I want inflation. Inflation will allow people to pay down credit cards and home mortgages. I also want the currency to devalue. We need to start making things in the us. A devaluing of us money would force that. Time to start living on less than we make.
The rich are simply hoarding. Taking their ball and bat home and pouting. They can afford to sit back and watch everything go to Hell for three more years or more easily. They never had to work really. Sure - some bought companies, but the big BIG ass wealth is all blood money.
Maybe they did have to work,and not sleep doing homework for a good life.What youre saying is people who didnt do anything,should go and take the people with more moneys money and split it.
wow youtube suck's they delete my comment..you are an individual who has common sense...yes the gov't is NOT LISTENING TOO THE PEOPLE....EVENTUALY...THEY ..WILL...LISTEN TOO...U.S.A.
So basically the majority are losing the financial race while a bunch of rich people simply jacked the price up enough to cause the "economy to go up". The rich get richer while the majority get poorer. We can't possibly believe this.
This is what the "marketing" world is, and what it has and will always do. It's not a good thing to put a fucking price tag on everything. And sell people shit they don't need and surely could live without. There will always be people weak enough, not to think ahead far enough, fast enough. And people should not be aloud to profit on that. (or corporations either). Tell me it's not a problem.
You've been talking about the fact that perceived value can cause inflation without realizing that it's nothing new. Yet you seem to be convinced that you've made some big new discovery and you should be a senator. What a study in poltics this video is!
Political geeks like us may want politicians to speak the truth but nine out of ten prefers a politician who is positive on the US future - calling the US economy phony is not what people want to hear. Schiff probably will not come anywhere near the senate but as I said before; I hope I am wrong on this.
Trickle down is a fact of economic life, but you folks are getting caught up in the wrong thing to be mad about. Be mad about the fact that insider crony capitalism keeps happening under both major parties. And it happening worse than ever under the Obama administration. The salary reduction is just a dog & pony show to keep us peons amused while the financial raping continues.
Well than, a brilliant mind like yourself , should realize trickle down hasn't occured. Trickle out has, manufacturing has flooded, not trickled out of the country. How many jobs would have to be lost before you realize Regan and Kemp was wrong.
The current administration and the Democratic party are even more radical and more misguided than Keynes. Keynes said only to use deficit spending in recession and to store up surpluses in good years. The current majority believes in running perpetual deficits to fund a perpetual vote-buying welfare state scheme.
If USGov's fiscal policy was to all of a sudden reduce govt spending, raise interest rates, lower taxes, lower regulations, and become pro-business, then it would be time to celebrate some positive news.
Peter, I have been watching your videos for a year now and overall I find your logic sound and I appreciated your perspective and the information you provide.
There is one nagging downside of your diatribes though. You seem never to have anything positive to say? Do you only doom and destruction?
Surely, there must be something positive to give your audience.
its unfortunate but the Gov't appears to be running our economy into shit on purpose so there is no positivity coming out of this. he is simply stating the harsh truth that the TV refuses to admit. The TV acts like we are coming out of a recession..HA!
Real Estate is just too big of an investment to get wrong. I'd rather be a little late than early to that game if I'm walking in and buying a home. Then again, I am no fan of real estate anyway. If I could sell my house and rent it back for say 10-15 years, I would. Why? Because in my opinion it's overpriced for what it can bring in as an investment, and so the price will either come down, or it will continue to be a bad trade to the long side.
Republicans really are like the fascists, they don't care about the discriminatory policies of the ultra-nationalists and racial purists, they just want the trains to run on time.
he is right on about saving and the fake home prices and the economy. Honestly I can't see we have progressed much in 2 years if at all. Government run amuck -they should ashamed to say the least. Peter can't be a Senator soon enough.
But if you raise interest rates ALOT all those with debt which is alot, plus the governements loans will go up. You save the dollar but kill the people and government. I say let the dollar die, let them realise we need a gold backed currency.
The teabaggers aren't Republicans. In Mass, where everybody is essentially a socialist, they might be. And the Republicans sure would like to appropriate the momentum of people who actually believe in freedom - but they don't have much credibility. The left/right paradigm is meaningless. The freedom movement isn't partisan,
Ya gotta love how Peter ends his videos; "The government's gonna increase regulations, send our economy crashing into the center of the Earth, the Anti-Christ shall rise and commit mass genocide on all the children of Earth, the streets shall run red with rivers of blood and fire shall fall from the sky. Have a great weekend, folks!" Fuckin' A.
o Israel has killed Americans (eg. Sailors on USS Liberty, Rachel Corrie, etc...)
o Israel spies on this country (eg. Pollard, Kadish, AIPAC, etc...)
o Israel bought our politicians with our taxes.
o Israel steals our taxes, hence their higher income.
o Israel uses our country as their toilet.
Want more? Checkout my playlist.
Please share this post with others, and demand that your Senator and/or Representative uphold the laws when it comes to Israel's heinous crimes. Peace!
The only way to help the dollar would be to start burning them.
Less dollars in the world would help, but we need to stop trading with countries they kick our ass for labor rates, balanced trade, or better yet how about a trade deal that favored us for once?
Would you vote for someone who encourages investment in Asian Markets instead of their own country. Wow we are really desperate for Senators. I believe Washington is full of globalist now. Globalism is the enemy, is it really in Americas interest to vote for another globalist?
Sounds to me Louiethegreater, that you like what has been going on in America to date. I guess you should continue to vote for more of the same and like what you get in the end. If Peter can't save the country (which I believe he will fail miserably, but I hope I am wrong) at least he will save the portfolios of individual Americans and others who are wise enough to listen to him.
Good luck to you and the American Goldilocks economy :-)
I am against globalism, Peter is a Globalist. Washington is full of globalist. Why would you think he could, or would make a difference. I really don't understand how you got that understanding of my posts, maybe you should re-read them.
Speaking of misinterpreting posts Louie, you just did with my post. I just wrote to you that I think Peter will fail miserably. I do not think he will make a difference (on a large enough scale for it to matter I mean, not individually).
Your Globalist thing may be correct, but Peter is trying to turn the US around and he's trying to help individual Americans keep their wealth, so if the fundamentals mean they need to invest outside the US, then his job is to get it right for his people.
This isn't the only time I have heard Peter speak. Offshore investment is playing a major role in the distruction of our economy. When he incourages it, I personally consider that to be very, very unpatriotic. Individual Americans who need Peter to tell them how to invest their wealth, will not have their wealth for long. I think recent events should prove that. Kudlo, Cramer, all MSNBC has plenty of advice for the sheeple.
Hi Louie, I certainly understand that to some people (mostly the big flag-waiver American types) that Peters calls to NOT buy/invest American may indeed sound unpatriotic. The problem in my view here isn't with Peters sound investment advice, but in the Government run bastardization of what most people see as 'Patriotic'. I'll be honest with you,I don't give a rats ass what my politicians do to my country. My job is to take care of my own and at the same time not impede on the rights of others.
Peter doesn't encourage American investment because he knows what globaism is doing to the country. He does encourage laissez-faire, free trade which is the vehicle globalism is rideing on. If you don't care about the actions of those politicans, you will not be able to care for your family. Hard for me to understand the ignorance of folks who would consider him a viable candidate for the U.S. Senate. Hardly in the Ron Paul, Pat Buchanan, Ross Perot tradition.
Louie, you seem to have valid concerns and complaints, but you offer no alternative to those that would oppose Schiff's "globalism" as you call it. So if what you believe is people shouldn't vote for Schiff, who would you suggest they cast their vote for, and why? I hear Dodd is a real peach. Should they vote for more of the same "A", or more of the same "B"?
Or do you believe as most do (as per voter turn-out), that it doesn't matter because in the final analysis, there truly is no choice.
steve, You are totally right we have not had anyone to vote for in 50 years. Why our countrymen will not nominate a candidate like Ron Paul is can't understand. I know Chris Dodd is a globalist, owned by multinational corperations, folks only need one criteria when choosing a candidate. Are they a globalist, if they are we will get more of the same. Tell me do you have any concern that our entire manufacturing sector has been outsourced to cheap, third would, unregulated labor markets.
to define the current state of our economy as a truly free market or capitalistic in nature is ignorance beyond belief. currently 35-42% of our economy, depending on what source you look at, is either directly or indirectly tied to government spending and intervention...that is not free market capitalism! we continue to have economic problems because we are abandoning free market principles for socialistic policy. capitalism doesnt leave people starving in the streets, socialism does.
No it does not. Charity will always be there because people have compassion. It is more unfair to keep people dependent on government programs that help people feel like they are entitled to all things they want without working for it.
I was replying to birdiemd. Both models, capitalism and socialism can work well as long the people who implement it are non corrupt.I am from what you may call a "socialist"country(comparing to the USA that is)The standard of living is twice comparing to here, we don't have people living on the streets,and people are being treated with dignity. We pay 45 Euro/Year for health care, that covers everything, no questions asked when you break a leg. Our national debt 35 Euro/citizen. USA38/k/citizen
the world is more complicated than one nation's statistics. the size of population also makes a lot of factors different in terms of the scope of their impact and the difficulty of controlling them. corruption is one example. how you would even bother mentioning a system is ok while realizing corruption is an issue is beyond me. there's no example of big empires with complicated geography, population, and political system without corruption, in fact, that's how most empires collapse.
I don't see it being that complicated. The problem is not the few people on the top that are corrupt, the problem are the ignorant people who believe their lies and keep them in power (or the ones that are too afraid to speak up). This is how Hitler got into power, most germans adored him. He didn't got himself in power, the people did. So..yea maybe you are right after all, try to change the people, not an easy job
look blaming the ignorant is like blaming dog for bad eating habits. the capitalistic system punishes people for being ignorant and stupid, and government intervention provides no incentives for people to be smart because when things go badly, the government bails them out. "socialistic" is not a bad word per se, it's just that to execute its method, government support for ignorant people has to be the basis of any agenda it wishes to accomplish, it is a Fundamental flaw,
so it has nothing to do with the ideology that socialists are spewing, the method makes it impossible. and under the constitution, if a group of community decides to be socialists, they can do that. they just can't pass laws to interfere with other people. that's the fundamental difference between a free society which just inherently has to be capitalistic, and a socialistic society. and yes it's complicated but it's been solved. it's only too complicated for your simplistic approach.
no offense, nothing personal, i just get worked up whenever i talk about anything socialism related, because it just doesn't work in countries with, like i mentioned, complicated population ethnicity, economic class, geography etc etc.
forcing other people to take care of people by taxing other people does. there will always be people starving, that's not the question. also the united states used to be the greatest technology exporter to the world thanks to its freedom to innovate. places like taiwan where i come from with socialistic medicine program imports technology from united states all the time, they're freeloading. my uncle is a well known doctor in taiwan he has to come to the states everytime there's somethin new
what kind of rubbish are you talking about? Capitalism doesn't leave people in the streets? Poverty in the US is nearing 20%, meanwhile in a 'socialist' country like Sweden has next to none. but the truth is. Real socialism works. so does Real Capitalism. what doesn't work is the crony capitalism that's been going over here, and the corrupt socialist ideas of say, Soviet Russia or something. There IS more then one working way to govern, if you disagree i suggest reading a history book.
asphy you need to need economics or read ron paul's end the fed. it shouldn't be news any longer for even economic illiterates that what we had was called "corporatism", like michael moore himself admitted, not free market capitalism. to see moore's clip put michael moore, corporatism, capitalism in search. what we had for the past 100 years was a government becoming increasingly socialistic, and an ever more corporative market. both requires government interference. you alot more reading.
yeah i saying that in my last comment, we don't have free-market capitalism right now. Crony Capitalism is what we have. Bailouts to big banks, printing money. I'm a big Ron Paul fan and I've read about austrian economics, haha. I think perhaps you misunderstood me. I was merely pointing out that there are other models that work, pointing to Sweden's non-existent poverty as an example. Sorry about calling your other comment rubbish. that was rude of me.
Peter failed to mension, we should allow folks to starve in the streets, freeze in winter, murder each other for lack of food. That is true capitalism. Yea Lets Go For It. Theirs an extra buck in there somewhere.
UM I seem to remember alot more hungry people in socialist countries and alot more bread lines :( let us not forget the 60Mil killed in Mao's starvation
You're a complete moron who has obviously never read any free-market theorist. Like a Chomsky worshiper, you define "capitalism" as basically anything that's bad. This verbal sleight-of-hand allows you to lump murder and theft under the phony rubric of "capitalism." Have you ever heard of property rights? Ever read Locke, Hayek, Rothbard, Friedman, Rand? No. You confuse capitalism with cronyism, which all those theorists opposed.
Capitalism is not our problem, globalism is. When all investment are in cheap, unregulated labor markets, and we here in the U.S have 25% unemployment. Do you think it would be ok for the government to get envolved in caring for those folks left behind. If we outsource all of the low skill jobs to third world markets what will the folks that preform those jobs do. I'll bet a real brain li
I'll bet a real brain like yourself, never tried to solve that problem. If you don't allow them to starve, rob, kill , and plunder than what do you do. All the low tech jobs have been outsourced, there are no jobs for them, unless they are government sponsered programs. Now what do you do: bigmouth.
The Jobs have Been outsourced by the Government, basically deconstructing the American Industrial Production base. It is by design! Now that Americans are losing jobs, homes, life savings they have no other choice but to be dependent on the federal government, or turning to the MILITARY* to have somewhere to live and get benefits etc. This produces a Dependent American culture, a weaker American culture. *This creates a larger military to send out to Imperialize and Nation build the world over.
Housing is still the lurking monster. These poor greenhorns that bought their first home, because they saved $8k? Oh, OUCH this could be a hard spanking! They fell for the feel-good herd mentality. If all those people had just waited a few months, they could have saved way more than that measly $8k, because prices will fall further. Not to mention, they are immediately upside-down on their largest "asset" the day they signed. Maybe they can sue the government for leading them into a trap! :)
I kinda disagree actually. If you get into a dirt low fixed interest rate now, and low down payment it could be a good investment. The dollar is dropping like a stone, so the mortgage in the house will be worth nothing when it´s all said and done. You can actually borrow money against the house and invest it in foreign stock and pay the loans with the dividends. Inflation of the USD is a great thing when you make money in an appreciating curency...
Haveabeer, if you told me I had to invest in the US residential housing market, that's how I'd do it. As close to zero down as possible. I would fear a 2nd round of butt-wacking next year. With no equity in the house, you couldn't borrow anything against it, but maybe you're thinking you'd use the money you may have but not put towards the down-stroke, and invest it abroad.
Even here in Canada, without the nastiness they have in the US, I still think we're super-sized in home prices.
TraderSteveR >> You seem to get what's going on. I wanted to say that in my circle of friends, that over 90% of them truely believe the American recession is over. On their behalf, most of them have no time to research anything, nor do they care to. In my opinion, the majority is just doodeling along as if nothing ever happened. I agree that Schiff has no chance, because these people don't want to hear it. My theory; Print, Print, Print... then Default, will be the solution.
haveabeer123 >> I would agree, but I believe you would have to factor-in instant appreciation of equity, in order to get some working capital outta the house. My concern is for all the "first-timers" who will most likely see there investment drop further. Some of those people will loose their jobs or fall on hard times, and will become foreclosure victims. Not exactly the American Dream they were led into believing by the Government and their Realtor. Hey, nice flip by the way! :)
You guys are right. If you had 100% cash for the house, you could put as low a down payment as possible, with dirt low fixed interest rate, and invest the rest in foreign stock and pay the mortgage with your foreign dividends. "Aspenmogul" you´re right with the current situation, I doubt many americans would be able to do this. Also, I hear Bernanke will start raising interest rates after the elections, so now may be a good time to do this before double digit interest rates.
haveabeer >> " now may be a good time to do this before double digit interest rates". If they raise rates, buying stops and housing craters. The FED knows this, that's why we are @ zero. I sold everything, sitting on a pile of cash and will wait for bottom. Real estate bottoms are easy to hit, for you only need patience. Much different from stocks. We are a year or two away from bottom in housing, at least.
He's so right about where the blame will be placed when all of this fails. The free market always gets the blame until it's so clear that what we're operating in isn't anything close to a free market, then people rebel and demand that the market be set free.
You say the gov't needs to stop the bailouts and deficits and that interest rates need to be raised. That's great, I agree 100%, but that will not happen, never, not ever. Pray to God but hammer like hell.
You have some balls Peter. You have know what forces you are going up against. They are going to try to destroy you. Stay safe. There are a lot of us who will follow you to hell. God bless
I live in a third world country in South America and no bank would give you a house mortgage unless you put a 20% down payment. The best interest rate you can get these days is 8.5% and banks are flushed with liquidity... Our currency just appreciated 10% this year... So I can´t even imagine how irresponsible banks are in the US... well may it´s cuz they know they´ll be bailed out by ya´ll (I like your southern accents). Good luck with the upcoming depression...
Haveabeer (I think I will), thanks for the South American info from a guy on the ground. I enjoy hearing about what is going on outside North America.
TraderSteveR, your welcome. We do have a big bubble in real state right now due to money laundering. Alot of drug dealers have been buying real state, and prices have gone through the roof. I bought a penthouse apartment in 2007 for 200K, and just sold it for 320K last week. I made a 60% profit in less than 2 years. If that is not a bubble I don´t know what is. Another problem is bank liquidity. They pay almost 0 interest, so people prefer to buy apts. and rent them, pumping up the bubble.
well tradesteveR the house i bought was 68,000 and the previous owner was an older retired woman who kept the house in good shape. I could have put more down but chose not to.
I caught an Oprah segment the other day featuring "Copenhagen women". Denmark supposedly has the happiest people. Their motto is "Less Space, Less Things = More Life". They live, like Americans used to live. Our PHONY economy changed America into believing that more is better. Bigger is better, etc. Peer pressure, keeping up with the Jones.. ran rampant. America is no longer about who you are, it's about what you have. How are we going to correct this?
I'm not recommending anyone to do this, but I bought quite a bit of dollars recently. Despite the dollar index breaking the 76 level, the dollar is very oversold, and even the mainstream is talking about how weak the dollar is. That's generally a sign that it's about to reverse, and precious metals are due for a slight correction. Don't get me wrong, PMs are highly undervalued, but on a weekly/monthly level, it's overvalued.
chro-Nick, you sound like an astute short-term player. I, as you, did the same thing earlier in the week. I made some US stock bets in USD figuring not only would I make the return in the stocks, but I'd double-dip on the currency reversal vs the CAD too. Even though I feel we have a bit more upside in the USD/CAD trade, I closed it yesterday for gains on both sides. Being long-term one way shouldn't preclude someone from taking bets to the contrary. Long USD/CAD was a great trade last year.
Bah, that's just narrow mindedness on their part. I can see the reason behind the buy and hold of any investment if it's working as it is simple to do and you don't run the chance of screwing it up. I can also see the merit of trading the same thing on a shorter term basis. I also don't see the need to take a pullback in my long term play if I can see it coming. The same people that held stocks into huge losses, will be the same people that hold gold when it runs its course. Most don't learn.
but according to Peter, gold has a long way to go, perhaps a 1 to 1 with the DOW in terms of oz of gold, like in the 20s and 60s... What I don´t understand is, if Helicopter Ben raises interest rates next year, wouldn´t gold drop on the expectation that inflation would be under control so gold would lose it´s shine as a hedge against inflation? and wouldn´t the dollar rally from higher interest rates? I understand the negative side such as a major collapse in real state but what about gold?
Haveabeer, yes I agree that Gold most likely has a long way to go. (just look at the Gold companies unhedging their positions now etc) My only concern is that when the turn comes, (which may be 2-5-10-20yrs for all I know) is that I'll see it. There will come a time when Gold will cease to be the trade, and the trade will be something else, like maybe the USD.
All I am saying is that generally speaking I can most often make more of a return trading a security vs just buying and holding it.
lol, no way. Maybe in the short term it'll drop, but with inflation running a lot higher than 5% a year, what's an increase of half a point in interest rates? Don't forget how much money has already been printed in the past 2 years. Gold has a lot of upside to catch up with all that newly created money.
I would personally clone Peter and install him in every goverment department around the world, He,s such a cool character with real vision, in fact his grasp of the world financial situation is spot on !! On a par in fact with the late Sir James Goldsmith.. SAVE not spend people !!
Money based on Debt! Its a game of Musical Chairs, Big Government needs to stay out of the free market!, Controlling Greedy bankers cant get enough blood from many good people on this earth... Thanks Peter for the Vlogs!
Damn capitalists always trying to ruin us by their incentive to make a profit! They're always trying to increase total production and lower prices for everyone!!!
When will people learn that the better way of life is to remove incentive for profit (a net gain in production out per a given amount of production in).
People will just act on good faith and do their best without any incentive for profit! right????
Well you know in ancient times farmers, and their children, used to toil for 10 months out of the year, and trade their crops for a warm smile and a hug.
Peter, is it "someone who hasn't bought a home" OR "Someone who has not OWNED a home. THere is a big difference. IF I sold my home 2 years ago but bought it 4 years ago, does that mean I qualifty?
I can´t believe how oblivious the american public is about the true estate of the american economy. All I read in the news is how the recession is over, and how america is going to resume growth next year. It feels like I´m living in the Matrix and Peter is Morpheous trying to rescue us all. I´m surprised he hasn´t been visited by Mr. Smith yet...
Chinese have now stored their tonnes of gold in a safe. Russia on the other hand is going to sell more than 20 tonnes of gold to get rid of their debt.
Listen dude these people are very smart and cunning. They just provided the rope but American citizens took that rope and hung themselves with it. It is up to us to educate our fellow Americans not to participate in Cash for Clunkers, First-time Homebuyers credit, etc. If we stop hanging ourselves with the rope, the rope will become harmless.
Yes, the general person in America is a moron, but think about it... it still takes a VERY EVIL person to take advantage of a moron the way that these bankers and politicians are doing. So at the very least both parties are at fault. No way are the people just at fault. Do you not want a world where people help one another and help the moron instead of binding him so badly that it affects ALL of us?
I want inflation. Inflation will allow people to pay down credit cards and home mortgages. I also want the currency to devalue. We need to start making things in the us. A devaluing of us money would force that. Time to start living on less than we make.
enyawix 2 years ago
The rich are simply hoarding. Taking their ball and bat home and pouting. They can afford to sit back and watch everything go to Hell for three more years or more easily. They never had to work really. Sure - some bought companies, but the big BIG ass wealth is all blood money.
kipptumor 2 years ago
@kipptumor
Thats the communist philosophy.
Maybe they did have to work,and not sleep doing homework for a good life.What youre saying is people who didnt do anything,should go and take the people with more moneys money and split it.
Your comment is idiotism....
Dragonfablemaniac 2 years ago
Yeah, I'm getting there Clyde.
kipptumor 2 years ago
wow youtube suck's they delete my comment..you are an individual who has common sense...yes the gov't is NOT LISTENING TOO THE PEOPLE....EVENTUALY...THEY ..WILL...LISTEN TOO...U.S.A.
trianglepoint 2 years ago
So basically the majority are losing the financial race while a bunch of rich people simply jacked the price up enough to cause the "economy to go up". The rich get richer while the majority get poorer. We can't possibly believe this.
metalschooldrill 2 years ago
This is what the "marketing" world is, and what it has and will always do. It's not a good thing to put a fucking price tag on everything. And sell people shit they don't need and surely could live without. There will always be people weak enough, not to think ahead far enough, fast enough. And people should not be aloud to profit on that. (or corporations either). Tell me it's not a problem.
rich2rock 2 years ago
You've been talking about the fact that perceived value can cause inflation without realizing that it's nothing new. Yet you seem to be convinced that you've made some big new discovery and you should be a senator. What a study in poltics this video is!
mickblock 2 years ago
This comment has received too many negative votes show
Good luck getting elected for the senate when you call the American economy "phony".
I would like to see Peter Schiff in the Senate but I doubt it is going to happen when he talks like this...
ThorkilKowalski 2 years ago
Calling what it is a good thing! I agree thats what politicians dont usually do...but then aren't we tied of politicians in DC
We want anti-politicians in DC...and Schiff fits the bill quite nicely!
LORDOFWARS8 2 years ago
Political geeks like us may want politicians to speak the truth but nine out of ten prefers a politician who is positive on the US future - calling the US economy phony is not what people want to hear. Schiff probably will not come anywhere near the senate but as I said before; I hope I am wrong on this.
ThorkilKowalski 2 years ago
yes because no one in washington wants to say or know the truth
pretorious700 2 years ago
Have a great weekend. Ehh...
Coribec 2 years ago
agree.
tgwchicago 2 years ago
Pete, focus the camera.
alwaysopen 2 years ago
Why does this guy look like Bill Maher?
GRANDOVERLORD77 2 years ago
Because he's kind of of arrogant and likes to fill his opinions with technical terms and rapid fire conjecture?
mickblock 2 years ago
Damn it.
The Russian, Chinese, French, and other countries had secret meetings about abandoning the Dollar.
This is ganna piss off the Americans, Canadians.
BroadCastTuber 2 years ago
Schiff for Senate! Good job buddy..
GreenrushCapital 2 years ago 4
Trickle down is a fact of economic life, but you folks are getting caught up in the wrong thing to be mad about. Be mad about the fact that insider crony capitalism keeps happening under both major parties. And it happening worse than ever under the Obama administration. The salary reduction is just a dog & pony show to keep us peons amused while the financial raping continues.
End the Federal Reserve and vote in Libertarians.
kmg501 2 years ago 6
Absolutely right. Obama = George W. Bush Act III
tinfoilcap 2 years ago 2
So why don't we raise interest rates to 90%?
tempersne 2 years ago
Production X Savings = Wealth
Debt X Consumption = Poor House
WorldlyMrB 2 years ago 3
Well said :)
rl0u8888 2 years ago
isnt wealth just stuff? money is the ability to get wealth. its also freedom and power.
michaelpshipley1 2 years ago
Anybody else think Kudlow is gonna bring up Schiff's comments at 0:51-1:06?
metalfuelandfire 2 years ago
Peter Fill free to take my laws of nature Quote.
QWERTY34990 2 years ago
Thinking with Reagan, The laws of nature tells us nothing can trickle up only Evaporate. is this not true?
QWERTY34990 2 years ago
Yes: and the trickle down hasn't worked that well either.
louiethegreater 2 years ago
Trickle down don't work with high taxes
QWERTY34990 2 years ago
Wow Q if you cannot see that trickle down economics, doesn't work by now, there is no hope for you. If trickle down works: where is it!
louiethegreater 2 years ago
Another word for trickle down is Capitalism. also known as a J.O.B.
QWERTY34990 2 years ago
Well than, a brilliant mind like yourself , should realize trickle down hasn't occured. Trickle out has, manufacturing has flooded, not trickled out of the country. How many jobs would have to be lost before you realize Regan and Kemp was wrong.
louiethegreater 2 years ago
So you pick Keynes over Von Mises? Remember Keynes eventually conceded that 'in the end we are all dead anyway'
dontdispie 2 years ago
Keynes is an idiot. This is the guy who said its good fiscal policy to hire people to dig a hole. And then fill it up again.
tinfoilcap 2 years ago
The current administration and the Democratic party are even more radical and more misguided than Keynes. Keynes said only to use deficit spending in recession and to store up surpluses in good years. The current majority believes in running perpetual deficits to fund a perpetual vote-buying welfare state scheme.
herbs814 2 years ago
good luck in your run for Senate Schiff!!
ceasey0xoogurl 2 years ago 3
much better sound
prac2 2 years ago
Well put. Definately worth watching.
alyin363 2 years ago
We don't have a free market, we have a mixed market which is roughly 20% free and 80% monopolized.
If we had a free market, 20% of Americans would be self employed rather than unemployed.
Piscivorus 2 years ago
Thanks again.
Enjoyed this one a little more then normal - and I normally enjoy them.
Have a great weekend.
McRocket 2 years ago
when will the focus be on Goldman Sachs and Foreign Banks robbing the American Public blind?
This has been the biggest heist in world history.
Had we taken the bailout to the banks and gambling wall street we could have given every man, women and child in the US $40k.
Now there's a boost to the economy.
Audit the FED and a number of people will end up in jail.
Let's cut through the BS and stop trying to prop this broken and fake system up, expose the real crooks
Start speaking up!
marniespeaks 2 years ago 3
The best part of some of his videos are " another down day for the dollar" I love it! Peter good luck next year.
detroitgreeks 2 years ago 2
Reply to Canada Resident
If USGov's fiscal policy was to all of a sudden reduce govt spending, raise interest rates, lower taxes, lower regulations, and become pro-business, then it would be time to celebrate some positive news.
But what are the odds of that ever happening?
WorldlyMrB 2 years ago
Hey cerkonn
not positive? Peter has been feverishly bullish about emerging markets since 2006?
Where have you been?
Don't think you have seen his previous videos.
madhuradi 2 years ago
Peter, I have been watching your videos for a year now and overall I find your logic sound and I appreciated your perspective and the information you provide.
There is one nagging downside of your diatribes though. You seem never to have anything positive to say? Do you only doom and destruction?
Surely, there must be something positive to give your audience.
Best Regards
Canada Resident
Cerkonn 2 years ago
its unfortunate but the Gov't appears to be running our economy into shit on purpose so there is no positivity coming out of this. he is simply stating the harsh truth that the TV refuses to admit. The TV acts like we are coming out of a recession..HA!
ceasey0xoogurl 2 years ago
Real Estate is just too big of an investment to get wrong. I'd rather be a little late than early to that game if I'm walking in and buying a home. Then again, I am no fan of real estate anyway. If I could sell my house and rent it back for say 10-15 years, I would. Why? Because in my opinion it's overpriced for what it can bring in as an investment, and so the price will either come down, or it will continue to be a bad trade to the long side.
TraderSteveR 2 years ago
Republicans really are like the fascists, they don't care about the discriminatory policies of the ultra-nationalists and racial purists, they just want the trains to run on time.
jrubin22 2 years ago
he is right on about saving and the fake home prices and the economy. Honestly I can't see we have progressed much in 2 years if at all. Government run amuck -they should ashamed to say the least. Peter can't be a Senator soon enough.
lenny380 2 years ago
Is something wrong w/Peter's mouth like his lips keep smacking and it looks kind of numb or something like cerebrial palsy
DaveIrie 2 years ago
But if you raise interest rates ALOT all those with debt which is alot, plus the governements loans will go up. You save the dollar but kill the people and government. I say let the dollar die, let them realise we need a gold backed currency.
MAJESTIC10110 2 years ago
go peter!
mcwonderboy 2 years ago
Thanks for the lower mic level!!!!!!!!!!!!!!!!
MOPEDBRAD 2 years ago
I hope the Dems approach him b/c I won't vote for a Republican until they put a leash on Palin and the teabaggers
jrubin22 2 years ago
hell yeah
Democrats should receive Ron Paul and Peter...gosh..it would save this country
YoungSpotUBrock 2 years ago
The teabaggers aren't Republicans. In Mass, where everybody is essentially a socialist, they might be. And the Republicans sure would like to appropriate the momentum of people who actually believe in freedom - but they don't have much credibility. The left/right paradigm is meaningless. The freedom movement isn't partisan,
purplepamphleteer 2 years ago
Ya gotta love how Peter ends his videos; "The government's gonna increase regulations, send our economy crashing into the center of the Earth, the Anti-Christ shall rise and commit mass genocide on all the children of Earth, the streets shall run red with rivers of blood and fire shall fall from the sky. Have a great weekend, folks!" Fuckin' A.
moshe88 2 years ago
always stay positive, number one rule :D
ricochetVendetta 2 years ago
Good stuff man!
The "Fuckin' A" made me almost blow coffe through my nose.
MOPEDBRAD 2 years ago
"Everything is fine."
-Henry Paulson
michaelpshipley1 2 years ago
Peter schiff the oracole great insights and advice my Money is growing Thank you Mr. Schiff
cyalaterthan 2 years ago
Watch WAMUed Nation
v=NxGBwExQDdU
Writious 2 years ago
This has been flagged as spam show
o Israel has killed Americans (eg. Sailors on USS Liberty, Rachel Corrie, etc...)
o Israel spies on this country (eg. Pollard, Kadish, AIPAC, etc...)
o Israel bought our politicians with our taxes.
o Israel steals our taxes, hence their higher income.
o Israel uses our country as their toilet.
Want more? Checkout my playlist.
Please share this post with others, and demand that your Senator and/or Representative uphold the laws when it comes to Israel's heinous crimes. Peace!
HateAllNazis 2 years ago
The only way to help the dollar would be to start burning them.
Less dollars in the world would help, but we need to stop trading with countries they kick our ass for labor rates, balanced trade, or better yet how about a trade deal that favored us for once?
phantomcharger 2 years ago
great vid, peter. I hope the country can wake up!
asphyxiafeeling 2 years ago
thanks Peter.
treboomboom 2 years ago
Would you vote for someone who encourages investment in Asian Markets instead of their own country. Wow we are really desperate for Senators. I believe Washington is full of globalist now. Globalism is the enemy, is it really in Americas interest to vote for another globalist?
louiethegreater 2 years ago
Sounds to me Louiethegreater, that you like what has been going on in America to date. I guess you should continue to vote for more of the same and like what you get in the end. If Peter can't save the country (which I believe he will fail miserably, but I hope I am wrong) at least he will save the portfolios of individual Americans and others who are wise enough to listen to him.
Good luck to you and the American Goldilocks economy :-)
TraderSteveR 2 years ago
I am against globalism, Peter is a Globalist. Washington is full of globalist. Why would you think he could, or would make a difference. I really don't understand how you got that understanding of my posts, maybe you should re-read them.
louiethegreater 2 years ago
Speaking of misinterpreting posts Louie, you just did with my post. I just wrote to you that I think Peter will fail miserably. I do not think he will make a difference (on a large enough scale for it to matter I mean, not individually).
Your Globalist thing may be correct, but Peter is trying to turn the US around and he's trying to help individual Americans keep their wealth, so if the fundamentals mean they need to invest outside the US, then his job is to get it right for his people.
TraderSteveR 2 years ago
This isn't the only time I have heard Peter speak. Offshore investment is playing a major role in the distruction of our economy. When he incourages it, I personally consider that to be very, very unpatriotic. Individual Americans who need Peter to tell them how to invest their wealth, will not have their wealth for long. I think recent events should prove that. Kudlo, Cramer, all MSNBC has plenty of advice for the sheeple.
louiethegreater 2 years ago
Hi Louie, I certainly understand that to some people (mostly the big flag-waiver American types) that Peters calls to NOT buy/invest American may indeed sound unpatriotic. The problem in my view here isn't with Peters sound investment advice, but in the Government run bastardization of what most people see as 'Patriotic'. I'll be honest with you,I don't give a rats ass what my politicians do to my country. My job is to take care of my own and at the same time not impede on the rights of others.
TraderSteveR 2 years ago
Peter doesn't encourage American investment because he knows what globaism is doing to the country. He does encourage laissez-faire, free trade which is the vehicle globalism is rideing on. If you don't care about the actions of those politicans, you will not be able to care for your family. Hard for me to understand the ignorance of folks who would consider him a viable candidate for the U.S. Senate. Hardly in the Ron Paul, Pat Buchanan, Ross Perot tradition.
louiethegreater 2 years ago
Louie, you seem to have valid concerns and complaints, but you offer no alternative to those that would oppose Schiff's "globalism" as you call it. So if what you believe is people shouldn't vote for Schiff, who would you suggest they cast their vote for, and why? I hear Dodd is a real peach. Should they vote for more of the same "A", or more of the same "B"?
Or do you believe as most do (as per voter turn-out), that it doesn't matter because in the final analysis, there truly is no choice.
TraderSteveR 2 years ago
steve, You are totally right we have not had anyone to vote for in 50 years. Why our countrymen will not nominate a candidate like Ron Paul is can't understand. I know Chris Dodd is a globalist, owned by multinational corperations, folks only need one criteria when choosing a candidate. Are they a globalist, if they are we will get more of the same. Tell me do you have any concern that our entire manufacturing sector has been outsourced to cheap, third would, unregulated labor markets.
louiethegreater 2 years ago 2
to define the current state of our economy as a truly free market or capitalistic in nature is ignorance beyond belief. currently 35-42% of our economy, depending on what source you look at, is either directly or indirectly tied to government spending and intervention...that is not free market capitalism! we continue to have economic problems because we are abandoning free market principles for socialistic policy. capitalism doesnt leave people starving in the streets, socialism does.
birdiemd 2 years ago 3
capitalism doesn't leave people starving in the streets, socialism does?
commonsense2008 2 years ago
No it does not. Charity will always be there because people have compassion. It is more unfair to keep people dependent on government programs that help people feel like they are entitled to all things they want without working for it.
johcoppola 2 years ago
Comment removed
CoHproduction 2 years ago
I was replying to birdiemd. Both models, capitalism and socialism can work well as long the people who implement it are non corrupt.I am from what you may call a "socialist"country(comparing to the USA that is)The standard of living is twice comparing to here, we don't have people living on the streets,and people are being treated with dignity. We pay 45 Euro/Year for health care, that covers everything, no questions asked when you break a leg. Our national debt 35 Euro/citizen. USA38/k/citizen
commonsense2008 2 years ago
the world is more complicated than one nation's statistics. the size of population also makes a lot of factors different in terms of the scope of their impact and the difficulty of controlling them. corruption is one example. how you would even bother mentioning a system is ok while realizing corruption is an issue is beyond me. there's no example of big empires with complicated geography, population, and political system without corruption, in fact, that's how most empires collapse.
spyletu 2 years ago
I don't see it being that complicated. The problem is not the few people on the top that are corrupt, the problem are the ignorant people who believe their lies and keep them in power (or the ones that are too afraid to speak up). This is how Hitler got into power, most germans adored him. He didn't got himself in power, the people did. So..yea maybe you are right after all, try to change the people, not an easy job
commonsense2008 2 years ago
look blaming the ignorant is like blaming dog for bad eating habits. the capitalistic system punishes people for being ignorant and stupid, and government intervention provides no incentives for people to be smart because when things go badly, the government bails them out. "socialistic" is not a bad word per se, it's just that to execute its method, government support for ignorant people has to be the basis of any agenda it wishes to accomplish, it is a Fundamental flaw,
spyletu 2 years ago
so it has nothing to do with the ideology that socialists are spewing, the method makes it impossible. and under the constitution, if a group of community decides to be socialists, they can do that. they just can't pass laws to interfere with other people. that's the fundamental difference between a free society which just inherently has to be capitalistic, and a socialistic society. and yes it's complicated but it's been solved. it's only too complicated for your simplistic approach.
spyletu 2 years ago
no offense, nothing personal, i just get worked up whenever i talk about anything socialism related, because it just doesn't work in countries with, like i mentioned, complicated population ethnicity, economic class, geography etc etc.
spyletu 2 years ago
Yes I agree with your statement, but if there are no jobs: Then What.
louiethegreater 2 years ago
forcing other people to take care of people by taxing other people does. there will always be people starving, that's not the question. also the united states used to be the greatest technology exporter to the world thanks to its freedom to innovate. places like taiwan where i come from with socialistic medicine program imports technology from united states all the time, they're freeloading. my uncle is a well known doctor in taiwan he has to come to the states everytime there's somethin new
spyletu 2 years ago
what kind of rubbish are you talking about? Capitalism doesn't leave people in the streets? Poverty in the US is nearing 20%, meanwhile in a 'socialist' country like Sweden has next to none. but the truth is. Real socialism works. so does Real Capitalism. what doesn't work is the crony capitalism that's been going over here, and the corrupt socialist ideas of say, Soviet Russia or something. There IS more then one working way to govern, if you disagree i suggest reading a history book.
asphyxiafeeling 2 years ago
asphy you need to need economics or read ron paul's end the fed. it shouldn't be news any longer for even economic illiterates that what we had was called "corporatism", like michael moore himself admitted, not free market capitalism. to see moore's clip put michael moore, corporatism, capitalism in search. what we had for the past 100 years was a government becoming increasingly socialistic, and an ever more corporative market. both requires government interference. you alot more reading.
spyletu 2 years ago
yeah i saying that in my last comment, we don't have free-market capitalism right now. Crony Capitalism is what we have. Bailouts to big banks, printing money. I'm a big Ron Paul fan and I've read about austrian economics, haha. I think perhaps you misunderstood me. I was merely pointing out that there are other models that work, pointing to Sweden's non-existent poverty as an example. Sorry about calling your other comment rubbish. that was rude of me.
asphyxiafeeling 2 years ago
Hey Schiff, you wanna get elected? Won't happen. You don't lie.
manoman0 2 years ago
Peter failed to mension, we should allow folks to starve in the streets, freeze in winter, murder each other for lack of food. That is true capitalism. Yea Lets Go For It. Theirs an extra buck in there somewhere.
louiethegreater 2 years ago
UM I seem to remember alot more hungry people in socialist countries and alot more bread lines :( let us not forget the 60Mil killed in Mao's starvation
chucktube90 2 years ago 3
in which free market capitalist country is this happening?
kevina047 2 years ago
You're a complete moron who has obviously never read any free-market theorist. Like a Chomsky worshiper, you define "capitalism" as basically anything that's bad. This verbal sleight-of-hand allows you to lump murder and theft under the phony rubric of "capitalism." Have you ever heard of property rights? Ever read Locke, Hayek, Rothbard, Friedman, Rand? No. You confuse capitalism with cronyism, which all those theorists opposed.
bob12285 2 years ago 2
Capitalism is not our problem, globalism is. When all investment are in cheap, unregulated labor markets, and we here in the U.S have 25% unemployment. Do you think it would be ok for the government to get envolved in caring for those folks left behind. If we outsource all of the low skill jobs to third world markets what will the folks that preform those jobs do. I'll bet a real brain li
louiethegreater 2 years ago
I'll bet a real brain like yourself, never tried to solve that problem. If you don't allow them to starve, rob, kill , and plunder than what do you do. All the low tech jobs have been outsourced, there are no jobs for them, unless they are government sponsered programs. Now what do you do: bigmouth.
louiethegreater 2 years ago
The Jobs have Been outsourced by the Government, basically deconstructing the American Industrial Production base. It is by design! Now that Americans are losing jobs, homes, life savings they have no other choice but to be dependent on the federal government, or turning to the MILITARY* to have somewhere to live and get benefits etc. This produces a Dependent American culture, a weaker American culture. *This creates a larger military to send out to Imperialize and Nation build the world over.
enemyartistkristofeR 2 years ago
That is exactly right.
commonsense2008 2 years ago
enemyartistkristofeR, You are a very wise person. Thanks for the comment.
louiethegreater 2 years ago
Housing is still the lurking monster. These poor greenhorns that bought their first home, because they saved $8k? Oh, OUCH this could be a hard spanking! They fell for the feel-good herd mentality. If all those people had just waited a few months, they could have saved way more than that measly $8k, because prices will fall further. Not to mention, they are immediately upside-down on their largest "asset" the day they signed. Maybe they can sue the government for leading them into a trap! :)
aspenmogul 2 years ago
I kinda disagree actually. If you get into a dirt low fixed interest rate now, and low down payment it could be a good investment. The dollar is dropping like a stone, so the mortgage in the house will be worth nothing when it´s all said and done. You can actually borrow money against the house and invest it in foreign stock and pay the loans with the dividends. Inflation of the USD is a great thing when you make money in an appreciating curency...
haveabeer123 2 years ago
Haveabeer, if you told me I had to invest in the US residential housing market, that's how I'd do it. As close to zero down as possible. I would fear a 2nd round of butt-wacking next year. With no equity in the house, you couldn't borrow anything against it, but maybe you're thinking you'd use the money you may have but not put towards the down-stroke, and invest it abroad.
Even here in Canada, without the nastiness they have in the US, I still think we're super-sized in home prices.
TraderSteveR 2 years ago
TraderSteveR >> You seem to get what's going on. I wanted to say that in my circle of friends, that over 90% of them truely believe the American recession is over. On their behalf, most of them have no time to research anything, nor do they care to. In my opinion, the majority is just doodeling along as if nothing ever happened. I agree that Schiff has no chance, because these people don't want to hear it. My theory; Print, Print, Print... then Default, will be the solution.
aspenmogul 2 years ago
haveabeer123 >> I would agree, but I believe you would have to factor-in instant appreciation of equity, in order to get some working capital outta the house. My concern is for all the "first-timers" who will most likely see there investment drop further. Some of those people will loose their jobs or fall on hard times, and will become foreclosure victims. Not exactly the American Dream they were led into believing by the Government and their Realtor. Hey, nice flip by the way! :)
aspenmogul 2 years ago
You guys are right. If you had 100% cash for the house, you could put as low a down payment as possible, with dirt low fixed interest rate, and invest the rest in foreign stock and pay the mortgage with your foreign dividends. "Aspenmogul" you´re right with the current situation, I doubt many americans would be able to do this. Also, I hear Bernanke will start raising interest rates after the elections, so now may be a good time to do this before double digit interest rates.
haveabeer123 2 years ago
haveabeer >> " now may be a good time to do this before double digit interest rates". If they raise rates, buying stops and housing craters. The FED knows this, that's why we are @ zero. I sold everything, sitting on a pile of cash and will wait for bottom. Real estate bottoms are easy to hit, for you only need patience. Much different from stocks. We are a year or two away from bottom in housing, at least.
aspenmogul 2 years ago
He's so right about where the blame will be placed when all of this fails. The free market always gets the blame until it's so clear that what we're operating in isn't anything close to a free market, then people rebel and demand that the market be set free.
tony62 2 years ago
You say the gov't needs to stop the bailouts and deficits and that interest rates need to be raised. That's great, I agree 100%, but that will not happen, never, not ever. Pray to God but hammer like hell.
pentel1911 2 years ago 2
Tell us more how wrong Roosevelt was--to teach Obama not to follow him...all the way down to confiscating gold...
focus21x 2 years ago
You have some balls Peter. You have know what forces you are going up against. They are going to try to destroy you. Stay safe. There are a lot of us who will follow you to hell. God bless
Ddonjuan 2 years ago 2
Why all the jargon? Get to the point with a summary
PA16803 2 years ago
I´m curious how the Latvia domino plays out this weekend.
0PsycoDad0 2 years ago
I sold my house because of the tax credit. Buyer put $300 down.
Three HUNDRED!
Who says we're done with the subprime mortgage crisis.
firstclown 2 years ago
firstclown u just may be kidding, right?
I bought a house in August and had to put $3000, three thousand down.
plumflowerblossom 2 years ago
I live in a third world country in South America and no bank would give you a house mortgage unless you put a 20% down payment. The best interest rate you can get these days is 8.5% and banks are flushed with liquidity... Our currency just appreciated 10% this year... So I can´t even imagine how irresponsible banks are in the US... well may it´s cuz they know they´ll be bailed out by ya´ll (I like your southern accents). Good luck with the upcoming depression...
haveabeer123 2 years ago 3
yeah, easy credit and easy money creates false economy, filled with debt.
That's the problem, and the problem continues.
YoungSpotUBrock 2 years ago
Haveabeer (I think I will), thanks for the South American info from a guy on the ground. I enjoy hearing about what is going on outside North America.
TraderSteveR 2 years ago
TraderSteveR, your welcome. We do have a big bubble in real state right now due to money laundering. Alot of drug dealers have been buying real state, and prices have gone through the roof. I bought a penthouse apartment in 2007 for 200K, and just sold it for 320K last week. I made a 60% profit in less than 2 years. If that is not a bubble I don´t know what is. Another problem is bank liquidity. They pay almost 0 interest, so people prefer to buy apts. and rent them, pumping up the bubble.
haveabeer123 2 years ago
lol firstclown.you meant you sold your CAR with only $300 down, right? lol.
Lordy Lordy, that's funny stuff man. Even $3000 down is a joke unless it's a real shack (50K type abode).
Too funny. The country is just completely falling apart from gross stupidity at taxpayers expense.
How can you not laugh at this stuff?
Come to Canada, we have cookies and only quasi-sub-prime. Yes, our dumb is just as bad, but it has a cool accent and better health care :-)
TraderSteveR 2 years ago
well tradesteveR the house i bought was 68,000 and the previous owner was an older retired woman who kept the house in good shape. I could have put more down but chose not to.
plumflowerblossom 2 years ago
68K for a home in good shape sounds like a deal, Plum.
TraderSteveR 2 years ago
i bought the house mainly because i was getting sick of landlords. Nothing to do with the 8k thing
plumflowerblossom 2 years ago
I caught an Oprah segment the other day featuring "Copenhagen women". Denmark supposedly has the happiest people. Their motto is "Less Space, Less Things = More Life". They live, like Americans used to live. Our PHONY economy changed America into believing that more is better. Bigger is better, etc. Peer pressure, keeping up with the Jones.. ran rampant. America is no longer about who you are, it's about what you have. How are we going to correct this?
aspenmogul 2 years ago 3
I'm not recommending anyone to do this, but I bought quite a bit of dollars recently. Despite the dollar index breaking the 76 level, the dollar is very oversold, and even the mainstream is talking about how weak the dollar is. That's generally a sign that it's about to reverse, and precious metals are due for a slight correction. Don't get me wrong, PMs are highly undervalued, but on a weekly/monthly level, it's overvalued.
chroNick546 2 years ago
chro-Nick, you sound like an astute short-term player. I, as you, did the same thing earlier in the week. I made some US stock bets in USD figuring not only would I make the return in the stocks, but I'd double-dip on the currency reversal vs the CAD too. Even though I feel we have a bit more upside in the USD/CAD trade, I closed it yesterday for gains on both sides. Being long-term one way shouldn't preclude someone from taking bets to the contrary. Long USD/CAD was a great trade last year.
TraderSteveR 2 years ago
Yes, I agree, yet I get bashed by all of the gold bugs for doing this.
chroNick546 2 years ago
Bah, that's just narrow mindedness on their part. I can see the reason behind the buy and hold of any investment if it's working as it is simple to do and you don't run the chance of screwing it up. I can also see the merit of trading the same thing on a shorter term basis. I also don't see the need to take a pullback in my long term play if I can see it coming. The same people that held stocks into huge losses, will be the same people that hold gold when it runs its course. Most don't learn.
TraderSteveR 2 years ago
but according to Peter, gold has a long way to go, perhaps a 1 to 1 with the DOW in terms of oz of gold, like in the 20s and 60s... What I don´t understand is, if Helicopter Ben raises interest rates next year, wouldn´t gold drop on the expectation that inflation would be under control so gold would lose it´s shine as a hedge against inflation? and wouldn´t the dollar rally from higher interest rates? I understand the negative side such as a major collapse in real state but what about gold?
haveabeer123 2 years ago
Haveabeer, yes I agree that Gold most likely has a long way to go. (just look at the Gold companies unhedging their positions now etc) My only concern is that when the turn comes, (which may be 2-5-10-20yrs for all I know) is that I'll see it. There will come a time when Gold will cease to be the trade, and the trade will be something else, like maybe the USD.
All I am saying is that generally speaking I can most often make more of a return trading a security vs just buying and holding it.
TraderSteveR 2 years ago
lol, no way. Maybe in the short term it'll drop, but with inflation running a lot higher than 5% a year, what's an increase of half a point in interest rates? Don't forget how much money has already been printed in the past 2 years. Gold has a lot of upside to catch up with all that newly created money.
chroNick546 2 years ago
ChroNick, again, well done on the short term trade. Looks like we called it correctly. I honestly think you've got a little more in it too.
TraderSteveR 2 years ago
Oh yea, I think there will be a considerable rally. I'll be holding it for a bit.
chroNick546 2 years ago
You fixed the audio! Good stuff Pete.
chroNick546 2 years ago 5
Talk about artificial paper wealth - my home "estimate" on zillow is $20K higher than it was during the summer.
jinessesea 2 years ago
I would personally clone Peter and install him in every goverment department around the world, He,s such a cool character with real vision, in fact his grasp of the world financial situation is spot on !! On a par in fact with the late Sir James Goldsmith.. SAVE not spend people !!
FlyingFox1971 2 years ago
it's a VERY old one.
vorbeigehende 2 years ago 3
5 stars for fixing the audio.
ashaney13 2 years ago 4
LOL....true!
Shocksink 2 years ago
Hey Peter, don't be shy. No need to mince your words, say whay you really mean. LOL
rollsthepaul 2 years ago
338 ratings - 312 views
Pglarsen 2 years ago 2
Maybe the ratings update in real-time, but the views only in batches every while.
That, or, of course this channel has been manipulated to reduce the viewcounts.
elboertjie 2 years ago 2
thanks for fixing the mic peter!!!
donniebrasco24 2 years ago
Comment removed
cobra60six 2 years ago
331 ratings and 312 views
¯\(O_o)/¯
TheLostRepublic 2 years ago
Each time you need to multiply the number at least by ten!
RemiG2006 2 years ago
I still wish I was Amish.
Pnkbong 2 years ago
Money based on Debt! Its a game of Musical Chairs, Big Government needs to stay out of the free market!, Controlling Greedy bankers cant get enough blood from many good people on this earth... Thanks Peter for the Vlogs!
JustLiveITtv 2 years ago
he seems reasonable why nobody in govt listen to him ?
dream2last 2 years ago 2
Damn capitalists always trying to ruin us by their incentive to make a profit! They're always trying to increase total production and lower prices for everyone!!!
When will people learn that the better way of life is to remove incentive for profit (a net gain in production out per a given amount of production in).
People will just act on good faith and do their best without any incentive for profit! right????
TheMetalPerson 2 years ago
Well you know in ancient times farmers, and their children, used to toil for 10 months out of the year, and trade their crops for a warm smile and a hug.
RvNYC 2 years ago 2
For the record, the "economist" Peter mentions is Harm Bandholz, who works at UniCredit Global Research in New York. "Harm" indeed!
anti0918 2 years ago
Peter, is it "someone who hasn't bought a home" OR "Someone who has not OWNED a home. THere is a big difference. IF I sold my home 2 years ago but bought it 4 years ago, does that mean I qualifty?
askmeif 2 years ago
The language is has not "owned in the last 36 months."
JohnPaulLedesma 2 years ago
I can´t believe how oblivious the american public is about the true estate of the american economy. All I read in the news is how the recession is over, and how america is going to resume growth next year. It feels like I´m living in the Matrix and Peter is Morpheous trying to rescue us all. I´m surprised he hasn´t been visited by Mr. Smith yet...
haveabeer123 2 years ago 9
Mr. Smith is Bernanke.
Blackjack555 2 years ago 2
Mr. Smith is infinitely cooler than that fat retarded dumb ass...
viehe69 2 years ago
Interesting way of putting it
Banez1991 2 years ago
Thanks Peter. Good stuff.
Intervene 2 years ago
Oh and thanks for adjusting the audio so its listenable
TheLivingDeadOne 2 years ago 2
I wish houses would drop to something affordable for me.
TheLivingDeadOne 2 years ago 4
But Peter, everyone knows that the best way to treat a hangover is to get stinking drunk again.
nonantianarchist 2 years ago 4
If the government props up housing prices...then everything will be wonderful.
That's mainstream economics for ya.
nonantianarchist 2 years ago
i heard the mic was fixed. maybe i will give it a listen then. no audio meant no watching for me. welcome to realtiy of fast media
lakshmere 2 years ago
Good sound logic. I think most consumers understand it. It's the government that's the problem...
cooperbry 2 years ago
Sound is great peter... thnx for the fix
Miamijunglist 2 years ago 2
Ugh, my comment wouldn't post because it had greater than less than signs.
Greater Savings means lower interest rates.
Low Savings means Higher interest rates.
The Keynesian counterfeiters can't understand this basic check and balance of a free market.
JessicaBelle81 2 years ago
Chinese have now stored their tonnes of gold in a safe. Russia on the other hand is going to sell more than 20 tonnes of gold to get rid of their debt.
mechanicalengineer3 2 years ago
Awsome video Pete. Thanks for fixing your audio. sounds great now! :)
RyanB0011 2 years ago
thanks for the mic
Joeyz444 2 years ago 5
Comment removed
66chevyo 2 years ago
While it is the people's fault, the bankers are at fault. By at fault I mean if I ever see them I will execute the right to put my 12 gauge to use.
OntologicalQuandary 2 years ago
Listen dude these people are very smart and cunning. They just provided the rope but American citizens took that rope and hung themselves with it. It is up to us to educate our fellow Americans not to participate in Cash for Clunkers, First-time Homebuyers credit, etc. If we stop hanging ourselves with the rope, the rope will become harmless.
residentzombie 2 years ago
Yes, the general person in America is a moron, but think about it... it still takes a VERY EVIL person to take advantage of a moron the way that these bankers and politicians are doing. So at the very least both parties are at fault. No way are the people just at fault. Do you not want a world where people help one another and help the moron instead of binding him so badly that it affects ALL of us?
OntologicalQuandary