Peter Schiff Trying to Get The Message of Impending Hyper Inflation

[Zimnyification]

I wish this guy would shut his face and let Schiff talk.

[bellcord]

Well two years later and Schiff still looks like a big dick....wrong again Petey...say Hi to your dad...in the Federal Slammer..

[chevycf15]

For once, the host actually let him speak

[GusBariga]

haha, you can get an extra pack of gum he says.

[AtlasShruggery]

In May 2002, Schiffty Pete predicted hyperinflation, soaring interest rates and the Dow falling to 2000 within two years. None of that happened.

Now Schiffty Pete predicts that the price of an ounce of gold will rise to $5,000. It'll be interesting to see how that prediction turns out.

Personally, I think Schiffty Pete is just another fearmongering RepubliCon politician.

[residentzombie]

Wow are you way over analysing that statement Peter made. He doesn't believe (at least not publically) about a global conspiracy at the moment. He is trying to gain ground in CT against the establishment that is leading in the polls and was trying to cater to that crowd. Peter is anti-New World Order just because he is an Austrian economist and just like Rand Paul, the establishment doesn't want the third party to rise.

[Thetruthishere11]

I agree. he does exaggerate a bit. He's trying to predict that we will go the Latin road like Argentina, Bolivia, and Brazil.

I don't see that happening.

[flatjawspud]

@Thetruthishere11 7months later, still think hes exagerating?

[Thetruthishere11]

@flatjawspud

we aren't in hyperinflation yet. I agree with most of his comments.

[shmuel33]

Spending and consuming in America is based on dollar recycling, namely PETRODOLLAR RECYCLING.

YOU PEOPLE ARE ALL IDIOTS. Your economy and the strength of your currency are all based on a FUCKIN SCAM.

THE PETRODOLLAR SCAM.

[mediblue9]

who is the tool talking to Peter. China is not broke, Japan is not broke, the Saudi's aren't broke.

[TheEdifice]

This is no where near close to the root of our problems

[2freaky4me]

Cutting Water Usage, Shop around for Bargains, Clip or go online for coupons,and reduce Energy Consumption. Some Power Companies have offers of doing an energy audit in Your Home either for Free or for a small fee. This is America! Study those People who always talk about having made it with only 5 dollars or only Pennies in their pockets upon arriving here. To find Success in America You have to think Like a Foreigner ,because they see the Gold in our streets! Sadly, We have become blind to it!

[coejonathon]

how about abolishing the Federal reserve and putting our money back on a gold standard instead of letting them continually devalue our money to the point of if being worth less than the paper it is printed on, literally. that on top of not paying for everything on credit which most of you monkeys with thumbs do...and start reading books and stop watching that weapon of mass deception they call a TV

[2freaky4me]

Everyone in the U.S. should just use good common sense with their Money and where it goes. Just don't live beyond Our means and enjoy the things within Our means. I don't think We should go into Saving-Obssessed Overload. but be more balanced, realistic and honest with Ourselves and Our spending habits..Remember: "It is just as easy to develop a Good Habit as it is to develop a Bad one". 10 percent of a H/hold Income can be saved easily with a few Economizing steps at Home.There's a good start!

[offsprng46]

Peter Schiff needs to stop sucking on the big laissez-faire dick long enough to examine what's going on IN REALITY. Barry Ritholtz had an excellent post a few days ago on The Big Picture detailing how abysmally wrong Schiff has been.

If you want to understand this , you need to forget about money, debt, deficits, etc. They are all imaginary.The real problem is that allowing unbridled speculation resulted in trillions dollars in claims on future output to be made that cannot ever be satisfied.

[supak0ma]

can you hear yourself: "you need to forget about money, debt, deficits, etc. They are all imaginary" that is the main problem and main cause of this mess

[offsprng46]

Yes, because people were so obsessed with those things, they forgot about reality.

[coejonathon]

your debts are fucking real bro, tell the bank that it's imaginary and they will take your "imaginary" house and car.....really bright guy we got here, get that college finance degree out of your cereal box?

[offsprng46]

Debts are real in the conceptual, but not the material sense. Don't agree? Then show me where debts exist in the physical world - good luck to you too, because they don't. They are merely CONCEPTS - accounting entries and the like.

My point is that it is our obsession with maintaining these concepts that is inhibiting recovery. What must happen is for asset prices (e.g., conceptual value) to drop to a level commensurate with their physical economic value.

[coejonathon]

debt in the physical world is money....money = debt.  if there were no debt in our society, there would be no money in existence.......good luck to you too sir, you are going to need it.

[coejonathon]

ps....my finacial degree came from DePaul University in Chicago and i worked as an options trader at the CBOE for 7 years...i wonder what your education in economics is that gives you the 'opinion' that you have, or are you just regurgitating something you saw on TV?

[mediblue9]

tell the landsharks that debt isn't real.

[Whorulesnow]

People need to question Obama. People need to wake up.

[tantingli]

peter is the biggest speculator himself.

In his mind, everyone will abandon US dollar so it will be worthless against other currencies.

Wait a minute. if RMB or CAD or YEN is 200% more than what is now and what will happen?

China,Saudi,Canada and Japan will not export anything to us because how you can afford a 40K Honda civic or 10K SONY TV?

unless you got the printed money but how much? only a few hundred a year?

If they still HAVE to use USD as reserve currency then that wont happen

[mistermagoo88]

Wow, you are dumb.

[Jacobrester]

You are correct....These robots who follow Peter Schiff refuse to look at the facts in front of them

[sscam2001]

Facts such as the sum total of the bailouts exceeding 8 trillion (according to the AP), when there was about 15 Trillion Dollars in the whole world prior to Sept 2008. The US dollar is headed towards .50 USD Index if not lower in my opinion. Bob Chapman said he expects the dollar to drop to .4 USD Index. The strength in the dollar we are seeing (from Oct to Late Dec) is an illusion based on manipulation, it will pop just like any other bubble.

[Jacobrester]

The US GDP is over 13 Trillion dollars per year. Im not sure where you are coming up with the idea that there was not 15 Trillion dollars until after Sept 2008.

I disagree about the dollar heading so low. If that is true, then you would have to concede most of the world's currencies are going to do the same.

And the dollar has been rallying since mid-July of 2008.

[sscam2001]

With a GDP of 13 Trillion and 15 Trillion in circulation you have nearly 1 to 1 party between the dollar and the value of our economy. This keeps inflation in check. So with a GDP that is still hovering around 13 Trillion we now have about 24 Trillion dollars to chase the 13 Trillion in goods and services our economy produces. This is what will cause the inflation, more dollars chasing the same amount of goods and services. Get some "real" money with the "fiat" money while you can.

[cstarsoft2000]

How unfortunate that the vast majority of our fellow citizens will continue to believe that the almighty government can actually "fix" this.

[Justbeatit999]

I always find the latest videos of PETER SCHIFF, JIM ROGERS and RON PAUL at financialtruth.blogspot . com thanks for uploading anyway!

[rh7onda7]

googled it and couldn't find it?

[Justbeatit999]

financialtruth0.blogspot . com (sorry forgot the 0)

[whitwt]

Third.... wah wah....

[johto]

second :p

[kulbir444444]

first