If I discover a bunch of gold in my backyard, mine enough for 1000 gold coins, I'm suddenly rich??? I didn't create anything but "money" plus some intrinsic value. So the people who currently control the gold mines in Africa are essentially the "central bankers" of precious metals who are "mining money" for the most part.
It s not about being rich it s about protecting the value of what you own.
Your silver or gold will retain it s value over a long period of time.
Those who sell gold or silver I agree are the ones who make the big bucks. But these advices from Peter Schiff are very sound. Check out Marc Faber, Jim Rogers, Ron Paul, David Mcalvany and many more. It s the same song .....
@alex630710 you should watch the latest Zeitgeist film, Moving Forward, to get a better perspective regarding Capitialism. It has over 3 million views.
Peter probably a kid that wasnt that popular at school nerdy not much to look (i am not gay) but grew in to a cult hero what a legend and people say that a lot of people were predicting the crash in 06-07 this guy was shouting about it in 02
Home values have fallen 26 percent since their peak in June 2006, worse than the 25.9-percent decline seen during the Depression years between 1928 and 1933, Zillow reported.
This was made before Bear Stearns collapsed, almost 3 years now and nothing changed. They even more determined to ignore the mistakes, they'll never admit to being wrong ever
American's (all parties) are financially ignorant and this is why they are getting what they are getting. The recently election just highlights this. For instance, I doubt that more than a few Tea Party'ers realize that their libertarian ideals (fomulated by Ayn Rand, Ronald Reagan, Ron Paul, Greenspan) were exactly what got them into this mess. Voters are upset it can't be fixed in only 2 years.
This causes the pressure for things like QE2 to be tried... it's is only going to make it worse.
Obitchyouwary couldn't out-dive two more experienced Bush-pilots when Joe Plumber was on Debate III with an IQ of TWO for a half-hour, so Granny Maddie told Bam he was Kenyan, she died, and that's all I have to say about THAT. Shoulda dumped, but he gumped past Cosby and Bel Air, which tell him to STAY HOME, and leave Star Trek to the conventioneers, but NO! We wait for Disney to roll over and invent a new cartoon, for Mr.President. Planes, copters, and cars roll over, in 2011. Got volcanoes?
Given that he was talking about hyperinflation and were are in hyperDEflation. Also the world has realized if the USA goes down the tubes the rest of the world will go down with us.
I just love all the chicken littles of the world. How's your gold doing? Still on the way to $5,000/oz.? I can sell you a sweet bunker if you want one too.
I wish this guy was obamas economic advisor, but that would mean obama would have to care about america and american business, and we all know he dosent
The only reason to own gold and silver isnt because of inflation. Gold does terrible during inflation. Since the 1700's it only rose in one inflationary period, the 1970's, and quickly collapsed. Gold and silver is only good for one thing, to insure yourself against all fiat currencies collapsing. Hoarding metals is retarted. Your better off in real estate at these levels. The gold hoarders never win out. They are always fighting last decades battle.
Jefferson and Hamilton authored the Coinage Act of 1792: In this Act of Congress the word "dollar" was defined by statistical assay of the Spanish Milled Dollar in circulation to contain 371.25 grains of silver. If you take a paper FRN and demand your 371.25 gr. of Ag (i.e. a silver dollar ) the banksters will just laugh you out the door... they'll stop laughing when we arrest them and try them for treason and counterfeiting. Git yer pitchforks boys. (480 grains = 1 troy oz)
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You people dont get it. There will be no hyperinflation. The fed can print 2 trillion, but if 2 trillion vanishes from real estate assets, and world stock wealth, there is no addition to the money supply. Most ameteurs just dont get this point. We already had inflation from 2000 to 2008. Its over now. Most people thought they had hundreds of thousands in net worth and now they realize they are underwater and going bankrupt. This isnt inflationary.
Value is value. The question should be whether "deflation" is actually BAD, if prices are going down with everything else, or not.
The typical argument against both deflation or inflation tends to include the word "distortion."
If people can make an educated guess about what's going to happen in the future, they'll make decisions that will, generally, be to the benefit of the overall economy.
Unpredictable economic distortions due to government intervention make educated guesses impossible.
In that same 2002 interview he also made some predictions that were dead wrong. I'm a Schiff fan, but he's been wrong a lot, too. I don't remember the exact numbers, but he predicted the Dow would continue to plunge below the 2002 low and it never did. He's currently predicting the oil will go back to 150, but there are no signs of strength in the oil market now. That'll be YEARS away.
As of last week OPEC is refusing to increase production to meet summer demands. Oil has risen to over $65 a barrel nearly double the $35 it was in late march. All the smoke and mirrors this admin is trying to pump that the economy is getting better is just that. SMOKE and Mirrors. They claim to have created or saved just over 150 thousand jobs yet fail to inform us that they have created 80,000+ govt jobs not private sector Govt employs over 2.5 million people. Largest employer in the world.
@ok1jwc Just stick to econ...I am a sports fan and also an Austrian believer. Did a sports fan beat you up as a child? Also, what's wrong with American Idol? It's a TV show...watch it or don't watch it, either way it really has nothing to do with this video. You took a good point and expressed it very poorly.
@justintroutmusic LOL sorry really I had a few too many brews that night! I dont hate the sports fans OR the AI watchers in truth just the ones who are so zombiefied that they do not see at all what is happening to their nation. The ones who dedicate their lives to these distractions, what was referred to as "bread and circuses" for the roman empire. THESE are the sheeple I meant.
Peter Schiff was right. Watch the clips from 06/07 when the talking heads would laugh at his predictions. Bet they're not laughing now.
Bernanke announcing the Fed will print $1 trillion dollars out of nothing to purchase treasury securities is the final nail in the coffin of the dollar. Buy gold.
If they had imposed taxes on exporting of jobs we would not likely be in this mess.
In other words we'd still have Americans with money to save/spend. They already cannot retire, now they will be fired and on the streets or at home w/MomnDad
I took your advice 18 months ago, sold all my UK & US stocks & my UK properties, & bought gold & silver. Had I gone the Laffer route (aagh!), I'd be nursing a 60+% loss. Today (28 Feb), my investment portfolio is up +28% overall since Oct 2007. This summer, the US$ and UK£ will crash big. My advice: buy gold on any correction that brings it under $900 oz in the next 4-6 weeks. This will be your last chance to buy at this price. My prediction: Dec 2009 Gold $1425 oz.
Friendship is but another name for an alliance with the follies and the misfortunes of others. Our own share of miseries is sufficient: why enter then as volunteers into those of another?
12 Ways Schiff Was Wrong in 2008 Wrong about hyperinflation Wrong about the dollar Wrong about commodities except for gold Wrong about foreign currencies except for the Yen Wrong about foreign equities Wrong in timing Wrong in risk management Wrong in buy and hold thesis Wrong on decoupling Wrong on China Wrong on US treasuries Wrong on interest rates, both foreign and domestic
Have you bought eggs or milk recently? Gas is moving back up. Buddy, we had inflation in the 1930s. LEARN YOUR HISTORY. GROW MONETARY BASE= INFLATION. Got it f*ck face?
I am really worried now, I got out of the markets in late 06 after hearing Schiff, all my wealth at the moment is in us currency. Now I am wooried that the dollar might decline heavy, forcing me to loss a substantial amount.
What should be my gold to currency ratio?
I ask to see wha a common youtuber might think. Thanks!
Schiff was wrong in the first 10 seconds of this video, so I'm not sure how this is supposed to be a tribute to him. The dollar did not collapse, causing a housing bust and recession; the opposite happened: a global housing and equities bust has caused the dollar to soar. Good thing you have been in the dollar! Now go listen to Mish, who actually called every step of this and made his clients money in 2008.
Wrong! After that call was made in 2007 the dollar lost a great deal of value. It has had a temporary rebound do to all other currencies looking worse (except Yen). The big crash in the dollar is yet to come, maybe 09 or 10. Keep printing (creating) something out of thin air and it's value will decrease. The dollar has lost 96% of it's value since the FED took over in 1913. Today's dollar is worth 4 cents vs. 1913 dollar. If printing your way to prosparity worked, evey country would do it.
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Printing money doesn't work, but every country is doing it. That's been the inflation. Now we have and will have global deflation for a good while, despite Schiff's refusal to see it.
For deflation to happen the money needs to stop circulating (burn it), or they need to stop printing.
They are NOT going to stop printing for a good long while. There will be hyperinflation AT LEAST in the united states (so many promised expenses, and already running a massive deficit), and probably in Europe too.
Only when the pieces of paper are finally WORTHLESS (and regarded as such) will we have deflation. And I'll welcome it with open arms.
No gold go silver, Gold is going to go straight up and straight down. I'm keeping enough currency for at least the next 12 months at current rates and the rest is going into silver.
I think I'm going to write to the new Treasury Secretary and ask him if he can print the trillions of new dollar bills on rolls of two ply toilet paper. That way, they will always have some value in the dark days to come.
Time for an update. You did such a great job on this one, and now we are sinking further in the quicksand. Peter Schiff has made some great calls and the FED/Treasury have sealed our fate. Think Zimbabwe on steriods.
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Schiff sounds sweet on the ears. This is an operation gladio like ploy to leave one of their corrupt inside our ranks to further the _ew world order agenda set by Mayer Amschel Rothschild in 1776. Schiff's great grand daddy Jacob, was raised in a Rothschild estate, later sent to America as another front for the Rothschild's with his Kuhn, Loeb bank and their Jekyll Island 1913 FED set up. Capitalist Jacob Schiff financed bolshevik (aka communist) V.Lenin (Jew) whom killed 30+ million Christians.
Maybe pundits will take him a little more seriously next time instead of laughing and not facing reality. Wait, actual civil and intellectual discussion on FOX News? LOL, nah, not a chance!
Check this guy out, he said back on March 18 2008 that by october the dow would be at 8,000. He NAILED it when everyone else was calling for new highs.
Besides ultimately leading to saner economic policies, I think that this depression coming up will teach the American people a lesson they so desparately need. Namely, buying crap doesn't make you a happier person, and you shouldn't define yourself by the stuff you own.
Peter Schiff is one of very few who knew what was happening.
Our Nobel prize winning economists trained by Ivy League idiots. Are nothing but Animal Farm scums filled with greed ,hubris, and distain for the American people. The old folks from the 1930's have never trusted Bankers or money speculators. There are still a few of those folks around to tell the stories of how rotten to the core Ben Stein types are.
YOU AIN'T SEEN NOTHING YET BITCHES. WE ARE FUCKING BROKE!!!! BY MID 2009 WE'LL HIT
ROCK BOTTOM!!!!!
"watch money masters on Google video if you want to know what we as a nation have to do to save maybe not 4 generations b/c we are terrible learners, but we'll defiantly help the next 2 generations.
If you go to Vegas, you know the casinos are going to win, how else would they be able to build all the casinos? Well, go to any city and look up - those skyscrapers are all owned by banks, investment companies, mutual funds.
Companies that build nothing. All they do is take money that the Fed prints, give it to their friends, and take their cut. Every dollar the Fed prints is stealing a piece of every dollar that honest people own. Our house is a "den of robbers".
In the efforts of accuracy, it might be a good idea to update those charts... I noticed a lack of consumer credit charts as well (which are us dummy creditors that overspent and not just the Evil Fed that made us buy stuff) it would be cool if you included those as well?
In ECO 101 the production is defined as something that grows out of land and labor added to materials to make them better. For the past 20 years we have banks calling their services "Products". We had nothing but fantom assets created by a frenzy worldwide.
FANTOM ASSETS without any inherent value!!!
Our new Prez will do well to understand this basic fact before spending billions to reward failures.
awesome collection of charts. Clearly tells the story of a consumer society dreaming of wealth only to wake up to the nightmare of debt. Now the government is trying their best to lull us back to our dreamy slumber. Except its hard to go to sleep when you're this scared......
We all did this to ourselves, you know. You can blame, "Ohh, it's those nasty "foreign interests," blah blah blah.
Know what? Peter Schiff should make us feel like dicks for our spending glut. Now don't take this the wrong way - I'm no lib. In fact, lib policies (like, "Oh, everyone *deserves* to own a home, etc.") encourage us to be irresponsible, and then try to tell us it isn't our fault when it is.
You can't spend your way out of debt, and that's what Obama and Co. want to try to do.
"Billions of peasants worldwide are willing to work in crudely lit, poorly ventilated factories just to get our paper money because it's that precious"
ROFL!
Those "peasants" work, unlike socialists who sit on their fat asses whining about "greedy capitalists" and waiting for the next government handout.
You should meet my girlfriend. She's a business communication major spelling is key and this drives her crazy, but when it comes down to it. Engineers who use math and can solve problems Save more lives then ppl who know how to spell. I communicate by other means and my mind is jammed packed as it is.
idk maybe one of these days I'll take a spelling class.
Sorry, I'm not being a hater, and I agree with everything you've said. But, to be an effective scientist or engineer, one has to be a good communicator. That's how I justify it anyway :)
Engineers weren't always great socialable people though. The world is more F'd up then what most ppl think. No 1 specializes that much anymore. I know my own situation is a problem in communication, but the whole system is messed up. The ppl who get A's well let's just say they don't talk 2 average people. The industry has us doing secretary work. WE DON'T HAVE SECRETARIES ANYMORE! Industry got rid of them, but we need em 4 all kinds of stuff. If I had it my way Id tear the whole system apart.
The government is delaying the crash. I don't know if there's another crash after mid 2009 or not, but the second wave is coming. THIS MADNESS IS FAR FROM OVER. We are bankrupt! Its not over yet. You'll know when its over, we got a long way to go in 2years.
I was saying we didn't get the inflation spike he spoke about, because the collapse started sooner than he and everyone expected. Deflation is the norm. We may be looking at deflation combined with excess currency being generated, producing something no one in history has seen. I wasn't saying he was wrong, just his forecast wasn't perfect. I happened to show others this video.
About the only place he was wrong was on the inflation area, because the collapse started before the hyperinflation spike he expected. As of now, we just don't know what is up next.
Keynes was a comedian. His ideas were NEVER USED during the Great Depression and shouldn't be now... except somebody forgot to point that out to american politicans and american economists!
Let me explain. The rest of the world uses currencies. There is no, and is not likely to be any, one world currency. Google the 'carry trade' if you want to understand why! Too much money (wealth!) rides on their being different currencies and differences between them re. interest rates. Get a clue!
So the dollar fails... who cares! You yanks owned it all and tossed it away! How stupid is that? lol
...and its almost as funny as yanks using untried and unnecessary economics from a brit economist who himself rubbished his own early ideas later in life.
BTW you chumps still tossed your future and your 'American Reich' away... why did you do that? Are you gormless?
It makes getting a one world currency easier to obtain. look up stuff on the NWO, the IRS, illuminati project, Money Masters, just keep looking up stuff until you have few questions to ask people and then spread info like crazy.
501st like
david52875 6 months ago
Who is the bald guy holding his head? - straight after Mike Norman.
mirabilo 9 months ago
lol 1:23
Nenji4k 9 months ago
I mean I don't want to see him on 60 Minutes.
Someideasandstuff 11 months ago
We want Peter Schiff on 60 minutes
alex630710 1 year ago 2
@alex630710 no we don't.
.
If I discover a bunch of gold in my backyard, mine enough for 1000 gold coins, I'm suddenly rich??? I didn't create anything but "money" plus some intrinsic value. So the people who currently control the gold mines in Africa are essentially the "central bankers" of precious metals who are "mining money" for the most part.
.
Someideasandstuff 11 months ago
@Someideasandstuff
It s not about being rich it s about protecting the value of what you own.
Your silver or gold will retain it s value over a long period of time.
Those who sell gold or silver I agree are the ones who make the big bucks. But these advices from Peter Schiff are very sound. Check out Marc Faber, Jim Rogers, Ron Paul, David Mcalvany and many more. It s the same song .....
alex630710 11 months ago
@alex630710 you should watch the latest Zeitgeist film, Moving Forward, to get a better perspective regarding Capitialism. It has over 3 million views.
Someideasandstuff 11 months ago
Peter probably a kid that wasnt that popular at school nerdy not much to look (i am not gay) but grew in to a cult hero what a legend and people say that a lot of people were predicting the crash in 06-07 this guy was shouting about it in 02
FCMillwall81 1 year ago
Just wanted to comment on your video, I REALLY liked it and I wish you great success with this video!
TheREIMaverick 1 year ago
Home values have fallen 26 percent since their peak in June 2006, worse than the 25.9-percent decline seen during the Depression years between 1928 and 1933, Zillow reported.
paxout 1 year ago
This was made before Bear Stearns collapsed, almost 3 years now and nothing changed. They even more determined to ignore the mistakes, they'll never admit to being wrong ever
ricochetVendetta 1 year ago
Gee --- He was a nobody then --- take a look now!!!!
Schiff you are a champion!!!!
BullionLimitedotcom 1 year ago
ive always thought this guy was a genius
archetype891 1 year ago 2
American's (all parties) are financially ignorant and this is why they are getting what they are getting. The recently election just highlights this. For instance, I doubt that more than a few Tea Party'ers realize that their libertarian ideals (fomulated by Ayn Rand, Ronald Reagan, Ron Paul, Greenspan) were exactly what got them into this mess. Voters are upset it can't be fixed in only 2 years.
This causes the pressure for things like QE2 to be tried... it's is only going to make it worse.
workingcapitalist 1 year ago
Great video, HORRIBLE music. Time to make an updated video for the end of 2010 with what has happened since this video was made. Thanks
platinumplusenter 1 year ago
Schiff is the man!!
xTAxGUNZ 1 year ago
Rage Against the Machine probably wouldn't support Peter Schiff. But their background music sure is badass!
MishuTaste 1 year ago
@MishuTaste This is not Rage Against the Machine, its The Beastie Boy's "Sabotage."
hummarstra 1 year ago
@hummarstra OOPS
MishuTaste 1 year ago
Peter Schiff is the man!
Scarbogn 1 year ago
Watch my video. It will blow your mind away!
fridaysabtu 2 years ago
Obitchyouwary couldn't out-dive two more experienced Bush-pilots when Joe Plumber was on Debate III with an IQ of TWO for a half-hour, so Granny Maddie told Bam he was Kenyan, she died, and that's all I have to say about THAT. Shoulda dumped, but he gumped past Cosby and Bel Air, which tell him to STAY HOME, and leave Star Trek to the conventioneers, but NO! We wait for Disney to roll over and invent a new cartoon, for Mr.President. Planes, copters, and cars roll over, in 2011. Got volcanoes?
bobgnote 2 years ago
Besides the dollar, he's totally wrong here.
mwheeler17 2 years ago
Given that he was talking about hyperinflation and were are in hyperDEflation. Also the world has realized if the USA goes down the tubes the rest of the world will go down with us.
Maximara 1 year ago
I just love all the chicken littles of the world. How's your gold doing? Still on the way to $5,000/oz.? I can sell you a sweet bunker if you want one too.
mwheeler17 2 years ago
@mwheeler17
Actually, the new floor for gold is now 1100/oz., and rising. Game isn't over, yet.
kingpins9 1 year ago
@mwheeler17 How much are you selling the bunker for?
yetibait01 1 year ago
sweet.
AnarchoCapitalistTV 2 years ago
I've seen this video many many times and still love the way the music and video are edited. Great job.
SPVTrading 2 years ago 3
Great Video. Sick tune.
b1muas22 2 years ago
Schiff for senate 2010
scott04la 2 years ago 8
Totally original @ 55 seconds...Credit Crunch Cereal with Free Helicoper inside...love that cearal box outlay!
AccuracyMarked 2 years ago 5
There is nothing going on, (its not a con 2.52) just go back to sleep and when you wake you'll be in the gutter along with everyone else.
wackydan74 2 years ago 2
2:52 lol peter schiff owning the convo
wtfbroskie 2 years ago 2
I wish this guy was obamas economic advisor, but that would mean obama would have to care about america and american business, and we all know he dosent
CHRISCOOBS 2 years ago 3
Well obama probably cares about some businesses. Particularly those that helped him get elected and maintain good poll numbers. GE for sure.
rayyf69 2 years ago
The only reason to own gold and silver isnt because of inflation. Gold does terrible during inflation. Since the 1700's it only rose in one inflationary period, the 1970's, and quickly collapsed. Gold and silver is only good for one thing, to insure yourself against all fiat currencies collapsing. Hoarding metals is retarted. Your better off in real estate at these levels. The gold hoarders never win out. They are always fighting last decades battle.
30percentplusreturns 2 years ago
Maybe it's time the gold hoarders actually won out. =)
JarPoL101 2 years ago 6
Jefferson and Hamilton authored the Coinage Act of 1792: In this Act of Congress the word "dollar" was defined by statistical assay of the Spanish Milled Dollar in circulation to contain 371.25 grains of silver. If you take a paper FRN and demand your 371.25 gr. of Ag (i.e. a silver dollar ) the banksters will just laugh you out the door... they'll stop laughing when we arrest them and try them for treason and counterfeiting. Git yer pitchforks boys. (480 grains = 1 troy oz)
xylovideo 2 years ago 20
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You people dont get it. There will be no hyperinflation. The fed can print 2 trillion, but if 2 trillion vanishes from real estate assets, and world stock wealth, there is no addition to the money supply. Most ameteurs just dont get this point. We already had inflation from 2000 to 2008. Its over now. Most people thought they had hundreds of thousands in net worth and now they realize they are underwater and going bankrupt. This isnt inflationary.
30percentplusreturns 2 years ago
Value is value. The question should be whether "deflation" is actually BAD, if prices are going down with everything else, or not.
The typical argument against both deflation or inflation tends to include the word "distortion."
If people can make an educated guess about what's going to happen in the future, they'll make decisions that will, generally, be to the benefit of the overall economy.
Unpredictable economic distortions due to government intervention make educated guesses impossible.
caltrop69 2 years ago
Am i right in thinking that real estate assets and stock wealth are not part of the money supply?
chrisnedwards 2 years ago 4
MrAlanKendall - It will not take that long to see high inflation, 2013 it will start happening ,and things will get really bad.
aviomaster 2 years ago
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schiff was wrong, this video is stupid.
FreakishDonQuixote 2 years ago
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Yeah he is jew
dimaniak3 2 years ago
HAHAH rage. awesome vid, 5 stars.
latewire 2 years ago
A great analyst !!!
verso2012 2 years ago
Apparently oil is going back to $150.00 - why don"t we watch and see . . .
1summit7 2 years ago
All those guys are either idiots or liars compared to Peter Schiff. They should be locked up in prisons for fraud.
yjfoo81 2 years ago 3
Silly me, I was listening to this and thought this was Peter Schiff was talking in 2008, not 2002. Do you know how right that means he is?
itmightbetime2012 2 years ago
In that same 2002 interview he also made some predictions that were dead wrong. I'm a Schiff fan, but he's been wrong a lot, too. I don't remember the exact numbers, but he predicted the Dow would continue to plunge below the 2002 low and it never did. He's currently predicting the oil will go back to 150, but there are no signs of strength in the oil market now. That'll be YEARS away.
SPVTrading 2 years ago
As of last week OPEC is refusing to increase production to meet summer demands. Oil has risen to over $65 a barrel nearly double the $35 it was in late march. All the smoke and mirrors this admin is trying to pump that the economy is getting better is just that. SMOKE and Mirrors. They claim to have created or saved just over 150 thousand jobs yet fail to inform us that they have created 80,000+ govt jobs not private sector Govt employs over 2.5 million people. Largest employer in the world.
joshborne 2 years ago
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watch?v=AHgxIioiff0 - Peter Schiff is JEW!"
dimaniak3 2 years ago
I dont' give a fuck if he is a Arab Muslim. He knows economics and is right.
hexzerg 2 years ago 7
Looks like Austrianism triumphs.
Praetonia 2 years ago
This comment has received too many negative votes show
watch?v=AHgxIioiff0 - Peter Schiff is JEW!
von Mises is jew too!
dimaniak3 2 years ago
and you're a turd.
amiecanflyyy 2 years ago
What does somebodies ethnicity have to do with their support of economic freedom ?
rayyf69 2 years ago 7
The combination of punk music and economic bullshit is awesome. XD
Now punks have something to complain about again.
xXWeezerXx 2 years ago 3
All HAIL! Austrian Economics!
Boo Hiss Keynesian hacks!
Bye, paper trash currency, central bankster frauds, lying politicians and the parrots in the MSM!
Ghoul Greenspan you Lurch looking Motherfucker! Helecopter Ben Bernanke and Turbo Tax Giethner, fools and con-artists all.
And a very speacial heart felt FUCK YOU to "Lord" Keynes!
Oh and a FUCK YOU to all the American Idol watching , sports watching, Obama, Hannity Limbaugh, and Fox listening, Left AND Right wing sheep!
ok1jwc 2 years ago 78
Bravo, well said!
msaghirmd 2 years ago 9
This comment has received too many negative votes show
watch?v=AHgxIioiff0 - Peter Schiff is JEW!
von Mises was JEW!
Keynesian, Austrian, Monetarism, Communism is all jewish crap!
dimaniak3 2 years ago
It's logic !
Actually the only logic you will find it in the Austrian Economics !
That's it !
From Von Mises, Rothbard, Hazlitt, Thomas E. Jr. Woods with his best selling MELTDOWN, Schiff etc !!!!
This is the road people ! Educate yourself because the gov it wont do it ! That it ! Simple as that !
""""In these dayz we don't steal anymore WE PRINTED !!!!""" The GOV
secretarul 2 years ago 4
you got it 8 D
97% money isn't printed.
lorerax1 2 years ago
You didn't understand a damn from what a wrote !
....
Try a little less writing..
and a little more reading ;-) !!!
secretarul 2 years ago
I'll have to keep learning I guess.
lorerax1 2 years ago
@ok1jwc Couldn't have said it any better!!! Glad to see that you made fun of both parties!
DJAnthonyillWill 1 year ago
@ok1jwc what is this Austrian Economics i keep hearing about
partridgeluke 1 year ago
@ok1jwc
What started the turn around during the great depression?
What caused unemployment to spike in 1937?
What finally ended the great depression?
Two of them where Keynesian, one was not...
Are we going to study history or are we going to repeat it?
I think your prescription will take us to cannibalism?
The bubble is going to burst... again. Then we have collapse.
Then it gets ugly! Will we be able to recover?
I think we need a longer view of history
Knossos22 1 year ago
@ok1jwc
Here, here!
MegaAvalonn 11 months ago
@ok1jwc Just stick to econ...I am a sports fan and also an Austrian believer. Did a sports fan beat you up as a child? Also, what's wrong with American Idol? It's a TV show...watch it or don't watch it, either way it really has nothing to do with this video. You took a good point and expressed it very poorly.
justintroutmusic 9 months ago
@justintroutmusic LOL sorry really I had a few too many brews that night! I dont hate the sports fans OR the AI watchers in truth just the ones who are so zombiefied that they do not see at all what is happening to their nation. The ones who dedicate their lives to these distractions, what was referred to as "bread and circuses" for the roman empire. THESE are the sheeple I meant.
ok1jwc 7 months ago
looks like the austrian school wins yet again
Praetonia 2 years ago 5
He is 100% right on,
MYFreeSpeach4U 2 years ago 3
check out what the "new nazi youth" thinks about peter schiff...
watch?v=KAGa1mbBvC8
schiffhashitthefan 2 years ago
Peter Schiff was right. Watch the clips from 06/07 when the talking heads would laugh at his predictions. Bet they're not laughing now.
Bernanke announcing the Fed will print $1 trillion dollars out of nothing to purchase treasury securities is the final nail in the coffin of the dollar. Buy gold.
logwind 2 years ago 5
......and silver
KingDrudge 2 years ago
Yes, keep shipping those jobs that caused the crash.
We were led by our own greed for higher profits/cheaper labor and cutoff our own nose. (American CEOS anyway.)
UnoRaza 2 years ago
You forgot all the regulations and taxes and the gov. imposed on them, the companies
MIT2004 2 years ago
If they had imposed taxes on exporting of jobs we would not likely be in this mess.
In other words we'd still have Americans with money to save/spend. They already cannot retire, now they will be fired and on the streets or at home w/MomnDad
UnoRaza 2 years ago
Check out the new "Subprime Gangster" video by E-Money. high quality audio is available on iTunes
SubprimeGangster 2 years ago
Nicely done. Very nice.
L1John 2 years ago
I'm thinking about following Schiff and Rogers's advice on investing in commodities. These guys have brains.
scabinack1 2 years ago
I bought some gold few months ago and I make some money. Thanks Peter!
bensontam 2 years ago
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Thank you Peter Schiff.
I took your advice 18 months ago, sold all my UK & US stocks & my UK properties, & bought gold & silver. Had I gone the Laffer route (aagh!), I'd be nursing a 60+% loss. Today (28 Feb), my investment portfolio is up +28% overall since Oct 2007. This summer, the US$ and UK£ will crash big. My advice: buy gold on any correction that brings it under $900 oz in the next 4-6 weeks. This will be your last chance to buy at this price. My prediction: Dec 2009 Gold $1425 oz.
Silberdachs 2 years ago
I've posted this twice before, but I've got to say it again: I just love this video. Awesome job, msaghirmd!
hummarstra 3 years ago
Hindsight is easy, if only more people would have listened THEN.
WhiteSavage02 3 years ago
Friendship is but another name for an alliance with the follies and the misfortunes of others. Our own share of miseries is sufficient: why enter then as volunteers into those of another?
Thomas Jefferson
lorerax1 3 years ago
Nice vid its in my top 9 !
joeymackaroni 3 years ago
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30percentplusreturns 3 years ago
Wow, not one original thought in your puny brain. The old Mike Shedlock cut and paste.
msaghirmd 3 years ago
Have you bought eggs or milk recently? Gas is moving back up. Buddy, we had inflation in the 1930s. LEARN YOUR HISTORY. GROW MONETARY BASE= INFLATION. Got it f*ck face?
msaghirmd 3 years ago
Comment removed
richi1173 2 years ago
That's due, predictably, to supply cuts, not changes in the money supply.
The dollar is deflationary right now
Your completely wrong about inflation in the 1930's. We had deep, deep deflation.
richi1173 2 years ago
And the New Deal did nothing, but deeply prolong the problem
charleshoskinson 2 years ago 6
What is the name of this song ????
lregazzini 3 years ago
Beastie Boys "Sabotage"
prescottbill 3 years ago
yeah this song's the shit!
alkatifa04 3 years ago
He looks like Rothbard in the beginning.
TurdFergisson 3 years ago
I am really worried now, I got out of the markets in late 06 after hearing Schiff, all my wealth at the moment is in us currency. Now I am wooried that the dollar might decline heavy, forcing me to loss a substantial amount.
What should be my gold to currency ratio?
I ask to see wha a common youtuber might think. Thanks!
qmiler88 3 years ago
Schiff was wrong in the first 10 seconds of this video, so I'm not sure how this is supposed to be a tribute to him. The dollar did not collapse, causing a housing bust and recession; the opposite happened: a global housing and equities bust has caused the dollar to soar. Good thing you have been in the dollar! Now go listen to Mish, who actually called every step of this and made his clients money in 2008.
bradw2k 3 years ago
Wrong! After that call was made in 2007 the dollar lost a great deal of value. It has had a temporary rebound do to all other currencies looking worse (except Yen). The big crash in the dollar is yet to come, maybe 09 or 10. Keep printing (creating) something out of thin air and it's value will decrease. The dollar has lost 96% of it's value since the FED took over in 1913. Today's dollar is worth 4 cents vs. 1913 dollar. If printing your way to prosparity worked, evey country would do it.
prescottbill 3 years ago
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Printing money doesn't work, but every country is doing it. That's been the inflation. Now we have and will have global deflation for a good while, despite Schiff's refusal to see it.
bradw2k 3 years ago
For deflation to happen the money needs to stop circulating (burn it), or they need to stop printing.
They are NOT going to stop printing for a good long while. There will be hyperinflation AT LEAST in the united states (so many promised expenses, and already running a massive deficit), and probably in Europe too.
Only when the pieces of paper are finally WORTHLESS (and regarded as such) will we have deflation. And I'll welcome it with open arms.
DasGuntLord01 2 years ago
Deflation is a bad thing, just like inflation.
It can worsen an already sore wound.
It worsens debt and worsens profit, which means more layoffs and more people foreclosing.
The real estate bubble is an example of rapid deflation, and look what happened.
richi1173 2 years ago
You sound smart enough...Why is everything you say wrong?
toshzpelta 3 years ago
No gold go silver, Gold is going to go straight up and straight down. I'm keeping enough currency for at least the next 12 months at current rates and the rest is going into silver.
thecomicsitedotcom 3 years ago
I think I'm going to write to the new Treasury Secretary and ask him if he can print the trillions of new dollar bills on rolls of two ply toilet paper. That way, they will always have some value in the dark days to come.
Boscovius 3 years ago 2
Time to pay the piper Americans.
brisgirl2004 3 years ago
I want a Bernanke helicopter
SilencerRPMs 3 years ago 3
you need to understand what he meant by that
apparently you dont
jonLukasC 3 years ago
Time for an update. You did such a great job on this one, and now we are sinking further in the quicksand. Peter Schiff has made some great calls and the FED/Treasury have sealed our fate. Think Zimbabwe on steriods.
prescottbill 3 years ago
The Federal Reserve is the biggest crimminal organization in the world!
JakeJarmel 3 years ago 4
True--the emperor has no clothes and we all know it
Lyndehouse 3 years ago
Exactly. It's about as "Federal" as Federal Express, and has absolutely no "reserves" whatsoever. Biggest robbery in history.
BadgerinSC 3 years ago
awesome video!!
briangus01 3 years ago
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Schiff sounds sweet on the ears. This is an operation gladio like ploy to leave one of their corrupt inside our ranks to further the _ew world order agenda set by Mayer Amschel Rothschild in 1776. Schiff's great grand daddy Jacob, was raised in a Rothschild estate, later sent to America as another front for the Rothschild's with his Kuhn, Loeb bank and their Jekyll Island 1913 FED set up. Capitalist Jacob Schiff financed bolshevik (aka communist) V.Lenin (Jew) whom killed 30+ million Christians.
gaycure 3 years ago
Maybe pundits will take him a little more seriously next time instead of laughing and not facing reality. Wait, actual civil and intellectual discussion on FOX News? LOL, nah, not a chance!
ADVIZR 3 years ago 3
I love this video. Great job, mshagirmd!
hummarstra 3 years ago
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Peter speaks the truth. Check out his videos, articles, and his podcast, all on one page at Peter-Schiff . com.
ggadguy 3 years ago
Wake up!!!! Take the red pill
watch?v=9bcmapVmQpo
Check this guy out, he said back on March 18 2008 that by october the dow would be at 8,000. He NAILED it when everyone else was calling for new highs.
BobBrinkerisanIdiot 3 years ago 3
He is a hero who no-one listened to
kickittome70 3 years ago 5
Besides ultimately leading to saner economic policies, I think that this depression coming up will teach the American people a lesson they so desparately need. Namely, buying crap doesn't make you a happier person, and you shouldn't define yourself by the stuff you own.
hamsterama 3 years ago 2
leave it up to congress to borrow our way out of debt
sayanythingkicksass 3 years ago
Peter Schiff is one of very few who knew what was happening.
Our Nobel prize winning economists trained by Ivy League idiots. Are nothing but Animal Farm scums filled with greed ,hubris, and distain for the American people. The old folks from the 1930's have never trusted Bankers or money speculators. There are still a few of those folks around to tell the stories of how rotten to the core Ben Stein types are.
jobedied 3 years ago 15
Take a look at a chart of the dollar index going back to 2002. Peter NAILED it.
hummarstra 3 years ago
Jesus smashed the stands of the money changers in the temple. If Jesus did it, so should we. Tyler Durden was right.
draggeddownthehole 3 years ago 5
YOU AIN'T SEEN NOTHING YET BITCHES. WE ARE FUCKING BROKE!!!! BY MID 2009 WE'LL HIT
ROCK BOTTOM!!!!!
"watch money masters on Google video if you want to know what we as a nation have to do to save maybe not 4 generations b/c we are terrible learners, but we'll defiantly help the next 2 generations.
lorerax1 3 years ago
If you go to Vegas, you know the casinos are going to win, how else would they be able to build all the casinos? Well, go to any city and look up - those skyscrapers are all owned by banks, investment companies, mutual funds.
Companies that build nothing. All they do is take money that the Fed prints, give it to their friends, and take their cut. Every dollar the Fed prints is stealing a piece of every dollar that honest people own. Our house is a "den of robbers".
Matthew 21:12
BigWaterJar 3 years ago
Great video!!
hummarstra 3 years ago
Great Music. Love it!
jfcrow1 3 years ago
In the efforts of accuracy, it might be a good idea to update those charts... I noticed a lack of consumer credit charts as well (which are us dummy creditors that overspent and not just the Evil Fed that made us buy stuff) it would be cool if you included those as well?
forestnomad 3 years ago
Inflation is the tool the fed uses to MAKE US SPEND.
msaghirmd 3 years ago
In ECO 101 the production is defined as something that grows out of land and labor added to materials to make them better. For the past 20 years we have banks calling their services "Products". We had nothing but fantom assets created by a frenzy worldwide.
FANTOM ASSETS without any inherent value!!!
Our new Prez will do well to understand this basic fact before spending billions to reward failures.
KDKAPOOR 3 years ago
Paper is Not Money. GOLD Is Money! Tell your congressman to support HR 2755!!! Google "inflation tax" and "fiat money".
iannetta11 3 years ago 6
God this song is fitting! Love the Beasties almost as much as Schiff.
adampeart1 3 years ago
B52BEN Inflation Bomb FTW!!!
MrBr3w 3 years ago
This video is absolutely meaningless unless the dates of his statements are flashed on the screen.
7855waldo 3 years ago
I wonder if this guy can be in Obama's cabinet?
tackyace 3 years ago
XD lol yeah sure. heck why not just elect Ron Paul. He would have put this guy in there. Ron Paul was right.
lorerax1 3 years ago 2
Hypothetically, yes. Obama's not that wise, so no.
adampeart1 3 years ago 2
awesome collection of charts. Clearly tells the story of a consumer society dreaming of wealth only to wake up to the nightmare of debt. Now the government is trying their best to lull us back to our dreamy slumber. Except its hard to go to sleep when you're this scared......
riversonthemoon 3 years ago
We all did this to ourselves, you know. You can blame, "Ohh, it's those nasty "foreign interests," blah blah blah.
Know what? Peter Schiff should make us feel like dicks for our spending glut. Now don't take this the wrong way - I'm no lib. In fact, lib policies (like, "Oh, everyone *deserves* to own a home, etc.") encourage us to be irresponsible, and then try to tell us it isn't our fault when it is.
You can't spend your way out of debt, and that's what Obama and Co. want to try to do.
baboojackal 3 years ago
"Billions of peasants worldwide are willing to work in crudely lit, poorly ventilated factories just to get our paper money because it's that precious"
ROFL!
Those "peasants" work, unlike socialists who sit on their fat asses whining about "greedy capitalists" and waiting for the next government handout.
nomorecommies 3 years ago
Fucking brilliant!
nomorecommies 3 years ago
The last picture sums it up so well
tfeems 3 years ago
When will Bernanke and Paulson set their ego's aside and ask Schiff what they should do next!?
TrackerMedic 3 years ago 3
Schiff IS the prophet. He sees the future, he knows what is to come.
---
He is one brave guy to stand up against the mainstream who - even now, remain deluded and don't understand what is happening and why.
Great video 5*
LondonCrusader 3 years ago 3
NO he is not a Profit. He just understands how the market/economy works.
Watch "Money Masters" on Google video.
Look up this man and see what he has to say.
David Walker-He's our top accountant
search you tube for the vid. "The U.S. Economy is Unsustainable"
Then there's Ron Paul, There's other ppl like these people.
lorerax1 3 years ago 4
prophet
t0pmen 3 years ago 6
You should meet my girlfriend. She's a business communication major spelling is key and this drives her crazy, but when it comes down to it. Engineers who use math and can solve problems Save more lives then ppl who know how to spell. I communicate by other means and my mind is jammed packed as it is.
idk maybe one of these days I'll take a spelling class.
lorerax1 3 years ago
Sorry, I'm not being a hater, and I agree with everything you've said. But, to be an effective scientist or engineer, one has to be a good communicator. That's how I justify it anyway :)
t0pmen 3 years ago
Engineers weren't always great socialable people though. The world is more F'd up then what most ppl think. No 1 specializes that much anymore. I know my own situation is a problem in communication, but the whole system is messed up. The ppl who get A's well let's just say they don't talk 2 average people. The industry has us doing secretary work. WE DON'T HAVE SECRETARIES ANYMORE! Industry got rid of them, but we need em 4 all kinds of stuff. If I had it my way Id tear the whole system apart.
lorerax1 3 years ago
I didn't know economics videos could roll like that.
Hell yeah!!!
TomdeSabla 3 years ago 2
economics videos are better than porn
kaushikchemburkar 3 years ago 3
Great job ..............
guslingus 3 years ago
Nice one, ive bought both his books
NicNasty1981 3 years ago
Well, the crash didn't quite happen the way he said. But, it did happen.
richardhutnik 3 years ago
It fucking happen dude!....goddam how the way it happen, it happen! so what?
usergently 3 years ago
read crash proof he listed like 20 possible ways
NicNasty1981 3 years ago
DUDE YOUR NOT GETTING IT!
The real crash hasn't happened yet!!!
The government is delaying the crash. I don't know if there's another crash after mid 2009 or not, but the second wave is coming. THIS MADNESS IS FAR FROM OVER. We are bankrupt! Its not over yet. You'll know when its over, we got a long way to go in 2years.
lorerax1 3 years ago 3
I was saying we didn't get the inflation spike he spoke about, because the collapse started sooner than he and everyone expected. Deflation is the norm. We may be looking at deflation combined with excess currency being generated, producing something no one in history has seen. I wasn't saying he was wrong, just his forecast wasn't perfect. I happened to show others this video.
richardhutnik 3 years ago
well maybe his timeing is off or maybe the how was off, but the impact is on target.
(b/c I'm not an economist, but I've looked into it a bit to know how bad this is going to be),
"1929 was practice"
Watch "money masters" on Google video.
lorerax1 3 years ago
About the only place he was wrong was on the inflation area, because the collapse started before the hyperinflation spike he expected. As of now, we just don't know what is up next.
richardhutnik 3 years ago
And isn't this run-the-printing-press-fractional-reserve-central-bank "Keynesian economics" just another lousy british idea?
zupf 3 years ago
I agree.
Keynes was a comedian. His ideas were NEVER USED during the Great Depression and shouldn't be now... except somebody forgot to point that out to american politicans and american economists!
LOL
Spend, spend, spend!
LOL
flangelet 3 years ago
This video rocks as does Peter Schiff.
electroplate 3 years ago 5
"One world currency is on the way."
LOL
Chump!
Let me explain. The rest of the world uses currencies. There is no, and is not likely to be any, one world currency. Google the 'carry trade' if you want to understand why! Too much money (wealth!) rides on their being different currencies and differences between them re. interest rates. Get a clue!
So the dollar fails... who cares! You yanks owned it all and tossed it away! How stupid is that? lol
flangelet 3 years ago
That's funnier than when I googled "british pull own teeth".
zupf 3 years ago
...and its almost as funny as yanks using untried and unnecessary economics from a brit economist who himself rubbished his own early ideas later in life.
BTW you chumps still tossed your future and your 'American Reich' away... why did you do that? Are you gormless?
flangelet 3 years ago
Flangelet, you act as if we Americans did it by choice. Our country has been owned and controlled by foreign interests for decades. Get a clue.
monkeydog2332 3 years ago
You chose to sell US Treasury Bonds, Bills and Notes, didn't ya?
How is that not 'choice'?
flangelet 3 years ago
Just goes to show you, never listen to the Brits...
The Austrians have far better ideas when it comes to the economy.
I think your right about the end of empire. I just hope it doesn't take the rest of the world down with it.
Nexus974 3 years ago
If too much money rides on different currencies, then why the Euro?
Nexus974 3 years ago
It makes getting a one world currency easier to obtain. look up stuff on the NWO, the IRS, illuminati project, Money Masters, just keep looking up stuff until you have few questions to ask people and then spread info like crazy.
lorerax1 3 years ago