Peter Schiff 1/23/09 - CNBC Kudlow & Company

[jdepps13]

bc schiff understands that the dollar and the us economy and all its debt is worthless. when people figure this out en masse they will race to invest in actual things and not in dollars. hence, the oil move.

[ucnews]

Sign the petition demanding congress to focus on TRICKLE UP stimulus plan amendments. Instead of a stimulus package that relies on the benefits trickling down from Wall Street to Main Street, the benefits of this plan will trickle up from Main Street to Wall Street.

[Badfellah]

Why does Schiff believe the oil price will sky rocket when it finally has been confirmed as "bottomed"?

Anybody share his view, or can explain why he thinks that?

Thx.

[yhamdon]

Oil is currently the most sold commodity. This has taken place due to the vast majority of Banks & Corps having to cover their loses. Lets remember that commodities hold intrinsic value, or what I like to call 'True Value', unlike paper instruments like cash. Therefore, as commodities are not in infinite supply, this forced selling will stop.

[yhamdon]

The forced selling of assets with true value is the reason Oil is low today. The reason Oil will 'sky rocket', like peter Schiff rightfully predicts, is based on 'conventional oil spare capacity. Spare capacity it the ability to produce more oil than demand. This is necessary so if you have a disruption of oil, say like a hurricane in the Gulf of Mexico or a pipeline disruption in the middle east, other producers can counter by turning up the taps to assure consistent supply.

[yhamdon]

Since the first Oil was produced in the USA, the World has always had spare capacity, for example, according to the EIA, in 1985 the total spare capacity of the World was about 23%. Meaning, Oil producing countries can turn up the tap quickly if need be to fuel economic growth or counter disruptions. Today, there is less than 2% spare capacity. And according to UK Dep. of Energy and EIA, the World's output will begin dropping vs. reserve supply by 6-9% yearly.

[yhamdon]

In conclusion, Peter Schiff is correct with his forecast that Oil will rise, as you have limited credit to fund new exploration and mostly because even if the World economy contracts by, say 3%, Oil scarcity will be declining even faster from this point forward. And when you have scarcity of a thing, you have increased volatility with an steep upward spike. Hope this helps.

[Badfellah]

Thanks for a good reply yhamdon!

Appreciated.

[ExtraTerrestrials]

i think they hate peter because peter is smarter and speaks the truth.

[dooglio]

God I wish Keynes' work would have died with him. These guys spout off this nonsense like it's the truth. Deflation would be a good thing, if the gov't would just allow it! Tell me what is wrong with falling prices?

[dax313xab]

Peter Schiff The European lobbyist. America does not have the gold market cornered at all. If we all wanted to go back to gold the -- World Central Banks-- That dont include Russia, China or Iran. would finally own America and see us to our demise with WWIII!

[thinkrevolution]

Schiff 2010

[EliteWarrior8]

LOL the idiot guy with the glasses and the gray hair just said that

"and when there is a shortage of worthless paper printing more worthless paper makes it more valuable" LOL WTF

That is the most stupid idiotic sh** I've heard all week!

wake up people!

[kbeck8989]

Why did the pundants agree with Peter Schiff? Aren't they always supposed to be ridiculous? The chick on the top left was pretty retarded, but she actually agreed the tarp was inflationary.

[dnbjarhead]

I totally have a mancrush on peter schiff

[infopatriot]

"Paper is only the ghost of money." Thomas Jefferson

[infopatriot]

This woman is a top financial planner? She sounds like a moron to me. First off inflation has to do with money supply, the Fed is printing it like it is out of style. Second, if you would have put all your money into gold for the last 8 years you would be one happy customer. Gold was up 5% last year. Putting your money into real money was not silly, it was smart. I would not trust my money this bitch. Stocks are run by corrupt assholes. Gold is not liable to anyone. Hardly silly if you ask me.

[FoShizzle951]

If I was on a panel with the Schiff, all I would say is, "Peter Schiff is right."

[yoshi3329]

love the videos. Keep posting more!

[TheFlex21]

the ageing blond bimbo is going to loose a lot of money

[heyocanada]

somebody should have told these guys that peter shiff is the only one of them worth listening to.

[davidedwardclark]

Schiff PWNS the regular jabronies AGAIN.

[cyalaterthan]

spread your money around don't put your eggs in one pot way to tell them peter the EDUCATOR

[ThizzFaceOffNike]

lol @ peter's face when she said she bought GE

[geeoogle]

The two people on the top of the box are correct. Oil will not break $50, and Gold is good to sell now. World needs circulating cash which means govts will sell gold. Until credit is flowing again, deflation is here to stay.

[tajlee1]

Buying GE!?!? IT'S EARNING ARE OFF ALMOST 40% YOY - she's misinformed and spreading misinformation!

[tajlee1]

I meant to say it's earnings are off over 40% YOY. No one in their right mind should be buying GE.

[TyredUvBS]

That blond woman must be a shill for warren buffet because all of the companies she mentioned, GE, proctor & gamble, coca cola, johnson & johnson are stocks that buffets has been accumulating, i personally think he's made some very risky and badly timed buys. the oracle's time has come and gone.

the economy is not recovering whatsoever. stay away from all stocks, not just financials and listen to peter, in the LONG TERM, you'll be glad you did.

[tajlee1]

I agree. Unfortunately, Buffet is going to lose a lot of money this year. I misspoke initially. GE's earnings are off over 40% in the fourth quarter and over 20% yoy. Nonetheless, they paid out a whopping 72% of their net income in dividends! In addition, they have over $500 billion in debt (over 4 times their stock market value), mostly in its financial division, which has been bleeding cash like crazy. I wouldn't touch GE with a 10 foot pole.

[myrelative]

who's the guy in the lower right?

kevin something, something commodities analyst?

he sounds interesting.

[stealthpakfa]

in hate women that think they know about economics.

[stealthpakfa]

i think this woman is a zionist.

[myrelative]

I think you're an idiot

and I have more proof you have for your claim.

[beeobeeisapieceofshi]

of course but so is schiff. schiff is an under cover zionist, he supports immigration into america

[teewillis1981]

You conspiracy theorists are insane. You create your whole reality based off of smoke and mirrors.

[beeobeeisapieceofshi]

more like hard provable facts, but whatever makes u feel good about insulting us

[teewillis1981]

It doesn't make me feel good. But I would like to see these hard provable facts

[beeobeeisapieceofshi]

oh god.. where to start..

how about the donations to the presidential candidates?

goldman sachs #1 donator to obama

right behind is jp morgan, morgan stanley, merrill lynch...

i was going to link you to jewwatch but..

i just saw you were an anarchist and realized there isnt much point. maybe try the alex jones show for starters but even he wont mention the zionists in any detail

How about all the jewish apointees?

[teewillis1981]

So essentially you are an anti-semite?

[beeobeeisapieceofshi]

i revise my previous statement, i dont see any reason why she is a zionist. i think she is a dumb goyim being used by them. i think she really believes G&E is a good investment.

[dx11101]

I like peter but the only reason hes on the news is the sensationalism he brings, he keeps people tuned in period. Otherwise the news is propaganda conduit.

[Justbeatit999]

God I love Peter Schiff! By the way, I always go to financialtruth0.blogspot . com because they post always the latest videos there of JIM ROGERS, PETER SCHIFF, MARC FABER and RON PAUL. Thanks for uploading!

[6283125]

Funny how cnbc is owned by GE....guess she wants to be on the program more often. She just bought GE! Funny I bought 5.00 june puts in GE. There earning on Feb. 23 were terrible. Lets see who gets this one right!!

[Tasadaru]

WTH man! Why are the people who right on the bottom?

[ZiggyStardust2329]

wtf...Schiff's been talking about $2000 gold for 2009 and now he changes his mind and says 7:1 ratio?? A 7:1 ratio would be more in the sense of $1000 gold to 7000 Dow...

[kevinabt]

Maybe he is predicting that the DOW will be at 14000. Possibly because of large price increases due to inflation (rather than actual value added).

[ZiggyStardust2329]

hmm perhaps

[myrelative]

do you think he has a crytal ball or something?

besides that, peter is on these shows to attract clients to his investment firm specializing in foreign stocks.

I'm not saying he's making this stuff up to get clients, he made some interesting speeches and written 2 books worth reading.

still, make up your own mind. peter's been wrong on the timing lots of times. everyone has.

[rockhuddy]

He's gotten timing wrong, but he repeatedly tells his clients not to invest money they will need soon. From a long term perspective he's done pretty well, and will probably do even better as the US economy continues to crumble.

[myrelative]

that remains to be seen. several of his so called "conservative, dividend earning stocks" got wiped out. bankrupt.

no long term perspective is going to bring that back.

he may still be right and make up for the losses if the US indeed gets hyperinflation. but in pretty much every other case he's not done well.

and not even peter himself is sure of hyperinflation, he just thinks it's a scenario which is getting more likelier considering what the feds are doing.

[alex94115]

Its actually amazing how dumb these people are compared to Schiff. They look like dear in headlights. Debra's stoopid comment "its silly" to put everything in gold. What an ignorant comment. CNBC never gets smart chicks on, only the cute dumb ones. "I actually bought GE today". and Jerry a columnist?? The solution to deflation is to print more. My money just left US equities for Australia and Canada... adios USA

[Signzit]

these government hacks are killing me. I hope they pay Peter a lot more to appear then they do these ass-clowns.

[procrastin8er]

why do we have to listen to these government pushers. if you are going to have peter schiff on, just have him alone, because we can see through the bullshit these clowns and hookers are doing on governmnet's behalf.

[EdMan2012]

fair and balanced? ha ha. Keynesian people make me laugh.

[elboertjie]

The extreme drop in the Baltic Dry Index is a clear indication that the demand for oil has dropped.

Hardly anybody is shipping goods these days.

[AwakenSafely]

fascinating!

[patrikkorda]

schiffy just gave me a stiffy~ ...again!