2/18/2009 Part 1/2 Peter Schiff On Kudlow & Co: How Now, DOW Jones

[rmccay88]

I have never understood Jerry Bowyer. He's one of these people who seems like he should understand economics but doesn't. He needs to go to Barnes and Noble asap and look for Schiff's book.

[sugmad72]

just some thoughts , I am buying both gold and silver , what else can we do

[Noisycowonline]

The government won't be there for you - they will be bankrupt. No blocks of cheese. No soup lines. Putting basic emergency measures in place is not very expensive or difficult. Invest in $1000 of canned food today. You can live off off $3 a day in canned, nasty beans, etc. No gourmet meals :( - just survival. Gold/silver is fine too, but they are hard to eat.

[sugmad72]

I would say that you could sell and convert to other currencies , but all the fiat currencies are potentially in the same boat , in what is becoming a global issue

[sugmad72]

I guess as the market worsens and gold and silver go up , you could sell off along the way and convert to usable things like food , supplies etc..

but as hyper inflation kicks in along the way you pay more for everything so it seems your profits are an illusion

[sugmad72]

if the collapse of the dollar or hyper inflation are the catalysts for a huge move upward of gold and silver

I'm not sure I understand how the precious metal investor really cashes in so to speak

at that point how do you sell your gold or silver , who would the buyer be

and why would you sell your gold or silver for worthless fiat paper at that point

yes you would have the gold or silver to trade for other goods or services in a barter scenario ,so thats good

[jsyn1230]

"we are a long way from the bottom"

peter schiff is right again. dow below 6600 now. prolly goin below 6000 before the end of april or maybe sooner

[Jakearoo14]

eh maybe not huh. hindsight is 20/20

[TruthLightSeeker]

I only listen to Peter Schiff, Gerald Celente, and Elaine Meinel-Supkis. All of the other "experts" are either clueless or they're liars. If these "experts" are so informed and intelligent, then how did they miss this catastrophy? Why were they denying we were in a recession, even though we've been in one since 12-2007? Peter Schiff is smart and calls it like it is...so does Gerald Celente and Elaine Meinel-Supkis, the only 3 I've foud.

[NewChristianSoldiers]

President Obama to announce Press Conference to SHOW HIS BIRTH CERTIFICATE to the American People!

watch?v=h_okpB6N-58

Obama, along with Senator Shelby, will also have 2 FBI document experts to make a statement to prove that his Birth Certificate his not a forgery and that he actually is a Natural Born Citizen and eligible to be President of the U.S.A..

Axelrod wants to put a stop to all of the newly filed lawsuits against Barack Obama over his citizenship issues. dow

[everEbody]

Does anybody know what thegas4free.blogspot,com is that Obama has been talking about?

[70road]

Larry thinks, loud means right, he needs to crawl back into a bottle! Peter is GOD!

[smb12321]

The funny thing is that Peter Schiff is only saying things that make common sense - be thrifty, save, do not force interest rates artifically low, cut deficits, etc. And of course, Schiff was absolutely right in the long run.

The trouble with the media is that most of the "journalists" (lol) get their economics from the NYT, Obama campaign & NPR.

Ya gotta love the guy who said "Wall Street" looked good - LOLOLOL

Today: DJI - 7100

[theruber]

All this bottom talk by paulsen and bowyer makes me giggle. This bear market will be especially cruel to their psyches and portfolios. When will they get religion ?

Other than sharp rallies, It's WAY too early for that kind of talk. Years.

[Justbeatit999]

God I love Peter Schiff! I just always go to financialtruth0.blogspot . com because they post all the latest videos there of JIM ROGERS, MARC FABER, PETER SCHIFF and RON PAUL! Thanks for uploading anyway!

[gruntman72]

What are you going to do when the government tells you to give gold back like they did in the 1930's?

I see revolution being your only way out.

[ZacC2012]

bluetickrunner....took the words right outta my mouth.

nice hair. douchebag.

[bluetickrunner]

that fat mouth hog jerryb boyer is a lying S.O.B look at that hog mouthed mother fucker this is the type of cock sucker that has encouraged people to invest in a hog market so he and his greedy hog buddies could suck up the peoples money and laugh at them and call them stupid assholes i hate assholes like him and there are alot of assholes in this game of ripping us off!

[CivitasUltraAporia]

Who the fuck is that Bowyer dude, a mother fucking columnist? Yeah, lets all listen to that douchebag

[kanarva]

Buy, buy, buy....

But, is there a tomorrow?

[malickfan]

schiff money bomb tomorrow!!

google it.

[matello18]

LOL

[rogulet666]

The value is in the hand of the beholder. And we no longer subscribe to speculation.

[therealcaptobvious]

if the Dow drops more than 43.11 points from last night's close, it creates a record low since it's climb in 1997. It's stayed lower than that all day.

[aelleo]

well give me yours then

uh no... im using it to buy gold

OWNED

[MirkoMMA]

"gimme yours"

"I'm using it to buy gold"

[IHateReligiousNuts]

I know pussy have purchasing power.If you have pussy then you won't have to worry.

[NeonKnight88]

All value is subjective. A diamond is extremely valuable to a woman even though she does not use it for anything. Food is not valuable to an anorexic because she does not understand that she needs it.

When people say a commodity has intrinsic value in this context they just mean that it has actual market value while paper money is just paper which is arbitrarily assigned a value by the government.

[nevous8]

Yep that's right... Love your first example... When I get married I'll bug her about that. *slap*

[Justbeatit999]

God I love Peter Schiff! I just always go to financialtruth0.blogspot . com because they post all the latest videos there of JIM ROGERS, MARC FABER, PETER SCHIFF and RON PAUL! Thanks for uploading anyway!

[edingsteve1]

Blond guy is a moron!

[tyronebiggums3]

Blond-haired guy = monkey

[totalfloat]

Please keep on interrupting PS. They pit you against contributors who think that because you cant buy food with gold that gold isnt real money.  Unless and until the govt prevents you from trading gold for dollars, today is a better day to buy gold and tomorrow is a better day to sell it. The stupid kudlow is once again allowed to spew his dollar has gone up crap and doesnt understand the difference between nominal and relative. Againkeep on interrupting PS.

[nemnaisa]

The problem with PS is that he does not allow others to express their views. Just stop interrupting and make yourself look like a childish fool. Be a bit more professional. PS may be right on the economy but he is not 100% right with this investment strategies. So he cannot say others are wrong when he is also so wrong on strategies.

[Questfortruth86]

He is, and has been the MOST right regarding investing strategies.

[nevous8]

No he hasn't, he's a good economics person but doesn't pick very good companies...

[NeonKnight88]

Its a long term investment strategy. If you are fixated on the short term, you do worse over the long run.

[MushroomCloud666]

Kudlow should really stop inviting total idiots to his show - this is getting really ridiculous. The guy saying that dollar is gaining value against cars and houses and therefore it's good to own it must seriously have IQ smaller than his shoe size...

[maunaowakea777]

Kudlow doesn't want to be shown as the total idiot that he is, that is why he invites fellow bone-heads on his show.

[ftorresgamez]

"The guy saying that dollar is gaining value against cars and houses and therefore it's good to own it must seriously have IQ smaller than his shoe size..." Totally correct. That guy is confusing purchasing power with falling demand (!) of certain goods (cars and houses). Compare the dollar with tomatoes, or shoes, and get back to me about it's

"purchasing power". Gold is a good baseline because it is LIMITED in quantity and cannot be inflated like fiat currencies.

[BrandonMYates]

Why is that, and what is that value?

Something's value does not come from within. Somethings value comes from it's supply and demand, or in other words its marginal utility.

I think it's funny that people are voting my comment down. They are to afraid to hear that their messiah Schiff may actually be wrong about some of the things he says

[NeonKnight88]

He doesnt mean a labor theory of value. Its just an economic term to describe commodity money and separate it from fiat currency. "Intrinsic value" means that a commodity can be used for something other than money, like gold can be used for jewelery and cigarettes can be used for smoking. Sit in on any economics class and they will use the exact same terminology (in fact that was the exact term that my Intermediate Macro professor used today).

[BrandonMYates]

NeonKnight is the only person that came even close to understanding what I am saying. The rest of you are just spitting back talking points about inflation and fiat currencies, which is completely unrelated to the point I am making.

In response to Neonknight, Maybe he didn't mean the labor theory of value, but the way he explained it sure suggests he believes in some sort of intrinsic value theory, instead of believing the Austrian/Classical subjective theory of value.

[KhomarBlog]

Perhaps it is because you are wrong. If the US government and the Federal Reserve were to disappear tomorrow, what would you do with your Federal Reserve Notes?

Gold has intrinsic value because of the metal itself -- not the denomination printed upon it. That is the key difference.

The question is how much do you trust the US government to pay its debts.

[BrandonMYates]

Schiff looks like a retard in this video

What is he a Marxist now, claiming gold has intrinsic value? Or does he believe the market only prices certain things...and the things he likes have value outside of a market transaction?

And claiming dollars have no value? Of course they have value...we use them everyday. Then he says "How do you know what we can buy with dollars tomorrow/?" Well Mr Schiff, HOW DO YOU KNOW WHAT WE CAN BUY WITH GOLD TOMORROW!!?

[prod689]

But your comment is very short term based... Peter Schiff is a buy and hold investor... His strategy is based on the long term. The dollar is losing value, rapidly. Our government keeps printing and borrowing, there is naturally only one way the value of the dollar goes...down...

[NicosMind]

Well if you study what happens to gold in recessions or economic downturns as they like to call them youll see a patern. But even if there wasnt one happening. Look at the amount of dollars the fed is constantly creating. Printing money is the definition of inflation. And normanly takes about a year to work its way thru the system. Its not economics 101 when it comes to printing money its economics for dummys. And more banks taking the failed japanese system of "quantitative easing" cont.

[NicosMind]

most currencys will lose their value compared with commodities and things that have REAL value. People stick their money into gold and silver cause theyre safe heavens. Steal and other commodities may be good investments also.

Youre comment sucks to anyone with even basic knowledge of how inflation is created! Sucks real bad lol.

[njcarlos1]

Because there is practical use for gold outside of a medium for trade. The USD, not really... maybe for a fire.

[BrandonMYates]

It doesn't matter if there is a practical use for it or not, that's irrelevant. Nothing has intrinsic value...unless you're a central planning marxist and. It just baffles me that Schiff would claim something has intrinsic value.

[KhomarBlog]

This concept just baffles me. Of course things have intrinsic value. It has nothing to do with governments or central planning -- they just have value. Wealth ultimately comes down to the ability to obtain water, food, clothing, and shelter. All of these things have intrinsic value, or do you deny this as well?

[BrandonMYates]

KhomarBlog: should really do research into theories of value and marginal utility, then maybe you wont be baffled by this concept anymore.

Nothing has intrinsic value. What good is something if no one wants it?

[KhomarBlog]

What Schiff is saying is that gold has inherent value and has for pretty much all of human history. Fiat currencies only have value because of the faith in the institutions that have created them.  Should that faith waver or fail, that fiat currency can become completely worthless -- or least only worth the paper it is printed on. Gold cannot lose value in this way, so therefore it is a more solid investment.

[Intervene]

LOL. "im using it to buy gold"

Peter Schiff is awesome.

[chaztikov]

"I buy food with it EVERY DAY!!!"

"Well how do you know what you can buy with it tomorrow??"

Ahh he's the best! Jeeze its almost like reading a ridiculous comic.

And no matter how you try to cut it, Gold is (at present) because noone can print it in endless quantities! No matter what uses it has, its rare!

[Budvb]

And Gold is Environmentally safe as well! =)

[justgetsome]

I love youtube i can skip through the idiots and just listen to Peter.

[elbuggo]

Thank you PhilDeCarolis

[BlueEagle8]

Great suggestion!

1) Shotgun - Remington or Mossberg

2) Handgun - Glock 17 or 21SF

3) Rife - Remington 700

[Xasew]

"I'm using it to buy gold!"

I laughed.

[1lain]

Maybe, perhaps, who knows? There's a lot of uncertainty in the current market. In regards to a buy and hold long-term strategy, the convential wisdom and advice is to buy stocks in a down market such as this one. However this market is never coming back (ever) in any meaningful or big way in the future. What we are entering into is a permanent state of poverty that the majority will experience. Millionairs will lose their millions and the middle-class will join the ranks of the poor.

[TruthFN]

I agree.

[RepublikaTwo]

Buy things that none wants. If we go to that you'll need a ant chemical and radioactive suits.

[proguru2]

I've been stocking up on gold, food, and consumable supplies (toilet paper, soap, shaving cream, etc). I've never bought a gun in my life, would like to buy one, but I have no idea where to start. Any suggestions on how to go about buying one (where to go, what kind of gun, what model, any useful web sites, etc)?

[julebuggy]

saiga-12 shotgun. AK action, semi-auto, highly reliable.

An AK-47 would also be good if you live in a rural area.

[b1muas22]

a gun is a gun. Buy a few - shotgun, pistols, and a high powered riffle. And lots of ammo...

[JackNeedles]

Lmao. "I'm using it to buy gold." That was hilarious, what Peter said. He's awesome. TODAY, the USD will buy things, NOT down the road. The whole T-market is one huge speculative bubble waiting to burst. The holders who control it are looking to sell, NOT hold. They're looking for massive profits, before the boat sinks, much like the property flippers, before the housing bubble bursted.

[Airbandit5427]

You need to do more of your videos man, good stuff!!!!!

[norfair18]

Speaking of ammo, by june the government will require coding on each piece of ammo sold. Buy ammo and guns right now before obama takes them!!

[formulaprimer]

Just bought a shot gun, ammo, metal detector, gold and silver, whiskey, cigarettes, and food and first aid kit. Also books on canning food. Any other suggestions?

[lives2live]

land, if you can afford it. Or go in on a chunk with friends. Outside city limits, so there wont be laws about firing a gun. It will give you a place to plant and hunt if it comes to that.

[biernot12345]

Först!

[Leonin88]

Guns, ammo, precious metals, food, alcohol, stock up!

[labartic]

First.