Small businesses don’t benefit from overvalued to the degree of the Wal-Marts of the world, but the loss of U.S. Jobs and resulting shrinking markets hurt small businesses more. An Inflation-Neutral Balanced Trade System (BTS), inspired by Warren Buffett’s 2003 Import Certificate Plan is introduced at the top of page 4 of the Pdf, which is available at:
blacks should be prohibited from having any power, and jews from being ceo or managers in any bank... really they together cant get their hands off destroying mankinds
Hay, Ron Paul was my choice too, but anti-globalist he was not. Neither is Peter, he is only another rich guy wanting a seat in the U.S. Senate. Are you concerned about the markets or the country. If your answer is the markets, than Peter is your man.
THIS WAS an awsome video Schiff. Now what you need to do is post another video conveying the opposite of what you just said to please those who insist on keeping their heads in the sand. A new sticker's covering up Obama 08' stickers. Later.
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Schiff...
If what you are saying is correct, then why didn't the American economy turn up by the end of Hoover's presidency? Or by the end of Bush's?
It's because you're wrong in your overly simplistic view of how the economy works.
The economy goes through periods of prosperity and periods of recession. The policies the government employs in periods of prosperity are not the policies the government should employ in periods of recession.
It's easy to demonstrate how many jobs were saved by the Obama stimulus plan. You take the curve representing the change in employment for every dollar of stimulus at the current multiplier from the current unemployment level. Then you calculate what the rate would be with and without the stimulus. You are truly ignorant.
Back to my original post. 10% of the world's population can generate all the goods and services required by 100% of the world's people.
I'm not convinced that gold is any better than fiat money. It all depends on trust. As long as people think currency has value, they will honor it, if they can also use the currency and get what they want with it. It is as good as the "trust" people have in it. Problems arise when authority prints too much of it.
looks like those obama slaves are attacking even Peter's youtube channel.... I watched 4 videos on youtube with smooth download speed and no problems, but when I started watching this video download became choppy and half of the previous one!
What Schiff is saying and has been saying for a while is in fact that the US is driving the entire world economy into the big debt hole. It is every world citizen´s job to stop this development. Therefore, everybody needs to get involved and help the Americans take back the money which the criminal bankers have stolen from them.
By the time you would have to rely on your gold or silver or platinum or whatever to purchase goods and services, or to trade for a currency that would be accepted by anyone, well, it seems to me that would be when total anarchy had set in. The only way to use the gold or silver or whatever would be to move to another country, with your gold, that had a working currency. How would you get there?
The time is not too far distant. Everyone has their opinions. But these trends are not wrong. There will be big problems in America (unprecedented) within the next 24 months. God help us.
Schiff may or may not win... If he does not, it is because the people are a bunch of zombies that cannot see or accept the fact that America is no more! Peter along with many others ALWAYS speaks the truth... and like the saying goes... THE TRUTH DOES HURT!!!! Whether we like it or not.... IT IS WHAT IT IS!
Its always hilarious to read how people waste their time trying to justify wrong and hipocricy over truth and patriotism. Mr. Schiff along with many other great humble people have been speaking about the dollar collapse for YEARS!!! Just because it is happening and many of you are in denial, doesnt mean that the man is a rat who would like to see America and its monetary system fail... This was MEANT to happen! The government has destroyed our country! Think what u may... The truth stands!!!
Peter has officially gone of the deep end. He is panning to the Extreme Lunies "the glen beckers". "Obama is destroying jobs" ???? Please..... Peter is now going after the Fox News Junkies. I don't think Peter is running to win the election. He is deliberately destroying his campaign going after the "Luni" voters.
He certainly is doing something about it. It's easy to say "do nothing" as peter always says when you are not the leader of a trilion dollar economy. By any measure no one wanted to bail out the banks and so forth.. But Like I said as far as Peter is concerned... he's just doing it for the publicity.. he is smart enough to know he is not going to win talking like he is... :
I can only tell you what I think, not what I know. Judging from Obama's background, his education, his growing up, I would say he is an ideologue. Brilliant person with no common sense. I had a father like that. Brilliant lawyer, no common sense. Obama wants to right the wrongs, those he thinks he sees. He wants the rich to give it up, and the poor to receive it.
He is failing , miserably, and he has surrounded himself with advisers who all have chips on their shoulders. Socialist, definitely.
I thinks its more important to realize the lack of power any 'leader' of our nation actually has.
No matter how many jobs Obama wants to create, he inherited an economy unconstitutional run by a Federal Reserve, with our Treasury infiltrated by GoldmanSachs ("the brightest and the best") bankers, working for Wall St.
They flex their fraudulent muscles by fearmongering us into giving them 780bil, and most of us are still arguing about bull.
The free market should decide much of the 'policy'.
Interest rates should be decided through market forces.
Too big to fail would never have been a problem without the Fed eliminating fear of failure.
Big banks need to fear failure, with the Fed's "lender of last resort" eliminating the hazard, expect nothing more but more global future economic crisis.
Central banking and their 'fractional reserve' fraud needs to be stopped.
We dont need a central bank. Fed is actually the third central bank in U.S history. The first 2 central banks where abolished by James Madison and Andrew Jackson (also jefferson opposed the central bank). The founding fathers thought a central bank was unconstitutional and inmoral. There was no such thing as "monetary policy" when we didnt have central banks. The free market can handle the monetary system , what we have today is the government controling the monetary system.
How would that work? The free market handling the monetary system? Who would decide ?
How long has this federal reserve been in existence and why did it come into existence in the first place? What failed before we had the current system?
The gold standard is just stupid. you cannot go to the grocery store or the gas station with gold and buy anything. You cannot eat gold.You wouldn't dare keep gold at home if it was valuable and you trust someone to say your gold is safe, that is fiat gold.
That is very true. I have looked up the Fed many times over the years, troubled. Each time I re-read how it works, I came away reassured. But I always went back and looked it up again. What I don't understand mainly is how to get away from it and start something else up simultaneously with getting away from it. Many people can describe what would be better, but no one knows the mechanics of getting there from here.
Its pretty simple, you allow the free market to create its own currencies to compete with the US dollar. It is illegal in the USA to use gold, or gold notes, as tools for purchasing. If there was a company that could provide gold backed notes, easily, cheaply and readily, people and companies would quickly move away from the dollar in favor of a currency actually worth something. You could essentially have a gold "checkbook" or a gold "card" that was ran by your gold "storage bank"
Private sector would produce the money and the consumers would choose the best money. Just like when consumers choose the best plasma tvs from producers, they choose the lowest price and higher quality posible, and the best producers stay in the market. Same thing with money, consumers will choose the money that least loses its value, or the one that gains the most value. The dollar has lost 96% of its purchasing power since 1913 when the third central bank was created, (continue...)
.....if the dollar was competing against other currencies it would lose its market share in a few years since consumers would choose a better currency produced in the private sector. This is precisely the reason the government forces consumers to use the federal reserve notes through legal tender laws giving the gov the monopoly over money, so they can debase the money at will.
Your other question, you wouldnt be carrying around gold you would carry paper currency backed by gold.(contiinue...
...and that is IF the market determines notes backed by gold to be used as money. it could even be money unbacked, simply limited in supply so it could maintain its value, who knows. My point is, if you want a solid currency that can be trusted then let there be competition, not a monopoly called the federal reserve system.
I forget who it was that said, about 10 years ago, that to survive well in this country everyone needs to learn to play the commodities market and learn to speak Chinese. I took a shortcut. My youngest son married a Chinese girl. My daughter. I now have an extended Chinese famiiy, from SoCal to LA to San Jose to SF.
Well educated and well placed, survivors, I will rely on them to know what to do as things deteriorate.
Obama is the sum of his experiences in life. He spent 20 years, they say, in that black supremacist church. That had an effect on him. His college education was provided by liberal professors. His associates including Bill Ayers and people like him, want to change things. Hope and change. He doesn't realize that if he upsets the applecart, the apples all spill out, and no one gets them. He has no business experience. Only community organizer. POS
Louis Uchitelle writes in the New York Times that a carburetor made for $50 at an outsourced location is written off as if it were made for $100 domestically (this is apparently due to outdated statistical methods). Does this mean that -$50 was not factored into GDP as a reflection of imports? If so, this would inflate GDP by $50 every time one was imported.
10% of the world's population can supply 100% of the goods and services required by all the people. This is true if implementation of the latest technological advances in processing and management and transport are fully in play. What are the other 90% of the people going to do to make a living?
That is sort of what is happening now isn't' it?' As people lose their jobs, they no longer can buy as much. Other people lose their jobs because the demand drops.
Yes, and the benefactors of the 10% will realize ever increasing profits versus the bottom 90%. This argues well for increased redistribution of wealth.
A red flag goes up when I hear redistribution of wealth. Who decides who gets what? The man that suggested this 10% idea to me about 12 years ago was a brilliant scientist. Now deceased. A famous man. A mathematician, a chemist, a master machinist, a nuclear physicist, a dosimetrist. Anyway, I asked him what would the other 90% of the people DO? He didn't answer.
Well, it shouldn't. Even if the government arbitrarily decides how to redistrubute some wealth from the top 10% who are getting wealthier to the bottom 90% who are getting poorer, the situation will improve. This is even the case if there is money stolen through fraud, as long as it isn't too much.
With regard to what the other 90% do as their jobs disappear, the answer is they do not work as much, if at all. If there are fewer jobs,then there are fewer people working full-time.
I suppose that at least some of those 90% could get better educated and perhaps begin to export goods or services they create or sell them at home, as long as their products and services are unique and/or uniquely efficient. But, many will be unable to do this.
I suppose some could also move to other countries, but this trend toward increasing automation is seen almost everywhere.
i'm talking about the real world, not your silly hypothetical. In the real world, Americans are losing far more jobs to automation than to foreign countries. Even China has lost manufacturing jobs to automation in the past 10 years.
If you think my silly hypothetical is just silly hypothetical then why bother to engage me in conversation. Besides, your take on the number of jobs lost to automation compared to loss of jobs through comparative advantage in wages is totally asinine
You are truly ignorant as well as a troll. what jobs have been lost to automation in the last 10 years? within the last 10 years how many companies have movied to foregin countries? how many companies within the US hire foregin workers?
Which jobs would offer the most compensation, and which would not. Maybe everyone makes the same wage regardless of whether they "provide" a good or service, or just do busy work. Class distinction???? Egalitarianism>????
I don't have the answers. I don't think you do either.
How do you feel about the wealth of the American Middleclass, being redistributed throughout the third world. A large percent of it going to the coffers of multinationals.
DO NOT TAKE THE SWINE FLU VACCINE. Search FALL OF THE REPUBLIC on youtube. The globalist agenda is set but we have to stop the New World Order. As far as left or right is concerned, there is no right or left only right or wrong. 9/11 was an inside job. Wake up and realize the economic collapse was planned. This isn't conspiracy theory, its a matter of control in the hands of a few wealthy people. Know the truth, infowars . com
I'm not going to post my opinion. Just letting you know that I watched your video. I do have an opinion. But this website is no longer a safe place to communicate freely.
Easy dude, I've no vested interest in YouTube, nor will I defend it. I'm just trying to figure out if I should keep a lid on my radical pro-Constitution/limited govt. opinions.
I'm sorry i'm gonna go with Warren Buffet over anyone else. I think Buffet taking over that train company was genious, and you know what he's gonna make billions from that alone. The US economy will improve. You have to think long term. Schiff is so disingenuous and is anti American improvement b/c he wants the dollar to continue to fall. This way he can make more money on his gold bets. I wish more people could see that. How could something like Gold which is limited be the soln? Inflation!!?
I think i have to explain myself better, going back on the GOLD standard is not the answer. There isn't nearly enough gold for the world to continue economic growth. It is a limited resource, a metal. It all cause inflation. Sure gold will become worth much much more/ oz- maybe over $10,000/oz if we went back on the gold standard. But this won't mean you'll be able to buy more goods. In fact, the price of goods will increase to a point where its at equilibrium level it is today. Its pointless.
There is plenty of gold for a gold standard, it will just have to be revalued. However, a new money standard should be a commodity based standard, not just gold. Inflation is what fiat money supplies generate.
It's also the case that there are supply and demand dynamics that have nothing to do with gold as a unit of money. And governments can always abandon gold standards whenever they want, which is what every government has done, which is why there isn't a gold standard to be found anywhere in the world.
Fiat currency is a a destroyer of capital. It's no coincidence capital goods has been dwindling. Gold standard is far better. There is plenty of gold. Actually under the gold standard, things would be priced cheaper, because it is priced in gold. Even cheaper a century ago under the Gold Standard. I am a believer in all metals such as platinum, silver, gold, copper being money. The values of these would be determined no different than floating exchange rates of different fiat currencies.
The reason for the economic trade imbalance, and outsourcing of jobs isn't due to cheap labor. Cheap labor always existed. It's fiat currency, and the Federal Reserve. Commodity money, or gold standard, silver standard, or anything of that nature is far better for the free market than fiat currency.
The gold standard inhibits inflation. The price of "goods" measured in gold has remained fairly stable over time, the price of goods measured in USD has skyrocketed. Get the point? I doubt it.
You really ought to learn some economics and history before making such ridiculous statements.
@speakupforjustice I agree - it doesn't necessarily have to be gold, but it has to be a consistent, disciplined method. Gold is great because it has a built-in way of being consistent, disciplined, and sound in that it has a natural limited supply. Because of human nature, this limit is needed. One of the main purposes of fiat currency is to make money via lending at interest, which would be very difficult with a gold standard.
Warren Buffet just bought a railroad. What does that tell you? Warren is betting gas is going to go through the roof again. If this happens it will polly be the catalyst that causes the dollar to collapse (much further faster) as well as our economy. But this is just my theory.
I agree with your explanation of why he bought a railroad, I think he knows gas is going up. I disagree however with your assessment is that gas rising will bring the dollar down. Gas is actually rising because the dollar is getting weaker. In reality, oil, gold and other commodities have been rising to preserve their value since they are priced by the dollar and the dollar keeps getting weaker due to printing paper basically.
I agree with what you said. Commodities are dollar based. I just think that high oil prices (like gold) will exploit the dollars weekness. This could be the straw that breaks the back. This is just my prediction, I could be completely wrong. And I hope I am.
Almost all of Americas delivery (infrastructure) system is in the trucking industry. When gas prices go up, everyone invests in the railroads because transportation is cheaper, but it takes longer. If Buffet was expecting an exploding economy why would he invest in a railroad?
40% of the transportation of goods is by rail. Gas prices are down again. He bought it when they were down. Even when Gas prices are down, rail is still cost effective. I think rail is like equivalent to over 100 miles/gallon. Buffet is betting on the expansion of rail, because he sees it as a way to reinvigorate the economy. It would bring in alot of jobs, especially high speed rail, there would be less carbon output. It's a no-brainer that Rail will become huge in the future
I see what you are saying as far as cheaper transportation (freight), I agree. I can also see rail booming in the future as an alternative public transportation system due to the price of gas. However, if gas prices "go through the roof" again, the rail companies will have a near monopoly. This doesn't necessarily mean the economy will be booming, but either way they will stand to make huge profits and this is why I think Buffet bought a railroad.
Thats cool, we are all just speculating. But the last time gas spiked in 2007-8 railroad stocks soared. It does not mean that it will happen this time, but I would put money on it (a dollar). lol
not sure where I stand on this. I don't see much benefit, I mean will it really improve trade and the flow of goods between our neighbors? Aren't there already existing highways that they use now? I would like to see more investment in US infrastructure and high speed rail, rather than worry about something like building yet another super highway. But I do think that we should support our neighbors in trade rather than just rely on China for everything. BTW i don't think see it as NWO.
i agree with u man-i think most of the people on here didn't even know who Buffet was and Schiff for that matter until the recent downturn. they have no clue what they're talking about. they're just following the bandwagon. they don't see up-trends and down-trends as cyclical in nature and their basic idea of research is following what a select few have to say rather than doing their own market research. Buffet could care less what "experts" have to say. He makes billions like its nothing
You should have said, Buffett LOST billions like it was nothing. But when you're "on the team" you'll get bailed out so really, he has nothing to worry about.
You guys kill me. If it wasn't for Gov meddling, he would have owned his HUGE losses from 2008 instead of stuffing them back on YOUR ASS via Gov bailout that helped HIM out huge. I recall looking into that GS deal of his and there was no way I could grab ANY of it. It was not for 'public' purchase, well imagine that
Buffett's companies got no bailouts, stupid. Not one of his companies received a dime from the government. IN fact, he had many billions in cash on hand,. much of which he used to buy those special warrants from Goldman and Wells.
You are truly, truly, truly stupid if you think Buffett received bailout money. lol
First off I am not defending Schiff. He does what WB should be doing but can't, which is doing it without Gov Bailouts.
Secondly WB DID get special treatment, which is why you and I could NOT get into the deal he got, as it was a private placement. If you think his investments in GS and others would NOT have gone BK without Gov bailout, you my friend, are the stupid one. He would have been killed had his buddies in Gov not bailed him out. You just don't get it.
No, you don't get it. Buffett received assurances that the government wouldn't let Goldman or Wells fail in exchange for his several billion dollars he poured into these companies. Anyone with the resources could've done the same thing/.
"Buffet'd co's got no bailout" is what you wrote Zeldo........read the news article on CNBC from GS today...
GS 'apologizes' for being part of the problem and for needing taxpayer money to get bailed out....ditto for AMEX btw.
Stop talking to me Zeldo, you're too dumb to understand the most basic of facts. He DID get special treatment all over the place, and he investments DID get taxpayer bailouts, without which he would have been hammered. Bailout-yes, good investor-no.
Okay, stupid. Let me try to lay this out so that even you can understand it. Goldman and Wells were going to get bailouts anyway. By pouring billions into these companies, he saved us those billions in bailout money. Are you still too stupid to see this?
Buffett is the most successful investor of all time. How else could he have turned $100,000 into tens of billions? Berkshire Hathaway owns ore than 60 companies, including Geico, Dairy Queen, See's Candy, and other household names.
And yet you think Buttett should envy Schiff? lmao Buffett can by and sell thousands of Schiff's everyday. His more than 60 companies are all far, far larger than Schiff's pathetic brokerage. Yet, you act like Buffett's uncompetent.
Buffett says he can't market time, so he routinely takes hits during meltdowns, but always comes out way ahead during the recovery. His most profitable periods are market recoveries. He was in dollars, which went up 31% during the meltdown, Schiff was not.
WB lost 1/2 his wealth in 2008, then got sweet deals from the Gov re: GS that you and I SHOULD have been able to participate in but could not.
As for his rise, sure, sooner or later you'll get 1 or 5 Billionaires out of 100's of millions of people, coming from the rise of a nation (USA) back when it was a real country producing real stuff.......WB got lucky, and then he got 'covered' after losing his ass in 2008. WB is no great investor. He didn't see jack-shit coming.
Buffett didn't lose half his wealth in 08, moron. His losses were merely temporal, as his companies had sound fundamentals and are bouncing back nicely. He even made bets in the US as the markets were meltimg down, which have paid off very, very handsomely. As far as other investors being able to participate, where was their money? Did they have the money, confidence, and insight to do what Buffett did?
Buffett turned $100,000 in his early adulthood into tens of blillions today, stupid.
And if you're defending Schiff, his losses were far, far greater in '08 than Buffett's. Instead of his predicted decoupling, there was ultra-coupling as his foreign stocks were more deeply mauled, and also fell victim to foreign exchange shifts that added another 30% to his losses. I guess he didn't see this coming either.
Schiff's decoupling idea was particularly stupid when you consider that the US is recponsible for 30% of world GDP, and 70% of that is consumption. How can mean
The EU is reponsible for an even bigger share of World GDP and so how was the rest of the world to fair relatively better? It makes no sense.
And back to Buffett, the government did not offer him a special deal to invest in Goldman or Wells, but wanted him and others to pump in money so they (and we, the taxpayers) wouldn't have to.
And are you attributing Buffett's wealth with luck? ARe you a strong EMH adherent?
Peter, great as always. Love your contributions on youtube. My ONLY complaint, and this is minor, is that the mic on your computer is always too hot. This means that your voice peaks and distorts, making the viewing process sometimes annoying and somewhat painful. I know it's a small thing, boo hoo, but if you could turn down the input somehow it would make your videos that much better.
Peter's analysis of the US economy and commodities is correct. However, his infatuation with China contradicts his own criticism of the socialization of the US. The US is moving ever closer to socialism (state ownership of the economy) but China is already there! Not a single square meter of land in mainland China is privately owned; it's all state-owned. Over 50% of all company assets in mainland China are state-owned. Why is he so optimistic about investing in a country that's still socialist?
Source: Chapter I, "Article 10. Land in the cities is owned by the state" of the PRC Constitution. Land cannot be owned in mainland China; only leased from the government for 20, 30, or 50 years depending on compliance with various regulations.
In fact, read the whole constitution if you want to get a better idea of China's political structure. China has come a long way since 1978 - now there's 50% private ownership of company assets and back then there was 0% - but Peter's basic assumption is that the trend of the past 30 years in China will continue and China will become ever less socialist. I consider this assumption to be very risky. I agree with his economic analysis of the US but believe he should analyze China more objectively.
I think they will become increasingly more capitalistic. At least as much as their somewhat low level of democracy allows. They learned from the collapse of DDR almost instantly - there needs to be economic incentive (and they have said that themselves).
There will be a high degree of government control but I do think that this quasi-capitalistic trend will continue.
Oh and by the way... Im trying to make it a habit of thanking ppl for replying in a proper manner without idiotic insults for no good reasons. Thank you ;)
Peter you failed to note that continentals were bought up by many of the founding fathers and revolutionary supporters and made whole when the US Constitution was ratified.
Solar feed in tarrifs, and it won't cost you a thing.
The massive glut of silicone wafers, thinfilm, and everything else to do with distributed solar energy means solars parity with coal is now upon us and after Copenhagan things should begin to get even cheaper .
America is being out done by China on feed in tariffs and along with it their global leadership role.
@abuokab Thiers to many stupid people for an indepent vote to be effective. Most poeple are stuck in the left right paradime. They root for the democrats, or republicans as if one of them are thier favorite football teams in the superbowl, and they dont look at the facts. Most are uneducated when it comes to politics, world agendas. I wish an independant vote was effective.
Hi all. I know this is off-topic but some friends of mine came up with a good 7-minute video on why pot should be legalized. Take a look and if you think its a worthwhile video, send it to as many people as you can. Go up to the search bar and copy and paste these four words in: obama natural medicine Tylenol. It will be the first video that comes up.
Our elected "representatives" know what we the people want them to do, but it isn't in their own best interest to increase tariffs and bring the manufacturing base back to our land. Service sector jobs have all been low-bid to India and Asia already. If we renew our manufacturing base then more people would be able to afford health care. The best social welfare program is a good job. Its all tied together.
Yes the world exploites Chinas overpopulation and uses it for slave labor they make things you like to buy working under very bad conditions just so you can bitch about it. LOL get a life.
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Peter thinks that if you allow capitolizm run free its great for everybody and the nation as a whole.
We tried that for the past 3 decades and all we have now is 1% of the population OWNING 90% of ALL THE WEALTH. That does not work either. What the gov't needs to do is empower SMALL business and curtail BIG business. POWER TO THE PEOPLE. not the rich, which is what is happened. Its screwed up, but you cant keep taking the reins off the rich to try to "get jobs" you will have an elite like now!
Peter is right. Capitalism works if you allow it to work. The gov't killed it when they killed the gold standard and created the federal reserve. Gov't should be taken back down to what it was restricted to in the constituition.
what we need is a revolution. Neither Peter Schiff nor Ron Paul can save us. The system will end up being rebuilt. I'm very afraid of which way we will go when that happens down the road. Start looking for your escape hatch now. I talk with my family about these things. 3 months ago they laughed at me. Its not so funny now that there's people living in tents. The stuff is going to hit in 2010, so if you have any variable rate debt get the f out of it while you still have equity to do so
It’s the Over-valued U.S. Dollar, Stupid!!!
Small businesses don’t benefit from overvalued to the degree of the Wal-Marts of the world, but the loss of U.S. Jobs and resulting shrinking markets hurt small businesses more. An Inflation-Neutral Balanced Trade System (BTS), inspired by Warren Buffett’s 2003 Import Certificate Plan is introduced at the top of page 4 of the Pdf, which is available at:
democrats.waysandmeans.house.gov/media/pdf/111/2010Sept15_Campbell_Submission.pdf
soups347 1 year ago
blacks should be prohibited from having any power, and jews from being ceo or managers in any bank... really they together cant get their hands off destroying mankinds
badsign1980 1 year ago
GREAT VIDEO! Thanks for sharing!
Happy Trading!
StockMarketVideo 2 years ago
@APRtunedAudi what is your basis for less then a year away currency crisis/hyperinflation claim?
yourboycal 2 years ago
Hay, Ron Paul was my choice too, but anti-globalist he was not. Neither is Peter, he is only another rich guy wanting a seat in the U.S. Senate. Are you concerned about the markets or the country. If your answer is the markets, than Peter is your man.
louiethegreater 2 years ago
Why did you hear Ron Paul campaign against the NWO. No you didn't, he mentioned globalism once in his campeign.
louiethegreater 2 years ago
No I am a completely rational sain person. Peter is no different than Dodd both are globalist NWO people.
louiethegreater 2 years ago
Jobs are created abroad because of cheap thirdworld labor.
This guy is a globalst why would anyone vote for him. Dodd is a globalist why would you want another one.
louiethegreater 2 years ago
THIS WAS an awsome video Schiff. Now what you need to do is post another video conveying the opposite of what you just said to please those who insist on keeping their heads in the sand. A new sticker's covering up Obama 08' stickers. Later.
Stockpile1 2 years ago
This comment has received too many negative votes show
Schiff...
If what you are saying is correct, then why didn't the American economy turn up by the end of Hoover's presidency? Or by the end of Bush's?
It's because you're wrong in your overly simplistic view of how the economy works.
The economy goes through periods of prosperity and periods of recession. The policies the government employs in periods of prosperity are not the policies the government should employ in periods of recession.
pnoozi 2 years ago
give obama a chance this job summit will save or create 250,000 jobs.
i think i heard that before somewhere??
cbr6864 2 years ago
Most of those jobs would be saved or created in districts that don't exist, according to the New York Times and the news of the day.
TAMARLANE 2 years ago
i know this administration is a joke
cbr6864 2 years ago
It's easy to demonstrate how many jobs were saved by the Obama stimulus plan. You take the curve representing the change in employment for every dollar of stimulus at the current multiplier from the current unemployment level. Then you calculate what the rate would be with and without the stimulus. You are truly ignorant.
Zeldovich 2 years ago
Back to my original post. 10% of the world's population can generate all the goods and services required by 100% of the world's people.
I'm not convinced that gold is any better than fiat money. It all depends on trust. As long as people think currency has value, they will honor it, if they can also use the currency and get what they want with it. It is as good as the "trust" people have in it. Problems arise when authority prints too much of it.
TAMARLANE 2 years ago
or 100% could produce and we would have a vast surplus.
cbr6864 2 years ago
looks like those obama slaves are attacking even Peter's youtube channel.... I watched 4 videos on youtube with smooth download speed and no problems, but when I started watching this video download became choppy and half of the previous one!
grraadd 2 years ago
What Schiff is saying and has been saying for a while is in fact that the US is driving the entire world economy into the big debt hole. It is every world citizen´s job to stop this development. Therefore, everybody needs to get involved and help the Americans take back the money which the criminal bankers have stolen from them.
Steenville 2 years ago
You were on a roll, firing on all cylinders, Mr. Schiff.
Picknroll6 2 years ago
By the time you would have to rely on your gold or silver or platinum or whatever to purchase goods and services, or to trade for a currency that would be accepted by anyone, well, it seems to me that would be when total anarchy had set in. The only way to use the gold or silver or whatever would be to move to another country, with your gold, that had a working currency. How would you get there?
HeisenbergSleptHere 2 years ago
The time is not too far distant. Everyone has their opinions. But these trends are not wrong. There will be big problems in America (unprecedented) within the next 24 months. God help us.
Picknroll6 2 years ago
Schiff may or may not win... If he does not, it is because the people are a bunch of zombies that cannot see or accept the fact that America is no more! Peter along with many others ALWAYS speaks the truth... and like the saying goes... THE TRUTH DOES HURT!!!! Whether we like it or not.... IT IS WHAT IT IS!
miguelflyat04 2 years ago
Its always hilarious to read how people waste their time trying to justify wrong and hipocricy over truth and patriotism. Mr. Schiff along with many other great humble people have been speaking about the dollar collapse for YEARS!!! Just because it is happening and many of you are in denial, doesnt mean that the man is a rat who would like to see America and its monetary system fail... This was MEANT to happen! The government has destroyed our country! Think what u may... The truth stands!!!
miguelflyat04 2 years ago 2
Peter has officially gone of the deep end. He is panning to the Extreme Lunies "the glen beckers". "Obama is destroying jobs" ???? Please..... Peter is now going after the Fox News Junkies. I don't think Peter is running to win the election. He is deliberately destroying his campaign going after the "Luni" voters.
MrHeavydose 2 years ago
@MrHeavydose
Obama certainly isn't creating an environment for more jobs is he?
NotEasilyRegimented 2 years ago 3
He certainly is doing something about it. It's easy to say "do nothing" as peter always says when you are not the leader of a trilion dollar economy. By any measure no one wanted to bail out the banks and so forth.. But Like I said as far as Peter is concerned... he's just doing it for the publicity.. he is smart enough to know he is not going to win talking like he is... :
MrHeavydose 2 years ago
@MrHeavydose
I agree. I misspoke. He is doing something about it. He is making it much worse. Deliberately.
TAMARLANE 2 years ago
Let me guess why... cause he's a COMMI right?
MrHeavydose 2 years ago
Well obama does hire admitted communists in his administration as advisers. Why would a capitalist need a communist adviser?
zetsway5000 2 years ago 2
He hired Larry Summers one of the two biggest lobbyists for the repeal of Glass-Steigal amendment.
That repeal made possible the pre-1929-like recklessness that led to last year's crash.
And he's Obama's economic adviser?
davematherly 2 years ago 3
I can only tell you what I think, not what I know. Judging from Obama's background, his education, his growing up, I would say he is an ideologue. Brilliant person with no common sense. I had a father like that. Brilliant lawyer, no common sense. Obama wants to right the wrongs, those he thinks he sees. He wants the rich to give it up, and the poor to receive it.
He is failing , miserably, and he has surrounded himself with advisers who all have chips on their shoulders. Socialist, definitely.
TAMARLANE 2 years ago 3
@MrHeavydose
I thinks its more important to realize the lack of power any 'leader' of our nation actually has.
No matter how many jobs Obama wants to create, he inherited an economy unconstitutional run by a Federal Reserve, with our Treasury infiltrated by GoldmanSachs ("the brightest and the best") bankers, working for Wall St.
They flex their fraudulent muscles by fearmongering us into giving them 780bil, and most of us are still arguing about bull.
Treat the symtoms and not the cause....
davematherly 2 years ago
What would replace the Fed? Who would decide our monetary policy without the fed?
TAMARLANE 2 years ago
The free market should decide much of the 'policy'.
Interest rates should be decided through market forces.
Too big to fail would never have been a problem without the Fed eliminating fear of failure.
Big banks need to fear failure, with the Fed's "lender of last resort" eliminating the hazard, expect nothing more but more global future economic crisis.
Central banking and their 'fractional reserve' fraud needs to be stopped.
Monetary policy ?
Credit control.
Slavery.
davematherly 2 years ago
How are interest rates decided through market forces? That makes no sense to me.
TAMARLANE 2 years ago
We dont need a central bank. Fed is actually the third central bank in U.S history. The first 2 central banks where abolished by James Madison and Andrew Jackson (also jefferson opposed the central bank). The founding fathers thought a central bank was unconstitutional and inmoral. There was no such thing as "monetary policy" when we didnt have central banks. The free market can handle the monetary system , what we have today is the government controling the monetary system.
asierra1492 2 years ago 7
How would that work? The free market handling the monetary system? Who would decide ?
How long has this federal reserve been in existence and why did it come into existence in the first place? What failed before we had the current system?
The gold standard is just stupid. you cannot go to the grocery store or the gas station with gold and buy anything. You cannot eat gold.You wouldn't dare keep gold at home if it was valuable and you trust someone to say your gold is safe, that is fiat gold.
NotEasilyRegimented 2 years ago
You clearly don't know much about history or how a gold currency works.
stumbo2w 2 years ago
stumbo2w is right.
we had gold and silver currency.
gold was demonetized in '33, and silver was gone by '72.
Now, gold is only money to banks and govts, not people.
Our cash is nothing more than contracts for debt.
With today's system, debt = money, money = debt.
Precious metals = wealth.
Easily produced, kept, and saved wealth has been removed from the possession of the citizenry.
If we were still on the gold standard, oil would be about $3.00 a barrel.
Gasoline, about 30 cents a gallon.
davematherly 2 years ago
That is very true. I have looked up the Fed many times over the years, troubled. Each time I re-read how it works, I came away reassured. But I always went back and looked it up again. What I don't understand mainly is how to get away from it and start something else up simultaneously with getting away from it. Many people can describe what would be better, but no one knows the mechanics of getting there from here.
HeisenbergSleptHere 2 years ago
Its pretty simple, you allow the free market to create its own currencies to compete with the US dollar. It is illegal in the USA to use gold, or gold notes, as tools for purchasing. If there was a company that could provide gold backed notes, easily, cheaply and readily, people and companies would quickly move away from the dollar in favor of a currency actually worth something. You could essentially have a gold "checkbook" or a gold "card" that was ran by your gold "storage bank"
stumbo2w 2 years ago
Its funny, what you mention is exactly what the world is actually doing, moving away from a dollar and back into gold.
watch?v=AMe_7-hmHHY
stumbo2w 2 years ago
Private sector would produce the money and the consumers would choose the best money. Just like when consumers choose the best plasma tvs from producers, they choose the lowest price and higher quality posible, and the best producers stay in the market. Same thing with money, consumers will choose the money that least loses its value, or the one that gains the most value. The dollar has lost 96% of its purchasing power since 1913 when the third central bank was created, (continue...)
asierra1492 2 years ago
.....if the dollar was competing against other currencies it would lose its market share in a few years since consumers would choose a better currency produced in the private sector. This is precisely the reason the government forces consumers to use the federal reserve notes through legal tender laws giving the gov the monopoly over money, so they can debase the money at will.
Your other question, you wouldnt be carrying around gold you would carry paper currency backed by gold.(contiinue...
asierra1492 2 years ago
:)
I'd rather carry small gold coins like the $2.50 and $5.00 "quarter Eagle" and "half Eagle" from 1907 - 1933.
The most beautiful coin ever by the US Mint.
Today they would be $50 and $100 respectively.
(by weight)
davematherly 2 years ago
...and that is IF the market determines notes backed by gold to be used as money. it could even be money unbacked, simply limited in supply so it could maintain its value, who knows. My point is, if you want a solid currency that can be trusted then let there be competition, not a monopoly called the federal reserve system.
asierra1492 2 years ago
I keep gold at home, and silver too.
I don't offer tours though.
Best thing is - it owes nobody, debt free and tax free.
And when I need to exchange it to any currency, I can do so quickly, anonymously too.
The long trend is always up, and at a rate that stays ahead of all inflating currencies.
The long term dividend outpays bank interest gains, CDs, etc.
There is every reason to quietly roll over your cash based savings into a metals based savings.
No reason not too.
davematherly 2 years ago
go back to your sandbox... and don't interrupt when older (and wiser) are talking.
grraadd 2 years ago
grraadd
True wisdom is when you finally realize that you don't know anything at all, for sure.
TAMARLANE 2 years ago
You disagree with my analysis about "true wisdom". ??
You probably didn't know this, how could you? , but I am a forensic Proctologist. My professional opinion is that you are an asshole.
TAMARLANE 2 years ago
I know a lot of "educated" and "intelligent" people who believe in magic rituals or the power of the picture printed on the piece of paper...
Question is: will Chinese need your expertise?
If not, you will starve... :-P
grraadd 2 years ago
I forget who it was that said, about 10 years ago, that to survive well in this country everyone needs to learn to play the commodities market and learn to speak Chinese. I took a shortcut. My youngest son married a Chinese girl. My daughter. I now have an extended Chinese famiiy, from SoCal to LA to San Jose to SF.
Well educated and well placed, survivors, I will rely on them to know what to do as things deteriorate.
What will you do?
NotEasilyRegimented 2 years ago
By the way, I am Not Eaasily
Regimented too.
Obama is the sum of his experiences in life. He spent 20 years, they say, in that black supremacist church. That had an effect on him. His college education was provided by liberal professors. His associates including Bill Ayers and people like him, want to change things. Hope and change. He doesn't realize that if he upsets the applecart, the apples all spill out, and no one gets them. He has no business experience. Only community organizer. POS
TAMARLANE 2 years ago
Louis Uchitelle writes in the New York Times that a carburetor made for $50 at an outsourced location is written off as if it were made for $100 domestically (this is apparently due to outdated statistical methods). Does this mean that -$50 was not factored into GDP as a reflection of imports? If so, this would inflate GDP by $50 every time one was imported.
OpenYourMindQuaid 2 years ago
Comment removed
GeorgeGeo1980 2 years ago
Foreigners can't donate!
AFRIKTODAY 2 years ago
the Chinese found a way to give money to Bill Clinton
mrmody 2 years ago
Well, you can always "find a way"!
AFRIKTODAY 2 years ago
Speaking of CNBC "Guy's A-Dummy" said that gold is not a commodity! Ha!!!!!
havoctrend 2 years ago
On Jobs.
10% of the world's population can supply 100% of the goods and services required by all the people. This is true if implementation of the latest technological advances in processing and management and transport are fully in play. What are the other 90% of the people going to do to make a living?
HeisenbergSleptHere 2 years ago
BINGO! That's exactly what I've been thinking. Technology now enables few workers to supply the masses.
I guess a simple proof would be the farmers per capita since the invention of tractors vs. ox, more irrigation knowledge, etc.
Our standards of living should be through the roof, but I have a feeling the elite want to keep us as working slaves.
I think we are shifting from lack of production capabilities to lack of resources.
Aggie254 2 years ago
If the 90% could not afford the goods the 10% would not make them.
IWashMyOwnBrain 2 years ago
@IWashMyOwnBrain
That is sort of what is happening now isn't' it?' As people lose their jobs, they no longer can buy as much. Other people lose their jobs because the demand drops.
NotEasilyRegimented 2 years ago
Yes, and the benefactors of the 10% will realize ever increasing profits versus the bottom 90%. This argues well for increased redistribution of wealth.
Zeldovich 2 years ago
A red flag goes up when I hear redistribution of wealth. Who decides who gets what? The man that suggested this 10% idea to me about 12 years ago was a brilliant scientist. Now deceased. A famous man. A mathematician, a chemist, a master machinist, a nuclear physicist, a dosimetrist. Anyway, I asked him what would the other 90% of the people DO? He didn't answer.
NotEasilyRegimented 2 years ago
Well, it shouldn't. Even if the government arbitrarily decides how to redistrubute some wealth from the top 10% who are getting wealthier to the bottom 90% who are getting poorer, the situation will improve. This is even the case if there is money stolen through fraud, as long as it isn't too much.
With regard to what the other 90% do as their jobs disappear, the answer is they do not work as much, if at all. If there are fewer jobs,then there are fewer people working full-time.
Zeldovich 2 years ago
I suppose that at least some of those 90% could get better educated and perhaps begin to export goods or services they create or sell them at home, as long as their products and services are unique and/or uniquely efficient. But, many will be unable to do this.
I suppose some could also move to other countries, but this trend toward increasing automation is seen almost everywhere.
Zeldovich 2 years ago
I see you are at least thinking. I thought I saidm 10% of the WORLD'S people can provide 100% of the good and services needs of the World's peoples.
More education won't change the dynamic. ALL goods and services includes innovation.
The rub comes in when deciding who works and who doesn't work, or who works at tasks assigned by a government "busy work " .
I think people will be utilized to take care of the old, the young, the parks and entertainment facilities, sort of a busy work scenario.
NotEasilyRegimented 2 years ago
i'm talking about the real world, not your silly hypothetical. In the real world, Americans are losing far more jobs to automation than to foreign countries. Even China has lost manufacturing jobs to automation in the past 10 years.
Zeldovich 2 years ago
If you think my silly hypothetical is just silly hypothetical then why bother to engage me in conversation. Besides, your take on the number of jobs lost to automation compared to loss of jobs through comparative advantage in wages is totally asinine
NotEasilyRegimented 2 years ago
zeldovich
You are truly ignorant as well as a troll. what jobs have been lost to automation in the last 10 years? within the last 10 years how many companies have movied to foregin countries? how many companies within the US hire foregin workers?
cbr6864 2 years ago
@cbr6864
>>how many companies within the US hire foregin (sic) workers?
H1B Visa quota for FY2009 = 91,800 visas
mccask13 2 years ago
Which jobs would offer the most compensation, and which would not. Maybe everyone makes the same wage regardless of whether they "provide" a good or service, or just do busy work. Class distinction???? Egalitarianism>????
I don't have the answers. I don't think you do either.
NotEasilyRegimented 2 years ago
How do you feel about the wealth of the American Middleclass, being redistributed throughout the third world. A large percent of it going to the coffers of multinationals.
louiethegreater 2 years ago
I lol'd
soultaker2021 2 years ago
This has been flagged as spam show
DO NOT TAKE THE SWINE FLU VACCINE. Search FALL OF THE REPUBLIC on youtube. The globalist agenda is set but we have to stop the New World Order. As far as left or right is concerned, there is no right or left only right or wrong. 9/11 was an inside job. Wake up and realize the economic collapse was planned. This isn't conspiracy theory, its a matter of control in the hands of a few wealthy people. Know the truth, infowars . com
ohkeepa2012 2 years ago
I'm not going to post my opinion. Just letting you know that I watched your video. I do have an opinion. But this website is no longer a safe place to communicate freely.
Aboxatax 2 years ago
afraid you're gonna end up in a fema camp? HAHA
They'll have to pry the gun out of my cold dead hand before I let them infringe my right to free speech.
cashmny78 2 years ago
Well I don't have a gun. I have a guitar.
Aboxatax 2 years ago
What evidence do you have that this is an unsafe forum?
freesk8 2 years ago
I suppose this website is just as safe as any. But, I've learned that opinions have no value.
Are you defending YouTube by asking me for evidence? I've done my research. And I'm not about to share it with you.
Aboxatax 2 years ago
Easy dude, I've no vested interest in YouTube, nor will I defend it. I'm just trying to figure out if I should keep a lid on my radical pro-Constitution/limited govt. opinions.
Opinions can have value, if they reflect reality.
freesk8 2 years ago
Speak your mind or you will lose the ability to do it.
IWashMyOwnBrain 2 years ago
how the hell will the economy get back up if obama keeps doing the same thing bush did-- we need to stop bailing out the banks
aiG0oChamNa 2 years ago
I'm sorry i'm gonna go with Warren Buffet over anyone else. I think Buffet taking over that train company was genious, and you know what he's gonna make billions from that alone. The US economy will improve. You have to think long term. Schiff is so disingenuous and is anti American improvement b/c he wants the dollar to continue to fall. This way he can make more money on his gold bets. I wish more people could see that. How could something like Gold which is limited be the soln? Inflation!!?
speakupforjustice 2 years ago
I think i have to explain myself better, going back on the GOLD standard is not the answer. There isn't nearly enough gold for the world to continue economic growth. It is a limited resource, a metal. It all cause inflation. Sure gold will become worth much much more/ oz- maybe over $10,000/oz if we went back on the gold standard. But this won't mean you'll be able to buy more goods. In fact, the price of goods will increase to a point where its at equilibrium level it is today. Its pointless.
speakupforjustice 2 years ago 2
speakupforjustice
There is plenty of gold for a gold standard, it will just have to be revalued. However, a new money standard should be a commodity based standard, not just gold. Inflation is what fiat money supplies generate.
EndTheFedRes 2 years ago
It's also the case that there are supply and demand dynamics that have nothing to do with gold as a unit of money. And governments can always abandon gold standards whenever they want, which is what every government has done, which is why there isn't a gold standard to be found anywhere in the world.
Zeldovich 2 years ago
Fiat currency is a a destroyer of capital. It's no coincidence capital goods has been dwindling. Gold standard is far better. There is plenty of gold. Actually under the gold standard, things would be priced cheaper, because it is priced in gold. Even cheaper a century ago under the Gold Standard. I am a believer in all metals such as platinum, silver, gold, copper being money. The values of these would be determined no different than floating exchange rates of different fiat currencies.
PontiffMystic 2 years ago
The reason for the economic trade imbalance, and outsourcing of jobs isn't due to cheap labor. Cheap labor always existed. It's fiat currency, and the Federal Reserve. Commodity money, or gold standard, silver standard, or anything of that nature is far better for the free market than fiat currency.
PontiffMystic 2 years ago
Then what will control the amount of money in circulation?
joelibermann 2 years ago
The gold standard inhibits inflation. The price of "goods" measured in gold has remained fairly stable over time, the price of goods measured in USD has skyrocketed. Get the point? I doubt it.
You really ought to learn some economics and history before making such ridiculous statements.
BrainBuggered 2 years ago
The price of gold can be inflated just like paper can. What we need to do is end fractional banking.
IWashMyOwnBrain 2 years ago
"The price of gold can be inflated just like paper can. What we need to do is end fractional banking." - IWashMyOwnBrain.
Sure it can, IWMOB, just print up some more!
BrainBuggered 2 years ago
The price of gold is inflating every day. Gold is worth whatever two people decide it is worth just like paper or any other commodity.
IWashMyOwnBrain 2 years ago
It is the USD which is inflating every day! It takes more dollars to buy gold. Gold isn't inflating.
Historically, two elements are necessary for hyper-inflation: fiat money and budget deficits.
You need to learn some economics... (and history).
BrainBuggered 2 years ago
You must have read the wrong books.
IWashMyOwnBrain 2 years ago
I'm more in line for this. What could be an alternative? Something like the Ithaca dollars-barter system?
speakupforjustice 2 years ago
@speakupforjustice I agree - it doesn't necessarily have to be gold, but it has to be a consistent, disciplined method. Gold is great because it has a built-in way of being consistent, disciplined, and sound in that it has a natural limited supply. Because of human nature, this limit is needed. One of the main purposes of fiat currency is to make money via lending at interest, which would be very difficult with a gold standard.
rockstar728 2 years ago
Fractional banking is the problem. We need to increse the banks reserves till they are 100% of the money they loan out.
IWashMyOwnBrain 2 years ago
"It's a great article. . ."
What kind of pompous AZZ says that about his OWN article? LMAO
brnoamik 2 years ago
This comment has received too many negative votes show
haha exactly he's all BS
speakupforjustice 2 years ago
brnoamik,
Muhammad Ali (when he was Cassius Clay) said, "It ain't bragging if it's true".
I love that line.
TraderSteveR 2 years ago
Warren Buffet you just got pwned......
mike8903 2 years ago
Warren Buffet just bought a railroad. What does that tell you? Warren is betting gas is going to go through the roof again. If this happens it will polly be the catalyst that causes the dollar to collapse (much further faster) as well as our economy. But this is just my theory.
EndTheFedRes 2 years ago
I agree with your explanation of why he bought a railroad, I think he knows gas is going up. I disagree however with your assessment is that gas rising will bring the dollar down. Gas is actually rising because the dollar is getting weaker. In reality, oil, gold and other commodities have been rising to preserve their value since they are priced by the dollar and the dollar keeps getting weaker due to printing paper basically.
kingofusers 2 years ago
kingofusers
I agree with what you said. Commodities are dollar based. I just think that high oil prices (like gold) will exploit the dollars weekness. This could be the straw that breaks the back. This is just my prediction, I could be completely wrong. And I hope I am.
EndTheFedRes 2 years ago
lol nah he's doing because he thinks the american economy will grown again, so the dollar would go back up, this is more logical
speakupforjustice 2 years ago
speakupforjustice
Please explain about the economy grown again.
Almost all of Americas delivery (infrastructure) system is in the trucking industry. When gas prices go up, everyone invests in the railroads because transportation is cheaper, but it takes longer. If Buffet was expecting an exploding economy why would he invest in a railroad?
EndTheFedRes 2 years ago
40% of the transportation of goods is by rail. Gas prices are down again. He bought it when they were down. Even when Gas prices are down, rail is still cost effective. I think rail is like equivalent to over 100 miles/gallon. Buffet is betting on the expansion of rail, because he sees it as a way to reinvigorate the economy. It would bring in alot of jobs, especially high speed rail, there would be less carbon output. It's a no-brainer that Rail will become huge in the future
speakupforjustice 2 years ago
speakupforjustice
I see what you are saying as far as cheaper transportation (freight), I agree. I can also see rail booming in the future as an alternative public transportation system due to the price of gas. However, if gas prices "go through the roof" again, the rail companies will have a near monopoly. This doesn't necessarily mean the economy will be booming, but either way they will stand to make huge profits and this is why I think Buffet bought a railroad.
EndTheFedRes 2 years ago
If the working stiff can't afford his gas, beer and cigs... then mayhem begins, and if won't make any difference if you own a railroad. imo
aspenmogul 2 years ago 2
aspenmogul
Thats cool, we are all just speculating. But the last time gas spiked in 2007-8 railroad stocks soared. It does not mean that it will happen this time, but I would put money on it (a dollar). lol
EndTheFedRes 2 years ago
@speakupforjustice: What are thoughts on the NAFTA Super Highway???
havoctrend 2 years ago
not sure where I stand on this. I don't see much benefit, I mean will it really improve trade and the flow of goods between our neighbors? Aren't there already existing highways that they use now? I would like to see more investment in US infrastructure and high speed rail, rather than worry about something like building yet another super highway. But I do think that we should support our neighbors in trade rather than just rely on China for everything. BTW i don't think see it as NWO.
speakupforjustice 2 years ago
He just got owned? Look at the price at which Buffett's warrants allow him to buy Goldman and Wells Fargo stick. He's already made billions.
Schiff has had nowhere near the success of Buffett, either in this downturn or career-wise. Buffett is the most successfu investor of all time.
Zeldovich 2 years ago
i agree with u man-i think most of the people on here didn't even know who Buffet was and Schiff for that matter until the recent downturn. they have no clue what they're talking about. they're just following the bandwagon. they don't see up-trends and down-trends as cyclical in nature and their basic idea of research is following what a select few have to say rather than doing their own market research. Buffet could care less what "experts" have to say. He makes billions like its nothing
speakupforjustice 2 years ago
Same for you Speakup,
You should have said, Buffett LOST billions like it was nothing. But when you're "on the team" you'll get bailed out so really, he has nothing to worry about.
You guys kill me. If it wasn't for Gov meddling, he would have owned his HUGE losses from 2008 instead of stuffing them back on YOUR ASS via Gov bailout that helped HIM out huge. I recall looking into that GS deal of his and there was no way I could grab ANY of it. It was not for 'public' purchase, well imagine that
TraderSteveR 2 years ago
Buffett's companies got no bailouts, stupid. Not one of his companies received a dime from the government. IN fact, he had many billions in cash on hand,. much of which he used to buy those special warrants from Goldman and Wells.
You are truly, truly, truly stupid if you think Buffett received bailout money. lol
Zeldovich 2 years ago
Zeldo, shut your dumb mouth.
First off I am not defending Schiff. He does what WB should be doing but can't, which is doing it without Gov Bailouts.
Secondly WB DID get special treatment, which is why you and I could NOT get into the deal he got, as it was a private placement. If you think his investments in GS and others would NOT have gone BK without Gov bailout, you my friend, are the stupid one. He would have been killed had his buddies in Gov not bailed him out. You just don't get it.
TraderSteveR 2 years ago
No, you don't get it. Buffett received assurances that the government wouldn't let Goldman or Wells fail in exchange for his several billion dollars he poured into these companies. Anyone with the resources could've done the same thing/.
Zeldovich 2 years ago
"Buffet'd co's got no bailout" is what you wrote Zeldo........read the news article on CNBC from GS today...
GS 'apologizes' for being part of the problem and for needing taxpayer money to get bailed out....ditto for AMEX btw.
Stop talking to me Zeldo, you're too dumb to understand the most basic of facts. He DID get special treatment all over the place, and he investments DID get taxpayer bailouts, without which he would have been hammered. Bailout-yes, good investor-no.
TraderSteveR 2 years ago
Okay, stupid. Let me try to lay this out so that even you can understand it. Goldman and Wells were going to get bailouts anyway. By pouring billions into these companies, he saved us those billions in bailout money. Are you still too stupid to see this?
Buffett is the most successful investor of all time. How else could he have turned $100,000 into tens of billions? Berkshire Hathaway owns ore than 60 companies, including Geico, Dairy Queen, See's Candy, and other household names.
Zeldovich 2 years ago
good point
speakupforjustice 2 years ago
And yet you think Buttett should envy Schiff? lmao Buffett can by and sell thousands of Schiff's everyday. His more than 60 companies are all far, far larger than Schiff's pathetic brokerage. Yet, you act like Buffett's uncompetent.
Buffett says he can't market time, so he routinely takes hits during meltdowns, but always comes out way ahead during the recovery. His most profitable periods are market recoveries. He was in dollars, which went up 31% during the meltdown, Schiff was not.
Zeldovich 2 years ago
not a chance Zeld.
WB lost 1/2 his wealth in 2008, then got sweet deals from the Gov re: GS that you and I SHOULD have been able to participate in but could not.
As for his rise, sure, sooner or later you'll get 1 or 5 Billionaires out of 100's of millions of people, coming from the rise of a nation (USA) back when it was a real country producing real stuff.......WB got lucky, and then he got 'covered' after losing his ass in 2008. WB is no great investor. He didn't see jack-shit coming.
TraderSteveR 2 years ago
Buffett didn't lose half his wealth in 08, moron. His losses were merely temporal, as his companies had sound fundamentals and are bouncing back nicely. He even made bets in the US as the markets were meltimg down, which have paid off very, very handsomely. As far as other investors being able to participate, where was their money? Did they have the money, confidence, and insight to do what Buffett did?
Buffett turned $100,000 in his early adulthood into tens of blillions today, stupid.
Zeldovich 2 years ago
And if you're defending Schiff, his losses were far, far greater in '08 than Buffett's. Instead of his predicted decoupling, there was ultra-coupling as his foreign stocks were more deeply mauled, and also fell victim to foreign exchange shifts that added another 30% to his losses. I guess he didn't see this coming either.
Schiff's decoupling idea was particularly stupid when you consider that the US is recponsible for 30% of world GDP, and 70% of that is consumption. How can mean
Zeldovich 2 years ago
The EU is reponsible for an even bigger share of World GDP and so how was the rest of the world to fair relatively better? It makes no sense.
And back to Buffett, the government did not offer him a special deal to invest in Goldman or Wells, but wanted him and others to pump in money so they (and we, the taxpayers) wouldn't have to.
And are you attributing Buffett's wealth with luck? ARe you a strong EMH adherent?
Zeldovich 2 years ago
True, they are destroying our country, our capital, our jobs, our freedom!!!
ceasey0xoogurl 2 years ago
Schiff for Senate
jaythizzle1969 2 years ago
blahh
speakupforjustice 2 years ago
If I lived in Connecticut, I would vote for Peter. Anyone at this point is better than Chris Dodd.
olh1152 2 years ago 2
Peter, great as always. Love your contributions on youtube. My ONLY complaint, and this is minor, is that the mic on your computer is always too hot. This means that your voice peaks and distorts, making the viewing process sometimes annoying and somewhat painful. I know it's a small thing, boo hoo, but if you could turn down the input somehow it would make your videos that much better.
adelsmana 2 years ago 2
Peter's analysis of the US economy and commodities is correct. However, his infatuation with China contradicts his own criticism of the socialization of the US. The US is moving ever closer to socialism (state ownership of the economy) but China is already there! Not a single square meter of land in mainland China is privately owned; it's all state-owned. Over 50% of all company assets in mainland China are state-owned. Why is he so optimistic about investing in a country that's still socialist?
rf72e4 2 years ago 3
Id like to see some kind of source on the claim about land.
China WAS communist but come on... Theyve come a looong way since.
mr82769 2 years ago
Source: Chapter I, "Article 10. Land in the cities is owned by the state" of the PRC Constitution. Land cannot be owned in mainland China; only leased from the government for 20, 30, or 50 years depending on compliance with various regulations.
rf72e4 2 years ago 2
In fact, read the whole constitution if you want to get a better idea of China's political structure. China has come a long way since 1978 - now there's 50% private ownership of company assets and back then there was 0% - but Peter's basic assumption is that the trend of the past 30 years in China will continue and China will become ever less socialist. I consider this assumption to be very risky. I agree with his economic analysis of the US but believe he should analyze China more objectively.
rf72e4 2 years ago 2
I think they will become increasingly more capitalistic. At least as much as their somewhat low level of democracy allows. They learned from the collapse of DDR almost instantly - there needs to be economic incentive (and they have said that themselves).
There will be a high degree of government control but I do think that this quasi-capitalistic trend will continue.
mr82769 2 years ago
Oh and by the way... Im trying to make it a habit of thanking ppl for replying in a proper manner without idiotic insults for no good reasons. Thank you ;)
mr82769 2 years ago
then read what Jim Rogers has to say about China.
prplhze2000 2 years ago
This has been flagged as spam show
Best thing the chinese can do is a great Roast Crispy Duck and Pancakes!
Listen to this prick, Who agrees I think he want to be a President, White one, Now Black one, Next one a Jew!
Well ''He Sounds like one, 'Talk Talk blah blah blah !!!
Someone Give Him A Bell End To Suck, This guy does not even breath!
UntouchableStar696 2 years ago
There is no sound money, anywhere.
There is no real recovery, anywhere.
There are only ponzi schemes and central banks, everywhere.
mcgrawtim123 2 years ago 4
Peter you failed to note that continentals were bought up by many of the founding fathers and revolutionary supporters and made whole when the US Constitution was ratified.
dbmdsv 2 years ago
Im no fan of Obama. lol
It looks to me like you were complaining about China makeing products for you. They are the ones being exploited.
Did i misunderstand what you were saying?
IWashMyOwnBrain 2 years ago
You want jobs America?I'llgive you jobs.
Solar feed in tarrifs, and it won't cost you a thing.
The massive glut of silicone wafers, thinfilm, and everything else to do with distributed solar energy means solars parity with coal is now upon us and after Copenhagan things should begin to get even cheaper .
America is being out done by China on feed in tariffs and along with it their global leadership role.
out do the
brotherjupiter 2 years ago
since you are not independent as you claim to be.
I won't vote for you
abuokab 2 years ago
@abuokab Thiers to many stupid people for an indepent vote to be effective. Most poeple are stuck in the left right paradime. They root for the democrats, or republicans as if one of them are thier favorite football teams in the superbowl, and they dont look at the facts. Most are uneducated when it comes to politics, world agendas. I wish an independant vote was effective.
dave0z96 2 years ago 3
Hi all. I know this is off-topic but some friends of mine came up with a good 7-minute video on why pot should be legalized. Take a look and if you think its a worthwhile video, send it to as many people as you can. Go up to the search bar and copy and paste these four words in: obama natural medicine Tylenol. It will be the first video that comes up.
Endoloid 2 years ago
I'll donate again on the 16th. PETER SCHIFF for Senate 2010 !!!
iannetta11 2 years ago
Vote Schiff
MendingMedia 2 years ago
Our elected "representatives" know what we the people want them to do, but it isn't in their own best interest to increase tariffs and bring the manufacturing base back to our land. Service sector jobs have all been low-bid to India and Asia already. If we renew our manufacturing base then more people would be able to afford health care. The best social welfare program is a good job. Its all tied together.
waterdog456 2 years ago
Yes the world exploites Chinas overpopulation and uses it for slave labor they make things you like to buy working under very bad conditions just so you can bitch about it. LOL get a life.
IWashMyOwnBrain 2 years ago
Get a mop.
patriciaredstone 2 years ago
peter schiff is my hero
steveinamerica 2 years ago 2
History never repeats, I tell myself before I go to sleep. - lyrics -- by Split Enz.
halfasheep 2 years ago
What would the transition from a consumer driven economy to a production economy look like? Would we have to hit bottom?
VictoryCough 2 years ago
Good round of commentary Peter.
Nickelodeon2002 2 years ago 2
This comment has received too many negative votes show
Peter thinks that if you allow capitolizm run free its great for everybody and the nation as a whole.
We tried that for the past 3 decades and all we have now is 1% of the population OWNING 90% of ALL THE WEALTH. That does not work either. What the gov't needs to do is empower SMALL business and curtail BIG business. POWER TO THE PEOPLE. not the rich, which is what is happened. Its screwed up, but you cant keep taking the reins off the rich to try to "get jobs" you will have an elite like now!
definca 2 years ago
Peter is right. Capitalism works if you allow it to work. The gov't killed it when they killed the gold standard and created the federal reserve. Gov't should be taken back down to what it was restricted to in the constituition.
lrak185 2 years ago 7
what we need is a revolution. Neither Peter Schiff nor Ron Paul can save us. The system will end up being rebuilt. I'm very afraid of which way we will go when that happens down the road. Start looking for your escape hatch now. I talk with my family about these things. 3 months ago they laughed at me. Its not so funny now that there's people living in tents. The stuff is going to hit in 2010, so if you have any variable rate debt get the f out of it while you still have equity to do so
lilbromarky1 2 years ago 4
Man you got it bad. LOL
IWashMyOwnBrain 2 years ago
What Warren Buffet says is not worth a Federal.
2uberu 2 years ago 2
Steve Leisman. His last name is anagram for Man Lies or Lies Man
Melville10 2 years ago
Yeah like Bernie Madeoff (with the money) lol
IWashMyOwnBrain 2 years ago
Ron Paul and Peter Schiff in 2012!
ronheri 2 years ago 5