@roger767 apply a tarriff that matches the tarriffs these countries have on our products. Look it up. It's at the point now where if we even talk about raising tarriffs, these other countries retaliate with EVEN HIGHER tarriffs. I say fine, if they want a trade war, so be it. We're just trying to level the playing field. Things will be more expensive for us, but we'll have more money to pay for it because more americans would be gainfully employed.
Why should the rich get a tax cut in this climate? What is the evidence that the saved money will find its way into job creation programmes etc..? Very counterintuitive. I agree that Schiff is entirely right to condemn Reich for his bizarre theory that consumer spending will somehow help America out of recession / depression; indeed, more spending on manufacturing industries etc., is exactly what is required. I do feel that a tax on the rich, combined with reinvestment in job creation works.
peter schiff u are a great guy, im writing from australia, sydney, ive watched most of the videos u have posted. after listing to all your videos i started buying gold , i started about 10 months ago, ive bought 40000 dollars so far and i will cont to buy gold , because of whats happening around the world and the econ....... THANKS :)))))
Sounds reasonable... btw some say that the actual year of change based on mayan calendar isn't 2012 but 2011 and it should happen in february and october :)
I just did a reading that housing sales have droped 27% JULY 2010.I have also read that 70% of the bail out has been used and the economy is starting to slide backwards , this shouldnt happen in the mid of summer folks. Well do the math lets see , economy slowing , stimulus running out , 2 more waves of forclosures peaking FEB 2011 , isnt this about the same time stimulus will run out.???
I predict that 2011 will be the part in the movie where Laural and Hardy meet Dracula !
Peter, I have been very confused about the Chinese Yuan peg. I have been told it is pegged to the usd dollar and I have also been told it is pegged to a basket of currencies. Either way does their peg actually give them an advantage in trade or are the complaints about the peg overblown. why would they not want to float their currency like everyone else.
Peter, since you didn't make it to the Senate, you should work on becoming a talking head on the MSM. You would do an AWESOME job at fricking arguing these idiots.
Britain is the best example of a collapsed empire........Britain started removing herself from an industrial economy to a service economy back in the early sixties.
She lost confidence in her ability to manufacture goods and also used the empire especially Hong Kong to make cheap goods and now Britain finds herself stripped of her wealth,dependant on foreign companies like Honda,Toyota and Tata of India etc and noiw her #1 company BP is under financial threat of disapearing
Peter, your efforts and message are not being ignored. You are having a significant impact, even if it's not completely visible to you. Please continue working to advance the concepts that you know are true. I'm doing the same along with you.
I'd love to believe that, but as a PA resident I have to ask, who's currently winning in CT? I'm just saying with all this media attention McMan is getting.
I'm just completely baffled that FOX news calls themselves conservative, but promote McMan, even if she pays them millions. If hannity we're a true patriot and fiscal conservative, he's let Schiff on his show for FREE !
For the hell of it,. I looked up Japans economic history,. and you know what I found out? We are following dead on what the Japanese have done,. Look it up,. Japanese economic history,. All the tactics are exactly the same.
Dude, so you are saying day trading is the way to go? That is the equivalent of flipping a coin. You are talking total nonsense to the average investor.
@kkjhhkjhkj I don't day trade as a rule, but I will occasionally take a trade that I'm willing to let go at the end of a day depending on my portfolio as a whole.
Flipping a coin you say> Like the masses that flipped the big one from 2000 to 2010?
Nonsense huh?
Talk to me when you actually make a return. You're full of shit. Holding MSFT for a 2% div. Give me a break. What a waste of money and time you don't have and I don't care if your Grandma gave it to you on her death bed.
@mcdonaldscalling21 Yeah and you're a tool. I bought the best performing stock in the history of the stock market. Is that not a return pussy? You're a waste of space. I bought BA at 35 and it is now at 63. You would have probably sold it a 40 because you are a pussy, You are just rambling jibberish like you know how to invest. You don't know anything but to criticize like an idiot. I don't care if you say one thing that makes sense because you're a tool.
@mcdonaldscalling21 Your argument is absolute bull. If you are talking about index funds then you are correct, you would be where you were 10 years ago. I am not talking about index funds. I am talking about STOCKS. Apple: 2000- 33; today: 245. That one would have sucked to buy and hold right? Berkshire Hathaway: 2000- 36.40 today: 77.23; Shit man- your screen name: 2000- 37; today: 73.34. Nonsense Huh? Like I said, pussy!
@mcdonaldscalling21 I also bought a nice piece of art work in 2003 for 2500; today I have seen it selling for close to 10,000. I probably shouldn't have held it for so long?
@kkjhhkjhkj I don't even want to discuss Buffet. He's a made man and is as crooked as the rest. Lynch lived in a market that never went down, big deal.
Those guys are false icons in a world from long ago. You can't do what they did, and you can't get the private deals Buffet gets even when you know about them.
This isn't capitalism anymore.
You're talking total nonsense to the average investor.
I don't know man, I think right now is a great time to get in the market. MSFT wasn't a company in 45, or was that rhetorical? I own other stocks. Right now, I see a lot of promise with this asian fish snacks company (ticker:cmfo). P/E is around 8, it has had huge increases in earnings over the last few years consecutively. It is expanding operations, it is priced around 6 bucks, has a high ROE, and has recently had a huge buy up of shares by insiders...
@kkjhhkjhkj I agree with you. This seems to be a good time to be getting back long into the market. In the oils and oil service sector right now myself. Of course when you don't ride it down from the top, or better yet went short, you've got the cash on hand when you need it. But now again, we're talking timing, and before you were telling me how buying and holding forever was the better play....
When things are shaky, people stay on the side lines and when things turn around, the market shoots up and they miss out. The market was dead from 65 to 85. When interest rates rose, the market has performed incredibly. Fact of the matter, From 1910 to the present the market has increased 10,000. If you hold and not let your stomach get in the way, things will get better. Whenever the economy is in a slump, everyone always says its the end, but it always recovers.
"People won't suddenly sell out of gold" is speculation. You are not a prophet. I didn't say gold will go bust in a couple months. I said it will go bust when the economy stabilizes. The hunt brothers propped up the price of silver and not gold by the way. Gold was a bubble during that time interval. Can you please tell me, right now, what are you investing in today that will make me money? I am going to write the investments down and follow them and witness your magic.
So, what are you investing in? I don't know man, I am a long term investor. Boeing has done really well, Microsoft pays a good dividend, GLD has performed crappy from where I bought it (gold ETF), IBM has done well from where I bought it.
@kkjhhkjhkj MSFT pays a shit dividend and is a dead-end stock. Long term investors, since most are, have done very poorly over the last decade thanks to the last few years. Long term investing can only win when markets only go up. Traders kick the snot out of 'investors' because they don't take the full downside AND they'll also go short when the market allows. BA as of this writing is 63. It was also 63 in 2000. Add dividend, remove inflation = shit.
@mcdonaldscalling21 I bought I sold GE shares and bought BA at 35. That's a good gain. It is coming out with the Dreamliner soon. That should increase earnings well and push its price up. Regardless, its a good company and will do well in the long run. MSFT pays a 2.1% dividend. Not great but not bad. MSFT was put in a trust fund for me in the early 80's when it was issued. It has split like 20 times. It is a dead stock. I am using it more or less like a bond at this point. It is safe.
@kkjhhkjhkj I don't care where you bought anything. I am pointing out that a buy and hold strategy blows unless the unwitting person trips over a great time to have gotten into a stock (BA). MSFT stock is the same now as it was a decade ago - splits included. Their div is shit. it's a dead stock and has been for a long, long time. Why on earth would 2% div keep you in an equity given the risk profile of such. You can get 2% anywhere. It makes zero sense.
@mcdonaldscalling21 It blows from 2000-2010. It didn't blow from 1945 to 1960, or 1985 to 2000. MSFT is safe. I can sell it at anytime and trade it if I find something better. I am being safe right now. Do you have any suggestions?
Your problem is you choose one stock that made it, like you wouldn't also have bought '724 Solutions' and all those other jack-shit stocks I have long forgotten. Look around dude at the real people on here that have bought and held for the past decade or more. They're down huge, still. That's the reality of what you're saying. But by all means, keep trying to avoid reality. B&H sucks ass, because you always end up giving it back. No exit strategy.
@mcdonaldscalling21 Also, there is an etf (ticker:tbt) that shorts 20 year treasury yields. Bond prices are ridiculous right now. That is almost a sure gain. Dell is trading extremely low and has a high P/E. 2.) Well, stocks business operations change all the time. Selling based off of logic makes sense when you can find better companies that you think are leveled at more affordable prices and have greater long term potential.
@kkjhhkjhkj My suggestion? Yes, don't buy and hold. If 10 years isn't enough to ensure a profitable outcome, then what the hell would make people believe B&H will work moving forward? Luck? What if the majority of your time spent in the market was during one of those shitty decades? Fucked now huh?
Learn to trade, learn to not be 100% invested, learn position sizing and learn how to take a 10% loss instead of a 30-40-50% loss. Understand that this is a rigged game. How about we start there?
Dont sugar coat it Peter! lol I agree though I have moved a portion of my savings to silver and gold and I am doing my best to stay out of debt and prepare with food storage etc..
Hi Peter, You're going to be on the Australian current affairs show "Four Courners" tonight. If you're not already aware google "iView". The show should be posted in the next few hours (legally) on the Australian Broadcasting Company's (our ABC down under) iView online channel.
Something else to think about is, even though there is an insane unemployment rate out there, companies earnings have been pretty remarkable throughout all of this. That is a very key indicator. But if you look at the majority of insider transactions of firms, at least the research I performed, you can see a huge sell off of insider shares. What companies does anyone see performing well 10 years from now? Coke, Pepsi, Walmart, Chipotle, Mcdonalds? Maybe those are the safe havens.
is very risky as well. China has its own bubbles and is looking at inflation. Gold is a very volitile metal and I would definitely not call it a safe haven. It is capable of popping at any time just like the dollar. Its price is determined by supply and demand and not neccasarily money printing. So? What good does having all the information do? How to preserve wealth? TIPS Bonds?
@kkjhhkjhkj I hear what you're saying about how to preserve wealth and really I don't see any safe way now. No one is offering good ideas on that either I think mainly because everything is overvalued at the same time that the FED is printing a ton of money. But one thing for sure is this would be the time in life to buy something you've always wanted or maybe travel because this could be our last chance. Once inflation hits we will lose that opportunity at the price it is today.
@jonshriegl don't forget precious metals. as long as humans partake in the division of labor we will need a medium of exchange. PMs have provided this and other function for longer than fiat currencies have been in existence.
@kkjhhkjhkj Do you understand how prices work? For gold to be in a bubble it would have to outdistance most other commodities. Meaning over time the same amount of gold would buy far more wheat, or sugar, or oil.
This hasn't happened. The housing bubble was like that, average person's income vs cost of house in same area. It went up dramatically.
There isn't a bubble in gold, it's actually suppressed substantially. Silver even more so.
@sirellyn How is gold/silver suppressed? What if things turn around for a short period of time, like 6 months or so, people feel things are stable and then people sell out of gold and put their money in the market? Is that not a possibility? Will golds price shoot up then or will it pop? Look at a chart of golds price at the 1978-1982 interval. It definitely wasn't a bubble back then. Just like it's not today. You should put all your money in gold. You will be pleased with the results.
@kkjhhkjhkj Metals suppression perhaps you haven't seen GATA's testimony to the CFTC.
watch?v=9wIMpe9SjfQ
People won't suddenly "sell" out of gold. Do you know what happened during 1982? Have you studied the hunt brothers?
Even if the US bans gold or tries to publicly price set it, aside from severe riots you would have black market which would pay 5-10x the price gold is now.
And no matter how good a deal is, you never put all your money there.
@sirellyn By the way, sugar is down around 40% from November 2009 whereas gold is constant. Looks like gold can buy a LOT more sugar. That's just one example. Maybe it is you who needs to understand how prices work.?
@kkjhhkjhkj Really, so I research the history and potential of all my investments. Link you to proof of gold suppression, invest in terms of years, and instruct you on the background and reasons why I'm confident with my investments, and you "wonder" if gold will go bust in a couple months?
Look up the dictionary definition of speculate and get back to me.
OK, so the dollar collapses right? What do we do with our money? The market in the 70's performed terribly during inflation. The money supply has shot up 95 to the present 10 fold and the market has correlated closely. A recession though results in a horizontal trend in the market and if there is inflation with a recession, the market should not perform well. The US Economy is the largest in the world, a recession here is felt around the globe. International diversification...
Even Barney Fwank admitted to Kudlow that he was wrong in making laws to force banks to give home loans to those who couldn't to own homes. This is the same inbecile who gave us the fix to it, which is anything but a fix, as Peter describes near the end. It seems dems are intentionally bringing the economy down to crash America in order to level the global playing field for the NWO.
The likely event to come involves Iran and Israel, which could bring everyone into it. Then all bets are off.
If anyone is bitching about Obama or Bush, Republicans or Democrats, consider who do they work for? Who owns long trusted sources of mainstream news media? Wall Street. Capitalism is good for math skills, but bad in practice. I could Jesus-smack a Teabagger right now.
How about you debate Robert Prechter, stop being scared and just argue your points on inflation and deflation. Because no jobs and a slowing economy is deflationary, not inflationary...
@vballtrojan8 A government can simultaniously debauch its currency and put people out of work. They aren't mutually exclusive conditions. That is to say, printing money doesn't necessarily make people have jobs.
@vballtrojan8 economy can be inflationary and deflationary at the same time. lol :)
the banks tighten up their lending, causes credit crunch means money supply shrinks, deflation. but meanwhile the government is printing up a storm, inflation.
@DickeyRogers I know all these things, but when I make a reference to inflation and deflation, I'm talking about Peter's views on Gold. While I agree that maybe 3 or 5 years down the line gold will rise to catastrophic heights, I think it will have a major fall before it rises. Gold will hit maybe $1300 by the end of the year and watch it be cut in half...
It probably doesn't. After all, the politic is about show-offs and entertainment for the public. As long as you keep the appearance, you are successful. Keep the masses happy..with entertainment skillz.
The US Strong Dollar policy means the agents of the FED buy treasuries and sell gold. The Gov manipulates everything else. Why would you even think that they don't manipulate markets? On a large scale.
So does anyone out there know how it works with the banks and interest rates? If what Peter says is true, how can they ever survive in times of rising rates? Do they just increase the "spread" to cover themselves or what? I never thought about it before, I just thought if a bank gives you a fixed rate for 30 yrs then they also were fixed for 30 yrs on their end. Can someone please explain? Thanks.
@UberRepub111 I think he was trying to show that she isn't qualified to be a senator in a time of dramatic economic strife. So I'm curious, if you're in Texas, why take such a strong interest in the CT primary?
@UberRepub111 I think you're confusing me with another of the many Schiff supporters here. I remember the post from someone else that said she inherited the business from her husband. I don't know what a wrestling show has to do with economics, so I don't know why she is qualified to take on the problems we face as a country. I looked at some of your stuff- You know America isn't about some racial or religious identity, thats what made it great. Its about he rights of the individual.
@UberRepub111 What was dishonest about his ads? She gave money to democrats, its a fact. Does a principled conservative do that? He ended up third because he over estimated the intellegence of CT registered republicans.
Peter, one thing I am unclear on is trade deficits. It seems that you believe these to be a major reason as to why we are in this current recession.
However I have read various columns from Walter E. Williams in which he says trade deficits are basically irrelevant. He points to the fact that 9 out of the 10 years of the Great Depression we had a trade surplus.
@GaryVolts Yes, but what was the bust? Was it September 2008 or is it right now. The market has shot up like a rocket since March of 2009 and has been hovering in the 10/11000 interval over the last 8 months. I think a good plan is, keep 25% of assets in index funds, 25% in domestic stocks, 25% in international stocks, and 25% in cash. The cash can be used either to pay for bills or used to buy up stocks at lower levels if it comes to that. Better safe than sorry.
@UberRepub111 What positions does Peter take that you disagree with? And why are you watching his vidoes, dont you have something better to do like watch linda's vidoes ha. Yeah she would be great at cleaning up this mess. She would choke slam this mess until it tapped out!
@UberRepub111 Not sure why you are personally attacking me unless its because that is really the only point of attack you have. Anyway back to facts. Registered voters can vote mr uberneocan. So as a registered voter she voted for democrats... Shes not a business woman she inherited a business from her husband. If you dont like Schiff why dont you stop watching his videos? He is a classical republican. You know the kind of republican that ran this country when it worked!
Any collapse though would be partially the banks' own fault for making poor mortgage refinancing deals with borrowers. If the banks and lending institutions are scared of holding losses the they need to stop being greedy by taking government money for virtually nothing and then offering shiny, new refinance deals to consumers.
I thought all of you Schiffies would like this article about the recession.
David Rosenburg has a new article out called
"The Never Ending Recession."
I found it on business insider.
Let me know what you think about David Rosenberg's opinion. It has been my sentiment about our economy all along. The Recession Never Ended so there will be no double dip. Go read entire article.
@aw3212 I guess he could have finally bought, but my thought was that he was really speaking of the place he got for his mother last year. I kinda chuckled because I just refi'd to the hilt, a debt free home just two months ago. Managed well, you can make some serious financial gains with the cheap money they're willing toss out there. I'll take it, and take all they're willing to lend.
@GaryVolts I stick it into stocks, commodities, and currencies when I feel the time is right for a given move. Quite frankly, I also like the idea that if the shit really hits the fan in the housing market, in some respects I am covered.
Peter you need to put the last part of the video at the start ! you have nailed the next crisis, one of the commentors below has also made a valid point that the GDP growth will come from expanding the public service. The true collapse will come when interest rates rise and the banks go bankrupt again.
@UberRepub111 It was a primary campaign, thats what you do. She just proved that a seat congress is for sale to the person with the fattest wallet. You think she knows half of what Schiff does about economics?
@UberRepub111 Linda has voted for democrats multiple times. Not to mention sending them money... Not sure how Schiff has done anything to make him liberal. Maybe some evidence instead of outrageous claims?
Peter, I have read all your books and generally agree with you. I do have to say this though. You seem too concerned with getting credit with things you said years ago and its obvious you are the unpopular kid trying to sit with the cool crowd at lunch. I'm sure you don't mean it, but lately you are coming off not as someone who can fix this mess, but someone who just wants to say I told you so. You seem really annoyed when the dollar doesnt go down. Help us Peter! Move to PA and run.
I have copied the following from a news article (from EuroPac's website), titled: Paulson Moves To Rescue Fannie Mae Bondholders, dated July 14, 2008. Does anyone think that the housing recovery has been sped-up?
@ISUringman1974 By "recovery" do you mean a resumption of historical ratios to rents and incomes or do you mean going back to bubble level inflated prices?
@GaryVolts --- Hi Gary, all I did was copy a quote. I guess we could guess what the guy meant by recovery; but, I would assume he meant more "bubble-forming" inflated prices. In contrast, Peter Schiff asserted that would be the exact wrong thing to do. I think Peter was right.
BTW --- I checked out your channel...I second your thoughts regarding Ron Paul!
"Regardless of Fannie or Freddie's fates, foreign central banks that own this debt will face losses, the president of Euro Pacific Capital, Peter Schiff, said. "If Fannie and Freddie go under, the debt will not be paid," he said, adding that if the two companies are bailed out, the central banks "will own debt in dollars that is worth less due to inflation."
The Bush Administration bailout as laid out yesterday would result in the American taxpayer covering the debt for both the foreign central banks and other holders of Fannie and Freddie debt. "Bailing these companies out will cost more than letting them fail," Mr. Schiff said.
Some said the new plan could actually speed up the recovery of the housing market. The president of Naroff Economic Advisers, Joel Naroff, said that during the savings and loan crisis on the 1980s, government-backed Resolution Trust Corp. bought out failing savings and loans. . "Ultimately, if you have to use taxpayer money, that's an investment that may work out most conveniently." --- Joel Naroff
I agree with Schiff, nobody wants reality or to hear the truth. They keep delaying the inevitable. Fox & Co. are just stock-pushers. I can't believe that one of the top clowns is still trying to sell his wares, Jim Kramer. A man that never got it right. Nobody is right all the time, but Peter Schiff has seemed to nail it pretty good along with others like Faber, Roubini & Celente. The pain will come whether the disbelievers want it or not!
Peter its not a matter of the gov just getting bad information and them continually making the same mistakes. Realize that they're doing it on purpose!!!
Please do not feed the trolls. There are several users making vitriolic attacks; they do so mainly for attention. If you ignore them, they will leave. When you respond, it energizes them and keeps them coming back for more. Please search Google for "Internet troll" for more information. And remember: Do not feed the trolls!
Mr. Schiff, your voice is a lonely one in the desert. USA is sinking just like USSR did it two decades ago and with Obama aka Gorbachev on the drive wheel there is no chance to avoid that destiny.
Your words are so right, sometimes I wonder if you are the only sane person in USA? The only one who has eyes and use them to see and watch the reallity?
I wish you luck and I am sure that if in Connecticut there are people with two working brain cells you will be the next senator from that state:)
to you "don't speak the truth" guy - then why are smarter people buying gold in the millions, like the governments of India and China. The Chinese came a little late and ar sorry now because the value of gold can only go up. And these guys certainly did not buy from Schiff. Schiff is basically not a "gold dealer," but a broker and a very smart investor and investment advisor. As to the real value of gold, study its history - the facts all speak for it as the last resort of value.
Another clueless idiot. Schiff is the EXCLUSIVE gold dealer in the US for thr Perth Mint in Austrailia you fool! Gold has no real value. If Schiff was a smart investor, he wouldnt have gotten blasted apart like he did. check a guy who told people to short fannie and freddie in his 2006 book Mike Stathis... avaresearch(dot)com... Schiff isnt even in the same universe as him and Stathis doesnt sell gold or securities. He advises hedge funds. Schiff deals with broke naive sheep
To Clarissa - you sound like a real Marxist/communist, probably a college teacher, who thinks the rich don't deserve what they have worked for and that their investments, even plain savings accounts, don't "share enough wealth" with the less competent, underperfoming "poor," like most members of teachers unions. The idea of tax cuts is to stimulate job creation and growth, and, strangely enough, cutting taxes means more taxes for the IRS.
Schiff is at his best in what he does here - share enormous wisdom, depth and a surprisingly large weight of plain common sense that surprisingly, or not, most Ph.D.'s in economics don't seem to have, and certainly not most politicians, and tv journalists.
All America needs is another Wall Street guy in Washington who wants no government regulation so Wall Street and corporations can rape us more. yea, great plan for you and your Wall Street buddies Peter!
Peter and "his Wall Street buddies" rape you? You obviously don't know much about Peter. He has been criticizing Wall Street for decades now, long before you guys. He actually warned people of Wall Street even in the 90th. And they reason why they keep raping you is because your government keeps bailing them out and helps them to play their game. In a free market those "rapist" would long be gone.
I know all I need to know about Schiff. #1, He was suspended from Wall Street for screwing his customers in the early 1990s (look it up kid). #2, he is a Jew on Wall Street (go ahead and focus on this point and ignore everything else because you are shoting blanks) #3, He is making ridiculous claims to pump up gold thus he is guilty of gold manipulation.
What's the point in arguing with you. You are just aggressive and insulting. We haven't heard a single argument from you here against his ideas (that are actually not his ideas at all but the thoughts of many reputable academic scholars whos thoughts he just copies - according to you they all earn their living by talking people into gold). Whatever, if you don't believe it, just don't buy gold. I'm fine with that...
There are certain times to be out of stocks completely. Schiff is a stocker broker and will never tell you that. Stock brokers are salesman so they will always be selling you something. If Schiff had a clue he would be able to time the market. Schiff fails bigtime. You idiots are in love with anyone you see on TV without checking his record. If you check it closely youll see he is lost
Yea Peter, like Washington needs the advice of a guy that makes ridiculous statements like the dollar is going to 0 and gold is going to $2000 by 2009..opps its 2010 and gold is hovering just over $1000. Washington has no need for hacks and extremists. They have plenty to go around.
The world is backwards Schiff. They say spend and you say save. I say if you are living from paycheck to paycheck you better save and buy commodities to head off inflation. Stock up on what you use on a regular basis to give yourself some padding cause this looks like it might hurt. The US needs to pull our troops back, which would save us millions per month, and pay off our debt. The media lies to us and says everything is fine while banks are closing and the stock market is volatile.
Please tell these working middle class people what they need to do to make the landing more comfortable. I still think most of America is living in fantasy land thinking "everything's fine!".
Peter, why don't you debate Mike Stathis? While the two of you agree on some issues, the issues where you disagree on, Stathis is 100% right. And he doesn't sell gold of stocks so he has no bias. And as you know, his track record is leaps and bounds better than yours. So Peter, if you want to go up against someone, try going up against a real expert for a chance instead of CNBC idiots. Come on Peter, be a man! Stathis is waiting for your call.
Peter, you say we need to produce more but you never mention why there are no jobs in the US. The answer is free trade. But you wont discuss that because you know that will all but destroy any chances you might have to gain a seat in Washington, which is all you really care about (other than making money at any cost, even if people are hurt by your reckless agendas).
Who is hurt by Peter? Are you? I don't think so. But I know a lot of people you are hurt by government interventions.
That there are no jobs in the US has little to do with free trade, just as the US of today have little to do with free trade anymore. Look at countries that really engage in free trade. They create jobs every second.
The US are a highly regulated governmentally run economy. It's collapse is actually the biggest proof that socialism doesn't work since the collapse of the SU.
I'll tell you who was hurt by Peter. His clients who were naive enough to listen to any hack on CNBC. You obviously didn't invest with Schiff or you'd be pissed.
So, did you invest with Schiff? Is this a personal thing here? If not, please let us know if you have any proof that people who invested with Schiff lost more money 2008 than those who went to Goldman. All I can see is that people who listened to his advice and bought gold are far better off than anybody else
And what is that "he was all wrong" thing. He failed to forecast the exact extend of some developments while everybody else failed to see the direction things went into
apparently you haven't seen how his clients got jacked. Schiff has no real strategy He lets his brokers buy and hold. You need to actively manage investments. Schiff and his clients missed the biggest market rally since the great depression too. Schiff is an extremist and he has no idea how to invest.
"Everybody else failed to see the direction"?Your problem is you watch CNBC
Have a look at a guy that isnt even in the same universe as Schiff .. avaresearch (dot) com
Schiff always has an excuse for a rising dollar that makes you think the dollar is risky. What he fails to mention is that the fact that currrencies trade relative to other currencies. That means it's all relative. The dollar is rising relative to the euro and yen because Europe and Japan's economies are in biggest trouble than the US. Peter, please remind everyone how your euro bet got crushed, as well as your other useless strategies. People, never pay attention to people with agendas.
That doesn't make much sense. Not only because your assumption that Japan and Europe is in bigger trouble than the US is completely off base. But even if they were, a day with bad news from the US still wouldn't be a day to buy dollar if the financial market was acting rationally. And it's going to happen. The Chinese are already diversifying there reserves. The fact that the dollar is still rising on bad news from the US is more a psychological problem.
If you don't know that Jaoan and Europe AND the UK are in much worse shape that the US, you've been watching too much CNBC. Do the research kid. You have no idea what you're talking about and I'm glad you are showing everyone this is the case. I never said to buy the dollar. I was pointing out that Schiff is like all salesmen - he never changes his pitch no matter how wrong he is. The Franc is the best currency to buy. Why won't Schiff admit he blew everything?
You are pretty offensive for someone who claims to have arguments. I don't watch CNBC or TV at all. You think you get economic knowledge by watching the right news station? "haha" to you.
And what's with that gold dealer stuff all the time? You think Schiff couldn't buy US-stocks for his clients if he thought they were bullish? How that? His income would be exactly the same if he recommended GM stocks instead of gold.
@ispeakthetruth2008 Vis-à-vis other fiat-currencies, the dollar may be doing comparatively well. But it is how the dollar is performing vis-à-vis commodities, which is the real test of how much purchasing power of commodities the dollar has. The dollar, ¥en or €uro, are not in an a position to buy more wheat, oil or copper, than they bought last week.
You're missing the point. Schiff always tries to explain his way out of a corner. The dollar is kicking the Euro's tail. Schiff was wrong again. The euro may not be around in a few years. The dollar is going nowhere.
Schiff also claims the dollar rose because the US stock market declined. lol. That association is very loose at best. Schiff is just a salesman. He is a marketer. He is for sheep. Real experts dont waste time everyday pitching to broke unintelligent people.
Peter Schiff does not deny that, as a businessman, he is a 'salesman and/or a marketer'. But, unlike the government and its financial services allies, he is not in a positon to compel you to act on his advice, the success of which is contingent upon the casino of the mixed market, since a free market does not exist, except to the extent that free market principles will always punish the errors of the mixed market, which you, and he and his clients must operate within, as best as possible.
@ispeakthetruth2008 , well other than the fact that he mentions that all those other currencies are in trouble too. So you think the euro and the yen are in more trouble than the dollar, while Schiff thinks the dollar is in more trouble than the euro and the yen - but instead of just saying that you have to make some shit up. Remember Schiff is pro gold - which is proof positive he understands other currencies are in trouble too.
of COURSE Schiff is pro-gold! He is a gold dealer you idiot! hahahahaha. Schiff is a gold hack. Gold has 0 true value. Once the gold bubble pops down the road you will see how anxious everyone is to sell it. And gold does not protect againist inflation. All Wall Street big guns know that. Sorry Charlie, you've been had.
we are wasting our time arguing about this, our govt is corrupt and run by lobbyist (bribsters). why would they do anything that makes sense when it is more proftitable to waste all of our money.
I am in Canada and would like to buy your father's books but on the donation page I cannot enter my canadian address. Is there someone I can contact or another website I can use to order his books?
why are you so old
BoatBomber 1 year ago
@BoatBomber Why do you ask retarded questions?
TWSceptic 2 months ago
How can America produce when most of the products they consume comes from abroad: Clothes, electronics etc?
roger767 1 year ago
@roger767 apply a tarriff that matches the tarriffs these countries have on our products. Look it up. It's at the point now where if we even talk about raising tarriffs, these other countries retaliate with EVEN HIGHER tarriffs. I say fine, if they want a trade war, so be it. We're just trying to level the playing field. Things will be more expensive for us, but we'll have more money to pay for it because more americans would be gainfully employed.
Digali 1 year ago
Why should the rich get a tax cut in this climate? What is the evidence that the saved money will find its way into job creation programmes etc..? Very counterintuitive. I agree that Schiff is entirely right to condemn Reich for his bizarre theory that consumer spending will somehow help America out of recession / depression; indeed, more spending on manufacturing industries etc., is exactly what is required. I do feel that a tax on the rich, combined with reinvestment in job creation works.
BeholdZeus 1 year ago
Comment removed
Digali 1 year ago
5.75 to 5.00%? I don't think thats worth the money. I reduced mine from 5.875% to 3.75%.
GreatInca 1 year ago
Wait a second, this isn't American Idol.
croissantanyone 1 year ago
This has been flagged as spam show
peter schiff u are a great guy, im writing from australia, sydney, ive watched most of the videos u have posted. after listing to all your videos i started buying gold , i started about 10 months ago, ive bought 40000 dollars so far and i will cont to buy gold , because of whats happening around the world and the econ....... THANKS :)))))
australia0204 1 year ago
the whole thing is being engineered; i swear it is.
NWO wants the economic collapse so they can repossess all the land, and drive people onto the streets. they want us enslaved.
i suspect that unless things change(for the better) soon, that the masses of starving unemployed will start riots in all the major cities.
people are the most dangerous when they have nothing to lose...
alzathoth 1 year ago
So what do we do ? Learn how to speak chinese?
asianliciousonline 1 year ago
Sometime you dont have to wait for government , sometime economics take care of themselves..
We will see....but i predict 2011 to be the YEAR of CHANGE !
And change isnt easy ! :-)
ibelucky1 1 year ago
@ibelucky1
Sounds reasonable... btw some say that the actual year of change based on mayan calendar isn't 2012 but 2011 and it should happen in february and october :)
MushroomCloud666 1 year ago
yea... 2011 will probably be the year of change all right... the year of mass panic and rioting! :)
alzathoth 1 year ago
THE QUICKENING
I just did a reading that housing sales have droped 27% JULY 2010.I have also read that 70% of the bail out has been used and the economy is starting to slide backwards , this shouldnt happen in the mid of summer folks. Well do the math lets see , economy slowing , stimulus running out , 2 more waves of forclosures peaking FEB 2011 , isnt this about the same time stimulus will run out.???
I predict that 2011 will be the part in the movie where Laural and Hardy meet Dracula !
ibelucky1 1 year ago
Peter, I have been very confused about the Chinese Yuan peg. I have been told it is pegged to the usd dollar and I have also been told it is pegged to a basket of currencies. Either way does their peg actually give them an advantage in trade or are the complaints about the peg overblown. why would they not want to float their currency like everyone else.
rkhoja 1 year ago
Peter, since you didn't make it to the Senate, you should work on becoming a talking head on the MSM. You would do an AWESOME job at fricking arguing these idiots.
bajoverga 1 year ago
Britain is the best example of a collapsed empire........Britain started removing herself from an industrial economy to a service economy back in the early sixties.
She lost confidence in her ability to manufacture goods and also used the empire especially Hong Kong to make cheap goods and now Britain finds herself stripped of her wealth,dependant on foreign companies like Honda,Toyota and Tata of India etc and noiw her #1 company BP is under financial threat of disapearing
capnvideo2006 1 year ago
Peter, your efforts and message are not being ignored. You are having a significant impact, even if it's not completely visible to you. Please continue working to advance the concepts that you know are true. I'm doing the same along with you.
electroplate 1 year ago
@electroplate
I'd love to believe that, but as a PA resident I have to ask, who's currently winning in CT? I'm just saying with all this media attention McMan is getting.
I'm just completely baffled that FOX news calls themselves conservative, but promote McMan, even if she pays them millions. If hannity we're a true patriot and fiscal conservative, he's let Schiff on his show for FREE !
y0uG0tpwned1 1 year ago
Look it up,. Japanese economy history,. Its exactly the road we are traveling, step by step
TheLivingDeadOne 1 year ago
@TheLivingDeadOne
That could not be more wrong.
See "iTulip"
largo2001 1 year ago
For the hell of it,. I looked up Japans economic history,. and you know what I found out? We are following dead on what the Japanese have done,. Look it up,. Japanese economic history,. All the tactics are exactly the same.
TheLivingDeadOne 1 year ago
Dude, so you are saying day trading is the way to go? That is the equivalent of flipping a coin. You are talking total nonsense to the average investor.
kkjhhkjhkj 1 year ago
@kkjhhkjhkj I don't day trade as a rule, but I will occasionally take a trade that I'm willing to let go at the end of a day depending on my portfolio as a whole.
Flipping a coin you say> Like the masses that flipped the big one from 2000 to 2010?
Nonsense huh?
Talk to me when you actually make a return. You're full of shit. Holding MSFT for a 2% div. Give me a break. What a waste of money and time you don't have and I don't care if your Grandma gave it to you on her death bed.
mcdonaldscalling21 1 year ago
@mcdonaldscalling21 Yeah and you're a tool. I bought the best performing stock in the history of the stock market. Is that not a return pussy? You're a waste of space. I bought BA at 35 and it is now at 63. You would have probably sold it a 40 because you are a pussy, You are just rambling jibberish like you know how to invest. You don't know anything but to criticize like an idiot. I don't care if you say one thing that makes sense because you're a tool.
kkjhhkjhkj 1 year ago
@mcdonaldscalling21 Your argument is absolute bull. If you are talking about index funds then you are correct, you would be where you were 10 years ago. I am not talking about index funds. I am talking about STOCKS. Apple: 2000- 33; today: 245. That one would have sucked to buy and hold right? Berkshire Hathaway: 2000- 36.40 today: 77.23; Shit man- your screen name: 2000- 37; today: 73.34. Nonsense Huh? Like I said, pussy!
kkjhhkjhkj 1 year ago
@mcdonaldscalling21 I also bought a nice piece of art work in 2003 for 2500; today I have seen it selling for close to 10,000. I probably shouldn't have held it for so long?
kkjhhkjhkj 1 year ago
*their
kkjhhkjhkj 1 year ago
Everyone has there own strategy. I follow what the masters do: Ben Graham, Warren Buffett, Sir John Templeton, and Peter Lynch.
kkjhhkjhkj 1 year ago
@kkjhhkjhkj I don't even want to discuss Buffet. He's a made man and is as crooked as the rest. Lynch lived in a market that never went down, big deal.
Those guys are false icons in a world from long ago. You can't do what they did, and you can't get the private deals Buffet gets even when you know about them.
This isn't capitalism anymore.
You're talking total nonsense to the average investor.
mcdonaldscalling21 1 year ago
I don't know man, I think right now is a great time to get in the market. MSFT wasn't a company in 45, or was that rhetorical? I own other stocks. Right now, I see a lot of promise with this asian fish snacks company (ticker:cmfo). P/E is around 8, it has had huge increases in earnings over the last few years consecutively. It is expanding operations, it is priced around 6 bucks, has a high ROE, and has recently had a huge buy up of shares by insiders...
kkjhhkjhkj 1 year ago
@kkjhhkjhkj I agree with you. This seems to be a good time to be getting back long into the market. In the oils and oil service sector right now myself. Of course when you don't ride it down from the top, or better yet went short, you've got the cash on hand when you need it. But now again, we're talking timing, and before you were telling me how buying and holding forever was the better play....
mcdonaldscalling21 1 year ago
The rule of thumb is, when people are cautious, be greedy, and when people are greedy, be cautious.
kkjhhkjhkj 1 year ago
@kkjhhkjhkj People are damn cautious now, lol.
mcdonaldscalling21 1 year ago
When things are shaky, people stay on the side lines and when things turn around, the market shoots up and they miss out. The market was dead from 65 to 85. When interest rates rose, the market has performed incredibly. Fact of the matter, From 1910 to the present the market has increased 10,000. If you hold and not let your stomach get in the way, things will get better. Whenever the economy is in a slump, everyone always says its the end, but it always recovers.
kkjhhkjhkj 1 year ago
Great video. Thanks!
logalogalog 1 year ago
The people in Washington don't want listen to Peter because they are the ones causing the problems.
Anyhow Peter does not need to worry about the banks if they are about to blow up they can print more money and get it to them one way or another.
davincij15 1 year ago
I agree totally. I say you will see it by the spring of 2011 and the summer of 2011 will be a long, long, summer.
Truthpolice9698 1 year ago
"People won't suddenly sell out of gold" is speculation. You are not a prophet. I didn't say gold will go bust in a couple months. I said it will go bust when the economy stabilizes. The hunt brothers propped up the price of silver and not gold by the way. Gold was a bubble during that time interval. Can you please tell me, right now, what are you investing in today that will make me money? I am going to write the investments down and follow them and witness your magic.
kkjhhkjhkj 1 year ago
So, what are you investing in? I don't know man, I am a long term investor. Boeing has done really well, Microsoft pays a good dividend, GLD has performed crappy from where I bought it (gold ETF), IBM has done well from where I bought it.
kkjhhkjhkj 1 year ago
@kkjhhkjhkj MSFT pays a shit dividend and is a dead-end stock. Long term investors, since most are, have done very poorly over the last decade thanks to the last few years. Long term investing can only win when markets only go up. Traders kick the snot out of 'investors' because they don't take the full downside AND they'll also go short when the market allows. BA as of this writing is 63. It was also 63 in 2000. Add dividend, remove inflation = shit.
mcdonaldscalling21 1 year ago
@mcdonaldscalling21 I bought I sold GE shares and bought BA at 35. That's a good gain. It is coming out with the Dreamliner soon. That should increase earnings well and push its price up. Regardless, its a good company and will do well in the long run. MSFT pays a 2.1% dividend. Not great but not bad. MSFT was put in a trust fund for me in the early 80's when it was issued. It has split like 20 times. It is a dead stock. I am using it more or less like a bond at this point. It is safe.
kkjhhkjhkj 1 year ago
@kkjhhkjhkj I don't care where you bought anything. I am pointing out that a buy and hold strategy blows unless the unwitting person trips over a great time to have gotten into a stock (BA). MSFT stock is the same now as it was a decade ago - splits included. Their div is shit. it's a dead stock and has been for a long, long time. Why on earth would 2% div keep you in an equity given the risk profile of such. You can get 2% anywhere. It makes zero sense.
Dreamliner, sounds like some portfolio's
mcdonaldscalling21 1 year ago
@mcdonaldscalling21 It blows from 2000-2010. It didn't blow from 1945 to 1960, or 1985 to 2000. MSFT is safe. I can sell it at anytime and trade it if I find something better. I am being safe right now. Do you have any suggestions?
kkjhhkjhkj 1 year ago
@kkjhhkjhkj What was MSFT's price in 1945?
Your problem is you choose one stock that made it, like you wouldn't also have bought '724 Solutions' and all those other jack-shit stocks I have long forgotten. Look around dude at the real people on here that have bought and held for the past decade or more. They're down huge, still. That's the reality of what you're saying. But by all means, keep trying to avoid reality. B&H sucks ass, because you always end up giving it back. No exit strategy.
mcdonaldscalling21 1 year ago
@kkjhhkjhkj By the way, do you notice you're now talking timing when before you were talking buy and hold?
mcdonaldscalling21 1 year ago
@mcdonaldscalling21 Also, there is an etf (ticker:tbt) that shorts 20 year treasury yields. Bond prices are ridiculous right now. That is almost a sure gain. Dell is trading extremely low and has a high P/E. 2.) Well, stocks business operations change all the time. Selling based off of logic makes sense when you can find better companies that you think are leveled at more affordable prices and have greater long term potential.
kkjhhkjhkj 1 year ago
@kkjhhkjhkj My suggestion? Yes, don't buy and hold. If 10 years isn't enough to ensure a profitable outcome, then what the hell would make people believe B&H will work moving forward? Luck? What if the majority of your time spent in the market was during one of those shitty decades? Fucked now huh?
Learn to trade, learn to not be 100% invested, learn position sizing and learn how to take a 10% loss instead of a 30-40-50% loss. Understand that this is a rigged game. How about we start there?
mcdonaldscalling21 1 year ago
Dont sugar coat it Peter! lol I agree though I have moved a portion of my savings to silver and gold and I am doing my best to stay out of debt and prepare with food storage etc..
bleckmon 1 year ago
@ispeakthetruth2008 if you don't understand then you're ignorant
crispymidget 1 year ago
Hi Peter, You're going to be on the Australian current affairs show "Four Courners" tonight. If you're not already aware google "iView". The show should be posted in the next few hours (legally) on the Australian Broadcasting Company's (our ABC down under) iView online channel.
pjohnh 1 year ago
@pjohnh program is unavailable outside australia
j24800 1 year ago
Something else to think about is, even though there is an insane unemployment rate out there, companies earnings have been pretty remarkable throughout all of this. That is a very key indicator. But if you look at the majority of insider transactions of firms, at least the research I performed, you can see a huge sell off of insider shares. What companies does anyone see performing well 10 years from now? Coke, Pepsi, Walmart, Chipotle, Mcdonalds? Maybe those are the safe havens.
kkjhhkjhkj 1 year ago
is very risky as well. China has its own bubbles and is looking at inflation. Gold is a very volitile metal and I would definitely not call it a safe haven. It is capable of popping at any time just like the dollar. Its price is determined by supply and demand and not neccasarily money printing. So? What good does having all the information do? How to preserve wealth? TIPS Bonds?
kkjhhkjhkj 1 year ago
@kkjhhkjhkj I hear what you're saying about how to preserve wealth and really I don't see any safe way now. No one is offering good ideas on that either I think mainly because everything is overvalued at the same time that the FED is printing a ton of money. But one thing for sure is this would be the time in life to buy something you've always wanted or maybe travel because this could be our last chance. Once inflation hits we will lose that opportunity at the price it is today.
jonshriegl 1 year ago
@jonshriegl don't forget precious metals. as long as humans partake in the division of labor we will need a medium of exchange. PMs have provided this and other function for longer than fiat currencies have been in existence.
kkuhn 1 year ago
@kkjhhkjhkj Do you understand how prices work? For gold to be in a bubble it would have to outdistance most other commodities. Meaning over time the same amount of gold would buy far more wheat, or sugar, or oil.
This hasn't happened. The housing bubble was like that, average person's income vs cost of house in same area. It went up dramatically.
There isn't a bubble in gold, it's actually suppressed substantially. Silver even more so.
No wonder you are confused on where to invest.
sirellyn 1 year ago
@sirellyn How is gold/silver suppressed? What if things turn around for a short period of time, like 6 months or so, people feel things are stable and then people sell out of gold and put their money in the market? Is that not a possibility? Will golds price shoot up then or will it pop? Look at a chart of golds price at the 1978-1982 interval. It definitely wasn't a bubble back then. Just like it's not today. You should put all your money in gold. You will be pleased with the results.
kkjhhkjhkj 1 year ago
@kkjhhkjhkj Metals suppression perhaps you haven't seen GATA's testimony to the CFTC.
watch?v=9wIMpe9SjfQ
People won't suddenly "sell" out of gold. Do you know what happened during 1982? Have you studied the hunt brothers?
Even if the US bans gold or tries to publicly price set it, aside from severe riots you would have black market which would pay 5-10x the price gold is now.
And no matter how good a deal is, you never put all your money there.
sirellyn 1 year ago
@sirellyn I'm just curious, how do you think I should allocate my portfolio? If you are so good at investing, are you a billionaire?
kkjhhkjhkj 1 year ago
@sirellyn By the way, sugar is down around 40% from November 2009 whereas gold is constant. Looks like gold can buy a LOT more sugar. That's just one example. Maybe it is you who needs to understand how prices work.?
kkjhhkjhkj 1 year ago
@kkjhhkjhkj Yeah it sounds like a good time to buy sugar considering what is happening to wheat.
My portfolio has been consistently increasing for the past 3 years listening to the likes of Peter Schiff, Jim Rogers, Marc Faber and even Ron Paul.
I've easily outpaced the likes of walmart and coke by 2-3 times.
How's your portfolio doing?
sirellyn 1 year ago
@sirellyn You sound to me like a speculator. I am an investor. Investors win, speculators lose.
kkjhhkjhkj 1 year ago
@kkjhhkjhkj Really, so I research the history and potential of all my investments. Link you to proof of gold suppression, invest in terms of years, and instruct you on the background and reasons why I'm confident with my investments, and you "wonder" if gold will go bust in a couple months?
Look up the dictionary definition of speculate and get back to me.
sirellyn 1 year ago
OK, so the dollar collapses right? What do we do with our money? The market in the 70's performed terribly during inflation. The money supply has shot up 95 to the present 10 fold and the market has correlated closely. A recession though results in a horizontal trend in the market and if there is inflation with a recession, the market should not perform well. The US Economy is the largest in the world, a recession here is felt around the globe. International diversification...
kkjhhkjhkj 1 year ago
I thought you were renting. Guess you bought.
zeropointpower 1 year ago
Even Barney Fwank admitted to Kudlow that he was wrong in making laws to force banks to give home loans to those who couldn't to own homes. This is the same inbecile who gave us the fix to it, which is anything but a fix, as Peter describes near the end. It seems dems are intentionally bringing the economy down to crash America in order to level the global playing field for the NWO.
The likely event to come involves Iran and Israel, which could bring everyone into it. Then all bets are off.
ObowMao666 1 year ago
If anyone is bitching about Obama or Bush, Republicans or Democrats, consider who do they work for? Who owns long trusted sources of mainstream news media? Wall Street. Capitalism is good for math skills, but bad in practice. I could Jesus-smack a Teabagger right now.
SnatchTease 1 year ago
Schiff, please make a blog where you discuss in details, what you spent the last 30-60s on here, thanks.
antisharia 1 year ago
Schiff not in DC = US fail
flyinbry 1 year ago 2
How about you debate Robert Prechter, stop being scared and just argue your points on inflation and deflation. Because no jobs and a slowing economy is deflationary, not inflationary...
vballtrojan8 1 year ago
@vballtrojan8 A government can simultaniously debauch its currency and put people out of work. They aren't mutually exclusive conditions. That is to say, printing money doesn't necessarily make people have jobs.
GaryVolts 1 year ago
@vballtrojan8 economy can be inflationary and deflationary at the same time. lol :)
the banks tighten up their lending, causes credit crunch means money supply shrinks, deflation. but meanwhile the government is printing up a storm, inflation.
DickeyRogers 1 year ago
@DickeyRogers I know all these things, but when I make a reference to inflation and deflation, I'm talking about Peter's views on Gold. While I agree that maybe 3 or 5 years down the line gold will rise to catastrophic heights, I think it will have a major fall before it rises. Gold will hit maybe $1300 by the end of the year and watch it be cut in half...
vballtrojan8 1 year ago
@UberRepub111
It probably doesn't. After all, the politic is about show-offs and entertainment for the public. As long as you keep the appearance, you are successful. Keep the masses happy..with entertainment skillz.
Where do we get these assholes?
YoungSpotUBrock 1 year ago
The US Strong Dollar policy means the agents of the FED buy treasuries and sell gold. The Gov manipulates everything else. Why would you even think that they don't manipulate markets? On a large scale.
MrBankRuns 1 year ago
So simple and true.
lushfauna 1 year ago
Hey Pete,
What are your thoughts on Dow Theory?
timbosquad 1 year ago
So does anyone out there know how it works with the banks and interest rates? If what Peter says is true, how can they ever survive in times of rising rates? Do they just increase the "spread" to cover themselves or what? I never thought about it before, I just thought if a bank gives you a fixed rate for 30 yrs then they also were fixed for 30 yrs on their end. Can someone please explain? Thanks.
nobama1001 1 year ago
Leftists are Keynesians as it justifies their "targeted" tax cuts.
AristophanesNow 1 year ago
@UberRepub111 I think he was trying to show that she isn't qualified to be a senator in a time of dramatic economic strife. So I'm curious, if you're in Texas, why take such a strong interest in the CT primary?
GaryVolts 1 year ago
@UberRepub111 I think you're confusing me with another of the many Schiff supporters here. I remember the post from someone else that said she inherited the business from her husband. I don't know what a wrestling show has to do with economics, so I don't know why she is qualified to take on the problems we face as a country. I looked at some of your stuff- You know America isn't about some racial or religious identity, thats what made it great. Its about he rights of the individual.
GaryVolts 1 year ago
@UberRepub111 What was dishonest about his ads? She gave money to democrats, its a fact. Does a principled conservative do that? He ended up third because he over estimated the intellegence of CT registered republicans.
GaryVolts 1 year ago
stagflation
caddyshack12190 1 year ago
Peter, one thing I am unclear on is trade deficits. It seems that you believe these to be a major reason as to why we are in this current recession.
However I have read various columns from Walter E. Williams in which he says trade deficits are basically irrelevant. He points to the fact that 9 out of the 10 years of the Great Depression we had a trade surplus.
VictoryCough 1 year ago
@VictoryCough I think you want to look at the period that preceeded the depression. Remember, fear the boom, not the necessary bust.
GaryVolts 1 year ago
@GaryVolts Yes, but what was the bust? Was it September 2008 or is it right now. The market has shot up like a rocket since March of 2009 and has been hovering in the 10/11000 interval over the last 8 months. I think a good plan is, keep 25% of assets in index funds, 25% in domestic stocks, 25% in international stocks, and 25% in cash. The cash can be used either to pay for bills or used to buy up stocks at lower levels if it comes to that. Better safe than sorry.
kkjhhkjhkj 1 year ago
@UberRepub111 No, he ended up in a distant third because he refused to drop all of his principles and just tell people what they want to hear.
It's called pandering for votes and I am glad Peter did not resort to that.
VictoryCough 1 year ago
@UberRepub111 What positions does Peter take that you disagree with? And why are you watching his vidoes, dont you have something better to do like watch linda's vidoes ha. Yeah she would be great at cleaning up this mess. She would choke slam this mess until it tapped out!
AlexanderHarcourt 1 year ago
@UberRepub111 You don't speak for the kind of people that supported Schiff in the primary.
GaryVolts 1 year ago
thanks for the intel as always !
tylerzchance 1 year ago
@UberRepub111 Not sure why you are personally attacking me unless its because that is really the only point of attack you have. Anyway back to facts. Registered voters can vote mr uberneocan. So as a registered voter she voted for democrats... Shes not a business woman she inherited a business from her husband. If you dont like Schiff why dont you stop watching his videos? He is a classical republican. You know the kind of republican that ran this country when it worked!
AlexanderHarcourt 1 year ago
Any collapse though would be partially the banks' own fault for making poor mortgage refinancing deals with borrowers. If the banks and lending institutions are scared of holding losses the they need to stop being greedy by taking government money for virtually nothing and then offering shiny, new refinance deals to consumers.
britishjohn04 1 year ago
The government nipple is going dry and the piglets are hungry and confused. A hungry piglet then become aggresive. Nancy Pelosi in a nutshell...lol
petiemac24 1 year ago
youtube has a 10 minute limit on videos. peter stuffs a lot of info inside 10 minutes.
xtarka 1 year ago
@xtarka
10 mins of dribble and whining.
hiljaaidiotii 1 year ago
I thought all of you Schiffies would like this article about the recession.
David Rosenburg has a new article out called
"The Never Ending Recession."
I found it on business insider.
Let me know what you think about David Rosenberg's opinion. It has been my sentiment about our economy all along. The Recession Never Ended so there will be no double dip. Go read entire article.
bkdmd 1 year ago
I thought Peter said he rented his home?
aw3212 1 year ago
@aw3212 I guess he could have finally bought, but my thought was that he was really speaking of the place he got for his mother last year. I kinda chuckled because I just refi'd to the hilt, a debt free home just two months ago. Managed well, you can make some serious financial gains with the cheap money they're willing toss out there. I'll take it, and take all they're willing to lend.
mcdonaldscalling21 1 year ago
@mcdonaldscalling21 Curious, where are you investing the money?
GaryVolts 1 year ago
@GaryVolts I stick it into stocks, commodities, and currencies when I feel the time is right for a given move. Quite frankly, I also like the idea that if the shit really hits the fan in the housing market, in some respects I am covered.
mcdonaldscalling21 1 year ago
Peter you need to put the last part of the video at the start ! you have nailed the next crisis, one of the commentors below has also made a valid point that the GDP growth will come from expanding the public service. The true collapse will come when interest rates rise and the banks go bankrupt again.
harrybath 1 year ago
Great information as always!
Peter, you should shoot more videos on the road. The acoustics in that hotel room are FAR better than the acoustics in your office.
beebaabaa 1 year ago
@UberRepub111 It was a primary campaign, thats what you do. She just proved that a seat congress is for sale to the person with the fattest wallet. You think she knows half of what Schiff does about economics?
GaryVolts 1 year ago 2
It will grow at 4% because they will grow the government by 6%
nicademus1974 1 year ago
@UberRepub111 Linda has voted for democrats multiple times. Not to mention sending them money... Not sure how Schiff has done anything to make him liberal. Maybe some evidence instead of outrageous claims?
AlexanderHarcourt 1 year ago
Peter, I have read all your books and generally agree with you. I do have to say this though. You seem too concerned with getting credit with things you said years ago and its obvious you are the unpopular kid trying to sit with the cool crowd at lunch. I'm sure you don't mean it, but lately you are coming off not as someone who can fix this mess, but someone who just wants to say I told you so. You seem really annoyed when the dollar doesnt go down. Help us Peter! Move to PA and run.
soleblazer 1 year ago
@UberRepub111 You are a joke, sir.
SvrchovaneCechy 1 year ago
I have copied the following from a news article (from EuroPac's website), titled: Paulson Moves To Rescue Fannie Mae Bondholders, dated July 14, 2008. Does anyone think that the housing recovery has been sped-up?
ISUringman1974 1 year ago
@ISUringman1974 By "recovery" do you mean a resumption of historical ratios to rents and incomes or do you mean going back to bubble level inflated prices?
GaryVolts 1 year ago
@GaryVolts --- Hi Gary, all I did was copy a quote. I guess we could guess what the guy meant by recovery; but, I would assume he meant more "bubble-forming" inflated prices. In contrast, Peter Schiff asserted that would be the exact wrong thing to do. I think Peter was right.
BTW --- I checked out your channel...I second your thoughts regarding Ron Paul!
ISUringman1974 1 year ago
"Regardless of Fannie or Freddie's fates, foreign central banks that own this debt will face losses, the president of Euro Pacific Capital, Peter Schiff, said. "If Fannie and Freddie go under, the debt will not be paid," he said, adding that if the two companies are bailed out, the central banks "will own debt in dollars that is worth less due to inflation."
ISUringman1974 1 year ago
The Bush Administration bailout as laid out yesterday would result in the American taxpayer covering the debt for both the foreign central banks and other holders of Fannie and Freddie debt. "Bailing these companies out will cost more than letting them fail," Mr. Schiff said.
ISUringman1974 1 year ago
Some said the new plan could actually speed up the recovery of the housing market. The president of Naroff Economic Advisers, Joel Naroff, said that during the savings and loan crisis on the 1980s, government-backed Resolution Trust Corp. bought out failing savings and loans. . "Ultimately, if you have to use taxpayer money, that's an investment that may work out most conveniently." --- Joel Naroff
ISUringman1974 1 year ago
Thanks for the valuable info Peter.
mja2035 1 year ago
I agree with Schiff, nobody wants reality or to hear the truth. They keep delaying the inevitable. Fox & Co. are just stock-pushers. I can't believe that one of the top clowns is still trying to sell his wares, Jim Kramer. A man that never got it right. Nobody is right all the time, but Peter Schiff has seemed to nail it pretty good along with others like Faber, Roubini & Celente. The pain will come whether the disbelievers want it or not!
450984 1 year ago
Peter its not a matter of the gov just getting bad information and them continually making the same mistakes. Realize that they're doing it on purpose!!!
dickmoe99 1 year ago
Please do not feed the trolls. There are several users making vitriolic attacks; they do so mainly for attention. If you ignore them, they will leave. When you respond, it energizes them and keeps them coming back for more. Please search Google for "Internet troll" for more information. And remember: Do not feed the trolls!
anevilpettingzoo 1 year ago 2
@anevilpettingzoo
ok, no peanuts for you today then.
hiljaaidiotii 1 year ago
Mr. Schiff, your voice is a lonely one in the desert. USA is sinking just like USSR did it two decades ago and with Obama aka Gorbachev on the drive wheel there is no chance to avoid that destiny.
Your words are so right, sometimes I wonder if you are the only sane person in USA? The only one who has eyes and use them to see and watch the reallity?
I wish you luck and I am sure that if in Connecticut there are people with two working brain cells you will be the next senator from that state:)
darthsuriel 1 year ago
to you "don't speak the truth" guy - then why are smarter people buying gold in the millions, like the governments of India and China. The Chinese came a little late and ar sorry now because the value of gold can only go up. And these guys certainly did not buy from Schiff. Schiff is basically not a "gold dealer," but a broker and a very smart investor and investment advisor. As to the real value of gold, study its history - the facts all speak for it as the last resort of value.
focus21x 1 year ago
@focus21x
Another clueless idiot. Schiff is the EXCLUSIVE gold dealer in the US for thr Perth Mint in Austrailia you fool! Gold has no real value. If Schiff was a smart investor, he wouldnt have gotten blasted apart like he did. check a guy who told people to short fannie and freddie in his 2006 book Mike Stathis... avaresearch(dot)com... Schiff isnt even in the same universe as him and Stathis doesnt sell gold or securities. He advises hedge funds. Schiff deals with broke naive sheep
ispeakthetruth2008 1 year ago
To Clarissa - you sound like a real Marxist/communist, probably a college teacher, who thinks the rich don't deserve what they have worked for and that their investments, even plain savings accounts, don't "share enough wealth" with the less competent, underperfoming "poor," like most members of teachers unions. The idea of tax cuts is to stimulate job creation and growth, and, strangely enough, cutting taxes means more taxes for the IRS.
focus21x 1 year ago 3
Schiff is at his best in what he does here - share enormous wisdom, depth and a surprisingly large weight of plain common sense that surprisingly, or not, most Ph.D.'s in economics don't seem to have, and certainly not most politicians, and tv journalists.
focus21x 1 year ago 4
@focus21x
Only novice investors think Schiff has a clue. Schiff is so far off the deep end that his advice is worse than the bull market jokers in the media.
ispeakthetruth2008 1 year ago
@ispeakthetruth2008
110% correct brother. however, once schiff sees your comments, he will start censoring you.
for alternative opinions about this snake oil salesman schiff, visit:
mrjessiejclark
solitaryfracture
schittreport
dgslop
hiljaaidiotii 1 year ago
All America needs is another Wall Street guy in Washington who wants no government regulation so Wall Street and corporations can rape us more. yea, great plan for you and your Wall Street buddies Peter!
ispeakthetruth2008 1 year ago
@ispeakthetruth2008
Peter and "his Wall Street buddies" rape you? You obviously don't know much about Peter. He has been criticizing Wall Street for decades now, long before you guys. He actually warned people of Wall Street even in the 90th. And they reason why they keep raping you is because your government keeps bailing them out and helps them to play their game. In a free market those "rapist" would long be gone.
Mnotaname 1 year ago
@Mnotaname
I know all I need to know about Schiff. #1, He was suspended from Wall Street for screwing his customers in the early 1990s (look it up kid). #2, he is a Jew on Wall Street (go ahead and focus on this point and ignore everything else because you are shoting blanks) #3, He is making ridiculous claims to pump up gold thus he is guilty of gold manipulation.
ispeakthetruth2008 1 year ago
@ispeakthetruth2008
What's the point in arguing with you. You are just aggressive and insulting. We haven't heard a single argument from you here against his ideas (that are actually not his ideas at all but the thoughts of many reputable academic scholars whos thoughts he just copies - according to you they all earn their living by talking people into gold). Whatever, if you don't believe it, just don't buy gold. I'm fine with that...
Mnotaname 1 year ago
@Mnotaname
There are certain times to be out of stocks completely. Schiff is a stocker broker and will never tell you that. Stock brokers are salesman so they will always be selling you something. If Schiff had a clue he would be able to time the market. Schiff fails bigtime. You idiots are in love with anyone you see on TV without checking his record. If you check it closely youll see he is lost
ispeakthetruth2008 1 year ago
Yea Peter, like Washington needs the advice of a guy that makes ridiculous statements like the dollar is going to 0 and gold is going to $2000 by 2009..opps its 2010 and gold is hovering just over $1000. Washington has no need for hacks and extremists. They have plenty to go around.
ispeakthetruth2008 1 year ago
I picture the dollar index like a falling feather. It see saws and sways back and forth but its still falling.
lilbromarky1 1 year ago
The world is backwards Schiff. They say spend and you say save. I say if you are living from paycheck to paycheck you better save and buy commodities to head off inflation. Stock up on what you use on a regular basis to give yourself some padding cause this looks like it might hurt. The US needs to pull our troops back, which would save us millions per month, and pay off our debt. The media lies to us and says everything is fine while banks are closing and the stock market is volatile.
vesiclife 1 year ago 2
Please tell these working middle class people what they need to do to make the landing more comfortable. I still think most of America is living in fantasy land thinking "everything's fine!".
vesiclife 1 year ago 3
Okay what to do with our money? Please do not say PMs because its way too high and at risk of being a bubble.
btigtime2 1 year ago
speak about free trade and mercantilism Peter--stop ignoring the gorilla it is sitting right beside you...
tokyorealestateman 1 year ago
@tokyorealestateman
you're so wrong, this is "corporatism", it's not the same thing at all, corporatism = bad, free trade and mercantilism = good, hmmmm, right?
TheDummydude 1 year ago
thx for the forex tip keep the intel coming.
AEVautomatic 1 year ago
this guy is starting to give me a headache
I'm not voting for him
TheFlex21 1 year ago
Peter, why don't you debate Mike Stathis? While the two of you agree on some issues, the issues where you disagree on, Stathis is 100% right. And he doesn't sell gold of stocks so he has no bias. And as you know, his track record is leaps and bounds better than yours. So Peter, if you want to go up against someone, try going up against a real expert for a chance instead of CNBC idiots. Come on Peter, be a man! Stathis is waiting for your call.
ispeakthetruth2008 1 year ago
Peter, you say we need to produce more but you never mention why there are no jobs in the US. The answer is free trade. But you wont discuss that because you know that will all but destroy any chances you might have to gain a seat in Washington, which is all you really care about (other than making money at any cost, even if people are hurt by your reckless agendas).
ispeakthetruth2008 1 year ago
Who is hurt by Peter? Are you? I don't think so. But I know a lot of people you are hurt by government interventions.
That there are no jobs in the US has little to do with free trade, just as the US of today have little to do with free trade anymore. Look at countries that really engage in free trade. They create jobs every second.
The US are a highly regulated governmentally run economy. It's collapse is actually the biggest proof that socialism doesn't work since the collapse of the SU.
Mnotaname 1 year ago
@Mnotaname
I'll tell you who was hurt by Peter. His clients who were naive enough to listen to any hack on CNBC. You obviously didn't invest with Schiff or you'd be pissed.
ispeakthetruth2008 1 year ago
@ispeakthetruth2008
So, did you invest with Schiff? Is this a personal thing here? If not, please let us know if you have any proof that people who invested with Schiff lost more money 2008 than those who went to Goldman. All I can see is that people who listened to his advice and bought gold are far better off than anybody else
And what is that "he was all wrong" thing. He failed to forecast the exact extend of some developments while everybody else failed to see the direction things went into
Mnotaname 1 year ago
@Mnotaname
apparently you haven't seen how his clients got jacked. Schiff has no real strategy He lets his brokers buy and hold. You need to actively manage investments. Schiff and his clients missed the biggest market rally since the great depression too. Schiff is an extremist and he has no idea how to invest.
"Everybody else failed to see the direction"?Your problem is you watch CNBC
Have a look at a guy that isnt even in the same universe as Schiff .. avaresearch (dot) com
ispeakthetruth2008 1 year ago
Schiff always has an excuse for a rising dollar that makes you think the dollar is risky. What he fails to mention is that the fact that currrencies trade relative to other currencies. That means it's all relative. The dollar is rising relative to the euro and yen because Europe and Japan's economies are in biggest trouble than the US. Peter, please remind everyone how your euro bet got crushed, as well as your other useless strategies. People, never pay attention to people with agendas.
ispeakthetruth2008 1 year ago
@ispeakthetruth2008
That doesn't make much sense. Not only because your assumption that Japan and Europe is in bigger trouble than the US is completely off base. But even if they were, a day with bad news from the US still wouldn't be a day to buy dollar if the financial market was acting rationally. And it's going to happen. The Chinese are already diversifying there reserves. The fact that the dollar is still rising on bad news from the US is more a psychological problem.
Mnotaname 1 year ago
@Mnotaname
If you don't know that Jaoan and Europe AND the UK are in much worse shape that the US, you've been watching too much CNBC. Do the research kid. You have no idea what you're talking about and I'm glad you are showing everyone this is the case. I never said to buy the dollar. I was pointing out that Schiff is like all salesmen - he never changes his pitch no matter how wrong he is. The Franc is the best currency to buy. Why won't Schiff admit he blew everything?
ispeakthetruth2008 1 year ago
@ispeakthetruth2008
You are pretty offensive for someone who claims to have arguments. I don't watch CNBC or TV at all. You think you get economic knowledge by watching the right news station? "haha" to you.
And what's with that gold dealer stuff all the time? You think Schiff couldn't buy US-stocks for his clients if he thought they were bullish? How that? His income would be exactly the same if he recommended GM stocks instead of gold.
Mnotaname 1 year ago
@ispeakthetruth2008 Vis-à-vis other fiat-currencies, the dollar may be doing comparatively well. But it is how the dollar is performing vis-à-vis commodities, which is the real test of how much purchasing power of commodities the dollar has. The dollar, ¥en or €uro, are not in an a position to buy more wheat, oil or copper, than they bought last week.
charlessmyth 1 year ago
@charlessmyth
You're missing the point. Schiff always tries to explain his way out of a corner. The dollar is kicking the Euro's tail. Schiff was wrong again. The euro may not be around in a few years. The dollar is going nowhere.
Schiff also claims the dollar rose because the US stock market declined. lol. That association is very loose at best. Schiff is just a salesman. He is a marketer. He is for sheep. Real experts dont waste time everyday pitching to broke unintelligent people.
ispeakthetruth2008 1 year ago
Peter Schiff does not deny that, as a businessman, he is a 'salesman and/or a marketer'. But, unlike the government and its financial services allies, he is not in a positon to compel you to act on his advice, the success of which is contingent upon the casino of the mixed market, since a free market does not exist, except to the extent that free market principles will always punish the errors of the mixed market, which you, and he and his clients must operate within, as best as possible.
charlessmyth 1 year ago
@ispeakthetruth2008 , well other than the fact that he mentions that all those other currencies are in trouble too. So you think the euro and the yen are in more trouble than the dollar, while Schiff thinks the dollar is in more trouble than the euro and the yen - but instead of just saying that you have to make some shit up. Remember Schiff is pro gold - which is proof positive he understands other currencies are in trouble too.
jedfa987 1 year ago
@jedfa987
of COURSE Schiff is pro-gold! He is a gold dealer you idiot! hahahahaha. Schiff is a gold hack. Gold has 0 true value. Once the gold bubble pops down the road you will see how anxious everyone is to sell it. And gold does not protect againist inflation. All Wall Street big guns know that. Sorry Charlie, you've been had.
ispeakthetruth2008 1 year ago
@ispeakthetruth2008
So is he a gold dealer or does he not mention that currencies are all fiat and just relative to each other?
Or is he the only person in the universe to both try and sell gold and not rant against currencies?
jedfa987 1 year ago
great stuff peter
CliveSinclairZX 1 year ago
@MrStephenRBrown Yes print more money.....
IWashMyOwnBrain 1 year ago
we are wasting our time arguing about this, our govt is corrupt and run by lobbyist (bribsters). why would they do anything that makes sense when it is more proftitable to waste all of our money.
SGDeGalvez 1 year ago
Watch out for the bed bugs.....
IWashMyOwnBrain 1 year ago
Hi Peter,
I am in Canada and would like to buy your father's books but on the donation page I cannot enter my canadian address. Is there someone I can contact or another website I can use to order his books?
Thank you!
Unkn0wnGuy 1 year ago
i ahvent been getting new Schiff vids in my subscription area.
ric0rich 1 year ago
5:10 magic thinking, just like the idea of "wise manager" of the economy - central planner.
grraadd 1 year ago