Nov 2006 Peter Schiff Mortgage Bankers Speech Part 6 of 8

[sha370z]

bush was in stockton CA. 2000 ,2001 and 2006 homes that where $700,000 now $100,000

[westy44cal]

this must have made a SHIT ton of money. Shorting the bubble AND buying gold since the 90's. WOW

[elnik32]

The biggest contrast here is this character on the right with all his papers and reports while Peter Schiff just stands there and speaks and answers questions out of pure knowledge.

[SoCalRealtyRap]

HAHAHAHAHAHA LOL HARVARD WAS WRONG!!!

[doughtymqan]

Will someone in this business PLEASE get a mic to the guy asking the Questions! Half of the education is in the Q&A dammit!

[8technical]

I wonder if the stiff on the right has given himself an upper-cut since this!!

[Itsjames1]

GOLD AND SILVER!!!!!!!!

[ferdyss85]

The more the times goes by, the more actual those videos get.

[forestskog]

fuck all my savings are in dollars. Anyone know which bank permits you to hold a euro account? I'm with USAA and they don't permit it.

[graduatetests]

@forestskog I'm from England. Trust me, dont even consider Euros or GBP - the problems over here will play it in the currency too. I'm looking to convert mot of my savings into silver/gold soon.

[TheAttackRat]

@forestskog read Schiff's book. it's good; no pun intended ;)

[TheAttackRat]

@forestskog *it's gold....

lol

[hummarstra]

I wouldn't wipe my ass with those Brookings Institute and Harvard studies. What a bunch of fools! Harvard study-- "In next 10 yrs housing production should average over 2 million annually." LOLOLOLOLOL!!!!!!!!!!!!!!!!!

[TheBlitz1]

very accurate speech

[LondonCrusader]

lol @ guy at the end reading from books/papers.

--

The Schiff remains one of the bravest people I've seen. For years he took literally hundreds of appearences, laughed at, berated as a 'doomster', and yet....everything he said...occured.

If only the USA would choose to elect him.

Sadly, not a hope. They will seemingly never have the sense to elect someone as straight-talking and smart as Schiff.

-

I'd almost want to tell Schiff to 'don't bother running for the Senate'. :(

[transcend350]

... ASS-mus is a self - serving, CFR "useful idiot", neo-con shill that loves to hear the sound of his own voice. He's an unapologetic supporter of NAFTA, GATT, FTAA, WTO, CAFTA, VAT Tax and any alphabet swill coming from Rockefeller's CFR, yet a flag waving twit come the 4th of July! H.L. Mencken stated "the men that the American people love most extravagantly are the greatest liars; the men they detest most violently are those who try to tell them the truth."

[casienwhey]

wow, what Peter said he hoped didnt happen (government printing) did happen. I guess the dollar does not look so good now.

[irishgeal1]

lmao, that clown doing the reading, dos anyone know what circus hes in now.

[realguy420]

HAHAHA that guy at the end pulled out a book and started reading out loud like he is in college learning about it.

Peter, on the other hand, knows his stuff front to back

[jvolstad]

@realguy420 The guy reading looks dumber then a Realtor.  Who is he?

[y2ktube]

"You heard it from the Bear & let's bring back the BULL" True...

[shocker315]

"If you bought a home on an adjustable rate you are a speculator."- schiff part 5

[forestskog]

EPAdmin thanks for posting this. I would love to hear the other guy's full presentation. To see what his reasoning was. Do you know where I could see that?

[monageasmear]

schiff for senate 2010

[pretorious700]

exactly "that type of bull"

[wozzek22]

I hope this guy's hidden in some hole; a Dr. hiding behind some fraudulent book... what a shame.

[wilsonspaulding]

Actually he's still an economic speaker and has a web site! This is a lesson about guys who have doctoriates and trust in official studies....

[Frankenpalin]

sad, Schiff is talking about tangible historical examples and simple economics and the other guy picks up a book and quotes some Rockefeller think tank

no wonder everything is fucked

[lorigee2]

OMG Mr. Asmus just quoted a Harvard study. I remember from the Enron hearings that Harvard is the Alma Mater of Mr. Skilling of Enron fame, the same one that couldn't remember what he HEAR at a stockholders meeting because the lights went out...Mr. Schiff is dead on and very honest. I'm surprised that the rotten tomatoes didn't start flying his way. Harvard MBA, Harvard stats all smoke and mirrors....sad.

[djtohkee]

That other guy who is an "Expert" is Dr barry asmus

[pretorious700]

Could this other guy have been more wrong? Talk about playing to the crowd.

[njac1946]

what? hes dead on!!

[pretorious700]

Not Peter-that guy with the bogus stats

[therighttoremain]

Peter Schiff speaks logic.

[tinfoilcap]

@therighttoremain : That's why Peter Schiff needs to kick Dodd out of Congress. I live in CO and I donated to his campaign several times. I encourage others to do the same. If not now, when. Vote these bums out one at a time.

[pretorious700]

The Democrats got to Dodd, so you don't have to worry about him any more. Problem is, there is another career crook in line to take his seat.

[fahimh]

OMG the guy on the right was TOTALLY wrong.

[nsolcis]

the guy on the right seems so ingenuine, he's reading straight out of a book, like he doesnt know what he's talking about, crazy

[IstilGotGame]

In hindsight the guy on the right was full of shit. He quoted studies that based its substance on the beginning of or the ongoing at the time artificial boom. Schiff was looking at the economy using real prices not through speculation & not based on artificial booms. He was very clever & right on the money. He continues to this day to be a good source of real solid information. Fuck this other guy & fuck the bookings institute. Its study turned out to be a crock of artificial shit

[x2thebox]

you're right on. The guy on the right is quoting conventional economic analysis studies. The studies he quotes most likely generated their numbers based upon the data from previous years. The major problem with all of that is the original housing numbers were artificially inflated. Basically, we're getting back to everything that Peter Schiff was talking about. The guy on left is using studies that are based on BAD DATA, it's not surprising that he is wrong. Schiff keeps things simple. Hes right

[fortune6610]

Peter Schiff has been RIGHT-ON every single time he has spoken. Pay heed.

[mrburnone]

the 'other' guy is clearly just a repeater. quick to open a book and quote some 'expert' to back up whatever he has been manipulated into believing.

[silentthriller]

Schiff cleaned the floor with that other guy

[Research0digo]

what's that limp weenie's name on the right?

hmmmm

don't know

never heard of him haha

[asknudsen]

lol idk but he is surely a limp weenie

[mattgeb84]

lets bring back the bull

literally

[cloudstrife543]

LOL, i love this at 1:30, "oh the debt is 2 trillion dollars, where the hell is the govn gonna get that money?"

[salahuddin786]

This guy is smart,dynamic and truthful. A genius in the ocean of dopey Americans

[smmclaug]

I love how a guy responds to Schiff's contention that he will not be distracted by official studies and propaganda, by simply reading at length from that same propaganda.

[jsyn1230]

harvard?so what? if eistein says 1+1=3,well he is fuckin wrong! i dont give a fuck about who he is,only what he says.

harvard is only good for producing lawyers and politicians who does nothing but exploiting the ppl they think they are smarter than.

[Sentinel4truth]

Austrian economics rules!!

[quillendaniel]

keep on reading from that book; not fit to lick the shoes of peter schiff!

[quillendaniel]

you heard it from the beaaar......

what a fox news by golly lingo.....stupid man in the glasses.....

[quillendaniel]

Look at that bozo read from the book:

On the other hand,

peter schiff should be crowned a prophet!

[splintercell99]

prophets dont seek crowns, they are humble and probably just want a high five

Schiff would appreciated a high five

[oftheborg]

Or just the penny he won in the bet with Laffer. :P

[pepsimannampepsi]

Harvard!

Havard!

Who cares about what Havard says. The people coming out of Harvard and Princeton come to be the leaders of our country who are ultimately destroying it slowly.

I don't give a rats ass what Harvard College has to say. I think more stupid people come out of Harvard than any other college in the U.S.

Look at Bernanke, He comes from MIT. What the hell? I thought they were teaching students sound economic theory over there

[icfnord]

Wow I can't believe that guy who is arguing with peter. @9.20 he says housing production should average 2 million units a year for the next ten years.

[splintercell99]

lol where they going to find 10-20 million people?

[Research0digo]

splintercell

MEXICO

Where do you live?

This is one of the major reasons California is going broke, si, o no?

estados unidos son muerto!

[aeiouandxyz]

Illegal Aliens need a place to live to. We can import people like we import everything else.

[Justprayfirst]

give em citizenship if they buy a home

[mike5840]

Ridiculous rebuttal. His assumption seems to be that we will go merrily along at our current rate(s) of consumption until 2030 with no regard for debt, deficit, or the constraints of energy depletion (which is ever looming in the background like some sinister sub-plot).

Consumption cannot drive an economy, only meaningful, productive activity drives an economy. We can't all make a living installing granite countertops in each other's houses, especially since we can't afford them in reality.

[vinny1010]

The rebuttal guy is reading from a Book.... HAHA!!!!

[cayman187]

and that's why no one pays him to invest their money.

[Giwen]

Yeah, books are stupid!

[clanky]

You understand, I hope, that his point is that Schiff makes a compelling, well-reasoned argument, and his opponent reads "expert opinion" to rebut him.

Whether you agree with Schiff or not, quoting from a book that you may or may not understand is not the same as having an intelligent point of view. In fact, it's quite the opposite.

[imaginator]

this rebuttal bull guy needs to be stripped of his pants and caned!

[voytechp]

Peter Schiff is genius. I think he is the most brilliant American I've heard on the news so far.

[cayman187]

he and Ron Paul are dead on!!!!

[Lot3ch]

Hey anyone think we'll easily see >10% unemployment in 2009?

[Darwinist]

In anything other than the screwy US unemployment model(read up on discouraged workers), you have already passed that mark.

Shadowstats is a great website for more concrete information.

[PeopleDigitaL]

Hi Lot3ch,

Q: "Hey anyone think we'll easily see >10% unemployment in 2009? "

A: White Americans have reached 8% recently as you know. This percentage indicates that they are going through recession. The news doesn't want people to realize that Black Americans are at 15%. That means that they are currently in a depression.

P.S. When doing research you will find that blacks and whites have different unemployment rates placing them under different economic status.

- PeopleDigitaL

[pretorious700]

What the fuck is this idiot talking about?

[ianclivewright]

He's predicting the economic crash you are now in two years before it happened.

[pretorious700]

I mean the other clown-Schiff makes all the sense in the world.

[drmodestoesq]

Well I'll give you an example of what this idiot is talking about. Someone calculated (I think it was about 15 years ago I read this) that at the present rate of growth in the Elvis impersonator field that by the year 2020 half of all Americans would be Elvis impersonators.

[pretorious700]

Nice analogy

[noraklagrangian]

Harvard scholars say the American real estate market will only dip modestly. How wrong could they be?

[zorrell]

I don't care what Harvard "scholars" say. I believe in the principles of Austrian economics. Governments print money, causing inflation, bankrupting nations. Fiat currency never works, and I don't care what Harvard says. They're wrong.

[noraklagrangian]

I was pointing out that Harvard was wrong. The real estate market went down a lot.

[kickittome70]

This guy whos spouting gobbledegook from the Brookings INstitute just looks a fool. Peter doesn't care about vested interests - he just tells it like it is.

[midlantic1]

I started following Peter back when he was advicing Ron Paul. He makes pure sense and even bankers didn't liston to him. Today he is saying the dollar will fall. I'm getting ready to short the dollar index. With all this debt the dollar is high only because of deleveraging. The debt we have will crush the dollar.

[aviomaster]

--- USA has an option ... USA ARMY is a capital investment ,,, IRAQ 250.000.000.000 barrels of CRUDE OIL ... converted to dollars around 25.000.000.000.000 $ ... LET's get it . and pay off DEBT or be like CCCCP in 1989 ... BANKRUPT ,,

[yannchambrier]

Too bad those oil belong to the Iraqi people, not Americans.

[jordo114]

didn't you ever see three kings, all we gotta do is steal their gold, george clooney for president!

[gaguy1967]

in order for oil to be useful to the Iraqis they need to sell it

[NoisemakerArrow]

No, they need to refine it and make stuff out of it or put it in their cars.

[addiktion13]

Peter is amazing. He nailed it on the bulls eye.

[phogasm]

now to the bull. ha ha ha hah

[evan2024]

the bullsh*t . . . waist deep

[phogasm]

This guy, bet the guys in that room wished they listened.

[ugabandit7]

This guy must have a crystal ball.

[evan2024]

or Austrian economics

[R0YB0T]

Awesome playlist, also thank you for making it a playlist. makes it much nicer to watch the whole thing in one sitting.

[senatorpjt]

ha. it's called "appeal to authority." Schiff says "It's going to go down, and here's why." making an argument from common sense. I'm not an economist at all but the logic is undeniable. The other guy basically says "Harvard/Brookings/etc says it's going up."

[jfeucht82]

Wow, said almost two years ago, and all coming true just today. Amazing.

[Paseooo98765]

HE IS GOD!

[theguvnorjimmy]

What a bad report from Harvard.

Respect to Peter Schiff. An inspiration to all.

[fishwhisl]

He was Ron Paul's economic adviser

[LeftLiberalSoCal]

This moderator is so annoying,

[urgewrx]

This guy is a genius. We are very fortunate to have someone of his caliber come forth and call it like it is. Not like the other guys who knowingly come out in public to lie, so that big time investors can dump their stocks on us.

[cinderskenney]

if freddie mac and fannie mae are still around..... thanks to the gunment they are...

[elephantinpajamas]

Painfully clear

[caelarent]

Schiff's opponent here, whoever he is, must have gorged himself on his own words by now. Hopefully he found work after this debacle ... outside of the finance business.

[vicmac64]

The idiot is the one who got it right - what does that make you fornello - smart? I don't think so given Schiffs prognosis hads come to pass....... Perhaps you were one of the unthinking ones?

[fornello123]

durr who is this idiot reading stuff. quoting people doesn't make it true

[fredgt28]

Boy, the other guy is bullish about the housing market "half of the homes have not being built yet for owners in 2030." Right....we have only 2 decades left, i dont think its gonna happen,

[ashishum]

what happened to Videos No 2,4,6,8? Till yesterday they were all working?Now they suddenly vanished?

[eBobbio]

They're all still there - I just watched them.

[Sentinel4truth]

Peter is right in his answer to the first question! The whole Harry S. Dent demographic determinism argument for the housing boom was a fraud. It was purely a credit market bubble where a mania developed and there was no adult supervision.

[kaitenuser]

"oh a trillion dollars a year, where the hell the government is going to get that money?!"...now that is a tight quote

[ronheri]

Ron Paul for President and Peter Sciff for Secretary of Treasury and we have hope in America. End the Federal Reserve. Throw the criminals out of Washington.

[Sentinel4truth]

Hear hear!! The creation of the Federal Reserve system unleashed all of what we're experiencing today.

[Paetaor]

That guy has a Doctorate? Explains what he was doing while Peter was figuring out what was really going on.

His quotes weren't worth the paper they were printed on.

[70road]

I know a few people (family) with PHDs that are morons.

[treysparker]

@70road

Dont we all ;) lol

[roger767]

@70road  you think they teach pyramid scheming at school. Cuz thats whats the real American economy is based on now.

[pRhyME3]

the guy reading off the paper is an idiot. he has to read off some material, but schiff just says what he knows off his head.

[seabassbanker]

Geeeesh---that guy in the right works for larry kudlow

LMFAO

[ricecaker]

wow, that was amazing..

Peter predicted it all in every dimension for what really happened in the markets.

and how sad is the other guy... -.-

[kidbilly1970]

The guy on the right must work for CNBC.

[sudhisira]

Yes. See how he says "Brookings" - as if the very mention of the name should scare Peter out of the debate, and convince us that the "Brookings" (ohhhh, what a scary word!) guy won it!

ROTFLMAO!

[vendor72]

wish i'd watched this a few years ago. oh well doesn't matter I own gold and silver and mining companies. The uk housing market has just started to turn. My friends got an investment property he can't sell my fiances got friends who are in the same position.Guess what their doing?their now looking to rent them. oh dear.was that part of the plan?I don't think they know what they are doing.House round corner just went unsold at auction.rang up to make potential offer.guy snotty. think i'll wait.

[Oztrigger4]

Schiffy at his best!

Look at that other little tosser with his thumb up his ass, jacking off to his copy of the Brooking Institute tripe!

[philolson321]

Brookings institue propaganda Bull shit! The guy on the right is smoking crack! Peter schiff is the man! Called it right on! Who is that joker on the right? He had to have been kidding. Could he have been more wrong? Just terrible...terrible. Peter schiff is the man!!!

[brucec43]

The other guy trying to rebutt Schiff was pretty sad. Totally out of his league and lacking true understanding. Unable to do much besides quote another study.

[stalcottsmith]

There's the man I want managing my portfolio.

[gbates31]

im about to do send EuroPacific Capital as soon as my money settles in Scottrade. Peter Schiff is the next best thing to an oracle.

[mfmezz11]

gbates - does he only cater to sophisticated clients (greater than 250,000 net worth), or can anyone open a managed account? Do you know off-hand?

[rswallick]

i opened an acct with a old small ira (36k)

[sergey444]

WHAT!? that idiot on the right? He doesn't know anything, he's just reading quotes that SPECULATE about the future in 2030! lol. wow.. have fun trusting your money to an idiot. JK ;)

[ElCapitan1985]

wow, now look at fannie and freddie, this guy, Peter Schiff is smart. no wonder he's voting for and advising Ron Paul, he's the only smart candidate we have.

[dmorles]

lol - good gawd if there was anyone who ever possessed at legit crystal ball - it would have to be Peter Schiff...the prediction of Fannie and Freddie is spooky

[danbuck333]

you heard the BEAR ,now lets here the BULLshit

hahahah