Ben Bernanke and the collapse of the dollar....

[SomeBoredGuy94]

thats it im moving to italy

[BudWiser999]

Bernanke should be given his walking papers. And, how about a NON-JEW for once next time?

[BudWiser999]

A national currency backed by NOTHING is worth NOTHING!

[dconjar]

It's happening right now, people! The Fed cut interest rates to zero and the dollar is already dropping like a stone. Just wait til the deleveraging is over...

[mulukchuwen]

Diminishing lifestyles: GOOD. This is what I had on my mind for almost all my life now. I always knew you didn't need a sporty new car or a big house or even a pot to piss in. Just commercialized junk to me. But beware foreign markets: looks like your veins are next for the big economic parasite to come suck on. If you don't, you'll eventually loose and loose big. All empires have crashed historically for a reason.

[vidfreak56]

Also, I think this'll open peoples eyes to POPULATION CONTROL :). One reason why inflation is so high is because of our population. Close the damn borders all ready, its getting very much out of hand. China's GDP per capita is about 5000+, and they still have rampant unemployment and over 80 million people are in poverty. A direct result of overpopulation.

[RoniCMaster]

@vidfreak56 80 million in poverty? That's pretty small for a country of 1.3 billion people.

[vidfreak56]

@RoniCMaster Even in a population of 1 billion 80 million people is a lot. And the reason for the unemployment this is overpopulation. Not enough jobs to fill with the number of people...alot of which are old. One reason poverty results is when you have too many people competing for jobs in specific sectors w/o education to help channel some of those workers to other areas. Too much population for a given environment = overpopulation. Even if that number is small compared to the whole.

[RoniCMaster]

@vidfreak56 Considering that the the number of poor and unemployed used to be in the hundreds of millions just 20 years ago, I'd say they've made good progress. I know 80 million sounds like a lot but that's just 0.06% of the population. And I doubt China is anywhere near overpopulated with the continuing urbanization and advancement in food, energy and clean water production. China is still able to provide for its people and for the projected increases in population in the future.

[vidfreak56]

@RoniCMaster 80 million btw is probably an underprojection...ill bet the number is higher depending on how you define the poverty line. Overpopulation happens when an environment has too many ppl in demand of resources. This is what happens in market places. When jobs are too few...its overpopulated. This is especially true when land is sold. Many chinese have to live with family or in cramped corporate living units. The reason for this is overpopulation.

[RoniCMaster]

@vidfreak56 Well, whatever's the numbers, show the statistics. Living with family is a Chinese tradition. This is common in the countryside and a family of 3 generations under one roof is considered exemplary. As for life in the cities, the reason why many lived in cramped housing is cost opportunity and most who live this way are migrant workers. In Chongqing for instance, migrant workers mostly sleep in cramped housing, packed like sardines, for 1 Yuan/day despite having a pay of 40 Yuan/day.

[vidfreak56]

@RoniCMaster Hah ...tradition? So they choose to live this way? ROFL. I dont buy that, as reality proves otherwise. Business simply cant afford to pay people enough money and the infratstructure doesnt exist to allow people affordable housing. Its more cost effective means people are forced to live in cramped quarters because they cant afford to live either in their own space or on their own land. And what do you think will happen when standards rise? Theyre in for a shock.

[vidfreak56]

If people are really worried about the value of the dollar, invest in highly liquid commodities, like gold for example. Right before the sh*t hits the fan, emmigrate to another region and convert to their monetary standard.

For the rest of us, we simply need to start producing more affordable commodities here. Especially what we rely on...oil, maybe ethanol...fuel. Food for US. Fad Clothing and tech. can wait, and will have to, for us to bounce back. Oh yeah and maybe the feds need to go.

[jessicamaybe]

Who kept the US economy going? I know, I know!! The Mises Institue!

[Mike1977a1]

Im British & well educated but i have relised that we have all been living a dellusion.

I will have to start with nothing, and move into a house under worse conditions.

Its the end of the Thatcherite & Reganite Dream HAHA

[mulukchuwen]

Big deal. You could also live in a kohte or a tipi just fine, and it probably wouldn't hurt you one bit. Go cry me a river. I almost wish I could red-mark that comment, but someone already beat me to it.

[mike520784]

look...currencies sometimes collapse! the pound collapsed in the 1980's. By 2006 the pound was one of the strongest cuurencies in the world. Now its dropping again. Devaluation helps the deficit. Eventually it will come back. Don't panic. Americans panic to much! Don't panic stay calm. Its not the end of the world. Breathe the air ...money is not everything.

[fansanx]

this is from a dutch documentary "de dag dat de dollar valt"

[MackzeKnife]

If oil is traded in dollars, other countries have to buy up on the dollar increasing its value. If OPEC switches to the Euro this is going to come sooner than later.

[kingobnoxious]

The Australian dollar has surged above $US0.9400 for the first time in 23 years after the head of the US central bank said the US economy had worsened

[alanhowitzer]

Anybody read Crash Proof?

[julebuggy]

Hells yeah. Good book. He touts his brokerage quite a bit, but hey he's a capitalist :).

[alanhowitzer]

Scary stuff. If it goes the way he's predicting, we're in for some real tough times ahead.

[jenny50sgirl]

Great Depression Number Two... Me and My Brother said we are gonna just Garden for ourselves haha =) But really... the Depression is somewhat already beginning =/

[alanhowitzer]

We're all really screwed. I think the only people who realize this are Mr. Shiff, the people watching this video, and a couple dozen other people.

[returntoiceland]

peter schiff is a god

[darliegoddess]

That was perfectly put!  Ron Paul has been telling us this all along !

[PismoPam]

That was terrific, thanks so much for taking the time to edit it so well. Hearing people from other countries gave it much more authority.

[sixfouimpala]

damn war now we all have to suffer for it