Peter Schiff Death Of The Dollar, Hyperinflation

[AutotuneSucksBalls]

I just read today that Mexico has stopped accepting dollars .....are you kidding me??? You won't be able to use U.S. Dollars in Mexico anymore.....this is not good, we are going down fellas, thanks to pointless war after war and the 4 trillion we owe China....something needs to be done fast !!!

[lilbromarky1]

@AutotuneSucksBalls I agree. I'm looking for a crisis to start rolling once the 2012 election is decided. After that, if you ask me, its time to batton down the hatches.

[edwardwills]

where is the video of him doing this radio show BUT Requiem for a Dream is playing in the background?

[jacobsczgmail]

History is repeating itself:Look at the Roman Empire:DESTROYED EVERYTHING.

[jacobsczgmail]

The hyperinflation was transferred fraudulously in Europe.But this will make things worst.

[jacobsczgmail]

The problems with the Euro cannot be healed, it was induced to save the dollar artificially.Just gives us time.New currency will come.THE NEW SOVIET UNION.

[MX3516]

The crisis in Europe has propped up the dollar for the time being. When and if the problems with the Euro are resolved, the next crisis will be the US dollar.

[nigelbruce232]

Schiff is an honorable man I believe...but he is far from being correct all the time.....there was no hyperinflation as he said there would be and there is none on the way....although the current inflation rate due to ethanol production has pushed the price of corn very high thus increasing food costs steadily.....but Schiff wasn't talking about that

[smoke489]

Good wake-up call.

[goldenthroat86]

News flash! No hyperinflation!

[UponInfinity]

@goldenthroat86 Wait a bit.

[fakemusicvideos]

OH MY GOD THE WORLD IS GOING TO END!!! HOLY SHIT!!!!! Oh wait, where was that hyperinflation? I guess I missed it. So did the inflation calculator.

[Blogengezer]

What is the future to the Yen as their nation suffers hundreds of billions of dollars of reconstruction? So many destructive forces attacking secular loving humanity, so little thought to the future. Be prepared, Be Prepared, Be Prepared

[alanccoop]

How can anyone compare the USA to Zimbabwe? Zimbabwe has no technology/ industrial base and people are poorly educated. Their will be no hyperinflation. It is naive to look at the debt/income of the US,then say the US is bankrupt because that ignores the value of technology & industrial base. If the $UD falls (say) 30% against other countries the US would sell cars/whitegoods/electronics to the rest of the world at the expense of China, Japan & Korea. The economy would become a powerhouse

[mauriciorodriguez67]

@alanccoop iis it not a problem of country, even in Germany (1922/23) the most civilized nation in

europe you can have hyperinflation as in Zimbabwe: the same monetary politics has the same results

[alanccoop]

@mauriciorodriguez67 . Germany had lost the war and was in turmoil . " Since striking workers were paid benefits by the state, much additional currency was printed fuelling a period of hyperinflation . The 1920's German inflation started when Germany had no goods with which to trade. The government printed money to deal with the crisis this allowed Germany to pay war loans and reparations with worthless marks.and helped formerly great industrialists to pay back their own loans" (Wikipedia)

[mauriciorodriguez67]

@alanccoop Only the future will says who's right but i'm not very optimistic because to much corruption

[mauriciorodriguez67]

@alanccoop see this youtube video : America Is Not Broke! Federal Reserve World Banksters Exposed, ILLUMINATI FREEMASONS

[alanccoop]

I've always followed Peter Schiff but.... USA is one of the most industrialised countries in the world and probably the most technologically advanced country as well:.If the $US falls 30% against other currencies the rest of the world will be buying Ford/Chrysler/GM cars instead of Toyota/Hyundai/Nissan, we will be buying Bendix/Westinghouse whitegoods and not Sanyo/Samsunge and we will buy Motorola/Pye instead of Nokia/LG.. The US would quickly become the powerhouse of the world once again

[MrAppleseed88]

I do not think the death of the dollar is a big deal. so what if we cant afford to fight wars fro israel any more. I dont give a fuck about israel. And I would love to bring all our jobs back home and put our people to work, and it would be great if these evil lazy minorities got the fuck out of the USA.

[xkrajisnikx1]

I was born in yugoslavia.. I now live in the States for 14 years... i saw this happen once... and now I'm gonna see it again

[jeryl1968]

interest rates are in the trash like he said at zero im making no money and i have alot invested no money at all bonds ? is that where its at ? im not so sure i do belive the economy is in a goverment self destruct mode its not getting better and its not going to get better ? the goverment knows this they have spent to much of american tax dollers and cover it up with excuses the goverment wants a world currency market they want all money to be the same money everywhere the doller isnt anything

[kubaniski]

"it is sheer BULLSHIT" YES!

[Skunny87]

@ Main1Event

The stocks he's talking about are foreign stocks. Nothing in the US and nothing that relies on the US.

[lamdawave]

Well all the nay-sayers have been talking about the collapse of the US $ since I started to read about US economy in 1970s!

May be these guys have been shorting US$?

Inflation is everywhere, not just in US. Part of the reason in the increase in demand for goods & services.

[rdy4happy]

So what do u do, no matter where you go countries are going bankrupt. Look

up for your redempton draws close. I'm not a citizen of this earth, my wealth is stored up in heaven where it won't lose its value...Jesus is the only answer to prevent the downfall of America, Repent & turn to God he will hear & heal our land.

[TheReallitycheck]

let them,...... the more they print the more my silver is going to be worth

[SGTbull07]

Truth teller. 5 Stars for Peter Alex Jones & Ron Paul.

[PresidentRich]

@steveo9001 Endgame, Freedom to Fascism, and Hyperinflation Nation are all better than Zeitgeist.

[EndtheFed14]

Can't stand the NWO. Crazy old white pricks.

[lucusrose]

Not just white anymore.

[manoman0]

The NWO does not care about colour, buddy. You're caught in a chase-your-own-tail-game and you don't even notice it.

[illuminatinewworld]

the nwo is more than just white ppl!!!!

[natureboyricflare]

@EndtheFed14 Dude it aint a race thing, it's a money thing.

[jaylindruffin66yahoo]

what the hell is this

[dxartist]

@jaylindruffin66yahoo

this is the reason why you will be broke, because you don't understand what the hell is going on

[tatomuck18]

you go broke from wasting money on useless crap! If you use your money wisely, you wont be broke!

[manoman0]

Don't worry. Everything is fine. Don't worry. There is no problem.

[jeryl1968]

@manoman0 is this obama ? come on barack ? it sure sounds like you lol lol lol

[acetylslicylsyra]

I promise to pay the bearer on demand TEN TRILLION DOLLARS for the Reserve Bank of Zimbabwe. I just bought one :) it is not without value yet ;)

[davidguywilson]

The U.S would launch a war before hyperinflation ever hit. Thanks!

[Infinitevoyager]

@davidguywilson they already did that, DIDN'T WORK!

[KingDrudge]

oh really? against who?

[jcscuba]

Dean0000000...You are truly a wind bag and add noting to this board.

[Dean0000007]

Another retarded view, ever heard of late trading? or back trading options? No regulation of markets is for 16 year old minds and utopia type thinking.

[willardopheus]

Peter is right. Short the US dollar for all it's worth!

Buy gold and silver and their stocks (for greater leverage) or perish!

[supreme600]

i don't think he meant to short the dollar, if there is hyperinflation those shorts will get creamed.

[nickfl1980]

We are in trouble because we forgot what the founding fathers once told us. Wealth is measured by producing, not by consuming.

[Scruffymyborder]

Buy gold and/or silver. A guy with a pocket full of silver dimes in Zimbabwe is rich!

[MiddletownDreamz]

crony capitalism that involves government favoring certain businesses is called socialism and fascism. Such a situation existed in Nazi Germany and Fascist Italy

[Dean0000007]

Socialism has nothing to do with bailouts. Socialism actually saved the economy with work programs, fascism it what bailouts are, free market capitalism and free reign in the too big to fail monopolies led us here.

[Dean0000007]

Dude, free market allows Chinese imports, it allows companies to move elsewhere where labour can be had for $1.50 a day and then the goods shipped back with little or no penalty, and it's not the government running the government it's corporation telling government what businesses to save. So lobbying is obviously an issue. Your free market may be regulated but if it doesn't allow trade to occur the way it was written up then the other country takes the US to the WTO for a ruling.

[karkelkhan]

With import tariffs or quota, you only put the bill at the consumer. A country looses way more wealth with import restrictions than it wins. Both importing and exporting countries gain wealth with free trade, and the industry of the importing country only gets a temporarily setback till they have invested into industry that that country has an advantage in. Just be open minded and check some video's on youtube that explain this kind of things.

[Dean0000007]

That's a big bunch of BS that is very short sighted. You don't look at labour or workers at all. I don't care if I have to pay a bit more to support one of my countrymen. Do you think that a country can be consumer and service based forever? You're crazy and again very short sighted.

[karkelkhan]

I think the same about what your saying. Don't be ignorant, try to accept the fact that government intervention is not the solution but the problem.

[Dean0000007]

That's what that retard Reagan said, he got the ball rolling. Now look at the US, what a mess. Business has really screwed everyone. Free market is way over rated and it may take a decade to clear everyones brainwashing on pure capitalism and it's huge faults.

[karkelkhan]

NO! USA hasn't had a free market for a long time, all that mess is related to government intervention there will be alot more mess if the universal healthcare thing is passed. I'm studying economics and I can tell you your deadwrong about this. Don't be so fking ignorant.

[Dean0000007]

Yeah, what a bunch of crap, economists disagree with each other all the time, so it isn't saying very much. It's because of no intervention that these crazy bankers took short term risk for a big bonus. If that isn't as capitalist as you can get I don't know what is. Even if the company failed they still have their golden parachute. Captilism fails! Communist China is as government intrusive as ever and they have been making gains by leaps and bounds. The US is almost bankrupt.

[karkelkhan]

I keep telling this, the whole "USA is bankrupt" issue is because of government intervention.

And China is still very very very poor in comparison too the USA.

[drow809]

troll

[Dean0000007]

You punk.

[drow809]

dont start a riot

[Dean0000007]

Won't be me, I'm comfortable in life. I'm worried about people that have been used and lied to by others. However the way you start conversations you may want to protect your face.

[InfoPoet]

"free markets" are just a pipe dream. There's no way to have a free market in the sense they like to talk about because that would require the government bend over to the market in all aspects and essentially render them nearly useless.

[SHMUJEW]

GRAB YOUR GUNS >>>> WERE DONE ! done !

[ddchalmers]

Wat a rant - but his stocks won't be worth much either once the economy collapses, uhh. Sure, no1 in Wash has opposed anything since 9/11 - but wat IS significant is that they will be in control watevr happens. The currency is suddenly worth nothing? Its not their problem - its YOUR problem, buddy!

They will continue on their merry way running the country come wat may. If it takes generals instead of economists, tats who they will use..... 1 banana republik/military dicktatorship coming up!

[MrShriganganagar]

This guy is a nut !

Government is doing exactly what it has planned years ago. Yes, dollar will drop and may there is desperate need for this---

Inflation is needed, and it is not going to be hyper as feared, not more than 5-7 %.

Don't get panicked. Make decisions with wisdom than panic. Even it is end of the world, we will die with smile on our face. That is the American way.

Are you smiling at me? all right he Indian way !

Happy now.

[RogueSwordThesco]

5-7%?

It's down more than 15% this year alone.

[UKSecretCourts]

Well Peter for telling people that hyperinflation is the enemy of the people.

Printing money was tried by the Weimar republic, by Japan and Zimbabwe.

It has a ZERO success rate.

[jessemac13]

I'm gonna be rich ........:)

[triumph951000]

man i made some great tax free untouchable income from listening to peter and economic advisors like him over the past ten years !! thats all the proof i need of this mans honesty and intelligence when speaking about the economy. what passes for economic news on television and cable is slime worse than goebbels ever was !! SCHIFF FOR SENATE 2010 hes got my vote

[letlistentochrisdodd]

Three powerful words: John Maynard Keynes.

[VegasRage]

Powerful indeed, "There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose."

He understood that and yet somehow came to the asinine conclusion gold was a barbarous relic of the past.

[mrzack888]

peter is again 2 years ahead of schedule. his timing is bad, too early.

[olh1152]

Maybe, but just see what happens in febuary 2010 when the tax cuts expire.

[Atom299]

This has got to be the first time I heard anybody say that deflation isn't necessarily a bad thing.

So far I haven't been able to understand what's so bad about it.

It seems to me that if prices fall people are going to buy more stuff (thus keeping the economy healthy).

This notion that people won't buy but wait till prices fall further sounds like nonsense. They don't know if things will be cheaper in the future.

They see something cheap they buy it.

[Dean0000007]

I agree with Peter Schiff's assessment, I however disagree with his policies on how to correct it. Corruption is the problem across the board, not capitalism or socialism.

[moybutter]

The bankers weren't corrupt. They were just GREEDY & made BAD decisions, so we should have let them fail! If interests weren't so low during Bush's tenure, the bankers would not have been able to speculate & cause the damage that they did. They damn sure would not have given out loans like candy if it was their own money at risk. Sound money & free markets work!

[Dean0000007]

I'm talking about legalized corruption, corporations lobby washington to make their activities legal. Same people that trumpet free markets are the same ones asking for deregulation, look at the mess deregulating the banks did. Free markets from China work???? Wow, no friggin way I'm buying into that crap. Short term consumer and retailer win, but the fallout will be huge when all the middle class jobs dry up very soon.

[JojahBoy]

Dean, do a search on google for: An Open Letter to My Friends on the Left.

This nonsense about the problems solely resting in deregulation is just that, nonsense. There are a TON of other components to the situation that you haven't considered apparently.

[Dean0000007]

I'm not saying it lays just on deregulation. It also lays on globalization, free trade, lax white collar penalties on crime, illegal immigration (and subsequent lax legal system toward corporations that hire them), laws that allow corporate lobbying. I could go on and on and on.... The largest capitalist nation on earth is corrupt through and through, and who is doing it? The people that benifitted the most from capitalism.

[JojahBoy]

Dean, again, what this country has is NOT capitalism. The marriage of corporation and state is known under another name called Fascism. We have been quasi fascist for decades. A truly free market works. In a truly free market these people would be bankrupt and/or going to JAIL.

[Dean0000007]

Completely agree with the fascist statement. Free market must be limited to its own borders where you have laws that protect workers is my point. The US can't compete with a chinese worker that makes a $1.50 a day. People need to wake up.

[moybutter]

There is nothing wrong with deregulation as long as corporations are willing to accept the risks. Capitalists will alway be greed but GREED IS balanced by the FEAR of losing money. We would have nevey had a housing bubble if the FED did not give the banks all those cheap dollars. If we had sound money none of this shit would have happened. Free Markets regulate themselves.

[Dean0000007]

There certainly is something wrong with deregulation when my company "forces" me to put my pension in the market and "forces" me to put it in some company to manage it. I don't give a crap if the company goes bankrupt so long as I get my money back. You see there's always a little curve ball where you think that free market solves everything and that everyone is treated fairly by free market and deregulation and failure when you deserve it, but it's not always that simple.

[karkelkhan]

In free market, you manage your own pension. How about that? These pension fund shit is backed by the government.

[Dean0000007]

In a free market with no regulation and no government involvement I'm supposed to tell my company what to do with my pension. What a farce and a big laugh. LOL Companies would have a field day with employees without government involvement or unions.

[jgbloyd]

Dean, that's only true if you're a lazy moron who wants others to take care of you. Employees and customers have the most power, if only they/you would wake up and start exercising that power. Otherwise, you're just another zombie taking up space and wasting resources.

[Dean0000007]

That's ridiculus, you want to live in a society of 300 million with survival of the fittest and a scramble for resources between poor and rich, you had better load up on ammo.

[KarasCyborg]

It got to this level because of govt 'regulation', rather than letting people stand on their own, they give out welfare to encourage bad behavior so that the carrying capacity of the land is greatly overextended. If they would have let things alone, let people and businesses bear their own load, then we wouldn't have this massive after-peak die-off that we are facing now.

[karkelkhan]

No lol, you manage your own pension, with no company doing it for you. You just make some more money, because the money that would go into a company pension fund, now gets paid to you, so you can make your own pension fund. Its much better, cause you have freedom in what you want to do with your pension.

[Dean0000007]

What if you made the mistake of investing in Lehman Brothers instead of Goldman Sachs, they both fraudulently report their numbers? Your pension is raped due to no fault of your own. I'd want my pension guaranteed by the government not private industry. The government however is now unstable because we've bailed out the extremely rich that knew what was going on and not the poor who had no idea what was going on and was no fault of their own. We live in a fascist state.

[karkelkhan]

Than that is your own mistake, don't make your problem someone else's problem. If you don't want to run any risk with your pension, you shouldn't go investing in stocks, but in like real estate, gold or obligations.

[Dean0000007]

It's my mistake that a big blue chip corporation has been engaged in fraudulent activities and misreporting the kind of risks they are making? Sorry you are wrong. The government has trained people to spot such things and prevent it. It's called regulation. The FBI said back in 2001 that 80% of the mortgage loans that were fraudulent were on the part of bankers, but got pulled off whitecollar crime after 911. Big mistake.

[KarasCyborg]

Regulation = Rigging. They should let things alone, and not use taxpayer money to prop up the too big to fails. When bank A sees bank B making a ton of money by breaking the rules and no consequences , what's bank A going to do, it's going to follow the leader. Especially when bank B fails and the govt bails them out, then you know damn well this will encourage even more bad behavior.

[Dean0000007]

No regulation = rigging you got it backwards, and yes they should be allowed to fail.

[KarasCyborg]

Hey Dean, do you honestly believe that gubberment regulation (rigging) is going to help out here? They cannot even balance their own budget and get their own house in order, how are they going to help businesses do they same? That's hipocracy. Now explain to me how when the gubberment comes in and tells farmers not to grow food how that's regulation and not price rigging? (They cut supply so demand goes higher so prices go up.) That's rigging through so-called regulation

[Dean0000007]

It's because of business lobbying and bailouts that the government is in debt. Lobbying should be outlawed and regulation should be the rule of the road.

[KarasCyborg]

In a free market with no government intervention, then the people who got ripped off would have a 'field day' with the people that ripped them off, and that would be the end of that. Sorta like riding people out of town on a 'rail' or tar and feather people. That was real effective!

[Dean0000007]

You and I both know that doesn't happen.

Free market is dieing. The party is almost over for people that want no change and to keep things the way they are. You know.... the top 1% of the population having more wealth than the bottom 95%. LOL Although you conservatives must just think that the bottom 95% are lazy. Free trade must be eliminated, globalization, heavy regulation on industry, strong unions, mandatory 55% domestic ownership on all companies.

[jgbloyd]

Take responsibility and control. Don't demand someone else to take care of you. You don't like your employer, get off your butt and find another or start your own business. Why must you use government to force business owners to suite your own greed?

[Dean0000007]

I am taking responsiblity. I make a very good wage thank you very much. No one takes care of me, I put in a hard days work. For you to start assuming is completely ignorant on your part. I'm worried about people that are payed below poverty level working to make someone else rich. It's the business owner that can be greedy. If a business can't survive by paying someone a descent living it should go bankrupt. Sweatshops and minimum wage slave labour should be outlawed.

[karkelkhan]

Whats even worse is that those poor people have even less money because they pay all those taxes and see very little of it back.

[Dean0000007]

Poor people? You mean the ones that are being screwed on their wages because business is hiring illegal immigrants to lower the wages? Or is it the shipping the high end salary jobs overseas? Trust me, if I had to choose between a $8/hr job and get taxed 15% or have a $25/hr job and get taxed 30%, I would take the 30% tax rate on my income. Doesn't matter how much common sense stuff I relay anyway, the economy is screwed with this type of thinking. We're screwed.

[sunnyjong1]

everyone know the future will be bad, but

i don't need to hear from peter like a broken record to know the economy will be bad, if you are not a fool, have you invest in gold,silver or foreign stocks like

peter been crying about? it not , stop calling people fool!

p,s, please type more next time to prove your point...

[sunnyjong1]

like i say, peter is crazy. if the country is

going down for sure like peter been talking about, why is he still running for the senate???!!! peter should run to china, because peter says the plan is

crash for sure. peter is trying to scare people into buy gold or silver or books from him. peter is saying things conflict to

each other all the time.

[MrMaveri]

Peter is running for senate to be a voice of reason among those that want to keep spending - that's why! The future is bad because America abused the world currency. Americans are going to have to learn to live within their means, like the rest of the world has done. Other currencies in the world are rising. If you listen closely to what peter said, he said 'foreign' stocks are a good buy, not just stocks. Commodities are good too which is why the Australian dollar and NZ dollar keeps rising.

[sunnyjong1]

peter is speculations again. how much

gold can average american to buy in order to save themself from future chaos? dollars need to go down so we can bring back jobs from oversea and help our exports. also devaluation of u,s, dollars will help us inflate the debts away against china.don't buy gold or and foreign stocks, because you are making those people richer who buy before you. for you people out there and been listen to peter, wake up! peter's making lots money by selling his books.

[MrMaveri]

Your argument that the dollar needs to go down to save jobs is short sighted. You can have a strong dollar and be competitive if you are a productive nation and producing real wealth. The US has abused the world currency and instead of being efficient America just printed money and now it's coming home to bite them. America is the worlds most consuming nation on earth - that's ok if they're producing more than they consume but they are not. Time to get productive and live within their means.

[smkuhner]

nice vid! five stars from me!

[Main1Event]

The only thing I partially disagree with Peter here is that stocks are a good investment. Stocks are paper, you get paid back in the US dollar. Yes, for now the market is going up while the dollar goes down. However, if confidence evaporates in the US, the market could collapse with the dollar. I even have to question commmodity stocks. You really dont own the commodity, you own paper.

[ExquisiteDoom]

You're right, there's a few things i think peter is avoiding to talk about and i think this is why he says stocks are better than the US dollar. He doesn't really mention how EVERY DAMN resource on EARTH is currently leveraged from 1x-100x times. which means HUGE amounts of resources don't exist in every damn department possible. Thanks to regulations and fiat money. Once reality kicks in , resources will be the only thing worth something. And only very few people will have them. Chaos to come.

[vitalious]

Correction, you own a part right to the earnings of the corporation who's equity you own.

So you do own the commodity, indirectly.