One fundamental error: THERE IS NO SUCH THING AS A FREE MARKET. It's a fantasy, because somone will always take control. If it isn't a democratic, freely elected, properly constituted government, acting on behalf of free people, it will be corporate gangsters. Forget the fantasy of unregulated markets, and get some workable rules in place.
Rebecca Jarvis is not an economist, she's just a hottie that came from the reality show, "The Apprentice." She has no financial background and is just a pretty face. That's besides the point. The media is bought and paid for by the same people who run the Federal Reserve and are told what to say. They are there to look good and deceive the public.
one thing though, a lot of governments are doing this... basically all countries are going to be inflating their currencies... so maybe it's not only an american problem and that means relatively speaking, though the dollar might suffer, it might not be as bad as schiff is saying...
Peter makes economics interesting. The guy is a rockstar. If government wasn't so corrupt, Peter would be in charge of the federal reserve instead of some NWO stooge like Bernanke who BTW is sending the old USA down the toilet.
Peter has the same problem that Ayn Rand had: The inability to accept that most human beings don't behave rationally. He's right, but arguing what government should and shouldn't do, when it's OBVIOUS they ARE going to pursue the incorrect course of action, isn't very productive. Let's get some advice for us working stiffs who get paid in dollars.
To caltrop69: Apparently the obviousness of government failures isn't enough to convince 4 of the 5 investors there. Peter has an investment firm, if you care about what to do with your dollars then go there, of course that assumes you care more about your money rather than trashing Rand and Peter. Rand has in her writings been more than clear that man has not acted as rational as he should have for most of his history, but of course you would know that if you've read her.
They disagree with Peter because they have a "matter of opinion" view of science. I'm not trashing Rand or Peter. I was just pointing out that they both share, what I consider, an unreasonable optimism that most people are actually going to listen to reason. I would have given up a long time ago. I would have gone the direction of John Galt.
Sorry about getting back to you so late. My email's been dumping my youtube comments into it's spam bin.
PETER knows his stuff...the market is being manipulated by the the rich and powerful the GOV. created the Reinvestment act...they created fanny and freddy...they created subprime and option arms..they interfered and now we are where we are. plain and simple. they new the poor were gonna default on there home mortgage they new... most people are like pawns in the rich mans game.
Friend, we probably agree on almost 100% here. My only contention is that Friedman showed the GD was largely due to a contraction in the money supply. He was no big spending lib, either. But I'm pretty convinced a contraction in the money supply would be devastating now as it was then. However, I do disagree with the culture of moral hazard being imbued with these mass bailouts. It's so much that inflation is inevitable. But seriously, check Friedman's Nobel piece on the matter.
Why does everyone think a stimulus package created by Obama is going to save us all? If spending money on projects that have no ROI was a good idea, why doesn't the government just blow all types of money all the time? Then we could have a supposed 0% unemployment rate! And why? Because it doesn't work - and it won't work for Obama because he is going to focus on the kind of work and industry that has no future. Sadly that means leaving out entrepreneurs to 'spread it out'. Good job voters.
I agree with Peter on much of this except for the part about the money supply. Milton Friedman showed, and won the Nobel in Economics for this, that much of the blame for the Depression was due to a shrinkage in the money supply.
That's like blaming a hangover on the stopping of drinking. If only they could have kept drinking for ever and and ever, then they would never get a hangover, right?
It's all speculation. Dollars aren't flooding the market. The pricing hasn't adjusted for true deflation yet. so you have a crash in real estate and stocks, an economic slowdown, and high unemployment...and somehow these guys think inflation. Idiots. This guy is going to be left with a shed full of shiny metal.
Interesting discussion. I think Andy agreed with Peter, but was just trying to make the point that the misguided government is going to do something, and hopefully it can be guided to do the least possible damage.
Lots of agreement with Schiff. The older dude (missed name) gave the standard "FDR saved us" view of the depression. Great to see the 2 accounts of history come face to face.
I think that capitalism and the application of interest is a rationalisation of slavery.
Regulation on the other hand is the false-flag solution to ease the public into believing that something is going to change for the better. Of course it can't. We're marching straight into a period of re-feudalisation of our society.
For my part, I don't want to be either a slave nor a slaveholder nor a guy living an illusion.
didn't your founding fathers say that all men are created equal?
There is only one type of capitalism, free market. The fact that gov't tends to mix capitalism with socialism does not mean that there are different types of capitalism. Just that there are confused governments.
there is a difference between free market and "free market"..one is truly free market with police folks working and capturing the bad guys, and the is another free market that steals, butchers, creates wars and get away with it.. so let's have regulators that prevent this and not the other.. but we all know that is impossible 4 a simple reason called corruption.. so free market does work, but you have to be a inteligent person, something 99% of people around the world are not..
You guys don't get it--we want most people to "not get it", because as a contrarian, I want to be on the other side of the consensus, especially if that consensus (CNBC) is stupid. Too many gold bugs scares me if I'm long gold, which I am.
I agree Schiff is spot on, but his timing could be better.
Gold is at new highs in all other currencies except for the yen and the dollar. That soon will change as the dollar plunges and the yen becomes "unpegged". Give it time it will happen maybe 18-24 months, fiat currency always fails. Always.
Capitalism won't work in this country as long as AFL CIO, the AFT (American Federation of TEachers) and the ACLU is still as powerful as they are. These organizations stifle growth and competition in any field leading to mediocrity... look at our schools and our industry. Nobody wants to buy from us, not even us. Moreover our kids are stupid, thanks to the ACLU (leave my child alone, if he/she wants to act up in class, let them) and the teacher unions (some NOT ALL teachers are lazy)
Peter has been right so far... but I don't get it ...."poof" demand is going to return not in America, but abroad. ... My Asian friends say China is having a very hard time.
Peter has never said overseas economies will recover overnight. He's saying the US economy will not recover any time soon (because of govt interventions...collapse of dollar) and other nations will recover once they dump us...because they have surpluses, savings, productivity (not service economies) and citizenries that live beneath their means. The world will continue to eat and use commodities...whose fundamentals are unimpaired...and gold will rally as our currency resumes its plummet.
Tyler saying the government didnt cause these investment banks to lever 40 to 1???? The govt did so!!!!! They bailed out long term capital management and the word on the street was fannie and freddie would be bailed out if anything ever went wrong. So of course these banks are going to leverage up like crazy. If the govt wasnt their to bail them out they would of never leveraged that much!! Tyler you are so wrong and peter is so right! Govt does nothing right ever and just makes things worse
This should add perspective to Tyler Matheson screaming at Peter Schiff that he has no idea what he is talking about.
For the past few years Peter was warning about the credit bubble created by the FED & the damage it would cause in this country.
For the past few years Tyler Matheson hosted a CNBC show called "High Net Worth" which profiled the lifestyles of people who enriched themselves while bankrupting the country.
CNBC people are just trying to protect their own wallets by making Peter look absurd. Typical news media outlet. The newscasters on this station get paid quite well to persuade us people that government is good. But the Americans know that GOVERNMENT SUCKS!
Peter is almost right...there is no "free market". How is it free if Rotschield has trillions and trillions of dollars (or euros, or whatever) to corrupt all the politicians in the world? So, Rotschield can start a WW3 tomorrow, using just a little bit of his money. There is no "free" market.
This is the kind of environment I like seeing Peter in; open minded, realistic, and stimulating. Almost every other show he's on ridicules him. This was a much better platform for him to get his message across.
I propose that anyone who confuses people by those "quantitative easing" or "liquidity injection" terms, rather than just saying plain truth: printing money out of thin air and debasing money supply, should be sued. If you agree, pls press thumbs up.
shortage will be there for Industrial commodities like spares,forges,tyres,becoz every factory is being locked out
very difficult to say what will be left standing after a hurricane hits you.peter is probably the one who is inside the house while rest are jumping into the sea for surfing.
leave a nation to rut for 10 years all economic problems will be solved
tell me what was left to be solved in 1939 other than huge liabilities of the govt.
everything would have been sorted if people were allowed to sort it on their own.
but nobody seems to see social causes of depression.
people investing big in stocks in 1929 were big aristocrats.same thing happened.people toiled hard,bought govt bonds during the war and bailed all the rich people out.
I have been following PS (and other Gold Bugs) for sometime. Yes he has correctly predicted this depression, and his analogies on macroeconomic are sound. But the fact that he did not anticipate the collapse of the foreign stock markets and commodities, and the recent rise of the dollar tells me that his overly bearish view on the US has falsely affected his buy-and-hold investment strategy. People who invested following his advice one or two years ago would be down at least 50%.
But they are still getting dividends off those stocks which are apparently paying well. His client's portfolios were down 50%, but that doesn't matter since selling them was never the plan. The plan was to hold them long term and make money off the dividends.
It's a only a matter of time before the dollar collapses. Trillions of dollars are being created. When the stock market jumps up over the next year the dollar will correlate in the opposite direction. It won't matter what shape the foreign stocks will be in because holding the other currency alone will make them worth more.
the stock market is a ponzi scheme anyway sheesh, the entire stock exchange is a zero sum game where LOSERS are required for there to be winners, like a Poker game.. The stock market doesn't "create" wealth, it only redistributes it
What I love about Peter is that his economic philosophy is totally back to basics, and he's dead right on everything. Unfortunately, for him (and us), his ideas are politically untenable. So basically, we are doomed to many years of stagflation because we live in a democracy and Americans are not bright enough and brave enough to let the free markets get us out of this mess.
"we are doomed to many years of stagflation because we live in a democracy and Americans are not bright enough and brave enough to let the free markets get us out of this mess."
It's funny that guy who was saying I agree but we have to face reality. It's kinda like knowing you're going lose a war, so why not just join the other side. Sad.
Lets imagine the purchasing power of the dollar is crippled during a hyper-inflationary scenario. Precious metals prices skyrocket. One doesn't need a job to sell some physical metal for ridiculous amounts of dollars to meet their monthly payment requirements.
"Andy, thank you so much for fighting the good fight". What good fight? The fight for total government control? What a revealing way she ended that discussion. Peter, please keep it up! I'm learning so much!
Greenspan and the Fed are not really part of the government. What interest does the Fed have in economic growth? Once in a while they go in front of congress and talk, that's it. Federal Reserve stock pays 6%, whether the economy grows or not. They really work for the banks they represent, so Peter Schiff is wrong to say that the government interfered with low interest rates.
"What interest does the Fed have in economic growth?"
Unfortunately, since they've deviated from their original mandate of price stability and are acting in Wall St.'s interests, they have a lot of interest in economic growth. It's the reason they lower interest rates so drastically when things are getting bad, to stave off a recession. And it ends up maintaining imbalances in the economy and the liquidity they pump into the market blows up another bubble. Kicking the can down the road.
The point I was making is that they still have their appointments and the Federal Reserve Stock always pays 6% dividends to member banks. It's gotta be tough appearing before congress, but it's not like anyone is going to lose their job over this. Bernanke stated in summer 2007 that he did not want to reward(lower rates) those responsible for the bad debt(ARMs etc.) We are all paying for his decision. How many Federal Reserve Banks were actually in on these transactions to begin with?
hey phil. thanks for collecting these clips. i'm from australia and don't get this stuff on tv or anywhere else. it helps me stay up to date. i appreciate it. thanks!
Our economy is currently being raped by these crooks in DC. And, nobody seems to understand the consequences except for Peter Schiff. Perhaps Peter should recommend the book, "Economics in One Lesson," by Henry Hazlitt, to these morally-challenged idiots.
How does he deal with these Keynesian Kool-aid drinking fuckheads!! I just want to jump through the screen and start punching these talking heads in the face! Thank you Peter Schiff for having the patience to deal with these idiots.
They will never admit it! Peter has been wright and trying to help and no one desire to listen, they think, they are better education or they just can kill they pride. Peter doesn't need to waste so much breath on these individual that doesn't care to listen.
Peter Schiff is right and they keep saying hes wrong LOL THEY WONT LET HIM FINISH WHAT HES SAYING and then always cut him short (what news network was that i don't recall but i would never trust them for truth in reporting)
The communist don't trust individuals and Free Markets... With No Individuals thinking on there own anymore, there Leaders are leading those that don't think on there own, over a Cliff to there death. Us here listening to Peter are thinking on our Own Freely, and we are Stepping out of this Line that is headed over a cliff because we know Death isn't a Good out come! Happy New Year! Money has blinded this Government!
I am so sick of this government of ours lying to us >>>how are we supposed to respect anyone in government doing what there doing. Paulson and bernake are just IDIOTS.
The problem is that the masses didn't give our government permission to do the bailouts, the printing, the spending, the deficits or any of that. Capitalism does work, what happened in the last 10 years is not capitalism, it's theft.
I will always go with the person who feels the need to back up his opinions by citing principles, so thank you Mr. Shiff, I'll get rid of my dollars right away.
My god, what fascism. At the end the gal says: thank you so much andy for fighting the good fight. What the hell is she talking about? How is being a shill for the banksters fighting the good fight? There was only one person there fighting the good fight and that was Peter Schiff. Too bad he only gets a few minutes every month or so. The rest of the time it's mostly pure nonstop Keynesian propaganda.
Unless some fanatics rise up to stop this problem, and they will be labeled fanatics because the rest of America thinks that government intervention is a wonderful thing, I will see you in the bread lines in a socialistic type country rather then America. Our Founders would rebel, but the people are too stupid now to see what is wrong about all this.
seems to me that peter is voicing a course of saving the economy and helping the ppl. those other tools are voicing the investor a holes need to make more money.
"For every thousand hacking at the leaves of evil, there is one hacking at the root."
- Henry David Thoreau
When I see that quote I always think of Peter Schiff, "hacking at the root". He's gotta feel like he's taking crazy pills sometimes, constantly refuting the misguided majority.
The "experts" are saying that some drug users got high and committed crimes. Peter believes that they should be punished (instead of bailed out), but we also need to arrest the drug dealer who supplied them.
The "experts" say that is out of the question because we all get our drugs from the same dealer. If we lock up the dealer, then nobody will be able to get high. They are addicts trying to protect their source, rather than going cold turkey.
lol the system needs reform but going cold turkey can kill a man. Some compromise is needed, schiff is right that usa has spent 20+ years ignoring debt
This is a fascinating study in the willfull blindness of people. Here's Peter, who predicted all these calamities, so he obviously has some handle on the situation, yet there's that buffoon of a host losing his composure and getting all red-faced while he tell's Peter the he (Peter) doesn't know what he's talking about. They have him on precisely because of his track record of prediction, then they completely disrespect what he has to say now. Amazing.
It's like they look for the stupidest people they can find to debate with Peter. No one I know is as clueless as virtually anyone who talks on these shows. Peter is so superior in understanding he's like a different species. Some of them are great at shouting though, it's like a shouting competition. Empty vessels make most noise?
If you want to follow all of the videos of PETER SCHIFF, JIM ROGERS, MARC FABER and RON PAUL I just always go to financialtruth0.blogspot . com because they upload all the videos there. Anyway thanks for posting!
That guy on the top left is playing his assinged role as the believer in government. It doesn't sound like he believes what he is saying. He knows Schiff is right.
Its amazing how even after their retirement monies have gone to pretty much zero, these morons still don't have a clue what the f**k is happening. No wonder US economy is going down the drain.
So what these "establishment" guys are trying to tell Peter (and us) is: the system is corrupt, it is infected with government cronyism and ineptitutde, and there is NOTHING that is going to change that so live with it.
Problem is, there will be no "living with it". Their reality is crumbling and will soon be in pieces on the floor. The corruption has already distroyed the future of our economy, and so they are wasting their breath defending it.
Right on. I sold ALL my dollar holdings during the recent "fake" dollar rally and moved to Asia - no more paying taxes to the incompetent lying thieves called the US Govt. That's how I am NOT "living with it".
That sounds nice but why did he totally ignore the fact recessions are tough on commodities? That foreign marekets get crushed. He is so single minded to the disaster scenerio that he misses the "proper groundings in the macro-economic sense" completely. He ignores in this case the very predictions his forecasts make for the markets which is just perverse. If he wants to push government to lay off he should run for office not manage money. The right long term move was to sell.
the companies that excessively levered were more profitable than those that didn't, so essentially competitors had to follow suit to compete. govt created the moral hazard with interest rates that manipulated the market.
by getting out of the way, allowing large corporations to go bankrupt... some rich people will buy up the leftover assets at fire sale prices and start doing business again...
One of these days, I'll get tired of hearing Peter Schiff say the same thing on every show he's on. I certainly agree with him, but we need to get this collapse going. I'm getting bored. Sounds terrible I know, but most people I know don't believe some of the other things We've been hearing about, such as false flag attack, and martial law.
I dunno... Schiff makes sense a lot of the times, but every so often I wonder to myself if
Schiff isn't like the broken watch which just happens to be right twice a day...
Schiff's analysis of the housing bubble is phenomenally on target when it comes to the description but the timing was 2-3 years too early. Furthermore, Schiff is NOT the only one to make such predictions.
It's ridiculous to call someone a broken clock just because they happen to be right.
Why don't you just call all of them broken clocks. They all are ridiculously positive about the economy except when its blatantly obvious that the economy is going down. Then when it is going down they are ridiculously optimistic about a recovery. And somehow you think Peter Schiff is a broken clock?
Its ridiculous. That is just a meme being spread to discredit him because they have no other way.
Schiff is most certianly the broken watch. This is why for investment/trading decisions he should never be followed. The correctness of his long term forecasts are meaningless in the near term. In this respect he is just like all other money managers. He got out of tech 5 years too early, real estate 4-5 years too early, and held over the top of the most recent commodity/foreign market top.
its easy to say he got out of the tech and real estate bubble too early in hindsight, but how many people had the foresight to get out before the crash? i'm sure there are a lot out there but many, many more lost big.
He interestingly got out of tech and real estate before they were even bubbles. Then he held the commodity bubble over the top. That is so strange. I think he is too single minded to act properly on his own forecasts.
Are you joking or something? This discussion is about long term decissions and their effects on economy that are ineviatable, not about whether you should invest with Europac.
Everybody knows that prediting short term market situation is extermely difficult, because it depends on so many factors and unpredicatable government interventions. If you call Peter broken watch then the others are probably watches smashed into pieces. I'd like to hear who is the correctly working watch in your opinion.
Yes, what Peter is talking about are inevitable consequences of the path the US is taking. This has been true for 50+ years with many up and down cycles. Each one being "the end." We are of course closer now that the bond market is in the climax of its bubble. I was agreeing with another poster that Peter is a broken watch. As for me, I am my own correctly working watch. I agree with Peter 100% but don't need to ride oil from $150 to $35 to prove it. He lost with all the other jokers this year.
it is only a loss if you sell oil and commodities will come roaring back very soon folks it is slowly happening now. the dollar is beginning to loose day by day. this will take time. we will look back a year from now and see. believe me Peter and Jim Rogers are correct. the worlds demand for raw materials is tremendous and when economies recover they will take off. you should be positioned now to take advantage of this rare opportunity. remember buy low!
Yes, I agree the time has come to begin sniffing out the plays from "stopped clock" Peter. This already happened months ago in gold stocks in fact since they got clobbered while gold did not.
But I must disagree with "it is only a loss if you sell." That is ridiculous. Anyone who bought and held any commodity but gold for the last few years now has a loss and it IS a loss. The long term uptrend has ended and must begin anew. Those who took long term profits can now but 3x as much.
Schiff is getting through. They can attempt to overwhelm, yet they cannot outclass. These talking heads offer no solid reasons for the actions they support or recommend. Schiff can justify every time and in depth.
not quite =\ an iPod won't preserve your money...but real assets like gold and stocks in sound companies will. If spending was the cure, then the government has that taken care of. As Peter says all the time, we need to produce stuff and export it.
Stocks aren't physical assets, so they are very prone to fiat currency devaluation and currency inflation. So, unless stocks are outside the USA and in non-USD, they are prone to losing lots of money.
Peter is the one fighting a good fight. The others are just clowns helping the tyrant murder the official loyal to his sovereign.
yjfoo81 2 years ago 3
This seems a little biased, it is four against one.
aamicfe86 2 years ago 4
I like the lady ends the heaty argument well
nghlmd 2 years ago
I <3 Schiff!
SpaceCadetRyan 3 years ago 2
One fundamental error: THERE IS NO SUCH THING AS A FREE MARKET. It's a fantasy, because somone will always take control. If it isn't a democratic, freely elected, properly constituted government, acting on behalf of free people, it will be corporate gangsters. Forget the fantasy of unregulated markets, and get some workable rules in place.
Snurdgerbly 3 years ago
Peter is making economics simple that even idiots can understand. then y r those fools still cant get it?
ortega911 3 years ago 6
Rebecca Jarvis is not an economist, she's just a hottie that came from the reality show, "The Apprentice." She has no financial background and is just a pretty face. That's besides the point. The media is bought and paid for by the same people who run the Federal Reserve and are told what to say. They are there to look good and deceive the public.
achalmers 3 years ago 3
When will we have someone asking peter to take the wheels. 06&07 we had some other maroons where r they now?
ortega911 3 years ago 3
one thing though, a lot of governments are doing this... basically all countries are going to be inflating their currencies... so maybe it's not only an american problem and that means relatively speaking, though the dollar might suffer, it might not be as bad as schiff is saying...
nyrangerfan1 3 years ago
Peter makes economics interesting. The guy is a rockstar. If government wasn't so corrupt, Peter would be in charge of the federal reserve instead of some NWO stooge like Bernanke who BTW is sending the old USA down the toilet.
freeyourmined 3 years ago 2
Obama should tap Peter ASAP to save the U.S. economy!
astoria3011 3 years ago 3
You do know that Obama is doing the exact opposite of what Schiff is recommending right?
MANofINACTION 3 years ago 6
Obama should resign for lying when he promised to protect the constitution when he voted on extending the patriot act.
l33t187 3 years ago 8
Impeach!!!!
Snurdgerbly 2 years ago 4
Peter has the same problem that Ayn Rand had: The inability to accept that most human beings don't behave rationally. He's right, but arguing what government should and shouldn't do, when it's OBVIOUS they ARE going to pursue the incorrect course of action, isn't very productive. Let's get some advice for us working stiffs who get paid in dollars.
caltrop69 3 years ago
To caltrop69: Apparently the obviousness of government failures isn't enough to convince 4 of the 5 investors there. Peter has an investment firm, if you care about what to do with your dollars then go there, of course that assumes you care more about your money rather than trashing Rand and Peter. Rand has in her writings been more than clear that man has not acted as rational as he should have for most of his history, but of course you would know that if you've read her.
Nemis071 3 years ago
They disagree with Peter because they have a "matter of opinion" view of science. I'm not trashing Rand or Peter. I was just pointing out that they both share, what I consider, an unreasonable optimism that most people are actually going to listen to reason. I would have given up a long time ago. I would have gone the direction of John Galt.
Sorry about getting back to you so late. My email's been dumping my youtube comments into it's spam bin.
caltrop69 2 years ago
PETER knows his stuff...the market is being manipulated by the the rich and powerful the GOV. created the Reinvestment act...they created fanny and freddy...they created subprime and option arms..they interfered and now we are where we are. plain and simple. they new the poor were gonna default on there home mortgage they new... most people are like pawns in the rich mans game.
marmolejomarc 3 years ago
HAHA "you have to face reality" so says the Pragmastist!
akinobjectivist 3 years ago
What a box of morons :/ Exept Peter of course.
taubstumm 3 years ago 2
Peter Schiff is so entertaining and informative!
He provokes a fight with the sleeping others, and wakes them up lol
Too bad I can't invest with him, as I'm not in the US.
trabuco007 3 years ago
How many times does Peter Schiff have to be right before people take any notice of him?
feverpitch82 3 years ago 5
Fuck the government.
BlackNapkins86 3 years ago 4
5:20 "It's not gonna be sunshine and lollipops..." :-) So damn true!
robert4you 3 years ago 4
Peter has been right for years and yet these MORONS are still arguing with him.
Americans are ignorant but the wake-up call is coming this year.
sunnfun 3 years ago 13
The common man doesn't think clearly on a full stomach.
hara001 3 years ago
gold will be 2000 this year ,No think about this ... the point is when?
I think after 8 to 9 months gold will be 2000$ for once.
totab3 3 years ago
Inflation at .18 over 10 years, do you think we could see a Japanese styled deflationary circumstance.
bryguyisfly 3 years ago
pundits are mental masterbators.
peter schiff gets no respect from them because he is right; because they are blind to the truth.
Diatonic135 3 years ago
Friend, we probably agree on almost 100% here. My only contention is that Friedman showed the GD was largely due to a contraction in the money supply. He was no big spending lib, either. But I'm pretty convinced a contraction in the money supply would be devastating now as it was then. However, I do disagree with the culture of moral hazard being imbued with these mass bailouts. It's so much that inflation is inevitable. But seriously, check Friedman's Nobel piece on the matter.
javery303 3 years ago
Why does everyone think a stimulus package created by Obama is going to save us all? If spending money on projects that have no ROI was a good idea, why doesn't the government just blow all types of money all the time? Then we could have a supposed 0% unemployment rate! And why? Because it doesn't work - and it won't work for Obama because he is going to focus on the kind of work and industry that has no future. Sadly that means leaving out entrepreneurs to 'spread it out'. Good job voters.
goingwithzed 3 years ago 3
I agree with Peter on much of this except for the part about the money supply. Milton Friedman showed, and won the Nobel in Economics for this, that much of the blame for the Depression was due to a shrinkage in the money supply.
Otherwise, Peter is right on.
javery303 3 years ago
That's like blaming a hangover on the stopping of drinking. If only they could have kept drinking for ever and and ever, then they would never get a hangover, right?
GaryVolts 3 years ago
I think Peter is the only one who has the balls to say that he has no faith in the governments. He's 100% right.
smasila 3 years ago 4
More transparancy, not regulation!
Masterroxorz 3 years ago 2
It's all speculation. Dollars aren't flooding the market. The pricing hasn't adjusted for true deflation yet. so you have a crash in real estate and stocks, an economic slowdown, and high unemployment...and somehow these guys think inflation. Idiots. This guy is going to be left with a shed full of shiny metal.
Atombombmother 3 years ago
Interesting discussion. I think Andy agreed with Peter, but was just trying to make the point that the misguided government is going to do something, and hopefully it can be guided to do the least possible damage.
Lots of agreement with Schiff. The older dude (missed name) gave the standard "FDR saved us" view of the depression. Great to see the 2 accounts of history come face to face.
GaryVolts 3 years ago
Schopenhauer's stages of truth:
1. it is ridiculed
2. it is violently opposed (now)
3. it is self evident
sandman4224 3 years ago 5
i cant believe that now they allow to so openly bash fed on tv. i guess things have changed. unfortunatelly it is a bit late.
rumburak 3 years ago
you think this is bashing the Fed?
Check out max keiser saying that Hank Paulson's head should be rolling down capital hill :P
He uses the term "financial terrorists" several times. Of course, that's france media, and it's pretty different than western.
Claytrainor 3 years ago
Hilarious to see Tyler Matteson blow a gasket. Yuk Yuk Yuk
ironweed451 3 years ago
He said, "Let me tell you how this should work"
jusblaze99 3 years ago
I'm pretty sure they treated him the same way (like an idiot outcast) a year ago when he predicted this economic situation...
Lets see what they say when he is right again.
nubraskan 3 years ago
Peter totally butt fucked that guy at the end about Greenspan and the Federal Reserve. Peter Schiff FTW!
Aristotle100 3 years ago 5
I guess thats how the s_ _ _ plan works.
1tubedout 3 years ago
does he say "let me tell you how this shit works" at 6:46? LOL.
b1muas22 3 years ago
Ya he did say that, I just checked. Too funny.
GaryVolts 3 years ago
that fucking hoe cut him off. No worried. Peter has been right for years. If I was a betting man, I'd put all my money on his words.
ahset 3 years ago 2
What we need in this country is less government intervention in the economy but tighter government regulation in the market and corporate activity.
omarm1984 3 years ago
I think that capitalism and the application of interest is a rationalisation of slavery.
Regulation on the other hand is the false-flag solution to ease the public into believing that something is going to change for the better. Of course it can't. We're marching straight into a period of re-feudalisation of our society.
For my part, I don't want to be either a slave nor a slaveholder nor a guy living an illusion.
didn't your founding fathers say that all men are created equal?
grubernick 3 years ago
Capitalism is the best ecnomic system known to man. Its not perfect but its the least damaging to our society and the best for propsperity.
omarm1984 3 years ago
Which type of capitalism? Government capitalism or free market capitalism.
edingsteve1 3 years ago
There is only one type of capitalism, free market. The fact that gov't tends to mix capitalism with socialism does not mean that there are different types of capitalism. Just that there are confused governments.
omarm1984 3 years ago 2
there is a difference between free market and "free market"..one is truly free market with police folks working and capturing the bad guys, and the is another free market that steals, butchers, creates wars and get away with it.. so let's have regulators that prevent this and not the other.. but we all know that is impossible 4 a simple reason called corruption.. so free market does work, but you have to be a inteligent person, something 99% of people around the world are not..
Sarasu23 3 years ago
You guys don't get it--we want most people to "not get it", because as a contrarian, I want to be on the other side of the consensus, especially if that consensus (CNBC) is stupid. Too many gold bugs scares me if I'm long gold, which I am.
I agree Schiff is spot on, but his timing could be better.
dakyne62 3 years ago
Exactly. If there is such certainty that gold will soar in the near future, why is it not making new highs righ now? Is the market that stupid?
omarm1984 3 years ago
Gold is at new highs in all other currencies except for the yen and the dollar. That soon will change as the dollar plunges and the yen becomes "unpegged". Give it time it will happen maybe 18-24 months, fiat currency always fails. Always.
lintburger 3 years ago 2
Capitalism won't work in this country as long as AFL CIO, the AFT (American Federation of TEachers) and the ACLU is still as powerful as they are. These organizations stifle growth and competition in any field leading to mediocrity... look at our schools and our industry. Nobody wants to buy from us, not even us. Moreover our kids are stupid, thanks to the ACLU (leave my child alone, if he/she wants to act up in class, let them) and the teacher unions (some NOT ALL teachers are lazy)
thepassionateteacher 3 years ago
Peter has been right so far... but I don't get it ...."poof" demand is going to return not in America, but abroad. ... My Asian friends say China is having a very hard time.
thepassionateteacher 3 years ago
Peter has never said overseas economies will recover overnight. He's saying the US economy will not recover any time soon (because of govt interventions...collapse of dollar) and other nations will recover once they dump us...because they have surpluses, savings, productivity (not service economies) and citizenries that live beneath their means. The world will continue to eat and use commodities...whose fundamentals are unimpaired...and gold will rally as our currency resumes its plummet.
seanannapolis 3 years ago
peter is so awesome! Even i(stupid) can get it when he explains it.
justgetsome 3 years ago 2
you know its true because no one can heat their homes currently just like he said 6 months ago.
automaticAEV 3 years ago
at 8:49 the old guy says... "but you're tilting against a windmill that is no longer on the playing field."
What does that even mean???
IzaaqMicro 3 years ago
whos the clown at the top left..clueless..what was he doing on the show?..
littlejoy67 3 years ago
Tyler saying the government didnt cause these investment banks to lever 40 to 1???? The govt did so!!!!! They bailed out long term capital management and the word on the street was fannie and freddie would be bailed out if anything ever went wrong. So of course these banks are going to leverage up like crazy. If the govt wasnt their to bail them out they would of never leveraged that much!! Tyler you are so wrong and peter is so right! Govt does nothing right ever and just makes things worse
30percentplusreturns 3 years ago
This should add perspective to Tyler Matheson screaming at Peter Schiff that he has no idea what he is talking about.
For the past few years Peter was warning about the credit bubble created by the FED & the damage it would cause in this country.
For the past few years Tyler Matheson hosted a CNBC show called "High Net Worth" which profiled the lifestyles of people who enriched themselves while bankrupting the country.
Peter - Prophet & Patriot
Tyler - no talent ass clown
thkdq13 3 years ago
Tyler Matheson tells lies!!!..CNBC people good actors...
jimmiejets 3 years ago
CNBC people are just trying to protect their own wallets by making Peter look absurd. Typical news media outlet. The newscasters on this station get paid quite well to persuade us people that government is good. But the Americans know that GOVERNMENT SUCKS!
mrbrunelle 3 years ago 3
I suggest buying a gun, growing a garden, raising chickens, and get outa debt. There is a shitstorm coming
WHEREtheFUNK 3 years ago 3
Peter is almost right...there is no "free market". How is it free if Rotschield has trillions and trillions of dollars (or euros, or whatever) to corrupt all the politicians in the world? So, Rotschield can start a WW3 tomorrow, using just a little bit of his money. There is no "free" market.
Mirjana7 3 years ago
This is the kind of environment I like seeing Peter in; open minded, realistic, and stimulating. Almost every other show he's on ridicules him. This was a much better platform for him to get his message across.
gitterfritter 3 years ago
They weren't open minded, they just understood they were wrong but chose to embrace the evil rather than stand up against it.
Richandler 3 years ago
Peter Schiff just beat down these fools. What hacks.
djsherin 3 years ago 2
I propose that anyone who confuses people by those "quantitative easing" or "liquidity injection" terms, rather than just saying plain truth: printing money out of thin air and debasing money supply, should be sued. If you agree, pls press thumbs up.
sinitskyd 3 years ago 22
oops sry, I meant to give you a thumbs up, hope someone fixes that.
GeminiK 3 years ago
Yeah, the lady is hot! Too bad I am already happily married.
sinitskyd 3 years ago
"peter its over thats it its an opinion"
you cant obviously tell someone there opinion is wrong can you?
Dkouts57 3 years ago
Why not? If it's someone's opinion that the world is flat, they would be wrong, no matter how they interpret the info that builds their opinion.
Hope that helps.
frwlbrng 3 years ago
supply of commodities is in excess at present.
shortage will be there for Industrial commodities like spares,forges,tyres,becoz every factory is being locked out
very difficult to say what will be left standing after a hurricane hits you.peter is probably the one who is inside the house while rest are jumping into the sea for surfing.
madhuradi 3 years ago
leave a nation to rut for 10 years all economic problems will be solved
tell me what was left to be solved in 1939 other than huge liabilities of the govt.
everything would have been sorted if people were allowed to sort it on their own.
but nobody seems to see social causes of depression.
people investing big in stocks in 1929 were big aristocrats.same thing happened.people toiled hard,bought govt bonds during the war and bailed all the rich people out.
Ring a bell,who's getting bailouts now?
madhuradi 3 years ago 2
peter is making these other analyists look like children.
DevBlazed 3 years ago 3
I have been following PS (and other Gold Bugs) for sometime. Yes he has correctly predicted this depression, and his analogies on macroeconomic are sound. But the fact that he did not anticipate the collapse of the foreign stock markets and commodities, and the recent rise of the dollar tells me that his overly bearish view on the US has falsely affected his buy-and-hold investment strategy. People who invested following his advice one or two years ago would be down at least 50%.
nemnaisa 3 years ago
But they are still getting dividends off those stocks which are apparently paying well. His client's portfolios were down 50%, but that doesn't matter since selling them was never the plan. The plan was to hold them long term and make money off the dividends.
Protonz 3 years ago 2
Which is a very ideal way to make money. You only lose money if you take it out at a lower price.
Richandler 3 years ago
It's a only a matter of time before the dollar collapses. Trillions of dollars are being created. When the stock market jumps up over the next year the dollar will correlate in the opposite direction. It won't matter what shape the foreign stocks will be in because holding the other currency alone will make them worth more.
Richandler 3 years ago
the stock market is a ponzi scheme anyway sheesh, the entire stock exchange is a zero sum game where LOSERS are required for there to be winners, like a Poker game.. The stock market doesn't "create" wealth, it only redistributes it
lonewolf1369 3 years ago
no it is not. It allows everyone to invest money in companies that they think will do well. So it allocates money to be put into use by companies.
If the money was just sitting there, then I could agree, but nahhh
Elasaltaculos 3 years ago
someone please tell me this chick's name!
TheFlex21 3 years ago
What I love about Peter is that his economic philosophy is totally back to basics, and he's dead right on everything. Unfortunately, for him (and us), his ideas are politically untenable. So basically, we are doomed to many years of stagflation because we live in a democracy and Americans are not bright enough and brave enough to let the free markets get us out of this mess.
amk212 3 years ago 4
"we are doomed to many years of stagflation because we live in a democracy and Americans are not bright enough and brave enough to let the free markets get us out of this mess."
well said.
the people deserve the government they allow.
tmac9938 3 years ago 2
It's funny that guy who was saying I agree but we have to face reality. It's kinda like knowing you're going lose a war, so why not just join the other side. Sad.
Richandler 3 years ago 2
My money is on peter, he's always right on this issue
excessivered 3 years ago 2
Buy hard assets with low interest borrowed money
Pay back with inflated dollars.
This is the chance to expand ownership on the back of the declining dollar.
Sator8 3 years ago
You are assuming that one has a job to pay back with inflated dollars.
nemnaisa 3 years ago
Lets imagine the purchasing power of the dollar is crippled during a hyper-inflationary scenario. Precious metals prices skyrocket. One doesn't need a job to sell some physical metal for ridiculous amounts of dollars to meet their monthly payment requirements.
drcloak 3 years ago
LoL
nemnaisa,
Beg, Borrow or Steal.... and Growing food for local consumption will be a good bet.
Sator8 3 years ago
glad that my income is in euros. i have already refinanced all my credits in dollars and planning to borrow more of those worthless papers
maartinjsh86 3 years ago
"Andy, thank you so much for fighting the good fight". What good fight? The fight for total government control? What a revealing way she ended that discussion. Peter, please keep it up! I'm learning so much!
IVERSONFAN07 3 years ago 2
they all agree on its coming. so what is it?
wowwooter 3 years ago
....... Peter is the only one that's going to stay rich, the rest of the panel will be flat broke.
a7green 3 years ago 3
Greenspan and the Fed are not really part of the government. What interest does the Fed have in economic growth? Once in a while they go in front of congress and talk, that's it. Federal Reserve stock pays 6%, whether the economy grows or not. They really work for the banks they represent, so Peter Schiff is wrong to say that the government interfered with low interest rates.
tooomp 3 years ago
"What interest does the Fed have in economic growth?"
Unfortunately, since they've deviated from their original mandate of price stability and are acting in Wall St.'s interests, they have a lot of interest in economic growth. It's the reason they lower interest rates so drastically when things are getting bad, to stave off a recession. And it ends up maintaining imbalances in the economy and the liquidity they pump into the market blows up another bubble. Kicking the can down the road.
novawolverine 3 years ago
The point I was making is that they still have their appointments and the Federal Reserve Stock always pays 6% dividends to member banks. It's gotta be tough appearing before congress, but it's not like anyone is going to lose their job over this. Bernanke stated in summer 2007 that he did not want to reward(lower rates) those responsible for the bad debt(ARMs etc.) We are all paying for his decision. How many Federal Reserve Banks were actually in on these transactions to begin with?
tooomp 3 years ago
How can a dumb ass like me understand where Peter is coming from? Yet these "educated" professionals dont have a clue.
If we all cant agree on our history, we will continue to be uncertain of the future.
vdubs4life1964 3 years ago 5
hey phil. thanks for collecting these clips. i'm from australia and don't get this stuff on tv or anywhere else. it helps me stay up to date. i appreciate it. thanks!
yeloveit 3 years ago
Schiff is right on; these other pundits just don't have the intellectual firepower to deal with his arguments.
cbellison 3 years ago
$ :>(
JABBERWOCKY2DAY 3 years ago
can anyone tell me a good way to buy shares(for instance oil or shares in asia) ive heard of e-trade and fidelity but im not sure how they work
NicosMind 3 years ago
look up peter schiff invesment co. on google...good waytogo
AmericanValues321 3 years ago
Our economy is currently being raped by these crooks in DC. And, nobody seems to understand the consequences except for Peter Schiff. Perhaps Peter should recommend the book, "Economics in One Lesson," by Henry Hazlitt, to these morally-challenged idiots.
late4420 3 years ago 2
They all admit he was right before, yet none of them admit he is right now. Hilarious.
KlllerMike 3 years ago 5
How does he deal with these Keynesian Kool-aid drinking fuckheads!! I just want to jump through the screen and start punching these talking heads in the face! Thank you Peter Schiff for having the patience to deal with these idiots.
pj1681 3 years ago 7
They will never admit it! Peter has been wright and trying to help and no one desire to listen, they think, they are better education or they just can kill they pride. Peter doesn't need to waste so much breath on these individual that doesn't care to listen.
sungmee45 3 years ago 4
Peter Schiff for Senate 2010!
anti0918 3 years ago
Budvb you have it right :)
yourmomscalling 3 years ago
Peter Schiff is right and they keep saying hes wrong LOL THEY WONT LET HIM FINISH WHAT HES SAYING and then always cut him short (what news network was that i don't recall but i would never trust them for truth in reporting)
yourmomscalling 3 years ago
The communist don't trust individuals and Free Markets... With No Individuals thinking on there own anymore, there Leaders are leading those that don't think on there own, over a Cliff to there death. Us here listening to Peter are thinking on our Own Freely, and we are Stepping out of this Line that is headed over a cliff because we know Death isn't a Good out come! Happy New Year! Money has blinded this Government!
Budvb 3 years ago
is peter a jew? Just curious.
jrabsig84 3 years ago
dunno don't care atleast he isn't out trying to destroy his Neighbor!
Budvb 3 years ago
dunno? Then don't fucking respond.
jrabsig84 3 years ago
I am so sick of this government of ours lying to us >>>how are we supposed to respect anyone in government doing what there doing. Paulson and bernake are just IDIOTS.
END THE FED
yourmomscalling 3 years ago
okay anchors,understand .
have to keep your jobs now
just keep singing,
baloney ....yeah! Uncle Sam Baloney
Thanx.I was looking for a good last name.
madhuradi 3 years ago
over 90% of the people did not want the bailout...???? Yet it was passed...Just like the Federal Reserve act in 1913....
Kblues80 3 years ago 3
The problem is that the masses didn't give our government permission to do the bailouts, the printing, the spending, the deficits or any of that. Capitalism does work, what happened in the last 10 years is not capitalism, it's theft.
therealcaptobvious 3 years ago 6
I will always go with the person who feels the need to back up his opinions by citing principles, so thank you Mr. Shiff, I'll get rid of my dollars right away.
deinse81 3 years ago 3
This country is about to pop. It's not going to be pretty.
quietdisdain 3 years ago 2
My god, what fascism. At the end the gal says: thank you so much andy for fighting the good fight. What the hell is she talking about? How is being a shill for the banksters fighting the good fight? There was only one person there fighting the good fight and that was Peter Schiff. Too bad he only gets a few minutes every month or so. The rest of the time it's mostly pure nonstop Keynesian propaganda.
Lichtschild 3 years ago 3
welcome to United states of CEOs.
we regret the presence of rest of the scum.
welcome to New Dork sir.
madhuradi 3 years ago
Unless some fanatics rise up to stop this problem, and they will be labeled fanatics because the rest of America thinks that government intervention is a wonderful thing, I will see you in the bread lines in a socialistic type country rather then America. Our Founders would rebel, but the people are too stupid now to see what is wrong about all this.
skitsofrantic 3 years ago
seems to me that peter is voicing a course of saving the economy and helping the ppl. those other tools are voicing the investor a holes need to make more money.
evcrawfish 3 years ago
"For every thousand hacking at the leaves of evil, there is one hacking at the root."
- Henry David Thoreau
When I see that quote I always think of Peter Schiff, "hacking at the root". He's gotta feel like he's taking crazy pills sometimes, constantly refuting the misguided majority.
justingaylor 3 years ago 8
Here's an analogy for you:
The "experts" are saying that some drug users got high and committed crimes. Peter believes that they should be punished (instead of bailed out), but we also need to arrest the drug dealer who supplied them.
The "experts" say that is out of the question because we all get our drugs from the same dealer. If we lock up the dealer, then nobody will be able to get high. They are addicts trying to protect their source, rather than going cold turkey.
jokertim777 3 years ago
lol the system needs reform but going cold turkey can kill a man. Some compromise is needed, schiff is right that usa has spent 20+ years ignoring debt
ricochetVendetta 3 years ago 2
This is a fascinating study in the willfull blindness of people. Here's Peter, who predicted all these calamities, so he obviously has some handle on the situation, yet there's that buffoon of a host losing his composure and getting all red-faced while he tell's Peter the he (Peter) doesn't know what he's talking about. They have him on precisely because of his track record of prediction, then they completely disrespect what he has to say now. Amazing.
scratchman287 3 years ago 3
Wow, listening to Peter is like listening to 911 truth stuff, you just can't understand the people that don't get it.
overlordsshadow 3 years ago
It's like they look for the stupidest people they can find to debate with Peter. No one I know is as clueless as virtually anyone who talks on these shows. Peter is so superior in understanding he's like a different species. Some of them are great at shouting though, it's like a shouting competition. Empty vessels make most noise?
VincesVinyl 3 years ago
Schiff is awesome. These other guys are such tools haha.
boethius27 3 years ago 3
MSNBC= AN ARMY OF MORONS + Peter
Armando7654 3 years ago
Sounds like Project F. (Atlas Shrugged)
Schiff, please work for us! You can command the economy. You can do anything you want.
Schiff: I do not want to control the economy. Just free the market.
We can't do that! You can do anything but that!
dlix 3 years ago
If you want to follow all of the videos of PETER SCHIFF, JIM ROGERS, MARC FABER and RON PAUL I just always go to financialtruth0.blogspot . com because they upload all the videos there. Anyway thanks for posting!
Justbeatit999 3 years ago
That guy on the top left is playing his assinged role as the believer in government. It doesn't sound like he believes what he is saying. He knows Schiff is right.
abot5508 3 years ago
Peter-OWNAGE!!:)
(Yes, it's like watching a football game)
JonasAbrahamLind 3 years ago 2
Its amazing how even after their retirement monies have gone to pretty much zero, these morons still don't have a clue what the f**k is happening. No wonder US economy is going down the drain.
experimentsingeekdom 3 years ago
School these brain-dead morons Peter!
experimentsingeekdom 3 years ago 2
So what these "establishment" guys are trying to tell Peter (and us) is: the system is corrupt, it is infected with government cronyism and ineptitutde, and there is NOTHING that is going to change that so live with it.
Problem is, there will be no "living with it". Their reality is crumbling and will soon be in pieces on the floor. The corruption has already distroyed the future of our economy, and so they are wasting their breath defending it.
TheRedPriestofVenice 3 years ago
Right on. I sold ALL my dollar holdings during the recent "fake" dollar rally and moved to Asia - no more paying taxes to the incompetent lying thieves called the US Govt. That's how I am NOT "living with it".
experimentsingeekdom 3 years ago 2
Peter Is right on more than all these guys put together.
ryancsmith2003 3 years ago
Yes, this is true. It is time to start listening to Peter again. haha.
"intra-asian demand".... this has got to be the most overlooked concept to arrogant Americans.
LibertyOrBust 3 years ago 2
Peter Kicks ass.All the time. No lies can stand in front of truth.Peter go ahead brother spread the truth.
SouthFacedWindows 3 years ago 2
That sounds nice but why did he totally ignore the fact recessions are tough on commodities? That foreign marekets get crushed. He is so single minded to the disaster scenerio that he misses the "proper groundings in the macro-economic sense" completely. He ignores in this case the very predictions his forecasts make for the markets which is just perverse. If he wants to push government to lay off he should run for office not manage money. The right long term move was to sell.
LibertyOrBust 3 years ago
"It's not gonna be... you know... sunshine and lollypops."
Hahahahaha. I know he's predicting doom, but he sure knows how to phrase it.
I heard him say "camel's nose under the tent" in another clip. Awesome.
MooseOfReason 3 years ago
Schiff is *WRONG* on this point:
Somebody poured alcohol, you drink it and you blame the guy pouring it? BULLSHIT.
The anchor is correct. No one told these people to leverage that much.
jbperez808 3 years ago
the companies that excessively levered were more profitable than those that didn't, so essentially competitors had to follow suit to compete. govt created the moral hazard with interest rates that manipulated the market.
shroomingnewman 3 years ago 3
The analogy Schiff has used in the past is one of spiking a drink
lodge939 3 years ago
One of the better Schiff videos. He was all over it. Classic.
Paulintheoh8 3 years ago
So the question begs: 'How can the government stimulate the economy without creating more debt?'
elboertjie 3 years ago
by getting out of the way, allowing large corporations to go bankrupt... some rich people will buy up the leftover assets at fire sale prices and start doing business again...
capitalism
lidixmang 3 years ago
CNBC who runs the show with Jim Cramer. Nuff said.
stewart0312 3 years ago
Its an opinion alright Sir, but it is just as worthless as your govt handling of the situation and the dollar that will result out of it.
utubehayter 3 years ago
One of these days, I'll get tired of hearing Peter Schiff say the same thing on every show he's on. I certainly agree with him, but we need to get this collapse going. I'm getting bored. Sounds terrible I know, but most people I know don't believe some of the other things We've been hearing about, such as false flag attack, and martial law.
psxwarrior 3 years ago 2
I dunno... Schiff makes sense a lot of the times, but every so often I wonder to myself if
Schiff isn't like the broken watch which just happens to be right twice a day...
Schiff's analysis of the housing bubble is phenomenally on target when it comes to the description but the timing was 2-3 years too early. Furthermore, Schiff is NOT the only one to make such predictions.
jbperez808 3 years ago
jbperez808:
It's ridiculous to call someone a broken clock just because they happen to be right.
Why don't you just call all of them broken clocks. They all are ridiculously positive about the economy except when its blatantly obvious that the economy is going down. Then when it is going down they are ridiculously optimistic about a recovery. And somehow you think Peter Schiff is a broken clock?
Its ridiculous. That is just a meme being spread to discredit him because they have no other way.
evan13579b 3 years ago
Schiff is most certianly the broken watch. This is why for investment/trading decisions he should never be followed. The correctness of his long term forecasts are meaningless in the near term. In this respect he is just like all other money managers. He got out of tech 5 years too early, real estate 4-5 years too early, and held over the top of the most recent commodity/foreign market top.
LibertyOrBust 3 years ago
its easy to say he got out of the tech and real estate bubble too early in hindsight, but how many people had the foresight to get out before the crash? i'm sure there are a lot out there but many, many more lost big.
shroomingnewman 3 years ago
He interestingly got out of tech and real estate before they were even bubbles. Then he held the commodity bubble over the top. That is so strange. I think he is too single minded to act properly on his own forecasts.
LibertyOrBust 3 years ago
Are you joking or something? This discussion is about long term decissions and their effects on economy that are ineviatable, not about whether you should invest with Europac.
Everybody knows that prediting short term market situation is extermely difficult, because it depends on so many factors and unpredicatable government interventions. If you call Peter broken watch then the others are probably watches smashed into pieces. I'd like to hear who is the correctly working watch in your opinion.
MushroomCloud666 3 years ago
Yes, what Peter is talking about are inevitable consequences of the path the US is taking. This has been true for 50+ years with many up and down cycles. Each one being "the end." We are of course closer now that the bond market is in the climax of its bubble. I was agreeing with another poster that Peter is a broken watch. As for me, I am my own correctly working watch. I agree with Peter 100% but don't need to ride oil from $150 to $35 to prove it. He lost with all the other jokers this year.
LibertyOrBust 3 years ago
it is only a loss if you sell oil and commodities will come roaring back very soon folks it is slowly happening now. the dollar is beginning to loose day by day. this will take time. we will look back a year from now and see. believe me Peter and Jim Rogers are correct. the worlds demand for raw materials is tremendous and when economies recover they will take off. you should be positioned now to take advantage of this rare opportunity. remember buy low!
rstora01 3 years ago
Yes, I agree the time has come to begin sniffing out the plays from "stopped clock" Peter. This already happened months ago in gold stocks in fact since they got clobbered while gold did not.
But I must disagree with "it is only a loss if you sell." That is ridiculous. Anyone who bought and held any commodity but gold for the last few years now has a loss and it IS a loss. The long term uptrend has ended and must begin anew. Those who took long term profits can now but 3x as much.
LibertyOrBust 3 years ago
Schiff is getting through. They can attempt to overwhelm, yet they cannot outclass. These talking heads offer no solid reasons for the actions they support or recommend. Schiff can justify every time and in depth.
InTheSticks1881 3 years ago
so, whoever has a lot of saving in the banks, you better spend it now and save the economy~
mkh12152006 3 years ago
not quite =\ an iPod won't preserve your money...but real assets like gold and stocks in sound companies will. If spending was the cure, then the government has that taken care of. As Peter says all the time, we need to produce stuff and export it.
turdsplatter 3 years ago
Stocks aren't physical assets, so they are very prone to fiat currency devaluation and currency inflation. So, unless stocks are outside the USA and in non-USD, they are prone to losing lots of money.
elboertjie 3 years ago