you want something good to happen in the US ... when you get in office propose this : lower minimum wage (5.15 maybe) use the USA's GAS stop getting gas out of Iran or other countries , start producing more foods , toys , more more manufacturing .. oooh and dont tax the industrial companies !!!! and you might have at least a 5% unemployment ! :)
"We tell the Iranians: This is where we think those weapons are, you need to let our inspectors in there. If they dont let us in, just blow the place up. - Peter Schiff November 19, 2009
Sounds a lot like Dick Cheney to me. How 'bout you?
Lol, wow. I dunno, maybe he was just saying shit, I dunno. I just remember him usually saying we should bring our troops home, stop policing the world, etc.
Jobs are created when people invest in labour. When government withdraws funds from the market to spend on unproductive jobs i.e. when govt subsidises waste because it's spending other people's money, they destroy productivity and jobs. Blame minimum wages, boom and bust (the Fed and credit-expansion) and fiscal 'stimulus' for your joblessness.
And blame the bailout of the credit-expansionary banking reime under the Fed for preventing economic recovery by fuellin gluts that clear.
Peter, what happened? "Debunking the Hyperinflation of Peter Schiff and the Gold Bugs?" book was never released? Is it possible that we will not ever see hyperinflation? Have you now changed your mind about gold? Just wondering, I've had it on order for over a half a year.
What I don't understand is why the gold standard was ever abolished. It doesn't make sense to me at all. It does however make sense to me to have something solid to back up the dollar. Right now they are printing money left and right, and are basically just nothing more than IOU'S that the American citizen will have to end up paying for.
Getting rid of the gold standard is the only way to run huge government programs in the red. With a gold standard... once you run out of gold... you run out of money. Well... we can't run trillions of dollars in deficits... the world doesn't have enough gold. So... to retain power... the government had to get off the gold standard to keep up the National Security State back in the early 70's. Well... we all know what happened next... 40 years of booms & bust with a little corruption to boot.
Exactly, however saying it was only a little corruption is taking it easy on them don't you think? HaHa, anyway I think we need to bring back the gold standard so that the money is actually backed with something instead of the future of the American citizens. I'm only 26 and I don't will be paying for the mistakes of the administrations that I couldn't have even voted for, for the rest of my life. The administrartions that I could vote for haven't done any better whatsoever.
I hate to say it... but if you vote DNC or GOP... that is a wasted vote. The day that the rest of America figures that out... that will be the day we get the 'Train back on track'. 2 heads of the same snake. Both run by special interest & both only interested in retaining power. Shakespeare couldn't write a better tragedy.
You are exactly correct. GOP and DNC are two sides of the same corrupt coin. A coin that has become so corrosive, that its mere presence causes detriment to all that are around it. I doubt that people will ever wise up to this truth.
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The only way the "state" get's money is by taxing the people, thereby making it the peoples debt. The government is really good at spending others peoples money, but they're not very good at budgeting that money to make it work in the economy.
You made a non-sequitur. Taxation does not make you the debtor.
Taxation is the coercion used by the state to seize your resources.
It does not make you the debtor.
If mafia enforcers forced you to pay protection so that they could pay the mafias debt, would you be a debtor to their lender? No, you are merely the victim of extortion. This is a separate issue.
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I can understand where you are coming from, but taxes are taken out prior to a person getting paid, or paid into afterward as a "debt" to the government. Taxes are on the books already, and thus a "bill" of sorts, making it a debt. It is possilbe to be the debtor, and the lender, especially in this case. It's like if you borrow money from an account you have been paying into like a 401K. You are your own lender, but you are also your own debtor as well.
The French, back in the '60s, converted all its USD into gold, and encouraged all the other countries holding USD reserves to follow suit. France wanted to destroy the USD as the world's reserve currency. So Nixon renegged on the Breton Woods agreement and the US politicians have been able to print dollars at liberty since.
Yep, and that printing of US dollar at liberty has only made the US dollar go down in value. It is merely a piece of paper, with no backing. It has been nothing more than an IOU for years now, but since the GS was abolished it has caused the dollar to drop in value dramatically.
I just did the math, got statistics from the census bureau, We currently stand at 305,879,801 I did the the math equation, We have all lost pennies more than once right? So if everyone lost 14 pennies at least in the United States, Would be 4 BILLION DOLLARS LOST!!!. Crazy huh. The number could be a lot higher. Thats why politions want your quarters, nickles and dimes. LMAO
Not - really. What is ridiculous Jag is that people like you stick your head in the sand and never ask questions. What is the Balance of Trade? What is our total debt as a % of GDP and where has it been historically? Why did our financial system implode in 2008 and what are they doing to prevent it from happening again. Instead, you'll keep flying your airplane around clueless until one day you wake up and can't afford to buy fuel or spare parts...Good luck.
wow, what a list of personal attacks. Have your graduated from elementary school? We have trade deficit because of Bush, Greenspan and now Obama. Both Bush and Obama are the source of problem. We need someone like Peter Schiff as president not Limbaugh. If you need more info about why our system imploded in 2008 watch Peter Schiff's previous videos, he clearly explain Bush's policies in 2001 and 2002 that lead to 2008 and it is not yet over.
Jag - my bad. I thought your comment was about the vid, but you must have been responding to someone else (everyone else did with your 7 thumbs down). Check out my favorites and when I posted them. i get a little heated when I think someone is dismissing the Austrian point of view as crazy. Take care
No man, I am all for the free market. The comment was meant for TheNewVideo, he wrote that Rush LImbaugh should be the president. He got -10 votes. Thanks for clarification. Take Care. Lets bring America back on track. Vote for Peter Schiff.
He has already explained this.... Peter had prior engagements to attend. Set up well before he was a Senate candidate. If you preach responsiblity... one should act responsible. Peter gave his word... & what a novelty... he kept it.
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Peter, you are fucking moron. Why are you wasting everyone's time telling us? If you're not just running a smear campaigne against Obama, THEN STOP TELLING US AND GO TO THE WHITE HOUSE! You know...where you can actually make a difference!
Peter is running for Senate... in 2010. The next Presidential election is in 2012. I believe Pete is putting his money where his mouth is.... You were saying ??
Oooh...Senate. Yea if we're lucky he'll make some change within the next ten years. He's a damn economist for Christ's sake. He to make an appointment with the president and tell him what's up.
You have got to be kidding.... I'm pretty sure President Obama has seen Peter on the MSM more than a couple of times since the collapse & at least a couple times BEFORE the collapse. Peter's been telling Washington they are "Frakin' up the program" until he was blue in the face. So, he is doing what any Red-Blooded American would do.... He is placing his name, business, reputation, & money on the line. Running for a seat of power to fix what the Politicians broke & refuse to mend.
Sources for what ? Don't you use YouTube ? Type in Peter Schiff was Right... that will 'source' that Pete has been telling EVERYBODY since 2002 that the 'Fit was going to hit the Shan'. Then read 'End the Fed' by Ron Paul... that will source how government screws the economy up. Then look up Nixon's healthcare reform from the 70's... you see how government screwed up the cost of healthcare. Then goto PeterSchiff 4 Senate website. When you're done with small taste... get back to me.
Have you been living in a cave? Sources are everywhere from MSNBC to CNN to Fox. Hell there are youtube clips from 2003 with pundits laughing at and ridiculing Schiff for saying the things he is saying now.
Schiff wasn't the only one saying these things he was the only one caught on tape by the media and you guys are making a personality cult out of it..Weird.You making him out as some genius is stretching it...at the end of the day he buys stocks and sells them finito.
Who is saying he was the only one saying these things? He is simply espousing Austrian School of Economics philosophy on spending and government. There are lots of economists out there who subscribe the Austrian School. You asked for proof about Schiff and no one else. I pointed out multiple sources and answered you directly but, now you want to switch the issue to us making him into a personality cult. No one is doing that. We are only standing behind the a fiscal idealology.
Also, it is not just about him buying stocks and selling them. This is about understanding budgets, too much government influence and getting people to understand complex issues using simple logic and principles. Like I told another poster on here. Try again...lol
Oh really? Tell me when have we truly tried supply side economics. Who is advocating for Corporations to solve problems? I never typed that and please do not put words in my mouth.
Interesting how you leapfrog from issue to issue. First you asked for proof and when I provide it you make a mass generalization about Schiff supporters making him into a personality cult figure. Now you want to attack an ideology with a flawed argument that I have already heard from others and can easily be exposed as flawed.
Corporations wouldn't exist without the Government 'influence'. The Government is what creates the entity known as a corporation and gives them certain protections as such.
And we haven't had anything resembling a free market in most areas of the economy for over a hundred years anyways.
It would be a nice time to notice we live on a planet. Look around. Have you noticed we all breath the same air, stand on the same ground and as far as I know we are all human beings........but that could be debated as I understand it.
War doesn't determine who wins it just determines who is left.
it's amazing the things people will work up in their mind when someone actually comes out to tell the truth.
most of this country today doesn't even believe in the free-market... yet they'll claim that they believe in freedom and liberty. complete insanity.
they put people like Woodrow Wilson and FDR up in high places... yet look what they did to our country. the New Deal destroyed our economy and the Second Bill of Rights was tyranny in disguise. everyone needs to wake up.
Our federal government is no longer federal. It is National. It is not restrained by the Constitution and has assaulted the State's sovereignty at every level.
James Madison warned of the day that members of Congress+ do not follow the laws that they themselves pass. They no longer are the ordinary people governening the ordinary people. It is Aristocracy.
Time to wake up. We lend the government their rights. They don't lend them to us.
End the Fed which prints money for unlimited government.
Logical Fallacy Burden of Proof here. It is not our responsibility to prove he is not using taxpayer money it is your responsibility as the accuser to prove that he is. The guy runs a billion dollar Foreign Fund and is obviously a millionaire while never working for the government in any capacity. How would he be using taxpayer money. Try again...lol
Long term I like gold for now i wouldn't pay over $850 to many trading gold now copper is a better inflation hedge and inventory looks low to me in copper with gold when it gets high banks start dumping it
Interesting perspective. But you are right. By inflating the quantity of money by use of modern money mechanics, the reduction of consumer consumption will not slow down. Its an attempt to mask the recession. Unfortunately it only increases the calamity of the bottom of the recession. And since christmas is around the corner, forcing consumers to maintain and increase the needed cyclical consumption ultimately increases the problem. Get ready for the big money crash crisis.
Schiff the little stock promoter up to the old promotion game for penny stocks.Don't invest in gold its a bubble economy and it is not a worthwhile investment.Schiff why don't you just give up the stock game hustle and help the poor or homeless at the soup kitchen ?
You do realize that gold has been on a bull run since 2001 and is up over 300% since that time. It is a commodity that typically rises when the dollar loses value because demand for it increases. Maybe you should study economics before making such ignorant comments.
Pump Pump Pump that stock Dump Dump Dump that stock when people buy.Lets play pass the debt.Bubble Bubble toil and trouble and around and around it goes.
Peter, You have to stop assuming that the Central bank, EU and America have no clue about what is going on. This is about a NWO agenda that wants to bring about a new economic system with a new geopolitical power alignment and communist control of the markets. The little guy is no longer a player in this new world who you represent
This does not mean do not buy gold; it just means do not buy gold to hedge against inflation. Commodities are very volatile like I said. Currencies are not as volatile because central banks use monetary policy to insure that their value's remain stable. Before The Bretton Woods agreement ended, Gold was directly related to the Dollar because the USD was backed by gold. Today, that is not the case.
Right... Santelli knows what he's talking about? Wasn't that the guy who wanted to blame the entire crisis on "poor slobs who didn't know better than to draw credit"?
Inflation is the increase in monetary aggregates(money supply).
There is a credit contraction from PRIVATE banks to most businesses and individuals. However, these banks are still holding funds(including stocks and other financial instruments) on their books.
That's why your seeing stock prices rising much more(temporarily) than consumer prices.
Good question! Is Peter Schiff a Zionist criminal like the criminals running the Media, the Federal Reserve and the US government? And what does he think about Israel?
I want Peter to respond to these questions, not you. If he doesn't take a position against the Zionist criminals, then I won't support him. I won't support anymore liars!
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do you even know what zionism means?? it means you believe in end times. so im zionist. if you believe the world is gonna end SOMEDAY then you are a fucking zionist. guess hwat retard....almost EVERYONE is a zionist.
No...not everyone. Only crazy people. But if it makes you feel any better, Freedomfighterone and Tommy6238 are just as nuts as you, they just happen to be on the other end of the spectrum. Although I guess I believe the world will end when the sun becomes a red giant. Maybe you have something there.
Then almost EVERYONE are ridiculous and arrogant! This world will go on well after we are gone! Every ignorant generation thinks they are so special that they know everything and the world can't go on without them. This "end times" belief only creates fear, confusion and hate! So many people have ruined their lives and the lives of others because of this belief in "end times". Wake up! I actually believe people are waking up and fewer people believe in "end times". Thanks.
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actually more and more people are believing in the end times. unfortunently for you events as of latly have caused fear and panic and a sense of doom. and how will you know the world will contine after we are gone?? its scientifically proven that eventually the earth will be destroyed. either by nukes,asteroid,the sun,virus,etc.
and by 'end times' i mean end times for us HUMANS.
I am happy and content with my life! Even if the earth is "destroyed" life will still go on. Sadly, people are already preparing for an "end" in 2012. This too shall pass.
Again HUMANS have been praying for the "end" for thousands of years. In my opinion it's a waste of precious time. Be grateful for now! Peace
people who call themself zionists are people who kill thousands if innocent palestinians every year or support aggressive Israel policy. I and freedomfighterone asking about this kind of zionism. Is Schiff proIsrael? Does he want US to continue to support Israel and it's criminal actions?
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give me a fucking break. palestinians 'innocent'?? yeah there innocent alright they have just sworn to destroy israel at all costs. they are both at fault. palestinians have no claim of the land in israel. oh an fyi 'palestinians' are not even a race. palestine does not technically even 'exist'. get your facts straight.
palestinians lived on modern Israel territory before millions of Jews immigrated there and took their land. I don't support Hamas but killing women and children is not something that US should give money and military help for.
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oh but isklam has vowed to destroy isreal!! so isreal is just defending itself FUCK TARD. maybe if the muslim word stops trying to and i qoute "push isreal into the sea" then there would be PEACE.
I know what Zionism means better than you moron! It is the Zionist who control your government, the media and the Federal Reserve. And I want to know what his position is on this. I have the freedom to ask questions, so mind your business retard!
If you think Zionists control world governments and that kind of crap then you are just a wacky conspiracy nut.
Come on people, Peter Schiff is running for Senate. We need people like him in office. If you start talking about zionists, illuminati, reptilians and all that nonsense, people will think Schiff is some wacky fringe canditate. We need normal grass roots rational thinking people to get behind Schiff so he is taken seriously.
You must be one of the Zionist lackeys. Bernanke, Kohn, and Warsh are Zionist criminals working in the Federal Reserve. They have destroyed the American economy and are traitors to the United States of America. I hope Peter is not one of them.
I'm afraid you are out of luck. There are no candidates running or currently serving that believe this nonsense. Not Ron Paul. Not Peter Schiff. Their criticisms of the Fed are based on sound reasoning, not based on the looney conspiracy theories like you find in Zeitgeist or whatever nonsense you choose to believe. Maybe if Alex Jones decides to run, you will have your man.
You are probably a leftist scumbag trying to make real freedom loving Americans look bad.
All you zionist thugs know is name calling. You don't have a leg to stand on because people are waking up to the Zionist sociopaths who want to kill off the world because only they are the real human beings. The hatred against non-Jews that I have read in the Talmud and the Zohar is the worst hatred I ever read in my life. You and your zionist friends are sick people.
Okay, you just revealed your true intent. You don't give a flip about America or the Constitution. Just a moslem radical pretending to be an average Joe American. As though that is going to add credibility to your arguments. What a phoney.
I really don't give a flip about your gripes, I am supporting Schiff. Take your propaganda to a pro Israel board and argue your nonsense there. Maybe you can fool people by pretending to be a Rabbi and talk bad about Jews. You're a tool. LOL
My religion has nothing to do with the truth of the reality that I see. And the reality is that the Zionist are controlling the American government, the media, the economy, the military, educational institutions and are bringing down America as I speak. They are traitors to the United States of America!
Greenspan, Bernanke, Kohn, Warsh, Emanuel, Gensler, Schapiro, Steinberg, Kissenger and Summers are zionist criminals who have made themselves look bad. They are traitors to America.
I am pretty sure Peter is a Zionist. I am. Not all Zionists are criminals. It's like saying that all presidents are christians - therefore Christians are Presidents...you make no sense and come across like a racist.
If you are a zionist, you are a racist criminal and a murderer! Because the zionists are behind 911, the Gaza killings, the Wars in Iraq and Afghanistan, the Vietnam War, the Korean War, World War ii, World War i and on and on and on. Zionist Jews are guilty of mass murder on a grand scale, but God will have His vengeance against you. You wait and see.
If you want to know God's plan for the Jews and Israel, check out John Hagee Ministries. Also read Jerusalem Countdown.
If you are still believe Zionists control the world and our Gov't. Then vote for Peter Schiff. Obama, Reid and Pelosi are bad Zionists, Peter Schiff is a good Zionist.
jtravis282: As a layman, how can I tell the difference between a good Zionist and a bad Zionist? I want to help fight the good fight but I'm not really good at judging people. When it comes to judging I usually leave that to Jesus, Peter, Joseph Smith, and the Scientology god named Xenu. I try really hard but in the end it just feels like I'm at the circus.
Well you have to put it in proper context. I was talking to someone that believes our elected officials are all Zionists. Just doing my part to convince the kooks to vote for Peter Schiff.
I want to get into euro pac very badly, but I have never owned a stock or anything like that before. Anyone know if it is better to get what little i have into it now and gradually add what i can later, or should i save up some more and put a bigger amount in?
Mr Schiff are you a Zionist? What is your opinion on Israel? What do you mean when you say that war is a luxury? Does it mean that you are anti-war only when America doesn't have money?
The real inflation rate in the USA is much higher than reported. This is because other central banks are inflating too so relative to other fiat currencies the USD is maintaining some value as evidenced by the stable range of the USDX. All currencies compared to gold are depreciating. Those who do buy gold are going to be disappointed if they purchased "paper" gold like on the futures market and the COMEX. Word is that there is not enough physical gold to redeem all that paper out there.
Peter, slap me and then answer this, should I be cashing my 401 K (now on the way up) and purchasing gold now? I dont care if its a stupid question. 2nd, where do I go to purchase and in what form? Thanks,
Also, people buy gold in times of uncertainty. That is also a major reason it is so high right now. Gold is very very volatile. I think Peter is pretty much correct in that it will continue to go up, but it really has nothing to do with the dollar devaluing. It has to do with the current global economic crisis.
@jerryjimjoe - Gold is a commodity like other metals that are traded in USD. So if gold is stable at $1000/oz for example, and the dollars values drops by %50, it will now cost you $2000/oz. The value has only changed RELATIVE to the USD but if you live in the states, that should be a big concern. I live in Canada, and if our dollar went up in value during the same period, gold would actually go down in value when measured in our dollars.
Yes, gold is a commodity. Commodities prices are determined through supply and demand. The dollar dropping 50% would not result in a 100% gain in gold unless the laws of supply and demand determine that gold should be valued 100% higher. This is important to understand because if people are under the impression that gold is an index of the dollars performance, then they will be disappointed if people begin liquidating gold and golds price drops. My whole point is it is not what you think
@jerryjimjoe: I think we are both right. You are correct, supply and demand is a big factor in setting prices on individual commodities. However if hyper inflation kicks in and the dollar tanks, you will see a dramatic rise in the cost of all commodities on top of any already high prices from high demand (gold for example). You may have noticed that commodities have gone up more % in USD than they have when priced in other currencies. This is because of US$ value drop not a supply/demand.
you want something good to happen in the US ... when you get in office propose this : lower minimum wage (5.15 maybe) use the USA's GAS stop getting gas out of Iran or other countries , start producing more foods , toys , more more manufacturing .. oooh and dont tax the industrial companies !!!! and you might have at least a 5% unemployment ! :)
rayflava1990 2 years ago
I wonder if Schiffty Pete's call for attacking Iran has anything to do with his prediction that the price of gold will rise to $5,000 per ounce?
AtlasShruggery 2 years ago
I'm pretty sure he's against that. Dunno where you've heard that.
TheZav88 2 years ago
Here's a recent quote from Schiffty Pete:
"We tell the Iranians: This is where we think those weapons are, you need to let our inspectors in there. If they dont let us in, just blow the place up. - Peter Schiff November 19, 2009
Sounds a lot like Dick Cheney to me. How 'bout you?
AtlasShruggery 2 years ago
Lol, wow. I dunno, maybe he was just saying shit, I dunno. I just remember him usually saying we should bring our troops home, stop policing the world, etc.
TheZav88 2 years ago
screw the "dollar" pal, i want a freaking job !!!!!!
203207ab 2 years ago
@203207ab
You want a job? What's so great about a job when the DOLLARS they pay you don't buy anything because they are worthless?
Tyler7692 2 years ago
@203207ab
Jobs are created when people invest in labour. When government withdraws funds from the market to spend on unproductive jobs i.e. when govt subsidises waste because it's spending other people's money, they destroy productivity and jobs. Blame minimum wages, boom and bust (the Fed and credit-expansion) and fiscal 'stimulus' for your joblessness.
And blame the bailout of the credit-expansionary banking reime under the Fed for preventing economic recovery by fuellin gluts that clear.
Nintendomanwill 1 year ago
Peter, what happened? "Debunking the Hyperinflation of Peter Schiff and the Gold Bugs?" book was never released? Is it possible that we will not ever see hyperinflation? Have you now changed your mind about gold? Just wondering, I've had it on order for over a half a year.
DebtIsMoney 2 years ago
I wish i could meet peter Schiff, I used to like movie stars before i heard peter speaking
fox20012 2 years ago 2
What I don't understand is why the gold standard was ever abolished. It doesn't make sense to me at all. It does however make sense to me to have something solid to back up the dollar. Right now they are printing money left and right, and are basically just nothing more than IOU'S that the American citizen will have to end up paying for.
supersambo723 2 years ago
Getting rid of the gold standard is the only way to run huge government programs in the red. With a gold standard... once you run out of gold... you run out of money. Well... we can't run trillions of dollars in deficits... the world doesn't have enough gold. So... to retain power... the government had to get off the gold standard to keep up the National Security State back in the early 70's. Well... we all know what happened next... 40 years of booms & bust with a little corruption to boot.
MrWizenBud 2 years ago
Exactly, however saying it was only a little corruption is taking it easy on them don't you think? HaHa, anyway I think we need to bring back the gold standard so that the money is actually backed with something instead of the future of the American citizens. I'm only 26 and I don't will be paying for the mistakes of the administrations that I couldn't have even voted for, for the rest of my life. The administrartions that I could vote for haven't done any better whatsoever.
supersambo723 2 years ago
I'll back U up... Gold Standard or Bust !!
I hate to say it... but if you vote DNC or GOP... that is a wasted vote. The day that the rest of America figures that out... that will be the day we get the 'Train back on track'. 2 heads of the same snake. Both run by special interest & both only interested in retaining power. Shakespeare couldn't write a better tragedy.
MrWizenBud 2 years ago
MrWizenBud....
You are exactly correct. GOP and DNC are two sides of the same corrupt coin. A coin that has become so corrosive, that its mere presence causes detriment to all that are around it. I doubt that people will ever wise up to this truth.
zae333 2 years ago 2
I also find it hard to understand why the lesser of two evils is a good option.
jcfan42 2 years ago
It's like asking a man... "Would you rather be hung or shot."
Then the man answers... "But, I didn't do anything."
The reply.... "Hey... the choices are limited. Hung or shot."
MrWizenBud 2 years ago
It's not your debt.
Jcolinsol 2 years ago
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How do you figure it's not my debt?
supersambo723 2 years ago
It's the state's debt. You are not the state. There is no state. The lenders have made the self-destructive mistake of lending to a non-entity.
Jcolinsol 2 years ago
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The only way the "state" get's money is by taxing the people, thereby making it the peoples debt. The government is really good at spending others peoples money, but they're not very good at budgeting that money to make it work in the economy.
supersambo723 2 years ago
You made a non-sequitur. Taxation does not make you the debtor.
Taxation is the coercion used by the state to seize your resources.
It does not make you the debtor.
If mafia enforcers forced you to pay protection so that they could pay the mafias debt, would you be a debtor to their lender? No, you are merely the victim of extortion. This is a separate issue.
Jcolinsol 2 years ago
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I can understand where you are coming from, but taxes are taken out prior to a person getting paid, or paid into afterward as a "debt" to the government. Taxes are on the books already, and thus a "bill" of sorts, making it a debt. It is possilbe to be the debtor, and the lender, especially in this case. It's like if you borrow money from an account you have been paying into like a 401K. You are your own lender, but you are also your own debtor as well.
supersambo723 2 years ago
The French, back in the '60s, converted all its USD into gold, and encouraged all the other countries holding USD reserves to follow suit. France wanted to destroy the USD as the world's reserve currency. So Nixon renegged on the Breton Woods agreement and the US politicians have been able to print dollars at liberty since.
GrossMisstatement 2 years ago 2
Yep, and that printing of US dollar at liberty has only made the US dollar go down in value. It is merely a piece of paper, with no backing. It has been nothing more than an IOU for years now, but since the GS was abolished it has caused the dollar to drop in value dramatically.
supersambo723 2 years ago
I just did the math, got statistics from the census bureau, We currently stand at 305,879,801 I did the the math equation, We have all lost pennies more than once right? So if everyone lost 14 pennies at least in the United States, Would be 4 BILLION DOLLARS LOST!!!. Crazy huh. The number could be a lot higher. Thats why politions want your quarters, nickles and dimes. LMAO
9winDuDown9 2 years ago
On that happy note!! LOL!
AldoRama69 2 years ago
if gold is so valuable then why do we need dollars to buy it??????
rosevillefool 2 years ago
nice lol
LookAtTheWookie 2 years ago
Consumption is going up because nobody cares anymore and we just figure Obama will put us all on his wealfare rolls.
So everyone is just spending their money
because no one cares
LookAtTheWookie 2 years ago 4
great, i totally agree.
pak4L 2 years ago
Gold is overpriced
LookAtTheWookie 2 years ago
Quick Pete turn around theres a tsunami coming !!!!!! Only gaging but your right about the financial one coming.
geocom75 2 years ago
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19 seriously bored here and want a guy to come over my place
susanlarissa3228 2 years ago
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History recalls how great the fall can be
While everybody is sleeping the boats put out to sea
Borne on the wings of time
It seemed the answers were so easy to find
Too late, the prophets [profits] cry
The island is sinking let us take to the sky
Ventura Sheehan Perot Paul
Nader McKinney Kucinich Kaptur
Grayson Gravel Gonzalez Clemente
Choate Carter Baldwin Anderson
ryanshaunkelly 2 years ago
What's with his voice though?? He sounds completely stuffed from food and ideas about money.
nalm2025 2 years ago
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Rush Limbaugh for president 2012
TheNewVideo 2 years ago
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AviatorJag 2 years ago
Not - really. What is ridiculous Jag is that people like you stick your head in the sand and never ask questions. What is the Balance of Trade? What is our total debt as a % of GDP and where has it been historically? Why did our financial system implode in 2008 and what are they doing to prevent it from happening again. Instead, you'll keep flying your airplane around clueless until one day you wake up and can't afford to buy fuel or spare parts...Good luck.
badonkadonk34 2 years ago
wow, what a list of personal attacks. Have your graduated from elementary school? We have trade deficit because of Bush, Greenspan and now Obama. Both Bush and Obama are the source of problem. We need someone like Peter Schiff as president not Limbaugh. If you need more info about why our system imploded in 2008 watch Peter Schiff's previous videos, he clearly explain Bush's policies in 2001 and 2002 that lead to 2008 and it is not yet over.
AviatorJag 2 years ago
Jag - my bad. I thought your comment was about the vid, but you must have been responding to someone else (everyone else did with your 7 thumbs down). Check out my favorites and when I posted them. i get a little heated when I think someone is dismissing the Austrian point of view as crazy. Take care
badonkadonk34 2 years ago
No man, I am all for the free market. The comment was meant for TheNewVideo, he wrote that Rush LImbaugh should be the president. He got -10 votes. Thanks for clarification. Take Care. Lets bring America back on track. Vote for Peter Schiff.
AviatorJag 2 years ago
no offense but shouldn't you be Connecticut campaigning?
bencr06 2 years ago
He has already explained this.... Peter had prior engagements to attend. Set up well before he was a Senate candidate. If you preach responsiblity... one should act responsible. Peter gave his word... & what a novelty... he kept it.
MrWizenBud 2 years ago
Great video blog. Keep the good information coming. I am keeping a good eye on what you say. No one else even seems to be talking about the economy!
tempersne 2 years ago
Good one
lmankj 2 years ago 2
This comment has received too many negative votes show
Peter, you are fucking moron. Why are you wasting everyone's time telling us? If you're not just running a smear campaigne against Obama, THEN STOP TELLING US AND GO TO THE WHITE HOUSE! You know...where you can actually make a difference!
Punkandfunk420 2 years ago
Peter is running for Senate... in 2010. The next Presidential election is in 2012. I believe Pete is putting his money where his mouth is.... You were saying ??
MrWizenBud 2 years ago 4
Oooh...Senate. Yea if we're lucky he'll make some change within the next ten years. He's a damn economist for Christ's sake. He to make an appointment with the president and tell him what's up.
Punkandfunk420 2 years ago
You have got to be kidding.... I'm pretty sure President Obama has seen Peter on the MSM more than a couple of times since the collapse & at least a couple times BEFORE the collapse. Peter's been telling Washington they are "Frakin' up the program" until he was blue in the face. So, he is doing what any Red-Blooded American would do.... He is placing his name, business, reputation, & money on the line. Running for a seat of power to fix what the Politicians broke & refuse to mend.
MrWizenBud 2 years ago
Please give me some sources. I want to know. Until you have sources its uncredible.
Punkandfunk420 2 years ago
Sources for what ? Don't you use YouTube ? Type in Peter Schiff was Right... that will 'source' that Pete has been telling EVERYBODY since 2002 that the 'Fit was going to hit the Shan'. Then read 'End the Fed' by Ron Paul... that will source how government screws the economy up. Then look up Nixon's healthcare reform from the 70's... you see how government screwed up the cost of healthcare. Then goto PeterSchiff 4 Senate website. When you're done with small taste... get back to me.
MrWizenBud 2 years ago
Have you been living in a cave? Sources are everywhere from MSNBC to CNN to Fox. Hell there are youtube clips from 2003 with pundits laughing at and ridiculing Schiff for saying the things he is saying now.
daytradernupe 2 years ago
Schiff wasn't the only one saying these things he was the only one caught on tape by the media and you guys are making a personality cult out of it..Weird.You making him out as some genius is stretching it...at the end of the day he buys stocks and sells them finito.
humaner 2 years ago
Who is saying he was the only one saying these things? He is simply espousing Austrian School of Economics philosophy on spending and government. There are lots of economists out there who subscribe the Austrian School. You asked for proof about Schiff and no one else. I pointed out multiple sources and answered you directly but, now you want to switch the issue to us making him into a personality cult. No one is doing that. We are only standing behind the a fiscal idealology.
daytradernupe 2 years ago
Also, it is not just about him buying stocks and selling them. This is about understanding budgets, too much government influence and getting people to understand complex issues using simple logic and principles. Like I told another poster on here. Try again...lol
daytradernupe 2 years ago
Too much government influence? well we tried supply side and it failed,oh I know marauding bands of corporations will solve the problem.
humaner 2 years ago
Oh really? Tell me when have we truly tried supply side economics. Who is advocating for Corporations to solve problems? I never typed that and please do not put words in my mouth.
daytradernupe 2 years ago
Interesting how you leapfrog from issue to issue. First you asked for proof and when I provide it you make a mass generalization about Schiff supporters making him into a personality cult figure. Now you want to attack an ideology with a flawed argument that I have already heard from others and can easily be exposed as flawed.
daytradernupe 2 years ago
Corporations wouldn't exist without the Government 'influence'. The Government is what creates the entity known as a corporation and gives them certain protections as such.
And we haven't had anything resembling a free market in most areas of the economy for over a hundred years anyways.
ZeLVaR 2 years ago 2
Well, put it this way.
There is no need for a God to manage the development of bio-diversity on this planet.
Likewise we do not NEED a coercive state system based on geography for a functional economic system to develop within society.
You are ignoring the necessity of free allocation of resources. This is how order occurs.
Whatever flaws there are in "the free market" the state is not an effective, or humane, solution.
Jcolinsol 2 years ago
It would be a nice time to notice we live on a planet. Look around. Have you noticed we all breath the same air, stand on the same ground and as far as I know we are all human beings........but that could be debated as I understand it.
War doesn't determine who wins it just determines who is left.
Think about it.
CP91311 2 years ago
it's amazing the things people will work up in their mind when someone actually comes out to tell the truth.
most of this country today doesn't even believe in the free-market... yet they'll claim that they believe in freedom and liberty. complete insanity.
they put people like Woodrow Wilson and FDR up in high places... yet look what they did to our country. the New Deal destroyed our economy and the Second Bill of Rights was tyranny in disguise. everyone needs to wake up.
elitebanktyranny 2 years ago 2
thanks for the videos Peter great information
elitebanktyranny 2 years ago
Our federal government is no longer federal. It is National. It is not restrained by the Constitution and has assaulted the State's sovereignty at every level.
James Madison warned of the day that members of Congress+ do not follow the laws that they themselves pass. They no longer are the ordinary people governening the ordinary people. It is Aristocracy.
Time to wake up. We lend the government their rights. They don't lend them to us.
End the Fed which prints money for unlimited government.
elitebanktyranny 2 years ago
Must be nice to fo to Hawaii on tax payer money.
TheNewVideo 2 years ago
He's a private citizen. How is he using tax payer money?
ajpecanic 2 years ago
How do you know he's not?
TheNewVideo 2 years ago
Logical Fallacy Burden of Proof here. It is not our responsibility to prove he is not using taxpayer money it is your responsibility as the accuser to prove that he is. The guy runs a billion dollar Foreign Fund and is obviously a millionaire while never working for the government in any capacity. How would he be using taxpayer money. Try again...lol
daytradernupe 2 years ago
you're an ugly, middle aged faggot! die please. thanks.
blueslady77 2 years ago
he's not that ugly, it's mostly poor lighting.
qwertypipe 2 years ago
He has kids and he's not gay. He is dead on on right in his predictions.
jbutte 2 years ago 2
lol i am going to the fed bank in a couple of days
dukee155 2 years ago
Long term I like gold for now i wouldn't pay over $850 to many trading gold now copper is a better inflation hedge and inventory looks low to me in copper with gold when it gets high banks start dumping it
bilpayne 2 years ago
Untill mr cenk tells me to suck a young turkish dick,I will always take the side of
the honorable geoge bush who has done more for the faggots of this country than any other turkish queers as of late.
I'm still waiting for my blowjob.
And I want a nice job this time,you assholes.
shiddy67 2 years ago
COME TO TEXAS!! WE LOVE YA!!!
SilverWealth23 2 years ago
wow in less than a day schiff gets over 8K views.... good job Peter! keep it up!
vegaspilot03 2 years ago
It's ridiculous that somehow Zionist Occupied Governments, Israel, and Islam got onto the comments page for this video.
Hawaii looks awesome, Peter. Great video!
leemil4 2 years ago
Thanks for the thoughtful video blog from paradise, Peter!
Sentinel4truth 2 years ago
Interesting perspective. But you are right. By inflating the quantity of money by use of modern money mechanics, the reduction of consumer consumption will not slow down. Its an attempt to mask the recession. Unfortunately it only increases the calamity of the bottom of the recession. And since christmas is around the corner, forcing consumers to maintain and increase the needed cyclical consumption ultimately increases the problem. Get ready for the big money crash crisis.
fineesmendez 2 years ago
it means its time to kick us dollers
aforiafori 2 years ago
Schiff the little stock promoter up to the old promotion game for penny stocks.Don't invest in gold its a bubble economy and it is not a worthwhile investment.Schiff why don't you just give up the stock game hustle and help the poor or homeless at the soup kitchen ?
humaner 2 years ago
why dont you find a job abd get off welfare?
dmdum 2 years ago
You do realize that gold has been on a bull run since 2001 and is up over 300% since that time. It is a commodity that typically rises when the dollar loses value because demand for it increases. Maybe you should study economics before making such ignorant comments.
daytradernupe 2 years ago
Pump Pump Pump that stock Dump Dump Dump that stock when people buy.Lets play pass the debt.Bubble Bubble toil and trouble and around and around it goes.
humaner 2 years ago
uh ok...
daytradernupe 2 years ago
No I disagree. USA borrows money at the lowest cost under 4% which every country wishes they could do.
online4now 2 years ago
peak gold is also putting upward pressure on prices
Straightsix76 2 years ago
Peter, You have to stop assuming that the Central bank, EU and America have no clue about what is going on. This is about a NWO agenda that wants to bring about a new economic system with a new geopolitical power alignment and communist control of the markets. The little guy is no longer a player in this new world who you represent
Spurgeon123 2 years ago 2
God bless you Peter Shiff! Keep spreading the truth they will see the light.
ronpaullimelight 2 years ago 2
This does not mean do not buy gold; it just means do not buy gold to hedge against inflation. Commodities are very volatile like I said. Currencies are not as volatile because central banks use monetary policy to insure that their value's remain stable. Before The Bretton Woods agreement ended, Gold was directly related to the Dollar because the USD was backed by gold. Today, that is not the case.
jerryjimjoe 2 years ago
haha as if Schiff needs our money to go to Hawaii...
ashaney13 2 years ago
lol....schiff in hawaii after announcing his candidacy and getting 1 million dollars in donations mostly from youtubers.....hmm.....conspiracy?
wsarris424 2 years ago
big pimpin
stoneeh 2 years ago
Peter I've been consuming like crazy.
You know, all the stuff I think I'll need for a dollar collapse.
EndTheFedRes 2 years ago 6
Right... Santelli knows what he's talking about? Wasn't that the guy who wanted to blame the entire crisis on "poor slobs who didn't know better than to draw credit"?
juujuuuujj 2 years ago
how can you have massive credit contraction and inflation in the same time?
Camulogene1 2 years ago
Inflation is the increase in monetary aggregates(money supply).
There is a credit contraction from PRIVATE banks to most businesses and individuals. However, these banks are still holding funds(including stocks and other financial instruments) on their books.
That's why your seeing stock prices rising much more(temporarily) than consumer prices.
metalfuelandfire 2 years ago
Google Jimmy Carter and stagflation.
ZullGostnu2 2 years ago
The U.S. will become a third world country soon enough.
DefenceSpeech 2 years ago 8
Finally I got some van peter fix.. Been craving for it lol nice holiday btw
bauketek777 2 years ago
Hawaii is over rated and some of its people are extremely racist.
Id go to Bora Bora for the island experience.
@
HyperBorealOperator - Thats YOUR opinion. And the coconut palm has far more uses then snow or mountains. Your statement was horrible.
theserf777 2 years ago
Nice shirt Peter, what course did you play?
rikestard 2 years ago
Thanks Peter.
Enjoy your trip.
McRocket 2 years ago
Hey Peter what the hell happened to your Facebook account?
itachi705 2 years ago
Good question! Is Peter Schiff a Zionist criminal like the criminals running the Media, the Federal Reserve and the US government? And what does he think about Israel?
freedomfighterone 2 years ago
If I remember correctly, Peter has in his library the book the Isreali Lobby.
Chainedorlo 2 years ago
I want Peter to respond to these questions, not you. If he doesn't take a position against the Zionist criminals, then I won't support him. I won't support anymore liars!
freedomfighterone 2 years ago
psycho alert.
capitalismforever 2 years ago
This comment has received too many negative votes show
do you even know what zionism means?? it means you believe in end times. so im zionist. if you believe the world is gonna end SOMEDAY then you are a fucking zionist. guess hwat retard....almost EVERYONE is a zionist.
zackgonnasurvivenwo 2 years ago
No...not everyone. Only crazy people. But if it makes you feel any better, Freedomfighterone and Tommy6238 are just as nuts as you, they just happen to be on the other end of the spectrum. Although I guess I believe the world will end when the sun becomes a red giant. Maybe you have something there.
prplehaze1984 2 years ago
dont be a fool. end times can mean end of life as WE KNOW IT.
zackgonnasurvivenwo 2 years ago
Why do you think I'm nut? I don't support Zionism&Israel as many people around the world.
tommy6238 2 years ago 5
Then almost EVERYONE are ridiculous and arrogant! This world will go on well after we are gone! Every ignorant generation thinks they are so special that they know everything and the world can't go on without them. This "end times" belief only creates fear, confusion and hate! So many people have ruined their lives and the lives of others because of this belief in "end times". Wake up! I actually believe people are waking up and fewer people believe in "end times". Thanks.
roseagain2 2 years ago
This comment has received too many negative votes show
actually more and more people are believing in the end times. unfortunently for you events as of latly have caused fear and panic and a sense of doom. and how will you know the world will contine after we are gone?? its scientifically proven that eventually the earth will be destroyed. either by nukes,asteroid,the sun,virus,etc.
and by 'end times' i mean end times for us HUMANS.
zackgonnasurvivenwo 2 years ago
I am happy and content with my life! Even if the earth is "destroyed" life will still go on. Sadly, people are already preparing for an "end" in 2012. This too shall pass.
Again HUMANS have been praying for the "end" for thousands of years. In my opinion it's a waste of precious time. Be grateful for now! Peace
roseagain2 2 years ago
strange comment for this subject!
Ganbareg 2 years ago
I thought so too!
roseagain2 2 years ago
people who call themself zionists are people who kill thousands if innocent palestinians every year or support aggressive Israel policy. I and freedomfighterone asking about this kind of zionism. Is Schiff proIsrael? Does he want US to continue to support Israel and it's criminal actions?
tommy6238 2 years ago 7
This comment has received too many negative votes show
give me a fucking break. palestinians 'innocent'?? yeah there innocent alright they have just sworn to destroy israel at all costs. they are both at fault. palestinians have no claim of the land in israel. oh an fyi 'palestinians' are not even a race. palestine does not technically even 'exist'. get your facts straight.
zackgonnasurvivenwo 2 years ago
palestinians lived on modern Israel territory before millions of Jews immigrated there and took their land. I don't support Hamas but killing women and children is not something that US should give money and military help for.
tommy6238 2 years ago 3
oh and i don't care that they are not race. They are human beings that killed by zionists. That is enough for me to hate Israel
tommy6238 2 years ago 2
This comment has received too many negative votes show
oh but isklam has vowed to destroy isreal!! so isreal is just defending itself FUCK TARD. maybe if the muslim word stops trying to and i qoute "push isreal into the sea" then there would be PEACE.
zackgonnasurvivenwo 2 years ago
Jews lived under muslims for hundreds of years. Islam became aggresive to israel only after they started genocide of palestinians.
tommy6238 2 years ago
I know what Zionism means better than you moron! It is the Zionist who control your government, the media and the Federal Reserve. And I want to know what his position is on this. I have the freedom to ask questions, so mind your business retard!
freedomfighterone 2 years ago 4
If you think Zionists control world governments and that kind of crap then you are just a wacky conspiracy nut.
Come on people, Peter Schiff is running for Senate. We need people like him in office. If you start talking about zionists, illuminati, reptilians and all that nonsense, people will think Schiff is some wacky fringe canditate. We need normal grass roots rational thinking people to get behind Schiff so he is taken seriously.
jtravis282 2 years ago
Reptilians? Lizard people!? What about lobster people? Now THAT would be scary.
tzankich 2 years ago
You must be one of the Zionist lackeys. Bernanke, Kohn, and Warsh are Zionist criminals working in the Federal Reserve. They have destroyed the American economy and are traitors to the United States of America. I hope Peter is not one of them.
freedomfighterone 2 years ago
I'm afraid you are out of luck. There are no candidates running or currently serving that believe this nonsense. Not Ron Paul. Not Peter Schiff. Their criticisms of the Fed are based on sound reasoning, not based on the looney conspiracy theories like you find in Zeitgeist or whatever nonsense you choose to believe. Maybe if Alex Jones decides to run, you will have your man.
You are probably a leftist scumbag trying to make real freedom loving Americans look bad.
jtravis282 2 years ago
All you zionist thugs know is name calling. You don't have a leg to stand on because people are waking up to the Zionist sociopaths who want to kill off the world because only they are the real human beings. The hatred against non-Jews that I have read in the Talmud and the Zohar is the worst hatred I ever read in my life. You and your zionist friends are sick people.
freedomfighterone 2 years ago
Okay, you just revealed your true intent. You don't give a flip about America or the Constitution. Just a moslem radical pretending to be an average Joe American. As though that is going to add credibility to your arguments. What a phoney.
I really don't give a flip about your gripes, I am supporting Schiff. Take your propaganda to a pro Israel board and argue your nonsense there. Maybe you can fool people by pretending to be a Rabbi and talk bad about Jews. You're a tool. LOL
jtravis282 2 years ago
My religion has nothing to do with the truth of the reality that I see. And the reality is that the Zionist are controlling the American government, the media, the economy, the military, educational institutions and are bringing down America as I speak. They are traitors to the United States of America!
freedomfighterone 2 years ago
Greenspan, Bernanke, Kohn, Warsh, Emanuel, Gensler, Schapiro, Steinberg, Kissenger and Summers are zionist criminals who have made themselves look bad. They are traitors to America.
freedomfighterone 2 years ago 2
I am pretty sure Peter is a Zionist. I am. Not all Zionists are criminals. It's like saying that all presidents are christians - therefore Christians are Presidents...you make no sense and come across like a racist.
Paxilman7 2 years ago
how is he a zionist he is a republican
dukee155 2 years ago
most republicans are zionist.
aren't you for Israel as a country?
Paxilman7 2 years ago
shit i forget zionists are for isreal i havent been looking at isreal to much lol i am for isreal because i am a jew i hate hamass
dukee155 2 years ago
If you are a zionist, you are a racist criminal and a murderer! Because the zionists are behind 911, the Gaza killings, the Wars in Iraq and Afghanistan, the Vietnam War, the Korean War, World War ii, World War i and on and on and on. Zionist Jews are guilty of mass murder on a grand scale, but God will have His vengeance against you. You wait and see.
freedomfighterone 2 years ago
If you want to know God's plan for the Jews and Israel, check out John Hagee Ministries. Also read Jerusalem Countdown.
If you are still believe Zionists control the world and our Gov't. Then vote for Peter Schiff. Obama, Reid and Pelosi are bad Zionists, Peter Schiff is a good Zionist.
jtravis282 2 years ago
jtravis282: As a layman, how can I tell the difference between a good Zionist and a bad Zionist? I want to help fight the good fight but I'm not really good at judging people. When it comes to judging I usually leave that to Jesus, Peter, Joseph Smith, and the Scientology god named Xenu. I try really hard but in the end it just feels like I'm at the circus.
survivor33 2 years ago
Jtravis282: Also, I forgot to add. Israel has armor plated bulldozers. I think they'll be fine.
survivor33 2 years ago
Then they will be well protected from Rachel Corrie copy-cat suicide bombers.
jtravis282 2 years ago
Well you have to put it in proper context. I was talking to someone that believes our elected officials are all Zionists. Just doing my part to convince the kooks to vote for Peter Schiff.
jtravis282 2 years ago
1 Thousands of Palestinians killed every year by Zionists : Check.
2 Billions of dollars of financial support of Israel: Check.
3 Military help: Check.
4 ANY UN sanction against Israel is vetoed by US: Check.
Where is conspiracy? Nobody is hiding it. Israel is criminal state and US should drop any support for them.
tommy6238 2 years ago
you just made me realize I need a vacation. A vacation from EVERYTHING and EVERYONE.
vociti 2 years ago
Take time to meditate.
elboertjie 2 years ago
I want to get into euro pac very badly, but I have never owned a stock or anything like that before. Anyone know if it is better to get what little i have into it now and gradually add what i can later, or should i save up some more and put a bigger amount in?
Cleancutchaos 2 years ago
Mr Schiff are you a Zionist? What is your opinion on Israel? What do you mean when you say that war is a luxury? Does it mean that you are anti-war only when America doesn't have money?
tommy6238 2 years ago 4
yep it is pretty easy to see what is coming
dragonflychainsaw 2 years ago
Enjoy yourself Peter!....you deserve it....the worst is yet to come!
marypoppins2009 2 years ago
Hawaii, Dubai, Sydney, etc...siigh...must be nice. You hiring?
SchiffnShive 2 years ago
I'm on board, do you think Peter needs a personal assistant?
mjharris2407 2 years ago
VOTE 4 PETER SCHIFF For senate
sakura936 2 years ago
Backgrounds
Peter Schiff - Palm trees in Hawaii
Mike Norman - homemade flag background in basement
mjhonsun 2 years ago 3
Look at me! I'm Peter Schiff and I got all these palm trees in the background!
Just kidding. Love ya! I hope you're having a good time out there.
nilesmc 2 years ago
Palm Trees? In CT?
cmcphee 2 years ago
"As you can see, I'm recording this video blog from Hawaii."
nilesmc 2 years ago
its snowing here in edmonton and it hurts to see that warm beach hehe
YllwNinja 2 years ago
The real inflation rate in the USA is much higher than reported. This is because other central banks are inflating too so relative to other fiat currencies the USD is maintaining some value as evidenced by the stable range of the USDX. All currencies compared to gold are depreciating. Those who do buy gold are going to be disappointed if they purchased "paper" gold like on the futures market and the COMEX. Word is that there is not enough physical gold to redeem all that paper out there.
harveybirdmannequin 2 years ago
Schiff was right! how inconvenient
whipthenations 2 years ago
Peter, slap me and then answer this, should I be cashing my 401 K (now on the way up) and purchasing gold now? I dont care if its a stupid question. 2nd, where do I go to purchase and in what form? Thanks,
AZ
AZwheeler 2 years ago
It's getting hot in here. Silver is flirting and doing some heavy petting w/ the $18.00 mark.
lilbitparanoid 2 years ago
passed 18.04 and counting
donniebrasco24 2 years ago
Haha, what a nice place!
KagarBeardtooth 2 years ago
Also, people buy gold in times of uncertainty. That is also a major reason it is so high right now. Gold is very very volatile. I think Peter is pretty much correct in that it will continue to go up, but it really has nothing to do with the dollar devaluing. It has to do with the current global economic crisis.
jerryjimjoe 2 years ago
@jerryjimjoe - Gold is a commodity like other metals that are traded in USD. So if gold is stable at $1000/oz for example, and the dollars values drops by %50, it will now cost you $2000/oz. The value has only changed RELATIVE to the USD but if you live in the states, that should be a big concern. I live in Canada, and if our dollar went up in value during the same period, gold would actually go down in value when measured in our dollars.
theslimeylimey 2 years ago
Yes, gold is a commodity. Commodities prices are determined through supply and demand. The dollar dropping 50% would not result in a 100% gain in gold unless the laws of supply and demand determine that gold should be valued 100% higher. This is important to understand because if people are under the impression that gold is an index of the dollars performance, then they will be disappointed if people begin liquidating gold and golds price drops. My whole point is it is not what you think
jerryjimjoe 2 years ago
@jerryjimjoe: I think we are both right. You are correct, supply and demand is a big factor in setting prices on individual commodities. However if hyper inflation kicks in and the dollar tanks, you will see a dramatic rise in the cost of all commodities on top of any already high prices from high demand (gold for example). You may have noticed that commodities have gone up more % in USD than they have when priced in other currencies. This is because of US$ value drop not a supply/demand.
theslimeylimey 2 years ago