June 24th -- Fed statement, Health care, Citi raises, foresight vs. hindsight

[hallmobility]

No good deed goes unpunished, Peter. You can't just out there and prove everybody else wrong. They reeaally wish you would go away, they can't stand being shown up. That's what happens to overachievers. But if we can get you into the Senate where you can grill Geithner and Bernanke....

[hadenufnow]

Kill the 3000 pg Illegal HC TAX & JAIL Trojan Horse Mandate Bill nobody wants..

Kill the bill..

Vote em out..

nobody wants it..

[isthatfunny]

Peter you are the man,these low level scumbags " analist" that they are?the sqwak on the street is that this thing is only starting to boil,the unbais media hard at work

[genipig213]

Stupid

[johnanthonycarlisle]

who, what?

[johnanthonycarlisle]

mostly good, e.g. Citigroup, Robert Rubin etc; but dead wrong on govt healthcare costs. USA healthcare IS private and everybody loses and the cost is gi-normous!

Look at Sweden. Then for good insurance look at Germany. Then come up with something sensible for the USA, which is a basket case

[handianus]

Just because it's private doesn't mean it's a real free market.

[bodryn]

I married a Canadian and from personal experience I know that for the same amount we spend now, everybody could be covered and not have to risk going bankrupt for a medical emergency. So many lies have been told about Canadian health care for so long that it's like Nazi propaganda in WW2. Lie enough times and people will believe it. Meanwhile people die needlessly and politicians and corporations have blood on their hands. Nuff said.

[itachi705]

If you want to stop lies concerning healthcare, tell the government to shut up. You fucking universal healthcare supporters have no clue as to why the system is broken in the first place.

[bodryn]

Clean up your language or get off the net...

[creten69]

its gotta happen slow,the people are stupid and they are armed.

[auctionmusic]

first, you are such a breath of fresh air, because you simply make sense...

I saw you first on youtube vid where you are arguing with some guy in 2006 about the coming crises and EVERYTHING you said was just right spot on dead right...

Some are calling for you to run for the Senate...PLEASE DONT!...you are what we need the way yu are right now...

I need to listen and absorb what you saying, this is a college education i cant afford to miss....

[AKAGl]

The only way to impact real change is to infiltrate government.

[LeadAngelWarrior]

here i go again: barack obama IS an idiot

but so was geo bush

lack of brains does not the antichrist make or unmake

think of it this way: obama is the BEAST - you know the 666 one - upon which rides in the lord of evil - the ANTICHRIST

can't have one w/o the other

they're joined at the hip

they're like siamese twins - the beast and antichrist

not quite as biblical as some like it, but it's still the plain and simple TRUTH

[wrinkles1931]

THE CRISIS IS OVER...I'm turning off Youtube...the sun is shinning today....

[dontblamethemessenge]

do not underestimate the stupidity of the ECB nor of the EU politicians.

After all, it is not their own personal money. They will just increase their own salaries and bonuses if inflation comes.

[dashxdr]

I think your numbers as regards how much debt has to be issued this year are low. Not just 3 trillion, more like 4.5 trillion.

I read that the average term for US securities is 48 months. If the total debt is 11 trillion, then every 4 years it will all be rolled over, or 25% every year, or over 2.5 trillion. Coupled with 2 trillion in additional spending, you get 4.5 trillion this year.

You ought to promote this channel on your company europac site.

[Paetaor]

They actually changed the rules June 1.

The Fed is now listed as a foreign bank AFAIK.

[VegasBD]

63% was not FCBs, they changed the rules before this weeks auction. lots of writeups about it online, check it out

[cduval1234]

Your too doom & gloom for them... lol... Thats why CNBC doesnt have you on. In addition, your confident and speak well, are easy to understand.

CNBC also has a partnership with Dow Jones. It wouldnt surprise me if they are just censoring you specifically, lol. Also your connection with Ron Paul maybe Politics has something to do with it.

Faber getting credit for something you said years ago, priceless. That would get to me too.

[fatmoleman]

Don't worry Peter, for those of us in the know, CNBC is a joke.

[LeadAngelWarrior]

Barack Hussein Obama is the Antichrist.

help deal w/ it

Jesus has come again.

believe it

[dudebud007]

barack obama is NOT the antichrist, he's just an idiot

[LeadAngelWarrior]

dare i enlighten you yes, barack is an idiot but that's just one of many faces of the BEAST upon which rides in the world's greatest evil the great seducer E.V.I.L. so, yeah, you can be right but you cannot have the last word unless it's BARACK IS THE ANTICHRIST agreed?

[AM429]

why is tbt getting clobbered?

[overlordsshadow]

Keep on keeping on Peter. Some days I almost go berserk with the amount of sheeple around us. It's like people are completely insane. When I hear someone talking some sense it helps me get through the day:)

[0oHIZAKIo0]

Truer words have never been spoken.

[marniespeaks]

Peter if we're not going to pay them back what does it matter then?

[adambelnap]

Great comments on health care. Gotta love the straw man arguement.

[BoiseBaked]

Peter,

Please dont run for political office. It'll take you away from exposing the truth. What comes with a politics is compromise. And, you can't be compromised.

[OpenMind00]

you dont need praise

the people that matter know how good ur book and call was

the rest is all a game of bs, deception and illusion

[BBCcashville]

forget CNBC Peter... you are the Internet KING.... we all know the truth and support you all the way... Can't wait to watch you on Glenn tonight.

[hohihoigf]

When Peter talks about how he was right and is now ignored by the media -- that doesn't bother me. His point is that the media is biased, particularly against people who speak on behalf of Austrian economics and liberty.

[nvsyru]

Here's an analogy for you to use for a future interview;

Our government has been Hi-jacked by a group of global elite that intend to do a trillion times more damage to the world than what happened on September 11, 2001!

[nvsyru]

Peter,

If you are looking for compliments from the MSM loons (lunatics) you are not the man I give you credit to be. I believe you are smarter than that! These loons are guided and directed by the same global elitist that have gotten us into this mess of debt with little focus on increasing domestic manufacturing.

I view most of you videos for the simple fact that I am interested in, what some might consider, an alternative view with more meat and substance than the shit MSM is feeding us!

[tsuboimachi]

And your solution to the health care issue, Peter?

[stephen5237]

Schiff would be a lot more tolerable if he wasn't so busy patting himself on the back all the time. Sure he has been right about a lot but he has also been wrong about a lot. I haven't read his first book but I did read his latest - it's poorly written and short on details. It read more like a sales brochure than a serious piece of work. He's great to watch on the news shows though I will give him that.

[SchiffReport]

Why don't you read my first book and then tell me what I got wrong.

[myrelative]

the subtitle of your second book you got wrong.

I'm not saying that because of that one deflation-obsessed blogger, not even questioning your long term investment advice.

but keeping a portfolio up while the market is down clearly did not work based on the advice given in that book.

almost nothing would have worked, except shorting. which you advised against because of your expectation of dollar depreciation.

[dudebud007]

watch it pete, stephen lieb has found you, you're screwed now LoL

fortunately we dont have to hear his voice here

[BoiseBaked]

Stephen5237,

You should have stopped at "I haven't read his first book" before presenting your vague, inelegant critique. One thing you can't say about Peter Schiff is that he's short on detail. Yes, you can tell, the lack of media interest bothers Peter, and as a result he comes off a bit egocentric. But I think you and many others confuse his passion for arrogance. That's a mistake.

[myrelative]

he is short on detail on his investment advice. but you can tell that this is intentional, he's never once mentioned a foreign stock he recommends.

I guess that's his "trade secret".

nothing wrong with that though.

[BoiseBaked]

myrelative, your wrong. I first heard of Peter Schiff in a Money magazine article where he did list off stock picks. I've also seen him on cable news shows where he enumerated off stock picks. And as far as trade secrets, he uses simple fundamentals to make his picks. Fundamentals and techniques which he describes in his books - no secret there. His picks are extremely conservative - too boring for most of the so called hotshots analysts out there.

[myrelative]

I've never heard him mention one, so what you've seen must be some years old or I would've seen it.

even when he or one of his brokers talk about a specific stock on his radio show they don't mention the name of the company. one of his brokers even said he can't mention it.

so this IS some kind of policy or his company.

but as I've said, there's nothing wrong with that.

[BoiseBaked]

myrelative, sorry, it wasn't Money Magazine but Fortune Magazine, Feb 2009 issue.

[BoiseBaked]

Peter is up against an unbelievable force where simple common sense exposes the fraud, mismanagement and abuses of power. We need more fighters like Peter Schiff and Glenn Beck - purveyors of truth and simple common sense. Right now, Peter is our only hedge left against the inevitable, looming disaster that is so plainly visible and predictable - you have to be blind, stupid or in denial to miss it. Which one of these is you Stephen5237?

[audioX1]

You the man, Peter.

[vectorstofinal]

Peter's economic prowess is unrivalled!!

Not surprising his invitations to speak on financial news shows have declined...the left wing liberal media doesn't want anyone informing the public what is REALLY going on!!

I am a corporate pilot, and sometime during Q2 2008, we flew a Wachovia Board Member who just happened to say, "the shit is going to hit the fan in Q1 2009!" Well, the shit did hit the fan in Q4 2008...close enough! These execs new what they had done, and the consequences!!!

[peilthetraveler]

Yeah its much better to get the news here. Peter tells it like it is and doesnt sugar coat it. Like that news article that came out last night saying CA is going to have to issue IOU's next week. They were careful not to call it what it is...a default. Imagine if you owe someone money for something like your mortgage, or credit cards...could you just say "Oh here is an IOU" Of course not...its a default!

[iiooioooi]

i will have to say that last year when bush was in office there has to be an oppositions to elect OBAMA or whoever was Dem. it seems like now media is telling people to somehow worship or hate obama. always that right wing, left wing stuff or rep, dem.. so now shows like glenn beck (fake conservative) inviting you.

[gtele5hev]

Scrap CNBC, if I need to know what is really going on on the markets I go and check out either Peter Schiff or Jim Rogers or Marc Faber here on Youtube. It's free, it's reliable, it's ads-free.

Having such an alternative I should be a complete morron to choose a TV as a source of information.

[cpx86]

What *is* he saying at the beginning of the video? Diff? A cut-off "Schiff"? o___O

[lucasindustriesinc]

That's right Peter. Those guys are pussys! They had a Haynes had a guy on today and haynes line of questioning led the fellow to make negative remarks regarding the economy.  A conclusion CNBC didn't want to hear as it cut to commercial in mid-sentence. As they do do often.

[suavehotguy24]

It's all a conspiracy, with the Government & big corpoartions invloved. It will only end when the money stops working - then there will only be...Kaos.

[HG2013]

Schiff for President!

[jsnvoe434]

Hyperinflation is soon going to make the US dollar worthless and you can either prepare now or go broke. Signup for the free National Inflation Association newsletter at: Inflation . us

[dudebud007]

come on man, we all know here that most american refuse to accept the reality...so in my words, "fuck em!!!"

the end result will come by the good all fashioned natural selection....the weak(those who refuse to listen) will fail and only the strong will survive...after all that's how the evolutionary cycle began, it's the exact same thing as the economic cycle, boom & bust, the cautious ones gain during both

[peanutscoins]

u r da man !!!!

[Lichtz]

This is patriotism. Everybody that Peter is speaking about is an ethnocentrist/nationalist. They were just as complicit as the people in power.

[lnsk]

Honesty and integrity delivered again - but the hard, cold facts are too scary for most to even ponder as true for a moment...good luck to them! Stay strong Peter, there are a bunch of us with opened eyes behind you!

[eurohim]

I wonder if you said what you said about economics, but instead supported McCain or Obama, would you get more of their attention.

[Perceiving]

Yes, they don't want to hear that the crisis is just beginning.

Also don't want to hear any criticisim of Obama's handling of the crisis.

[pntrain5]

I'm still amazed how few people watch your video, a little over 2K subscribers. I guess the internet isn't replacing TV any time soon. Keep up the good message.

[Matlock1974]

I get an automatic email everytime a new vlog goes up and the link takes me through to watch on the europacific site - i.e. i'm a 'subscriber' but wouldn't count as such for youtube purposes. By the time you add in the various Youtube postings i would imagine each vlog gets 20K plus views. But I take your point. By rights they deserve hundreds of thousands if not millions. To get that though on Youtube you need to be younger, female and wear a low cut dress.

[TiredOldFart]

Maybe hotforwords could start a youtube hotforstocks

[ovar9k]

As the saying goes, "Hindsight is 20/20."

[harveybirdmannequin]

Don't worry, Peter. Just keep doing what you do. They don't deserve you but we appreciate you.

[Libertarianman88]

Keep up the fight Peter. I'm sure you've read the Gathering Storm by Winston Churchill. If not Churchill points out that he was the only one calling out the dangers of hitler in the early 30's (in parliament), while the rest of parliament laughed at him and looked for peace with hitler. Stay the course and history will most definitely side with you. You'll just have to be patient on the recognition. You have quite a following and you'll be remembered in due time.

[rockhardxrocker]

there are some people criticizing peter schiff for just repeating himself for years, and then finally getting lucky when the house of cards came down. It's like if u scream every day there's going to be an accident on this street, one day you'll be right. a broken clock is right twice a day. haha. I'm not siding, but would like some feedback on this.

[harveybirdmannequin]

It's called being consistent and not being a hypocrite. If you want people to believe that you're right, being consistent in your argument is half the battle if not all of it.

[rockhardxrocker]

ya but it's like saying, the sun's going to rise in an hour, and you keep saying that until it eventually does, then you say, see I told you so!!!

I saw a few clips of him years before, when he still had brown hair, saying this was going to happen earlier. Though to give him credit, these things are hard to time, and he got in the general ballpark.

[harveybirdmannequin]

So according to you, the guy who changes his tune everytime popular belief shifts a different direction and got it wrong is given more credit than the guy who stuck with his original prediction and got it right. Those are the 2 camps as it is right now.

[TheChinaExpat]

No it's nothing like that at all.

It's realizing that the longer the bubble lasted, and the larger it grew, the bigger would be the eventual fall. The Austrian theory of the business cycle explains this clearly.

The fact was that Peter became more and more right as the bubble lasted, because more and more malinvestment (misallocation of resources, labor, capital, and land) was taking place. Had the bubble ended when Peter first started talking about it, things wouldn't be so bad.

[TheChinaExpat]

A more apt analogy would be a volcano that was gradually building pressure, and someone always warning about the volcano erupting without knowing precisely when it would go boom.

Up until the volcano erupted, the guy would be wrong - but the longer until it erupted, the more devastation would be released.

So it has nothing whatsoever to do with your broken clock / sun rising analogy.

[Panpiper]

Yes, there are lots of crazy people on street corners prophesying doom. Why is Peter anything more than 'lucky'? I take it you never read any of his books. There are lots of books now, written in hindsight, analyzing what went wrong. The thing is that Peter had written the same analysis 'before' things went wrong. He didn't just cry doom, he told people exactly why the crisis was coming and his analysis was 100% on the mark. That's not luck, that's knowing what you are talking about.

[clint076]

I love my country but hate my Government!

[thebruno44]

amen!

[myrelative]

where did they announce they are not monetizing debt? the FOMC statement even mentioned the specific numbers again.

(no news here)

and you fergot that not only did the swiss central bank intervene, but the ECB pumped about 400 billion euros into the european banks.

[olecodjur]

Reality is Peter, most people hate anyone who is smarter then "they" are... especially when "they" are considered to be the experts.

The insecure hate to be wrong and to justify their ego they must become the un-challenged authority. That's why most of those in power seek positions to prove to themselves that they truly are in control.

[iamacyborg]

That comment by Obama aggravated me. He obviously does not understand the first thing about capitalism and "competition" and his phraseology recalls a computer-illiterate trying to "talk tech".

He says the "free market" produced bad decisions and that's why the government needs to intervene. He uses the term as if it's interchangeable with "entities that are not the government", and does not acknowledge that the bad decisions were made WITHIN the artificial context the government created.

[bajoverga]

Peter, don't give up and keep promoting the message! I try to get more people to follow you everyday. I truly hope you run for Senate in CT, and give us a voice!

[TheVampirella]

I want a job where I can run a company into the ground and get paid millions of dollars too.

[Panpiper]

And get bonuses after the fact!

[JurkoffJay]

Fuck your dizzy ass shirt Peter Schiff! Stop trying to hypnotize people.

I'm on to you!

[Bmx33606]

If you do not believe him then start buying US stocks. Let me know how things are in a couple of years. If this rally was real then my father's broker would tell him to switch out of municipal bonds into more equity. That is not the case. Instead, his broker is telling him to buy more municipal bonds. Get the message? Sometimes the truth is what you want to hear, but there is nothing better than the truth.

[Libertarianman88]

I hope they arent California muni bonds.

[JurkoffJay]

So are you agreeing with his broker?

[Bmx33606]

Yes I am. Interest rates will stay low (if not unchanged) for the next couple/few years. Earning 4-5% on triple A municipal bonds is smart and safe. If you disagree with Schiff, my father's broker, and myself then go buy US stocks. Sure you can make money in the short-run with trading, but I am talking about investing.

[JurkoffJay]

No thanks. I think they both suck, and are too confusing for a nigga like me.

Thanks for the help though BMX.

And I ride too. I can go crazy tricks.

[Panpiper]

Earning 4-5% annually on bonds when the currency is experiencing a price inflation of at least 4-5% monthly (which is a conservative estimate of what could happen with all this new money the Fed is creating) is frankly, insane. You father is betting that there will be no significant inflation. IMO that is an extremely bad bet. Buy gold, ETFs if you think the system will not collapse, take possession of bullion if you are more catastrophist.

[Bmx33606]

Inflation will be subdued for a while. There is no demand out there.

[Stargazer5781]

Not only will the price of health care be higher because of inefficiency - the increased availability of health care is a HUGE increase on the DEMAND side without a reflection on the supply side. This will necessitate price controls, which will result in shortages. Ultimately, rather than the two-tiered system we have in our current mercantilist health care, we'll have four tiers - VIPs, medical insiders, rich people who get health care elsewhere, and everyone else. *Sigh*

[BlueSkies360]

Since I saw the 'Peter Schiff is right and others suck' video, I have CNBC pretty much on mute.

[conquerorofbabylon]

Ladies and gentlemen, here he is, the man who predicted the crash, Mr. Peter Schiff. Applause. Mr. Schiff now that you have copy cats after the fact what's your next move?

[ElDiabloBlanco911]

Condo Loans and Barney Frank? What of it?

[alanhowitzer]

the Fed Sux

[Epic878787]

If they see this they might have you on just to laugh at you for crying, "aw, why can't I promote my book-sniffle", j/k.

[Epic878787]

I think your theory is right re not wanting you on. +, I think they got sick of saying, "you had this thing nailed years before it happened". It's like they had you on for a bit just to get that off their chest then... goodbye. +, there's more bears on the econ right now given the rcsion and Dem's in office so you're not so needed as a counter weight to all the hypsters.

[stratcatavarious]

Congratulations, Mr Schiff

You're the man - forget those losers

Keep On

[sonofaglitch2]

In the past, I think Peter was given airtime on these network financial shows just as a perceived Chicken Little ultra-bear to mock and snicker at while the rest of the talking head buffoons recommended investing in real estate, financial institutions, and GM stock.

Now that his predictions have proven so prescient, these show's producers might be afraid to have Peter on, as he'd no doubt make all of the rest of the panel look like complete idiots (as before), further discrediting the shows.

[hazballs09]

Pause @ 1:19. I don't think anyone at the Fed says they will not monetize the debt. Inflation is how the blasted government is monetizing our debt. They refuse to LIQUIDATE debt.

[hazballs09]

Peter Schiff understands the fiber and groundwork that have made America great. Government spending can indeed lead to predatory commercialism to regain "sunk costs". "When government spends money, people lose freedom"

[Nickelodeon2002]

I heard a similar scenario to the gov't takeover of GM today(and how it hurts Chrysler & Ford in that GM will undercut them in car prices) on Rush's program today. (Not that I like Rush...but I listen now and then to genuflect on my own beliefs)

[thedopestbeats]

Big announcement tomorrow?

Schiff needs to strike while the iron is hot. There are articles coming out in opposition to his run, his supporters are getting restless, and Dodd continues to do shady stuff. Why not tomorrow while he's on a show that gets millions of viewers? It would be smart to announce tomorrow if ever.

In the words (kinda) of Prodigy of Mobb Deep, If he announces his run on Beck, politicians will be "shook", cuz they ain't nothin but "half way crooks." Scared to death....

[Epic878787]

In a recent video Peter made the "politician, lips moving" joke so that may have been an indication he's decided against. maybe.

[imre1000]

Media attention (CNBC) is about profits, not fairness and justice. 1000s of people respect you & spread your message on youtube - so please keep at it! And don't worry too much about TV

[nogl0001]

if i was peter it was give me a migraine. heh.

[michaelpshipley1]

they stopped having peter on ever since they heard he might run for senate.

[Panpiper]

I agree that Peter should continue to support his YouTube forum. But here he is both to a large extent preaching to the converted, and he is also reaching only a few thousand. On the mainstream TV reports, his views reach hundreds of thousands and most of them have never been exposed to his views. So it 'is' important that he get that air time.

[shawner69]

Glenn Beck is sooo crazy though.

[BlueSkies360]

Beck is the best host TV has to offer these days. Fox 5pm EST. Here are some clips: /profile?user=BuckFarack&view=­videos

[shawner69]

He is seriously bat shit insane. Just because he latches on to an occasional issue that can make sense doesn't change that.

[SuperAtheist]

he's annoying and sucks at interviewing too.

I'd rather see John Stossel interview Peter, it would be way more informative and better all around

[BlueSkies360]

shawner69: I do not agree. Beck is a bit childish sometimes, but he covers great issues EVERY DAY. He has the highest ratings and his book ("Common Sense" The Case Against an Out-of-Control Governmentis) is a bestseller, so Peter would get lots of exposure. I just hope he gives Peter more time to speak than last time.

[shawner69]

Beck is a conspiracy theorist, fear monger and extremist on most issues. He is considered a joke by almost everyone and having people watch his show is due to entertainment value or the tin foil hatters.

[BlueSkies360]

shawner69: LOL, you have not watched GB at all. He is against conspiracy theorists. He is a constitutionalist. You have been watching too much mainstream media, Olbermann perhaps. Only the uninformed and conspiracy theorists consider Glenn a joke. He also organized the tea parties. You think those were a joke too :)? He is not perfect, but he is the best we currently have on TV...

[shawner69]

Keep telling yourself that buddy, enjoy your tin foil hat.

[BlueSkies360]

shawner69:enjoy your bubblevision sunglasses

[handyman1242]

blueskies360 is right on the money.obahma is destroying this nation along with dems , liberals, and anyone else who craps on the constitution.beck has to make fun of this stuff not to cry at what is happening to our rights .and shawner69 if you aren't afraid of what is going on in our gov. ,then you are simply ignorant of the facts.because a lot of what he reports are facts and that can't be spun or brought to an extreme. they are just facts.

[wrinkles1931]

Yeah, according to Schiff, the Bush administration drove us off a cliff when they decided to create the housing bubble and keep interest rates low even after he was warned in 2003-2004, when the majority of option As were introduced...but you resort to biased political BS...you're a complete idiot...

[VeniVidiVid]

When I read comments about how Person X is "insane", "batshit crazy", etc., I tend to immediately discount that poster's view. Bring an actual point to bear if you want to be taken seriously.

[shawner69]

The problem is that you make an embarrassment out of legitimate positions that people can hold even if they are out of the mainstream. It is exactly what happened with the Tea Party rallies where there were a serious group and then the nuts. Now thinking Glenn Beck is loony (and an intellectual joke) is the same as liking what the government is doing. Of course this is true to the Tin Foil hatter. I'm a Libertarian more in the vein of John Stuart Mill, but still value economic freedoms.

[BeatsRoyale]

First!