XESTISS you're clearly obsessed with masturbating. go away
100CommonCents 9 months ago 3
@100CommonCents You are the one that responded to my points of view. Not me. So who is obsessed with masturbating? Who should go Away? Like I said before Pathetic! Now go buy some Gold and Raise that cost basis up big guy! Await my post shortly! Whack! Whack! little jerkoff!
XESTISS 9 months ago
@XESTISS I think your belief system is statism. I don't need other people to think for me because I have read enough of economics to understand it. People like you have been saying that gold and silver were bubbles for years. You are the same person who couldn't spot real bubbles in housing and dotcoms.
How can something be a bubble when most people are net sellers of the commodity? When everyone is buying then there may be a bubble. I think you get off by trolling...continue masturbating.
joepeeler34 9 months ago
@joepeeler34 Listen here the Great Champion masturbator. From everyone else in this chat room Needs to be told what to do. You especially. You come up with the most absurd ignorant things to say in defense of gold. I seriously doubt you have purchased a single ounce of $hit let alone gold or silver. So what does that make you?? A TROLL! You try to police everyones points of views why? To get a reaction. Get a life O! Great Champion masturbator!
XESTISS 9 months ago
@XESTISS you could not be more trollish in this comment. you've managed to make yourself out to be a hypocrite for accusing another of being a troll.
you know, when you've fallen this low, you end up aiding the other side by allowing others to connect your behaviour with anything you profess. since what you saying is load with bullshit, ad hominem and an obsession masterbation, your ideas immediately get throw in the trash, and ideas you oppose automatically get elevated.
keep it up lol
100CommonCents 9 months ago
@100CommonCents Sorry I do not masterbate to Gold and Silver like you. You have no comeback to the truth. Pathetic!
XESTISS 9 months ago
Bad mathematics, Peter... 2.2% monthly percentage annualizes to 29.8%, not 26%.
gundaetiapo 9 months ago
This has been flagged as spam show
Lets go Ron Paul! Find out why silver will skyrocket: SilverPricesSoar.blogspot.com
WorldsFinalEvents 9 months ago
They're now raiding the pension funds. We knew this was already going on, only now Geithner has publicly admitted this and is actually using it in a letter he wrote to Congress as a threat to get them to raise the debt ceiling lol.
seanlaca 9 months ago
If Ron Paul does go on to win the Presidency, would you be open to being part of his cabinet?
Jammer8x8 9 months ago
I don't disagree with your overall premise but if the market tanks as it did before (particularly with speed and ferocity) people had to liquidate the good stuff too which sent gold down as well. I am assuming your expecting a slow grind down this time rather than a precipitous fall?
DBrianAshby 9 months ago
your reports are great and ever more depressing
m1o2r3i4o5n 9 months ago
Peter, I am online campaigning for Ron Paul always. Can you do me a favour. Please tell him to wear better fitting suits. His jacket is too big and makes him appear too skinny and fragile. On TV debates this will go against him. Every aspect of his performance matters. Please promise me you will pass on this msg.
Spinozin 9 months ago
Funny thing (if you can call it funny) is that over here in the UK our fiscal debt to GDP is 10.2% thats worst than any other eurozone country yet we haven't been attacked by the markets and our interest payments on our bonds is about 3.4%. Shows that politicians speaking bullsh*t does make a difference. However i think that some americans don't realise how fucked their economy actually is.
Talentz92 9 months ago
OK..... Dollar goes down, Commodities go up! Right now, the Dollar is rising... I want to make money during the short term, what do I do?
Sure, the economy is going to collapse, but WHEN?
You discuss next years election and mention that they can't let the economy collapse before then. I could buy gold and silver, but if my timing is wrong I'll get killed! Not interested in buying, losing 40% and waiting 5 yrs to be rich!
I love you Peter, but give me something to work with!
WealthGuardShow 9 months ago
@WealthGuardShow Peter is not trying to offer you ways to make a quick buck. He's telling you what's wrong with the economic fundamentals. Even in his book(s), Crash Proof (2), he says he can't give you an exact date, but the actions of the government/Federal Reserve will cause specific outcomes.
Good luck on the getting rich quick thing.
seanadb 9 months ago
@seanadb I get that, but how does that help me? How should I act based on the information provided? I sure don't want to invest in gold or silver and get clipped for 40%! If there is no call to action, then he becomes just someone else who likes to hear themselves talk... I don't need a specific date either, but don't tell me to buy commodities just because something is going to happen in 5 yrs. If no crash before the election like he said, then where do I invest now and until then?
WealthGuardShow 9 months ago
@WealthGuardShow Some people invest for the long term, and that has always been Peter's approach (he specifically says that in interviews and his books). So, if you're interested in investing for long term, Peter's advise works well; for the short term, it might, but that's not his focus.
seanadb 9 months ago
@WealthGuardShow
you buy gold and silver at cheaper prices and accumulate as much physical metal as possible and wait to benefit from your sacrifice transfer of wealth will happen 5 yrs then you are over paying for the metals and your constantly chasing it
europa 9 months ago
Peter, why would they not destroy the economy if ... 1. They want to replace Obungles with a new puppet, or 2. They want to cause more global chaos to create and implement a global currency and/or new gold standard?
ObowMao666 9 months ago
@ObowMao666 Peak oil is real. They're going for broke as there isn't enough energy in the short term to keep growing the US economy. This is the final GRUNCH as buckminister fuller put it - Gross Universal Cash Heist.
ostralopithicus 9 months ago
@ostralopithicus
peak oil was brought to the table by Shell oil..........
europa 9 months ago
Whack! Whach! What happen? To all that Masturbation in Silver? Did it go Limp on you? What Happen to Hyper Inflation, Dollar Collapse and FIAT always fails my little Anti Americans? Dollar strengthening up on you again? ROFL
Even the pump and dump crooks at NIA gave it up. Peter's 15 min are coming to an end along with your accounts. You guys keep screaming Go Koch Brothers, Ron Paul 2012 and all the anti American Tea bagged slogans! Invest in Viagra your Masturbation days are coming to an end
XESTISS 9 months ago
@XESTISS Are...are you fucking stupid?
itachi705 9 months ago
@itachi705 Another MEGA IDIOT Masturbater Speaks!! Who suddenly became an economist after he Miserably failed to become a real estate tycoon. So he decides that he won't pay the bank loses his ass and suddenly becomes you tube economist and anti Gov, (who is bailing your ass out) Anti Bank (that you screwed) Anti Wall street (cause you have no 401k left)! Now this idiot bearshitter tea bagger comes comes and asks me if I am stupid! ROTFLMAO!!!! Go dig a hole man!
XESTISS 9 months ago
@XESTISS -res ipsa loquitor-"Another MEGA IDIOT Masturbater Speaks!!"
how long have you been a fan of "government?"
let me guess-november of 2008?
bWahahahhaaaaaaa!
wolfgangfaust 9 months ago
@wolfgangfaust SHHHH!!! Dont talk too much! Learn economics first then talk. Till then... SSHHHHH!!! Keep digging holes!
XESTISS 9 months ago
@XESTISS - so, how long have you been trolling obamanomics?
wolfgangfaust 9 months ago
@wolfgangfaust Listen here my trailer park You Tube economist. The world is coming to an end! Ben is out to get you! Banks are raping you. Wall street is laughing at you. Gov wants to make you a slave. Koch Brothers rule! Tea bagged Party rules! God speaks to you when you pray! Now go buy some Gold give all your worthless paper money to Peter and prepare with guns and ammo. Libya is coming to America! Clueless IDIOT!!!
XESTISS 9 months ago
@XESTISS -wOw.
did your prozac wear off?
wolfgangfaust 9 months ago
@wolfgangfaust Is that the best your little mind could come up with?
XESTISS 9 months ago
This has been flagged as spam show
@XESTISS -once again-res ipsa loquitor.
"trailer park You Tube economist"
"Clueless IDIOT"
wolfgangfaust 9 months ago
Hi Peter, I really appreciate your thoughts and opinions. Do you think it would be a good time to get into silver mining stocks or just continue to buy physical? Thank you
blakeerinbradley 9 months ago
@blakeerinbradley Ron Paul's campaign is over before it even began with his Idiotic statements in capturing Bin Laden, Screw all the people along the Mississippi, and screw all the senior citizens. I don't think even Peter is that stupid to jump on a sinking ship.
XESTISS 9 months ago
Peter you said that you will campaign for Ron Paul! I hope you havent forgot about that. :)
Go Ron.
Voy2378 9 months ago 36
@Voy2378 .... I hope he does forget. RP is too old now and his foreign policy would become the single biggest blunder in world history. Besides that, an RP run ensures Obungles another term to finish destroying the nation.
ObowMao666 9 months ago
@ObowMao666 Voting for the lesser of two evils is what caused this mess in the first place. Vote your morals. Any number of wrongs does not make a right.
ostralopithicus 9 months ago
@Voy2378 He was Ron Paul's economic advisor for his campaign.... are you serious?...
pureaggression 9 months ago
How will the Bankers ever pay big salarys and bonuses if we go on a gold standard?
breckandy 9 months ago
I have mixed feelings on Nixon. On one hand he removed the gold standard and allowed the fed to print fiat paper ad infinitum, but on the other hand he stopped allowing foreigners to raid our gold stash at Fort Knox. Who knows how much money, if any, is even in Fort Knox now, but if there was any left he stopped people from converting to it at an astonishing $35 per ounce. If there is still gold left, history might end up recording him as a hero, instead of the demon he is often portrayed as.
EricShermansChannel 9 months ago
QE is more like using a defibrillator on a corpse , "hey it moved! Yay!!!!!"
FiveWillBeWise 9 months ago 26
@FiveWillBeWise
hahahahahaha thats a good one
moctezuma112 9 months ago
I disagree about the Richard Nixon part, this goes back to 1913 and Federal Reserve System which sold a lie about price stability and then they proceeeded to print more gold certificates than the gold backing it. FDR is more guilty than Nixon for seizing people's Gold to cover the first scam on printing more paper than backing it. Nixon only completed the scam by scamming foreigners who could still convert. That is a default on an obligation.
vanscoyoc 9 months ago
@jay1wo You've been a you tube member since 2009 but your channel is blank. Why? Your only subscription is to Bloomberg. Why should anyone listen to you?
I will buy all your silver when you are ready to sell. Peter has enough trolls to deal with. Hillary is an idiot, she can ask congress for all the money she wants, I saw the same ad, work for the government by speading propaganda on You tube. Compare ABC's channel views to that of RT.
ManufacturedLack 9 months ago
@SolidarityFracture dude you're a cry baby. waaa waaa peter schiff waaa waaa. ill slap you in the face with my 100 oz engelhard. you must work for the fed. lmao. go suck bernake's hermaphroditic clit ya jagaloon.
optical76 9 months ago
Thanks for sharing with everyone the truth about the economy, markets and dollar.
Please share your thoughts on the Republican Primary on the Schiff Report.
marcscalera 9 months ago
What would logically happen to the gold price lets say against the euro if america decided for a gold standard? Would me in sweden make money from buying gold now it the goldstandard was to be introduced 2012?
bingoberra18 9 months ago
It wasn't Nixon guys. The abandonment of the gold standard was due to systemic reasons and the intellectual climate. The people don't understand monetary matters so they send politicians to D.C. who don't understand it either; or, else, it allows the politicians to do things they couldn't do if the people were economically literate.
We need private mintage, which, brings competition and choice. A gold standard isn't enough. The govt. can not be trusted with a money monopoly.
joepeeler34 9 months ago
What is going to stop high commodity prices from crashing the economy leading to a drastic drop in commodity and stock prices just like in 2008, 1980 and 1929?
christo930 9 months ago
HAahahahahah! Ron Paul has blown himself out of the water before he even started!! What a moron!
Minethis1 9 months ago
@SolidarityFracture ....fIAT MONEY ALWAYS FAILS
petiemac24 9 months ago
END THE FED....RON PAUL FOR PRESIDENT 2012
petiemac24 9 months ago
I think most of the people will only learn the hard way... Running for president or any government stuff to save the US does not really matter. If people do not care, that just means that they do not want to be saved. I think Ron Paul will be heard only when the US collapses.
sdgsdf45 9 months ago
DOOOOOOOOOOOOOOOOOOOOOOOOOOOOM
xipkore 9 months ago
Why monetary base is increasing so rapidly (hockey sticks in chart), while M2 does not?
semidude 9 months ago
Peter, if you're reading this, what your thoughts on Jim Rickards' comments that the Fed will discontinue traditional QE due to political pressure but covertly continue QE by reinvesting interest from their huge balance sheet. I think Richards called it perpetual easing.
yuppyguitar1 9 months ago
What's with all the trolls?
babaloo42 9 months ago
I don't see this system making it to the next election without some kind of push back.
babaloo42 9 months ago
Five years! Half the American people will be dried out husks in five years, the way things are going. We need this thing to tank now so we can start rebuilding this country in a way that benefits citizens and not banks and corporations. I'm not looking to the political system to save us. It's part of the problem. Thanks for the update. It's nice to here some truth now and then. See if you can fine tune your predictions a little though. What will things look like a year from now?
babaloo42 9 months ago
I remember 2.5 years ago in December 2008 trying to explain to all these wildly delusional Obama supporters out here in the San Francisco Bay Area how all this was going to happen, and they just didn't get it. It's like they DESPERATELY NEED to remain ignorant. It's part of this New Age false philosophy where "perception equals reality." They think if they can pretend that something doesn't exist - in this case inflation - that it will go away. It's the myth of the "free lunch" in economics.
winterrosscharlton 9 months ago
Silver is going to drop another 50% soon. Sell now before it is too late!
jay1wo 9 months ago
@jay1wo So buy when it drops another 50%. Thanks.
falchard 9 months ago
go Obama we got our country back yeah i said it
undeadnow 9 months ago
Ron Paul/Peter Schiff 2012!!
RonPaul2012. com
1776Rosco 9 months ago
Peter, please shutup, and go find Ron Paul and run with him ! RON PAUL PETER SCHIFF 2012 !
WONDOCTORJ 9 months ago
Thumbs up if you like Peter's Gekko look!
exitiummagnum 9 months ago
so with nothing but a 401k that can only be placed in bond or mutual stock funds, what's a guy to do?
imirish2581 9 months ago
@imirish2581 transfer your 401k into an IRA at a financial institution that has a gold mutual fund. i transfered to fidelity,com and contribute monthly into their gold mutual fund. (sorry, don't have the ticker symbol handy). good luck.
PaulbylPaulbyl 9 months ago
You always speak the unvarnished truth.
Much respect, Mr. Schiff.
Korrath 9 months ago
Richard Nixon should have been Executed on the White House lawn for all his shit and then and only then would we not have had a 911 FIASCO letting little george and cheney BLOW UP BUILDINGS and get away with it....
BabylonsKing 9 months ago
@BabylonsKing
Snap the pills in half next time.
RavingDissension 9 months ago
I heard it costs $7 per oz to mine. Why should I buy silver at over $21? For instance, Kyosaki is now recommending Copper and Natural Gas, over Silver. Yes, I know, the end of the world is coming, and paper is worthless. But, how true is that? The silver market seems very emotional, and maybe could sell off to $20 or below, if the herd gets scared. I have trouble investing more in this market.
safeinsuburbia 9 months ago
@safeinsuburbia You shouldn't. Save it for me. But seriously the price has nothing to do with the cost to mine it. For example a new nintendo 3ds cost $250 but only only costs nintendo half that to make it. The price of a product comes from supply and demand not the cost to make it. The high spread could make other people want to open a mine to mine more which would bring down the price but this would take years. There is a lot of red government tape in the way.
dpla5762 9 months ago
@dpla5762 Why pay $50 for a coin, when a company can dig it up for $7? Doesn't this mark up seem excessive?
safeinsuburbia 9 months ago
@safeinsuburbia Why pay $100/bbl oil when it only costs $10/bbl to drill it?
yuppyguitar1 9 months ago
@yuppyguitar1
Exactly. Just wait for it to go to $30 again.
safeinsuburbia 9 months ago
@safeinsuburbia But it isn't going to. Thats what happen when a currency is destroyed.
yuppyguitar1 9 months ago
@yuppyguitar1
That's speculation of currency destruction. A deflationary panic would quickly send commodity prices down, again.
safeinsuburbia 9 months ago
@safeinsuburbia It isn't speculation. You can view the fed's own data of the monetary base.
yuppyguitar1 9 months ago
@yuppyguitar1 The fed isn't out of tricks. I'm sure they've got more rabbits in their hat, than even Peter Schiff can imagine.
safeinsuburbia 9 months ago
@safeinsuburbia The fed only has one trick, and they will continue to use it, because thats the only thing they know how to do. That isn't the point. They've inflated the money supply, so there's no speculating that they've destroyed the currency, and that's the reason everything is so expensive.
yuppyguitar1 9 months ago
@yuppyguitar1 So, they can't raise interest rates?
safeinsuburbia 9 months ago
@safeinsuburbia No, because the bubbles pops.
yuppyguitar1 9 months ago
@yuppyguitar1 You mean all the commodity bubbles, too, right?
safeinsuburbia 9 months ago
@safeinsuburbia Commodities are high because investors realize the dollar is worthless, not because they want to jump onto a trend. How many people on the street do you know that own wheat futures?
yuppyguitar1 9 months ago
@safeinsuburbia No, commodities are the only things that are real, everything else is worthless.
romanmir01 9 months ago
@yuppyguitar1
watch?v=v-WB3fVUr5w
Pop
safeinsuburbia 9 months ago
@safeinsuburbia He's confirming what I just said about what happens if they raise interested rates, but he didn't give any time line, and his argument was just that what goes down must come up. The fed has backed itself into a corner. Nobody wants to buy bonds, in fact, PIMCO is outright shorting them now. And given our annual deficits thanks to Obama, we can't afford high interest rates. Bernanke wants stable prices and employment. You think he's gonna raise rates?
yuppyguitar1 9 months ago
@yuppyguitar1 I have no idea. I just remember the old saying: "Don't bet against the Fed." I would be surprised if they don't have a surprise for us inflation hedgers. I'm going to sleep now. Goodnight.
safeinsuburbia 9 months ago
@yuppyguitar1 death of the dollar, fed will keep throwing money at the bond market to keep rates down, uf they do stop QE it will only be temporary for smoke and mirrors
decepticonsofnwo 9 months ago
@safeinsuburbia with china talking about converting a third of its dollar holdings into gold roughly a trillion, what if the dollar goes pop, short term the dollar has rallied but long term the dollar has been and is in bear mode,
decepticonsofnwo 9 months ago
@safeinsuburbia
It costs 7 dollars to mine, but how much does it cost to mint the silver into coins or bars and how much demand is there globally for silver for industrial purposes? Silver goes up in value based on its supply and its demand. Just because it costs only 7 dollars to mine doesn't mean its not worth well over 20 dollars an ounce. The reason why it costs over 30 dollar an ounce is because people are willing to pay that price based on their lack of confidence in the dollar.
mjuslen 9 months ago
@mjuslen Ok. But why invest in Silver with a 7 or 8 times mark up, if can buy other assets at a smaller mark up?
safeinsuburbia 9 months ago
@safeinsuburbia because people want more silver than is mined you moron. That's the demamd
pianowitz 9 months ago
@pianowitz First off, name calling only shows the (lack of) character of the person doing it.
Yes, I understand it's demand. That is obvious. I guess my question is: is the demand rational? It doesn't make sense to me why people would pay $50 for a coin that costs $7 to mine. The purchase can make sense at $14 or even $21. But $50? If it's to hedge inflation, wouldn't it make more sense to invest in a less crowded asset, with less mark up?
safeinsuburbia 9 months ago
@safeinsuburbia Name calling is in order, when you ask such a juvenile question.
Silver and gold are the main hedges of inflation because they are the most easy to turn back into capital. The price is not marked up, it is simply the demand. As more people see fiat currencies for what they are worth, more people will want to hold real assets, particularly gold and silver. So if you are measuring PMs in fiat the price may be going up, but that is just showing fiat debasement, not silvers value :)
pianowitz 9 months ago