Peter Schiff Tries to Explain Coming Dollar Crash

[casper1918]

I like Peter, but he really missed it on the bond bubble. Had I bought bond fund two years ago would have had over a 20% increase per year.

[TheOkham]

@casper1918 Peter Schiff is like the proverbial broken clock. Don't listen to this crook.

Try to find his recommendations for 2011 and see well he did.

[MrGiggity890]

@TheOkham crook? crooks are propping up the dollar...schiff will be right in the end

[MrGiggity890]

@casper1918 how long you staying in? and if you had been in gold you would have made more

[casper1918]

@MrGiggity890 Sold most of my gold, made a little profit, but the bond funds I own are up 20% this year. I think bonds are good through the rest of this year. You know Bernake is going to do another QE to help out his buddy Barrack before the election. FED will keep buying bonds till then. After that...........back to gold.

[MrGiggity890]

@casper1918 good for you man...you got the right attitude..stay vigilant with your money, ya know?

[TIGERSDFW]

i must say, it was a joy listening to this interview..

[JordanBourne1]

I would have Peter Schiff's baby and I'm a man. It must hurt to always be right.

[pigdog069]

WOW! Peter Schiff in 2009.. This says it all.. hind sight 20/20.

Government, banks and coruption go hand in hand. Fight to keep the internet

free of control, it is our last chance to awaken the sheeple...

[Riaswift]

I love how when people don't understand something they try to make the guy who is telling them the thing they don't understand wrong. When u find someone smarter than u instead of trying to prove you know something...just be quiet and listen.

[UnitedCorpOfAmerica]

News flash! God gives all the power elites a cerebral stroke. They are left alive and are all in diapers as they drool in state run nursing homes cared for by fat disgruntled nurses. Economy booms as equality soars.

I can dream, can't I?

[bykashka75]

PETER YOU NAILED IT, GRET INTERVIEW

[Cypherdude1]

@100silverpizza Is that your analysis of the US economy? What is your solution then, a pair of scissors?

MUHAHAHAHAHA!!!

[hgrgic]

The solution is simple (in principle). We should all start producing something and sell it to China and Asia.

The question here is what can we sell to them? And who is gonna do it when western companies just look to outsource real production to cheaper and cheaper labour?

[Theocrasuck]

@hgrgic The problem is most countries are tightening. Which is obvioussly causing fiscal contraction. Those countries that over import i.e the U.S need to move toward production and those that over export i.e. China need to start buying our shit. China is quickly doing it's part they are producing more millionaires per capita than any other country ( I think)

[Theocrasuck]

IT's HYPERINFLATION!!! ZOMG! What a fucking idiot.

[MrLukedanger]

@Theocrasuck and devaluation, dollar is devaluing and the goods are going up

[Theocrasuck]

@MrLukedanger So, you seriously think the cost of goods is due to quantatative easing that hasn't (eased ). Due to being at or near the zero lower bound hyperinflation is IMPOSSIBLE. Cost of goods? google =price of crude. We are more likely to be smacked by deflation.... RTFM you are doing it wrong

[MrLukedanger]

@Theocrasuck the cost of goods is from inflation, and the devaluation of the dollar is due to the gold standard and the fact all that dollars are getting printed at record rates is another large factor.

[watchthewarnings]

America Under Siege - Revelations (On Facebook) - This country is in such dire straits...inflation is on the rise, we continue to shed jobs, Household debt is at its highest, factories continue to shut down with our manufacturing heading overseas and since the Federal Reserve was created in 1913 - the value of the dollar has dropped by nearly 95%. We need to stop our government now!!

[aviomaster]

Peter Shiff is wright 100% There is no doubt about that, He would fix the economy but standard of living for Amercans would drop 40 -50 % imagine making 2000 $ a month and than situation changes and now you are making 1200 $ or 1000 $ if you are employed.

That would send even bigger shock wave cause Americans were not used to this kind of living.

[oldhank2003]

It IS happening. This dude tells the true nature that motivates "democracy". That is Y they feel justified in invading 3rd world countries. ( rape &pillage 4 democracy). They call themselves a higher society. But, its an illusion. The honkies are only succeeding at turning the globe into a desolate wasteland. & to top it all off.... thats been their since their pail faces first appeared. )way 2 go genius's)

[ve3tru]

Get America working, how exactly when you compete with slave labor polluting china. We need a new economic model, based on exports, then see where your at and why.

[blkhat117]

that guy has a funny stash lol but peter is right the bond bubble is going to pop causing a downward spiral that will debase the dollar.

[bellcord]

Well it's 20 months later and the Dollar's hasn't collasped ..point of fact the rest of the world rushed here for safety....and if you'd invested with Schiff's firm you'd lost 40% of your investment...past time to spit Peter's peter out of your mouth I'd say..

[somekidfromtexas]

@bellcord it's 11 months after your comment and Schiff is still right. If you had followed his advice and bold gold when this video was released for $927 if would of be worth $1635 today...

[Baidenger]

Das ist ein ehrlicher, aufrichtiger Mensch, der auch noch was von dem, was er erzählt versteht!

It ist not a problem of knowlledge but of power. :( now doubt.. there will be inflation so go an buy some gold companies^^

[sparky41684]

we need a civil war

[paulojleite]

The people is always willing to believe in the magic, easiest, less painfull miracles to save them.

As soon as you start to say "america needs to work and save more" people get angry and tend to vote contraryly.

[anthonymellado]

I just don't understand how people don't get what Peter is saying. It's so elementary that a child could understand it! At this point I've come to the conclusion that 1/2 of Americans are very ignorant and the other 1/2 is so smart they made a full circle and are back to the ignorant stage again. The Bible does say the the wisdom of man is foolishness to God.  Boy are we proving that point!

[66chevyo]

@anthonymellado I think your right......except about the bible part.......I don't get why people haven't figured out that of religion is completely absurd. I guess people believe whatever makes them feel good. Maybe the key to rulers' success is the large percentage of unfocused, unassertive, insecure, blindly conforming individuals that make up our species.

[KEVRO]

@66chevyo to be honest, i think over 60% of religious people dont really, deep down, believe that most of their religion isnt true, however, they use the religion of their choice for...faith. faith is a powerful thing, but believing in everything the bible says is a bit out there.

[66chevyo]

@KEVRO Good thing we can question religion without getting stoned to death or burned at the stake. Religion is a MYTH. 80% of people are obedient to authority and will do almost anything they are told to do. 80% won't assert their own personal and moral authority. They just do what they're told, even if it's DEAD WRONG!!! You've got "GOD". He's vengeful and he sacrifices people for the "greater good". If the people accept that kind or authoritative eternal oppression, Government has it made.

[66chevyo]

@KEVRO Some people pick and choose what they want to believe. They pick parts out of the bible that feel good to them. Then they discount the rest. They will say things like "I'm not religious, I'm spiritual. I believe in a higher power". Then they'll thumb through their bible. It's amazing.

[dpdvatika]

@anthonymellado you can be serious? if you are, gawd help you...

[cosmo44227]

I love that he calls it what it is... a giant ponzi scheme. I hope that he wins his a seat in the Senate next Nov.

[U3X6785]

Why is this guy not in charge of the Fed?

[cosmo44227]

Because he's not from Goldman Sachs. It's a prerequisite for the job these days.

[PeteMisener]

Along these terms...Jim Rodgers once said, I would abolish the Federal Reserve and then I would resign,

[goodguy1964]

Better question is:  Why haven't we destroyed the Fed yet?

[kggoh]

because US gov want the Fed to be there. at least if anything happen, Feb will take the blame. Since it is private.

[Staff7]

I believe that peter has a point .

however I think he makes a mistake thinking that

more more businesses will help the economy without regulation . no regulation and lack of control induavdually is what got us in this problem in the first place .

[shaider77]

Yep, like I said, its time for the US to go back to the eco-friendly cow dung standard. Lol.

[joestrummer2007]

You're right... I've watched Peter Schiff explain this to 100 different people 100 different times 100 different ways... How is it that nobody understands basic economics? It seems like it just flies over there heads.

[MissNevada08]

Exactly. And all these reporters treat him like he is a joke....WTF? He is Chicken Little...and when the sky is falling...maybe our journalists will show him more respect.

[SENTRY000]

The best 6 minutes I've ever watched on youtube.

[hobieslug45]

quote from russian worker just before the ussr colapse "we pretend to work and they pretend to pay us"

[aviomaster]

-- Peter Understands this thing , to detail ,,, He seems like JEsus , for the economy .

[ulysseinvest]

And when did Jesus run for the gov? Peter is brilliant - but all those who think that he's running for Senate just for the pleasure of discussing with Senators are fooling themselves... he's just doing it just like Paulson and others - to get the "sell all you can and get a zero tax year", spend a couple of years there, then go back to his business... excellent deal for him, his age etc... (Paulson probably made a better deal a couple of years ago with his own assets saving some massive cash...)

[joshuarosenblatt]

I certainly hope people in CT watch and pay attention!!!! SCHIFF FOR SENATE!

[TheMetalPerson]

wow... think about this... "but peter, we're gonna have lots of job losses if we don't help the auto companies. those things you gotta deal with.". Don't you think we need a stimulus? I'm sorry but HITLER didn't spend your money on that. He did take your money, however. GM and Crystler are gone anyway by executive order.

Hitler is here! Change and Hope? YEP!! heil hitler!

[aceyorba]

say Bye Bye to Mr Dodd

[goldspring187]

the average person wont use peters credability to speculate on the silver market with even 1 or 2oz's

they would rather watch a crappy hollywood movie

[Easydollars]

Wont matter what you invest in. The cost of labour is always going to be the problem. Its been the problem for mankind since day one. The whole paper money industry is an illusion.

[LetsRapeGovernment]

go schiff. hes awesome

[aviomaster]

- Money and economy , is what holds state Together ,,, nothing else , Give people money , and impose restrictions on rights free speach , nothing will faze them , as you take money away from population , than real crisis starts ,,, There is no freedom without sound money, and hard work , but USA , zionist pliticians , send all the good jobs to China , Korea , Taiwan and what were left . Jobs that you can not make any money.

[aviomaster]

iti999999 --- YOU can not inject money into failing companies , GO IT ,,, have you ever heard of CCCP ,, do you know what is CCCP ,, Unites Soviet Socialist States , They had the economy , where goverment gives money to companies , which do not make profit , and it is burdain to the economy , with huge losses , 1989 CCCP collapsed under DEBT.

[iti999999]

am i thinking right ? ...so if we wanna keep up economy we got to bankrupt ,go to CHINA and work in their factories for less money than them ...is that going to be a final solution ?:) or there is some other way

[aviomaster]

-- PETER SHIFF talks about , Real hard economy , but if you did nothing , it would be good , for some , but very bad for somebody else, house prices would fall ,and people will be able to buy them and pay for them , That is callled FREE MARKET economy , USA does not have free market economy anymore.

[iti999999]

ok but what will happen with this huge house credit if the prices fall like 50 %

[izzyjosanne]

I have a mancrush on Peter Schiff. A Schiff/Paul ticket in 2012 sounds like the solution to this mess.

[LuqmanNaq]

@izzyjosanne Unfortunately it seems that that economy is gonna crash before 2012, at best they can do a clean up.

[David12King]

@izzyjosanne i would like to see Paul as president and Schiff as chairman of the Federal Reserve (assuming the Congress can't pass an Audit the Fed bill). No more NWO shill running the Fed then.

[Pwnstar57]

@izzyjosanne i love what your saying but its too late

[MEpianist]

@izzyjosanne Here's a quick guide for all the MORONIC Schiff fans ... /watch?v=1Gk3EI40Ppw

[hallmobility]

I love Peter Schiff. Scorned and covered with scars, his lone voice in the wilderness is the only one that called the last 3 big events: The broad real estate collapse, the stock market collapse and the credit crunch.

Who am I to believe now, all the condescending suits who got it wrong, or the one looney who gets it right?

Peter Schiff for me. To H... with the big spending types who want to save us from ourselves.

[4trahasis]

The last minute or so is great (not to say what lies before isn't).

[foxwoodsrob]

the smartest guy i know.

[BATCH420]

YEAH!!!!!

[aegisgfx]

The jig is up, the false economy is about to collapse completely. Schiff is right, the world governments cannot borrow more and buy their way into prosperity. Impossible.

Governments will never voluntarily shrink themselves, never. THEY are the reason we are going to have a massive collapse, and unfortunately they are the only ones that will survive the collapse when they are the ones that should go away.

[xLilB]

i love this dude

[mechwarrior83]

I LOVE the anchor's moustache lol! I was half expecting him to tie that battered housewife of a co-anchor to the tracks while laughing villainously! But I digress, Peter is bang on point as per usual. Too bad those who are in power dont care and those who care aren't in power