If you really want to understand inflation and interest rates etc. (and you're like me, who didn't really understand), google "hmscoop.com". Real quick cut to the chase website about inflation and banking. Takes about 5 minutes to read through, but you'll understand it afterwards.
It's funny how Schiff is their crystal ball now. A year and a half ago these Fox types laughed at Peter and shouted him down, now they still shout at him but only because he can't predict the future perfectly. LOL. Time to buy hard currency
Those so called rating agencies are a joke, they adjust ratings rather after than before an entity collapses due to its heavy indebtedness! They should've prevented that in the first place, by giving out accurate ratings (they should be hold accountable).
Capitalism is the wage slavery of immense humanity in a politically manipulated MARKET SYSTEM of artificial scarcity and manipulation to perpetuate the conditions of servitude and exploitation of the working people in the interest of the owning/ruling elite. Capitalism is historically outdated,dangerous destructive ,dehumanising and devaluing all and everything in its insatiable,nomadic rampaging of profit . Capitalism is evil
buy silver for the aftermath, collect up a 60 day food supply befor a can of beans cost 5-10 $ silver will give you buying power to restart life when the worst is over. dehydrated foods can sit in your basement for 20 years. buy now or wait in the bread lines latter.
Think about all the problems in this country. ....most comes directly back to the fact no one is held accountable for their errors and corruption.... OH the hell with it . We're all screwed. I BET SCHIFF DOES HAVE A CHUBBY AND WOULD GIVE UP RED MEAT TO CRAWL IN HER BLOUSE!!!
My uncle(whom i've only seen 1 time in my life) lives in America for about 30 years and he called us (in Belgium) and said things haven't been this bad now since i left here in Belgium when black sabbath played in jazz Bilzen. but the crisis in europe is also very very bad. not as bad as America though...and i couldn't be happier. let it crash. i don't care.
The US is suppose to be about individual liberties and freedoms, not special treatment for collectives and groups.
The US is suppose to be about equal opportunity, not socialized equal outcome.
The US Constitution was basically made to protect the people from big reckless government.
--Think about it.
Controlling the economy means controlling the people as seen by Hitler. Obviously, obama is transferring control to government forcing Americans to become more reliant and dependent on them.
"From the jewish perspective, I'm a supporter of Israel. From a pubic tax dollar standpoint, Israel is a asset to the united states in a volatile part of the world. From a strategic and military standpoint it makes sense for America to be invovled."
Visionaries of peace can not emerge in the marketplace until competitive private currencies become legalized. The true creators of credit do so with their imagination and with the capital of their ideas. It appears the process of monopolistic force can not be stopped, and the continuance of blind production shall guarantee our destruction.
peter, the next bubble crash will be the commerical real estate.u watch and see im following u,beacuse your smart and making me smart. tyson from nashville.,tn
@WarzSchoolchild You thought of that yourself?! Cause if so, I'm gonna quote you! Otherwise I'm gonna quote the smart fellow that actually made that up!
Wow, I'm impressed with that info-babe in the green sweater. She really sounds like she's catching on to what's happening. I don't hear any more joking, no more snyde comments etc. Good for her.
So-called? Well what is it to you? Crime or not? Fraud or not? They're either criminals, or they're not. Make up your mind please. Couldn't agree more with the rest of what you put though. Well said.
Corporations own the politicians. So really don't even bother mentioning the governement, it's just there to help you comply. I prefer corporatocracy, sounds cool coming off the tounge ;)
Am I suppose to have something to reply to in this post though? Were you even talking to me?
I do know how we got here, to a degree, we just disagree on which things caused what.
A bit pompous of you to try and say that your idea of what caused this is the benchmark for everyone else to compare to. You cannot tell me the soviet union crashing didn't happen because of the way the world economy suddenly inflated, and then after the soviets fell, we didn't stop the growth. That's what I've been talking about the whole time, you seem to be talking about the means by which they did it.
W got hr as a rsult of govrnment overspnding. We get out of it by rducing spending. Problem idntifid, problm fixed. Focusing on paranoia is a wast of time.
I've learned more about the money markets & stock exchange from Peter Schiff than anyone else on the web. His sincerity is immutable and his delivery of facts simple for a layman to comprehend. I know he doesn't want to go there but I get the feeling the Fed wants to ruin the US dollar, & has some hidden agenda other than representing the American people. Could this be so? If America is the land of the free, why do all these officials always seem to be deceiving the people whom they work for?
Seeing some of these comments tells me we're doomed. Rather than dealing with the isssue at hand most people want to bring conspiracies into the mix, which deflects the issue and also creates a defeatest mentality.
And it seems all you want to do is keep conspiracies out of the mix. What to you is the issue at hand? You're preaching the same crap the media pundits do, as well as congress.
You, like them, are saying, ignore the man behind the curtain, pay no attention to the people that set this up and did it, let's concentrate on how to fix it
There were things in place that they dismembered. Glass/Stegall being one. So really, it's all about blame. We're just not blaming, well, at least you aren't.
Well said. I'd agree with you that the central planners are the problem, but why wait until the 80s? Why did our markets and money supply remain fairly constant until the late 70s? The gold standard was removed, which in my opinion, was the last thing holding these guys in check. Every president since the fed was created has done a little piece, but it was raegan who started this ball rolling. Not only was it a newer implementation of faulty policy, It was the boldest move.
When exactly? And can you give examples? I'm not sure if you realize this or not, but reagan started this time bomb we have today. Ever hear of reaganomics? He and the fed crashed the russian economy. When exactly do you think all this started? And I mean the true switch over from a value based economy to a debt based one.
If we assign the blame to where it should be, the fixes will follow automatically. Our main problem now is allowing the rich to be above the law, so they shift the blame away from themselves and we allow them to do so, if we did not, and if we forced them into jail where they belong, the problems would fix themselves naturally.
Also, congress and the executive branch have been there hand and hand with the banks for the last 15 years setting this up. So, they belong in jail too.
@bweazel: Problems don't "fix themselves automatically" Obama is a perfect example. He was great at pointing at the problems and assigning blame, but as we are now finding out, that alone does not make the problem go away. He was more concerned about blaming Bush than he was about how to fix the problem. Asigning blame is one thing. Fixing the problem is another.
Oh bs, he doesn't have the balls to blame bush, and he has been very careful not to, since their policies are mirror images of one another. Please find me a clip of obama blaming the crisis on bush (while obama has been in office, not campaigning), or anything about the bush administration for that matter. Fixing the problem is punishing those who caused it and enforcing our laws. If we don't even enforce our laws now, why would you expect them to after this "fix" of yours?
In your opinion, sure. But if they stop spending, and these white collar criminals are still out there and embedded in our government like ticks, I don't see why you're trying to kid yourself into thinking your "fix" will do anything.
Anybody with an honest perception of reality knows that this administration gained power because they were able to point to the republican party and say they were the cause of our problems. Simply pointing to a problem does not solve it. You must have an actionable plan.
Sir, stop regurgitating your same line, over, and over, and over again. You're getting boring. I wouldn't expect you to know what else to say though, cbs and cnbc didn't really explain it that well either when they kept saying, let's not point fingers, let's "fix" it. Hahaha. Right. I'm done with you though, you're just a broken record. Enjoy the fixes they provide you with.
Oh ya, also. Look up the definition of reply. I think you'll be surprised.
both obama and mcain are screwed up , they both thought bailouts were good although obama did vote in 2005 for the "everybody should be able to have a house law "
the only one with brains is that man fro texas , you what his name ? i reckon he has brains enough to equal about 50 of these other guys
And yes, if you believe people are smart enough to make their own decisions about their own life, instead of having a nanny state tell them where they should spend their money, everything works itself out normally and it would find an equillibrium. Government intervention is dangerous and holds us back from any natural equillibrium, instead it is the perception of a society by few that is pushed on the rest of the country. You seem to be advocating more intervention. Am I right?
For the second time now, this is not a rant. It is a debate and discussion, look at the other 3-4 people taking place in it, join in and drop the ad hominem arguments (which usually show the person using them as an idiot that doesn't know anything about the topic at hand so instead of asking a question, they get flustered and try to insult rather than staying on topic, or dropping the pride and admitting you know less). You're too defensive and you're way off topic. Shoo.
Peter,I agree with everything you say. The one thing we do not agree on is their intelligence. They are not dumb,this is being done on purpose. Why would anyone allow millions of illegals although everyone is against it? They want to weaken this country,bankrupt it then rebuild America as a new country...The bill of rights will no longer exist,Money and power by non U.S. interests are behind this and with control of the media and money supply .Votes do not count,it is over. Greed allowed it.
Seems the USA, Europe are stuffed. If they can't pay the Chinese, China will be stuffed. China needs 7% GDP just to stave off civil unrest.. The USA will be paying China for the next 30 years. That is if the Chinese ever get their money back. I can see a future war. Some Country/s probably the USA will start a fire somewhere to distract the population from the financial termoil they will find themselves in. The future looks grim because of self centered pollies only looking to the next election.
Does not sound too crazy.... we embargo japan to force Pearl Harbor... and before that, Wilson dragged US into WW1 for money reasons. I hope you are wrong but... you may not be.
Hahaha. Sure, sure. I'd like to see the agreements between the central banks. I wouldn't be the least bit surprised, when netted, China is paying us more each month. You're spouting media talking points, and as history shows, they're nothing more than cheerleaders for the direction the money powers want to take us. Wake up. Turn off that tv.
But yes, I agree, WW III is on the horizon. But the sad part is, all those at the top agree with each other, and send us to fight it out.
I have a question that has yet to be answered. I have my own guess as to its answer but I want to know what others think.
Q: Why would the American govt. borrow money from a foreign central bank like China's central bank that makes its currency from "thin air" when we already have our "own" central bank that makes money from "thin air"? Did the the federal reserve run out of "thin air" to convert to money? Why get foreign banks involved at all?
It FORCES the Chinese to devalue their currency to loan us the money rather than us just devaluing ourselves. If only the US devalued its currency, it could cause future capital/investment flight since any investment returns would lose purchasing power compared to other currencies (which is what Peter has recognized and has changed his investment strategy). But if our countries devalue also and loan us paper money, then investment flight can be postponed.
Yes. Since the dollar is the world reserve currency, most of the world spends it. If the just the dollar inflated, then present US exports will be cheaper, but returns on investment will be less and future produced goods will cost more. In the present, foreigners will buy and invest in the US. But in the future, prices will rise, US future goods become expensive and dollars foreigner hold become worth less. They then flee the dollar and US goods. The Fed doesn't want the future to happen.
Since foreigners hold mostly dollars, then most of their reserves will also be worth less. To prevent their dollars (i.e., their ability to buy goods worldwide), from plummeting, they prop up the dollar to save themselves. Their own currencies, which would benefit, are not in high enough demand for world trade. So they sacrifice their own currencies to protect their ability to trade internationally. Also the US, via the military, won't allow them to escape the dollar.
You're only scratching the surface, but I guess you think CNBC is being honest with you?
I agree with you there, the military is used to protect profits, it's been like that since..... always? You know of a time this country has been ACTUALLY threatened? No? Nor do I.
That is wrong. China is buying our bonds because they cannot afford to grow without help. Nothing the US does is devaluing the Yuan. The US would want nothing more than for the Yuan to strengthen, it would force our corporations to revalue the jobs they sent there, it would lower China's exports and make ours look a little more buyable, it would lower their GDP as they would then import more with their more valuable currency. You obviously have no idea what you're talking about.
I respectfully disagree. I think your analysis follows a general equilibrium model, an unfortunate mistake made by most mainstream economists. It assumes that either prices can't change with supply and demand or that there is such a thing as a "just" price which must be kept. Anything can be sold at any price. Our current problem is that the Govt won't allow prices to fall to market clearing prices which reflects the level of savings in the economy, which is why the Great Depression persisted.
There is no such thing as supply and demand anymore. Open your eyes and look around. Supply comes first, than demand. Not the other way around like you were taught in school. You don't seem to understand. This is not a value based economy, it is a debt based one. There is no such thing as "savings" in a debt based system. Hording? Sure. Saving? No. The great depression persisted for many reasons. If people didn't get an ego boost from WW II, we might still be in that same depression.
Supply comes about because entrepreneurs anticipate FUTURE demand, meaning businesses men have to contemplate what people will want in the future, produce in in time to meet that future demand and then try to sell it. For example, it takes 10 years to get an oil rig online, what sense does it make to start oil rig production if people want it now? The oil industry would have to anticipate future demand 10 years out to have the product ready when consumers demand it.
That's a nice and fancy way to say the person with the most money will make the best products. Or the candidate with the most money will win. Debt based, debt based, debt based. You're not letting that soak in. Oil is nonperishable, they can pump it out, and leave it in tankers or in pits as long as they need to. Products, not commodities, are forced on people. That's what I said. Do not bring oil (energy) into it, that's a whole different can of worms.
We are now an economy of speculation, no longer one of careful and wise planning. This is why, people don't demand goods anymore, goods are forced upon the people. You could blame this on tv, easy credit, poor schools or many other reasons. This world is only becoming more and more controlled each day. Our economies do not work naturally, they are a huge balancing act, and the only way a perpetual debt based act can continue, is if all the players are playing together. Do you see?
If a country saves a lot, it can withstand investment flight, such as Japan in the 1980's. It hurts, but it's not too bad. But if a country consumes a lot and has little savings, then it's a huge problem, such as the US right now. So if you have the world's reserve currency and the strongest military with bases all over the world and a navy that patrols everyone else's oil sea lanes, you can force the rest of the world to devalue and postpone the problem.
There is no such thing as savings anymore, it's just holding onto someone elses promise to pay longer than you normally would have. Savings is actually a bad thing for a debt based society. If we save more, there is less money in circulation for people to pay off their existing loans, thus forcing the fed to print more to stave off deflation. The US doesn't "force" anyone to do anything. The commodity exchanges are de facto controls instituted and used by the world's money powers.
Savings reflects sustainable future ability to consume. If there are no savings, there is no future consumption, Debt is merely trading someone's present savings (e.g., a loan to purchase a home) for a future stream of savings (mortgage payments, as if someone would have saved up and bought the house in the future). Without savings, debt issue and repayment is impossible. Counterfeiting and artificial credit expansion only creates the illusion of saving, which is why we have booms and busts.
No it does not. Savings, like I said previously, will devalue your currency. If the promises to pay are being horded on a large scale, they are not there to pay off the previous promises to pay, which in turn forces the gov or fed to print more money to keep the currency stable, but as you know, it doesn't remain stable. In a debt based system saving (not spending) begets inflation, which decreases savings, but "saving" also gives the person a form of control. It's a double edged sword.
A debt based currency is temporary, Why do you think casinos use chips? It is easier to bet/spend if you are not actually laying the dollars down. Dollars replaced gold and silver now computer credits replace dollars. Cash is a freedom and will no longer be tolerated. One can hide cash or gold from a government,once it is a credit/computer system you will no longer be able to hide anything or make any non government approved transaction.
Thanks for the advice.lol I am not compairing either,the example just shows the steps used to cause more spending and less saving. When someone swips a card they do the same, Would a person feel the same if they took $30,000 cash into a car dealership and counted it out before buying the car as compaired to signing 6 sheets of paper and no money out of pocket? This is enslavment and nothing more.
Cash is still a promise to pay. Just because it's not your promise to pay, does not mean it wasn't someone elses promise to pay that was exchanged with you or your employer for the services you can provide. Every last little bit of "money" is a promise to pay. Bonds bought by the fed, which they in turn fund the govs accounts, which the gov owes back to the fed at interest. You cannot escape the cage they've built around you, but together, we all might be able to.
I'm not sure I follow. Supply/demand for goods and services works inversely of supply/demand for money. If demand for goods is higher than money, then money will be exchanged more for those goods (spending), which shrinks supply of scarce resources and goods (consumption), which causes prices to rise. If demand for money is higher than goods, then money will be exchanged less for goods (saving), which leaves resources alone to accumulate which causes prices to fall.
Please, you cannot use the economics you were taught in college and high school to speak about our actual economy. If our economy was as easy as drawing some diagonal intersecting lines on a graph and saying this is how it works, we'd all be experts of economics and everyone would know exactly what is going on. I'm still trying to think of a correct name for economics that is taught in the west. It's not social behavior, it's social conditioning. HUGE difference.
Also, let's see if this economics fallacy holds out when people demand money, and they demand goods. Which is what a perpetual debt system will give us someday, but if they get ALL the central banks on board, they could carry this on indefinately. Everything remains constant, another one of those bullshit lines you hear alot in value-based economics. The reality of the world though, is debt-based economics, and you're not taught that in school. They want to make followers, not challengers.
Debt is not money. Debt represents a future good. Money represents a present good, What you say make sense, but it is a result of artificially low interest rates. Due to the price ceiling set below the market level on CREDIT, demand for CREDIT is higher because borrowing is cheaper but demand to save is lower because the yield is too low and requires more leverage for sizable returns. So dis-saving, increased consumption and increased investment occur at the same time due to price fixing.
Ok, thomas. I'm getting tired of repeating myself and reading you repeating yourself, so I'm going to back out of this one before it gets annoying. Last thing I'll say though. Debt is money, money is debt. You need to open your mind a bit more, because what you were taught in school is by no means how the economy actually works. What you were taught in school is how they want you to view the economy and how they want you to behave in it. Economics, as it's taught today, is social conditioning.
We are and have been at a negative savings rate, in the US, for abou the last 10 years. Where have you been? We have booms and busts because we allow a small group of people, instead of the market, to control interest rates. They talk about it in plain view. "Waiting on the fed's decision", "Will the fed raise rates?", "The fed increasing rates means the party is over" Business will mimic the fed. Simple control, that's all it is.
There is a difference between money (claim on present goods) and credit (claim on present goods which would have been bought in the future or current production for future goods).
There's also a difference between fractional reserve banking (fraudulent investment with people's saving which they didn't intend to invest; bad and inflationary) and genuine saving/genuine investment (separating warehouse banking and loan banking; good and not inflationary). You've confused some terms.
Thomas... no there is not. It's all owed to someone. ALL of it, regardless if you were the one to take out the loan or not. No, I don't believe I've confused any terms, you've confused reality and what you were taught in school. ;)
I agree that is how our current system works, but it's massively unsustainable. Money production has to be back by goods production or acquired resources since one is exchangeable for the other. Money was and has to be a commodity produced (e.g., gold, silver, tobacco, etc.). Money arises as the most marketable good for indirect exchange in a barter system. But if money production is not backed by corresponding goods production or resource accumulation, then it leaves less to be exchanged for.
I'm with you there, that's the way it's supposed to work. That's the way we're taught it works, but that's not the way they work the system. What we're taught today is a justification for what seems like natural things, but in reality, are backdoor deals, insider trading and collusion at every level of our economy. They don't teach that in school, but that's the way the best businessmen work, dishonesty. Which you would expect to be taught in a social science dealing with money, alas, it is not.
Maybe it's like juvenile delinquents: even though you can get mischievous alone, you always want company. I guess if we ever audit the FED, we will find out.
I think your kinda right, only it may be worse. I think the FED reserve is the same central bank that the Chinese use, only it goes by a different name. In other words, I think the world's governments have already been usurped by the world's central banks but now they are just trying to legitimize it by saying we all owe money to another country when in reality the dollars could just as easily come from the fed reserve.
Well they have their own central bank, but I agree, the actual controllers are the investors of the member banks. So ya, the same people who invest in our banks and "own" our reserve bank could just as easy diversify themselves into all central banks. Couldn't agree with you more.
America doesn't borrow money persay, our congress makes a budget, and makes a bond offering, people buy the bonds, and they give us their currency at the exchange rate then, and we promise to pay them the full amount at a later date, with monthly, quarterly or yearly interest payments. You need to understand commercial law more, saying money comes out of "thin air" is partially true. Our promises to pay are what gives all currencies value. It's all about promises.
Actually, I believe the money is created from "thin air" because the money is created from debt and is measured in units of debt that are not defined. In other words a debt based system is meaningless when measured in debt. Therefore, to promise to pay back a debt is meaningless when what is measuring the debt is constantly changing.
Let's not concentrate on the "money" though. That's what they want us to do, since it takes you away from the reality of the situation. Money, to us, means value. Except there is no such thing as real value anymore since it has been inflated away into nothing. The debt system should be measured in debt, not value. When we keep allowing debt to be measured in value, we devalue the value. Hahaha. Confusing, yes, but that's the way they designed it.
That is an interesting way to look at it. If I were to measure in debt, what units can I use?
Another curiosity about the debt based money system is the fact that the only money or currency ever produced from this monetary system is the money to pay back the principle of the loan. The money to pay the interest of the loan is never created and is therefore not in the money supply. Every time money is created, more debt than dollars is the result. It's a mathematical "win" for the bank.
GDP growth percentage is what I would measure the bullshit in. You could measure it in gold, oh, wait, no futures control the price of gold, doh, that one's out. I guess the only way to measure bullshit, is to compare it to how much the bullshit has grown compared to last years bullshit. ;)
Ya. It's pretty win, win for them. They don't even have the money to loan you in the first place, it's a damn honor system. Haha. ;)
Hahaha, and even measuring last years bullshit to this years bullshit is meaningless because the units measuring the bullshit change value year to year.
Loan out money that they don't have and then collect interest on it! We should all have a business plan that good. The only way small businesses can compete with the bank's monopoly friends would be to have a "money making" printing press in the basement of all small businesses. That way they can compete with the "big boys" on a level field
Well you and I can create money too. It's as simple as promising something and writing a contract for it. We just don't have a bunch of patsies to raise our collateral base for us while we sit on our asses and collect interest. What a sham we live in.
@bweazel I believe that human nature is such that lazy, corrupt, fat, rich people will be eaten by the working poor, before the working poor will starve. Kick back and watch the show!
I also think that anyone stupid enough to want to "rule the world" is too stupid to be able to.
Hahaha. I'm with you there. It will certainly be an interesting show. Well said, well said.
However, I don't believe that is our nature. Are we corruptable? Sure. Were we born corrupted? I don't believe so. There is a force at work now and for about the last 40-50 years that has been corrupting this country and this world, one generation at a time. We all should be aware and teach our children accordingly.
It's not that we're getting them involved, they see profit to be made from the US so they buy the bonds our congress offered. So really, all these people bitching and moaning about the US need to look no further than their own central reserve banks who have been helping fund whatever the american congress (american corporations) want to do. Personally, I think we're all interdependant on one another, they may be buying these bonds to stay afloat themselves.
Most of you are not in agreement. Where did you even get that? You all would rather blame america than be honest. You all would rather point fingers at the american people of all people, like you're really any different from us. You're not. You're a debt slave also, you are also dependant on credit. You're countries laws in dealing with credit are almost exactly alike. Maybe I should ask you all, why exactly do you believe your economies will be better off than america's?
No, it's a debate, for us both to exchange ideas, and possibly learn something from one another. Don't be such a child about it.
The way in which you all are talking about it. Like you're all going to be better off than us, like Canada isn't a fractional reserve practing country too. It's just anti-americanism. Glad you finally agreed the rest of the world is heading in the same direction. What bs am I talking about? It was all in my last post that you replied to, if you would have read it.
The asian from bloomberg is way better. Come on, brother. Standards, standards ;)
Anyways. We're all on the road to bankruptcy. Why you guys believe america is the only one going down for this, I'll never know. Oh that's right, schiff and the media have been telling you it's your fault for the better part of 2 years now.
Unfortunately, most people (including politicians) choose to ignore, or flat out don't understand what is going to happen in this country. When the system collapses, people will be forced to deal with reality.
Its is also pretty obvious to anyone with half a brain that they(Ron/Rand/Schiff) are right and w/o them and more like them we are royally screwed (no pun intended ;) )
I have heard Schiff say the fed did a poor job, but no where have I seen schiff campaign to abolish the fed, no where have I seen him say he'd rather go without a fed, no where have I seen him say he'd like a gold standard (which I don't think would be a good idea, but it's one of Paul's things). This is a huge difference between the two, so really I'm sure Schiff and Paul would not be friends on the hill. I also don't see schiff make a fuss about the constitution.
@fakeplasticme siad: " ..the collapse will be worldwide, not just in the U.S.. However...the collapse here will be bad...and by bad I mean...get out of debt now, and stock up on the essentials (that includes guns) "
Bingo!. can see why 2012 is important,we're about to relive an old cycle, this time it's effects will reach more like no other collapse has reached..this one will be "world-wide"
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Do not mold the two together. Paul and Schiff's reasoning (though they do share some similarities) are completely different. Schiff hardly ever talks negatively about the fed, he supports buying gold as a hedge, he's running for the senate (who are corrupt as all hell), Schiff speaks of china as being our creditor. I've never heard Paul support any of these things. So really, I don't see where you get that there messages are the same.
I disagree there as well, though they are two different individuals with their own opinion and thought process, they come from the same school of thought, Austrian economics.
They both utilized the teachings of Ludwig von Mises, Frederich von Hayek, and Murray Rothbard. the Laissez-faire approach.
A strict interpretation of the constitution, Ron Paul probably more so.
Austrian economics is also well known as, reality. So their both realists, doesn't mean they both aren't differing about what actually caused the "crisis" and what to do after. Schiff is telling people to buy gold. Please find me a clip of Paul saying the same. Oh please. Spare me the economic fancy words. Leave it be, again, also known as reality. If someones not leaving it be, someones manipulating. This is where schiff and paul diverge extremely from each other. Paul blames the fed. Schiff?
4:35. I liked him better when he wasn't running for the senate. He would have had the balls to answer a question like that, now he answers just like the rest of the politicians. "Who knows?" It should be obvious to now that Schiff has no foresight past this "recession". Gold? That's it? I'm really tired of people downing on the US like the rest of the world isn't just as guilty as us on this stuff. They all practice fractional reserve banking, they all use credit cards, they all so on so on
He has stated many times how it will unfold but their is too many scenarios that can occur to go through it on a Fox news segment meant to discredit Schiff.
it will be a dollar crisis, More home foreclosures, corporate real estate crash, de- coupling, more war.
Owning physical gold is insurance. He also recommends diverse commodities foreign stocks. He knows transfer of wealth, so as situations change so does the transfer, that's why you can't peg one strategy as a sure bet.
It will be a currency crisis, and all nations of the world will follow. We have technology to thank for this. We have the ease of investing in any market in the world as easy a mouse click away, and so does everyone else. The west will fall as a whole, don't kid yourself and act like the US alone will go down for this.
Owning gold will do you little to no good in my opinion, no one will accept that or even knows how to accept it as payment. Do you think you'll be able to buy a new currency?
Of course it will be a global reaction and other nations living in/off the bubble will be affected but those with productive economies and decent saving rate will rebound faster and thrive as a society.These Nations, and soon others will go back to supporting them selves. Australia alone hasn't seem to be affected by the recession, China has billions of people to buy their products(not barring that the China's leaders have been puppets of the US in many ways, decoupling will happen, just timing)
And who in this world do you know that has decent savings rates? Haha. We're all in debt man. That's what I'm trying to get you to admit here, EVERYONE in this ordeal is screwed. All of our currencies are controlled by a group of international bankers. I just find it funny you think the US is going to take the blunt of all this. We're all puppets, my man. We're all slaves to credit. No one government is doing a better job at handling their bankruptcy than ours is. We're all way above our means.
no kidding my man, what other country can you find that claims 70% of their GDP is consumer spending. Were a broke country living the rich life but not for long. Of course our figures next year for GDP will look healthy with all the debt money being pumped into the economy
Same bs you hear schiff spouting. This is an erroneous and unfair analysis of the situation, you and schiff are acting like the american people and there endless greed (not congress and the fed) brought us to this mess. We are the world reserve currency, we are the commodity exchangers, we are not nanny states like europe who's GDP is probably "70%" government spending. All figures for GDP are pure lies in a debt based system. If you don't even understand that, take your hat out of the ring
If you really want to understand inflation and interest rates etc. (and you're like me, who didn't really understand), google "hmscoop.com". Real quick cut to the chase website about inflation and banking. Takes about 5 minutes to read through, but you'll understand it afterwards.
TomH364 9 months ago
WOW that fox guy is a Dumb ass
Boozebegood 1 year ago
Wow , I like her...
nevesne 1 year ago
It's funny how Schiff is their crystal ball now. A year and a half ago these Fox types laughed at Peter and shouted him down, now they still shout at him but only because he can't predict the future perfectly. LOL. Time to buy hard currency
zingerbatter 1 year ago
Those so called rating agencies are a joke, they adjust ratings rather after than before an entity collapses due to its heavy indebtedness! They should've prevented that in the first place, by giving out accurate ratings (they should be hold accountable).
bramcorleone 1 year ago
This has been flagged as spam show
Capitalism is the wage slavery of immense humanity in a politically manipulated MARKET SYSTEM of artificial scarcity and manipulation to perpetuate the conditions of servitude and exploitation of the working people in the interest of the owning/ruling elite. Capitalism is historically outdated,dangerous destructive ,dehumanising and devaluing all and everything in its insatiable,nomadic rampaging of profit . Capitalism is evil
arzoyan 1 year ago
Fox has the hottest women!
ouluvme2 1 year ago
@ouluvme2 yeah I know, and theres something about that nazi ane coulter that's pretty damn hot too. LOL
zingerbatter 1 year ago
buy silver for the aftermath, collect up a 60 day food supply befor a can of beans cost 5-10 $ silver will give you buying power to restart life when the worst is over. dehydrated foods can sit in your basement for 20 years. buy now or wait in the bread lines latter.
johnywinslow 1 year ago
....AND YOUR RIGHT PIG. She does have gigantic jugernauts!!!
t28c 1 year ago 2
Think about all the problems in this country. ....most comes directly back to the fact no one is held accountable for their errors and corruption.... OH the hell with it . We're all screwed. I BET SCHIFF DOES HAVE A CHUBBY AND WOULD GIVE UP RED MEAT TO CRAWL IN HER BLOUSE!!!
t28c 1 year ago
holy shit. look at liz and her tits!
capitalistpig1968 1 year ago
@capitalistpig1968 no shit!
ouluvme2 1 year ago
It's almost a joke to watch how the same network that laughed at him is now agreeing with him.
It really is a sign of how bad things are.
kosai19 2 years ago 3
My uncle(whom i've only seen 1 time in my life) lives in America for about 30 years and he called us (in Belgium) and said things haven't been this bad now since i left here in Belgium when black sabbath played in jazz Bilzen. but the crisis in europe is also very very bad. not as bad as America though...and i couldn't be happier. let it crash. i don't care.
texasB666 2 years ago
The US is suppose to be about individual liberties and freedoms, not special treatment for collectives and groups.
The US is suppose to be about equal opportunity, not socialized equal outcome.
The US Constitution was basically made to protect the people from big reckless government.
--Think about it.
Controlling the economy means controlling the people as seen by Hitler. Obviously, obama is transferring control to government forcing Americans to become more reliant and dependent on them.
YouSmellLikePOOO 2 years ago 2
what's her name she's hot!!!
I read Peter's book Crash Proof 1+ years ago. Simple: more money created out of thin air= currency devalualtion= commodity price increases
connj67 2 years ago
This has been flagged as spam show
DON'T VOTE FOR SCHIFF! He is a zionist neocon!
"From the jewish perspective, I'm a supporter of Israel. From a pubic tax dollar standpoint, Israel is a asset to the united states in a volatile part of the world. From a strategic and military standpoint it makes sense for America to be invovled."
t2673 2 years ago
Well, the tide is shifting indeed....
socomplete 2 years ago
What's happening?... anchors are actually listening to Peter. No more fooling around, no more "yeah right" interruptions. Is it really that serious?
joro353 2 years ago
Yes, it really serious out there, and get ready for the collpase this year, espeically with the war with Iran.
RobertChavis 2 years ago
Visionaries of peace can not emerge in the marketplace until competitive private currencies become legalized. The true creators of credit do so with their imagination and with the capital of their ideas. It appears the process of monopolistic force can not be stopped, and the continuance of blind production shall guarantee our destruction.
rayzn11 2 years ago
peter, the next bubble crash will be the commerical real estate.u watch and see im following u,beacuse your smart and making me smart. tyson from nashville.,tn
nashvilletyson 2 years ago
as a side note to the economy .... I would love to see those big cans unleashed !
polarbeach 2 years ago
amen brother, amen.
admthrwn 2 years ago
"Alot of American's are losing their jobs, because these guys (The congressmen) are so focused on keeping theirs" One of Peter's Best Quotes!
longtrader782 2 years ago
'Con' is the opposite of 'Pro' so does that mean 'Congress' is the opposite of Progress'?
WarzSchoolchild 2 years ago 13
@WarzSchoolchild. In almost all cases, emphatically YES...
chrispcarrot 2 years ago
@WarzSchoolchild You thought of that yourself?! Cause if so, I'm gonna quote you! Otherwise I'm gonna quote the smart fellow that actually made that up!
bramcorleone 1 year ago
@bramcorleone I stand 'convicted' but I blame my 'muse', the Concise Oxford Dictionary.
WarzSchoolchild 1 year ago
Haha, well said fake.
bweazel 2 years ago
Wow, I'm impressed with that info-babe in the green sweater. She really sounds like she's catching on to what's happening. I don't hear any more joking, no more snyde comments etc. Good for her.
nmreich 2 years ago
So-called? Well what is it to you? Crime or not? Fraud or not? They're either criminals, or they're not. Make up your mind please. Couldn't agree more with the rest of what you put though. Well said.
bweazel 2 years ago
Liz Clayman's tatas for Senate :-b
hostiliscivitas 2 years ago
Corporations own the politicians. So really don't even bother mentioning the governement, it's just there to help you comply. I prefer corporatocracy, sounds cool coming off the tounge ;)
Am I suppose to have something to reply to in this post though? Were you even talking to me?
bweazel 2 years ago
I do know how we got here, to a degree, we just disagree on which things caused what.
A bit pompous of you to try and say that your idea of what caused this is the benchmark for everyone else to compare to. You cannot tell me the soviet union crashing didn't happen because of the way the world economy suddenly inflated, and then after the soviets fell, we didn't stop the growth. That's what I've been talking about the whole time, you seem to be talking about the means by which they did it.
bweazel 2 years ago
W got hr as a rsult of govrnment overspnding. We get out of it by rducing spending. Problem idntifid, problm fixed. Focusing on paranoia is a wast of time.
2uberu 2 years ago
Peter Schiff for President !!!!!
saucertube 2 years ago 2
Another interesting and honest Peter Schiff video. Thanks for posting it.
swirlcrop 2 years ago
audit it. end it. banish it.
redrajani 2 years ago
Speak the truth PETER! Way to go man n hold it down for the U.S. citizen!
chancey1979 2 years ago
American media so concerned over EU's P-I-G-S (Portugal-Ireland-Greece-Spain) debts. Like Schiff commented U.S. has bigger debt.
Both euro and dollar fiat currencies are in serious trouble.
jibbi4one 2 years ago
the red head has the hots for pete.
itubeutude 2 years ago
I've learned more about the money markets & stock exchange from Peter Schiff than anyone else on the web. His sincerity is immutable and his delivery of facts simple for a layman to comprehend. I know he doesn't want to go there but I get the feeling the Fed wants to ruin the US dollar, & has some hidden agenda other than representing the American people. Could this be so? If America is the land of the free, why do all these officials always seem to be deceiving the people whom they work for?
Ctemple2012 2 years ago 2
Peter is the man. It will be nice to see him in the senate.
Unkn0wnGuy 2 years ago 16
The Anchor has a nice rack.
jgpenate 2 years ago 3
Very nice line at the end Peter!
arnejess 2 years ago 2
Seeing some of these comments tells me we're doomed. Rather than dealing with the isssue at hand most people want to bring conspiracies into the mix, which deflects the issue and also creates a defeatest mentality.
2uberu 2 years ago
And it seems all you want to do is keep conspiracies out of the mix. What to you is the issue at hand? You're preaching the same crap the media pundits do, as well as congress.
You, like them, are saying, ignore the man behind the curtain, pay no attention to the people that set this up and did it, let's concentrate on how to fix it
There were things in place that they dismembered. Glass/Stegall being one. So really, it's all about blame. We're just not blaming, well, at least you aren't.
bweazel 2 years ago
You prove my point. Thank You.
2uberu 2 years ago
You had a point? Where?
bweazel 2 years ago
Nevermind
2uberu 2 years ago
Fake:
Well said. I'd agree with you that the central planners are the problem, but why wait until the 80s? Why did our markets and money supply remain fairly constant until the late 70s? The gold standard was removed, which in my opinion, was the last thing holding these guys in check. Every president since the fed was created has done a little piece, but it was raegan who started this ball rolling. Not only was it a newer implementation of faulty policy, It was the boldest move.
bweazel 2 years ago
When exactly? And can you give examples? I'm not sure if you realize this or not, but reagan started this time bomb we have today. Ever hear of reaganomics? He and the fed crashed the russian economy. When exactly do you think all this started? And I mean the true switch over from a value based economy to a debt based one.
bweazel 2 years ago
Which is more important; assigning blame or fixing the problem?
2uberu 2 years ago
I've been saying this for a long time > I agree 100% with you - logical isn't it? Thanks dude
pulpBleacher 2 years ago
If we assign the blame to where it should be, the fixes will follow automatically. Our main problem now is allowing the rich to be above the law, so they shift the blame away from themselves and we allow them to do so, if we did not, and if we forced them into jail where they belong, the problems would fix themselves naturally.
Also, congress and the executive branch have been there hand and hand with the banks for the last 15 years setting this up. So, they belong in jail too.
bweazel 2 years ago
@bweazel: Problems don't "fix themselves automatically" Obama is a perfect example. He was great at pointing at the problems and assigning blame, but as we are now finding out, that alone does not make the problem go away. He was more concerned about blaming Bush than he was about how to fix the problem. Asigning blame is one thing. Fixing the problem is another.
2uberu 2 years ago
Oh bs, he doesn't have the balls to blame bush, and he has been very careful not to, since their policies are mirror images of one another. Please find me a clip of obama blaming the crisis on bush (while obama has been in office, not campaigning), or anything about the bush administration for that matter. Fixing the problem is punishing those who caused it and enforcing our laws. If we don't even enforce our laws now, why would you expect them to after this "fix" of yours?
bweazel 2 years ago
No. Fixing the problem is getting the governmen to stop spending.
2uberu 2 years ago
In your opinion, sure. But if they stop spending, and these white collar criminals are still out there and embedded in our government like ticks, I don't see why you're trying to kid yourself into thinking your "fix" will do anything.
bweazel 2 years ago
I'm not trying to kid myself on anything. Less government spending is the solution. Paranoid fears accomplish nothing.
2uberu 2 years ago
You are trying to kid yourself. Answer my question time please and stop wasting my time.
Do you believe our laws are being enforced?
bweazel 2 years ago
Yes. All the time.
2uberu 2 years ago
Obama is constantly saying he inherited this crisis.
2uberu 2 years ago
I didn't ask you to just say it, please post a link that HE has said it, not the media pundits putting words in his mouth. Don't worry, I'll wait.
bweazel 2 years ago
Anybody with an honest perception of reality knows that this administration gained power because they were able to point to the republican party and say they were the cause of our problems. Simply pointing to a problem does not solve it. You must have an actionable plan.
2uberu 2 years ago
Sir, stop regurgitating your same line, over, and over, and over again. You're getting boring. I wouldn't expect you to know what else to say though, cbs and cnbc didn't really explain it that well either when they kept saying, let's not point fingers, let's "fix" it. Hahaha. Right. I'm done with you though, you're just a broken record. Enjoy the fixes they provide you with.
Oh ya, also. Look up the definition of reply. I think you'll be surprised.
bweazel 2 years ago
Show me where cbs and nbc kept saying "let's not point fingers, let's fix it". News organizations don't provide fixes to anything.
2uberu 2 years ago
both obama and mcain are screwed up , they both thought bailouts were good although obama did vote in 2005 for the "everybody should be able to have a house law "
the only one with brains is that man fro texas , you what his name ? i reckon he has brains enough to equal about 50 of these other guys
throwerofturds 2 years ago
And yes, if you believe people are smart enough to make their own decisions about their own life, instead of having a nanny state tell them where they should spend their money, everything works itself out normally and it would find an equillibrium. Government intervention is dangerous and holds us back from any natural equillibrium, instead it is the perception of a society by few that is pushed on the rest of the country. You seem to be advocating more intervention. Am I right?
bweazel 2 years ago
Fake:
For the second time now, this is not a rant. It is a debate and discussion, look at the other 3-4 people taking place in it, join in and drop the ad hominem arguments (which usually show the person using them as an idiot that doesn't know anything about the topic at hand so instead of asking a question, they get flustered and try to insult rather than staying on topic, or dropping the pride and admitting you know less). You're too defensive and you're way off topic. Shoo.
bweazel 2 years ago
Peter,I agree with everything you say. The one thing we do not agree on is their intelligence. They are not dumb,this is being done on purpose. Why would anyone allow millions of illegals although everyone is against it? They want to weaken this country,bankrupt it then rebuild America as a new country...The bill of rights will no longer exist,Money and power by non U.S. interests are behind this and with control of the media and money supply .Votes do not count,it is over. Greed allowed it.
js1112111 2 years ago
Seems the USA, Europe are stuffed. If they can't pay the Chinese, China will be stuffed. China needs 7% GDP just to stave off civil unrest.. The USA will be paying China for the next 30 years. That is if the Chinese ever get their money back. I can see a future war. Some Country/s probably the USA will start a fire somewhere to distract the population from the financial termoil they will find themselves in. The future looks grim because of self centered pollies only looking to the next election.
norriealex 2 years ago
Does not sound too crazy.... we embargo japan to force Pearl Harbor... and before that, Wilson dragged US into WW1 for money reasons. I hope you are wrong but... you may not be.
engine2truck6 2 years ago
Hahaha. Sure, sure. I'd like to see the agreements between the central banks. I wouldn't be the least bit surprised, when netted, China is paying us more each month. You're spouting media talking points, and as history shows, they're nothing more than cheerleaders for the direction the money powers want to take us. Wake up. Turn off that tv.
But yes, I agree, WW III is on the horizon. But the sad part is, all those at the top agree with each other, and send us to fight it out.
bweazel 2 years ago
Yup. The more things change...
engine2truck6 2 years ago
The more they stay the same. Haha, well said ;)
bweazel 2 years ago
I have a question that has yet to be answered. I have my own guess as to its answer but I want to know what others think.
Q: Why would the American govt. borrow money from a foreign central bank like China's central bank that makes its currency from "thin air" when we already have our "own" central bank that makes money from "thin air"? Did the the federal reserve run out of "thin air" to convert to money? Why get foreign banks involved at all?
dlucas90 2 years ago
It FORCES the Chinese to devalue their currency to loan us the money rather than us just devaluing ourselves. If only the US devalued its currency, it could cause future capital/investment flight since any investment returns would lose purchasing power compared to other currencies (which is what Peter has recognized and has changed his investment strategy). But if our countries devalue also and loan us paper money, then investment flight can be postponed.
thomasst2 2 years ago
Ah, so what your saying is that central banks around the world will happily devalue their own currencies to keep the dollar / fed reserve, afloat
dlucas90 2 years ago
Yes. Since the dollar is the world reserve currency, most of the world spends it. If the just the dollar inflated, then present US exports will be cheaper, but returns on investment will be less and future produced goods will cost more. In the present, foreigners will buy and invest in the US. But in the future, prices will rise, US future goods become expensive and dollars foreigner hold become worth less. They then flee the dollar and US goods. The Fed doesn't want the future to happen.
thomasst2 2 years ago
You speak as though you actually know what's going to happen. If you do not understand commodity exchanges, please do not attempt to debate it.
bweazel 2 years ago
Since foreigners hold mostly dollars, then most of their reserves will also be worth less. To prevent their dollars (i.e., their ability to buy goods worldwide), from plummeting, they prop up the dollar to save themselves. Their own currencies, which would benefit, are not in high enough demand for world trade. So they sacrifice their own currencies to protect their ability to trade internationally. Also the US, via the military, won't allow them to escape the dollar.
thomasst2 2 years ago
You're only scratching the surface, but I guess you think CNBC is being honest with you?
I agree with you there, the military is used to protect profits, it's been like that since..... always? You know of a time this country has been ACTUALLY threatened? No? Nor do I.
bweazel 2 years ago
That is wrong. China is buying our bonds because they cannot afford to grow without help. Nothing the US does is devaluing the Yuan. The US would want nothing more than for the Yuan to strengthen, it would force our corporations to revalue the jobs they sent there, it would lower China's exports and make ours look a little more buyable, it would lower their GDP as they would then import more with their more valuable currency. You obviously have no idea what you're talking about.
bweazel 2 years ago
I respectfully disagree. I think your analysis follows a general equilibrium model, an unfortunate mistake made by most mainstream economists. It assumes that either prices can't change with supply and demand or that there is such a thing as a "just" price which must be kept. Anything can be sold at any price. Our current problem is that the Govt won't allow prices to fall to market clearing prices which reflects the level of savings in the economy, which is why the Great Depression persisted.
thomasst2 2 years ago 3
There is no such thing as supply and demand anymore. Open your eyes and look around. Supply comes first, than demand. Not the other way around like you were taught in school. You don't seem to understand. This is not a value based economy, it is a debt based one. There is no such thing as "savings" in a debt based system. Hording? Sure. Saving? No. The great depression persisted for many reasons. If people didn't get an ego boost from WW II, we might still be in that same depression.
bweazel 2 years ago
Supply comes about because entrepreneurs anticipate FUTURE demand, meaning businesses men have to contemplate what people will want in the future, produce in in time to meet that future demand and then try to sell it. For example, it takes 10 years to get an oil rig online, what sense does it make to start oil rig production if people want it now? The oil industry would have to anticipate future demand 10 years out to have the product ready when consumers demand it.
thomasst2 2 years ago
That's a nice and fancy way to say the person with the most money will make the best products. Or the candidate with the most money will win. Debt based, debt based, debt based. You're not letting that soak in. Oil is nonperishable, they can pump it out, and leave it in tankers or in pits as long as they need to. Products, not commodities, are forced on people. That's what I said. Do not bring oil (energy) into it, that's a whole different can of worms.
bweazel 2 years ago
Oops. I said goods, not products. My bad, I meant products though.
bweazel 2 years ago
We are now an economy of speculation, no longer one of careful and wise planning. This is why, people don't demand goods anymore, goods are forced upon the people. You could blame this on tv, easy credit, poor schools or many other reasons. This world is only becoming more and more controlled each day. Our economies do not work naturally, they are a huge balancing act, and the only way a perpetual debt based act can continue, is if all the players are playing together. Do you see?
bweazel 2 years ago
If a country saves a lot, it can withstand investment flight, such as Japan in the 1980's. It hurts, but it's not too bad. But if a country consumes a lot and has little savings, then it's a huge problem, such as the US right now. So if you have the world's reserve currency and the strongest military with bases all over the world and a navy that patrols everyone else's oil sea lanes, you can force the rest of the world to devalue and postpone the problem.
thomasst2 2 years ago
There is no such thing as savings anymore, it's just holding onto someone elses promise to pay longer than you normally would have. Savings is actually a bad thing for a debt based society. If we save more, there is less money in circulation for people to pay off their existing loans, thus forcing the fed to print more to stave off deflation. The US doesn't "force" anyone to do anything. The commodity exchanges are de facto controls instituted and used by the world's money powers.
bweazel 2 years ago
Savings reflects sustainable future ability to consume. If there are no savings, there is no future consumption, Debt is merely trading someone's present savings (e.g., a loan to purchase a home) for a future stream of savings (mortgage payments, as if someone would have saved up and bought the house in the future). Without savings, debt issue and repayment is impossible. Counterfeiting and artificial credit expansion only creates the illusion of saving, which is why we have booms and busts.
thomasst2 2 years ago
No it does not. Savings, like I said previously, will devalue your currency. If the promises to pay are being horded on a large scale, they are not there to pay off the previous promises to pay, which in turn forces the gov or fed to print more money to keep the currency stable, but as you know, it doesn't remain stable. In a debt based system saving (not spending) begets inflation, which decreases savings, but "saving" also gives the person a form of control. It's a double edged sword.
bweazel 2 years ago
A debt based currency is temporary, Why do you think casinos use chips? It is easier to bet/spend if you are not actually laying the dollars down. Dollars replaced gold and silver now computer credits replace dollars. Cash is a freedom and will no longer be tolerated. One can hide cash or gold from a government,once it is a credit/computer system you will no longer be able to hide anything or make any non government approved transaction.
js1112111 2 years ago
Don't confuse the gambling economy with the consumer economy, two different things, but both run completely on promises to pay, aka debt.
bweazel 2 years ago
Thanks for the advice.lol I am not compairing either,the example just shows the steps used to cause more spending and less saving. When someone swips a card they do the same, Would a person feel the same if they took $30,000 cash into a car dealership and counted it out before buying the car as compaired to signing 6 sheets of paper and no money out of pocket? This is enslavment and nothing more.
js1112111 2 years ago
Cash is still a promise to pay. Just because it's not your promise to pay, does not mean it wasn't someone elses promise to pay that was exchanged with you or your employer for the services you can provide. Every last little bit of "money" is a promise to pay. Bonds bought by the fed, which they in turn fund the govs accounts, which the gov owes back to the fed at interest. You cannot escape the cage they've built around you, but together, we all might be able to.
bweazel 2 years ago
I'm not sure I follow. Supply/demand for goods and services works inversely of supply/demand for money. If demand for goods is higher than money, then money will be exchanged more for those goods (spending), which shrinks supply of scarce resources and goods (consumption), which causes prices to rise. If demand for money is higher than goods, then money will be exchanged less for goods (saving), which leaves resources alone to accumulate which causes prices to fall.
thomasst2 2 years ago
Please, you cannot use the economics you were taught in college and high school to speak about our actual economy. If our economy was as easy as drawing some diagonal intersecting lines on a graph and saying this is how it works, we'd all be experts of economics and everyone would know exactly what is going on. I'm still trying to think of a correct name for economics that is taught in the west. It's not social behavior, it's social conditioning. HUGE difference.
bweazel 2 years ago
Also, let's see if this economics fallacy holds out when people demand money, and they demand goods. Which is what a perpetual debt system will give us someday, but if they get ALL the central banks on board, they could carry this on indefinately. Everything remains constant, another one of those bullshit lines you hear alot in value-based economics. The reality of the world though, is debt-based economics, and you're not taught that in school. They want to make followers, not challengers.
bweazel 2 years ago
Debt is not money. Debt represents a future good. Money represents a present good, What you say make sense, but it is a result of artificially low interest rates. Due to the price ceiling set below the market level on CREDIT, demand for CREDIT is higher because borrowing is cheaper but demand to save is lower because the yield is too low and requires more leverage for sizable returns. So dis-saving, increased consumption and increased investment occur at the same time due to price fixing.
thomasst2 2 years ago
Ok, thomas. I'm getting tired of repeating myself and reading you repeating yourself, so I'm going to back out of this one before it gets annoying. Last thing I'll say though. Debt is money, money is debt. You need to open your mind a bit more, because what you were taught in school is by no means how the economy actually works. What you were taught in school is how they want you to view the economy and how they want you to behave in it. Economics, as it's taught today, is social conditioning.
bweazel 2 years ago
You actually think banks have any savings?
We are and have been at a negative savings rate, in the US, for abou the last 10 years. Where have you been? We have booms and busts because we allow a small group of people, instead of the market, to control interest rates. They talk about it in plain view. "Waiting on the fed's decision", "Will the fed raise rates?", "The fed increasing rates means the party is over" Business will mimic the fed. Simple control, that's all it is.
bweazel 2 years ago
central banks + fiat currency = unelected central planners.
dlucas90 2 years ago
There is a difference between money (claim on present goods) and credit (claim on present goods which would have been bought in the future or current production for future goods).
There's also a difference between fractional reserve banking (fraudulent investment with people's saving which they didn't intend to invest; bad and inflationary) and genuine saving/genuine investment (separating warehouse banking and loan banking; good and not inflationary). You've confused some terms.
thomasst2 2 years ago
Thomas... no there is not. It's all owed to someone. ALL of it, regardless if you were the one to take out the loan or not. No, I don't believe I've confused any terms, you've confused reality and what you were taught in school. ;)
bweazel 2 years ago
I agree that is how our current system works, but it's massively unsustainable. Money production has to be back by goods production or acquired resources since one is exchangeable for the other. Money was and has to be a commodity produced (e.g., gold, silver, tobacco, etc.). Money arises as the most marketable good for indirect exchange in a barter system. But if money production is not backed by corresponding goods production or resource accumulation, then it leaves less to be exchanged for.
thomasst2 2 years ago
I'm with you there, that's the way it's supposed to work. That's the way we're taught it works, but that's not the way they work the system. What we're taught today is a justification for what seems like natural things, but in reality, are backdoor deals, insider trading and collusion at every level of our economy. They don't teach that in school, but that's the way the best businessmen work, dishonesty. Which you would expect to be taught in a social science dealing with money, alas, it is not.
bweazel 2 years ago
I would like to know this as well
simonnaylor 2 years ago
Maybe it's like juvenile delinquents: even though you can get mischievous alone, you always want company. I guess if we ever audit the FED, we will find out.
engine2truck6 2 years ago
I think your kinda right, only it may be worse. I think the FED reserve is the same central bank that the Chinese use, only it goes by a different name. In other words, I think the world's governments have already been usurped by the world's central banks but now they are just trying to legitimize it by saying we all owe money to another country when in reality the dollars could just as easily come from the fed reserve.
dlucas90 2 years ago
Well they have their own central bank, but I agree, the actual controllers are the investors of the member banks. So ya, the same people who invest in our banks and "own" our reserve bank could just as easy diversify themselves into all central banks. Couldn't agree with you more.
bweazel 2 years ago
Ugh. ...probably. Crappy, but prob correct.
engine2truck6 2 years ago
America doesn't borrow money persay, our congress makes a budget, and makes a bond offering, people buy the bonds, and they give us their currency at the exchange rate then, and we promise to pay them the full amount at a later date, with monthly, quarterly or yearly interest payments. You need to understand commercial law more, saying money comes out of "thin air" is partially true. Our promises to pay are what gives all currencies value. It's all about promises.
bweazel 2 years ago
Actually, I believe the money is created from "thin air" because the money is created from debt and is measured in units of debt that are not defined. In other words a debt based system is meaningless when measured in debt. Therefore, to promise to pay back a debt is meaningless when what is measuring the debt is constantly changing.
dlucas90 2 years ago
Let's not concentrate on the "money" though. That's what they want us to do, since it takes you away from the reality of the situation. Money, to us, means value. Except there is no such thing as real value anymore since it has been inflated away into nothing. The debt system should be measured in debt, not value. When we keep allowing debt to be measured in value, we devalue the value. Hahaha. Confusing, yes, but that's the way they designed it.
bweazel 2 years ago
That is an interesting way to look at it. If I were to measure in debt, what units can I use?
Another curiosity about the debt based money system is the fact that the only money or currency ever produced from this monetary system is the money to pay back the principle of the loan. The money to pay the interest of the loan is never created and is therefore not in the money supply. Every time money is created, more debt than dollars is the result. It's a mathematical "win" for the bank.
dlucas90 2 years ago
GDP growth percentage is what I would measure the bullshit in. You could measure it in gold, oh, wait, no futures control the price of gold, doh, that one's out. I guess the only way to measure bullshit, is to compare it to how much the bullshit has grown compared to last years bullshit. ;)
Ya. It's pretty win, win for them. They don't even have the money to loan you in the first place, it's a damn honor system. Haha. ;)
bweazel 2 years ago
Hahaha, and even measuring last years bullshit to this years bullshit is meaningless because the units measuring the bullshit change value year to year.
Loan out money that they don't have and then collect interest on it! We should all have a business plan that good. The only way small businesses can compete with the bank's monopoly friends would be to have a "money making" printing press in the basement of all small businesses. That way they can compete with the "big boys" on a level field
dlucas90 2 years ago
Well you and I can create money too. It's as simple as promising something and writing a contract for it. We just don't have a bunch of patsies to raise our collateral base for us while we sit on our asses and collect interest. What a sham we live in.
bweazel 2 years ago
@bweazel I believe that human nature is such that lazy, corrupt, fat, rich people will be eaten by the working poor, before the working poor will starve. Kick back and watch the show!
I also think that anyone stupid enough to want to "rule the world" is too stupid to be able to.
dlucas90 2 years ago
Hahaha. I'm with you there. It will certainly be an interesting show. Well said, well said.
However, I don't believe that is our nature. Are we corruptable? Sure. Were we born corrupted? I don't believe so. There is a force at work now and for about the last 40-50 years that has been corrupting this country and this world, one generation at a time. We all should be aware and teach our children accordingly.
bweazel 2 years ago
Exactly, our economy is meaningless and it is only a system of control, to keep you in the place you were born into.
bweazel 2 years ago
It's not that we're getting them involved, they see profit to be made from the US so they buy the bonds our congress offered. So really, all these people bitching and moaning about the US need to look no further than their own central reserve banks who have been helping fund whatever the american congress (american corporations) want to do. Personally, I think we're all interdependant on one another, they may be buying these bonds to stay afloat themselves.
bweazel 2 years ago
You've got that right!
Rustyshackleford08 2 years ago
The paper money is going to hell in a handbasket. So get gold and silver and hold on for the ride.
freedomfighterone 2 years ago
Most of you are not in agreement. Where did you even get that? You all would rather blame america than be honest. You all would rather point fingers at the american people of all people, like you're really any different from us. You're not. You're a debt slave also, you are also dependant on credit. You're countries laws in dealing with credit are almost exactly alike. Maybe I should ask you all, why exactly do you believe your economies will be better off than america's?
bweazel 2 years ago
No, it's a debate, for us both to exchange ideas, and possibly learn something from one another. Don't be such a child about it.
The way in which you all are talking about it. Like you're all going to be better off than us, like Canada isn't a fractional reserve practing country too. It's just anti-americanism. Glad you finally agreed the rest of the world is heading in the same direction. What bs am I talking about? It was all in my last post that you replied to, if you would have read it.
bweazel 2 years ago
Good points.
engine2truck6 2 years ago
Peter Schiff 2010
Ron Paul 2012!
thinkrevolution 2 years ago 2
Go Schiff!!!
Intervene 2 years ago 2
im focusing more in the next 5 to 10 years in a financial sense
Kingdom007Hearts 2 years ago
haha that idiot schiff and his stupid site got bombed again. .
trinomialtree 2 years ago
i hate that fucking guy in the red tie. He is so annoying
imaginator 2 years ago
I would like to see a little girl on girl between the red head on Fox and the Asian chick on CNBC. WOW that' ishot!
We are on the road to bankruptcy (default) here in America. Eh...it was fun while it latest
shadowkeeper1977 2 years ago 2
The asian from bloomberg is way better. Come on, brother. Standards, standards ;)
Anyways. We're all on the road to bankruptcy. Why you guys believe america is the only one going down for this, I'll never know. Oh that's right, schiff and the media have been telling you it's your fault for the better part of 2 years now.
bweazel 2 years ago
Damn that woman has a nice rack.
Damn the Reserve that claims to be Federal.
Screw fiat currency and wreck less, irresponsible, non-discretionary government spending.
Schiff for Senate, CT, 2010 or nothing at all.
rdubtheislander 2 years ago 2
Peter Schiff was Ron Pauls economic advisor, youtube wont allow me to post links but here are the titles
Ron Pauls book Gold,Peace,Posperity
Ron Paul gold standard debate
Peter Schiff at end the fed rally
europa 2 years ago
I blame the "free market" republicans, Ronald Reagan's voodoo economics, and GWB for all of this mess.
uclaztec2 2 years ago
@uclaztec2 There is only one free market republican. That's the problem.
vipero00 2 years ago
Unfortunately, most people (including politicians) choose to ignore, or flat out don't understand what is going to happen in this country. When the system collapses, people will be forced to deal with reality.
flightlevel66 2 years ago
Peter Schiff for senate 2010!
yushaos 2 years ago 2
Its is also pretty obvious to anyone with half a brain that they(Ron/Rand/Schiff) are right and w/o them and more like them we are royally screwed (no pun intended ;) )
smokinranger8 2 years ago
fakeplasticme:
I have heard Schiff say the fed did a poor job, but no where have I seen schiff campaign to abolish the fed, no where have I seen him say he'd rather go without a fed, no where have I seen him say he'd like a gold standard (which I don't think would be a good idea, but it's one of Paul's things). This is a huge difference between the two, so really I'm sure Schiff and Paul would not be friends on the hill. I also don't see schiff make a fuss about the constitution.
bweazel 2 years ago
I couldn't agree more, except the first cut should be Defense spending to 1/3 of current levels.
hot4bear 2 years ago
@hot4bear right on!
peter schiff rockss.
gutrp 2 years ago
@fakeplasticme siad: " ..the collapse will be worldwide, not just in the U.S.. However...the collapse here will be bad...and by bad I mean...get out of debt now, and stock up on the essentials (that includes guns) "
Bingo!. can see why 2012 is important,we're about to relive an old cycle, this time it's effects will reach more like no other collapse has reached..this one will be "world-wide"
Food and powerless water purifiers
Do it today!..or visit my channel and link up there to 2012 sites.
connectingdots1 2 years ago
He can do both, its more relevant if he votes his principles rather than speaking them. He can be effective doing both.
europa 2 years ago
@fakeplasticme Well said my friend, it's inevitable but necessary. It's so obvious. Humans are about to get a reality check.
vociti 2 years ago
well said. you might also like Bob Chapman and Max Keiser. also, Robert Kiyosaki. in case you haven't heard of them.
jacknapier26 2 years ago
Do not mold the two together. Paul and Schiff's reasoning (though they do share some similarities) are completely different. Schiff hardly ever talks negatively about the fed, he supports buying gold as a hedge, he's running for the senate (who are corrupt as all hell), Schiff speaks of china as being our creditor. I've never heard Paul support any of these things. So really, I don't see where you get that there messages are the same.
bweazel 2 years ago
I disagree there as well, though they are two different individuals with their own opinion and thought process, they come from the same school of thought, Austrian economics.
They both utilized the teachings of Ludwig von Mises, Frederich von Hayek, and Murray Rothbard. the Laissez-faire approach.
A strict interpretation of the constitution, Ron Paul probably more so.
europa 2 years ago
Austrian economics is also well known as, reality. So their both realists, doesn't mean they both aren't differing about what actually caused the "crisis" and what to do after. Schiff is telling people to buy gold. Please find me a clip of Paul saying the same. Oh please. Spare me the economic fancy words. Leave it be, again, also known as reality. If someones not leaving it be, someones manipulating. This is where schiff and paul diverge extremely from each other. Paul blames the fed. Schiff?
bweazel 2 years ago
If Paul and Schiff weren't on the same page why would he hire him to be his economic advisor during the campaign?
Did you see Paul hiring Paul Krugman? Think not.
Eric21ND 2 years ago 2
4:35. I liked him better when he wasn't running for the senate. He would have had the balls to answer a question like that, now he answers just like the rest of the politicians. "Who knows?" It should be obvious to now that Schiff has no foresight past this "recession". Gold? That's it? I'm really tired of people downing on the US like the rest of the world isn't just as guilty as us on this stuff. They all practice fractional reserve banking, they all use credit cards, they all so on so on
bweazel 2 years ago
He has stated many times how it will unfold but their is too many scenarios that can occur to go through it on a Fox news segment meant to discredit Schiff.
it will be a dollar crisis, More home foreclosures, corporate real estate crash, de- coupling, more war.
Owning physical gold is insurance. He also recommends diverse commodities foreign stocks. He knows transfer of wealth, so as situations change so does the transfer, that's why you can't peg one strategy as a sure bet.
europa 2 years ago
It will be a currency crisis, and all nations of the world will follow. We have technology to thank for this. We have the ease of investing in any market in the world as easy a mouse click away, and so does everyone else. The west will fall as a whole, don't kid yourself and act like the US alone will go down for this.
Owning gold will do you little to no good in my opinion, no one will accept that or even knows how to accept it as payment. Do you think you'll be able to buy a new currency?
bweazel 2 years ago
Of course it will be a global reaction and other nations living in/off the bubble will be affected but those with productive economies and decent saving rate will rebound faster and thrive as a society.These Nations, and soon others will go back to supporting them selves. Australia alone hasn't seem to be affected by the recession, China has billions of people to buy their products(not barring that the China's leaders have been puppets of the US in many ways, decoupling will happen, just timing)
europa 2 years ago
And who in this world do you know that has decent savings rates? Haha. We're all in debt man. That's what I'm trying to get you to admit here, EVERYONE in this ordeal is screwed. All of our currencies are controlled by a group of international bankers. I just find it funny you think the US is going to take the blunt of all this. We're all puppets, my man. We're all slaves to credit. No one government is doing a better job at handling their bankruptcy than ours is. We're all way above our means.
bweazel 2 years ago
no kidding my man, what other country can you find that claims 70% of their GDP is consumer spending. Were a broke country living the rich life but not for long. Of course our figures next year for GDP will look healthy with all the debt money being pumped into the economy
douglassx86 2 years ago
Same bs you hear schiff spouting. This is an erroneous and unfair analysis of the situation, you and schiff are acting like the american people and there endless greed (not congress and the fed) brought us to this mess. We are the world reserve currency, we are the commodity exchangers, we are not nanny states like europe who's GDP is probably "70%" government spending. All figures for GDP are pure lies in a debt based system. If you don't even understand that, take your hat out of the ring
bweazel 2 years ago
People are really desperate for a change, and it sure isn't coming from Obama.
Adahondeayenh 2 years ago
Liz is loving Peter and i love Liz.
But she has been for a while now. If only i had a crystal ball!
NicosMind 2 years ago