@americanbandwidth No. Nobody who believes that is selfish. Anyone who believes that is the exact opposite of selfish. How could believing something that is completely self-destructive ever be selfish?
@americanbandwidth That is self-destructive. Selfishness and self-destruction are mutually exclusive. There is no way you can be looking out for your own rational interests while doing something irrational and self destructive. When I go to work and earn money for myself to enjoy, I am being selfish. When a fool goes out and buries himself in debt, he is being the exact opposite of selfish.
@mrrobotica When the debt payment is more than the amount that is brought in every month and people still want all their bells and whistles and the expense of other people. That is Selfish.
Debt is not Wealth, Wealth is Capital, Capital is anything you own that has value.
Debt is, You being the Steward of the item until it is paid for.
@americanbandwidth You seem to view selfishness as an inherently bad thing and think that self-destructiveness and selfishness are not mutually exclusive. A man may be trying to make himself happy but if he is failing at it and making himself miserable (as foolish debtors ultimately do), he is not being selfish.
how is spending yourself into debt (to have & enjoy things you cant afford, just for the sake of having them right now) any less selfish than spending money that you do actually have?
more impatient, & possibly stupid (if you can't service your debt), perhaps... but no less selfish.
being selfish doesn't necessarily mean you always look after yourself.
You are doing great Peter! According to Google Insights, you are almost as popular as Snookie!!! It's baffling that more people type in her name on Google then yours, but all well, that's America and the power of marketing for ya! Thank GOD Ron Paul is more popular then her :)
It sounds like he's semi-predicting the economy will continue to submerge as the feds print more and more monies. Inflation for the poor, deflation for precious metal holders. Does he also predict a collapse as others are suggesting? mid - end of '12 is what Celente is suggesting, IIRC.
Why Japan has never been big on precious meta investment ? There are only 3 trusted companies where you can by metals from with minimum of 30kg purchase on silver plus high premium and tax. No one wants them.
The financial impact of Japan tragedy is probably 3 to 6 months for the USA. The collateral damage will be discovered over coming weeks in Japan and eventually travel through the supply chain. Problems/ costs are compounded as they move to each point in the logistics supply chain, so it takes a while for those on the receiving end to see the damage. We are at the end of the Japaneese supply chin and when it hits, it's going to be a very costly suprise for US businesses
Thanks for sharing your common sense here & allowing comments too.
I think it would be an economic boom, if USAF bombed city of st louis mo, Washington DC, & Detroit butt please don't warn the residents, or businesses, because they are huge parasite on USA economy. Take care PS.
Japan is a export based economy that's why their afraid to raise rates. If yen is to expensive the japenese goods become more expensive on world markets and people will begin to buy from other nations
Friends don't let friends buy silver (or any precious metal) at retail! That's my motto! If you're interested in buying silver at wholesale price, send me a message. No minimums or maximums!
"YOU MUST READ THIS IF YOU CARE ABOUT YOUR PURCHASING POWER IN THE US DOLLAR. Check out my channel I have videos of peter schiff, he is a pure genius that predicted the housing bubble economic depression of 2008 and is predicting a much larger collapse of the US dollar in the near future"
The problem with this guy is that he sees everything in black and white when we're all in a grey area.
He talks about copper and commodities as if Japan is the only nation in this world!
Secondly, he talks about Japan needing to shrink their currency in this time of crisis... again, a bunch of boloney since this is exactly what exacerbated the Great Depression.
His final comment I believe is correct, which pertains to the US foreign debt. We are headed toward a massive devaluation of
@skreese33 Hi there just wanted to point out that before the great depression the economy was growing and there was a sudden tightening of money supply because of the speculation the rotschild spread. So my point is that when the economy was doing well b4 the depression why was the money supply tightened? Shouldnt it be expanded instead? Peter pointed out that the purpose of FED(applies to all central banks) was to tighten money supply when there is a "disaster".
@101simar Pre-GD growth was from govt's counterfeit money and govt's counterfeit bank accounts. Growth is not always progress. Producers goods (houses, stocks, etc.) were increasing, not from savings, but from govt money & credit inflation. Monetary and credit contraction was needed for equilibrium between producers goods and consumers goods. There was no possibility of avoiding a depression to shift resources back to market-determined production instead of govt-determined production.
abc, nbc, fox, ch9. cw, and all the rest of the media that takes orders from the rich stop tell the public lies we see past that shit is about to hit the fan in our home land thanks to the fed.
Japan already has a high savings rate and an increase in interest rates would cause the rebuilding effort to be that much more expensive. A lot of what was damaged was long term capital structure, nobody buys a nuclear power plant outright, it has to be financed and higher interest rates would make the rebuilding of these projects cost a fortune. Nearly EVERYTHING they have to do requires long term financing, low interest rates are what is needed as well as liquidity.
It will probably lead to more jobs in the US since they are going to have to import a lot of heavy equipment and building materials. It won't be a great deal for them, but everyone who sells Japan stuff should make out.
Note on 5:00 : essentially what this means is that instead of increased consumer spending that you would get with low interest rates, we should focus on allowing businesses to get ample acces to money so that they can invest and create jobs. How? By giving them acces to loans from banks. How? By making sure that the banks have loads of money in them. Well, how to banks get their money? By savings accounts! And why would people invest in savings accounts? LOW INTEREST RATES! It's that simple!
Can somebody direct me to a good discussion on the fundamental economic reasons why the convergence should happen between the DOW and the price of gold to where the DOW is worth an ounce of gold? I have heard that argument many times but don´t remember having seen a good step by step case being made for why it should reach that ratio.
On another note. Who are those creeps behind the SchittReport and related channels here on youtube? I would really like to be able to block them from my searches.
Peter: What happens to the economy, and most importantly the precious metals market? what will happen to price of silver and gold when interest rates starts going up?
Are you guys still masturbating to hyper inflation, dollar collapse and Gold? You just Keep on waiting day after day after day after day and still no US collapse dam! ROFL
Wow, you really got them. Be sure to trade in all your hard assets for dollars and then you can really show them! "collapse" is objective. You will be paying $20 for a loaf of bread with all your taxes going to pay off interest on debt eventually and you will still be babbling on youtube saying "see, we are still on the map...right here..look". LMAO You are ignorant
@999silverrush No I stopped that a long time ago! From the looks of things you are doing real good picking up the slack for me ever since I left Ignoranceland!
@XESTISS Wow, you really got them. Be sure to trade in all your hard assets for dollars and then you can really show them! "collapse" is objective. You will be paying $20 for a loaf of bread with all your taxes going to pay off interest on debt eventually and you will still be babbling on youtube saying "see, we are still on the map...right here..look". LMAO You are ignorant
@999silverrush Wack Wack Wack o the collapse is near Wack Wack Wack O look at the gold wack wack wack mmmmmmm.... baby you too silver wack wack!
Do me a favor when The collapse happens be sure to send me a mail.. O Schitt There will be no more internet! Dam I mean smoke signals to let me know that hyper inflation is here ok??? Could you do that for me? Now go back and wack away! R O T F L M A O!!
So where do the opportunities come from today? Appears as though commodities are going to move even higher now because of the rebuilding. Waste disposal and recycling companies should benefit in Japan, but that isn't easy for the American investor to find, research and buy. Any ideas?
Hi Peter! You need some blue floods or yellow on wall behind you- terrible graphic effect - you blend in so that the whole impression is BLAH! so please change it pronto as I am an artist and have to wander off before I get sucked into the blah vortex!
yahear Incidentally I think the Japanese are suffering pay back for their terrible WW11 atrocities they committed against the Canadian defenders of Hong Kong- they are still in denial of those heinous acts and refuse reparations
@jimksa67 as horrible as japan's atrocities are in world war 2(Canada being a small part of those atrocities). People who were not even born in WW2 do not deserve to die for that. This quake is awful.
Hi Peter! You need some blue floods or yellow on wall behind you- terrible graphic effect - you blend in so that the whole impression is BLAH! so please change it pronto as I am an artist and have to wander off before I get sucked into the blah vortex!
@TheDubCollector Peter never said that austerity is sunshine and blue sky. Austerity is the bitter medicine one must take to rid of the excessive credit expansion. UK is undergoing symptons of withdrawal right now.
@go2thebeach Just be careful what you mean by wanting things to be equal, as this also imply taking away from what could have been good. You definitely need to see the short film called '2081':
It's all easy to understand, Peter, but as you only tangentially allude to, there are a lot of "obstacles" in the way of economic events that could be predicted using good ol' solid based economic theory. I estimate that there are 47 politicians per 1 economist (of any ilk) involved in actually setting US economic policy these days. 1913 was almost 100 years ago, and a lot of shenanigans have taken place since then - political shenanigans, that is. Economic theory can't stand alone anymore
@RFox93 Thats all conspiracy theory, I have been involved with conspiracy theorist for more than 5 years and they make you believe that it is something top secret that they are telling you but it's really not. Most of what they tell you is & has been discussed in the academia and also, conspiracy theorist also cover up facts that go against their version of events. Give it some time before making your up mind, you'll see for yourself whatever I just told you. CHEERS!
Seems like Mr. Schiff doesn't knows anythingabout the Japanese economy. The Japanese are the biggest savers in the entire world that's why you have lower interest rates so that the are encouraged to spend more and not "SAVE" as he suggests. A stronger yen would decrease exports and create more unemployment and how will the Japanese then pay for their imports & there will be very little inflation as most money will be used for productive purposes. You are not an economist so don't try to be one.
@yasirjamal285 ...Seems you have been brainwashed by mainstream economic thought. Japan has implemented Keynesian policies, like stimulus, for 20 years and have not grown because of it.
@petiemac24 Japan has other problems like a broken banking system (they are called ZOMBIE banks in Japan), an ageing and a declining population, very high savings rate and a deflationary economy even AFTER 20 YEARS OF KEYNESIAN STIMULUS.
@yasirjamal285 I admire the Japanese for being disciplined savers. I don't know much about Japan's economy, but I'm guessing they also don't waste their money on useless junk that they don't need. Would America be better off if they started saving and stopped their spending?
@yasirjamal285 "You are not an economist so don't try to be one" - the definition of irony.
So what you're saying is that, to make themselves better off, the Japanese must make themselves poorer? How do the Japanese pay for their imports now? If the yen appreciates, that is exactly what they'll use to pay for imports... you've just torn apart your own argument. The only reason they export is to get the benefit of imports; achieving that end with less effort cannot be a bad thing.
4.Cheaper imports will make Japan's current deflationary problem even worse
All of that is the exact opposite of what Japan needs right now. Japan will emerge stronger from this crises as new technology will be used to plan & design cities &infrastructure which will be copied globally , Mr. Schiff are invited to merely sit on the side lines and watch
1) Everyone will be able to buy more for less labour.
2) This will free people up to do other things - mainly: not working to produce and export in order to be able to import.
3) In what school of economics is less of a cost - less work - to purchase imports a bad thing? What you're saying is that for Japan to be richer they have to be poorer.
Your whole approach is based on an ancient fallacy.
The fact you think this quake is positive is ridiculous.
@ralliart2000 And then whose going to pay the unemployed as a result of less exports, why should they loose their self sefficiency so that they could do "other things" and "less work", that would be very bad policy. The earthquake is not positive at all but Mr. Schiff's remedies are wrong
Question: Japan has alot of gov't debt,but also alot of reserves;why don't they sell their reserves and pay down their debt? Anybody know why Jpan and other countries ,do not do this?
@MEXBOL - the national debt for Japan was almost 200% gdp compared to our 40%+ and climbing faster then we can keep up with. The US mint last reported we own 149 million ounces of gold - if sold at current value (1,100/ounce) it would not even put a dent in our debt at a mere 164 billion.
Yeah, that's all very well, Peter. That's what OUGHT to happen. But we all know what will happen. The USA and the IMF will go steaming in, and loan the corrupt politicians money; and Japan will turn into Ireland without St Patrick.
@tigranvartanovitch Well put. And that, my friend is why scarfing up gold and silver IS risky, despite rational, common sense economic theory. Too many cooks sitting over this broth, Peter. Look up the term "black swan." It applies here. And remember, Peter Schiff is NOT in Washington calling the shots - and unlikely to get there soon.
Most of the world is doing the same thing, everything is gonna change when countries with high inflation and low income like China start dumping their dollars to save their economy from inflation. Then as more dollars hit the market the value will drop drastically cripling the consumption based economy we have now. What will happen next is unkown wether the fed inflates more creating a germany type hyper inflation or raise interest rates and cause a deflationary depression.
FYI>Now go back three decades, a time of galloping inflation, interest rates and bond yields. When Paul Volcker took over the Federal Reserve in 1979, consumer inflation was 13.3 percent, the highest since 1946. To shrink inflation, Volcker raised interest rates to levels not seen since the Civil War.
.As interest rates soared, CD and money-market rates did, too. The average rate on money market accounts topped 9 percent.
@RFox93 Knowledge is power , do you truly think those that own this planet allow the masses have any real power . So you give them football hollywood ect , the romans called it bread and circus . I.E keep the willing fools well feed and give them lots of trivia and you can basicly rule over them with ease . . . . Never forget what the ancients like plato ect have taught , there is an elite that maintain power create the culture thru movies , music ect , fund/own academia , ect etc
@joepeeler34 assume the did the opposite the reactor was not destroyed and they built a mass transit system with the capital they would have used to rebuild the reactor, which is Schiff''s scenario, then you have both correct, but only up until the reactor becomes obsolete at which time it must be replaced at a higher cost of capital. Those events net out, is it possible to argue that the current destruction will not increase production because you must rebuild.
@joepeeler34 You and Schiff are are arguing location overlooking the macro economic effect, which is an increase in government funded consumption. If something is destroyed and must be rebuilt it will take more resources to do so. Schiff argues that we build something else, elsewhere, that assumes that space is available. Assume that the reactor was not destroyed and Japan decided to build another, where would they put it, would it not render the old one obsolete.
Going by BLS CPI Calculator the value of the dollar has lost 85% or so of its value since Nixon took us off of the Modified Gold Standard in 1971 and more than 95% of its value since the Fed Reserve was created in 1914.
The government has been using inflation and expanding the money supply to devalue our earnings. When you have devalued a currency by 95% how much more can you devalue it by expanding the money supply before the money is worthless?
While your argument is logical, I'm curious how you would characterize the boom the United States had during World War II. I thought it was generally accepted that the War was primarily responsible for bringing us out of the Great Depression. Obviously that war cost us a LOT of money, but it brought about one of the greatest economic booms in our nation's history. I'm not asking this to argue--again, I agree with the basic premise of your argument. I'd just like to hear your take on this.
@dgpsf That's not entirely true. During the war years everyone had jobs, but that was party because of a labor shortage caused by the war and there was rationing of a great deal of everyday items. You were earning money, but you couldn't buy anything with it. The REAL boom came after the war when all those countries had to rebuild. Their economies were in ruins and they needed to import a lot of stuff and we made it. IF there was a war in Asia today, America would benefit from that today.
@dex4464 But that costs money. The individual is free to destory dilapidated buidings if he wishes. Some may choose to refurnish it. Others may choose the expense of building a new structure. Just destroying perfectly usable capital to replace it with other capital is idiotic. Where could those scarce resource have went to build other things if not for the cost of replacing what you already had!! It makes no sense. We should all pray for nautral disasters if you are right.
I read the book Economics in One Lesson. It's great read. Broken Window is on Chapter II of the book. I did my part helping Japan by ordering all four CDs from Japanese musician, Hiroshi Masuda. watch?v=TUFwHul7aq0
sure it would be good to replicate earthquake, sure its good to bomb the place. USA is doing that ALL THE TIME - see Africa. thats the point of this economy - to make some WORK (for the banks). cant believe so many likes here. go watch zeitgeist, amen.
@petiemac24 you see, the economy is not about saving resources, its about spending resources, thats why japan earthquake is actually good for the economy and economy only.
@redhotbits ...You can't spend what has not been saved. To say earthquakes or war is good for an economy is a display of economic ignorance. With that logic, everyone on your street should burn down their house to boost the construction business.
Japan has the money to back up this disaster, we don't. All our states are broke, and the fed is still printing more fake dollars! Schiff is a brilliant economist, almost everything he ever predicted, came true. He should be in Washington! Go Peter, keep up the good work!
My thoughts exactly. Well, sort of ;) And I'm sitting here scratching my head going "What? The yen is as high as it's ever been since, like, WWII???". And another thing I learned during this whole thing: Japan is the 3rd largest economy in the world! That's BAD news for the global economy as a whole, but not surprising, I guess. Looks like Japan has decided it does not want to miss the hyperinflation party when it comes. Oh well. The more the merrier!
can u please talk about the euro? why is the euro rising so fast in this time of crisis when japan has just experienced the costliest natural disaster? why with greece in a financial turmoil and why with europe in a recession, with so many people being out of job, why is the euro rising?
Did anyone see the Gold billboard at Logan int'l airport? If that is not a Classic Top I don't know what is. I am just waiting for Gold sitcoms or game show to pop up next. We already have the inferential and TV adds. Keep buying up that gold and raising that cost average. See where that gets you in the end boys and girls.
Alright, as of noon PST. Wateroz still has iodine for sale. They made it very clear it is flying off of the shelves and they are not sure how long it will last. If you need idodine give them a call 800-547-2294 and give them coupon code 30225 for a 10% discount of the normal price of $19.00 per pint.
yeah well we are also losing disaster supply's that IF there is a BIG one at home we will be caught with out proverbial pants down, and if any ppl say that can't or won't happen, read Jim Berkland's info he has good idea what hes saying
raising interest rates would be a catastrophe, and peter knows it. it would boost gold and silver and japan would be completely fucked. selling us bonds by japan would destroy the US dollar and peter couldn't wish for anything more. i love peter, but it is so obvious how his opinion is influenced by wishful thinking. japan rebuilding would stimulate natural resource countries like Australia or Canada; japan would be stimulated by debt, like the USA for the past 40 years
@tmac9938 there is good debt and bad debt. raising interest rates would lower the liquidity of the banks and make it harder for the people of japan to get needed money to rebuild. it would also raise the value of the yen making Japanese products more expensive, lowering the amount of money flowing into the country, compounding the liquidity problem. lowering interest rates would be acceptable in this situation, but i don't believe appropriate for propping up an entire economy like in the USA
@Ethioness You're an idiot. Did you hear where he said "the whole thing is complete nonsense." Here's a tip, press the power button on your speakers or plug in your headphones to your computer so you can actually hear what he is saying.
@joker2x No but his arguement is supposedly a an equivalent argument. His comparacents are "complete nonsense". It appears you don't get it. And stop insulting ppl just b/c you're on the internet.
@Ethioness it is "hear" - go back to grade school. your comments reveal your lack of intelligence. seriously, you need help. a "Financial Analyst" that can't spell?
@Ethioness joker isn't being very cordial but he is right. if youre arguing about peters hypothetical statements about bombing an american city, you missed the point and you should rewatch this video and pay attention. he was poking fun at people who claim that destruction is good for an economy, specifically those who are saying that Japan will benefit from the recent disasters. he says that idea is ridiculous and it seems you actually agree with him. you weren't being cordial either to be fair
@Leofus1986 That's just it, no one said that, Peter is making that whole thing up just so he can argue against it. He takes both sides of an argument in the same sentence. Thats what he does. I know ppl can judge me by my spelling but I don't think they are up to discussing my position.
You are right about one thing. I wasn't very cordial.. but thats how you do it on Peter's vlogs. His audience is a special one and not in a good way either.. They thrive in thinking they know more than you.
@Ethioness first off, ive heard people say on tv and even on the comments of this video that the disaster will benefit japan economically. being disrespectful is not the way to do anything anywhere imo. i dont judge people by their spelling but as far as schiff's listeners thinking they know more than everyone else, thats ironic because it seems to me like you think you know more than everyone here. i cant speak for all schiff fans but i like to get as many perspectives as possible.
@Leofus1986 u seem to have a cool head on your shoulders. Let me ask you this.. You don't think economy will benefit in the building of a new infrastructure in Japan? This is not only the jobs it produces.. its the latest and most efficient technology used to build it. Its a mecca of creativity when ever a city is rebuilt from the ground up. So I think Peter is a bad artist in not acknowledging this. Another point.. I do think the lower the currency for Japan, the more advantageous ...
I love you Peter, and I agree with much that you say even if you are a supply-side economist. However, the "broken window" fallacy was exposed by Bastiat, not Hazlitt. Though Hazlitt's 'Economics in One Lesson' is probably the first book that I recommend to anybody just beginning their understanding of economics, Hazlitt never formed his own theories; he was great at explaining established economic theory for the layman. Don't let me catch you making mistakes like this again, Peter. LOL
Always get a kick out of how Peter's voice rises and forehead starts to glow out of frustration over the length of his videos. He has passion for truth, contrast to Berfakey who keeps looking more and more disinterested and indifferent wherever I see his dull mug on the screen.
Oh Peter, I really hope you don't run for public office again... If you get into a real race the TV will be smothered with you saying "We can randomly select a city in the United States to destroy [...] we can send in the Air Force [...] we can carpet bomb the place."
Peter's logic is flawless. But let's not forget that current banking cabal can't operate anywhere where real completion aka free market exists. It desperately needs to keep fake and fraudulent system alive otherwise its power will evaporate literally over night. They will never listen to Peter or anyone else. They simply can't.
At the current point there we have got only one possible solution to this problem - a revolution and restoration of republic.
Alright, as of noon PST. Wateroz still has iodine for sale. They made it very clear it is flying off of the shelves and they are not sure how long it will last. If you need idodine give them a call 800-547-2294 and give them coupon code 30225 for a 10% discount of the normal price of $19.00 per pint.
I am actually laughing out loud right now! Schiff is the man!
jone4700 4 days ago
Debt is Wealth?
Who the fuck is dumb enough to believe that?
For God Sake think You Idiots.
War is not Peace and Day is not night, so Debt is not Wealth.
Anyone that believes that idiot argument is a selfish fuck, they do not care about anything but the shit they can get with Debt.
Assholes.
americanbandwidth 1 month ago
@americanbandwidth No. Nobody who believes that is selfish. Anyone who believes that is the exact opposite of selfish. How could believing something that is completely self-destructive ever be selfish?
mrrobotica 6 days ago
@mrrobotica When anyone want's it all for themselves knowing, or ignoring, the facts are that it will ruin everyone else' chance to ever be free.
That is selfish.
americanbandwidth 6 days ago
@americanbandwidth That is self-destructive. Selfishness and self-destruction are mutually exclusive. There is no way you can be looking out for your own rational interests while doing something irrational and self destructive. When I go to work and earn money for myself to enjoy, I am being selfish. When a fool goes out and buries himself in debt, he is being the exact opposite of selfish.
mrrobotica 5 days ago
@mrrobotica When the debt payment is more than the amount that is brought in every month and people still want all their bells and whistles and the expense of other people. That is Selfish.
Debt is not Wealth, Wealth is Capital, Capital is anything you own that has value.
Debt is, You being the Steward of the item until it is paid for.
americanbandwidth 4 days ago
@americanbandwidth You seem to view selfishness as an inherently bad thing and think that self-destructiveness and selfishness are not mutually exclusive. A man may be trying to make himself happy but if he is failing at it and making himself miserable (as foolish debtors ultimately do), he is not being selfish.
mrrobotica 3 days ago
@mrrobotica I'm a free market Capitalist.
I'm not against Selfishness, I'm against anyone one that thinks it's my job to pay for their party.
americanbandwidth 3 days ago
@mrrobotica
how is spending yourself into debt (to have & enjoy things you cant afford, just for the sake of having them right now) any less selfish than spending money that you do actually have?
more impatient, & possibly stupid (if you can't service your debt), perhaps... but no less selfish.
being selfish doesn't necessarily mean you always look after yourself.
the ego can be unwise or nihilistic
gudster 3 days ago
You are doing great Peter! According to Google Insights, you are almost as popular as Snookie!!! It's baffling that more people type in her name on Google then yours, but all well, that's America and the power of marketing for ya! Thank GOD Ron Paul is more popular then her :)
Canada supports you!!!
CamsLiveVideo 6 months ago 14
This has been flagged as spam show
I cannot believe there is so much evil in a human, a dolphin is a so
loved animal by everyone, but being massacred in this way.
I think Nature returned blood as a tsunami. There´s so much hate in
all this kills in Taiji. I can’t describe in words, I really feel sad
and I hate your nation.
See The Cove Movie
youtube.com/watch?v=m-UdpKqAyXA&playnext=1&list=PL3EE7E3E96E5D966E
TheSavedolphin 8 months ago
It sounds like he's semi-predicting the economy will continue to submerge as the feds print more and more monies. Inflation for the poor, deflation for precious metal holders. Does he also predict a collapse as others are suggesting? mid - end of '12 is what Celente is suggesting, IIRC.
4micaman 10 months ago
I read about this in Hazlitt's book. Good video.
nubcakehero 10 months ago
Anyone who buys into Bastiat's premise is a simpleton, plain and...simple.
pretorious700 10 months ago
@pretorious700 ROFL - alright, g'head and help the economy by burning down some buildings! You'll be regarded as a patriot!
evangrogers 7 months ago
Why Japan has never been big on precious meta investment ? There are only 3 trusted companies where you can by metals from with minimum of 30kg purchase on silver plus high premium and tax. No one wants them.
urkingod 10 months ago
@TheBlitz1 aw shi-. u just ate yo pussy.
FinalTables 10 months ago
@FinalTables a cat is fine too - desu desu desu
TheBlitz1 10 months ago
i love it when he talks dirty and doom
breckandy 10 months ago 7
@breckandy u sir...
FinalTables 10 months ago
Peter Schiff, your rock!!
treboomboom 11 months ago
The financial impact of Japan tragedy is probably 3 to 6 months for the USA. The collateral damage will be discovered over coming weeks in Japan and eventually travel through the supply chain. Problems/ costs are compounded as they move to each point in the logistics supply chain, so it takes a while for those on the receiving end to see the damage. We are at the end of the Japaneese supply chin and when it hits, it's going to be a very costly suprise for US businesses
torahislife 11 months ago
Thanks for sharing your common sense here & allowing comments too.
I think it would be an economic boom, if USAF bombed city of st louis mo, Washington DC, & Detroit butt please don't warn the residents, or businesses, because they are huge parasite on USA economy. Take care PS.
mcc11505 11 months ago
Japan is a export based economy that's why their afraid to raise rates. If yen is to expensive the japenese goods become more expensive on world markets and people will begin to buy from other nations
niggaflies 11 months ago
PETER SCHIFF HE WAS A PROPHET DUMB DUMB DUMB DUMB DUMB
fuckooo 11 months ago
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Friends don't let friends buy silver (or any precious metal) at retail! That's my motto! If you're interested in buying silver at wholesale price, send me a message. No minimums or maximums!
kylextown24 11 months ago
This has been flagged as spam show
"YOU MUST READ THIS IF YOU CARE ABOUT YOUR PURCHASING POWER IN THE US DOLLAR. Check out my channel I have videos of peter schiff, he is a pure genius that predicted the housing bubble economic depression of 2008 and is predicting a much larger collapse of the US dollar in the near future"
MrSilverInvestment 11 months ago
OMG!!!!
The problem with this guy is that he sees everything in black and white when we're all in a grey area.
He talks about copper and commodities as if Japan is the only nation in this world!
Secondly, he talks about Japan needing to shrink their currency in this time of crisis... again, a bunch of boloney since this is exactly what exacerbated the Great Depression.
His final comment I believe is correct, which pertains to the US foreign debt. We are headed toward a massive devaluation of
skreese33 11 months ago
@skreese33 Hi there just wanted to point out that before the great depression the economy was growing and there was a sudden tightening of money supply because of the speculation the rotschild spread. So my point is that when the economy was doing well b4 the depression why was the money supply tightened? Shouldnt it be expanded instead? Peter pointed out that the purpose of FED(applies to all central banks) was to tighten money supply when there is a "disaster".
101simar 11 months ago
@101simar Pre-GD growth was from govt's counterfeit money and govt's counterfeit bank accounts. Growth is not always progress. Producers goods (houses, stocks, etc.) were increasing, not from savings, but from govt money & credit inflation. Monetary and credit contraction was needed for equilibrium between producers goods and consumers goods. There was no possibility of avoiding a depression to shift resources back to market-determined production instead of govt-determined production.
TeaParty1776 11 months ago
give the residents ample warning and bomb the local sewage system. SHIZZZZ storm equals economic growth. poopylogin.
MrDemiGlaze 11 months ago
Did anyone watch dancing with the stars last night?
texascagematch 11 months ago
This has been flagged as spam show
abc, nbc, fox, ch9. cw, and all the rest of the media that takes orders from the rich stop tell the public lies we see past that shit is about to hit the fan in our home land thanks to the fed.
skittelz2sweet 11 months ago
great video IMHO. I will have to view it at least twice to comprehend all the info he gave us.
rivas6785 11 months ago
Japan already has a high savings rate and an increase in interest rates would cause the rebuilding effort to be that much more expensive. A lot of what was damaged was long term capital structure, nobody buys a nuclear power plant outright, it has to be financed and higher interest rates would make the rebuilding of these projects cost a fortune. Nearly EVERYTHING they have to do requires long term financing, low interest rates are what is needed as well as liquidity.
christo930 11 months ago
It will probably lead to more jobs in the US since they are going to have to import a lot of heavy equipment and building materials. It won't be a great deal for them, but everyone who sells Japan stuff should make out.
christo930 11 months ago
Libya is a distraction
Search For
"BUSH OBAMA DESTROYED US ARMY"
eliasmouawad 11 months ago
Note on 5:00 : essentially what this means is that instead of increased consumer spending that you would get with low interest rates, we should focus on allowing businesses to get ample acces to money so that they can invest and create jobs. How? By giving them acces to loans from banks. How? By making sure that the banks have loads of money in them. Well, how to banks get their money? By savings accounts! And why would people invest in savings accounts? LOW INTEREST RATES! It's that simple!
Wejer3 11 months ago
8J-(
mamcointl1 11 months ago
Thanks for your insight, Peter.
logwind 11 months ago
Can somebody direct me to a good discussion on the fundamental economic reasons why the convergence should happen between the DOW and the price of gold to where the DOW is worth an ounce of gold? I have heard that argument many times but don´t remember having seen a good step by step case being made for why it should reach that ratio.
On another note. Who are those creeps behind the SchittReport and related channels here on youtube? I would really like to be able to block them from my searches.
runarolsen 11 months ago
Peter: What happens to the economy, and most importantly the precious metals market? what will happen to price of silver and gold when interest rates starts going up?
fiapop 11 months ago
This has been flagged as spam show
lot of Japanese are going to die
marniespeaks 11 months ago
Are you guys still masturbating to hyper inflation, dollar collapse and Gold? You just Keep on waiting day after day after day after day and still no US collapse dam! ROFL
XESTISS 11 months ago
Wow, you really got them. Be sure to trade in all your hard assets for dollars and then you can really show them! "collapse" is objective. You will be paying $20 for a loaf of bread with all your taxes going to pay off interest on debt eventually and you will still be babbling on youtube saying "see, we are still on the map...right here..look". LMAO You are ignorant
999silverrush 11 months ago
@999silverrush You do know the saying is "Cash is King" right? Not "Gold is king" For a good reason too!
XESTISS 11 months ago
@XESTISS Are you still masturbating to ignorance?
999silverrush 11 months ago
@999silverrush No I stopped that a long time ago! From the looks of things you are doing real good picking up the slack for me ever since I left Ignoranceland!
XESTISS 11 months ago
@XESTISS Wow, you really got them. Be sure to trade in all your hard assets for dollars and then you can really show them! "collapse" is objective. You will be paying $20 for a loaf of bread with all your taxes going to pay off interest on debt eventually and you will still be babbling on youtube saying "see, we are still on the map...right here..look". LMAO You are ignorant
999silverrush 11 months ago
@999silverrush Wack Wack Wack o the collapse is near Wack Wack Wack O look at the gold wack wack wack mmmmmmm.... baby you too silver wack wack!
Do me a favor when The collapse happens be sure to send me a mail.. O Schitt There will be no more internet! Dam I mean smoke signals to let me know that hyper inflation is here ok??? Could you do that for me? Now go back and wack away! R O T F L M A O!!
XESTISS 11 months ago
So where do the opportunities come from today? Appears as though commodities are going to move even higher now because of the rebuilding. Waste disposal and recycling companies should benefit in Japan, but that isn't easy for the American investor to find, research and buy. Any ideas?
WealthGuardShow 11 months ago
@WealthGuardShow I am not a financial advisor but Try FLR, FLWT, FLS, CUT, BAL, DBA, VLO, BHI, KOL, WNR, USO, UGA, JOYG BTU. good luck!
Minethis1 11 months ago
support Peter - Wishing happy Forex Scalping to all TRADERS!
freeSCALPINGindicato 11 months ago
Debasing currencies needs to be a capital punishment crime. I think it may actually be in the constitution, or "that god damn piece of paper."
biped19 11 months ago
Ben Bernanke said DEBT is not the problem so do not worry borrow even MORE.
aviomaster 11 months ago
Carpet bombing? You been playin' COD pete??
haha jk great vid!
youutube88 11 months ago
thank you Bank of Japan for seving my carry trade
sujajajjaakakajjs 11 months ago
Wow... Peter is just as purple as his background
buchoogdelight 11 months ago
Hi Peter! You need some blue floods or yellow on wall behind you- terrible graphic effect - you blend in so that the whole impression is BLAH! so please change it pronto as I am an artist and have to wander off before I get sucked into the blah vortex!
yahear Incidentally I think the Japanese are suffering pay back for their terrible WW11 atrocities they committed against the Canadian defenders of Hong Kong- they are still in denial of those heinous acts and refuse reparations
jimksa67 11 months ago
@jimksa67 as horrible as japan's atrocities are in world war 2(Canada being a small part of those atrocities). People who were not even born in WW2 do not deserve to die for that. This quake is awful.
mcbain434444 11 months ago
Hi Peter! You need some blue floods or yellow on wall behind you- terrible graphic effect - you blend in so that the whole impression is BLAH! so please change it pronto as I am an artist and have to wander off before I get sucked into the blah vortex!
yahear
jimksa67 11 months ago
Hey Peter, can you address the UK in your next video blog?
Many people are already claiming that "austerity is a failure" because the UK is experiencing economic problems.
I'd love your two cents on this.
TheDubCollector 11 months ago
@TheDubCollector Peter never said that austerity is sunshine and blue sky. Austerity is the bitter medicine one must take to rid of the excessive credit expansion. UK is undergoing symptons of withdrawal right now.
ltsgt1 11 months ago
@ltsgt1
I agree...And I would like Peter to elaborate on that point in his next video. I'm sure he will eventually address this though anyway
TheDubCollector 11 months ago
@go2thebeach Just be careful what you mean by wanting things to be equal, as this also imply taking away from what could have been good. You definitely need to see the short film called '2081':
watch?v=Vi6TTNKdgSk
elboertjie 11 months ago
support Peter - and happy trading to everyone - ★★★★★stars
freeSCALPINGindicato 11 months ago
Peter , i picked up somewhere from Gov , that QE3 would be usless to try , who knows what Mr Bernanke will do...?
My thought are What if the gov does pull this off what will they do with the 14 Trillion in debt ?
ibelucky1 11 months ago
It's all easy to understand, Peter, but as you only tangentially allude to, there are a lot of "obstacles" in the way of economic events that could be predicted using good ol' solid based economic theory. I estimate that there are 47 politicians per 1 economist (of any ilk) involved in actually setting US economic policy these days. 1913 was almost 100 years ago, and a lot of shenanigans have taken place since then - political shenanigans, that is. Economic theory can't stand alone anymore
ellesstee 11 months ago
@RFox93 Thats all conspiracy theory, I have been involved with conspiracy theorist for more than 5 years and they make you believe that it is something top secret that they are telling you but it's really not. Most of what they tell you is & has been discussed in the academia and also, conspiracy theorist also cover up facts that go against their version of events. Give it some time before making your up mind, you'll see for yourself whatever I just told you. CHEERS!
yasirjamal285 11 months ago
Seems like Mr. Schiff doesn't knows anythingabout the Japanese economy. The Japanese are the biggest savers in the entire world that's why you have lower interest rates so that the are encouraged to spend more and not "SAVE" as he suggests. A stronger yen would decrease exports and create more unemployment and how will the Japanese then pay for their imports & there will be very little inflation as most money will be used for productive purposes. You are not an economist so don't try to be one.
yasirjamal285 11 months ago
@yasirjamal285 ...Seems you have been brainwashed by mainstream economic thought. Japan has implemented Keynesian policies, like stimulus, for 20 years and have not grown because of it.
petiemac24 11 months ago
@petiemac24 Japan has other problems like a broken banking system (they are called ZOMBIE banks in Japan), an ageing and a declining population, very high savings rate and a deflationary economy even AFTER 20 YEARS OF KEYNESIAN STIMULUS.
yasirjamal285 11 months ago
@yasirjamal285 I admire the Japanese for being disciplined savers. I don't know much about Japan's economy, but I'm guessing they also don't waste their money on useless junk that they don't need. Would America be better off if they started saving and stopped their spending?
58jtaylor 11 months ago
@58jtaylor Yes it would be better off but Peters remedy for Japan is incorrect
yasirjamal285 11 months ago
@yasirjamal285 "You are not an economist so don't try to be one" - the definition of irony.
So what you're saying is that, to make themselves better off, the Japanese must make themselves poorer? How do the Japanese pay for their imports now? If the yen appreciates, that is exactly what they'll use to pay for imports... you've just torn apart your own argument. The only reason they export is to get the benefit of imports; achieving that end with less effort cannot be a bad thing.
ralliart2000 11 months ago
@ralliart2000 If the yen appreciates
1. Japan's exports will decline
2. there will be more unemployment
3.a slow down in economic activity
4.Cheaper imports will make Japan's current deflationary problem even worse
All of that is the exact opposite of what Japan needs right now. Japan will emerge stronger from this crises as new technology will be used to plan & design cities &infrastructure which will be copied globally , Mr. Schiff are invited to merely sit on the side lines and watch
yasirjamal285 11 months ago
@yasirjamal285 If the yen appreciates
1) Everyone will be able to buy more for less labour.
2) This will free people up to do other things - mainly: not working to produce and export in order to be able to import.
3) In what school of economics is less of a cost - less work - to purchase imports a bad thing? What you're saying is that for Japan to be richer they have to be poorer.
Your whole approach is based on an ancient fallacy.
The fact you think this quake is positive is ridiculous.
ralliart2000 11 months ago
@ralliart2000 And then whose going to pay the unemployed as a result of less exports, why should they loose their self sefficiency so that they could do "other things" and "less work", that would be very bad policy. The earthquake is not positive at all but Mr. Schiff's remedies are wrong
yasirjamal285 11 months ago
Question: Japan has alot of gov't debt,but also alot of reserves;why don't they sell their reserves and pay down their debt? Anybody know why Jpan and other countries ,do not do this?
MEXBOL 11 months ago
@MEXBOL - the national debt for Japan was almost 200% gdp compared to our 40%+ and climbing faster then we can keep up with. The US mint last reported we own 149 million ounces of gold - if sold at current value (1,100/ounce) it would not even put a dent in our debt at a mere 164 billion.
brokerdavelhr 11 months ago
lol @tigranvartoanovitch
dex4464 11 months ago
Yeah, that's all very well, Peter. That's what OUGHT to happen. But we all know what will happen. The USA and the IMF will go steaming in, and loan the corrupt politicians money; and Japan will turn into Ireland without St Patrick.
tigranvartanovitch 11 months ago
@tigranvartanovitch Well put. And that, my friend is why scarfing up gold and silver IS risky, despite rational, common sense economic theory. Too many cooks sitting over this broth, Peter. Look up the term "black swan." It applies here. And remember, Peter Schiff is NOT in Washington calling the shots - and unlikely to get there soon.
ellesstee 11 months ago
So much common sense in only 10 minutes!
ojciec2 11 months ago
Most of the world is doing the same thing, everything is gonna change when countries with high inflation and low income like China start dumping their dollars to save their economy from inflation. Then as more dollars hit the market the value will drop drastically cripling the consumption based economy we have now. What will happen next is unkown wether the fed inflates more creating a germany type hyper inflation or raise interest rates and cause a deflationary depression.
jezza1789 11 months ago
FYI>Now go back three decades, a time of galloping inflation, interest rates and bond yields. When Paul Volcker took over the Federal Reserve in 1979, consumer inflation was 13.3 percent, the highest since 1946. To shrink inflation, Volcker raised interest rates to levels not seen since the Civil War.
.As interest rates soared, CD and money-market rates did, too. The average rate on money market accounts topped 9 percent.
ibelucky1 11 months ago
@RFox93 Knowledge is power , do you truly think those that own this planet allow the masses have any real power . So you give them football hollywood ect , the romans called it bread and circus . I.E keep the willing fools well feed and give them lots of trivia and you can basicly rule over them with ease . . . . Never forget what the ancients like plato ect have taught , there is an elite that maintain power create the culture thru movies , music ect , fund/own academia , ect etc
ozzycriss 11 months ago
DESTROYING A COUNTRY FINANCIALLY SOUNDS LIKE A PRETTY GOOD WAY TO START ALL OVER, REDISTRIBUTE THE WEALTH TO MAKING EVERYONE EQUAL. OBAMA???
in8chro 11 months ago
@joepeeler34 assume the did the opposite the reactor was not destroyed and they built a mass transit system with the capital they would have used to rebuild the reactor, which is Schiff''s scenario, then you have both correct, but only up until the reactor becomes obsolete at which time it must be replaced at a higher cost of capital. Those events net out, is it possible to argue that the current destruction will not increase production because you must rebuild.
dex4464 11 months ago
@joepeeler34 You and Schiff are are arguing location overlooking the macro economic effect, which is an increase in government funded consumption. If something is destroyed and must be rebuilt it will take more resources to do so. Schiff argues that we build something else, elsewhere, that assumes that space is available. Assume that the reactor was not destroyed and Japan decided to build another, where would they put it, would it not render the old one obsolete.
dex4464 11 months ago
Going by BLS CPI Calculator the value of the dollar has lost 85% or so of its value since Nixon took us off of the Modified Gold Standard in 1971 and more than 95% of its value since the Fed Reserve was created in 1914.
The government has been using inflation and expanding the money supply to devalue our earnings. When you have devalued a currency by 95% how much more can you devalue it by expanding the money supply before the money is worthless?
bkdmd 11 months ago
While your argument is logical, I'm curious how you would characterize the boom the United States had during World War II. I thought it was generally accepted that the War was primarily responsible for bringing us out of the Great Depression. Obviously that war cost us a LOT of money, but it brought about one of the greatest economic booms in our nation's history. I'm not asking this to argue--again, I agree with the basic premise of your argument. I'd just like to hear your take on this.
dgpsf 11 months ago
@dgpsf - i don't think this is quite understood as a constant. but more of a case by case phenomenon.
judutchinski 11 months ago
@dgpsf That's not entirely true. During the war years everyone had jobs, but that was party because of a labor shortage caused by the war and there was rationing of a great deal of everyday items. You were earning money, but you couldn't buy anything with it. The REAL boom came after the war when all those countries had to rebuild. Their economies were in ruins and they needed to import a lot of stuff and we made it. IF there was a war in Asia today, America would benefit from that today.
christo930 11 months ago
Schiff will continue to be proven right. The truth ALWAYS prevails eventually.
rm6565 11 months ago
Guys ,pay no attention to Minethis. i have been beating him down in e-mail exchanges. I can handle the Keynesian twit all by myself.
joepeeler34 11 months ago
by your definition it would be better to keep a dilapidated building instead of tearing it down and building a better structure
dex4464 11 months ago
@dex4464 But that costs money. The individual is free to destory dilapidated buidings if he wishes. Some may choose to refurnish it. Others may choose the expense of building a new structure. Just destroying perfectly usable capital to replace it with other capital is idiotic. Where could those scarce resource have went to build other things if not for the cost of replacing what you already had!! It makes no sense. We should all pray for nautral disasters if you are right.
joepeeler34 11 months ago
Schiff, you should move to NH. The FSP is starting to have a serious positive effect on politics. You could do alot of good up here.
fonz20088 11 months ago
great point of view lol
tylerzchance 11 months ago
i nominate Detroit and Cleveland for immidiate carpet bombing.
crabtrap 11 months ago
@crabtrap Why is that, exactly?
synestheticmonotony 11 months ago
I read the book Economics in One Lesson. It's great read. Broken Window is on Chapter II of the book. I did my part helping Japan by ordering all four CDs from Japanese musician, Hiroshi Masuda. watch?v=TUFwHul7aq0
AkoyPinoy2 11 months ago 2
sure it would be good to replicate earthquake, sure its good to bomb the place. USA is doing that ALL THE TIME - see Africa. thats the point of this economy - to make some WORK (for the banks). cant believe so many likes here. go watch zeitgeist, amen.
redhotbits 11 months ago
@redhotbits ....You are a amazingly ignorant fool!
petiemac24 11 months ago
@petiemac24 you see, the economy is not about saving resources, its about spending resources, thats why japan earthquake is actually good for the economy and economy only.
redhotbits 11 months ago
@redhotbits ...You can't spend what has not been saved. To say earthquakes or war is good for an economy is a display of economic ignorance. With that logic, everyone on your street should burn down their house to boost the construction business.
petiemac24 11 months ago
@redhotbits Can you explain to me why during the great depression why people put money in banks and it helped?
Also, can you explain where credit and capital comes from?
Also, is there a thing such as limited resources? Should the United States go to war indefinitely with countries cause we spend a lot on that?
Shrunkenhead61 11 months ago
@Shrunkenhead61 value od usd was stronger imo, inflation hasn't eroded it yet.
cmegroup23 11 months ago
Japan has the money to back up this disaster, we don't. All our states are broke, and the fed is still printing more fake dollars! Schiff is a brilliant economist, almost everything he ever predicted, came true. He should be in Washington! Go Peter, keep up the good work!
450984 11 months ago 2
Its Common sense to raise taxes in Japan , to rebuild Japan why put the country in debt !
Just think of the stocks you could play with the growth in japan...in a real sense..Wow Investments.
I dont understand all of this but , these Quantative easing programs are building alot of economic anxiety....
People want to move forward in life , and not be stuck in Q mode , wondering if your next job is going to be in austrailia.
ibelucky1 11 months ago
My thoughts exactly. Well, sort of ;) And I'm sitting here scratching my head going "What? The yen is as high as it's ever been since, like, WWII???". And another thing I learned during this whole thing: Japan is the 3rd largest economy in the world! That's BAD news for the global economy as a whole, but not surprising, I guess. Looks like Japan has decided it does not want to miss the hyperinflation party when it comes. Oh well. The more the merrier!
aprilrosed 11 months ago
So it's basically print to infinity? There is no other painless option?
AspenNomad 11 months ago
At 2:08 we already did that on 9/11 but without the warning.
zebfullmer 11 months ago
the end is coming
whatsgoingon07 11 months ago
can u please talk about the euro? why is the euro rising so fast in this time of crisis when japan has just experienced the costliest natural disaster? why with greece in a financial turmoil and why with europe in a recession, with so many people being out of job, why is the euro rising?
gossipze 11 months ago
Peter what you said makes so much sense. There thinking is so short term.
madmikeof74 11 months ago
DANIELHALL4FREEDOM. COM !!!
verbalmilitia 11 months ago
Did anyone see the Gold billboard at Logan int'l airport? If that is not a Classic Top I don't know what is. I am just waiting for Gold sitcoms or game show to pop up next. We already have the inferential and TV adds. Keep buying up that gold and raising that cost average. See where that gets you in the end boys and girls.
Minethis1 11 months ago
That analogy with carpetbombing. Perfect!
dzka88 11 months ago
Alright, as of noon PST. Wateroz still has iodine for sale. They made it very clear it is flying off of the shelves and they are not sure how long it will last. If you need idodine give them a call 800-547-2294 and give them coupon code 30225 for a 10% discount of the normal price of $19.00 per pint.
God bless
idahodeerhunter 11 months ago
yeah well we are also losing disaster supply's that IF there is a BIG one at home we will be caught with out proverbial pants down, and if any ppl say that can't or won't happen, read Jim Berkland's info he has good idea what hes saying
Boozebegood 11 months ago
raising interest rates would be a catastrophe, and peter knows it. it would boost gold and silver and japan would be completely fucked. selling us bonds by japan would destroy the US dollar and peter couldn't wish for anything more. i love peter, but it is so obvious how his opinion is influenced by wishful thinking. japan rebuilding would stimulate natural resource countries like Australia or Canada; japan would be stimulated by debt, like the USA for the past 40 years
6503mike 11 months ago
@6503mike stimulated by debt? terrible insight. you mean encumbered by debt... i.e. something that HOLDS you back.
tmac9938 11 months ago
@tmac9938 there is good debt and bad debt. raising interest rates would lower the liquidity of the banks and make it harder for the people of japan to get needed money to rebuild. it would also raise the value of the yen making Japanese products more expensive, lowering the amount of money flowing into the country, compounding the liquidity problem. lowering interest rates would be acceptable in this situation, but i don't believe appropriate for propping up an entire economy like in the USA
6503mike 11 months ago
@6503mike very good. at least you make a distinction between propping an economy up vs emergency funds. i'll accept that compromise.
tmac9938 11 months ago
Japan will never do anything to endanger it's export market to America because Japan is America's little bitch
takadi 11 months ago
Grecian Formula Schiff. Dig it!
crubeo 11 months ago
Peter is stupid at 2:20. Yet teabaggers are stupid enough to believe in what he says.
Ethioness 11 months ago
@Ethioness You're an idiot. Did you hear where he said "the whole thing is complete nonsense." Here's a tip, press the power button on your speakers or plug in your headphones to your computer so you can actually hear what he is saying.
joker2x 11 months ago
@joker2x No but his arguement is supposedly a an equivalent argument. His comparacents are "complete nonsense". It appears you don't get it. And stop insulting ppl just b/c you're on the internet.
Ethioness 11 months ago
@Ethioness You continue to prove you are an idiot. You can't even type a coherent complete sentence.
joker2x 11 months ago 2
@joker2x What is up with this nitpicking? Why don't we stick to the subject?
Ethioness 11 months ago
@Ethioness Is he stupid because he said carpet bombing won't improve the economy?
DKshad0w 11 months ago
You here Japan is going to decrease their currency. This is seen as a beneficial occurance
Ethioness 11 months ago
@Ethioness it is "hear" - go back to grade school. your comments reveal your lack of intelligence. seriously, you need help. a "Financial Analyst" that can't spell?
rpsxnu 11 months ago
@rpsxnu stick to the subject. If you can't please stop talking. We don't need another internet professor.
Ethioness 11 months ago
@Ethioness joker isn't being very cordial but he is right. if youre arguing about peters hypothetical statements about bombing an american city, you missed the point and you should rewatch this video and pay attention. he was poking fun at people who claim that destruction is good for an economy, specifically those who are saying that Japan will benefit from the recent disasters. he says that idea is ridiculous and it seems you actually agree with him. you weren't being cordial either to be fair
Leofus1986 11 months ago
@Leofus1986 That's just it, no one said that, Peter is making that whole thing up just so he can argue against it. He takes both sides of an argument in the same sentence. Thats what he does. I know ppl can judge me by my spelling but I don't think they are up to discussing my position.
You are right about one thing. I wasn't very cordial.. but thats how you do it on Peter's vlogs. His audience is a special one and not in a good way either.. They thrive in thinking they know more than you.
Ethioness 11 months ago
Comment removed
Leofus1986 11 months ago
@Ethioness first off, ive heard people say on tv and even on the comments of this video that the disaster will benefit japan economically. being disrespectful is not the way to do anything anywhere imo. i dont judge people by their spelling but as far as schiff's listeners thinking they know more than everyone else, thats ironic because it seems to me like you think you know more than everyone here. i cant speak for all schiff fans but i like to get as many perspectives as possible.
Leofus1986 11 months ago
@Leofus1986 u seem to have a cool head on your shoulders. Let me ask you this.. You don't think economy will benefit in the building of a new infrastructure in Japan? This is not only the jobs it produces.. its the latest and most efficient technology used to build it. Its a mecca of creativity when ever a city is rebuilt from the ground up. So I think Peter is a bad artist in not acknowledging this. Another point.. I do think the lower the currency for Japan, the more advantageous ...
Ethioness 11 months ago
@Ethioness you fucking idiot speller.... i know way more than your dumb liberal ass
tmac9938 11 months ago
@tmac9938 Tebaggers like you thrive on pretending like they know what they are talking about.
Ethioness 11 months ago
@Ethioness haha!
tmac9938 11 months ago
Peter Schiff you are the man of the hour.(YOU ARE RIGHT)
2zr1 11 months ago
sell treasuries?!? shutup u turncoat
malumanimi 11 months ago
I love you Peter, and I agree with much that you say even if you are a supply-side economist. However, the "broken window" fallacy was exposed by Bastiat, not Hazlitt. Though Hazlitt's 'Economics in One Lesson' is probably the first book that I recommend to anybody just beginning their understanding of economics, Hazlitt never formed his own theories; he was great at explaining established economic theory for the layman. Don't let me catch you making mistakes like this again, Peter. LOL
synestheticmonotony 11 months ago
Thanks Peter, your videos always lay out the logical Austrian perspective so clearly, but this one is one of your best.
frisketdog 11 months ago
Always get a kick out of how Peter's voice rises and forehead starts to glow out of frustration over the length of his videos. He has passion for truth, contrast to Berfakey who keeps looking more and more disinterested and indifferent wherever I see his dull mug on the screen.
barnz008 11 months ago
Yes, that's the solution! Send the US Air Force to carpet bomb some US cities and prosperity will be just around the corner!
flownet07 11 months ago
Amen.
8897670 11 months ago
if japan sells treasuries, i feel China will buy even more. i dont see them allowing the dollar to fall.
Slayer8957 11 months ago
This has been flagged as spam show
14 villages are missing their Idiots... Hope they are not coming to a village near me
perry911 11 months ago
This has been flagged as spam show
14 villages are missing their Idiots... Hope they are not coming to a village near me
perry911 11 months ago
Comment removed
perry911 11 months ago
Oh Peter, I really hope you don't run for public office again... If you get into a real race the TV will be smothered with you saying "We can randomly select a city in the United States to destroy [...] we can send in the Air Force [...] we can carpet bomb the place."
tonybravada 11 months ago
Brilliant!
FilipinoObjectivist 11 months ago
why does peter schiff make so much sense? my goodness.
DontMeanWell 11 months ago
Peter's logic is flawless. But let's not forget that current banking cabal can't operate anywhere where real completion aka free market exists. It desperately needs to keep fake and fraudulent system alive otherwise its power will evaporate literally over night. They will never listen to Peter or anyone else. They simply can't.
At the current point there we have got only one possible solution to this problem - a revolution and restoration of republic.
SvrchovaneCechy 11 months ago
you are a genius
kuckol 11 months ago
Alright, as of noon PST. Wateroz still has iodine for sale. They made it very clear it is flying off of the shelves and they are not sure how long it will last. If you need idodine give them a call 800-547-2294 and give them coupon code 30225 for a 10% discount of the normal price of $19.00 per pint.
God bless
idahodeerhunter 11 months ago
Detroit!!!!!!!!!
51674 11 months ago
We don't need to bomb a city, we already have Detroit.
Martintfre 11 months ago
STOP MAKING SENSE!!!!! :))
Rawego 11 months ago
i like the carpet bombing idea.start with washington,d.c.,but don't warn them.
ROTTIWORLD 11 months ago
Mr. Schiff your words are pure, 24k gold !
toastm4n 11 months ago