Peter Schiff in the Saudi conference part 1/7

[DaGuyWitTarAnFeathrs]

Schiff for Treasury Secretary! Jesse Ventura for Secretary of Defence... Alex Jones for VP... and Ron Paul for President 2012!!! then MAYBE this country would get back toward the right path...

[johndillinger1932]

@DaGuyWitTarAnFeathrs Alex Jones is a Jesuit

[RapidMediaGR]

STOP MOVING THE CAMERA!

[RNTcomeback]

"...depending on how much damage the incoming Obama administration does..."

if you only knew then, eh Peter! hahahahaha

[1XMarksSpot]

Ron Paul 2012

He has never voted to raise taxes.

He has never voted for an unbalanced budget.

He has never voted for a federal restriction on gun ownership.

He has never voted to raise congressional pay.

He has never voted to increase the power of the executive branch.

He voted against the Patriot Act.

He voted against the Iraq War.

He returns a portion of his annual congressional office budget to the U.S. Treasury every year.

[beavis408]

@dbizzttle909

Probably another reoccuring Schiff thought: "please tell me you guys have something more than this. THESE are the arguments I have to refute? I almost feel sorry for them..." 

[surfer53]

Anyone have a come back for my friends here in Canada who argue that deregulation caused the economic recession? I'm tired of using the same arguments and being name-called.

[syghur]

@surfer53 What is their reasoning for that argument? Just saying it doesn't make it true.

[p1b1harper]

@surfer53 it didnt help...but the real reason was 0 interest rates...and something called a moral hazard...so the real reason was... cheap money and the assurance that if banks made risky loans and didnt get paid back the gov. would bail them out...if they had removed the gov. backing and kept interest rates high along with the deregulation it wouldnt have happened

[frogman92981]

@surfer53 just utube schiff, hayek or sowell their arguments easily refute libtard idiocy.

[rsdouglass4]

He is exceptional.

[crutmauler]

The audio on this sucks!

[lsdownz]

Ugh audio quality is awful. I can't listen to this.

Please repost.

[TheBlitz1]

ah man

peter schiff is so cool man

wish more people would notice him

[alistairproductions]

lol Schiff is bored while that dude talks

[aviomaster]

Peter Shiff's idea would work much much better ... What USA has left is making threats and creating terrorists and pretending to be world saviour , that is what they have left ,... and everyone see what they are up to.

[HandyMan101]

@mongeonkevin correction

your full of shit.



[RamessesR]

Federal Re$erve=Bernie Madoff on steriods/crack/hulk juice.............

[AmericaTops]

Peter Schiff for President! LET THE MARKET FUNCTION - when left FREE, it is SELF-REGULATING! It would have PREVENTED such artificial highs, then such low lows! It just wouldn't happen! Go Peter! You're amazing...

[mensendike]

shittt!! i accidentally gave you a thumbs down

fuck

[IranUnderground]

schiff fans need to write to their favorite news network. I just e-mailed CNBC and told them I want more peter schiff on the air@AmericaTops

[standinginnothing]

@AmericaTops Peter Schiff is great as an economist, but does he know anything about politics. Ron Paul is both a polotician and someone who understands Austrian Economics

[TheReapersSon]

@standinginnothing

Schiff actually has a lot of understanding about Austrian Economics as well. That's some of the basis of his research and analysis. Also, he was elected Ron Paul's economic advisor in 2008, so he's worked in politics before.

[DANTHETUBEMAN]

THE GOVERNMENT IS CREATING THE ECONOMIC ENVIERMENT. we are in hard time's becaus the government would rather barrow money from comunist china to spend on ilieagal war's that have to account for the money thay would have to get otherwise.

[rast123456789]

Hahaha I love the close up of peter caressing his sock

[3SuperPeters4]

cra p

[psion128]

When was this conference?

[superdiza]

10 February 2009

[timesplitters333]

was it now? so he visited Saudi arabia 2 times?

[superdiza]

If by "now" you mean 10.2.2010 then no, that was 11 days ago.

[sunnyjong1]

is peter schiff going crazy???!!! he is not

representing u,s, government nor anybody but himself. he is telling the saudi how much worse the u,s, economy

wiil be a few years ahead!???? we owe

chinese, japanese, saudi and russian lots of money. is like your are telling your

landlord you don't have next month rent.

what the f*ck is peter thinking. can anybody explain to me please>>>?

[TheMetalPerson]

he wants them to stop lending to us. He's said this directly.

[TheMetalPerson]

And move back into their parents house, using your analogy. They don't have the money so they can't possibly keep living in their apartment without ruining themselves financially.

Maybe if the landlord evicted us, we'd be able to recover at our parents until we can pay our credit card bills.

[SKUNKBALLScom]

that's how you stop the problem.. it will be painful but it has to happen.

[MrRiceowlex]

EXACTLY !!!!!

[goodstuffification]

no explanation necessary, you are a complete idiot, keep playing call of doodie 11

[NOTAdemocracy]

Reality and Honesty is all that I can come up with...

[Sivels]

It is probably in the best interest of America for him to advocate that the world stop this phony America, don't you think, unless you think the US economy is good as it is..

[HereticNix]

dude that ankle stroke is hilarious! cudos cameraman!

[TeacherScience]

Does it bother anyone that he is at a Saudi conference, telling them that our economy is going to collapse? And then telling them how to speed up the process?

[jct181]

Not really. He's been trying to tell us for years but we didn't listen.

[sniffsnarff]

they watch our cable news channels too. So, it's likely that this audience has seen Schiff and other American economists/talking-heads before.

[calman318]

Need to stop adjusting the camera ! So distracting

[ik999]

he can't hear you

[liverpool80000seater]

2 blokes in suits after advancement

[Ilovedachau]

He seems to be more of an american nationalist and a secular jew. The interest of America is having peace with the arab states, not making war over an artificial country like "Israel".

[NookulerFreedom]

Shocking video that the American government DOES NOT WANT YOU TO SEE!

watch?v=QXEZSTQwGh8

Support Peter Schiff!

[flipmode333]

Schiff is great

[MsTruestory]

ok

wow

[gblargg]

Note to camera operators: as viewers, we'd prefer that you choose ONE angle and LEAVE IT ALONE, rather than constantly messing with it. The main problem with this is the echoing sound, but you can't do much about that.

[UndergroundAmericans]

if you poor enough gas on a fire, it WILL go out

[Hairylegs25]

Schiff is too funny. He's so unguarded and honest, even in his mannerisms.

Peter Schiff is the real deal. Peter Schiff for Senate in 2010!

[SteveXnycperformance]

We don`t need any more banker to ruin the u.s. constitution .Hang peter in 2010 "the banker serpent" ...Peter is a fuck globalism,,fucking england banker puppet... NUKE ENGLAND..and the Jews and Islam can share the QUEENS land.

[Ilovedachau]

what the world needs is anti-globalism, you imbecile.

[ronpaul101789]

What do you mean by "needs"?

[Ilovedachau]

I mean that each nation has its own destiny, some bolshevik styled internationalist organisations like the UN suck, where they impose the same standards on the whole world.

[ronpaul101789]

No, the world NEEDS globalism. God damn you hippes are retarded!

[rocktheflow]

lol... I'd love to see you test that theory ;)

I assume you've never seen a tanker blow up.

[entershift1]

Dont worry about choosing sides; your information has already been collected by Google the owner of Youtube. Their tracking the videos you watch and the keywords in your comments. You may be on the evil side and not even know it. These times remain me of the movie The Termination; we created the system now its turning on us. The A group sounds good but is it?

[Mediterraneanblue9]

the film industry is owned by the government

[slbiggs36]

How so?

[zeezrom]

Better yet It would work better if the people were divided according to what they stand for. For example the basic criteria could be for group A: No Federal Reserve, No Taxes, Free Market, etc and group Z:against what group A wants. The list would be Public so we know where each of us stands. We need to know where we stand so everyone will know where and with who they belong and can trust. I cannot trust anyone in group Z. What list do you belong on?

[zeezrom]

Fascist Public Servants are destroying our Constitution and Economy, crippling any recovery of confidence in our government which will lead to the destruction of America. Remember that our government itself is not a Human Being, but it is our servants that are destroying us. An Accountability List is in order. It is time for Americans to Choose Sides. The Great Divide. What shall we call each Side? Good and Evil?

[entershift1]

Peter Schiff, The Economic Terrorist, his emit an intense, overpowering fear to other countries about the United States. He is using intimidation of collapse of the US economy to achieve results. He may be right but businesses would not tell their competitors they are selling poor quality. This is what makes him an American Terrorist. Foreign countries already know the United States is in trouble. Why would an American citizen encourage the down fall of his own country to foreign countries? Why?

[timesplitters333]

yea keep fighting for the government Stalin lover:))

[UndergroundAmericans]

Peter is doing the right thing, obama and bush are the economic terrorists.

peter is like paul,

Paul Revere!

[radpipe]

Audio is terrible.

If you've been watching Schiff's videos, this is all a rehash of stuff he's been saying all along.

[pinup22]

Sure glad i snagged some bullion from Scottsdale Silver !

[strasheep]

whats he doing to his ankle? is he getting turned on?

[musiccalgary]

Unlistenable audio.

[Jfkennedy62]

Shorts are hitting this stock hard, should you be shorting it too?

Sirius XM Radio Inc. symbol SIRI is trading at 0.31 this stock is going down. It could be a good idea to shot this stock. Because it will NEVER, NEVER go up again.

[eldiezmaradona]

peter shiff is the man! peter for president in 2010! michael maloney for vice president! power back to the people!

[dave997]

this audio is fucking horrible

[EvilResult]

his finger was thinking

[monetarydemise]

what the fuck is he doing with his hand at the beginning?

[anyuser19]

Irwin Schiff has been protesting the Income Tax laws for over 30 years. He is not a tax cheat who got caught. He told the IRS he wasn't paying and told them why. He was and is willing to be jailed for his beliefs. Suggesting that Peter advocates what he does as a ruse to free his father is preposterous. They are both libertarians and acting in accordance with those beliefs.

[gendna2]

I bet most here don't know that his father is spending hard time in jail for refusing to pay income tax. Just food for thought on why PS probably dislikes the federal government; not saying it's wrong but just putting it there. Me... the federales are becoming the enemy with each passing president.

[mosullivan511]

I am sincerely surprised of how many people get offended when anyone questions an adviser track record. PS has done a lot of good the last several years but the "know it all" arrogance got in his way last year. Markets can stay away from fundamentals for YEARS and people have finite lifespans. Be very careful of following anyone BLINDLY. markets have the ability to change and no one knows exactly when. That's the point

[rocktheflow]

that's not entirely true - you can have a good educated guess. Believe you me, someone always knows when a market will change if they're the ones controlling it ;)

[mosullivan511]

Why are you defensive? Don't be a coward? C'mon...I am referencing facts..I used to like PS until I realized his #1 goal is self-promo...instead of him adjusting his strategy to be more realistic, he would rather save face and trash the US. Dude, I am not tying myself to ONE investment philosophy like Schiff. An advisor has to observe and be willing to make changes to their strategy.Schiff is not,..just google Mishs article on this guy..full of facts.

[myyootube]

Who was, is and continues to be right - You, Mish or Peter Schiif? No expalnation needed, simply choose one of the three.

[mosullivan511]

You don't get the point. PS has is right on the economy and simply has his clients positioned inappropriately for the crash last year (that is old news) Mish's managed accounts were up (public record as he is an RIA) and sells a managed acct. So, if you are a follower and don't look at real results, than good for you,.

[myyootube]

No, I dont think you get the point. I simply posed a question. I did not want a response. The question was for you to answer to your self. I dont know why people like you feel the need to try and prove a point to to an unknown person.

[mosullivan511]

There isn't a need for a question..and this isn't my or Mish's theory. PS is probably one of the best and explaining the Austrian economy but the FACT is that he was poorly positioned in 08 for the historical crash. That's simply a fact and not my answer but you laid it out there as if there was some need to debate it. And its not "my point" Money managers are typically evaluated annually (not a theory I created) so there is no "need" to prove a point...

[myyootube]

What do you mean "he" was poorly positioned? PS is not an RIA and manages NO accounts, he is simply a broker. If one clients statement is leaked, of perhaps thousands of clients and that client possibly traded at his own discretion and that client was only with PS for a couple of years, who is to blame? I would bet many of PS's clients are very happy. Perhaps the leaked account statements of PS belonged to Art Laffer. And unless it was YOUR account, YOU can claim nothing as FACT.

[mosullivan511]

This is very old news and you don't understand  the fact that I am giving him full credit for doing a good job calling the economy. But his advice (in his own words left clients stranded) He was calling for hyperinflation and decoupling in 08 and telling clients to go into Euro and Asian equities as OPPOSED to US;they fell worse than the US markets. Do you understand that fact?Google "Mish Peter Schiff was wrong" There are literally dozens of factual references with PS in his own words,oldnews

[Xasew]

Except that Peter always says that he doesn't know when these things are going to happen, he just knows that at some point in a not-so-distant future, they will.

His clients aren't leveraged, he advised his clients to keep some dry powder in case foreign markets went down with us markets(something he said was a possibility) and he doesn't trade the accounts, he just buys and holds. So how are any of his clients "stranded"?

If his clients are still down in 2010, then maybe you'll have a point.

[mosullivan511]

If you are comfortable with his ignoring the ramifications of deleveraging and the unwinding of the carry trades last year and the rigid Buy and hold foreign stocks, foreign currencies, and commodities, come hell or high water, and hold on to them." with 0 stop losses,you should be just fine. He needs to learn the market doesn't care about and doesn't respond to his thesis and that money managers should respond versus hold at all costs.

[mosullivan511]

Furthermore, Schiff made no allowances for being wrong and had no exit strategy whatsoever. What happened in 2008 was that foreign equities sold off much harder than US equities, and a strengthening US dollar compounded the situation  Schiff failed where it matters most...give me a factual rebuttal besides "hold your breathe"

[wreagfe]

The factual rebuttal is in thoeiy, not in empirics (yet). Empirics don't falsify theory when the core of the theory hasn't yet happened in reality.

Accidentals don't falsify fundamentals. The fundamental is that massive inflation is coming but is still hovering like Damocles' Sword above our heads.

[mosullivan511]

wreagfe, the "fact" is no one "knows" what happens when when speaking in the future. Currently, debt and asset classes being destroyed faster than monetary creation (deflationary) that could last for years. COULD is the operative word. When one is down 70% its pretty factual...again an adviser "Married" to any theory (eg.decoupling or inflation is a given) is tying their hands when there is no need to. IF/when inflation arrives, one would simply need to adapt. adapt or get left behind

[wreagfe]

My point is that the theory Peter Schiff is adhering to isn't falsified by reality. The question is not IF but WHEN, but that's for the furture to 'decide' because those will be accidentals. The fundamentals are that there IS massive inflation of the money supply, that's an economic fact. Whether Schiff has the right investment strategy for his Austrian theory, the future will tell. But it's certainly not the case that his theory and strategy are currently falsified in any way.

[mosullivan511]

The economic fact is that debt/credit is being destroyed FASTER than its being created. What do you think the fed is "printing" is called debt. #1 Asian and EURO markets ARE down more than US #2 that Debt is being destroyed faster than Fed is creating...sure we'll get inflation one day...PS speaks as thought his theories are factual... I don't see your point..so what when inflation becomes the story after debt destruction happens, ADJUST. its not that hard

[mosullivan511]

Mopar, this for you. When you are done worshiping PS tell me how this advice is playing out

Schiff's Overall Thesis * US Equity Markets Will Crash. * US Dollar Will Go To Zero (Hyperinflation). * Decoupling (The rest of the world would be immune to a US slowdown.

 * Buy foreign equities and commodities and hold them with no exit strategy.

[mosullivan511]

Mopac, WE ALL KNOW HOUSING COLLAPSED. "may have lost something"??? his general advice is down 70% which was getting out of Dollars and buying EURO and China markets. You are like a Parot saying "it hasn't shown it's face" See how long 70% takes to make up at 7% per year. Like I said, Go back to sleep...

[mosullivan511]

yea of course some of his calls on the general economy and housing were right ...and I am in preference of a gold standard...but his refusal to admit his mistakes and obnoxious self-promotion makes him no different than those he ruthlessly and constantly criticizes.

[MopacMurtaza]

Bullshit, thats like saying, your right but your not right!

Your just a fucking hater, listen to the message, that is all that matters.

[mosullivan511]

Mopac? Can you post some facts to refute what I said? Let me break it down for you. PS was right that the housing market would collapse. His investment theme for positioning (buying non US stocks) to "avoid the collapse" was wrong. That's not "hating" but a fact. There have been articles to prove this..Just go back to sleep now

[MopacMurtaza]

HHAHAH!

This u call facts?

Remember when the tv heads screamed at Peter saying the housing market will rise, Peter said give it time!!! It will collapse AND IT DID!

The collapse has not shown its entire face, short term, he may have lost something, but if thats what you look at, then your dumb, cause Peter looks at shit smart like a chessplayer, by planning shit longterm!

Give it time.

My God they killed Jesus, for speaking out, and when he died they found him dont say Peter will be the same.

[mosullivan511]

Another Schiff Myth...from his book..Yea, I know Mopar..its going to happen...Blue yet?

"I'm rather fond of the word decoupling, in fact, because it fits two of my favorite analogies. The first is that America is no longer the engine of economic growth but the caboose. [The second] When China divorces us, the Chinese will keep 100% of their property and their factories, use their products themselves, and enjoy a dramatically improved lifestyle."

[MopacMurtaza]

Exactly its going to happend, just like when he predicted the bursting of the housing market.

Give it time, and when it finally does happend, dont be a fucking coward like most people who debate Peter Schiff, and then later on find out he was right, and pussy out.

Your word right now stands, and im gonna pull your cards on it, in 5 years, if i still have an YT account by then. Or rather if you can still afford to have one by then cause the dollar will collapse soon.

[Turnedleaf]

Actually pretty much every other currency and stock market is, at this moment showing alot higher gains than if you had american stock or currency. I dont need some bs article to prove this look at the 52 week highs and lows right now.... Just go back to sleep now

[abdighazi]

so the saudis r gonna let us devalue their dollar position willy nilly, even tho they own fox news (news corp), obama, and bushs-clinton? not to mention all the other wealthy people who own dollar assets, theyre just gonna get poorer in order to help the little people through a devauluation of their debt? is that what schiff of saudi expects?

[mosullivan511]

PS #1 concern is self--promotion and he has A schtik...and ideology...SA isn't going to send back dollars bc US is #1 customer and would collapse their market. But Schiff will lead you to believe its just that easy...why? Self-promotion.

[GunnySgtHartman]

I hope the Saudis didn't get ofended because Peter exposed the bottom of this show. That is considered disrespectful in Muslims countries.

[baysar]

Ya well I'm sure they understand that he wouldn't that on purpose.... now if he was muslim.. thatd be a different story..

[VinceP1974]

It's ironic he's making these comments in Saudi Arabia, which is probably a bigger leach of a country than the USA

[ohio1998]

How so?

[VinceP1974]

The locals dont work , they import all of (slave) labor. So use thier oil money to leach off the labor and advancement of others.

[ohio1998]

Are you sure?  I've never been there.

[VinceP1974]

*Vomit* at Obama ass-kissing at the beginning

[ohio1998]

I love ankle rubs too!

[thereallurker]

Schiff is trying to tank the US because the government put his dad in jail for running a ponzi scheme.

[kentafication]

Source?

[CheekyMonkey888]

His dad is a super patriot that's been fighting the government , look into your facts.

[hummarstra]

wrong schiff. Google Peter, read on Wiki about his dad, a different Schiff than you refer.

[ceaseyoxoogurl]

wiki is not pure facts yet opinions that random ppl can put up at any time, check where wiki got their facts

[Finnbar01]

So Peter is too be blamed for the actions of his father, who incidentally comes across as some sort of a rebel if you ask me. Peter Schiff is telling the truth and both Bush and now Obama havd ignored him to the determental of the USA.

[hummarstra]

I thought this might happen. When I wrote "wrong Schiff" I was referring to therealurker's post. Schiff'f father is Edwin Schiff who fought the US Government over income taxes and is now in jail.

[Finnbar01]

Apologies for that. I ddin't realise you were commenting on another post. BTW, our own Irish government has set up a loans plan where the government guarantees mortgage loans. They haven't learn a thing about freddie or fannie.

[ceaseyoxoogurl]

lmao i hope u being sarcastic...if not, i hope u wake up soon enough

[ohio1998]

Ya, one guy can tank a 15 trillion dollar economy. Great thinking!

[santsuma]

Thans for uploading this. Always interesting to hear Peter Schiff.

[DONOVANDANNA]

What's up with the cameraman's infatuation with Peter's ankle?!? (1:07 - 1:35)

[Russo017]

thanks for the upload

[hermbilliamherm18]

thanks for the post!

[sderenzi]

So cool!!!!!

[Dedhedted71]

It seems to me that Peter has a unique way of looking at the big picture. Other investors always seem to be hopelessly locked into a short term mentality. No insight or understanding of Americas economic history. So many investors can't let go of this failed system. Its all they know or understand. Peter understands the history of things & approaches investing accordingly.

[wait887]

what you described is the problem in our society right now. Everyone wants everything right now. No one wants to save or be patient with anything. I don't see why that wouldn't include issues of finance.

[coldplayismagic]

I like Schiff, but , look at his body, he has his legg crossed in an almost nonchalant way. haha either hes gettingreally good as telling the same story, or he kinddda seems cocky... this is the first time ive seen him like this...what u guys think?

[MopacMurtaza]

What the fuck is wrong with you?

He is sitting like a humanbeing, as

and that aint that importan either, LISTEN to the message instead!!!!!!

[wait887]

That's one way to look at it. Another way to look at it is that he went on tv and warned us and no one believed him. So he had to take a defensive position. Now people are begging him to give speeches and give advice. So there's less pressure on him.

[coldplayismagic]

cool, thanks wait887. lol mopacmurtaza, you really failed in the art of conversation. take a chill pill bud.

[hummarstra]

DAMN, i was hoping somebody would upload this. AWESOME! Thanks a million!

[TruthFN]

That zoom in on Peter's ankle is creepy I gotta say, good video. I sounds like an echodome in there, anyone in the crowd?

[edmack4me]

ok Whose gay?