If the government is admitting to 9.5 % unemployment---it is probably 15%. Election 2014 means we will have to dig ourselves out of tons of happy horseshit govt. numbers that will be spreading our way. Anyone with a pulse knows it is getting much worse out here. Dont believe a word from the White House or it's mouthpieces.......
Hey Peter, I heard you bet Steve Liesman $10000 on whether or not there will be QE 3 , I think you should add a15% annual inflation yield to that :) he's going to pay you in inflated dollars lol. Well maybe not, after all art laffer still owes you your penny
@SchiffReport any curiosity on your part about why JP Morgan would accept Gold bullion as "cash" and not any gold ETF's, even ones they are custodian for the backing gold? Makes an investor wonder. It's like a private bank issuing its own currency in gold and then saying "well that money's no good here, real gold please"
I would have to mention that as China has become wealthier, it's citizens have been consuming more, and producing more. So since there is a greater demand for commodities the prices will go up. I am not suggesting that the FED is not causeing some of the increasing prices, but more is comming from India and China from their increased demand for commodities, and goods.
there are several reasons why prices go up. One is inflation, for sure. But the main reason prices go up is demand for that product, or the commodities used to make a product. As china makes more and more stuff they demand more and more commodities like oil, and corn, and cotton, because the demand has increased the price goes up. So it is China and India's fault for the prices going up, but its kinda normal. this basic is supply and demand. IMO China is undervalueing its currency.
@rkhoja Rubbish. Inflation IS the main cause of rising prices we've seen for the last eight years. They have fluctuated, but that's because inflation has fluctuated. Demand can only cause prices to rise, if there are shortages for what's demanded. That's rare. Gasoline can still be bought at practically every corner, but prices have gone up for it since 2003. They've fallen and gone back up. It's consistent with the dramatic spending, some permanent, some temporary, under both Bush and Obama.
You Can DO Whatever You Want The End Result Will Be The Same!!!You Just Can Have An Growing Economy Forever Sooner Or Later It All Collapses Anyway.But That Is Just What I Think....
"Disgruntled" my butt! If you aren't currently on unemployment benefits no one will hire you because they want all teh tax benefits of hiring someone currently recieving benefits. Which means you not only are out of work for some time, you have no benefits, and no one wants to hire you, and then they'll remind you that because you have been unemployed so long, they think you aren't worth hiring. I otherwise agree with Schiff, but the jobs are not there for the forgotten unemployed.
Don't you think this is what Ben wants, QE is forcing China to float their Yuan, thus making Chinese products cost more in the US(alot more right if they dump their dollar loads).. And with Chinese products on equal cost basis, won't that bring jobs back to the US? If they don't float it soon, they will end up like Egypt with 'democracy' leading the way.
Hi Peter, I've been watching, reading and listening to you for some time now. I agree with most of your viewpoints, but I would like to hear your perception of unemployment considering another factor that I believe is continually excluded: semi-annual 4-year degree graduates. Arts or Science distinctions aside, I know you touch on tuition inflation... how do you figure all these new graduates coming into the economy... (continued)
@d1drummason can be thrown into the category of those underemployed/unemployed? Quite frankly this number seems to be growing at a much larger rate than unemployment+economic growth+ current balance reduction COMBINED... yes factoring these rates into the equation creates an even worse situation than you predict, As you say new jobs are focused in low-intelectual jobs. To me, this is more important: the willingness of the elder generation to subsidize the younger generation indefinitely.
@FXNorm they show higher earnings because of inflation and the devaluing of the dollar - You also have less companies in the USA so the ones that are left of course show greater income and profit ....... they have less competition ......... duh?
I think we should see something from a 600 billion injection , unemployment from 9.4 to 9....eh not bad. The truth will come out in August to see if a QE3 will be needed to keep things going...The US might be able to pull it off > Avoid a depression < Then again its always calm before the storm. ! If they have to use a QE3 then we will have more inflation....But mortage rates are still low and thats a problem alot of people are still waiting to buy. Just have to ride it out and see.
Everybody has been predicting the collapse of the dollar since 2007. It has not happened yet, has it? It May be that the fundamentals are others. We in the USA are the only bastion left of free enterprise. However, you have to bet long on the USA.
Obviously we are in a mess that will persist for quite a while. If China stops lending us money and keeping their currency artificially low, we will quit buying their products. Consequently, they economy will collapse, since we are China’s largest trade partner. With a population approaching 1.4 b and a political system based on a spider web.
That doesn't make too much sense - their economy might have a setback soon thanks to all the inflation imported by the currency peg and from holding bonds that might be worthless by the time mature. However they will still be producing a lot and they might aswell start consuming it themselves instead of shipping it to the US.
WARNING! Do not listen to Peter's investment advice. He makes almost all of his money from commission of 3% from his brokerage company. He has a mediocre investment track record. He is a good economist though.
Well I think by listenening to his advice most people will still be better off than by listetning to any of the other clowns on TV. 3% commission is a lot though (if it's from the market price).
For thoise new to Peter Schiff, I recommend that you listen very carefully to this man. He has nailed it when it comes to the real fundamentals of the economy. For thos ripping him in 2008, what are you saying now?
America is like a drug addict, only the drug is debt. Somehow its telling its people everything is going to be fine, but all the time sinking into more and more debt. Denial is ultimately the road to ruin. For Pity's sake wake up before the Chinese pushers give you the ultimate OVERDOSE.
Cities are about to go bankrupt and the FED said they won't bail them out
that means they won't meet their pension obligations and service will be cut
so sell the police & the courts to private corporate interests, ya know the only people who create jobs
think of the thing you love the most in your city sold to the highest bidder - then when you call to get the information you need you'll be connected to India
I am ready for heads to roll. The bankers should fear us. We shouldn't fear them. Since the Fed was created our currency has lost 98% of its value....most of that is due to being removed from the modified gold standard on 8/15/71. It is scary that they have stolen the value of our future earnings.
@bkdmd I'm with you 100%. I think one of the biggest problems is they are under the illusion that they are the royalty and we are the peasants and we should have no say in any matters. They vote themselves pay raises while denying COLA for SS recipients. They have their own health care system, if Obamacare is so great, why do they need something different? They're legends, in their own minds.
@marniespeaks I agree. I think the biggest problem we face is that the voters of this country (90%?) vote for whoever will give them a handout. They could care less about any issues, it's just who will give me the most?
well yeah - I don't know why Peter doesn't make this the center of his argument
you can't change a damn thing until you arrest the crooks on Wall Street and cut off their power in DC
everything else he says means nothing without the Rule of Law and a fair market
he's a pretty smart guy when it came to how we got here, but he seldom calls justice, hardly ever. That conclusion leads me to think he making a killing so he's in iit for the money. - short on morals
@marniespeaks Nobody own's me. Get a clue, your Freedom and Liberty are up to you, not someone else. Had you read the Constitution, and understood it, you would understand that the system was not set up the way it is today. The current situation was perpetrated by the very Leftist Progressive iseal's that I can pretty much say that you support with utmost certainty.
grow up! no man's an island - if you choose to participate in this system you are a slave to it and I know you are a slave because you are using the tax payer internet and I know you use federal reserve dollars.
you are living in a fantasy world if you think differently. you have no freedom it was taken away from you long about by BOTH parties and finally you suffering from penis envy I can tell by the labels you use which makes your chains even stronger and large top yourself now
Laughable. Only 36,000 jobs created and unemployment goes down from 9.4% to 9.0%. Does the Government think we are this stupid...yes. We are all on the USS Titanic and we hit the iceberg (2008). The ship is sinking. The Federal Reserve as "Federal" as Federal Express will continue to print the "Owe"bama bucks to patch up the gaping hole. The band keeps playing and most think we avoided disaster. Mr. Schiff and Ron Paul keep yelling for people to get to the lifeboats. Most won't listen. I fled.
@nico3641 The "Federal Reserve" is not a branch of the government. It is a private entity that is owned by wealthy bankers, aka the puppet masters. All the world is a stage and governments are made up of marionettes.
Are PMs a good idea for someone who is retired 60 and has enough to live comfortably but can't tolerate risk? Why did gold go up so much before 2008? Who was "speculating" in it then? It's a BIG question and keeps me and other people (some of them quite savvy) from plunging into it. If gold was at 500 in 2008 I'd consider it - but it was way over that already. Hmmmm. Also.....what if the government decides to "fix" the problem...sorta like in the 80's? Look what happened to gold then.
If an unemployed person hasn't interacted with the unemployment office for a period of time, they completely drop off the charts for the unemployment figures - both U3 and U6. I think they move off of U3 when they don't file their search reports for a couple weeks (in AZ they have to file weekly)
If an unemployed person hasn't interacted with the unemployment office for a period of them, they completely drop off the charts for the unemployment figures - both U3 and U6. I think they move off of U3 when they don't file their search reports for a couple weeks (in AZ they have to file weekly)
@ammosmith Most Americans are too busy feeding their faces, watching Sports/MTV/American Idol, or too busy in the rat-race known as the American Nightmare to realize what is going on. Before I fled from the USSA I had to explain to a coworker that not everything that is sold at Walmart + Target is made in America because it is sold in America. She thought all the products were made here and was arguing with me about it. Of course she had a 4-year college degree and over $100,000 in college debt.
Someone asked in class today if the FED books have become saturated with toxic assets due to easing, then isn't the FED a toxic asset? Nobody knew how to answer that, apolitically that is...I have to hand it to Bernanke however, he is using the perfect vehicle to infect the rest of the world with our inflation...the durable goods cycle..I agree the 10yr is firming up into a nice 3-4-5 triangle. One triangle isn't a trend, but still, a possible shot across the bow...thanks for the video Peter!
@aprilrosed He knows; somehow he has a bad compression software, or poor computer, he is having problem uploading longer videos. he said that one time before
You know what is a mystery to me? How people even as smart as Peter can say that the people being arbitrarily dropped from the unemployment number are no longer looking for work. If anything, now that they have no income, they'd be looking for work with more urgency than before. It's not like you suddenly stop needing money the day your benefits run out.
@GaryVolts Truly spoken like someone who has never been unemployed for any extended time. Maybe you'd think differently after sending out hundreds of resumes/applications over the course of more than a year and being able to count the replies you received on four fingers
@geheg3d Hey I empathise with your plight. There are some jobs that are never coming back, or you may have to move to go to the where the work you do is available, or start doing something different than you did before.
But I don't understand your beef. Are you saying that you have run out of benefits and you are in fact not looking for work? So that it's correct to not count you as an unemployed person?
@GaryVolts I think he means they're no longer "officially" working for work, as far as the government is concerned. I don't think he means they're actually not looking for a source of income.
@ivanleo I'm tierd of people parroting the terminology of the BLS (e.g. "discouraged", "no longer looking") instead of highlighting how absurd this statistic they call the unemployment rate is.
Free Office Space with help from the Small Business Administration. Only one tiny catch, your small business must have a 17-1 profit margin. I cannot say what is "reasonable" profit but I can say that expecting another person to do 17 things for every one thing you do is unreasonable.
Will you take out the garbage for me?
Yes I will; will you run 17 errands for me so that I am reasonably rewarded?
Inquired about renting a store front last year. The owner wants $3,500 a month. Anyone who rents that location cannot sell coffee because the owner of the building has an agreement with Tim Hortons who leases space down the street from the owner. Free Markets at work. 1 year later and the building is still not rented. The owner makes more money by evading taxes. It's a tax shelter. Tim Hortons is popular because they create contracts which violate free markets and free enterprise.
In a descending spiral of prosperity and world power, a manipulating authoritarian government might be easily welcomed, in the hope that such a government would somehow soften the unpleasant results caused by a lessening of prosperity and world power. – Francis A. Schaeffer – The Rise and Decline of Western Thought and Culture, 1976
I think Peter is true capitalist, a patriot, and a believer in freedom and democracy. The difference between him and the crony/phony/corporatist capitalists is that he knows he could keep quiet and keep getting richer. Its easy, buy gold / silver / stock in free market economies, then wait while its value in dollars goes through the roof and makes you rich. But he doesn't, he is trying to help the country and his fellow americans.
Yes, Peter I sure like what you have to say, keep it up! I see, Paulson is to blame in my eyes for the lies that he told of imminent falure of the banks, it was a slick robbery and no one has the balls to speakup and hold hein or more likly them, to the stone for what they have done to America in their self preservations move for personal gains.. It would have been better letting the Banks fail, and start over with clean sheets...Falure, Its going to happen anyway.
The answer on the employment numbers is simply - as with all government numbers - they are totally bogus. They can do whatever the frick they want - it's a convenient black box. Lying criminals - all of them!
Bernanke and his Gang are fucking criminals and enemies of The People! They need to be executed as traitors to this nation. Off with their fucking heads--for the sake of a civil U.S. and a civil world. We all know where this is going to end; let's get it done before too many innocent People are murdered by the criminal policies of the U.S. Government Mafia.
Everyone. Add Peter Schiff's video's to your favorites. Tell your friends. Get him more views! Let's go people. Underdog again. Hope he runs again and wins it this time!
@shippem - i'm Canadian and I spread Peter's word around! i sent an email to all Canadian parties that they have to listen to Peter Schiff and when they start talking like him, they get my vote!! if I were retired, i would want to come and be a campaign worker WHEN he runs again!!
HAHAH i heard WEED too, and he aint lying! When stoners can no longer afford their weed, their indifferent lethargic attitude is gone too! STONERS REVOLT! END THE FED!
please explain to me what a free market fascist is... sounds like a contradiction in terms. The free market means purely voluntary free trade at all levels.... and free money, is this factored into your 'free market fascist' idea?
it's time for you to announce your Senate approach, you can win this Sir and I believe you have the skills to go to Washington and teach Keynesian's to become Austrians!
It's always a pleasure to watch your video blogs Peter!
Peter Whats the difference between "Discouraged worker" and a "worker that leaves the labor force" I think they are both discouraged, therefore, the real unemployment rate is probably a lot higher then 16%, because U6 Doesn't include people that "left the labor force", it only adds in discouraged workers and part time for econ reasons
i guarantee you he understands everything that you pointed out, thing is if he gave notice to it all of this people would go into panic all around the world and all the poo would hit the fan in a short amount of time. he wants to keep it going for as long as he can. good thinking on his part to cover his butt, bad for the world who gets screwed over in the long run
Well Schiff, we finally audited the fed and looky what Rolling Stone found. How is this not racketeering?
omegapointil 10 months ago
5:55 Weed?
humanvegetable 11 months ago
@humanvegetable LOL!!
assgrabberb 10 months ago
@assgrabberb Dude! He totally said Weed!
humanvegetable 10 months ago
@humanvegetable I know I heard it too!! It's awesome!! But my weed prices aren't going up.....
assgrabberb 10 months ago
Very inspiring channel you have.. Lots of success with it.. check back mine too.. :)
anxietyawaynow 1 year ago
Amazing videos, keep them coming
TouchingPerformances 1 year ago
why would some one buy treasuries of 3% for 10 years?
or 5.8% for a fourty year?!?!
the food inflation in its self is 10-20% at the moment.
go out and buy a bag of rice best dividendum on the planet
lookingforthemeaning 1 year ago
@lookingforthemeaning At first I chuckled. Then I realised it's true.
Toilet paper people. Biggest commodity out there.
FUZZYisBIG 1 year ago
@FUZZYisBIG
yepi though that to but seeing as u cant eat it .people will swap it for a carrot when they are hungry.
but i do have a good supply ;-)
lookingforthemeaning 1 year ago
@FUZZYisBIG did u mean the 4ply toilet paper or the one ply with the presidents face on it:-/?
lookingforthemeaning 1 year ago
If the government is admitting to 9.5 % unemployment---it is probably 15%. Election 2014 means we will have to dig ourselves out of tons of happy horseshit govt. numbers that will be spreading our way. Anyone with a pulse knows it is getting much worse out here. Dont believe a word from the White House or it's mouthpieces.......
matt75hooper 1 year ago
The world is in a downward spiral. Boomer worldwide have entered into a phase of life that spends less. The youth are almost all unemployed.
biospharms 1 year ago
Fort knox is empty?
Cazador42265 1 year ago
Hey Peter, I heard you bet Steve Liesman $10000 on whether or not there will be QE 3 , I think you should add a15% annual inflation yield to that :) he's going to pay you in inflated dollars lol. Well maybe not, after all art laffer still owes you your penny
longtrader782 1 year ago
Comment removed
longtrader782 1 year ago
I went to the store today and found the prices were higher than the last time I went already!
jmelkis 1 year ago
@SchiffReport any curiosity on your part about why JP Morgan would accept Gold bullion as "cash" and not any gold ETF's, even ones they are custodian for the backing gold? Makes an investor wonder. It's like a private bank issuing its own currency in gold and then saying "well that money's no good here, real gold please"
??
ytgv3fc7 1 year ago
I would have to mention that as China has become wealthier, it's citizens have been consuming more, and producing more. So since there is a greater demand for commodities the prices will go up. I am not suggesting that the FED is not causeing some of the increasing prices, but more is comming from India and China from their increased demand for commodities, and goods.
rkhoja 1 year ago
@rkhoja Why is it that China and India get blamed for everything, including higher oil prices?
jmelkis 1 year ago
@jmelkis
there are several reasons why prices go up. One is inflation, for sure. But the main reason prices go up is demand for that product, or the commodities used to make a product. As china makes more and more stuff they demand more and more commodities like oil, and corn, and cotton, because the demand has increased the price goes up. So it is China and India's fault for the prices going up, but its kinda normal. this basic is supply and demand. IMO China is undervalueing its currency.
rkhoja 1 year ago
@rkhoja Rubbish. Inflation IS the main cause of rising prices we've seen for the last eight years. They have fluctuated, but that's because inflation has fluctuated. Demand can only cause prices to rise, if there are shortages for what's demanded. That's rare. Gasoline can still be bought at practically every corner, but prices have gone up for it since 2003. They've fallen and gone back up. It's consistent with the dramatic spending, some permanent, some temporary, under both Bush and Obama.
rickv404 1 year ago
Stop Badmouthing Comic Books. There's far more wisdom in them, then in a Keynsian Textbook.
tracysaboe 1 year ago 3
You Can DO Whatever You Want The End Result Will Be The Same!!!You Just Can Have An Growing Economy Forever Sooner Or Later It All Collapses Anyway.But That Is Just What I Think....
novoiceless 1 year ago
"Disgruntled" my butt! If you aren't currently on unemployment benefits no one will hire you because they want all teh tax benefits of hiring someone currently recieving benefits. Which means you not only are out of work for some time, you have no benefits, and no one wants to hire you, and then they'll remind you that because you have been unemployed so long, they think you aren't worth hiring. I otherwise agree with Schiff, but the jobs are not there for the forgotten unemployed.
LinnTractorNut 1 year ago
Bernanke and Greenspan should be charged with something radical like "Global Theft"....END THE FED....RON PAUL FOR PRESIDENT 2012
petiemac24 1 year ago
"The Chinese" have just as much control over their money supply as "The Americans" Which is absolutely none. It's all a big facade.
gradiu3rox 1 year ago
Don't you think this is what Ben wants, QE is forcing China to float their Yuan, thus making Chinese products cost more in the US(alot more right if they dump their dollar loads).. And with Chinese products on equal cost basis, won't that bring jobs back to the US? If they don't float it soon, they will end up like Egypt with 'democracy' leading the way.
FELUNKADUNK 1 year ago
everything comming from gov. is a lie.
streeser1 1 year ago 9
Hi Peter, I've been watching, reading and listening to you for some time now. I agree with most of your viewpoints, but I would like to hear your perception of unemployment considering another factor that I believe is continually excluded: semi-annual 4-year degree graduates. Arts or Science distinctions aside, I know you touch on tuition inflation... how do you figure all these new graduates coming into the economy... (continued)
d1drummason 1 year ago
@d1drummason can be thrown into the category of those underemployed/unemployed? Quite frankly this number seems to be growing at a much larger rate than unemployment+economic growth+ current balance reduction COMBINED... yes factoring these rates into the equation creates an even worse situation than you predict, As you say new jobs are focused in low-intelectual jobs. To me, this is more important: the willingness of the elder generation to subsidize the younger generation indefinitely.
d1drummason 1 year ago
wait, didn't peter say unemployment would remain the same or go up? -.4 % is pretty significant.
MinmatarThrasher 1 year ago
Pete, great as always, but you know what? the world won't stop turning...
manoman0 1 year ago
another great video
a4finger 1 year ago
Thanks, ponder. How could I have missed that???? I have watched every PS video under the sun...
aprilrosed 1 year ago
This has been flagged as spam show
peter schiff is the messiah. I have known this all along.
fubar28 1 year ago
@FXNorm they show higher earnings because of inflation and the devaluing of the dollar - You also have less companies in the USA so the ones that are left of course show greater income and profit ....... they have less competition ......... duh?
xtop23 1 year ago
Bernanke is a thief and a liar - The Fed knows exactly what its doing and its going to screw us all out of our wealth -
xtop23 1 year ago
36,000 jobs!
We are screwed!
bkdmd 1 year ago
@bkdmd if you do the math 36,000 jobs in 50 states is only 720 jobs per state which isn't shit.
KevinDareDaly 1 year ago
Stock prices rise because of higher earnings ..lots of companies are reporting higher earnings.
FXNorm 1 year ago
I think we should see something from a 600 billion injection , unemployment from 9.4 to 9....eh not bad. The truth will come out in August to see if a QE3 will be needed to keep things going...The US might be able to pull it off > Avoid a depression < Then again its always calm before the storm. ! If they have to use a QE3 then we will have more inflation....But mortage rates are still low and thats a problem alot of people are still waiting to buy. Just have to ride it out and see.
ibelucky1 1 year ago
How come Peters eyes are so red?
motto775 1 year ago
@motto775 cock slapped
delatroy 1 year ago
@motto775 price of weed went up but we still need our ganja
hotamali 1 year ago
PETER, those paper printed is staying in the States faster and faster. FED just passed China as the biggest holder of US treasuries.
lustdog 1 year ago
Paper is not money. END THE FED.
iannetta11 1 year ago
Everybody has been predicting the collapse of the dollar since 2007. It has not happened yet, has it? It May be that the fundamentals are others. We in the USA are the only bastion left of free enterprise. However, you have to bet long on the USA.
GABRIEL1949 1 year ago
Buying currecy is as a good investment as playing a slot machine.
GABRIEL1949 1 year ago
Obviously we are in a mess that will persist for quite a while. If China stops lending us money and keeping their currency artificially low, we will quit buying their products. Consequently, they economy will collapse, since we are China’s largest trade partner. With a population approaching 1.4 b and a political system based on a spider web.
GABRIEL1949 1 year ago
@GABRIEL1949 So is it a good idea to buy China Currency now while its cheap.
acts131 1 year ago
@GABRIEL1949
That doesn't make too much sense - their economy might have a setback soon thanks to all the inflation imported by the currency peg and from holding bonds that might be worthless by the time mature. However they will still be producing a lot and they might aswell start consuming it themselves instead of shipping it to the US.
MushroomCloud666 1 year ago
WARNING! Do not listen to Peter's investment advice. He makes almost all of his money from commission of 3% from his brokerage company. He has a mediocre investment track record. He is a good economist though.
bogardan666 1 year ago
This has been flagged as spam show
@bogardan666
Well I think by listenening to his advice most people will still be better off than by listetning to any of the other clowns on TV. 3% commission is a lot though (if it's from the market price).
MushroomCloud666 1 year ago
Everyone buy silver...now! Get pre 65 coin, silver rounds, bars whatever you can.
silverexplosion 1 year ago
Peter, What are your concerns about the debt ceiling being reached in the next month or so? I would love to hear your take on this.
Peace, Wayne
Whiteweddingsinger 1 year ago
is anyone else getting a bug at about 4:54 when he starts talking about ben bernanke........weird huh
bostonchris5 1 year ago 32
@bostonchris5 yup...me too!
younitehumanity 1 year ago
@bostonchris5
Yeah, same here... :-(
bokkenrijder172 1 year ago
@bostonchris5 When I talk about Ben Bernanke(Barnacle) I tend to get a bug as well.
pryorka82 1 year ago
@bostonchris5 -- I saw it, too. It's M-M-Max Headroom time! Great message, though, Peter!
CrazyEddie99 1 year ago
@bostonchris5 LOL big brother is watching! hahahaha
lilbromarky1 1 year ago
@bostonchris5 ya i get it also
stetsonator 1 year ago
@bostonchris5
Seems like BB has put a virus in it
racenemo 1 year ago
perhaps the unemployment rate has gone down in this case due to an increase in part time jobs out there as employers hedge their investments.
flowthrupranayama 1 year ago
For thoise new to Peter Schiff, I recommend that you listen very carefully to this man. He has nailed it when it comes to the real fundamentals of the economy. For thos ripping him in 2008, what are you saying now?
nomoreserfs 1 year ago
America is like a drug addict, only the drug is debt. Somehow its telling its people everything is going to be fine, but all the time sinking into more and more debt. Denial is ultimately the road to ruin. For Pity's sake wake up before the Chinese pushers give you the ultimate OVERDOSE.
norriealex 1 year ago 2
January unemployment figures:
Small country (Canada) creates 69,200 jobs and unemployment rate goes UP (7.8% from 7.6%)
Big country (USA) creates 36,000 jobs and unemployment goes DOWN (9.0% from 9.4%)
Which country is producing the propaganda?
Ayess2008 1 year ago 4
Good Info as usual Peter.
mja2035 1 year ago
Buy gold.
Also apparently buy WEED.
It make sense BTW.
romanmir01 1 year ago 2
So I guess I'll keep stacking precious metals. : )
beerandgolf68 1 year ago
Cities are about to go bankrupt and the FED said they won't bail them out
that means they won't meet their pension obligations and service will be cut
so sell the police & the courts to private corporate interests, ya know the only people who create jobs
think of the thing you love the most in your city sold to the highest bidder - then when you call to get the information you need you'll be connected to India
USA USA USA
marniespeaks 1 year ago
@marniespeaks I'll be surprised if the gov doesn't bail them out. They gov loves to give money away.
tigerpurpleheart 1 year ago
@tigerpurpleheart
the Ben Bernank said no
marniespeaks 1 year ago
@marniespeaks I don't trust the ben bernank. He's also the guy that told congress he would not tell them where the 2 trillion dollars went.
tigerpurpleheart 1 year ago
@tigerpurpleheart
I am ready for heads to roll. The bankers should fear us. We shouldn't fear them. Since the Fed was created our currency has lost 98% of its value....most of that is due to being removed from the modified gold standard on 8/15/71. It is scary that they have stolen the value of our future earnings.
bkdmd 1 year ago
@bkdmd I'm with you 100%. I think one of the biggest problems is they are under the illusion that they are the royalty and we are the peasants and we should have no say in any matters. They vote themselves pay raises while denying COLA for SS recipients. They have their own health care system, if Obamacare is so great, why do they need something different? They're legends, in their own minds.
tigerpurpleheart 1 year ago
@tigerpurpleheart you shouldn't trust him, you should arrest him and his ilk
marniespeaks 1 year ago
@marniespeaks I agree. I think the biggest problem we face is that the voters of this country (90%?) vote for whoever will give them a handout. They could care less about any issues, it's just who will give me the most?
tigerpurpleheart 1 year ago
@tigerpurpleheart
legally secede
marniespeaks 1 year ago
@tigerpurpleheart
well yeah - I don't know why Peter doesn't make this the center of his argument
you can't change a damn thing until you arrest the crooks on Wall Street and cut off their power in DC
everything else he says means nothing without the Rule of Law and a fair market
he's a pretty smart guy when it came to how we got here, but he seldom calls justice, hardly ever. That conclusion leads me to think he making a killing so he's in iit for the money. - short on morals
marniespeaks 1 year ago
destroy the wealthy
marniespeaks 1 year ago
@marniespeaks yeah, that's a brilliant idea. Destroy the job creator.
Joe11Blue 1 year ago
@Joe11Blue
you mean the people who own you?
marniespeaks 1 year ago
@marniespeaks Nobody own's me. Get a clue, your Freedom and Liberty are up to you, not someone else. Had you read the Constitution, and understood it, you would understand that the system was not set up the way it is today. The current situation was perpetrated by the very Leftist Progressive iseal's that I can pretty much say that you support with utmost certainty.
Your own action's in life define you.
Joe11Blue 1 year ago
@Joe11Blue
grow up! no man's an island - if you choose to participate in this system you are a slave to it and I know you are a slave because you are using the tax payer internet and I know you use federal reserve dollars.
you are living in a fantasy world if you think differently. you have no freedom it was taken away from you long about by BOTH parties and finally you suffering from penis envy I can tell by the labels you use which makes your chains even stronger and large top yourself now
marniespeaks 1 year ago
@marniespeaks I need to grow up, and yet you are the one going off on a emotively charged tirade.
Try using that space between your ear's for once, and going outside and learning how to grow your own food.
Joe11Blue 1 year ago
This has been flagged as spam show
@Joe11Blue you are a slave
marniespeaks 1 year ago
@marniespeaks I disagree. I say destroy the government and allow the poor to become wealthy by keeping the government out of economy.
romanmir01 1 year ago
Laughable. Only 36,000 jobs created and unemployment goes down from 9.4% to 9.0%. Does the Government think we are this stupid...yes. We are all on the USS Titanic and we hit the iceberg (2008). The ship is sinking. The Federal Reserve as "Federal" as Federal Express will continue to print the "Owe"bama bucks to patch up the gaping hole. The band keeps playing and most think we avoided disaster. Mr. Schiff and Ron Paul keep yelling for people to get to the lifeboats. Most won't listen. I fled.
msungs 1 year ago 2
Thanks Peter.
McRocket 1 year ago
LOL @ 5:02
thechitowncubs 1 year ago
★★★★★ stars - Support Peter! Happy Trades to all Traders!
freeSCALPINGindicato 1 year ago
so the FED is the largest holder of US treasuries? So we can lend to ourselves? There's something wrong about this.
nico3641 1 year ago
@nico3641 The "Federal Reserve" is not a branch of the government. It is a private entity that is owned by wealthy bankers, aka the puppet masters. All the world is a stage and governments are made up of marionettes.
TruthConsciousness 1 year ago
@nico3641 the FEd is not part of the us govt.
tigerpurpleheart 1 year ago
lol yes peter, bernanke literally blamed people in emerging markets diets on the rising food prices.
aaronbasile 1 year ago
The gov't and corporate America are all criminals
markharbor 1 year ago
Are PMs a good idea for someone who is retired 60 and has enough to live comfortably but can't tolerate risk? Why did gold go up so much before 2008? Who was "speculating" in it then? It's a BIG question and keeps me and other people (some of them quite savvy) from plunging into it. If gold was at 500 in 2008 I'd consider it - but it was way over that already. Hmmmm. Also.....what if the government decides to "fix" the problem...sorta like in the 80's? Look what happened to gold then.
ellesstee 1 year ago
If an unemployed person hasn't interacted with the unemployment office for a period of time, they completely drop off the charts for the unemployment figures - both U3 and U6. I think they move off of U3 when they don't file their search reports for a couple weeks (in AZ they have to file weekly)
GreatInca 1 year ago
If an unemployed person hasn't interacted with the unemployment office for a period of them, they completely drop off the charts for the unemployment figures - both U3 and U6. I think they move off of U3 when they don't file their search reports for a couple weeks (in AZ they have to file weekly)
GreatInca 1 year ago
Peter, Ben knows damn well what's causing inflation and is printing our way out of debt and into hyperinflation.
ibislee 1 year ago
Brilliant Peter! Wishing profitable traders to ALL FOREX SCALPING TRADERS!
freeSCALPINGindicato 1 year ago 17
@5:56 price of weed? lmao I love this guy.
thefetalbomber 1 year ago
@thefetalbomber ROFL
Leathor 1 year ago
Bernanke also said that he felt it wasn't the responsibility of anyone but the Fed to audit the books. Talk about the fox guarding the hen house!
noclouds111 1 year ago
I am not counting the weight in my legs.
truthsabre7 1 year ago
I have no skin in the game but I have a few questions...
How is it that people aren't more aware of what's going on? Do they choose not to see it?
What do you think will happen with the debt ceiling on the market weather it goes up or if it's held where it is?
ammosmith 1 year ago
@ammosmith Most Americans are too busy feeding their faces, watching Sports/MTV/American Idol, or too busy in the rat-race known as the American Nightmare to realize what is going on. Before I fled from the USSA I had to explain to a coworker that not everything that is sold at Walmart + Target is made in America because it is sold in America. She thought all the products were made here and was arguing with me about it. Of course she had a 4-year college degree and over $100,000 in college debt.
msungs 1 year ago
Someone asked in class today if the FED books have become saturated with toxic assets due to easing, then isn't the FED a toxic asset? Nobody knew how to answer that, apolitically that is...I have to hand it to Bernanke however, he is using the perfect vehicle to infect the rest of the world with our inflation...the durable goods cycle..I agree the 10yr is firming up into a nice 3-4-5 triangle. One triangle isn't a trend, but still, a possible shot across the bow...thanks for the video Peter!
imataxslave 1 year ago
I liked the old backdrop of books.
Truthpolice9698 1 year ago
When will you upgrade your camera? the video quality is poor!
themeloninc 1 year ago
Ha ha, for a minute there I thought you said "the price of weed"... hahahaa I'm sure you were talking about wheat...
BTW you can upload 15-min videos on youtube now ;)
aprilrosed 1 year ago 27
@aprilrosed He knows; somehow he has a bad compression software, or poor computer, he is having problem uploading longer videos. he said that one time before
ponder2006 1 year ago
@aprilrosed maybe they should smoke some week on capitol hill...lol
manoman0 1 year ago
Peter I think Ben was right about other currencies. If you don't like the dollar then stop tighten your currency to it, I don't see a problem here.
sov19871987 1 year ago
media spin was "bond vigilanties moving to riskier assets because of good jobs report" ha ha..
evergreensing 1 year ago
Thanks Peter, you are the man. Please keep on keeping me informed, it helps me so much!
enduro0276 1 year ago
You know what is a mystery to me? How people even as smart as Peter can say that the people being arbitrarily dropped from the unemployment number are no longer looking for work. If anything, now that they have no income, they'd be looking for work with more urgency than before. It's not like you suddenly stop needing money the day your benefits run out.
GaryVolts 1 year ago
@GaryVolts Truly spoken like someone who has never been unemployed for any extended time. Maybe you'd think differently after sending out hundreds of resumes/applications over the course of more than a year and being able to count the replies you received on four fingers
geheg3d 1 year ago
@geheg3d Hey I empathise with your plight. There are some jobs that are never coming back, or you may have to move to go to the where the work you do is available, or start doing something different than you did before.
But I don't understand your beef. Are you saying that you have run out of benefits and you are in fact not looking for work? So that it's correct to not count you as an unemployed person?
GaryVolts 1 year ago
@GaryVolts I think he means they're no longer "officially" working for work, as far as the government is concerned. I don't think he means they're actually not looking for a source of income.
ivanleo 1 year ago
@ivanleo I'm tierd of people parroting the terminology of the BLS (e.g. "discouraged", "no longer looking") instead of highlighting how absurd this statistic they call the unemployment rate is.
GaryVolts 1 year ago
Too bad Bernanke sits in his gilded tower and can't be questioned on his insane "monetary policy".
One debate with Peter and Ben would head for the hills.
StepUPNJ 1 year ago
Free Office Space with help from the Small Business Administration. Only one tiny catch, your small business must have a 17-1 profit margin. I cannot say what is "reasonable" profit but I can say that expecting another person to do 17 things for every one thing you do is unreasonable.
Will you take out the garbage for me?
Yes I will; will you run 17 errands for me so that I am reasonably rewarded?
ManufacturedLack 1 year ago
44 mio on stamps this week..
streeser1 1 year ago
Inquired about renting a store front last year. The owner wants $3,500 a month. Anyone who rents that location cannot sell coffee because the owner of the building has an agreement with Tim Hortons who leases space down the street from the owner. Free Markets at work. 1 year later and the building is still not rented. The owner makes more money by evading taxes. It's a tax shelter. Tim Hortons is popular because they create contracts which violate free markets and free enterprise.
ManufacturedLack 1 year ago
"rather be reading a comic book "
Peter you are hilarious
Riddlerx333x 1 year ago
Ok Peter....so we get to the edge of the cliff....do we turn it all around at that point....or do we jump?
FreedomMinded 1 year ago
@FreedomMinded - Jump.
Saywhatyoumust 1 year ago
I wonder if there's any truth to $6.oo a gallon milk in the next month? It's been going around on the internet.
silentmajor 1 year ago
"The federal reserve has just eclipsed China as the world's largest holder of US bonds" That says it all, Peter.
bpachol 1 year ago
the diff between job created and unemployment rate is not a mystery at all.
Just read beyond the headline numbers, goddammit.
Unemployment rate is based on household survey and # of jobs created is establishment survey.
TheOkham 1 year ago
PETER !!!!!.........your video is damaged from 5:00 to 5:15 secs..........check it out !
000000000000000000000000000000000000000000000000000000000000000
drydm 1 year ago
God bless you Peter. Keep up the good fight in bringing us the facts.
ProvidentTools 1 year ago 3
In a descending spiral of prosperity and world power, a manipulating authoritarian government might be easily welcomed, in the hope that such a government would somehow soften the unpleasant results caused by a lessening of prosperity and world power. – Francis A. Schaeffer – The Rise and Decline of Western Thought and Culture, 1976
WhereDidItAllGo7 1 year ago
I think Peter is true capitalist, a patriot, and a believer in freedom and democracy. The difference between him and the crony/phony/corporatist capitalists is that he knows he could keep quiet and keep getting richer. Its easy, buy gold / silver / stock in free market economies, then wait while its value in dollars goes through the roof and makes you rich. But he doesn't, he is trying to help the country and his fellow americans.
thunderballacks 1 year ago 3
5:54 "Weed !!!!"
Keep up the great work Pete.
Cheers!!!
Downfacingdog 1 year ago
I hope there is a guillotine waiting for the bernank.
mcourtmiller 1 year ago 2
@mcourtmiller Walk the planke, Bernanke!
He knows how to sink - from the Dow Jones to Davey Jones Locker!
Ok maybe drowning is harsh but he should go for a swim in his pool or on a beach, ie retire!
thunderballacks 1 year ago
(Obama) stats unemployment at 9.0%
(U.3) stats, unemployment at 16.1%
(U.6) stats unemployment at 22.2%
(SGS) Alternate and official charts updated at shadowstats
How do you spell "cook da books"???????
1betrman 1 year ago
Yes, Peter I sure like what you have to say, keep it up! I see, Paulson is to blame in my eyes for the lies that he told of imminent falure of the banks, it was a slick robbery and no one has the balls to speakup and hold hein or more likly them, to the stone for what they have done to America in their self preservations move for personal gains.. It would have been better letting the Banks fail, and start over with clean sheets...Falure, Its going to happen anyway.
acme714 1 year ago
When i loock at the stockprices i want to buy, then i hear schifs report then i want to save . Now hows it gonna be!?
bingoberra18 1 year ago
The answer on the employment numbers is simply - as with all government numbers - they are totally bogus. They can do whatever the frick they want - it's a convenient black box. Lying criminals - all of them!
mcourtmiller 1 year ago
Bernanke and his Gang are fucking criminals and enemies of The People! They need to be executed as traitors to this nation. Off with their fucking heads--for the sake of a civil U.S. and a civil world. We all know where this is going to end; let's get it done before too many innocent People are murdered by the criminal policies of the U.S. Government Mafia.
JejuLee 1 year ago
It's just crazy buying your own debt back? What the hell?
mrdoonbeg 1 year ago
Price of weed (refer to 5:35) going up because of QE that's the last straw end the fed!!
longtrader782 1 year ago
@longtrader782 I thought Peter seemed a little less chilled than usual :)
thunderballacks 1 year ago
Everyone. Add Peter Schiff's video's to your favorites. Tell your friends. Get him more views! Let's go people. Underdog again. Hope he runs again and wins it this time!
shippem 1 year ago
@shippem - i'm Canadian and I spread Peter's word around! i sent an email to all Canadian parties that they have to listen to Peter Schiff and when they start talking like him, they get my vote!! if I were retired, i would want to come and be a campaign worker WHEN he runs again!!
texndaisy 1 year ago
@texndaisy Wish more people thought like you in the USA. we're screwed.
shippem 1 year ago
5:35 ...His Monetary Policy Is Causing Stock Prices to Rise but it has no effect on other prices like: The Price Oil or
The Price Of Weed
The Price Of Cotton
The Price Of Sugar
(lol)
23rdParadox 1 year ago
@23rdParadox that's hilarious! did he really say weed?!! xD
I thought he said wheat.
purplefetus3 1 year ago
@purplefetus3
I heard WEED...
but Pete has a speech impediment... probably due to his thin upper labia...
he should grow a moustache like the biker from the "village people"...
heckler73 1 year ago
@heckler73
HAHAH i heard WEED too, and he aint lying! When stoners can no longer afford their weed, their indifferent lethargic attitude is gone too! STONERS REVOLT! END THE FED!
DuncanL7979 1 year ago
Free Market Fascism > Libertarianism
Working class caused Great Depression.
freemarketfascist 1 year ago
@freemarketfascist
please explain to me what a free market fascist is... sounds like a contradiction in terms. The free market means purely voluntary free trade at all levels.... and free money, is this factored into your 'free market fascist' idea?
DaveC86 1 year ago
@DaveC86 free market fascism = America before Roosevelt + private armies + being poor and unemployed is a crime - democracy.
freemarketfascist 1 year ago
If there was a fair interest rate on the 30 year U.S. debt notes it would be 250% annual.
workwillfreeyou 1 year ago
the guys at the fed and their apologists are trying to have their cock and eat it too with this inflation stuff.
intercourseman69 1 year ago
The U.S. fiat currency = dead cat bounce.
workwillfreeyou 1 year ago
Just out of curiosity how bad is it in US right now?
a) I don't have a job, and I can't afford third car.
b) I have a job and I can't afford a car.
c) I don't have a job, and I can't afford food.
d) I have a job and I can't afford food.
Marine475 1 year ago
This has been flagged as spam show
Ron Paul 2012!!
xennelul 1 year ago
It's gonna be really bad!!
The next move is to start a war...shit!!
express375 1 year ago
Mr Schiff,
it's time for you to announce your Senate approach, you can win this Sir and I believe you have the skills to go to Washington and teach Keynesian's to become Austrians!
It's always a pleasure to watch your video blogs Peter!
ExhibitMan 1 year ago
gotta be fond of Mr.Schiff!
garrethdavis 1 year ago
Peter Whats the difference between "Discouraged worker" and a "worker that leaves the labor force" I think they are both discouraged, therefore, the real unemployment rate is probably a lot higher then 16%, because U6 Doesn't include people that "left the labor force", it only adds in discouraged workers and part time for econ reasons
longtrader782 1 year ago
Love your humor Peter! "might as well read from a comic book" lol
martintheguitarist 1 year ago
i guarantee you he understands everything that you pointed out, thing is if he gave notice to it all of this people would go into panic all around the world and all the poo would hit the fan in a short amount of time. he wants to keep it going for as long as he can. good thinking on his part to cover his butt, bad for the world who gets screwed over in the long run
TheThejoseph 1 year ago