Fed Raises Discount Rate - Peter Schiff - 02-18-2010

[TheJonasFrimodt]

peter schifff i wanna have your liiiiefffee !!!!!! most cool man on planet 

[Nikrou]

Full support for peter from NEWZEALAND!

[philotaaveti]

this is tuff to hear this sort of thing

[jhunted7667]

schiff is telling people to save money , but he should tell them in what form , Silver , Gold, commodities

[psychawareness]

The panel looked so fucking scared. It's the first time I've seen them not scoff or smirk at Schiff.

[psychawareness]

Asian chick is yummy looking.

[grams2grammys]

lol @ everyone discrediting him.

history repeating itself?

PETER SCHIFF IS THE MAN

[EMPIRE0FLIES]

I can time the market. I cant time the fed. Somethings brewing.  Theyre buying time.

[nscottfree1]

"Give me control of a nations money and I care not who writes it's laws."

[MrMindsreel]

Help me out here guys, what is going to happen if they don't raise rates? It sounds like if they do it will cost us more to pay on our debt.

[jx14aby]

Or he's outright lying.

Most likely lying.

[jx14aby]

I think Peter Schiff has no idea what he's talking about.

[Tommyfmx]

@jx14aby

I think you have no idea what he's talking about... but don't worry, you'll see.

[jx14aby]

I'm not convinced. He's sounds like nothing more than an economic soothsayer. He call blow all the hot air he wants with not one dime on the line. Just bluster. Some might call it bullshit.

[dontdispie]

Yes but he has been right for the past 15 years. On everything. He either knows something or hes got one heck of a talent for reading tea leaves.

Check out some of the older Peter Schiff videos, they go back for years.

Oh and he manages millions, he has a little more than a dime on the line; look up Euro Pacific Capitol.

[jx14aby]

hIs recommended reading list contains three books by . . . . guess who????

Peter Schiff? Yep.

At $18.00 bucks a pop!

Now I believe him.

[pretorious700]

You couldn't be more mistaken. Why would he put a successful brokerage career on hold for 6 years if he didn't really care about the economy?

Cynicism can be poisonous when it's uninformed.

[Nintendomanwill]

@jx14aby

So because you're not sophisticated enough to understand what Schiff is saying (not that it's complicated, for christ's sake!) he must be bullshitting?

Right. Schiff obviously doesn't know what he's talking about, small increases in the base rate of interest are going to induce the savings America needs even though it's literally been taking money to spend it on accruing...more debt, literally bailing out bankrupt capital ventures that need to liquidate, forcing inflation.He's wrong?

[jx14aby]

I like that: "not sophisticated enough."

[Nintendomanwill]

Yes, it's called English, if you'd like me to call you an idiot in a more articulate way then I will:

You are an arrogant fool who requires this most deserved remonstration for having abrogated the rule that one does not purport to authoritative knowledge in subjects with whose intricacies one is at best, only fleetingly accommodated.

i.e. you're a bullshitter who should learn before telling other people what to think, it's just irresponsible.

[jx14aby]

LMFAO!

[monsieurmitosis]

@jx14aby

By all indications, you are one hell of a popular guy. Judging by the moronicity of your comments, it's not difficult to see why. Get beaten up in the playground much?

[areyouready22]

@monsieurmitosis LOL, great comment! Unfortunately our government has dumbed down people so much that they don't see the things that are as obvious as the nose on their faces.

[JohnnyHorton]

@areyouready22 totally agree.

[undregroundfreedom]

these idiots on this show should get him on more often and fire this anchorwoman

[Dejavo]

:S ?

[27Glory]

Have you ever seen the "deer in the headlights" look. Just watch the faces of the idiot commentators as Peter is speaking. LOL!

[thequietkid10]

could be a deer in the headlight looks, could also be a "WTF is this idiot saying" we'll see how it ends.

[StuGibson]

God, that blonde lady always looks confused...

[radiospirit]

The asian host has cute little bj lips..

Just sayin'...

[93msinclair]

It's true - the US national debt is one giant adjustment-rate mortgage. Of course the mainstream media are oblivious to this, but wait till the currency crisis starts and I bet they'll be lecturing us on what caused it.

[myyootube]

What the NIA has to say - Part One:

The Federal Reserve announced yesterday that it raised the "discount rate" by 25 basis points to 0.75%. This move was meaningless because very few institutions use the Fed's discount window, in comparison to more widely used overnight lending. The current balance of discount window borrowing is only $14 billion, compared to the $1.1 trillion in excess reserves currently being hoarded by banks.

[myyootube]

What the NIA has to say - Part Two:

By the Fed raising the discount rate but not the overnight federal funds rate, they are clearly trying to talk up the U.S. $ and push down gold and silver, without reducing the supply of cheap credit. Considering that gold and silver rose slightly yesterday following the Fed's announcement and held strong today, it is our belief that the market is calling the Fed's bluff and beginning to realize that artificially low interest rates are here to stay.

[AFRIKTODAY]

Who has given the right to an illegal agency like the fed to even " determine the rate of interest" anyway? They are doing an illegal activity; they should be put in jail, all of them and hung by their balls for destroying so much wealth and lives over 100 years!

Only the market should determine the rate of interest; solely the market!

[partyhouse88]

To the people that think they will raise interest rates??? Keep dreaming. That will bankrupt even more banks and many people will not be able to afford their mortgages.

[Exposethefrauds]

Karen Finerman = Failed hedge fund manager. Same with the whole cast of cnbc

[dan0813]

The Fed adds trillions to their balance sheet and cut rates to 0-1/4% and 1/4 raise in the discount rate is supposed to mean something. The Fed will blink when push comes to shove and they will let inflation get out of hand. Bernanke thinks you could of avoided the Great Depression just by replacing all the money that was lost by people in the banks. We are about to see why you couldn't of just print money to replace what was lost during the great depression. Inflation is coming in a big way.

[radiospirit]

@dan0813 For starters, a 3 to 1 dollar devaluation by the end of the year (2010).

[bweazel]

LOL 2:11 She looks like she's never heard anything like this before.

[akathetruthteller]

you know what once they raise the interest rate, peter's argument is done. he would have nothing to say...

[odn1]

@akathetruthteller .

not true because thats when the real crisis will begin, and man will there be a lot to talk about.

[m72mc]

Peter Schiff is the best!

[681observer]

i kinda find it funny, that a few months ago they were all laughing at him.Now there hanging on to every word he says.you can also see a worried look in the presenters face. Who laughing now eh...its no longer can the us dollar collapse, but when

[gregkillborn]

They are not laughing at you anymore Mr DOOM....Peter has more understanging in the market and economics then these people combined! Thanks for your insight Peter and i will continue to check daily for new postings of your powerful words...

[0muffins0]

There was real panic/concern in the eyes of those presenters even though they tried to spin things 'the Fed is responsible' way.

Interesting.

[measax]

Peter is never good on his timing. Would he have expected a deflationary cycle on the dollar in 2007? Initially we'll try to pay off these debts and with a tight economy this will lead to slowing.

[partyhouse88]

asian girl is kinda cute....

[mreisma]

@partyhouse88 all the news channels have prostitues as reporters, its so you believe everything they tell you.

[AFRIKTODAY]

@mreisma

Well, mainstream financial news is akin to XXXFINANCE! Big boobs, nice fleshy body but a fucking empty head full of hot air!

[frugalite]

I don't like this program, never did never will

[Guitarlicks4free]

i love the look on their faces

[sirchilly]

I wonder if this whole segment is not some kind of setup for Peter, it would be easy to make him look wrong for a couple of months with a small increase in interest rates. I suspect foul play!!!!

[sirchilly]

Wow, usually these guys just laugh at Peter, now they are all just nodding their heads looking at each other, Peter FTW, I will be voting for Peter in the CT August Primary

[IWashMyOwnBrain]

The fed sent a message to the world today...I should have guessed this when obama started his fight with the banks....he no longer needs them to launder money in the markets because no more is being printed. Go Dollar Go....

[mfith]

These people are not dumb. They know Peter Schiff is right, probably they knew it all along. It comes down to is, who pays their pay checks. Peter Schiff doesn't work for any media so he can talk the truth, however, people on fast money are controlled to certain extent. I bet you most of them own Gold and Silver. Look at their expression and mood from like 5 months ago til now (when ever Peter came on this show). It seems obvious to me that they acknowledge Peter Schiff is right.

[IWashMyOwnBrain]

But Peter is wrong....The fed just sent a message that it wont allow hyperinflation...Peter expected the fed to let inflation get out of control...

[tyronebiggums3]

To put this "strong" or "rising" dollar into perspective, watch this...

watch?v=GR82UUpAjuc

[eesloan4]

Ha, those guys are looking at each other like, "damn can't we cut this guy's microphone; he's making too much sense!" Haha

[IWashMyOwnBrain]

I would say they are thinking dosent he know when hes been beat.

[ric0rich]

I think it is starting to sink in to these clowns on cnbc

[becauseicare2]

I get so sick of hearing, "Well, that's done now"!! They say that every f'ing time fed or congress does something stupid..until the next time they do something stupid that Peter warned them not to do in the first place.. F'ing talking heads!!

[IWashMyOwnBrain]

Peter has said all along the fed rates should be higher.....But now he is mad because they will stop the hyperinflation he has been using as a reason to buy gold......

[ytgv3fc7]

@IWashMyOwnBrain funny, I thought a rate hike less than 5% (500 basis points) would be unable to do any such thing. I'm sure Peter Schiff would have a similar comment.

[IWashMyOwnBrain]

Yes this hike is very small...but the fed will be all over any inflation.

[falconxlc]

Omg, as soon as peter started talking about the fed and debt, those guys were like, get him off the AIR NOW...you could see it in their eye movements @3:58

[IWashMyOwnBrain]

They felt embarassed for him....lol

[Entropy137]

I don't think so. By now I'm sure they know what he's going to say already and they invited him anyway.

[return135]

you guys, clearly the fed is going to do whats best for the american economy now. They've changed i tell ya! Ben Bernanke was right all along! Bahahaha SYKE!

[BanGovernment]

No they're not. Not only the FR is trying to destroy the American economy, the world's economy as well by destroying all other currencies by using the dollar with Fed Rate hikes. Then they'll crash the dollar. The FR is an extreme evil terrorist organization. The bible warns of evil factions from Satan such as this. Please watch this video again and look at the National Dept clock. There's certainly no reversing that number. Buy gold and silver, REAL MONEY.

[return135]

did you not catch the sarcasm in the comment?! at the end of the comment i said "SYKE"

[BanGovernment]

Sorry, my bad.

KILL THE FED.

[sljs1010]

When all these treasuries come due in a year or two, thats when its all going to unravel. Dollar drops gold and silver go up

[Intervene]

LOL these guys are getting so depressed listening to Schiff.

[youthinksoo]

Peter is wrong this time! I am still a big fan, but he is wrong

[Intervene]

How is he wrong?

[RCinPAWA]

@youthinksoo

Could you be more vague?

[morrissey8485]

Give me a break! Can you put up an actual counter argument?! Your post has NO merit without some insight.

[nmreich]

"In the end we are all dead" - John Mynard Keynes

We have 'death-wish' economics.

Schiff may be wrong in the short term or even medium term, but in the end if you own gold and silver they will still be worth something, unless everybody else is dead already.

It's a miserable situation, caused by fraudulent fractional-reserve debt "money".

[ashkenazimindcontrol]

the fed is a one trick pony... print money.

[nmreich]

And to add to that, the definition of "money" has been so bastardized, beaten to a pulp, raped, pillaged and plundered, behaded and mutilated. Those paper things with the all seeing eye on them are not even money, they are DEBT.

Good point. :)

[IWashMyOwnBrain]

Make that two tricks.....

1-print money

2-raise intrest rates