Japan's unshakable confidence in the U.S. dollar, yeah right!

[TheChrissykun]

well now the yen will probably go down a little due to the earthquake ant the millions that will be spent on fixing japan

[MidnightRayn]

put down padding to kill the echo, god that's awful to listen to.

[ftwbk]

when this vid was made the yen was trading at 1:1 approx. with the dollar. today it's around 1 dollar = .80 yen +/-. dollar has lost 20%.

[iam4u2cl8er]

Im not a republican..but if Mr. Schiff runs on a republican ticket...I will cast my vote for him all the way! Presidents now-a-days need to let enterprises fail so that they can learn a hard lesson. Start from scratch and dont repeat on their mess ups. I applaud Peter for laying it all out on the table, and it really aggrivates me when the people who intreview him dont give him a chance to tell it like it is and right him off as crazy. As Peter says, its coming people..R-U Red- E?

[typebhero]

I'm getting 1) guns, 2) ammo, 3) food and water, 4) fuel, 5) gold.

[REEMUL17]

Schiff is running for senate! check out his site. we need a guy like him in office!

[cayman0005]

Yeah, they are dumping the T-bills.

[aviomaster]

jimmyjoe1975 (--- You will get bombs back ,,, and what bombs ,,,

Intercontinental ballistic missiles , SS-18 -Satan , carries 10 Hydrogen bombs , and flies faster than a .30-06 bullet ... Let me tell you no one is going to bomb RUssian Federation ... Did you get this ...

[housechores]

I would vote for you if I was in Connecticut.

[jibbi4one]

The Japanese voted expecting change.

I bet Hatoyama gov't will do every thing they can to restore Japan economy if that means dropping the US dollar they will.

[mrbukkake]

fuck you ya fucken yankee idiot. ya know shit about fucken fuck all.

[aistisice]

u are a clever man my friend

[johnpaco1]

moronpaul,

your the stupidest fuck ever, why don't you go learn a few things about are government, and are history, im 15, and i prob know more about it than you.

[broa2917]

USA is communist China's dog.

Stupid Obama didn't mention genocide of Uighurs at the US-China dialogue.

Americans are just hypocrites.

We should drop A-Bomb USA.

[aviomaster]

-- HEY -- USA ... bombing the WORLD  will not save you ...

Go and try Bombing Russian Federation or CHINA ,,,

STOP killing people around the world , for your own interests ...

[jimmyjoe1975]

Hey, if we bomb you, its for your freedom.

[broa2917]

USA is an arrogant country.

It's time to say good bye USA.

Should lower the value of US dollar.

USA is communist China's dog.

We have no confidence in USA.

[Shaman145]

That's quite a statement coming from someone from one of the most westernized countries in the eastern world.

[SolusArmatura]

The US is the dog of China? Where is your proof to back an outrageous statement like this.

[xDestregax]

@SolusArmatura the proof is in our outstanding debt with them, if im not mistaken its about a few trillion. thats how we are their dog. why do you think we havent intervened with what they do? they treat their countrymen like shit, and are still trying to take tibet, yet we dont mess with them, yet we'll go into any other country

(iraq, ethiopia, haiti. etc) that debt is the reason, you dont bite the hand that feeds you

[shaider77]

Currency traders call it "Jawboning" when a Japanese official makes subtle policy statements to give subtle hints which the market normally reads as an upcoming Central Bank intervention in the USD/Yen exchange rate. Talking it up in the press in this case is no different. Likewise, It's in Japan's interest to have a strong Dollar coz their economy is heavily export dependent especially to the US to make their products more competitive vs the Europeans.

[ericclaptonismygod31]

USD would be fine if Americans can cut costs and be more competitive. What happened people? The US is losing it.

[kancerzx]

USD = DEBT

[moronpaul]

This is Republican bullshit. One star.

[pretorious700]

you are accurately named

[zeezrom]

Nessy is pissed and the bystanders are gasping and covering their eyes while the ones who have been digging her up are doing the Nessy dance. It will take a little while for the newcomers to learn the dance and sooner or later they will all jump in on Nessy. I can't watch... Peek... Peek.. Ooooh.... They are dragging her deeper and deeper inland. She looks to the east for her Queen.... Oooh.. .they cut her throat but she is still fighting and thrashing about. She's going down.

[shahalpesh80]

Schiff is the man unfortunately the media is not having him on as much because it's too much truth for television

[Filmaker25]

Peter, I agree with everything you've said, but people have seen the Lockness monster.

[KingDrudge]

0:40-0:45........LMFAOOOOOO...­...he manages to keep his composure knowing he has a video blog to do. He is better than me cause i would have bust out laughing.

[jcvjcvjcvjcv]

Straight A's? In Keynesianism for sure...

Anyway: skipping school doesn't always mean F's. A lot of times the other way around.

[mrcell61]

I find it hard to comprehend that these videos get less than 10,000 views. Some idiot with a camera can record himself eating a booger and he will get 200,000 views. The sheep are being led to slaughter.

[jcvjcvjcvjcv]

Probably due to YouTube sensorship...

[welsha72]

agreed

[TurboTite]

yeah, nothing could be more true...

[covingtonium]

@mrcell61 yes but at least i will have bought gold and made mone off of them!!

[jirikivaari]

Thanks for the insight! I wonder what your estimates are on the effect to the European economy in the upcoming years?

[Leadwerks]

I bought Japanese Yen when this video was posted, because the Japanese statements were obviously PR statements to contradict reality. A few days later, I made a 1% gain from that trade...in like 2-3 days.

[HateAllNazis]

o Israel has killed Americans (eg. Sailors on USS Liberty, Rachel Corrie, etc...)

o Israel spies on this country (eg. Pollard, Kadish, AIPAC, etc...)

o Israel bought our politicians with our taxes.

o Israel steals our taxes, hence their higher income.

o Israel uses our country as their toilet.

Want more? Checkout my playlist.

Please share this post with others, and demand that your Senator and/or Representative uphold the laws when it comes to Israel's heinous crimes. Peace!

[UminoNuko]

One news story -- immediately taken offline -- identified one of the "Japanese" as

a notorious con man from the Philippines named Yohannes Riyadi, a.k.a. Wilfredo Saurin,

whose associates in international crime are fairly well-known.

The other guy may have been his comrade Joseph Daraman.

These two men are the right ages, and they both could pass for Japanese.

They've been trading in fake documents from the Federal Reserve for years.

[MrDarwind]

Suitcase With $134 Billion Puts Dollar on Edge

Article on Bloomberg

[UminoNuko]

They are Zapanese. Not Japanese.

You need check their face and passports.

Actually, they didn't hand out their passports to The a living-in-Italy Japanese Embassy staff.

[jeremyrose]

The quality of the video is way up. Sweet

[ThreeOfShackles]

Japanese Government wants to be averting war.

Therefore, Japanese Government starts clarify the intention that defense of dollar world economic system, and obstruct the North Korea attack by the United States.

[fantasyfootballgod]

"June 12 (Bloomberg) -- Japan is investigating reports two of its citizens were detained in Italy after allegedly attempting to take $134 billion worth of U.S. bonds over the border into Switzerland."

[emdafx]

Last TIC Long-Term Purchases decreased to 11.2B from 55.4B... that's how they say they have unshakable confidence?

[davincij15]

Obviously the Japanese know what time it is...

"Japanese pair arrested in Italy with US bonds worth $134 billion"

[nicochubo]

Are they really Japanese? They refused to show passport to authorities. And it is quite common for Koreans (both North and South) to claims that they are Japanese when they are caught by police.

[davincij15]

There are a lot of questions that need to be answered but the only question I care about is if the Bonds were real.

If they are real and I think they are because they authorities had to be tipped off some how to find a false bottom to a suit case on a train in Italy. If you have ever taken one you would know they are not high class in Italy and security is not top of the line there.

[fantasyfootballgod]

I don't know why someone would counterfeit a bond worth 500 million dollars. That makes no sense at all. I don't buy that for one second.

[davincij15]

Yeah, they are only negotiable between central banks.

Here is a little bit of fun speculation, ever wonder why the put Kennedy's image on treasury bonds?

Kennedy signed executive order 11110 that decreed the silver notes and bonds will be money produced by the treasury, thus his image lets other central banks know they will fuck up anyone who tries to stop them.

I don't know that for sure but it's a fun piece of speculation.

[strongbadXCP]

Interesting theory. Kind of like how Andrew Jackson is on the $20 note.

[davincij15]

Yes, but then again all people on the Federal Reserve notes where against fiat money and central banks.

[JAGUARWARRIOR21]

I love Peter Schiff analogies!

[emdafx]

China, Japan and Russia are desperately trying to sell you dollars with a coordinate effort of lies.

[Jfkennedy62]

WASHINGTON (AP) — The Obama administration says it is committed to overhauling the country's financial rule book by giving the Federal Reserve increased powers to guard against the types of risks that could bring down the entire system.

[drinkinwithbob]

hey Peter, why the dollar going up ? You have said it is going down to Index 70 it went up to 81.5 today

what is going on ? If you made a mistake then report on it immediately .

[moofree]

If you watch last week's wall street unspun, Peter does respond to a caller mentioning the recent strong dollar.

He is a long-term investor.

Short-term trends can be wacky; get used to it.

You should look at this recent dollar strength as an opportunity to dump your dollars and buy assets. I know I am.

[Nickelodeon2002]

The announcement of both Russia and Japan saying "we have full confidence in the dollar"...really the last 3/4 days(over the weekend for Russia) is what is contributing to the dollar rally TODAY(pent up from the weekend announcement). The fundamentals are still bad regardless of what they say. They are just trying to protect their investment before finding a way to divest and it's working in the short term.

[germana00]

Those countries, as of now, aren't selling their bonds but, in fact, are buying more . That tells me they feel they must do it, or risk high unemployment and, of course, unrest.. Washington's recklessness caught them at a "bad" time. Has China been distracted with building a military instead of a more self-reliant economy?

[jsnvoe434]

YouTube is censoring those who expose the Federal Reserve. George4title was banned hours after posting a video showing how grocery stores are beginning to accept silver as payment. To see the video that got him banned goto the video page at: Inflation . us

[corporate88slave]

Any news on if he will run for the senate?

[moofree]

At this point, the only way the US could implement a "strong dollar policy" would be to mint dollar coins with adamantium.

[qwertydj2003]

Audio is much better on this video - thanks!

[rawer77]

im a forex trader, unsuccessful. but i mostly trade usd/jpy and peter is right again. i watch charts all day. the dollar is going down hard. i guess its banks keeping the dollar at the rate its at now, 98.50. im currently selling usd/jpy. waiting for it to go down to at least 90 again. i lose most of my money with stop losses. it sucks.

[luvbeingfree]

Can someone explain to me why countries like russia, japan, and china haven't dropped their dollars yet? What are they waiting for? Why is there any hesitation?

[tyotmyt]

The parade of US officials heading the Far East is usually spun as some sort of begging and/or confidence building mission. I doubt that much time is wasted on that sillyness.

I suspect that Clinton et-al get right down to business on these trips and point out that we own Saudi, control Iraq, have our population prep'd to cut off Iran at a time of our choosing, and control a fair number of worlds energy arteries as well.

And I suspect that the argument is a compelling one...for now...

[corporate88slave]

I thought Russia already dropped it for their own currency.

[hirotakajun]

06/08/2009

Italysfinancial police (Guardia italiana di Finanza) has seized US bondsworth US 134.5 billion from two Japanese nationals at Chiasso (40 kmfrom Milan) on the border between Italy and Switzerland."

[hirotakajun]

3/30/2009

WASHINGTON-- The Treasury Department said it has about $134.5 billion left in itsfinancial-rescue fund, giving the Obama administration a cushion as itimplements expensive programs aimed at unlocking credit markets andboosting ailing industries."

[oryxx]

write on your dollars...

"Not backed by gold." - or "Peter Schiff was right." great way to advertise. How many people exchange money?

[jzmdi493]

Hyperinflation is coming and we must listen to Peter and prepare before our U.S. dollars are worthless. Read the latest article about Peter and signup for the free newsletter at: Inflation . us

[DillonX]

We have about 200 countries - can someone list the countries that are calling for a gold standard?

Now I'll concede we'll eventually have one world currency, but I know of no country calling for a gold standard.

[bluedonkeyman]

Japan got caught with their pants down sending two agents to unload bonds in Switzerland who got caught in Italy. I dont believe for a second that these were forgeries. I believe it was the beginning of a mass dump. Japan's comments were just a show in order to cover up their real plans. Since they got caught, they have no other choice but to talk up the dollar.

[harveybirdmannequin]

It really does not make sense that these US Treasuries would be forgeries.

Counterfeiting only devalues the legitimate supply of whatever it is you're counterfeiting. With Japan being one of the largest holders of Treasuries it does not make sense.

Also one would imagine that the US government would be absolutely FURIOUS that Japan would be counterfeiting US Treasuries especially if motivated by Japanese government officials.

[ZullGostnu2]

One word.... Titanic

[AreYouConcerned]

911 Call Ends in Outrageous Strip Search channel 3 news

Victim - It felt like being raped without penetration.

/watch?v=8lpCwKs-y6Q

[emdafx]

First call to sell dollars was when FED started to buy bonds... This to me is another good call to sell dollars. When someone wants to sell something they have to say that the product they are selling is very good... and also... What did those Japanese wanted to do with 134 billion in bonds in Italy ? wow this is getting interesting.

[ciberwarrior]

Japanese are shit scared of N Korea, and only America stands between them and lil kim.

[Kiro123123123]

That was once true. It is no longer true with Obama. He has shown now commitment in protecting our allies.

[spyletu]

no everyone is shit scared of japanese starting to arm itself, because everyone knows they can fight.

[commonsense2008]

I am collecting dollars, since they may get worth something in 100 years from now, like the Dutch gulden.

[TheAppalachiankid]

But you'll be dead in a hundred years so what's the point.

[CarryANation2]

And two Japanese nationals were caught smuggling 135 BILLION dollars worth of US bonds into Switzerland in the false bottom of a suitcase.

These comments were for public consumption.

[950horsepower]

7:10 / 8:48

I don't know, Pete, it seems to me that the Japanese might know something you don't. I mean, I can think of a few things that could be done to turn things around in a big hurry, and they are in capable if irresponsible hands.

A massive technological breakthrough, for instance. A dramatic drop in fuel prices. Dissolution of the FED.

[Mojo1982]

Schiff is a great economist, but I get the impression he's naive on Geopolitics. Japan, like Germany and South Korea have been vassal states since the end of WW2. Japan like the Saudis have no option but to buy US T Bills, because if they don't there would be consequences. But Russia and China have leeway which others don't, hence their provocative statements. US hegemony is based on the dollar monopoly.

[akula89]

I predict US dollar will be pumped up to around 1.2 vs. the CAD, then she will fall hard

[IndyPromoter]

Our dollar is like a yoyo

18 Jan 2002 (low)0.62 USD

07 Nov 2007 (high)1.09 USD

12 Jun 20090.89 USD

[jwinter228]

Great insight as usual, Peter. We need you to run for office!

[LoveAndLiberty1776]

Have people become too complacent with modern living? Have people forgotten the tyranny of subjugation to a king? Have people forgotten the horrors of slavery? Will they wake up before it is too late?

thomaspainereturns. net

[BobakDarooee]

I guess my point is that, there has not been economic sovereignty for 6 decades in Japan...J's comments are very predictable..Its like listening to Bernake criticise the gold standarding, and being shocked..

[BobakDarooee]

ok, total amateur here, but..if I understand correctly, youre principal argument is that the statements made by J were most likey just for show, bc they obviously understand inflation is coming...youre right. why shocked?

i think its an important fact that J is, if Im right, the largest holder of us reserves worldwide..maybe #3...either way, the economies are linked...point is; he HAS to say that, even though he knows it to be patently false...if the us dollar crashes, so too will the yen..No?

[spiggitybap]

What happened at 1:01? This video is shorter than the rest, did some get cut out?

[eventuallythetruth]

Hi Peter,

You mentioned the almost certainty now that hyper inflation is going to happen along with Mark Faber thinking it's 100%.

Could you please give some sort of approximate time scale on your radio show this week as to when you think this could be a possibility and how will hyper inflation affect commodity based European companies e.g Oil stocks and Europe in general if the US suffers hyper inflation?

Many thanks for the great service you continue to provide to ordinary people out there

[dudebud007]

the inflation will kick into higher gear by the end of this year...it will slowly accelerate next year and then by 2011it's gonna Shoot up

[maxine2win]

Where is this mythical inflation going to come from?

[foospecial]

Inflation isn't mythical. The value of money doesn't change based on increasing the money supply. Thus, when you put more money into the supply it MUST take value from the existing supply making each dollar worth less than before. That is inflation.

[maxine2win]

Increasing the money supply does NOT necessarily cause inflation.

Britain had no inflation 1832 - 1914

Did USA have inflation in this period - excluding the Civil War

[ZanyGoof]

Increasing the money supply IS inflation, prices are always higher, baring an increase in demand for money, after the increase in money. Whether a price index shows an increase depends on productivity or who is doing the measuring. In fact, increased productivity during the 20s masked the monetary inflation which would lead to the Great Depression.

[ZanyGoof]

sorry I meant prices are always higher than they would be absent the monetary inflation. That is, they may have fallen 5% instead of the 10% they should have fallen.

[mossbergmaniac1947]

the strong dollar policy is like the Loch Ness monster LOL!!!! Way to go Peter!!!

[InCharacter]

Mossberg:

Yeah, the only difference is that the Loch Ness monster actually brings wealth to it's people; by drawing tourism!

[MooseOfReason]

Much improved audio. Good job, Peter.

Also, I love the video title.

[harveybirdmannequin]

After Japan defeat in WWII, the Japanese are slaves to the USA. It's much the same story with Germany and the Allies the USA saved. The Japanese have basically no military so they have no choice but to obey the USA. Their constitution prohibit Japan from having a large military even the name is the Self Defense Force. Military power is a huge difference between creditor Japan and those like China.

Oh well if Japan wants to keep its people as slaves so be it.

[InCharacter]

Harvey:

Excellent point, I was just thinking along similar ar lines myself. Good adjustment to the audio Pete.

[harveybirdmannequin]

The bottom line is that Japan will never sell the US Treasuries even if it is in their own interest to do so. It's not their confidence in the US dollar that is unshakable. It's their servitude to the USA that is.

Consider that during Japan's lost decade in the 1990's, Japan could have sold the Treasuries they had accumulated up to that point to save their own economy but they did not.

Not only Japan but Germany, South Korea, and all Western European nations fearing Soviet domination.

[maxine2win]

WTF.

It's 2009, not 1979, nobody fears 'Soviet' domination any more

[shocker315]

search this phrase: 2 Japanese carrying $134 bil worth of U.S. bonds detained in Italy

[CurtHowland]

That's just freaky.

Not "million", but "Billion". More money in that suitcase than any individual in the world owns. How loyal would that currier have to be, really?

Heck, that's enough to corrupt ME!

I had to tell my wife about that story three times before she would believe that I hadn't mis-spoken or she mis-heard what I'd said.

[1217jesss]

It would be great to have someone like Peter schiff that would speak with truthfull clarity and raw honesty in the senate and demonstrate to everyone in government how to be the true voice of the peolple. GO SCHIFF!!! GO RON!!!

[miamistorm]

You're the man Peter!

[stratcatavarious]

YAY - better sound

Thanks Peter!

[AnotherUserNamedPaul]

Mic is only marginally better and I have all of my volumes turned all the way up and the level barely acceptable.

[CraigMerton]

Perhaps you should check your equipment because the audio level is perfectly fine. In Vista there is now a sound mixer that is addressing a sound level to each application, you may also want to check that out.

[AnotherUserNamedPaul]

I'm listening in XP. It's a laptop that I've owned for 3 years. Everything else sounds normal. The speakers are quite loud and clear for a laptop - I think they're made by JBL.

[thedopestbeats]

The strong dollar policy is like the Lockness Monster - no one's ever seen it! Go Schiff!!!!

[warpicachu]

now the mic is ok!

[krnboy32]

Japan are using the ninja tricks of camouflage. Tell them everything is fine while their ninjas sell off the us treasuries/bonds.

[Epic878787]

Those Japanese just aren't sneaky enough.

[nxn8690]

No, Echo!!!!! It's good one, Peter. Thank you.

[leninstreet]

Two japanese businessmen have been arrested in Italy trying to smuggle in $134.5 billion worth of bonds. This has embarrassed the Japanese. Thus they go out and say this foolish thing. It is simply a way of saving face.

[Libertarianman88]

How are they able to get a hold of such a larger number in treasuries. According to the bloomberg report they would be the 4th largest holders in US debt if they arent counterfeit. And if it is counterfeit who the hell would counterfeit such a large amount of treasuries and possess them all at once its such a rare and obvious thing.

[leninstreet]

They are not counterfeit. This is quite obvious since they are in such large denominations(500 mil dollars each). No private institution, not even a bank would normally buy these. These would only be brought by governments. The possibilities are

1. They are moved to switzerland for safekeeping.

2. They are desperately trying to sell these.

3. They where deliberately trying to get caught in order to give them an alibi of not selling when they should.

[bajoverga]

Schiff is the man!  ct SENATE!!

[marniespeaks]

you mean government's lie?

really?

[Libertarianman88]

Well its very funny that 2 Japanese people were caught in Italy with 134 billion in US treasuries trying to cross into switzerland. Look it up on bloomburg or google it . The Italian officials contacted the SEC to find out if they are counterfeit. And now Japan comes out today and says how great they are. Something is up.

[JurkoffJay]

Volume is good. Yaaaaaaaaaaaaaaayyy!

[oryxx]

Audio is perfect. Thanks!

Japan is keeping the "perceived" value of the US dollar up so that it can get out of it when its high, then let everyone else holding it up take the deep fall.

[christo930]

I think Japan may be fearful of a war in the pacific involving Japan and N. Korea and wants to keep a good relationship with Washington. NK has already stated that a search of their ships is an act of war and I think they have the political will to actually respond to it with their military and I think Japan knows it too. That is probably not their only reason, but it might have played a part.

[SolitonPL]

Great quality of sound! Finally ;)

[dudebud007]

does anybody know or Have the address to that article what peter's talking about ?

i wanna see it for myself

[dudebud007]

never mind, i found it !!!!

[jimjaas]

Wow ! Perfect audio. Thank you!

[dabruin2]

All countries are trying to get out of the dollar, everso slowly. While the American is holding a party and getting drunk off his ass, the other members of the party are trying to exit ever so quietly before he throws up all over himself.

[werdnanage]

Amazing topic to listen to as I sit here and do my Law of One Price and Absolute/Relative PPP homework.

Thank you for starting to post so much video content. The videos are both educational and enlightening. Also, the audio is much better!

[jnsh85]

How true, Great insight!

[D4Shawn]

I kind of like this kind of optimism (false hope). I figure it buys me more time (to buy silver and whatnot).

[JacobSpinney]

Thanks for fixing the audio, Peter. You rock!

[D4Shawn]

Audio quality FTW.

[Ch28Kid]

I totally agree. I mean a simple game theory is enough to justify Japanese comments on US unshakable confidence. Since they have so much debt, there is no incentive to say they are losing confident in US dollar.

I think it's a strategic move by the Japanese bank, slowing down drop on US dollar.

Thanks Peter Schiff for the insight.

[KhmerD0g]

the japs are secretly getting out of the dollar. that is why they are propping up the dollar.

[jasonmphillips]

I love the updates, and thanks for fixing the audio.. Have a good weekend.

[livefree1789]

June 12 (Bloomberg) -- Japan is investigating reports two of its citizens were detained in Italy after allegedly attempting to take $134 billion worth of U.S. bonds over the border into Switzerland. "

These could be fake, but wouldn't it be hilarious if Japan is trying to secretly dump US treasuries by smuggling them out of the country?

[KhmerD0g]

their goal is to divest out of the U.S treasury bonds secretly. that is 20% of their debt right there.

[ironmanjakarta]

sounds like japan looked up "head fake" and got it reversed. first you talk up the dollar, THEN you secretly sell it, not the other way around. doh.

[rikestard]

End of the world, finally some good news!

[KhmerD0g]

out of the ashes comes new and better beginning.

[rikestard]

God damn right:}

[owenander]

"Strong dollar policy is like the Lochness Monster. You can talk about it all you want."

His analogies are brilliant.

[iamthenow]

I really enjoy your videos, I am by no means a person who really understands the financial system but you seem to make it easier and more logical to understand. I agree with you on this video very much, I don't even have confidence in the US dollar, how could Japan. They probably said it and then all laughed under their breath.

[peilthetraveler]

Thanks for fixing your audio....been hard to understand you the last 2 videos.

[odin422]

we still have 50,000 troops there right???

[audioX1]

thanks for fixing the sound

I hope you run for senate peter.

[esoteric111]

Oh and the sound is a lot better.

[esoteric111]

Awesome that you're starting to do these daily, nice video.