This is why we need Ron Paul. Get rid of the fed, bring back the gold standard, small government, true free market capitalism without bailouts or subsidization. Not to mention saving money overseas and cutting taxes.
I skimmed through most of his speech. It sounds like free-market bullshit damage control in the wake of the collapse. I wonder how much he was paid to speak here. This man lacks any intellectual substance. Save yourself the effort of watching this crap and go read a book.
@redbullion01 You're right, it does sound like "free-market bullshit damage control in the wake of the collapse." What makes him different is that he's been able to predict the collapse and its cause before it happened. I think this gives him enough credit to merit listening to his entire speech to see if his logic pans out. Give him a full listen and see if you can attack his premises and thought process instead of the way he sounds. Best of luck to you :)
@618361 My first impression is that those who support this guy were just rabid cultists drinking his Kool-Aid. But since you asked nicely, I'll give it a shot. No offense meant to you.
@redbullion01 Free market is backed by empirical evidence and supported by economists from Adam Smith to Milton Friedman. The only one who needs to read a book is YOU. I'd recommend starting with econ 101.
@H1TMANactual I've renounced my denunciation of Peter Schiff. It seems I was prematurely judging him. As far as the free market is concerned, I'm still shopping for ideologies, so to speak. I'm on the fence as to whether socialist or free market economies are better, or a mix of the two. However, I have nothing but contempt for Friedman.
@redbullion01 Well socialism has completely & utterly failed everywhere it has been tried. Market socialism has worked in Scandinavian countries & to a smaller extent in Canada. Near free markets have the best track record in raising the standard of living of a society as a whole. If you're "shopping", then you have the wrong idea about economics. I'd recommend studying all 3 major schools and deciding for yourself. Dunno why anyone would hate Friedman but that should be irrelevant
@H1TMANactual I'm no expert on Friedman but I've read Shock Doctrine. It was an experience. I'm critical of free markets because of very explicit events that occur on a yearly scale. Naturally, globalization is an outgrowth of the free market. So, how do you explain the export of American jobs abroad? Which raise unemployment rates here and leave third-worlders in slave-like conditions.
@redbullion01 The outsourcing of jobs is due to what government has done to make hiring people too expensive. Excessive regulations and minimum wage law has artificially increased the price of labour. That's why jobs are moving abroad.
@Jinmane Thanks for your response. You said, "Excessive regulations and minimum wage law has artificially increased the price of labour". Sounds reasonable, but these laws were implemented for a reason. Will reducing them bring back jobs? I doubt it. At least we can agree that these jobs should be in the domestic arena.
@redbullion01 Did you just read Naomi Klein's bullshit or did you bother to read any of the rebuttals or the ACTUAL economic history? Read the 1 star reviews on amazon, I have one under the name T. John
It's called comparative advantage (go look it up). Jobs go overseas b/c the labor is cheaper i.e imported goods have lower price than you would otherwise pay if it was made here. It made be detrimental to the affected industry but is overall good for the economy.
Less government spending, less taxation to American Citizens, a budget plan that works.
This man has been fighting for your personal freedom and the separation of congress from big business for years. He stands against draconian bills like SOPA, NDAA and the Patriot Act.
He has fought against the war on drugs, the foreign wars, and corporate bail outs.
He says the FDIC creates a moral hazard. If we didn't have the FDIC then people would look to a ratings agency and only put their money in a safe bank. The problem with this statement is that all those MBSs that became worthless *were* rated very safe (AAA) by Moody's and S&P.
He contradicts himself. He says Fannie and Freddie would not have gotten out of control if they didn't have a government guarantee because the free market wouldn't have let them. But earlier in the lecture he talks about how the free market let dot-com stocks get extremely overvalued - with no government guarantee.
@mike257257 He never said anywhere that bubbles don't exist without government! Of course they can exists without government. The point is that the government makes them worse!
How come Govt is guilty for not regulating fannie and freddie more critically, but why isn't private sector guilty for the shit they were selling to everyone including fannie and freddie.
@Sahakaara The corporation is a creation of the government in the first place, and has given the corporation limits on liability (socialized losses). If you believe corporations control the government (and that that is not how it's supposed to be), then you admit to the voters' inability to elect upright and competent people.
@fleskebille I think it's fair to say that in "democracies" the people and the private interests both influence the government. Without any votes, no party would look credible and could only claim to represent corporate (non-voting) interests.
The fact that I learned more about economics in the past hour and fifteen minutes, than I did when I spent 4 years majoring in it, is absolutely ridiculous.
He says Reagan was great for America making government smaller. Reagan DOUBLED the national DEBT. Reagan also made it easier for business to influence government. During his whole speech, never once did Schiff mention government corruption due to the financial sector. The average person did not ask for war in Iraq, Afghanistan, Iraq again, Veitnam, Korea, and war lending to Libya and Israel--THE FINANCIAL SECTOR WANTED THESE WARS. Schiff is a fraud.
Obviously .. NEGATIVE GEARING has not applied in the US? In Oz ... investors get a tax break ( ie: the difference between rent vs interest = tax deductible!) many wealthy NEED tax breaks .. so they do not care if there are losses because THEY NEED the tax deduction! NOW this created a HUGE downturn when the government moved the goal post deleting Neg gearing ... rents went thru the roof, no one buys property 2 rent = o benefits anymore .. so what happens to those who need to rent ...
The CANADIAN MELTDOWN 1st sale of undeveloped Alberta Oil to the government of South Korea through the law firm of Anne McLellan at 2 billion dollars.2nd sale brokered through Houston to the United Arab Emerates of 4 billion worth of Alberta oil through Bob Turner of Fraser investments/ Fraser Milner Casgrain. (consultants for Alison Redford) FOREIGN CONTROLed resource development in Alberta by foreign GOVERNMENT. That's right not Corporations GOVERNMENTs. Redford & Mclellan what a pair!
@AnneFox7 Alison Redford is a bag man for Brian Mulroney since leaving law school in 1987. She learned about WITCH HUNTING while still at school in Saskatoon and has found that helpful in 1999 Alberta JUSTICE REFORM after being selected by strongman supporter UN Chief Bhoutros Bhoutros Ghalli as a help in preventing WAR CRIMES prosecution in areas south of his balliwick in N.Africa and in the criminal actions of the fine people of Serbia Bosnia Herzagovia and Kosovo as MILA wouldn't like it.
@TheCommonManUSA Instead of constant resource utilization, we now have efficiency gains so great that is a popular meme that the new source of unemployment will be robots! End of the world pessimists have a 4000+ year track record of being wrong.
@TheCommonManUSA You have to be kidding re: Malthus. Malthus has been horribly wrong by every account. The crux of his logic was resource utilization is constant or linear, population growth is exponential increasing. What we have today in the developed world is the opposite, DECREASING population, and EXPONENTIAL increase in resource utilization due to technology. The US produces so much food so cheaply due to subsidies, Mexico buys US corn even though they have comp.adv. in unskilled labor
i agree with everything except that i think the moral hazard created by the FDIC would be, on balance, a good thing if we still had glass-steagel. i see his point about competition insuring safety, but i don't see where the undue risk would come from if investment and commercial banking were kept separate. anyone care to explain?
This guy deserves to be President of the United States of America. But truthful and honest people like him will never reach that point. He ran for the Senate, but had to lose out early in the nomination, because politics is a dirty game and u need to lie and deceive common people and work for a certain hidden agenda in order to get funding from wealthy interest groups. Peter Schiff is like a mentor.... and i wish him the best !! Also, he kicks Ass when he's on television. Go watch him guys !!
Compare his knowledge of economics to that of Nancy Pelosi. Imagine her speaking with no notes for over an hour on these same topics. Then remind yourself she was Speaker of the House not him. We're screwed. The system rewards airhead liars buying votes with our tax money, from selfish dumb voters who vote for their own welfare benefits. Bankrupt socialist state dead ahead. The future USA -- Underachieving Socialist Assholes.
Der Typ ist ja echt übel. Er tut so, als gäbe es keinen Zusammenhang zwischen Wallstreet und Regierung in den USA. Dabei hat niemand anders als Wallstreet regiert - die Leute in den Finanzen kamen immer von der Wallstreet. Sie haben die Gesetze geändert und gelockert, dereguliert. All das scheint es für Schill nicht zu geben. Seither hatten wir 2 grosse Blasen, aber für ihn ist das kein Problem. Er redet einfach drum herum, der Staat war schuld und nicht Wallstreet, die jedes mal dabei waren.
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sorry guys. this guy schiff just search the problem of the crises 2001 and 2008 in the us goverment. the problem after 1989 was that the guys from wallstreet looked that the goverment changed the rules, deregulated the whole banking systems. the same guys worked first in private or investement banking and went than to goverment and changed the whole system. so at the end wallstreet dictated the whole thing. so the goverment was and is the wallstreet! mr schilff you can't get away so cheap!
If the House and the Senate would just stay focus on their main mission; which is to protect "we the people" Constitution; none of this political greed would be legislated and passed by both houses!
Thank god i quit University. While Im making $250,000 / year investing and trading, my best friend who obtained a degree is $40,000 in debt and can't find a job because no one's hiring.
@1XMarksSpot Then let "we the people" tweet main street together to vote for Ron Paul for President of the United States. Let "we the people" use the internet, tweet, and facebook" to elect Ron Paul for President!! Can "we the people" make this happen in 2012? Holler Back!!
When I took Macroeconomics in 2008 I argued these same concepts with my professor, who shrugged me off and told me I didn't understand enough about economics. Since then I have been studying economics by listening to economists talk, watching economics lectures online, and understanding politics. I thought I was missing some critical idea for years. But this lecture finally puts some authority on what I originally thought.
Don't let school take away your ability to think !!
@618361 The trouble was that your professor doesn't know economics at all, he knows Statist apologetical gibberish. We practice a branch of philosophy, theirs is a branch of theology.
I loved how people laughed when he says let's tell the people they are going to get screwed to pay the chinese back.
The problem is that the irish and greek governments didn't get the joke and took it seriously when the IMF told then the same replacing china with germany.
It shouldn't have surprised anyone, but it did. There are several reasons that it did. First: The US education system is so horrid that most of us can't even balance our own checking account. Second: Rich assholes have made our financial system so complex that very few people actually know how it works. Third: Assholes in charge do nothing but lie to us about everything.
One thing he said was true, It's not our fault that our government borrowed us in to debt, yet no American official, senator,congressman ect, corporation or their CEOs wil suffer one bit, it'll be the American people.
stocks go up sustainably while not paying a dividend because they reinvest the profits in the company instead. so it works like a forced, internal, 'dividend reinvestment' program. of course eventually they have to pay a dividend, or buy back stocks, but a company CAN work without paying dividends.
@nafism6969 You are a fucking idiot. I don't even want to argue the points, because I know you'll pooh-pooh anything I say since you KNOW the real truth. You're as fucking stupid as some fundy muslim and yet you believe you're superior to them. Pathetic idiot.
@twistedorchid u dont have to say anything. just wait and watch like the pussy ass yank that u r. u cant do anything anyway. ur own govt is taking u lot to the cleaners and all u can do is watch American Idol LOL.
u hear that? u live in a so called demoracy, and u - cant - do - a - damn - thing.
@nafism6969 Every single Islamic state is a big shithole. That's why muzzies come begging to the west. Keep following that prophet mudhamhead who molested a little girl of 9 when he was 57. Islam creates idiots, that's why muzzie states are not productive.
Laughable. Muhamad was a nasty pig. Islam is for retards
@nafism6969 HAHAHA You have money? You silly bitch. The combined GDP of the Islamic states is shit! All 57 states are plagued with illiteracy and poverty. Yeah, there are some rich sheikhs, but the people are poor. What do they produce? They can't even make bicycles. HAHAHA!
Get real, Islam makes people stupid and poor. No wonder the world despises you roaches
@1wowee the middle east and China r LENDING you their money u dumb hoe. ur EATING from their cash. dont u have any shame? u should get on ur knees suck suck chinese dicks like a fucking slave that u r.
oh ye, the worlds most "smartest" country cant even balance a budget.
@nafism6969 Middle East? LOL. You backward fucks wouldn't even be able to take the oil out of the ground without western technology. For a stupid ass muhamadan to lecture us on economics is a joke. Even IF China surpasses us, YOU will all still live in shitholes.
The whole world is waking up to this disease called Islam and the child raping bastard you call a prophet. Allah makes you all beggars, and soon we won't feed you. hahahah
@1wowee Islam got three things right, although they don't understand WHY these things are right, but they ARE in fact right. The first thing? No pork. The second thing? No smoking. The third thing? No alcohol. As opposed to the Christians who got absolutely nothing right.
The discussion at 9:00 makes me think. Is it really immoral to take advantage of stupid people? Because it seems like thats what a lot of that stock market stuff was..
Peter is a smart guy. I followed him and bought a place in Belize too. Only mine is no beachfront mansion. When the SHTF food will be the new gold and silver. We are building Biospharms so that we have a safe and sustainable place where our food grows no matter if we are there or not.
Be smart and listen to peter, while you can still buy a place to excape the debt the crooked leaders are pouring on us daily. They are seeing smart youth leave now and will stop it soon. Get info at Biospharms.
What about the fact that America is the dominant military force in the world? A huge amount of the budget goes to military spending. So if China or any country tries to make the moves Peter's talking about in becoming financially independent from the United States, can't the United States just bomb them?
I think the symptom is inbreeding: What we have is Big-Wall-Street-Main-Street-DC-Ponzi-Scheme-Enterprises. This amounts to a handful of overprivileged princelings covering each other's rear-ends and it does not matter if this is at the expense of the rest of our society. This arrangement is no different from a decrepit empire encumbered by a pompous court immersed in grandiose fantasies. I suppose business as usual will go on until barbarians literally knock on the palace gates!
Hi, I'd like to translate some of the Mises Institute videos into french, I can do 99,5% of the work, but I need someone to help me with some sentences that I don't understand... that wouldn't take much time, that's really just a few words. So if you want to help, please contact me, thanks :)
Schiff is right about most things in this video except that Reagan certainly did not favor shrinking government. He said he did, but he actually grew government and the debt to the largest levels the U.S. had ever seen. He eclipsed Carter even in his first year. He grew the military industrial complex to consume all our government tax dollars on weapons, simply because they bribed him to give them the contracts. Reagan quite honestly started the waste we have today.
@midtra52 I agree but you even forgot to mention the war on drugs and all that nonsense. Just an excuse to increase police state and invade people's privacy. Terrible waste of tax dollars.
@shotsky94 After being laughed at repeatedly on national TV by so-called "experts" for all his predictions that were 100% accurate, I think he has a right to pat himself on the back.
@shotsky94 Because people still do not believe what he is saying now. He was laughed at, ridiculed, and mocked by people on live television as he accurately predicted what was going to happen. I think he has a right to be somewhat arrogant after enduring being the prophet cast out by heretics. I understand what you are saying though, he is not the most tactful in his response.
This speech is a tour de force. No one else could make it. Imagine if Greenspan tried.... Zzzzzzz. That's why Peter is a prodigy. He sees the hidden dynamics of an economy. Network TV should let Peter respond for 30 minutes after every speech by Bernanke and Obama on monetary/fiscal policy, to set the record straight for voters, who get conned by the politicians and bureaucrats.
@htuosm Keynes was a smart guy, though. A good investor and writer. The only thing wrong with Keynesianism is that he isn't around to apply it. Recall that Keynes said deficit spending only worked after a SURPLUS was run by the government during good times. We were $10 trillion in debt in 2008, so the government was not following Keynes. Congress and the Fed butchered Keynesian theory to suit their selfish desires -- spending all the time, which is immoral when taxpayer money is spent unwisely.
@DexterHaven49 If that's true it's kinda too bad for the guy that his name got attached to their wacked-out version of things--still, it seems to me that he believed that government could and should be in control of these kinds of things. That's unfortunately incredibly short sighted, so maybe he deserved what he got after all. There is just no reason to believe that government is ever going to do a good job of price-fixing any part of the economy.
@htuosm Keynes was the #1 student at Eton, a top English prep school. He got a scholarship to Cambridge, where he majored in math and was elected to the secret society The Apostles of Reason, where he debated Bertrand Russell, Lytton Strachey, etc. He was England's delegate to the Treaty of Versailles confab, after which he wrote a book foretelling a worse regrouped Germany ahead, The Economic Consequences of the Peace. He was not for price controls but for wise planning. He would adapt today.
@DexterHaven49 (wikipedia)"He proposed the creation of a common world unit of currency, the Bancor and of new global institutions — a world central bank and the International Clearing Union". Granted, I haven't studied him in detail, but it seems to me he made a very common mistake. Smart people often think they are smart enough to guide/direct/regulate/whatever a nation's, or in this case, all the nations of the worlds', economies. Simply believing that is a fatal flaw--no one is that smart.
Bernanke & Greenspan must be mentally `deficient` if they believe that a nation can live `above` it`s income. The British had an Empire that was 1/4 of the worlds land area; where is it today? It `collapsed`, & the US Empire will "go the same way" . The international money markets are not easily `fooled` by the `credit card` economics. The world will stop using the US$ and start to use the Euro,Chinese,Indian,Russian & Brazilian currencies, as well as Gold & Silver. US has committed suicide !
I don't want my tax dollars to pay profits to private entities but government services offered to me. Surely that's not something unpatriotic to ask? And how about getting a tax break for not paying this profit to private entities? No taxation without representation. The Fed is private. Why are my tax dollars going to its shareholders? What am I, a slave? If I don't want a Toyota I just don't buy one. Why am I being forced (thru taxation) to buy into this FED inflation?
This is what Peter and most people don't understand. ...The point of the United Nations was to end national sovereignty. America can never transition from a service sector economy to a productive economy because that would mean American sovereignty. This is not part of the New World Order. That's why the UN was created! This is why China received such heavy investment in manufacturing from Western bankers....they created modern China, this plan was initiated in the 1930s...NAFTA, GATT, sealedit
Friends don't let friends buy silver (or any precious metal) at retail! That's my motto! If you're interested in buying silver at wholesale price, send me a message. No minimums or maximums!
@zombiefitnezz i took schiff's advice in 2008 to buy silver. it was around $12. i've tripled my first purchases, doubled my second round of purchases. meanwhile the dow only doubled from 6500 in nominal terms. once it takes it's second big shit within a year from now, the dow will drop hard (in real terms) and my silver will triple/quad once again. good luck defending your argument. and hey, buy domestic stocks. listen to CNBC Fast Money.
The Federal Reserve is as federal as Federal Express. -Eustace Mullins The banks caused the money supply to increase and create bubbles! The Federal Reserve is not the Government Peter!
@BlancGivre creation of the federal reserve in 1913 signed by Woodrow Wilson. The Fed is not a government entity??? oh, really? Sure, technically the fed is not part of the government, but in all essence, they are one in the same...that's what Pete meant. The banks creating money supply is directly related to the government selling them the bonds, to "monitize the debt". The government and the federal reserve cycle the same people through. The fact that the fed is private is actually irrelevant
@tonyg0123 If the FED wasn't private, the taxpayer wouldn't have to pay the FED shareholders profits on dollars creation thru taxation to repay gov bonds, surely you understand that? What are Gov bonds if not taxes to pay later? If you don't know who the FED shareholders are, I suggest you read Eustace Mullins.
@BlancGivre The problem is that if the fed was nationalized the government will have even more free will to print...which could be much worse than where we are at now. I'll send you a link where Peter breakes down the fed a little bit more than he does in this speech and talks about the repurcussions of ending the privatization of the fed.
@tonyg0123 I agree with you that I don't want the US to be milked either by congress or the international banksters. I guess, then, what we're saying is that we need to go back to a gold standard, but then again, it is the collusion between same banksters and government that got us out of the gold standard in the first place. The collusion between banksters and gov is ultimately the problem. I understand that no human system will ever work ultimately and that we're condemned to re-invent always.
@tonyg0123 HI can you pls send me the link also about Peter talking about the repercussion of ending of privatisation of the fed? My view though on nationalizing the Fed is for it. What I see now being played is the blame game on whose fault are the recessions. But if the gov has the control over the prinitng of money, it wouldnt have to print to much of it since its not paying any debt. Additionally, if its on gold standard it would limit their power to print. Gov can be blamed if sumthns wrong
@101simar i will send it...and you are talking about the government control of the fed while we are back on the gold standard...then that's a different story altogether and may be the best option to restore some fiscal sanity within this country
@101simar instead of me sending the link, just type in "peter schiff ellen brown" and it should be the first video that pops up...it is about 8:30 long and is in 2 parts. Schiff also brings up the repurcussions of nationalizing the fed numerously on his radio show...schiffradio(dot)com...you can download daily shows and listen for free without commercials.
The dollar would have crashed in '08 had world investors recognized in '08 that US bonds are junk. The dollar would have crashed in '09 had world investors recognized in '09 that US bonds are junk. It's simply a question of when they stop throwing good money after bad. Schiff explains all this in great detail.
Keynesian zombies have no idea why anything happens, so why should we care about their silly objections?
Alan greenspan and Ben bernanke hired a team and created multiple accounts to dislike this video. That's how the fed uses your money. Hiring people to dislike Peter Sciff videos.
Amazing lecture.
BlindWatchman 5 days ago in playlist Favorite videos
rofl 41:30
slimininin 6 days ago 2
Great speech, Peter!
The other vids with Schiff I would recommend are:
- Ron Paul Money Lecture (pt3)
- Peter addressing the Mortgage Brokers in 2006
evilzzzable 2 weeks ago 2
This is why we need Ron Paul. Get rid of the fed, bring back the gold standard, small government, true free market capitalism without bailouts or subsidization. Not to mention saving money overseas and cutting taxes.
wiseman152439 3 weeks ago
I skimmed through most of his speech. It sounds like free-market bullshit damage control in the wake of the collapse. I wonder how much he was paid to speak here. This man lacks any intellectual substance. Save yourself the effort of watching this crap and go read a book.
redbullion01 1 month ago
@redbullion01 You're right, it does sound like "free-market bullshit damage control in the wake of the collapse." What makes him different is that he's been able to predict the collapse and its cause before it happened. I think this gives him enough credit to merit listening to his entire speech to see if his logic pans out. Give him a full listen and see if you can attack his premises and thought process instead of the way he sounds. Best of luck to you :)
618361 1 month ago in playlist Favorite videos
@618361 My first impression is that those who support this guy were just rabid cultists drinking his Kool-Aid. But since you asked nicely, I'll give it a shot. No offense meant to you.
redbullion01 1 month ago
@redbullion01 Free market is backed by empirical evidence and supported by economists from Adam Smith to Milton Friedman. The only one who needs to read a book is YOU. I'd recommend starting with econ 101.
H1TMANactual 1 month ago in playlist Knowledge
@H1TMANactual I've renounced my denunciation of Peter Schiff. It seems I was prematurely judging him. As far as the free market is concerned, I'm still shopping for ideologies, so to speak. I'm on the fence as to whether socialist or free market economies are better, or a mix of the two. However, I have nothing but contempt for Friedman.
redbullion01 1 month ago
@redbullion01 Well socialism has completely & utterly failed everywhere it has been tried. Market socialism has worked in Scandinavian countries & to a smaller extent in Canada. Near free markets have the best track record in raising the standard of living of a society as a whole. If you're "shopping", then you have the wrong idea about economics. I'd recommend studying all 3 major schools and deciding for yourself. Dunno why anyone would hate Friedman but that should be irrelevant
H1TMANactual 1 month ago
@H1TMANactual I'm no expert on Friedman but I've read Shock Doctrine. It was an experience. I'm critical of free markets because of very explicit events that occur on a yearly scale. Naturally, globalization is an outgrowth of the free market. So, how do you explain the export of American jobs abroad? Which raise unemployment rates here and leave third-worlders in slave-like conditions.
redbullion01 1 month ago
@redbullion01 The outsourcing of jobs is due to what government has done to make hiring people too expensive. Excessive regulations and minimum wage law has artificially increased the price of labour. That's why jobs are moving abroad.
Jinmane 4 weeks ago
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@Jinmane Thanks for your response. You said, "Excessive regulations and minimum wage law has artificially increased the price of labour". Sounds reasonable, but these laws were implemented for a reason. Will reducing them bring back jobs? I doubt it. At least we can agree that these jobs should be in the domestic arena.
redbullion01 4 weeks ago
@redbullion01
Friedman has nothing to do with free market.. He is a fraud.. I mean he is a corporate fascist.
xMaXiMuSx 3 weeks ago in playlist Liked videos
@redbullion01 Did you just read Naomi Klein's bullshit or did you bother to read any of the rebuttals or the ACTUAL economic history? Read the 1 star reviews on amazon, I have one under the name T. John
It's called comparative advantage (go look it up). Jobs go overseas b/c the labor is cheaper i.e imported goods have lower price than you would otherwise pay if it was made here. It made be detrimental to the affected industry but is overall good for the economy.
H1TMANactual 3 weeks ago
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Support Ron Paul.
Less government spending, less taxation to American Citizens, a budget plan that works.
This man has been fighting for your personal freedom and the separation of congress from big business for years. He stands against draconian bills like SOPA, NDAA and the Patriot Act.
He has fought against the war on drugs, the foreign wars, and corporate bail outs.
Vote for liberty this year. Vote for real change.
Thumb up and spread the message!
RapsAlive 1 month ago
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RapsAlive 1 month ago
Peter has good humor in this speech too, great video.
TWSceptic 1 month ago 2
Very interesting . Thank YOU ~:))
Grey1671 1 month ago in playlist FreedomFighters- Petter Shiff
mmh wie geil hab 3 brüste
MargyJanisemb870 1 month ago
great speech peter. much respect
norskemann1 1 month ago
He says the FDIC creates a moral hazard. If we didn't have the FDIC then people would look to a ratings agency and only put their money in a safe bank. The problem with this statement is that all those MBSs that became worthless *were* rated very safe (AAA) by Moody's and S&P.
mike257257 2 months ago
He contradicts himself. He says Fannie and Freddie would not have gotten out of control if they didn't have a government guarantee because the free market wouldn't have let them. But earlier in the lecture he talks about how the free market let dot-com stocks get extremely overvalued - with no government guarantee.
mike257257 2 months ago
@mike257257 that's because of the low interest rates that the Fed created. it's not free market at all when someone is manipulating interest rates
JinGwee 2 months ago 16
@mike257257 He never said anywhere that bubbles don't exist without government! Of course they can exists without government. The point is that the government makes them worse!
TWSceptic 1 month ago
government wants housing prices high because most state governments are addicted to the property taxes.
pablo16825 2 months ago
How come Govt is guilty for not regulating fannie and freddie more critically, but why isn't private sector guilty for the shit they were selling to everyone including fannie and freddie.
parkj238 2 months ago
@parkj238 Iirc the Fed set out to create a housing bubble. Just the usual animal spirit stimulation (Keynes). This is what happens. They should know.
fleskebille 2 months ago
How do you answer the claim that government is controlled by private Wall Street interests, and therefore the problem starts with rich corporations?
Sahakaara 2 months ago
@Sahakaara The corporation is a creation of the government in the first place, and has given the corporation limits on liability (socialized losses). If you believe corporations control the government (and that that is not how it's supposed to be), then you admit to the voters' inability to elect upright and competent people.
fleskebille 2 months ago
@fleskebille I think it's fair to say that in "democracies" the people and the private interests both influence the government. Without any votes, no party would look credible and could only claim to represent corporate (non-voting) interests.
Sahakaara 2 months ago
thanks for upload
RYANMOW 2 months ago
The fact that I learned more about economics in the past hour and fifteen minutes, than I did when I spent 4 years majoring in it, is absolutely ridiculous.
benallen12 3 months ago
He says Reagan was great for America making government smaller. Reagan DOUBLED the national DEBT. Reagan also made it easier for business to influence government. During his whole speech, never once did Schiff mention government corruption due to the financial sector. The average person did not ask for war in Iraq, Afghanistan, Iraq again, Veitnam, Korea, and war lending to Libya and Israel--THE FINANCIAL SECTOR WANTED THESE WARS. Schiff is a fraud.
heaviside1618 3 months ago
This man is incredible. If only we had someone like this steering economic policy in the beltway.
jmnage 3 months ago
Schiff should give a Ted talk, which is now stuffed with liberals.
frankcharles511 3 months ago 24
For such an accurate economic forecaster, listening to this entire lecture frightens the living shit out of me -- mainly because we know it's true.
SevenFootPelican 3 months ago
Obviously .. NEGATIVE GEARING has not applied in the US? In Oz ... investors get a tax break ( ie: the difference between rent vs interest = tax deductible!) many wealthy NEED tax breaks .. so they do not care if there are losses because THEY NEED the tax deduction! NOW this created a HUGE downturn when the government moved the goal post deleting Neg gearing ... rents went thru the roof, no one buys property 2 rent = o benefits anymore .. so what happens to those who need to rent ...
PlanetEarthSupport 3 months ago
AMEN!
stormalfla 3 months ago
hardly tom!
deddlem 3 months ago
This is the best antidote to the Michael Moore-style anti-capitalist rants about the housing crisis.
teddlem 3 months ago
The CANADIAN MELTDOWN 1st sale of undeveloped Alberta Oil to the government of South Korea through the law firm of Anne McLellan at 2 billion dollars.2nd sale brokered through Houston to the United Arab Emerates of 4 billion worth of Alberta oil through Bob Turner of Fraser investments/ Fraser Milner Casgrain. (consultants for Alison Redford) FOREIGN CONTROLed resource development in Alberta by foreign GOVERNMENT. That's right not Corporations GOVERNMENTs. Redford & Mclellan what a pair!
AnneFox7 3 months ago
@AnneFox7 Alison Redford is a bag man for Brian Mulroney since leaving law school in 1987. She learned about WITCH HUNTING while still at school in Saskatoon and has found that helpful in 1999 Alberta JUSTICE REFORM after being selected by strongman supporter UN Chief Bhoutros Bhoutros Ghalli as a help in preventing WAR CRIMES prosecution in areas south of his balliwick in N.Africa and in the criminal actions of the fine people of Serbia Bosnia Herzagovia and Kosovo as MILA wouldn't like it.
AnneFox7 3 months ago
@TheCommonManUSA Instead of constant resource utilization, we now have efficiency gains so great that is a popular meme that the new source of unemployment will be robots! End of the world pessimists have a 4000+ year track record of being wrong.
metamemetics 4 months ago
@TheCommonManUSA You have to be kidding re: Malthus. Malthus has been horribly wrong by every account. The crux of his logic was resource utilization is constant or linear, population growth is exponential increasing. What we have today in the developed world is the opposite, DECREASING population, and EXPONENTIAL increase in resource utilization due to technology. The US produces so much food so cheaply due to subsidies, Mexico buys US corn even though they have comp.adv. in unskilled labor
metamemetics 4 months ago
This guy is smarter than any MIT student or Professor, keep it simple.
superhawkn 4 months ago
I do not know but I like this guy! Him and my dad would be best buds! Think same called common sense.
superhawkn 4 months ago
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qwerty94376 4 months ago
i agree with everything except that i think the moral hazard created by the FDIC would be, on balance, a good thing if we still had glass-steagel. i see his point about competition insuring safety, but i don't see where the undue risk would come from if investment and commercial banking were kept separate. anyone care to explain?
HarryRay 4 months ago
at 47:50 Will all the plants in Detroit sit idle ? Er.... they are. What a dickhead
gregreman 4 months ago
Google building 7
buffydog247 4 months ago
This guy deserves to be President of the United States of America. But truthful and honest people like him will never reach that point. He ran for the Senate, but had to lose out early in the nomination, because politics is a dirty game and u need to lie and deceive common people and work for a certain hidden agenda in order to get funding from wealthy interest groups. Peter Schiff is like a mentor.... and i wish him the best !! Also, he kicks Ass when he's on television. Go watch him guys !!
alimutahir1 4 months ago 3
45 people are sub-prime economists
Svenskivsk 4 months ago
@Svenskivsk
45 people are sub-prime economists
So...45 people are Ben Bernanke?
riverlioness 4 months ago 4
@riverlioness yep its the clone wars man lol
Svenskivsk 4 months ago
Best speech on YouTube.
DexterHaven49 5 months ago
Compare his knowledge of economics to that of Nancy Pelosi. Imagine her speaking with no notes for over an hour on these same topics. Then remind yourself she was Speaker of the House not him. We're screwed. The system rewards airhead liars buying votes with our tax money, from selfish dumb voters who vote for their own welfare benefits. Bankrupt socialist state dead ahead. The future USA -- Underachieving Socialist Assholes.
DexterHaven49 5 months ago
amazing
randomrating123 5 months ago
Comment removed
LEMURIA828 5 months ago 4
imagine if China could vote, all 1.2 billion of them
manfries 5 months ago
Der Typ ist ja echt übel. Er tut so, als gäbe es keinen Zusammenhang zwischen Wallstreet und Regierung in den USA. Dabei hat niemand anders als Wallstreet regiert - die Leute in den Finanzen kamen immer von der Wallstreet. Sie haben die Gesetze geändert und gelockert, dereguliert. All das scheint es für Schill nicht zu geben. Seither hatten wir 2 grosse Blasen, aber für ihn ist das kein Problem. Er redet einfach drum herum, der Staat war schuld und nicht Wallstreet, die jedes mal dabei waren.
andorch 5 months ago
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sorry guys. this guy schiff just search the problem of the crises 2001 and 2008 in the us goverment. the problem after 1989 was that the guys from wallstreet looked that the goverment changed the rules, deregulated the whole banking systems. the same guys worked first in private or investement banking and went than to goverment and changed the whole system. so at the end wallstreet dictated the whole thing. so the goverment was and is the wallstreet! mr schilff you can't get away so cheap!
andorch 5 months ago
Comment removed
andorch 5 months ago
Why US citizens should vote Ron Paul
Search For
"BUSH OBAMA DESTROYED US ARMY"
eliasmouawad 5 months ago
If the House and the Senate would just stay focus on their main mission; which is to protect "we the people" Constitution; none of this political greed would be legislated and passed by both houses!
upliftspirits 5 months ago
Thank god i quit University. While Im making $250,000 / year investing and trading, my best friend who obtained a degree is $40,000 in debt and can't find a job because no one's hiring.
Incredible.
treysparker 5 months ago
Ron Paul 2012
He has never voted to raise taxes.
He has never voted for an unbalanced budget.
He has never voted for a federal restriction on gun ownership.
He has never voted to raise congressional pay.
He has never voted to increase the power of the executive branch.
He voted against the Patriot Act.
He voted against the Iraq War.
He returns a portion of his annual congressional office budget to the U.S. Treasury every year.
1XMarksSpot 6 months ago
@1XMarksSpot Then let "we the people" tweet main street together to vote for Ron Paul for President of the United States. Let "we the people" use the internet, tweet, and facebook" to elect Ron Paul for President!! Can "we the people" make this happen in 2012? Holler Back!!
upliftspirits 5 months ago
@upliftspirits Already doing that right here! lol :P
1XMarksSpot 5 months ago
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1XMarksSpot 6 months ago
Malinvenstments. Thank you, fractional reserve banking for nothing.
riverlioness 6 months ago
@riverlioness Exactly!!! So much for the benefits of a fractional reserve banking system!
titan13131 6 months ago
He tends to ramble on but makes sense
kcozgrove 6 months ago
it's like, look, what's wrong with our economy?
- we need more cars!
hehe, he's great.
vittorioabr 6 months ago 16
The top 2% of corporate America dislikes this video!
This is just a joke so keep your shirt on!
quinnrasta 7 months ago
When I took Macroeconomics in 2008 I argued these same concepts with my professor, who shrugged me off and told me I didn't understand enough about economics. Since then I have been studying economics by listening to economists talk, watching economics lectures online, and understanding politics. I thought I was missing some critical idea for years. But this lecture finally puts some authority on what I originally thought.
Don't let school take away your ability to think !!
618361 7 months ago 141
@618361 That is why it is school... aka training not education! School trains people to be workers/consumers, not entrepreneurs/producers.
salchih 5 months ago
@618361 I will never let them do that. :) I am happy when a professor argues me. I know then that I am on to something.
SuperPhdiva 5 months ago
welcome to Austrian school
JaxZstudio 5 months ago
@618361 same here dude.
Andreasking 4 months ago in playlist schiff
@618361 The trouble was that your professor doesn't know economics at all, he knows Statist apologetical gibberish. We practice a branch of philosophy, theirs is a branch of theology.
ThisMachineKillsReds 1 month ago 3
"That's it".......................LMFAO!
shotsky94 7 months ago
stinkystu1. Crude but very accurate.
888kevo 7 months ago
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The only thing preveting the government from feeding the whole country is people like Peter Schiff.
SchiftReport 7 months ago
Free market is a code word for rigged market. Look at oil exchange since 1980s.
shogu666 7 months ago
I loved how people laughed when he says let's tell the people they are going to get screwed to pay the chinese back.
The problem is that the irish and greek governments didn't get the joke and took it seriously when the IMF told then the same replacing china with germany.
Gontzal7 7 months ago
It shouldn't have surprised anyone, but it did. There are several reasons that it did. First: The US education system is so horrid that most of us can't even balance our own checking account. Second: Rich assholes have made our financial system so complex that very few people actually know how it works. Third: Assholes in charge do nothing but lie to us about everything.
stinkystu1 7 months ago
One thing he said was true, It's not our fault that our government borrowed us in to debt, yet no American official, senator,congressman ect, corporation or their CEOs wil suffer one bit, it'll be the American people.
dave4854 7 months ago
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check out the new peter schiff radio show (june 20th) with bitcoins donald norman..... peter asks some great questions and sheds some light
NewbWorksDwarven 7 months ago 2
stocks go up sustainably while not paying a dividend because they reinvest the profits in the company instead. so it works like a forced, internal, 'dividend reinvestment' program. of course eventually they have to pay a dividend, or buy back stocks, but a company CAN work without paying dividends.
mattr8750 7 months ago
The American govt will purposely collapse the US dollar to reign in "electronic money" as the next world currency.
this will facilitate the one world govt.
the next superpower will be Israel.
The US govt KNOWS what to do. but doesnt.
why?
because they have their OWN hidden agenda that they want to accomplish.
they dont give a fuck about whats happening in the US economy and its peasents.
they have their own Zionist plans. dont b stupid.
nafism6969 7 months ago
@nafism6969 You are a fucking idiot. I don't even want to argue the points, because I know you'll pooh-pooh anything I say since you KNOW the real truth. You're as fucking stupid as some fundy muslim and yet you believe you're superior to them. Pathetic idiot.
twistedorchid 7 months ago
@twistedorchid u dont have to say anything. just wait and watch like the pussy ass yank that u r. u cant do anything anyway. ur own govt is taking u lot to the cleaners and all u can do is watch American Idol LOL.
u hear that? u live in a so called demoracy, and u - cant - do - a - damn - thing.
go to Burger King where ur fat ass belongs.
nafism6969 7 months ago
@nafism6969 Every single Islamic state is a big shithole. That's why muzzies come begging to the west. Keep following that prophet mudhamhead who molested a little girl of 9 when he was 57. Islam creates idiots, that's why muzzie states are not productive.
Laughable. Muhamad was a nasty pig. Islam is for retards
1wowee 7 months ago
@1wowee we have money, bitch.
u dont.
nafism6969 7 months ago
@nafism6969 HAHAHA You have money? You silly bitch. The combined GDP of the Islamic states is shit! All 57 states are plagued with illiteracy and poverty. Yeah, there are some rich sheikhs, but the people are poor. What do they produce? They can't even make bicycles. HAHAHA!
Get real, Islam makes people stupid and poor. No wonder the world despises you roaches
1wowee 6 months ago 4
@1wowee the middle east and China r LENDING you their money u dumb hoe. ur EATING from their cash. dont u have any shame? u should get on ur knees suck suck chinese dicks like a fucking slave that u r.
oh ye, the worlds most "smartest" country cant even balance a budget.
ur the laughing stock of the whole world.
nafism6969 6 months ago
@nafism6969 Middle East? LOL. You backward fucks wouldn't even be able to take the oil out of the ground without western technology. For a stupid ass muhamadan to lecture us on economics is a joke. Even IF China surpasses us, YOU will all still live in shitholes.
The whole world is waking up to this disease called Islam and the child raping bastard you call a prophet. Allah makes you all beggars, and soon we won't feed you. hahahah
1wowee 2 months ago
@1wowee Islam got three things right, although they don't understand WHY these things are right, but they ARE in fact right. The first thing? No pork. The second thing? No smoking. The third thing? No alcohol. As opposed to the Christians who got absolutely nothing right.
TheManiacalSatanist6 6 months ago
this guy is funny as
nafism6969 7 months ago
LOL! No! This is a beautiful thing. I love him. Logic, wit and veracity....there's nothing like it!
simplenametag 7 months ago
The discussion at 9:00 makes me think. Is it really immoral to take advantage of stupid people? Because it seems like thats what a lot of that stock market stuff was..
MandragGanon 7 months ago
@MandragGanon
No, it's immoral to let a sucker keep his money.
Andy5674 7 months ago
@Andy5674 that may in fact be true
MandragGanon 7 months ago
For the record Peter Reagan grew the size of the government and more than quadrupled the debt. He was the one that started the "service economy"
Bashpanel 7 months ago
you have no assets....
you have... no revenues....
you got no customers...
lol! YES!
TheBlitz1 7 months ago
Peter is a smart guy. I followed him and bought a place in Belize too. Only mine is no beachfront mansion. When the SHTF food will be the new gold and silver. We are building Biospharms so that we have a safe and sustainable place where our food grows no matter if we are there or not.
Be smart and listen to peter, while you can still buy a place to excape the debt the crooked leaders are pouring on us daily. They are seeing smart youth leave now and will stop it soon. Get info at Biospharms.
biospharms 7 months ago
What about the fact that America is the dominant military force in the world? A huge amount of the budget goes to military spending. So if China or any country tries to make the moves Peter's talking about in becoming financially independent from the United States, can't the United States just bomb them?
dubified89 8 months ago
I think the symptom is inbreeding: What we have is Big-Wall-Street-Main-Street-DC-Ponzi-Scheme-Enterprises. This amounts to a handful of overprivileged princelings covering each other's rear-ends and it does not matter if this is at the expense of the rest of our society. This arrangement is no different from a decrepit empire encumbered by a pompous court immersed in grandiose fantasies. I suppose business as usual will go on until barbarians literally knock on the palace gates!
Waterflux 8 months ago
This is the best speech of Peter along with that one in front of mortgage bankers. Just beautiful and spot-on.
axal100 8 months ago 5
I ran into my high school econ teacher and asked him what he thought of Peter Schiff. His answer to me was "who?" True story. Kind of scary
andyman311 8 months ago 9
@andyman311 Your high school had econ?!
madamewoselle 3 months ago
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projetliberte 8 months ago
Peter Schiff is my co-pilot.
Polyushka 8 months ago 2
To watch this video 5 years from now just search "Peter Schiff was Right Part ll".
detroitbignutz 8 months ago 3
@finarrykahn13 I'm glad you accept he's a narcissist
shotsky94 8 months ago
Schiff is right about most things in this video except that Reagan certainly did not favor shrinking government. He said he did, but he actually grew government and the debt to the largest levels the U.S. had ever seen. He eclipsed Carter even in his first year. He grew the military industrial complex to consume all our government tax dollars on weapons, simply because they bribed him to give them the contracts. Reagan quite honestly started the waste we have today.
midtra52 8 months ago
@midtra52 I agree but you even forgot to mention the war on drugs and all that nonsense. Just an excuse to increase police state and invade people's privacy. Terrible waste of tax dollars.
selubria 8 months ago
@midtra52
Nice. Most people neglect this fact. Peter Schiff is one bmf though.
andyman311 8 months ago
This comment has received too many negative votes show
The guy's an egotist. Why does he keep referencing the "Peter Schiff was Right" video? Fucking narcissist
shotsky94 8 months ago
@shotsky94 After being laughed at repeatedly on national TV by so-called "experts" for all his predictions that were 100% accurate, I think he has a right to pat himself on the back.
easton462 8 months ago 4
@shotsky94 Because people still do not believe what he is saying now. He was laughed at, ridiculed, and mocked by people on live television as he accurately predicted what was going to happen. I think he has a right to be somewhat arrogant after enduring being the prophet cast out by heretics. I understand what you are saying though, he is not the most tactful in his response.
finarrykahn13 8 months ago
43 dumb fuckin morons who don't understand econ 101 watched this video!
mit26chell 8 months ago
This speech is a tour de force. No one else could make it. Imagine if Greenspan tried.... Zzzzzzz. That's why Peter is a prodigy. He sees the hidden dynamics of an economy. Network TV should let Peter respond for 30 minutes after every speech by Bernanke and Obama on monetary/fiscal policy, to set the record straight for voters, who get conned by the politicians and bureaucrats.
DexterHaven49 9 months ago
Two words: Scientific Revolution!
Brownyman 9 months ago
51:51 The utter stupidity of Keynesianism, laid bare.
htuosm 9 months ago 2
@htuosm Keynes was a smart guy, though. A good investor and writer. The only thing wrong with Keynesianism is that he isn't around to apply it. Recall that Keynes said deficit spending only worked after a SURPLUS was run by the government during good times. We were $10 trillion in debt in 2008, so the government was not following Keynes. Congress and the Fed butchered Keynesian theory to suit their selfish desires -- spending all the time, which is immoral when taxpayer money is spent unwisely.
DexterHaven49 9 months ago
@DexterHaven49 If that's true it's kinda too bad for the guy that his name got attached to their wacked-out version of things--still, it seems to me that he believed that government could and should be in control of these kinds of things. That's unfortunately incredibly short sighted, so maybe he deserved what he got after all. There is just no reason to believe that government is ever going to do a good job of price-fixing any part of the economy.
htuosm 9 months ago
@htuosm Keynes was the #1 student at Eton, a top English prep school. He got a scholarship to Cambridge, where he majored in math and was elected to the secret society The Apostles of Reason, where he debated Bertrand Russell, Lytton Strachey, etc. He was England's delegate to the Treaty of Versailles confab, after which he wrote a book foretelling a worse regrouped Germany ahead, The Economic Consequences of the Peace. He was not for price controls but for wise planning. He would adapt today.
DexterHaven49 9 months ago
@DexterHaven49 (wikipedia)"He proposed the creation of a common world unit of currency, the Bancor and of new global institutions — a world central bank and the International Clearing Union". Granted, I haven't studied him in detail, but it seems to me he made a very common mistake. Smart people often think they are smart enough to guide/direct/regulate/whatever a nation's, or in this case, all the nations of the worlds', economies. Simply believing that is a fatal flaw--no one is that smart.
htuosm 9 months ago
01:03:15 "The Federal Reserve is going to start buying our bonds, and there's going to be a currency crisis"
Well, here we are two years later, and sure enough, Peter Schiff was RIGHT AGAIN!
CurtHowland 9 months ago 3
why doesnt the govt hire him?
morbadaso 9 months ago 3
COMMON SENSE GENIUS
flyinbry 9 months ago 37
genius
defgill 9 months ago 2
"That's how the fed uses your money. Hiring people to dislike Peter Sciff videos." Evil knows no bounds....
9999necron 9 months ago 6
Bernanke & Greenspan must be mentally `deficient` if they believe that a nation can live `above` it`s income. The British had an Empire that was 1/4 of the worlds land area; where is it today? It `collapsed`, & the US Empire will "go the same way" . The international money markets are not easily `fooled` by the `credit card` economics. The world will stop using the US$ and start to use the Euro,Chinese,Indian,Russian & Brazilian currencies, as well as Gold & Silver. US has committed suicide !
terrygand 9 months ago 3
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154AngelicaFowlersde 9 months ago 12
I don't want my tax dollars to pay profits to private entities but government services offered to me. Surely that's not something unpatriotic to ask? And how about getting a tax break for not paying this profit to private entities? No taxation without representation. The Fed is private. Why are my tax dollars going to its shareholders? What am I, a slave? If I don't want a Toyota I just don't buy one. Why am I being forced (thru taxation) to buy into this FED inflation?
BlancGivre 9 months ago
@BlancGivre we are slaves. The moment you wake up to that is the moment you'll be able to begin to take those chains off of you.
steamidjf 8 months ago
Comment removed
BlancGivre 9 months ago
This is what Peter and most people don't understand. ...The point of the United Nations was to end national sovereignty. America can never transition from a service sector economy to a productive economy because that would mean American sovereignty. This is not part of the New World Order. That's why the UN was created! This is why China received such heavy investment in manufacturing from Western bankers....they created modern China, this plan was initiated in the 1930s...NAFTA, GATT, sealedit
dayne201 9 months ago
Thank you, Peter !
tropicalrooster 10 months ago
How much of what he predicted here came true?
KripkeSaul 10 months ago
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kylextown24 10 months ago
"Anyway, do I have time for any questions"?
"Oh."
"That's it."
Lmao.
Gamezero05 10 months ago
FB valuation is almost same as Goldman Sacs and they don't produce anything either, so it seems fair.
cybtb 10 months ago
We're doing better today. Facebook is worth $50 billion and they don't produce a thing.
smasila 10 months ago
@smasila
he mean producing value in general
fb produces value in the sense that in modern society people have less time
to keep in touch and gets information, that's when fb comes into rescue
but service sector mostly consume and don't add value to society
kentkaizen 10 months ago
@smasila they produce a social service.
jmzsoccer 10 months ago
@smasila they provide a service and Facebook does have real value (advertising and such)
DMBHawk 10 months ago
Libya is a distraction
Search For the series
"BUSH OBAMA DESTROYED US ARMY"
eliasmouawad 10 months ago
@eliasmouawad
Actually, Clinton began the destruction of our military might.
RememberForThePeople 10 months ago
@zombiefitnezz i took schiff's advice in 2008 to buy silver. it was around $12. i've tripled my first purchases, doubled my second round of purchases. meanwhile the dow only doubled from 6500 in nominal terms. once it takes it's second big shit within a year from now, the dow will drop hard (in real terms) and my silver will triple/quad once again. good luck defending your argument. and hey, buy domestic stocks. listen to CNBC Fast Money.
tmac9938 10 months ago
Nice ending, Peter lol
pianowitz 10 months ago
Substitute the word "government" in this video for "international banking cartel" and you get much closer to the truth. Watch also: Er3xPXb7aQw
BlancGivre 10 months ago
The intergenerational fortunes of the banking elite and their control of governments are what's interfering with the free markets.
BlancGivre 10 months ago
The Federal Reserve is as federal as Federal Express. -Eustace Mullins The banks caused the money supply to increase and create bubbles! The Federal Reserve is not the Government Peter!
BlancGivre 10 months ago
@BlancGivre creation of the federal reserve in 1913 signed by Woodrow Wilson. The Fed is not a government entity??? oh, really? Sure, technically the fed is not part of the government, but in all essence, they are one in the same...that's what Pete meant. The banks creating money supply is directly related to the government selling them the bonds, to "monitize the debt". The government and the federal reserve cycle the same people through. The fact that the fed is private is actually irrelevant
tonyg0123 9 months ago
@tonyg0123 If the FED wasn't private, the taxpayer wouldn't have to pay the FED shareholders profits on dollars creation thru taxation to repay gov bonds, surely you understand that? What are Gov bonds if not taxes to pay later? If you don't know who the FED shareholders are, I suggest you read Eustace Mullins.
BlancGivre 9 months ago
@BlancGivre The problem is that if the fed was nationalized the government will have even more free will to print...which could be much worse than where we are at now. I'll send you a link where Peter breakes down the fed a little bit more than he does in this speech and talks about the repurcussions of ending the privatization of the fed.
tonyg0123 9 months ago
@tonyg0123 I agree with you that I don't want the US to be milked either by congress or the international banksters. I guess, then, what we're saying is that we need to go back to a gold standard, but then again, it is the collusion between same banksters and government that got us out of the gold standard in the first place. The collusion between banksters and gov is ultimately the problem. I understand that no human system will ever work ultimately and that we're condemned to re-invent always.
BlancGivre 9 months ago
@BlancGivre couldn't have said it better myself!
tonyg0123 9 months ago
@tonyg0123 HI can you pls send me the link also about Peter talking about the repercussion of ending of privatisation of the fed? My view though on nationalizing the Fed is for it. What I see now being played is the blame game on whose fault are the recessions. But if the gov has the control over the prinitng of money, it wouldnt have to print to much of it since its not paying any debt. Additionally, if its on gold standard it would limit their power to print. Gov can be blamed if sumthns wrong
101simar 9 months ago
@101simar i will send it...and you are talking about the government control of the fed while we are back on the gold standard...then that's a different story altogether and may be the best option to restore some fiscal sanity within this country
tonyg0123 9 months ago
@101simar instead of me sending the link, just type in "peter schiff ellen brown" and it should be the first video that pops up...it is about 8:30 long and is in 2 parts. Schiff also brings up the repurcussions of nationalizing the fed numerously on his radio show...schiffradio(dot)com...you can download daily shows and listen for free without commercials.
tonyg0123 9 months ago
@tonyg0123 cont. plus there wouldnt be any income tax. any thoughts?
101simar 9 months ago
40 keynsians have watched this (so far)
4nd0mr 10 months ago 91
@4nd0mr 44 now
dc01gtr 7 months ago
@4nd0mr Lets hope they learned something. ;-)
mokum777 6 months ago
@zombiefitnezz
The dollar would have crashed in '08 had world investors recognized in '08 that US bonds are junk. The dollar would have crashed in '09 had world investors recognized in '09 that US bonds are junk. It's simply a question of when they stop throwing good money after bad. Schiff explains all this in great detail.
Keynesian zombies have no idea why anything happens, so why should we care about their silly objections?
twk373 11 months ago 4
Alan greenspan and Ben bernanke hired a team and created multiple accounts to dislike this video. That's how the fed uses your money. Hiring people to dislike Peter Sciff videos.
JosephSolomonUS 11 months ago 91
@JosephSolomonUS Really? They could only afford to hire 43 dislikes. Well that actually isn't that absurd but you get the point.
1 dude could do that in 2 hours. Hired a team ...ohfuckyoucrazy.jpg
johnaiton 9 months ago