PEOPLE NEED TO SWITCH PARTIES 12 WEEKS IN ADVANCE OF PRIMARIES IN MOST STATES.
IF YOU DO NOT SWITCH IN TIME,
IF YOU ARE NOT REGISTERED REPUBLICAN YOU CANNOT VOTE IN PRIMARY.
IF RON PAUL DOES NOT WIN PRIMARY, NO GENERAL ELECTION ! REGISTER AS A REPUBLICAN. FIND OUT WHEN YOUR STATE HAS PRIMARIES. FIND OUT WHERE AND VOTE VOTE VOTE ! PLEASE!
WE NEED EVERY LAST VOTE ! Copy and paste, Thumb them UP!
Now make sure you guys keep buying as Gold/Sliver Creators. Because I want your money! Don't worry it's going to good use. I will spend it wisely a Few Greek Islands, The Coliseum so the little ones can play Gladiator, Eiffel tower I want to move it into my back yard, a few German slaves to move it and I also want to start my own car and Plane company and The Entire London stock exchange. The rest I will buy all of China. I like their food!
@XESTISS Funny, morons like you also laughed on TV when Peter was right the first and second time (.com and housing bubble) and now you're going to get fucked in the ass yet again, you just don't understand it yet. I'm going to remind myself remembering you when it happens.
@TWSceptic Look up Peter Schiff Lost 60% of his portfolio! You and him Already got Fucked in the ass and continue to do so! How is the that idiotic call to Short Binds 46% lower going for you idiots? How is the Dollar Index is going to .50 trade going for you? How is Buy silver at $45 going for you? How is the DOW 1000 call made in 2009 Going for you? How is the 2011 call of Buy Gold Silver and Commodities call going for you? CRB index is Down 37% YTD! There you go Peter Was WRONG! IN THE ASS!
@XESTISS Everyone lost money in 2008 you dumbass. In the years after he gained more than US stocks. But you haters are too retarded to give people credit, only hating. I fucking despise your kind. Furthermore the trend for precious metals has been predicted for years yet a correction is normal obviously you're too dumb to understand even the basics of stocks that's how retarded you haters are. But let's listen to what your portfolio looks like I bet it's a complete failure, just like you. Fuck y
@TWSceptic Don't give me that shit! This exactly why all you idiots are laughed at! When you predict something you nail it because you know something others don't! John Paulson Knew it and made $32 BILLION!!! You see him on You tube or any shows saying he predicted the house bubble? NOPE! Because he actually did predicted it and made a shit load of money! hahahah idiot! ALWAYS EXCUSES LIKE A TEN YEAR OLD! pathetic!
@XESTISS Reading your comments remind me of a 6 year old ignorant kid. Your arguments fail every time, you cherry pick to prove a point, people see through it. Again you do not see the larger picture that's why you keep losing money, yes it's pathetic.
@TWSceptic HAHAHAHAHA! Is that the best you could come up with? I gave you 10 years of you being wrong and losing money and this is your best rebuttal?? hahahaahaah!!! P A T H E T I C ! ! !
@XESTISS And what happened to John Paulson's fund this past year? It had a 50+% drop! He got lucky, and made many of the mistakes that Peter has brought up while making money dooming his fund to failure. He basically created his own bubble.
@TheNickFox Do you see Paulson wasting his time on YouTube trying to make predictions, sell Gold or a Radio show? Didn't Paulson Make Billions in the housing collapse? He didn't predict it and lose 60% than run around pretending he predicted the bubble!
@TheNickFox Schiff made money? Go to Euro Pac website and tel me what his funds performance was in 2011? -16% -23% and - 36% Only one made 16%. Don't worry about Paulson. Worry about all the bad calls Schiff has made over the last 10 years. It's ammusing you would even bring up Paulson. Really!
@invisiblered Did you cheese fall of your cracker!? Rwanda as a true Austrian Libertarian state? Yeah because being founded on and under the boot heal of Belgian imperialism for a century is a real recipie for peace and prosperity. Not to mention the Belgian government for over 50 years deliberatly antagonized tribal tensions between the Hutu and Tutsi. Rwanda's problems stem directly from govermental imperial interventionalism. People like you, who advocate force and coercion are dangerous.
Today "China warns of 'severe challenges' to exports to West" Didn't PS say you all should be investing in China because they got it right and we don't? Didn't PS say That China will Decouple from the US? Didn't some of you tell me how China is trying to slow their inflation and they are fine? LOL! Once again I am proven right and PS wrong!
@Minethis1 I was one that told you that China was trying to slow their inflation. My source was the same one that you quote in this post, the BBC. What reason did China give for exports to the west being down? Did they happen to mention that total exports were still up over last year because of increased sales to Latin America and other Asian countries?
@orionstarman Lowered sales in US does not mean that Increased sales in Ecuador or (the entire Continent for that matter) makes up the difference. This is why I say that you speak in vague meaningless words. Than you think I am being a smart ass.NO I am being Honest.
Words like "Sales" "Up" "Down" Mean Nothing! A 10% reduction in US with a 10% increase in all of South America are two VASTLY Different meanings when Quantify. China has problems going forward.
@Minethis1 Did you miss the part of the article that said that China's exports were UP over last year or was it that it just didn't fit you argument? And I'll quantify more if you strawman less.
@orionstarman Last year? O OKAY! It didn't say Next year right? I didn't think so. OKAY well if they were up last year than it's all good than! Smart thinking!
You sir have a fetish with the past. I told you that before didn't I? Well it's okay I say it to you again!
@Minethis1 Hey man, it was in the article that YOU quoted "The country's total exports, however, were still up 15.9%, thanks in part to booming demand from Latin America." Exports up 15.9% YOY how much were our exports up YOY? If u don't want people to call u on it than don't bring it up. "fetish with the past" yeah just like that book I told u about. Man they sure did use a lot of big fancy words in the olden days didn't they. Oh, that right you didn't bother looking at it did you
@orionstarman WHAT Are you calling me out on you Dumb ass? Are you reading your own posts or not? Who Cares What the article said about last year? Tell me What Does that matter? The Point is Exports to the West are going down IN THE FUTURE! The FUTURE IS WHAT WE CARE ABOUT MEATHEAD! Sitting there talking shit as if it means something! QUote me what exports were in 1968 why don' t you. Call me out on that! You Are dismissed! My fault for paying any attention to you!
@Minethis1 You don't even remember the point you were trying to make in your original post. "Didn't PS say you all should be investing in China because they got it right and we don't? Didn't PS say That China will Decouple from the US?" China's exports UP overall, 15.9% THIS YEAR, while exporting less to the US. Your own fucking words dumb ass! You only brought up "FUTURE" after you got called out. Dismissed? I don't think so.
@orionstarman You Dumb ass! Don't try to twist words to whatever you want them to mean QUANTIFY! For 3 THREE Fucken Years China has underperformed the US SPX! MAKING PS WRONG! China DID NOT DECOUPLE FROM THE US! In My Other Post I said "I hope China Doesn't have a Hard Landing! BUT I DOUBT IT!" Now Your sitting here telling me That 15% YOY Growth! Which Means DICK! What is the Market Doing? UNDER PERFORMING! Schiff is Wrong AGAIN!
@XESTISS You are completely retarded, I have no other word for it. The funny thing is that you will be pwnd in 2012 and we will all laugh at you. FUCKTARD.
@TWSceptic I thought I was going to be Pwnd in 2001,02,-3,04,05,06,07, definitely in 08,09, no longer than 10,11 now its 2012?? YOU DIZZY MF! YOUR CLUELESS!
@Minethis1 lol, you "quantify" in dollars, dollar valuation can easily become meaningless if the us gov. inflates the currency to a point that the creditors, like china, will no longer take, as soon as china decouples their currency from the dollar,the monetary value of their trade with south american countries will be assessed relative to each others currencies, and that will be seen through trade of real wealth(production), not paper and code,which the us thinks is actual value,lol
@invisiblered LOL Your Right! Thats why You need to move your Family to a True Austrian Libertarian country like RWANDA! Limited Gov, No FED, No TOO BIG TO FAIL, No Labor Laws, No Min Wage, No Welfare State, No FIAT Bartering is common Place, No WallStreet, No License for your Neighbor to Plunder your Wealth! If he Even Looks like he is thinking about it. Take a Machete to him! No Questions asked! FREEDOM! RWANDA! Everything you want! For the Real Austrian economic Libertarian!!
@Minethis1 That was up 15.9% THIS YEAR. As in RIGHT NOW. Cherry Pick!!! Yes!!! Thats exactly what you did. The words I used came right from the SAME ARTICLE that YOU quoted!!! YOU quoted the part that fit YOUR argument and IGNORED the part that didn't. Or maybe u just didn't read past the headline. Next time read the whole damn thing before u start quoting and u won't get bit on the ass.
@212hard Thank You! You just proved my point! That savings must be lend out and consumed! Not just sit there in the bank producing nothing! As much as you want to disagree with me you can't by your own words! Too funny!
@212hard And your point is? if you loaned to 10 homes and their value drop 15% that 10% you have in is GONE! Thats why the Fed Stepped in and Backed that 10% in some cases a lot more than that. To keep them solvent till they restructured and raised capital. So whats your point?
@Minethis1 The problem is that the homes were never really worth that. The cheap-to-free money that was being generated by low interest rates was causing house prices to skyrocket...and the markets still haven't been allowed to correct themselves. We're keeping housing prices artificially high...despite the fact that the economy can't support those prices anymore.
@212hard Next time before you come pounding your chest. Take a moment and think. Quantify the words that were written. If you don't understand it or have a better solution THAN speak up! Otherwise leave it alone.
Your emphasis on the trade deficit and consumption of imports seems ignorant of the fact when people buy the things they want, no matter who makes them, no matter from where, at a the best price, it enriches them. These foreign exporters have to do something with the dollars we send them, either buying from or investing in US companies.
@DavidCaddock Yes thats just what WallStreet wants. Our high paying wealth creating jobs go overseas and the money comes back to WallStreet bankers. And the American middle class takes another step down the ladder to the third wrold.
@orionstarman WallStreet another Bogie men argument that is not Quantifiable. Vague meaningless words! NO Country in the World with a Population of 300 mil or more has a stronger Middle & Poor class in the World! We are the 1% of the World my man! This is a FACT! Quantifiable words! You can cry cream bitch moan and crete all the bogie men in the world! It ill not change this FACT! You are just an uneducated greedy, bitter person trying to make others feel the same. Sorry UR wrong!
@Minethis1 I guess you have not been paying attention to the news for the last 4 years. Yes we do have strong middle class and our, so called poor, are very rich compared to the poor of the rest of the world but that is changing as real income, adjusted for inflation, has been going down not up for some time now.
@ostralopithicus The trick is to upload videos that have the least compression possible, so that when YouTube recompresses it, it has enough information to work with. The artifacts viewable here are the result of uploading a video that had too much compression already applied. The artifacts were 'not' visible in Peter's original video, I am sure, but the recompression at YouTube created them due to the high amount of pre-existing compression.
@ostralopithicus It's not youtube, or Peter im pissed off with. It's the people that think that anyone that has a brain or does well is some shape shifting lizard. It is beyond the realm of reality in my opinion (and yes i've looked at all the David Icke stuff) and I just don't believe it. It's nothing to do with the fact of what happens, I couldn't care if the video is distorted for a second, it's the fact that everyone thinks he is a lizard if it happens just irritates me.
Will a recession in Europe and China lead to LOWER PM prices in the short-term? I find Peter to be largely right overall, but mitigating factors enter into play and can delay the macro trends. If Europe and China slow down, silver in particular could be restrained by lower industrial use, at least in the short-term until its monetary value flares up again. Also, gold could continue consolidating its big gains and even lose if the dollar strengthens in the face of Euro weakness. Thoughts??
Who still believes in government supplied numbers? We have been at 20% unemployment for years not 9%. They make up these numbers just like presidential polls.
When I was even more a newbie to gold theory than I am now, I mentioned to my class of economics that owning gold and silver during economic downturn was a safe way to invest your money. Everyone just looked at me in wonder as if I was an old citizen coming back from the middle-age. Even my professor only acknowledge that ETFs were options, but I could tell he had never TAUGHT about gold-ownership. This be might an old instinct to protect ourselves with real value, but it's still wise
The specialists raising the market sharply higher is akin to the executioner raising the guillotine...the sheep are ready for slaughter...yet again....
1 First off Swaps are inter bank derivative instruments . Unless we all started using swaps tomorrow there can't be any monetary inflation because of this action. So I am forced to throw the Bullshit Flag on that!
2. There goes PS calling the EZ collapse a Success again! Sigh! If your Stupid enough to believe that I don't know what to tell you.
3. If Gov cuts spending now that will shrink the money supply further and more jobs will be lost helping the collapse along very nicely! Bravo!
11. To say remove the efficient machine and replace it with people to show manufacturing jobs have increased is utterly STUPID! We don't need to waste human capital making Casio Digital watches with calculators for $7.25 per hour.It's better to give those jobs to "Booming" economies that earn .17 cents an hour! Not hard to figure this one out!
12. To downplay and suggest that the entire worlds investors are all dumb for buying up the DOW 500 points is definitely arrogant and stupid.
@AntixSchiTTxreport Yes I do thanks for asking. Do you know what a Balance Sheet recession is? Do you Understand that Savings can only come through spending? Do you understand that everyone benefits from inflation since Fixed Debt becomes a smaller and smaller part of total income? Do you understand in deflation that debt becomes a bigger part of income? Do you understand you measure purchasing power in total income instead of a per $ basis? You really need to learn a lot!
@Minethis1 Excuse, could you explain to me how the heck does savings come from spending?? How does everyone benefits from Inflation?? . Savings is another form of spending. The person who saves money in bank, allows to have real loanable funds for another person to borrow and expand in a capital investment or in an entrepreneurial venture. Also the person who saves more has more ability to spend and consume in the future as well as to invest and create wealth, driving economic growth.
@jaimepanama I swear you people are like parakeets repeating PS crap without quantifying what you are repeating. Sigh!
1. If I do not come into your store and buy something how can you have an income to pay for fixed cost, hire, pay down debt, have discretionary income and than save? You can't! IMPOSSIBLE! If you don't have money you can't buy in MY STORE! Same would apply to me if you didn't spend! if you save and I save no investment can be made! B/c No one is consuming!
@jaimepanama 2. by your own words you say that savings must be spend in "entrepreneurial venture" "Spend to borrow" LOL. They are not savings anymore are they? NO! Even if you spend the savings to invest in a new store to sell things Who the F$*k is going to buy if everyone is saving? No one! What will happen to your investment? Go to ZERO! So you see by your own words you prove and agree with me that Savings and investment can only come from Consumption! PS is 100% Wrong! Quantify!
@Minethis1 Thanks for your answer. You present here a condition in which everybody is saving at the same time and at the same rate, this is not what I meant. I agree with you, that savings ultimately leads to spending, but it's not the other way around, this is why I'm arguing. I mean, how is it that savings and investment come from consumption? How can you spend if you don't have anything saved in the bank?
@jaimepanama Lets make a small economy together. You have Food. I have Water. 1 shell is our currency. I come to you and Give you 1 shell for 1 pound of food. You now have the Shell and come to me and buy 1 Gal of fresh water. You drink half of it & save the rest. Next day I am hungry but I don't have a shell so I have to wait for you to spend it so I can eat. Other wise I starve. You saved Water. I didn't. You also kept the Shell. The transaction Shell comes 1st. Part 2
@jaimepanama PT2 You see no matter how much Water I produce without the Shell It is Worthless! Because I need Food. To get the Food you MUST Spend it first. Initially You appear smarter because you saved 1/2 Gal of water (wealth) but if I die from hunger Your water will run out your shell will be worthless and die shortly there after from thirst. But! If we keep the exchange of the shell going (velocity) We can both save food and water over time. Remember this is 1 shell doing it all.
@jaimepanama Part 3 So you see the Shell has no value. Wealth is Food and Water. The shell is only a medium of exchange. I can't eat it, Drive it, drink it and makes absolutely nothing. Its value is you and I and our food and water. Even if we introduce another Shell into our economy we would require 2 shells to buy 1 pound of food or Gal of water. There is no value lost. Just more shells. Without the extra shell in circulation we would still only use 1. shell No inflation. Part 4
@Minethis1 Part 4 So even though another shell exist on reserve if it is not in circulation there can never be inflation. One of us needs to have it first. The moment you and I have it price automatically jumps to 2 shells per Pound and Gal. No value lost we measure total shells in our pockets. Not how much each shell is worth. Because cumulative they still buy the same thing that we bought with 1 shell. If we stop spending and consuming economy goes to Zero no matter how much F or W
@Minethis1 But now each person has to some how come up with an extra shell to buy what once cost only 1 shell. Why do you always deal with absolutes? 100% of the people don't completely stop spending. People still have to eat. Even during the 1930's there were companies that were doing very well, P&G for one.
@jaimepanama Yes they look at Credit in a snap shot in time. You see if you lose your job the next day they don't know that. If you go and blow your savings in a casino Bank doesn't know that. When you want to buy a house everyone saves their ass off to show they have cash on hand. The minute people sign the savings gets blown out. lol
@orionstarman Thats what you are saying we all need to save more. Why don't you Quantify for me how much money we should have in the corner taking up space producing nothing. I love to hear it.
Americans are taught that consumption leads to economic growth. This is true ONLY when money is spent responsibly. Unfortunately, Americans way over-consume, and everyone's in debt. Most household has the mortgage bill, auto bill, credit card debt, maybe some student loan from decade ago...etc.
Remember when one over-consumes, you are ONLY helping the big business like walmart grow, but not yourself.
@joechien0218 Yes very true we are taught to consume rightfully so BUT that does not mean that things don't go too far sometimes. Lets not go to the other extreme because if we do we will collapse ala EZ style. Not bc we don't have the Assets to back it up. But because we chose to limit our liquidity. Stupid really. US assets are 57 Trillion with 15 trillion of debt and we default lol. Because we wanted to be little savers all the sudden. Insane really.
@Minethis1 You save as much or little as you can or want its up to you and why should I put my savings in a corner. There is nothing wrong in looking for a return on your savings.
@Minethis1 Also, inflation does not benefit everybody... in fact it only benefits the special interest groups, such as the federal government, stock market, wall street banksters. How is the regular person or the consumer served by having their value of their savings and the value of the currency diminished. Yes, inflation can make current debt burden lower, because that debt is fixed, but for sure it cannot make current consumption and capital investments or entrepreneurial ventures easier.
@jaimepanama Of course inflation helps everyone. Today we all have fixed debt! If your income is $1000 and the fixed debt is $500 a debt to income ratio of 50% through inflation of 3% in ten years $1343.92 Your debt is still $500 per month. Debt to Income ratio is 37.2%. How about deflation? The opposite is true! $1000 deflated 3% for 10 yrs = $737 The fixed debt is still $500 debt to income ratio is 67%. So you tell me do we all benefit from inflation or Not? Sigh!
@AntixSchiTTxreport Of course debt is a good thing. It takes dead money and turns it into something productive. Go put a bunch of $'s in a corner in your house and let it sit there till you retire and tell me how many Stores, Factories, skyscrapers, Oil, copper, steel, Jobs, homes, cars, Ipads, Smart phones, Airplanes, Ships, food, Beers, Dildos, blow up doles it produced! NOTHING! It PRODUCES NOTHING! Only through Credit and debt can we make that money produce anything!!!
@TheKryan O Boy! A Currency "defines" value in a point of time. If people can't value what they are producing what is the point? A currency is a lubricant of an economy Not the "Value" of an economy. In other words it Only defines value not produces it. Therefore it must have velocity and be liquid not stagnant! PS & all that believe his crap think Money is wealth! Value can only be forced by limiting the supply in circulation at the expense of destroying an economy eventually no Eco!
@Minethis1 My response was meant to be addressed to AntixSchiTTxreport when he said that debt is good and "Only through Credit and debt can we make that money produce anything!!!". I wrote your nick by accident and I agree with what you just wrote about currency :)
@TheKryan Oh! :P Nice to see someone educated that can explain this to these people as well. Because it is a dam shame for PS to BS these everyday people who are small business owners, Dr. Bus drivers, Plumbers etc. to scare and fool them into buying his certificate of Gold ownership in Perth Australia in exchange for their hard earned money That PS says is "worthless" pieces of paper! Sigh! Right now they are not hurt but eventually they will be. Everything he says is ass backwards!
@AntixSchiTTxreport This is a fact. This is not what I think. Money only defines wealth in point of time. Why point in time? Because population, productive output, Efficiency all grow over time and the money supply MUST grow with it. Otherwise you get monetary deflation and can't properly measure the value of things. If there was 1 $ and 1 widget the value is $1. what if i produced 2 widgets? now they are valued at .50 cents! more I make the less it's valued! So I make less.
@Minethis1 Debt used by business to buy capital goods that will return more in profits than the cost of the debt is good. Debt used to buy throw away consumer goods is bad. Debt used to bail out WallStreet speculators that create nothing is really bad.
@orionstarman 1 If people do not consume Cellphones because they will throw them away there will never be any need for innovation would there? In Fact there would never have been cell phones to begin with! Or Computers, Or Cars, or Music, or Movies, or Stereos, Or sneakers, etc We would only have Tables, chairs Horses buggies etc. Without Wall street there would be no funding for new innovative companies. Apple Google Intel, Microsoft, HP etc. Unreal!
@Minethis1 Total BS. Some people will buy a thing and use it until they can't anymore and others always want the latest and greatest and the rest of us are somewhere inbetween.
@Minethis1 Inflation only helps those who get the to use the new money first like the WallStreet bankers and the gov. Those of us who have no debt only see our savings devalued. And how about deflation? This country had steady deflation for the 100 most productive years of our history.
@orionstarman Deflation for 100 years? Dude What are you smoking? Population and economic growth has been growing exponentially so has the money supply accordingly! If it Didn't we would look like countries in Africa! WTF Are you talking about Michele Bachmann? We are just going to start making shit up as we go now? look dude you have LOST ALL CREDITABILITY and i will stop responding to your crazy posts. Enjoy talking to your self Michele Bachmann!
@Minethis1 Look it up dude. There was a slow but steady price deflation for most of the 19th century and into the 20th as innovation and productivity increased to lower the cost to producers. I can't stand Bachmann. And Keynesianism has never had any creditability.
@Minethis1 Thanks, It is true that inflation benefits everyone under this scenario when there is too much fixed debt and incomes are stagnant. But I have learned that inflation devalues the currency, and raises prices and commodities. So, fixed debt burden is eased, but what about current and future consumption when prices rise? can you please explain to me? Again, I am really not trying to offend you or treat you as an idiot, clearly you prove that you are very smart.
@jaimepanama I feel bad that you even have to say you don't mean to offend. Should not be like that. A few post on good question that is not black and white. So here we go.
1. When Interest rates drop commodities rise in anticipation of economic growth. Remember this Growth pricing is NOT dependent on the US economy but rather the GLOBAL economy.
ie Emerging markets, China India, Brazil etc consumption This has nothing to do with the Dollar. Part 2
@Minethis1 Don't feel bad, I said not offend you because you called me a parakeet lol. This is very true that the world is very connected and the global economy dictates prices rather than just a local economy. You say that the rise in commodities is an anticipation to economic growth and point out emerging economies like brazil and india. Also, you mention that it has nothing to do with the dollar, even though the dollar is the reserve currency of the world and central banks hold dollar.
2. Imagine you are a money manager. People pay you to invest their $'s Bilions. You have the Following options
Stocks, Commodities, Real estate, Currency, Bonds. Cash is not an Option for a full position. If you overweight the Small Commodities market Prices will rise rapidly causing inflation in that area. Not because of the weak $ but rather reallocation of assets away from risky assets (Stocks). people will always need food. PM are fear indicators. Part 3
@jaimepanama Part 3 The DX the real measure of Dollar purchasing power is at .80. Does it go to above and below these areas? Sure But remember Purchasing Power is relative to other Currencies. Apples to Apples comparison. Today the DX is at the same Value it was before we Printed in 2008. But Gold has been climbing for 10 years What Gives? Remember we are in a Global Eco. look At China Printing 17% clip or doubling their TOTAL money supply once every 40 or so Months for TEN YEARS! hm
@jaimepanama If China has been printing their ass off why are they not Hyper Inflating? Because printing does not CAUSE! Hyper inflation. B/c It is a RESULT NOT a CAUSE. Inability to Tax, regime change, losing a huge component of the productive output, liabilities exceeding Assets, NOT PRINTING and causing all debt to come due as bonds implode is what causes Hyper inflation. Not Printing! So where did all those printed RMB go? Part 5
@jaimepanama Part 5 all those RMB's rapidly flooded the World bond markets causing yields to drop dramatically. This Cheap Money caused Debt to rise and fueled the the housing and Emerging market investments and Boom! Consumption of "Commodities" naturally Rose as did Prices. Globally! Banks became more interconnected Globally Derivatives were King and The Growth rate became unsustainable! the slightest reduction in Growth would send the World into a Rapid Deflationary Spiral! Part 6
@jaimepanama Part 6 The first sign was the Financial Lock Up of 2008 where no one knew what was worth what and who owned the worst assets So the Market priced all Derivatives to ZERO!. Trust Between Banks went to ZERO! Everything Froze as everyone didn't know what to do next. Insurances co are not Designed for All Out Collapse! Where would the money to unlock come from? if it didn;t come Pay checks would not go out people take runs on banks Business could not pay for Inventory etc Pt7
@jaimepanama Which Now Brings me Back to Dollar devaluation. With out the Fed back stopping and Unfreezing the banking system No currency in the world would be worth anything! If the money already existed and credit contracted or lost 10% and the Fed replaced that 10% is that expansion? No its not.B/c he did not ADD an extra 10% of $ to what already existed. He Only replaced it and in exchange he avoided an all out Collapse! Thats why the DX never went to .50 that PS claimed! Part 8
@jaimepanama Part 8 Lets do a simple exercises Take every single $ in the US and that is owned by every single Country, Company, and person worldwide! Add in Every single $ in available credit for Every Country, Company and Person Worldwide since we are the Worlds reserve currency.Now Divide that Number by what the FED printed and tell me what % did we really devalue the Dollar?? It's a laughable 3% Maximum! OUU! Even if the FED didn't replace the lost credit and added it. Part 8
@jaimepanama Part 9 3% is nothing. in Fact Population growth has already consumed most of that amount already. Imagine when the worlds productive output starts increasing again when we recover. We are going to need to Print more just to keep up and avoid monetary deflation. Despite the fact that inflation will cause interest rates to rise which contracts the Money supply.As you know we got room to raise lol! lastly Part 10
@jaimepanama Part 10 1. EZ must print what is required, forget Austerity and stimulate ASAP! EZ is the Worlds 2nd largest Economy and 22% of our total export not to mention the debt we Hold. 2. We need time to recover, Housing to bottom, Healthy consumption, 3% Inflation to help lower fixed debt, Keep the $ relatively weak .75 to .80 to keep exports up, Slow gradual debt reduction, 3 to 5% savings and relatively low rates. 3. Hope that China doesn't have a Hard landing which I doubt!
@Minethis1 BBC News says that China has been working hard since last Oct. fight inflation and it has gone down for the last three months. If you believe their data. They are tightening monetary policy, raising interest rates and reserve requirements. So China seems to think that inflation is a bigger problem than you think it is.
@jaimepanama Dude don't listen Minethis1 or anyone else that advocates the same kind of failed economic policies that he does. The FED and the Gov have been using his kind of thinking for the last 50+ years and thats whats got us into this mess. In the last 3.5yr the Gov handed WS $4trillion up front and the FED handed them another $7.7 trillion around the back. If those policies worked the economy should be growing like crazy right now and its not. We've only made things worse.
@jaimepanama First off I have already quantified this in great detail in previous posts. Please go back and read it. I will tell you this if it makes your fixed debt cheaper you benefit! 2. Money is NOT wealth who ever told you that should be SHOT DEAD! 3. inflation does not devalue "your total income" Which is the true measure of purchasing power. NOT ON A PER $ BASIS! DX /80 I have write extensively on these subjects as well. You disagree w me? No problem Just sit back & Watch EZ.
@Minethis1 I learned all of this by reading Henry Hazlitt's book economics in one lesson. I don't mean to offend you or anything, I just want your answers!
@jaimepanama Henry Hazlitt Was a Pothead that's why he believed the voodoo economics and flying unicorns! Like I said before all Classes benefit from inflation which even by his words proves what I am saying.
Stop looking for answers in the past and come to the 21st century. Unlike the past today we truly have a fast paced electronic Global economy that is FIAT and DEBT based. Prices are set by the global economy not the local economies. This is a vastly different animal.
@Minethis1 And you believe in skittle shitting unicorns, that we can just borrow and spend forever with never a price to pay. Come to the 21st century, yeah right, every day we get closer to total economic destruction because of people who think like you. And what the hell is wrong with pot anyway?
@orionstarman Nothing wrong with Pot! You just can't be pretending you that the flying unicorns are real. Savings produces nothing! I have proved that fact over and over again. I will do it one more time for you. Take your savings and put it in a corner. When you retire come back and tell me how many factories, stores, homes, Jobs, cars food, beers, Dildos, blow up doles have they produced in the corner. NONE ZERO! It is worthless! Money only defines wealth in a point in time!
@Minethis1 You have only proved it to yourself. Who said anything about putting savings in a corner? Of course you look for a return on your savings. The problem is the fractional reserve lending [or speculating] that the banks do.
@Minethis1 well I guess u clearly dont understand that as government gets more involved it results in a lower GDP output per civlian resulting in a larger trade deficit!!!
@AntixSchiTTxreport I don't understand the Trade deficit? Wrong! You don't understand it. Lets quantify your words. If you want to have a trade surplus all you have to do is give up everything you own (House, BMW, Granite tops, smart phone, 60% of your food consumption, pool, medical insurance, 401k etc) Lower your income BELOW $5000 a YEAR and compete with China, Bangladesh, Vietnam etc.Trade deficit problem FIXED! Let's just destroy 90% of GDP. Get used to Daddy I'm hungry
@AntixSchiTTxreport Let me ask you something. Would you rather we consumed our own Oil or Get it from the Middle east in exchange for little pieces of paper with our presidents on it that we can print up all day long and keep our oil? Do you know how much of those little pieces of paper are reinvested back into the US economy? What would happen to our trade deficit when we stop using their resources after they are depleted and we still have ours? but the Gov is Bad & stupid right???
@Minethis1 We already run huge trade deficits. but besides that point, what happens when other countries stop accepting our "dollars we can print all day long" bc they realize they are iou's that they will never be able to redeem bc we dont make anything except dollar bills in the US?
So, yes! the government and anyone who thinks this is good economic policy is extremely short sided and very stupid.
@jlay3000 Come on now! This is PS garbage you are repeating. What will happen if a whale eats you up in the middle of Time square? Than what? Who is going to sell the $? China? Please quantify for me how many $ China owns? get back to me.
Of course we are running a deficit we are in a Recession! What do you expect? A surplus? Would we expect a Surplus to continue forever in the 90's? No just like we will not have a deficit forever. This is what is very short sighted and stupid! Part 2
@jlay3000 We don't produce anything? What? We produce Human intellectual capital, innovation, efficiency, Jobs for the world and investment in emerging markets world wide. Do not confuse efficiency with lack of production! If we removed an efficient machine that did the work of 100 men would we not create jobs? Yes would the cost of production not go up? Yes! Would Income not go down? Yes! Would that not take human capital away from new more productive innovative projects? YES! Crazy!
@jlay3000 Part 3 IOU's is taking savings and making it work for you. Savings sitting in a bank produces NOTHING! If the Chinese knew what to do with their savings would they be giving it to us? NO! So they give it to us for a Whopping 1.9% so we can create jobs for them Who benefits? We do! because we produce 5 to10% Return on their 1.9%! Where do you think all that 3.7 Trillion on American co balance sheet come from? Why are Emerging markets collapsing without our investment? Sigh!
No no no consumer sentiment good spending Good consumers not consuming Bad.
Ipostle 2 months ago
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Premier112 2 months ago
5:14
"Yes it temporarily boosts our GDP, but it permanently boosts our debt".
Hehehe, Schiff you are excellent with little catch phrases and economic jokes xD
Jotto999 2 months ago
you can't fix an afro-bozo country because it's filled with...........afro-bozos.
TheNewMusicNetwork 2 months ago
@sellsjeeps afro-bozo countries never do well.
TheNewMusicNetwork 2 months ago
Gold/Silver Is Screwed! Dollar is Going Higher!
Now make sure you guys keep buying as Gold/Sliver Creators. Because I want your money! Don't worry it's going to good use. I will spend it wisely a Few Greek Islands, The Coliseum so the little ones can play Gladiator, Eiffel tower I want to move it into my back yard, a few German slaves to move it and I also want to start my own car and Plane company and The Entire London stock exchange. The rest I will buy all of China. I like their food!
XESTISS 2 months ago
@XESTISS Funny, morons like you also laughed on TV when Peter was right the first and second time (.com and housing bubble) and now you're going to get fucked in the ass yet again, you just don't understand it yet. I'm going to remind myself remembering you when it happens.
TWSceptic 2 months ago 6
@TWSceptic Look up Peter Schiff Lost 60% of his portfolio! You and him Already got Fucked in the ass and continue to do so! How is the that idiotic call to Short Binds 46% lower going for you idiots? How is the Dollar Index is going to .50 trade going for you? How is Buy silver at $45 going for you? How is the DOW 1000 call made in 2009 Going for you? How is the 2011 call of Buy Gold Silver and Commodities call going for you? CRB index is Down 37% YTD! There you go Peter Was WRONG! IN THE ASS!
XESTISS 2 months ago
@XESTISS Everyone lost money in 2008 you dumbass. In the years after he gained more than US stocks. But you haters are too retarded to give people credit, only hating. I fucking despise your kind. Furthermore the trend for precious metals has been predicted for years yet a correction is normal obviously you're too dumb to understand even the basics of stocks that's how retarded you haters are. But let's listen to what your portfolio looks like I bet it's a complete failure, just like you. Fuck y
TWSceptic 2 months ago
@TWSceptic Don't give me that shit! This exactly why all you idiots are laughed at! When you predict something you nail it because you know something others don't! John Paulson Knew it and made $32 BILLION!!! You see him on You tube or any shows saying he predicted the house bubble? NOPE! Because he actually did predicted it and made a shit load of money! hahahah idiot! ALWAYS EXCUSES LIKE A TEN YEAR OLD! pathetic!
XESTISS 2 months ago
@XESTISS Reading your comments remind me of a 6 year old ignorant kid. Your arguments fail every time, you cherry pick to prove a point, people see through it. Again you do not see the larger picture that's why you keep losing money, yes it's pathetic.
TWSceptic 2 months ago
@TWSceptic HAHAHAHAHA! Is that the best you could come up with? I gave you 10 years of you being wrong and losing money and this is your best rebuttal?? hahahaahaah!!! P A T H E T I C ! ! !
XESTISS 2 months ago
@XESTISS And what happened to John Paulson's fund this past year? It had a 50+% drop! He got lucky, and made many of the mistakes that Peter has brought up while making money dooming his fund to failure. He basically created his own bubble.
TheNickFox 3 weeks ago
@TheNickFox Do you see Paulson wasting his time on YouTube trying to make predictions, sell Gold or a Radio show? Didn't Paulson Make Billions in the housing collapse? He didn't predict it and lose 60% than run around pretending he predicted the bubble!
CitizenNumber 3 weeks ago
@TheNickFox Schiff made money? Go to Euro Pac website and tel me what his funds performance was in 2011? -16% -23% and - 36% Only one made 16%. Don't worry about Paulson. Worry about all the bad calls Schiff has made over the last 10 years. It's ammusing you would even bring up Paulson. Really!
XESTISS 3 weeks ago
@invisiblered Did you cheese fall of your cracker!? Rwanda as a true Austrian Libertarian state? Yeah because being founded on and under the boot heal of Belgian imperialism for a century is a real recipie for peace and prosperity. Not to mention the Belgian government for over 50 years deliberatly antagonized tribal tensions between the Hutu and Tutsi. Rwanda's problems stem directly from govermental imperial interventionalism. People like you, who advocate force and coercion are dangerous.
sellsjeeps 2 months ago 12
Dude this looks awesome with my 3D glasses on!!!!!
SuperTopReviews 2 months ago
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Enemy of Greece, Ireland,Italy,Spain & USA - Jew
1.Goldman Sachs CEO, Lyold Blankfein- Jew
2.IMF Deputy CEO, John Lisky-Jew
3.Ex IMF CEO,Dominic Strauss-Jew
4.World Bank CEO,Robert Zoellick-Jew
5.Ex World Bank CEO,James Woolfesen-Jew
6.Fed Chairman, Ben Bernanke-Jew
7.Ex Fed Chairman,Alan Greenspan-Jew
8.Obama Treasury Secretary, Tim Geithner-Jew
9.George Bush Treasury Secretary, Hank Paulson-Jew
Stevie68000 2 months ago
Is this video on 3d?
ryanm2450 2 months ago
Today "China warns of 'severe challenges' to exports to West" Didn't PS say you all should be investing in China because they got it right and we don't? Didn't PS say That China will Decouple from the US? Didn't some of you tell me how China is trying to slow their inflation and they are fine? LOL! Once again I am proven right and PS wrong!
Minethis1 2 months ago
@Minethis1 I was one that told you that China was trying to slow their inflation. My source was the same one that you quote in this post, the BBC. What reason did China give for exports to the west being down? Did they happen to mention that total exports were still up over last year because of increased sales to Latin America and other Asian countries?
orionstarman 2 months ago
@orionstarman Brazil $2,102,018 million
Argentina $694,690 million Colombia $484,960 million
Venezuela $369,324 million Peru $300,114 million
Chile $281,368 million Ecuador $125,066 million
There is your entire Continents GDP 1/3 of the US. Quantify your words
Minethis1 2 months ago
@orionstarman Lowered sales in US does not mean that Increased sales in Ecuador or (the entire Continent for that matter) makes up the difference. This is why I say that you speak in vague meaningless words. Than you think I am being a smart ass.NO I am being Honest.
Words like "Sales" "Up" "Down" Mean Nothing! A 10% reduction in US with a 10% increase in all of South America are two VASTLY Different meanings when Quantify. China has problems going forward.
Minethis1 2 months ago
@Minethis1 Spam!
orionstarman 2 months ago
@Minethis1 Did you miss the part of the article that said that China's exports were UP over last year or was it that it just didn't fit you argument? And I'll quantify more if you strawman less.
orionstarman 2 months ago
@orionstarman Last year? O OKAY! It didn't say Next year right? I didn't think so. OKAY well if they were up last year than it's all good than! Smart thinking!
You sir have a fetish with the past. I told you that before didn't I? Well it's okay I say it to you again!
Minethis1 2 months ago
@Minethis1 Hey man, it was in the article that YOU quoted "The country's total exports, however, were still up 15.9%, thanks in part to booming demand from Latin America." Exports up 15.9% YOY how much were our exports up YOY? If u don't want people to call u on it than don't bring it up. "fetish with the past" yeah just like that book I told u about. Man they sure did use a lot of big fancy words in the olden days didn't they. Oh, that right you didn't bother looking at it did you
orionstarman 2 months ago
@orionstarman WHAT Are you calling me out on you Dumb ass? Are you reading your own posts or not? Who Cares What the article said about last year? Tell me What Does that matter? The Point is Exports to the West are going down IN THE FUTURE! The FUTURE IS WHAT WE CARE ABOUT MEATHEAD! Sitting there talking shit as if it means something! QUote me what exports were in 1968 why don' t you. Call me out on that! You Are dismissed! My fault for paying any attention to you!
Minethis1 2 months ago
@Minethis1 You don't even remember the point you were trying to make in your original post. "Didn't PS say you all should be investing in China because they got it right and we don't? Didn't PS say That China will Decouple from the US?" China's exports UP overall, 15.9% THIS YEAR, while exporting less to the US. Your own fucking words dumb ass! You only brought up "FUTURE" after you got called out. Dismissed? I don't think so.
orionstarman 2 months ago
@orionstarman You Dumb ass! Don't try to twist words to whatever you want them to mean QUANTIFY! For 3 THREE Fucken Years China has underperformed the US SPX! MAKING PS WRONG! China DID NOT DECOUPLE FROM THE US! In My Other Post I said "I hope China Doesn't have a Hard Landing! BUT I DOUBT IT!" Now Your sitting here telling me That 15% YOY Growth! Which Means DICK! What is the Market Doing? UNDER PERFORMING! Schiff is Wrong AGAIN!
Minethis1 2 months ago
@Minethis1 Took you Long enough to figure out this guy is a Moron!
XESTISS 2 months ago
@XESTISS You will soon find out who the biggest moron is.
TWSceptic 2 months ago
@TWSceptic At Least you admit that you are the MORON! TODAY!!! hahahahahahah what a shithead!
XESTISS 2 months ago
@XESTISS You are completely retarded, I have no other word for it. The funny thing is that you will be pwnd in 2012 and we will all laugh at you. FUCKTARD.
TWSceptic 2 months ago
@TWSceptic I thought I was going to be Pwnd in 2001,02,-3,04,05,06,07, definitely in 08,09, no longer than 10,11 now its 2012?? YOU DIZZY MF! YOUR CLUELESS!
XESTISS 2 months ago
Comment removed
invisiblered 2 months ago in playlist More videos from SchiffReport
@Minethis1 lol, you "quantify" in dollars, dollar valuation can easily become meaningless if the us gov. inflates the currency to a point that the creditors, like china, will no longer take, as soon as china decouples their currency from the dollar,the monetary value of their trade with south american countries will be assessed relative to each others currencies, and that will be seen through trade of real wealth(production), not paper and code,which the us thinks is actual value,lol
invisiblered 2 months ago in playlist More videos from SchiffReport
@invisiblered LOL Your Right! Thats why You need to move your Family to a True Austrian Libertarian country like RWANDA! Limited Gov, No FED, No TOO BIG TO FAIL, No Labor Laws, No Min Wage, No Welfare State, No FIAT Bartering is common Place, No WallStreet, No License for your Neighbor to Plunder your Wealth! If he Even Looks like he is thinking about it. Take a Machete to him! No Questions asked! FREEDOM! RWANDA! Everything you want! For the Real Austrian economic Libertarian!!
Minethis1 2 months ago
@Minethis1 RWANDA! LOL! Too funny! Makes sense though! I guess thats why its funny! hehehe!
XESTISS 2 months ago
@Minethis1 I spoke directly from the article that you quoted. Don't cherry pick the parts that fit your argument and ignore the parts that don't
orionstarman 2 months ago
@orionstarman Cherry Pick? Who Cares what sales did last year? NO ONE! We Care about Next year! And the One After that!
Again You speak with vague unquantifiable words! 4th time I am telling you this! Tell me what Sales were in 2003 and see if I care.
Minethis1 2 months ago
@Minethis1 That was up 15.9% THIS YEAR. As in RIGHT NOW. Cherry Pick!!! Yes!!! Thats exactly what you did. The words I used came right from the SAME ARTICLE that YOU quoted!!! YOU quoted the part that fit YOUR argument and IGNORED the part that didn't. Or maybe u just didn't read past the headline. Next time read the whole damn thing before u start quoting and u won't get bit on the ass.
orionstarman 2 months ago
@orionstarman DO YOU KNOW WHAT THE WORD 'FUTURE" MEANS? LOOK IT UP!
"China warns of 'SEVERE challenges' to exports to West"
Severe when? TELL Me WHEN WILL IT BE SEVERE??? TODAY? LAST YEAR? WHEN YOU FUCKHEAD!
Minethis1 2 months ago
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Minethis1,
Savings produce nothing? You do know how a bank works, right?
212hard 2 months ago
@212hard Thank You! You just proved my point! That savings must be lend out and consumed! Not just sit there in the bank producing nothing! As much as you want to disagree with me you can't by your own words! Too funny!
Minethis1 2 months ago
@Minethis1
Banks do not lend out their deposits dollar for dollar. They lend off of a reserve ratio. Without money "sitting in banks," they cannot lend.
212hard 2 months ago
@212hard And your point is? if you loaned to 10 homes and their value drop 15% that 10% you have in is GONE! Thats why the Fed Stepped in and Backed that 10% in some cases a lot more than that. To keep them solvent till they restructured and raised capital. So whats your point?
Minethis1 2 months ago
@Minethis1 The problem is that the homes were never really worth that. The cheap-to-free money that was being generated by low interest rates was causing house prices to skyrocket...and the markets still haven't been allowed to correct themselves. We're keeping housing prices artificially high...despite the fact that the economy can't support those prices anymore.
TheNickFox 3 weeks ago
@212hard Next time before you come pounding your chest. Take a moment and think. Quantify the words that were written. If you don't understand it or have a better solution THAN speak up! Otherwise leave it alone.
Minethis1 2 months ago
Your emphasis on the trade deficit and consumption of imports seems ignorant of the fact when people buy the things they want, no matter who makes them, no matter from where, at a the best price, it enriches them. These foreign exporters have to do something with the dollars we send them, either buying from or investing in US companies.
DavidCaddock 2 months ago
@DavidCaddock Yes thats just what WallStreet wants. Our high paying wealth creating jobs go overseas and the money comes back to WallStreet bankers. And the American middle class takes another step down the ladder to the third wrold.
orionstarman 2 months ago
@orionstarman WallStreet another Bogie men argument that is not Quantifiable. Vague meaningless words! NO Country in the World with a Population of 300 mil or more has a stronger Middle & Poor class in the World! We are the 1% of the World my man! This is a FACT! Quantifiable words! You can cry cream bitch moan and crete all the bogie men in the world! It ill not change this FACT! You are just an uneducated greedy, bitter person trying to make others feel the same. Sorry UR wrong!
Minethis1 2 months ago
@Minethis1 I guess you have not been paying attention to the news for the last 4 years. Yes we do have strong middle class and our, so called poor, are very rich compared to the poor of the rest of the world but that is changing as real income, adjusted for inflation, has been going down not up for some time now.
orionstarman 2 months ago
Of course it is another bailout with printed money, that is all Bernanke knows how to do..
pismo10 2 months ago
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Enjoy the FREE opportunity to change your life.
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MultiAhka 2 months ago
I dig the music at the end Mr. Schiff. Thanks for the report.
stuzapusa 2 months ago
Peter's face is really creeping me out. I think I'm going to have nightmares.
intrigid 2 months ago
@siftyfour hahhahah look how pissed people r getting. i think people should b worried about not having a sense of humour
chrisMcG17 2 months ago
@winnah2314 youtube (google) re-compresses everything uploaded, so blame them, not Peter.
ostralopithicus 2 months ago
@ostralopithicus The trick is to upload videos that have the least compression possible, so that when YouTube recompresses it, it has enough information to work with. The artifacts viewable here are the result of uploading a video that had too much compression already applied. The artifacts were 'not' visible in Peter's original video, I am sure, but the recompression at YouTube created them due to the high amount of pre-existing compression.
Panpiper 2 months ago
@ostralopithicus It's not youtube, or Peter im pissed off with. It's the people that think that anyone that has a brain or does well is some shape shifting lizard. It is beyond the realm of reality in my opinion (and yes i've looked at all the David Icke stuff) and I just don't believe it. It's nothing to do with the fact of what happens, I couldn't care if the video is distorted for a second, it's the fact that everyone thinks he is a lizard if it happens just irritates me.
winnah2314 2 months ago
Peter the labor force dropped from 64.2 to 64.0....i think you said 74 by mistake
longtrader782 2 months ago
Expose Reptillian media control agenda , vote yes in the political debates.
1316wmed 2 months ago
kill 'em all.
unemployment rate 0%.
WGS669 2 months ago
Will a recession in Europe and China lead to LOWER PM prices in the short-term? I find Peter to be largely right overall, but mitigating factors enter into play and can delay the macro trends. If Europe and China slow down, silver in particular could be restrained by lower industrial use, at least in the short-term until its monetary value flares up again. Also, gold could continue consolidating its big gains and even lose if the dollar strengthens in the face of Euro weakness. Thoughts??
dmger14 2 months ago
Top comments are about reptilians? lol Everyone knows real reptilians would never show their true form.....
LOL
Equity213 2 months ago
Who still believes in government supplied numbers? We have been at 20% unemployment for years not 9%. They make up these numbers just like presidential polls.
cchessmaster 2 months ago 19
@cchessmaster Gotta love the U-3 standard, right?
adamantiumknot 2 months ago
@cchessmaster Whoa what a surprise another conspirator... proof or gtfo
OddRobb 2 months ago
LMAO....OH NO PETER NOT YOU......TY
daddy69plus4 2 months ago
THANKS FOR THE GREAT NEWS PETE
AUgustusDeLaVega 2 months ago
Marc Faber is the legend
blythebaby777 2 months ago
SHAPE SCHIFFTING
Riddlerx333x 2 months ago 2
He frogot to mention the 300,000 people that stopped looking for work...or there benefits ran out
rollinglibs1012 2 months ago
Debt plus inflation-doesnt lead to wealth creation, but it does lead to wealth destruction.
stockmarketfreak 2 months ago
I wish Peter replies to the reptilian comments, it's actually nice to laugh about it for a change!
RicoBoudreau 2 months ago 2
When I was even more a newbie to gold theory than I am now, I mentioned to my class of economics that owning gold and silver during economic downturn was a safe way to invest your money. Everyone just looked at me in wonder as if I was an old citizen coming back from the middle-age. Even my professor only acknowledge that ETFs were options, but I could tell he had never TAUGHT about gold-ownership. This be might an old instinct to protect ourselves with real value, but it's still wise
RicoBoudreau 2 months ago
Sooo... Are we ever going to collapse or not? I'm waiting patiently for it to happen... LETS GO!!!
2010Jakeypoo 2 months ago
@2010Jakeypoo It'd be kinda nice if the crash would wait until I had my chemical engineering degree so that I have some wealth to actually protect.
9Mystere9 2 months ago
The specialists raising the market sharply higher is akin to the executioner raising the guillotine...the sheep are ready for slaughter...yet again....
auctionmusic 2 months ago
What is "value"? where does it come from? Value derives from combination of faith and desire.
HillTribeman 2 months ago
It's visual tourettes.
Downfacingdog 2 months ago
This man is the most truthful. prophetic financial analyst we have today. Relentless logic and insight.
flavurs 2 months ago in playlist Uploaded videos
A Klingon who knows his stuff
RichNel1 2 months ago
Year over year change in M1 is over 20%.
pirucreek 2 months ago
Peter Schiff is a reptilian too? Aww man, hahaha
leec85 2 months ago
Like Makeup on the Pig!
outbackautomotive 2 months ago
creates the new term SHAPE SCHIFFING! ^_^
Riddlerx333x 2 months ago
1 First off Swaps are inter bank derivative instruments . Unless we all started using swaps tomorrow there can't be any monetary inflation because of this action. So I am forced to throw the Bullshit Flag on that!
2. There goes PS calling the EZ collapse a Success again! Sigh! If your Stupid enough to believe that I don't know what to tell you.
3. If Gov cuts spending now that will shrink the money supply further and more jobs will be lost helping the collapse along very nicely! Bravo!
Minethis1 2 months ago
Comment removed
AntixSchiTTxreport 2 months ago
@Minethis1 ur understanding of the monetary needs to improve
AntixSchiTTxreport 2 months ago
11. To say remove the efficient machine and replace it with people to show manufacturing jobs have increased is utterly STUPID! We don't need to waste human capital making Casio Digital watches with calculators for $7.25 per hour.It's better to give those jobs to "Booming" economies that earn .17 cents an hour! Not hard to figure this one out!
12. To downplay and suggest that the entire worlds investors are all dumb for buying up the DOW 500 points is definitely arrogant and stupid.
Minethis1 2 months ago
@Minethis1 All I see is more hypothetical bull shit...Do you really believe what you say? Is there something wrong with you?
june372 2 months ago
@june372 What is hypothetical? Explain.
Minethis1 2 months ago
@Minethis1 do u understand what a trade deficit means?
AntixSchiTTxreport 2 months ago
@AntixSchiTTxreport Yes I do thanks for asking. Do you know what a Balance Sheet recession is? Do you Understand that Savings can only come through spending? Do you understand that everyone benefits from inflation since Fixed Debt becomes a smaller and smaller part of total income? Do you understand in deflation that debt becomes a bigger part of income? Do you understand you measure purchasing power in total income instead of a per $ basis? You really need to learn a lot!
Minethis1 2 months ago
@Minethis1 Excuse, could you explain to me how the heck does savings come from spending?? How does everyone benefits from Inflation?? . Savings is another form of spending. The person who saves money in bank, allows to have real loanable funds for another person to borrow and expand in a capital investment or in an entrepreneurial venture. Also the person who saves more has more ability to spend and consume in the future as well as to invest and create wealth, driving economic growth.
jaimepanama 2 months ago
@jaimepanama I swear you people are like parakeets repeating PS crap without quantifying what you are repeating. Sigh!
1. If I do not come into your store and buy something how can you have an income to pay for fixed cost, hire, pay down debt, have discretionary income and than save? You can't! IMPOSSIBLE! If you don't have money you can't buy in MY STORE! Same would apply to me if you didn't spend! if you save and I save no investment can be made! B/c No one is consuming!
Minethis1 2 months ago
@jaimepanama 2. by your own words you say that savings must be spend in "entrepreneurial venture" "Spend to borrow" LOL. They are not savings anymore are they? NO! Even if you spend the savings to invest in a new store to sell things Who the F$*k is going to buy if everyone is saving? No one! What will happen to your investment? Go to ZERO! So you see by your own words you prove and agree with me that Savings and investment can only come from Consumption! PS is 100% Wrong! Quantify!
Minethis1 2 months ago
@Minethis1 Thanks for your answer. You present here a condition in which everybody is saving at the same time and at the same rate, this is not what I meant. I agree with you, that savings ultimately leads to spending, but it's not the other way around, this is why I'm arguing. I mean, how is it that savings and investment come from consumption? How can you spend if you don't have anything saved in the bank?
jaimepanama 2 months ago
@jaimepanama Lets make a small economy together. You have Food. I have Water. 1 shell is our currency. I come to you and Give you 1 shell for 1 pound of food. You now have the Shell and come to me and buy 1 Gal of fresh water. You drink half of it & save the rest. Next day I am hungry but I don't have a shell so I have to wait for you to spend it so I can eat. Other wise I starve. You saved Water. I didn't. You also kept the Shell. The transaction Shell comes 1st. Part 2
Minethis1 2 months ago
@jaimepanama PT2 You see no matter how much Water I produce without the Shell It is Worthless! Because I need Food. To get the Food you MUST Spend it first. Initially You appear smarter because you saved 1/2 Gal of water (wealth) but if I die from hunger Your water will run out your shell will be worthless and die shortly there after from thirst. But! If we keep the exchange of the shell going (velocity) We can both save food and water over time. Remember this is 1 shell doing it all.
Minethis1 2 months ago
Comment removed
Minethis1 2 months ago
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@jaimepanama Part 3 So you see the Shell has no value. Wealth is Food and Water. The shell is only a medium of exchange. I can't eat it, Drive it, drink it and makes absolutely nothing. Its value is you and I and our food and water. Even if we introduce another Shell into our economy we would require 2 shells to buy 1 pound of food or Gal of water. There is no value lost. Just more shells. Without the extra shell in circulation we would still only use 1. shell No inflation. Part 4
Minethis1 2 months ago
@Minethis1 Part 4 So even though another shell exist on reserve if it is not in circulation there can never be inflation. One of us needs to have it first. The moment you and I have it price automatically jumps to 2 shells per Pound and Gal. No value lost we measure total shells in our pockets. Not how much each shell is worth. Because cumulative they still buy the same thing that we bought with 1 shell. If we stop spending and consuming economy goes to Zero no matter how much F or W
Minethis1 2 months ago
@Minethis1 But now each person has to some how come up with an extra shell to buy what once cost only 1 shell. Why do you always deal with absolutes? 100% of the people don't completely stop spending. People still have to eat. Even during the 1930's there were companies that were doing very well, P&G for one.
orionstarman 2 months ago
@Minethis1 Because even when you get a credit card, or a loan, the banks look at your credit and your bank savings for liquidity.
jaimepanama 2 months ago
@jaimepanama Yes they look at Credit in a snap shot in time. You see if you lose your job the next day they don't know that. If you go and blow your savings in a casino Bank doesn't know that. When you want to buy a house everyone saves their ass off to show they have cash on hand. The minute people sign the savings gets blown out. lol
Minethis1 2 months ago
@Minethis1 You assume that 100% of people are not spending so your strawman argument is total BS.
orionstarman 2 months ago
@orionstarman Thats what you are saying we all need to save more. Why don't you Quantify for me how much money we should have in the corner taking up space producing nothing. I love to hear it.
Minethis1 2 months ago
This has been flagged as spam show
@Minethis1 " Why don't you Quantify for me how much money we should have in the corner taking up space producing nothing."
Why do you think Saving is meaningless? There are 3 outcomes of my Saving..
(1) I spend it. Local business benefits from this.
(2) I just save it in the bank. It forms the capital someone else needs.
(3) I invest it, buy equities, bonds...etc. Some business out there benefits from this.
Saving is the root of all economic activities.
joechien0218 2 months ago
@Minethis1
Americans are taught that consumption leads to economic growth. This is true ONLY when money is spent responsibly. Unfortunately, Americans way over-consume, and everyone's in debt. Most household has the mortgage bill, auto bill, credit card debt, maybe some student loan from decade ago...etc.
Remember when one over-consumes, you are ONLY helping the big business like walmart grow, but not yourself.
joechien0218 2 months ago
@joechien0218 Yes very true we are taught to consume rightfully so BUT that does not mean that things don't go too far sometimes. Lets not go to the other extreme because if we do we will collapse ala EZ style. Not bc we don't have the Assets to back it up. But because we chose to limit our liquidity. Stupid really. US assets are 57 Trillion with 15 trillion of debt and we default lol. Because we wanted to be little savers all the sudden. Insane really.
Minethis1 2 months ago
@Minethis1 You save as much or little as you can or want its up to you and why should I put my savings in a corner. There is nothing wrong in looking for a return on your savings.
orionstarman 2 months ago
@Minethis1 Also, inflation does not benefit everybody... in fact it only benefits the special interest groups, such as the federal government, stock market, wall street banksters. How is the regular person or the consumer served by having their value of their savings and the value of the currency diminished. Yes, inflation can make current debt burden lower, because that debt is fixed, but for sure it cannot make current consumption and capital investments or entrepreneurial ventures easier.
jaimepanama 2 months ago
@jaimepanama Of course inflation helps everyone. Today we all have fixed debt! If your income is $1000 and the fixed debt is $500 a debt to income ratio of 50% through inflation of 3% in ten years $1343.92 Your debt is still $500 per month. Debt to Income ratio is 37.2%. How about deflation? The opposite is true! $1000 deflated 3% for 10 yrs = $737 The fixed debt is still $500 debt to income ratio is 67%. So you tell me do we all benefit from inflation or Not? Sigh!
Minethis1 2 months ago
@Minethis1 ya and see thats problem is that people like u think DEBT is a good thing, what about when u retire or when u have savings?
I didnt realize DEBT was a good thing!!!!
AntixSchiTTxreport 2 months ago
@AntixSchiTTxreport Of course debt is a good thing. It takes dead money and turns it into something productive. Go put a bunch of $'s in a corner in your house and let it sit there till you retire and tell me how many Stores, Factories, skyscrapers, Oil, copper, steel, Jobs, homes, cars, Ipads, Smart phones, Airplanes, Ships, food, Beers, Dildos, blow up doles it produced! NOTHING! It PRODUCES NOTHING! Only through Credit and debt can we make that money produce anything!!!
Minethis1 2 months ago
@Minethis1 But why are you assuming that the money itself should produce anything? It's the people who produce things.
TheKryan 2 months ago
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Minethis1 2 months ago
@TheKryan O Boy! A Currency "defines" value in a point of time. If people can't value what they are producing what is the point? A currency is a lubricant of an economy Not the "Value" of an economy. In other words it Only defines value not produces it. Therefore it must have velocity and be liquid not stagnant! PS & all that believe his crap think Money is wealth! Value can only be forced by limiting the supply in circulation at the expense of destroying an economy eventually no Eco!
Minethis1 2 months ago
@Minethis1 My response was meant to be addressed to AntixSchiTTxreport when he said that debt is good and "Only through Credit and debt can we make that money produce anything!!!". I wrote your nick by accident and I agree with what you just wrote about currency :)
TheKryan 2 months ago
@TheKryan Oh! :P Nice to see someone educated that can explain this to these people as well. Because it is a dam shame for PS to BS these everyday people who are small business owners, Dr. Bus drivers, Plumbers etc. to scare and fool them into buying his certificate of Gold ownership in Perth Australia in exchange for their hard earned money That PS says is "worthless" pieces of paper! Sigh! Right now they are not hurt but eventually they will be. Everything he says is ass backwards!
Minethis1 2 months ago
@Minethis1 ok keep on thinkin that
AntixSchiTTxreport 2 months ago
@AntixSchiTTxreport This is a fact. This is not what I think. Money only defines wealth in point of time. Why point in time? Because population, productive output, Efficiency all grow over time and the money supply MUST grow with it. Otherwise you get monetary deflation and can't properly measure the value of things. If there was 1 $ and 1 widget the value is $1. what if i produced 2 widgets? now they are valued at .50 cents! more I make the less it's valued! So I make less.
Minethis1 2 months ago
@Minethis1 Debt used by business to buy capital goods that will return more in profits than the cost of the debt is good. Debt used to buy throw away consumer goods is bad. Debt used to bail out WallStreet speculators that create nothing is really bad.
orionstarman 2 months ago
@orionstarman 1 If people do not consume Cellphones because they will throw them away there will never be any need for innovation would there? In Fact there would never have been cell phones to begin with! Or Computers, Or Cars, or Music, or Movies, or Stereos, Or sneakers, etc We would only have Tables, chairs Horses buggies etc. Without Wall street there would be no funding for new innovative companies. Apple Google Intel, Microsoft, HP etc. Unreal!
Minethis1 2 months ago
@Minethis1 Total BS. Some people will buy a thing and use it until they can't anymore and others always want the latest and greatest and the rest of us are somewhere inbetween.
orionstarman 2 months ago
@Minethis1 Inflation only helps those who get the to use the new money first like the WallStreet bankers and the gov. Those of us who have no debt only see our savings devalued. And how about deflation? This country had steady deflation for the 100 most productive years of our history.
orionstarman 2 months ago
@orionstarman Deflation for 100 years? Dude What are you smoking? Population and economic growth has been growing exponentially so has the money supply accordingly! If it Didn't we would look like countries in Africa! WTF Are you talking about Michele Bachmann? We are just going to start making shit up as we go now? look dude you have LOST ALL CREDITABILITY and i will stop responding to your crazy posts. Enjoy talking to your self Michele Bachmann!
Minethis1 2 months ago
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212hard 2 months ago
@Minethis1 Look it up dude. There was a slow but steady price deflation for most of the 19th century and into the 20th as innovation and productivity increased to lower the cost to producers. I can't stand Bachmann. And Keynesianism has never had any creditability.
orionstarman 2 months ago
@Minethis1 Thanks, It is true that inflation benefits everyone under this scenario when there is too much fixed debt and incomes are stagnant. But I have learned that inflation devalues the currency, and raises prices and commodities. So, fixed debt burden is eased, but what about current and future consumption when prices rise? can you please explain to me? Again, I am really not trying to offend you or treat you as an idiot, clearly you prove that you are very smart.
jaimepanama 2 months ago
@jaimepanama I feel bad that you even have to say you don't mean to offend. Should not be like that. A few post on good question that is not black and white. So here we go.
1. When Interest rates drop commodities rise in anticipation of economic growth. Remember this Growth pricing is NOT dependent on the US economy but rather the GLOBAL economy.
ie Emerging markets, China India, Brazil etc consumption This has nothing to do with the Dollar. Part 2
Minethis1 2 months ago
@Minethis1 Don't feel bad, I said not offend you because you called me a parakeet lol. This is very true that the world is very connected and the global economy dictates prices rather than just a local economy. You say that the rise in commodities is an anticipation to economic growth and point out emerging economies like brazil and india. Also, you mention that it has nothing to do with the dollar, even though the dollar is the reserve currency of the world and central banks hold dollar.
jaimepanama 2 months ago
@Minethis1 I meant to add a ? after my last statement lol
jaimepanama 2 months ago
@jaimepanama Part 2
2. Imagine you are a money manager. People pay you to invest their $'s Bilions. You have the Following options
Stocks, Commodities, Real estate, Currency, Bonds. Cash is not an Option for a full position. If you overweight the Small Commodities market Prices will rise rapidly causing inflation in that area. Not because of the weak $ but rather reallocation of assets away from risky assets (Stocks). people will always need food. PM are fear indicators. Part 3
Minethis1 2 months ago
@jaimepanama Part 3 The DX the real measure of Dollar purchasing power is at .80. Does it go to above and below these areas? Sure But remember Purchasing Power is relative to other Currencies. Apples to Apples comparison. Today the DX is at the same Value it was before we Printed in 2008. But Gold has been climbing for 10 years What Gives? Remember we are in a Global Eco. look At China Printing 17% clip or doubling their TOTAL money supply once every 40 or so Months for TEN YEARS! hm
Minethis1 2 months ago
@jaimepanama If China has been printing their ass off why are they not Hyper Inflating? Because printing does not CAUSE! Hyper inflation. B/c It is a RESULT NOT a CAUSE. Inability to Tax, regime change, losing a huge component of the productive output, liabilities exceeding Assets, NOT PRINTING and causing all debt to come due as bonds implode is what causes Hyper inflation. Not Printing! So where did all those printed RMB go? Part 5
Minethis1 2 months ago
@jaimepanama Part 5 all those RMB's rapidly flooded the World bond markets causing yields to drop dramatically. This Cheap Money caused Debt to rise and fueled the the housing and Emerging market investments and Boom! Consumption of "Commodities" naturally Rose as did Prices. Globally! Banks became more interconnected Globally Derivatives were King and The Growth rate became unsustainable! the slightest reduction in Growth would send the World into a Rapid Deflationary Spiral! Part 6
Minethis1 2 months ago
@jaimepanama Part 6 The first sign was the Financial Lock Up of 2008 where no one knew what was worth what and who owned the worst assets So the Market priced all Derivatives to ZERO!. Trust Between Banks went to ZERO! Everything Froze as everyone didn't know what to do next. Insurances co are not Designed for All Out Collapse! Where would the money to unlock come from? if it didn;t come Pay checks would not go out people take runs on banks Business could not pay for Inventory etc Pt7
Minethis1 2 months ago
@jaimepanama Which Now Brings me Back to Dollar devaluation. With out the Fed back stopping and Unfreezing the banking system No currency in the world would be worth anything! If the money already existed and credit contracted or lost 10% and the Fed replaced that 10% is that expansion? No its not.B/c he did not ADD an extra 10% of $ to what already existed. He Only replaced it and in exchange he avoided an all out Collapse! Thats why the DX never went to .50 that PS claimed! Part 8
Minethis1 2 months ago
@jaimepanama Part 8 Lets do a simple exercises Take every single $ in the US and that is owned by every single Country, Company, and person worldwide! Add in Every single $ in available credit for Every Country, Company and Person Worldwide since we are the Worlds reserve currency.Now Divide that Number by what the FED printed and tell me what % did we really devalue the Dollar?? It's a laughable 3% Maximum! OUU! Even if the FED didn't replace the lost credit and added it. Part 8
Minethis1 2 months ago
@jaimepanama Part 9 3% is nothing. in Fact Population growth has already consumed most of that amount already. Imagine when the worlds productive output starts increasing again when we recover. We are going to need to Print more just to keep up and avoid monetary deflation. Despite the fact that inflation will cause interest rates to rise which contracts the Money supply.As you know we got room to raise lol! lastly Part 10
Minethis1 2 months ago
@jaimepanama Part 10 1. EZ must print what is required, forget Austerity and stimulate ASAP! EZ is the Worlds 2nd largest Economy and 22% of our total export not to mention the debt we Hold. 2. We need time to recover, Housing to bottom, Healthy consumption, 3% Inflation to help lower fixed debt, Keep the $ relatively weak .75 to .80 to keep exports up, Slow gradual debt reduction, 3 to 5% savings and relatively low rates. 3. Hope that China doesn't have a Hard landing which I doubt!
Minethis1 2 months ago
@Minethis1 BBC News says that China has been working hard since last Oct. fight inflation and it has gone down for the last three months. If you believe their data. They are tightening monetary policy, raising interest rates and reserve requirements. So China seems to think that inflation is a bigger problem than you think it is.
orionstarman 2 months ago
@jaimepanama Dude don't listen Minethis1 or anyone else that advocates the same kind of failed economic policies that he does. The FED and the Gov have been using his kind of thinking for the last 50+ years and thats whats got us into this mess. In the last 3.5yr the Gov handed WS $4trillion up front and the FED handed them another $7.7 trillion around the back. If those policies worked the economy should be growing like crazy right now and its not. We've only made things worse.
orionstarman 2 months ago
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Minethis1 2 months ago
@jaimepanama First off I have already quantified this in great detail in previous posts. Please go back and read it. I will tell you this if it makes your fixed debt cheaper you benefit! 2. Money is NOT wealth who ever told you that should be SHOT DEAD! 3. inflation does not devalue "your total income" Which is the true measure of purchasing power. NOT ON A PER $ BASIS! DX /80 I have write extensively on these subjects as well. You disagree w me? No problem Just sit back & Watch EZ.
Minethis1 2 months ago
@Minethis1 I learned all of this by reading Henry Hazlitt's book economics in one lesson. I don't mean to offend you or anything, I just want your answers!
jaimepanama 2 months ago
@jaimepanama Henry Hazlitt Was a Pothead that's why he believed the voodoo economics and flying unicorns! Like I said before all Classes benefit from inflation which even by his words proves what I am saying.
Stop looking for answers in the past and come to the 21st century. Unlike the past today we truly have a fast paced electronic Global economy that is FIAT and DEBT based. Prices are set by the global economy not the local economies. This is a vastly different animal.
Minethis1 2 months ago
@Minethis1 And you believe in skittle shitting unicorns, that we can just borrow and spend forever with never a price to pay. Come to the 21st century, yeah right, every day we get closer to total economic destruction because of people who think like you. And what the hell is wrong with pot anyway?
orionstarman 2 months ago
@orionstarman Nothing wrong with Pot! You just can't be pretending you that the flying unicorns are real. Savings produces nothing! I have proved that fact over and over again. I will do it one more time for you. Take your savings and put it in a corner. When you retire come back and tell me how many factories, stores, homes, Jobs, cars food, beers, Dildos, blow up doles have they produced in the corner. NONE ZERO! It is worthless! Money only defines wealth in a point in time!
Minethis1 2 months ago
@Minethis1 You have only proved it to yourself. Who said anything about putting savings in a corner? Of course you look for a return on your savings. The problem is the fractional reserve lending [or speculating] that the banks do.
orionstarman 2 months ago
@Minethis1 well I guess u clearly dont understand that as government gets more involved it results in a lower GDP output per civlian resulting in a larger trade deficit!!!
AntixSchiTTxreport 2 months ago
@AntixSchiTTxreport I don't understand the Trade deficit? Wrong! You don't understand it. Lets quantify your words. If you want to have a trade surplus all you have to do is give up everything you own (House, BMW, Granite tops, smart phone, 60% of your food consumption, pool, medical insurance, 401k etc) Lower your income BELOW $5000 a YEAR and compete with China, Bangladesh, Vietnam etc.Trade deficit problem FIXED! Let's just destroy 90% of GDP. Get used to Daddy I'm hungry
Minethis1 2 months ago
@AntixSchiTTxreport Let me ask you something. Would you rather we consumed our own Oil or Get it from the Middle east in exchange for little pieces of paper with our presidents on it that we can print up all day long and keep our oil? Do you know how much of those little pieces of paper are reinvested back into the US economy? What would happen to our trade deficit when we stop using their resources after they are depleted and we still have ours? but the Gov is Bad & stupid right???
Minethis1 2 months ago
@Minethis1 We already run huge trade deficits. but besides that point, what happens when other countries stop accepting our "dollars we can print all day long" bc they realize they are iou's that they will never be able to redeem bc we dont make anything except dollar bills in the US?
So, yes! the government and anyone who thinks this is good economic policy is extremely short sided and very stupid.
jlay3000 2 months ago
@jlay3000 Come on now! This is PS garbage you are repeating. What will happen if a whale eats you up in the middle of Time square? Than what? Who is going to sell the $? China? Please quantify for me how many $ China owns? get back to me.
Of course we are running a deficit we are in a Recession! What do you expect? A surplus? Would we expect a Surplus to continue forever in the 90's? No just like we will not have a deficit forever. This is what is very short sighted and stupid! Part 2
Minethis1 2 months ago
@jlay3000 We don't produce anything? What? We produce Human intellectual capital, innovation, efficiency, Jobs for the world and investment in emerging markets world wide. Do not confuse efficiency with lack of production! If we removed an efficient machine that did the work of 100 men would we not create jobs? Yes would the cost of production not go up? Yes! Would Income not go down? Yes! Would that not take human capital away from new more productive innovative projects? YES! Crazy!
Minethis1 2 months ago
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Minethis1 2 months ago
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Minethis1 2 months ago
@jlay3000 Part 3 IOU's is taking savings and making it work for you. Savings sitting in a bank produces NOTHING! If the Chinese knew what to do with their savings would they be giving it to us? NO! So they give it to us for a Whopping 1.9% so we can create jobs for them Who benefits? We do! because we produce 5 to10% Return on their 1.9%! Where do you think all that 3.7 Trillion on American co balance sheet come from? Why are Emerging markets collapsing without our investment? Sigh!
Minethis1 2 months ago