Dollar rally, housing sales, record treasury auction, moral hazard

[WhoIsPritishWain]

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[bellcord]

Looking at the investment blogs around the net it seems most of the people who invested with Petey here were lucky to get 40% of their money back...Also his run for US Senate has him losin' by 38 points to a professional wrestling promoter for Gawd's sake...Apparently the good people of Conn. know something you don't...

[louiethegreater]

High Dollar houses are being bought by immigrants entering the country on the

H1B visa programs. Filling high tech jobs in the medical industry, and silicon valley type industries.

[Intervene]

Very good video Schiff

[jjenson2006]

I haven't seen one bad Schiff video, have you?

[nate850r]

hes spot on, easy to understand, and well thought out

[fiveminuteplan]

Of course, what they COULD do is cut spending, lower taxes, end subsidies and put interest rates through the roof.

The economy DOES need a stimulus right now: a stimulus in private capital formation. A stimulus from foreign investors in American businesses. A stimulus in production.

[666sigma]

THEY CAN DO SOMETHING.

THROW THESE @SSHOLES IN JAIL. ENFORCE SOX AND HOLD THE CEO AND CFO RESPONSIBLE.

What Wall Street and the Banks did is criminal and they all belong in jail - real jail - b*tt f*ck jail,

[kmg501]

Peter never fails to amaze me for being the most rational man on the scene.

I look forward to seeing Peter win that senate seat and helping to save this country from the abyss.

[marniespeaks]

we are not going to pay anyone back

[njcarlos1]

Thanks for the update Mr. Schiff, hope to see more videos from you. I enjoy your perspective and almost always wholeheartedly agree with your take on economics and politics.

[wille35]

I've been following you for the last couple months, not because i hear what you say and then go all go gun ho. I follow you because I think it appropriate to gain every single view point on the economy in order to be credible. My question right now is this. I'm in school right now and I'm an econ major My intermediate macro econ professor has been saying that government spending is more effective at stimulating the economy than lump sump tax cuts, from a demand side perspective.

[robvh2]

The government CAN dump money into system faster than lower taxes would add to citizens' their bottom lines. But what's the net effect?

This rapid stimulus smells like "free money" and people may spend it which tickles the economy... only to come right back down again once the stimulus is gone and people must return to spending within their limited means.

So what has the government achieved?! A TEMPORARY bounce and MORE debt and inflation. Get ready for the hangover of a lifetime!

[robvh2]

Who ACTUALLY benefits from pols goosing the economy? Taxpayers get some "stimulus" and spend it all as they're encouraged to. Good sheeple. They're left with nothing at the end of the day except more "stuff" that will decline in value.

But the markets go up and the pols can take credit for "fixing the economy" and win votes! They've essentially bribed the population too.

So the POLS win and some shareholders win temporarily, but never the people. In fact, inflation will leave them poorer.

[BillyJHoward]

Mr. S - I think it is GREAT that you have not derailed fans like me that watch you EVERY DAY to gain insight into the daily economic goings on to push your new political campaign agenda. People like me [who gain from your economic insight] will be more inclined to assist in your political career agenda. Thank you Peter. You are not like the rest of those seeking office and you proved it to me here in this video... I'm sending my check on Monday because I NEED for you to win...

[2uberu]

Mr.Schiff, I hope you are prepared for personal attacks by the media. That's the only thing they now how to do when you go against their mindset. Good Luck! and God Bless!

[RAMKING61]

The Fed has been buying 8 stocks since the March 18th stimulus fakery: Citigroup, Fannie Mae, Freddie Mac, Bank of America, General Electric, Sprint, Pfizer, and Coca Cola. These stocks represent 70% of total volume!

[terr547]

Do you chew on something when you make videos? It sounds like you're sucking on a jawbreaker or something.

I hope you're not doing that to hide something.

[michaelpshipley1]

talking about chewing, i was wondering. if it gets bad, how do you eat bark? do you boil it? fry it? eat it raw? does it have a lot of carbs?

according to that video i saw on beck (what's it called? i hate capitalism? something like that) we're almost out of trees. if thats true, where can i find some bark? not some of that new fangled bark from those fake new trees, i want some old bark like my grandfather used to eat.

[McRocket]

Thanks again and take care Peter.

[g00se99]

Hey Peter,

Your always welcome up here in Canada. I wish we had more people like you in our gov't. Watching the US from here has given me a huge appreciation for free markets, less gov't and the US constitution. Canada has got to decouple and diversify our trade to minimize our exposure to the coming US disaster that is coming over the next decade. Listen to this man my friends in America, he might just be one of the key figures who can actually help you!

[mrzack888]

amazing, 5000 views in just one day.

Peter is getting popular. don't take the vaccines Peter. we have to keep you alive and healthy.

[89integra123456]

If Bernanke says we are tech out of the recession because GDP "growth" is going to be .001% this quarter... he is clearly lying.

We know US population is growing by 4%+ every year

Inflation is 4%+ every year.

Above we, need at least an annual 8% increase in GDP to have any real net per capita growth... (end a recession)

When GDP increases by 3%, and inflation is 6%, we have negative growth!

[89integra123456]

New home sales were about 440K last month. If US population is 300 million, and half our population is elderly and children... we have about 150 million adults.

With 150 mil adults, we build (add to the market) just under 1/2 a million homes every single month, or 4% a year. Meaning the population has to be going up 4% a year. If the government is so proud to say GDP is going to grow an avg of 3% a year... then REAL per capita GDP growth is NEGATIVE! What a joke.. the lies, the lies!

[soundmoneyfan]

everyone give a few bucks to peter's senate run!!! it is the best investment i can think of!

[rexoid]

Keep 'em coming. Just a comment for the count after reading all comments here.

[kingwest700]

BUT, if the American dollar falls, wouldn't that mean Americans would not be able to afford to buy florin products and therefore force more domestic production?

[kev492001]

Nice job on CNBC dude, I watched you and you was right the whole time!! After you went off then they continued Aaron and the big guy (forget his name) said "well Pete has been right on all this lately". I just laughed and said "no way".

[aw3212]

theres no way the Chineese are that stupid - what are we promising/giving them behind the scenes? Or is the Fed the real buyer - again behind the scenes?

[aw3212]

I agree about the $8000 credit affecting sales, and the FHA market, but I think it also speaks to wages and opportunity in the job market. The higher price homes don't have buyers because wages are way down, business owners (who buy these big homes, etc) are down, so they cant afford them. Its yet another reason we are still in for a downward correction in home prices. Also, tax revenues for states and the fed gov will be way off this tax year which will catch up to them in 2010.

[SouthFacedWindows]

Get a better mic Pete. BTW always good to hear you

[whittonmatt]

Your a legend Peter..keep it up..THANKS!

[mark7996]

I think it was reported that the dollar rally was due to the G20 summit discussing rules on how to regulate leveraging more stringently which spooked some investors into safe haven currencies.

[michaelpshipley1]

rand is on fire! its probably the hair cut.

peter paul and randy 2012!

[fluff125]

Dammit you guys, Rand Paul is beating us at fundraising. Are we gonna take that? Donate now!!!

[zeryphex]

The reason Dr. Rand Paul needs more $ from fundraising is because he can't contribute as much $ from his own pocket as Peter Schiff can. Peter Schiff probably makes more $ in the brokerage and investment business than Dr. Rand Paul does in the health care industry.

[fluff125]

Schiff's race is much much much more expensive than Rand's race. Linda Mcmann is going to be spending 25 million dollars, douchbag Dodd is going to be spending up to 30 million. Peter may be a millionaire but he still rents his house. Keep that in mind.

[jc3mer]

for real??? why the hell would Peter rent a home? i thought this guy is loaded loaded..

[NicoBanTyralash]

Buying a home isnt a good investment. With the money that would be spent on property taxes, repairs, and other external costs you can invest in assets that appreciate at a higher rate than inflation. With the added bonus of not having the headaches that come with owning a home.

[zeryphex]

Yeah; Peter Schiff is probably waiting for the bottoming-out of the housing market. A house would be a lot better of an investment if bought at its lowest price.

[NicoBanTyralash]

Buying at the bottom definitely wont hurt. But I think his reasoning is that over the long run housing prices historically tend to rise as the same rate as inflation. So in real terms they generally dont appreciate very much if at all. So his money is better served elsewhere.

[zeryphex]

Good point. Offshooting from that, what about housing in densely populated areas like in Europe? Wouldn't a house's/property's value go up in real terms due to less available land?

[NicoBanTyralash]

That would seem logical, but Im not sure. I think people tend to just move further away and commute if it starts getting expensive due to overcrowding. But if demand remains steady or increases, less supply will definitely raise prices.

[jc3mer]

ok fair enuff but i mean he has money to spare to spend on buying a home and the money you save on rent can go to all the money that you spend on taxes, repairs, etc and then there's the point that zeryphex made... as suburbs get more densely populated the price of land rises cause now you can build townhouses/ flats/ (eventually skyrises as in how cities start) etc... not arguing.. just tryin to understand y a man that could easily afford a home not buy one :s just doesnt seem to make sense :s

[n0us3rn4m3s4v41l4bl3]

"we made it through another treasury auction where people were foolish enough ... to be there."

rotfl

[cmstyz]

"We as American taxpayers are obligated to pay that money back"

That has always been my impression, but Karl Denninger wrote this today:

"It is Congress that has the right to borrow money, not Treasury. Those are very different branches of government (legislative .vs. executive.) Ergo "Treasury Bills" are in fact, absent explicit authorization (and no, a "debt ceiling" is not explicit authorization) unenforceable against The United States"

What do you make of this observation?

[JakeJarmel]

Absolutely right Peter. The die has been cast with the bailouts that already occurred and bailouts are the name of the game now. The biggest rulebreakers know they can get caught redhanded and their fairy godmather (BIG GOV.) will be ready to make it all good again. We don't live in a free market society. It's now a bailout society.

[Paulintheoh8]

Thank you Peter! I know it may be tough asking for money online, to people you don't know, but you gotta and we are here to help! Keep it up! Thanks!

[bilpayne]

I will buy some more gold when it hits 1050 or if it falls to below 900

[orangeman4242]

Why wait until it hits $1,050? Why not just buy it now if you foresee a rally?

[bilpayne]

It needs to take out the all time high of 1033.90

blast through that residents it can climb fast for now it gets much over a 1000 someone sells I am talking about Futures not APC for now I see lot of place trying to buy reclaimed gold that is a sign it might be to high for now shorter term copper looks good

[addiktion13]

Perhaps they aren't foolish. This is the way Asia sees themselves exceeding the US. Buy Treasury Bonds and dump them when the time is right. Our Asian friends are not stupid. They save and they know where they sit financially as producers in the world. They will grow tired of financing the fat American and let him eat his own bones when they are ready.

[lindabebe835]

Thanks peter for all the great info

[VictoryCough]

I'll be up for class at 10:20, so I'll be sure to catch peter as I am eating breakfast.

[skliros]

inflation will skyrocket, once we see real recovery, and people start over-speculating on future prices.

[pirucreek]

Near perfect sermon today. Glad you gave up the idea of us defaulting on its debt. , and changed it to only a sucker would buy it. BTW, the is an excellent chart on us debt wikipedia. Estimate oWnership of Treasury Securities. Giving the breakdown of individual investors, foreign countries, ..., on who owns the debt each year. Foreigners and the Fed itself have increased their share over the decade. While investors has dropped from 12% to 4%. government is ruling.

[lenny380]

More words of wisdom - amazing everytime.

[dragonflychainsaw]

so once again big corporate wins and more debt gets piled on the backs of the tax payers the time has come for us as voting tax payers to rid washington of the politicians doing this it is the only way it is going to stop and we simply cant afford to do it any more it is a dark chapter in our history

[laosuwan]

for a guy so obessed with the long term Peter does not talk about inflation too much any more. wonder why? Maybe because there is none? one thing I do like about his videos is that he always knows what day and time it is.

[thebruno44]

He does talk about inflation. He says it's a sure bet in 1-3 years. America is so short sighted. BTW - aside from today, have you been watching gold?

[bdc03]

We already have inflation. We just aren't seeing the effects yet.

[mustang607]

Did anyone see Simon Hobbs on CNBC's Fast Money on Tuesday? He seemed worried about US policy and the media.

You need to build this link to watch, cnbc c o m id 32968762

[chriswroads]

Speaking of housing 7 million properties that are likely to be seized by lenders have yet to hit the market. Add this to what we already have. And you will have a MAJOR correction. Im pretty sure this is why banks dont foreclose

[Burt1038]

Not to mention what that will do to civil unrest when seven million families are kicked to the curb, and rents skyrocket.

[justl00knout]

If the dollar does collapse, there could be succession from states if not regions from the union. If that did happened...whats left ? IMF? maybe SDR's with the yaun in pole position...IDK... I love conjecture... Maybe each state and or region will use the resources that they have, and pay down their debt. Some states or regions would come out of the collapse fine, but what of the the ones that dont? Im thinking liberia....0.0 idk...

[InTheSticks1881]

In this region we might indeed be better off. With oil, coal, important minerals, lumber, ranches and farming and no debt in this state and others in the region, we might be okay and certainly better than being taxed with inflation and choked by Federal regulation. A regional currency backed in part by oil or basket of natural resources could be adequate.

If I thunk it, others have already thunk it or are thunking it.  :O)

[bilpayne]

I think local banks Should be write there own notes money with a limit of 5 to 10 times of there

holdings in gold Silver land & other real proprieties

[InTheSticks1881]

That would tend to be a local currency and it might work to some extent. Better than nothing I suppose. Unfortunately precious metals are not widely owned. A commodity based currency might also prove to be problematic, yet just as stable as states within the region would collectively provide a substantial percentage of available resources within North America.

Well all this is a bit beyond my ability. They'd hafta brainstorm this, yet one can see there could be viable alternative.

[michaelpshipley1]

how much do you think we can get for hawaii? or california? im almost serious.

[afsoldr]

I'll go for a sale of CA, but HI does have nicer beaches and better surfing, and no forest fires.

[michaelpshipley1]

id hate to see CA go but if they need a bailout only foreigners can do it because only they have real money. all the feds have is worthless paper. maybe we can lease it for a 100 years like the brits did with hong krong,

[IronTapeProductions]

Peter... try getting on Bill Maher show or something. Educated some of those misinformed and blindly liberal idiots. I would push for media outlets and that's not a bad place to start. Bill has a big audience. HBO is respected.

[mustang607]

This debt is starting to sound like a national security problem, like oil is. If the Chinese, Germans, Russians, Japanese and such don't continue to transfer their wealth for our IOUs, the great U.S. war machine may collapse.

[laosuwan]

throughout history, all great powers have collapsed at the peak of their military greatness.

[john5246]

To be honest I see America falling just like Russia did...you can expect us to default on our debt. It's stupidity that causes all this, complete incompetency by the government and more importantly the lack of control the citizen's have by relecting the same damn politican's over and over again. This is all our fault, everyone who's readying this right now! Because we let's this go on.

[michaelpshipley1]

its not the fault of the american citizens that the federal government has gone bad. powerful federal systems never work in large population countries. when we were small, it worked. when we got too big it went bad. we should of just stayed like we were before the constitution, a confederation of states. all we needed was a nato like structure for a united defense, not an all powerful federal government.

[bertly71]

I like your ideas. Excellent points. I guess it is human nature in many cases to expect more from the government than it can afford to give?

[michaelpshipley1]

i think humans are just not capable of understanding things that are too large so they disconnect. its like the universe. its so big you cant get it into your head. each galaxy has 100s of billions of stars, and there are 100s of billions of galaxies! its just too big to imagine much less control. all governments should be small and local. ever notice its only the federal government and the huge states like calif and ny that have all the trouble? nothing happens in idaho.

[bertly71]

Your ideas have leggs. I have some people in my life that are very intellegent, capable, and well educated. They have this disconnect when it comes to government and politics. You really can't get them to engage their minds when it comes to what is happening until it hits them hard and directly in the pocketbook. The path we are on will eventually get us all in wallet either directly or indirectly. People in that 35 to 40 percentile that pay no net federal taxes think it does not get them.

[jc3mer]

its not human nature.. its just that people are brought up that way now on...

[bertly71]

Good point.

[rexoid]

Before the constitution, all we had was war. No argument with your bigness stuff, but given the relity, rather than the 'shoulda" stuff: the constitution is the only tool we have left to win with. It signaled a world paradigm change that gave us a shot.. OK..we have screwed it up, only the constitution will give us another shot.

[michaelpshipley1]

"Before the constitution, all we had was war."

not with each other. the only good reason for the constitution was to have the authority to tax the states to defend the nation against external and internal threats. all the other powers are what led to the constitution eventually becoming too powerful as we see today. to put it simply, the anti-federalists like patrick henry were right.

[rexoid]

I think that shorts the constitution. Not with each other? Debatable..and we would have to define "each other." Many of us were part of the competing colonial spheres.. before opposition to them, or better said: before successful revolution which produced the constitution and the BOR amendments to limit power of government. . No argument with the Patrick Henry line, but .."too powerful" ? Not powerful enough is my take when it can be ignored by the central Gov or parties of it.

[michaelpshipley1]

no matter how powerful the words if you can just ignore them then no words are powerful enough. the only true guarantee of freedom is physical. with separate physical states competing with each other, if a state violates its constitution and things start to go bad, you can just physically leave and live in a better, more free state. with a federal system, if it goes bad, all you can do is leave the country. not practical.

[michaelpshipley1]

if you want to get on the roller coaster again then we can give the constitution another try. but why not take this opportunity to learn from our mistakes instead of repeat them? what system works the best to ensure the best political product at the best price? competition! why not have a free market of states? each competing with each other. maybe the states would combine into regions?

[rexoid]

Sorry.. i think that is the justification that evaded the constitution. Stronger states, weaker central gov? No need to dump the constitution, or the union for that. Amend it. As soon as it is totally dropped we are toast.

[michaelpshipley1]

why are we toast? where do you live? in a community. where is that community? in a state. without the federal government nothing would change except we would all be better off. each state would then be able to decide how it wants to handle entitlements, its economy, everything. nothing is perfect. there will be problems, but a powerful federal system, as we now see, is not the solution.

[rexoid]

There is nothing in your last I disagree with. However, coma.. all state have constitutions, and if the feds go limp in the night..they would have to be uddated to cover the basic BOR things..or thre would be unrest..heck..I would lead it here. am in SC ..i have read the state constitution..and it has shortfalls in many areas covered by the BOR. Use the opportunity to update? No argument from me. A new association of States? ditto.

[jc3mer]

i think it already is and i think china's set to take its place.. not anytime soon but yeh

[Paetaor]

Don't worry. Last auction the Fed bought back 47% of the 7 year bonds within 10 days anyway.

And I think that Fed purchases are listed as foreign somehow anyway so who knows who bought it.

[lizadfuel]

They do it through primary dealers, then buy back the debt.

[vesnasvati]

A Deed in lieu of foreclosure is a deed instrument in which a mortgagor (i.e. the borrower ) conveys all interest in a real property to the mortgagee (i.e. the lender) to satisfy a loan that is in default and avoid foreclosure proceedings.

[ThebigTH]

hello everyone. do you think its possible that china is still buying US debt, because it is delaying the crash of the US dollar to allow time for itself and ts citizens to take a satisfactory position in gold and silver. then when they are happy with their holdings, they will start to sell substantial amounts of their US treasury bonds, hence beginning the real decline in the dollar, and leading to a rally in gold and silver. the balls partly in their court if you know what i mean?

[Anythingwilldo41]

yep

[laosuwan]

yes, that is what they are doing. but dont read too much into it. a lot of their purchases are made with interest from bonds already held and maturing bonds being rolled over. there also is not a lot else they can buy at the moment. but the chinese never do ANYTHING that is not strategic, and they think long term. at some point we will learn why they are still buying our bonds. it will likely come as a surprise we never saw coming.

[lizadfuel]

The index tested high 75s and history will repeat itself. The dollar will continue it's decline and will be worthless, just like every other fiat currency.

[vesnasvati]

I know somebody who did a deal where they gave up the deed to their home so they wouldn't be forclosed on and I believe they got the house back after the price fell and they could get a different loan AND likely use that govt money.

[Dziaji]

What do you mean by "gave up the deed"?

[gt0703]

I really appreciate these blogs. Thanks Peter.

[dukee155]

ughh i am lossing money off of agq the dollar BETTER GO DOWN

[nonantianarchist]

Well...there's one way the government could diffuse the moral hazard: It could forbid the banks that got bailout money from ever lending again.

But then, that would kind of defeat the purpose...

[blueghist]

Look for the FHA to want a bailout ; /

Good video

[Nickelodeon2002]

I love Peter. I only have one small disagreement with his viewpoint. I don't see the US gov't (or its citizens) actually paying anything back....($530,000 debt per taxpayer...what a joke!)

The dollar will collapse and I suspect a general default along the way...probably a different "dollar" will emerge...unfortunately the path to it and after it is economic disaster...but it is what it is.

[sandandsun]

Peter, thank you for putting everything into perspective, once again....

[bilpayne]

CNBC is sucks up to Obama so much now

I watch FBN

[narutofan1108]

My school has a Federal Credit Union. Should I join? What are your thoughts?

[Atoyota]

I saw that Julian Robertson Cnbc video.

it doesn't bring up all the problems, like the consumer outstanding debt, and the affect on the economy that has. But it is good that now more people are recognizing real problems and not ignoring them.

[TheLiberalssuckdick]

You know that Bear Stearns (JP Morgan Chase) assets are still losing money since March 2008. It has to be

[halfasheep]

eight

[TheGreekMobsterr]

LMAO im dieing over how he said "NAH of course not!"

[shockinggenius]

i just realized why i love ur video's peter, bec u dont read of a teleprompter like everyone else in the media

[bowtie728]

mish endorsed you for senate. just a fyi

[0urGaia]

australia has had first home buyers grant of 14k for a long time. Many say that the grant causes low priced homes to increase in cost by 14k, so the effect of the grant is to increase house prices, not make them more affordable.

[jc3mer]

yeh but i think theyre getting rid of it now or so ive heard

[0urGaia]

don't listen what they say, only what they do.

[jnadreth]

Thanks Peter...no doubt that many people will be thinking "Oh why did I not listen to his advice then" when they have nothing after all this hits...Thanks Peter

[libertyplayground]

hazard not hazzard.

make sure to check your spelling...

go schiff

[michaelpshipley1]

everyone should install google toolbar. it checks your spelling as you type.

[DNATS]

No thanks, google toolbar is a spy-ware if you if you haven't notice. Install Firefox 3.5 or Opera 10 instead. They come with spell check.

[michaelpshipley1]

theres an option to not send info to google. i trust them.

[DNATS]

Even if you unchecked that option, I dare you to check your task manager and look for an process call "google update" running in the background. Anything that runs without the user's permission is a no no. Who knows what they could be collecting and sending in.

[michaelpshipley1]

firefox has an update funciton. most all software has an update function these days. it all comes down to trust. i think google is just as trustworthy as firefox.

[jc3mer]

wtf? do you honestly mean that or you just being sarcastic? their toolbar and browser both tab you

[michaelpshipley1]

you dont trust google? do you trust online banking? do you trust web sites with a your user name and pw? if you do then why not trust google? if not, then that seems a little paranoid. some sites i trust, others i dont. i trust google, they have a good reputation. the damage google would do to their business by selling or using your browsing info in a way that violates their agreement with you would outweigh the benefits. and you can opt out if you wish. i see no problem with it.

[jc3mer]

im not talking about the company as a whole.. im talking about their toolbar and web browser... its their agreement thats concerning not the idea that theyd violate it

[michaelpshipley1]

you can opt out. its a check box in the options.

[rizwan55]

The foreigners buying the useless T-bills are not the Asians..these ''foreigners'' are the big banks on Wall Street..the Fed is forcing them to channel excess reserves into treasury bonds in exchange for bailouts..basically put, the Fed instead of directly monetizing the debt, is getting the banksters to monetize it for them!!..

Shouldnt come as a surprise to those who are aware of how the government routinely manipulates CPI, GDP and unemployment numbers!..

[dudebud007]

while this is the kind of a scam that these guys are so good at......that thing should be investigated more....cause all we hear is.....10B sold, 20B sold 30B sold etc....

but what fucken people or what fucken countries are buying all this ??? i dont see anywhere any more details about these bullshit auctions !

when i think of an auction I think of bunch of people in a room and a guy on speed ....why arent we seeing how these auctions are actually conducted ? ? ? ?

[rockhuddy]

I suspect the majority of bond buyers are our own and foreign central banks, either directly or indirectly. The world's central banks all work in concert, and they print the money to buy the bonds so there's no real risk of loss. The big problem will come when they, again in concert, all stop buying bonds at the same time. It's all part of the plan to replace the dollar with a new global currency issued by the same powers behind the central banks.

[john5246]

It's central banks from around the world who are buying at the auctions. It's not like a car auction or art auction where you have a guy mumbling off prices. They know how much they want to buy and they bid.

[dudebud007]

and how the fuck would any of you know how the buying and selling is done ?

have either of you 2 bought any t-bills lately ?

[rizwan55]

the major "foreigners" of these useless auctions are located mostly in the off-shore tax havens..namely the British channel Islands and the Caribbean banking centers..ever wondered what rich country is there in the Caribbean that can afford to bankroll the US economy?!!!..

reality is there is none!..the Fed is just printing loads of cash, shipping off sums of it through the i-banks to these off-shore havens..these havens then turn around and buy the T-bonds.. giving an illusion of 'demand'!!!!!

[nkosev]

The road to hell is paved with good intentions ...

We lack even the "good" part in Fed intentions but the direction is the same :)

[bajoverga]

sixth?  SCHIFF FOR SENATE!

[Annihilate3275]

Great video! Who cares what order your comment is, by the way.

[mattgeb84]

sixth

[SolitonPL]

Fifth