"It's possible that I'm getting it wrong again." I love Peter Schiff... even though he has NAILED so many things, he admits to missing some things, and even warns against his possible future mistake. So refreshing to hear someone - especially someone so brilliant and prescient - admit their fallibility. We definitely won't hear that in the MSM.
"It's possible that I'm getting it wrong again." I love Peter Schiff... even though he has NAILED so many things, he admits to missing some things, and even warns against his possible future mistake. So refreshing to hear someone - especially someone so brilliant and prescient - admit their fallibility. We definitely won't hear that in the MSM.
it appears that the euro is correcting the bull rally it had for 8 years straight. We are in a c wave that will finish much lower. A great time to buy eur/usd at the end of the year for a long term target of 1.50 -1.80
if you read this Mr. Schiff: i have learn a lot from you and start study by myself about economics ,this should motivate a lot of Americans do so to make the proper decisions not only for themselves but for the country too. we killing our own economy by printing more money, moving factory's to other country's , bailing out rich people and rising minimum wages too kill low skill jobs. many of the stuff that you said i just common sense!!. Blessings!
People still love that dollar tho. When things get edgy they run to the dollar and bonds amazingly. It is going to take a major mind shift to change this. Gold is doing better tho during the "scary" days.
Hey Peter, could you comment on China's housing bubble? Li Daokui, adviser to the People's Bank of China, claims their bubble is even worse than the US housing bubble ever was. So many people are being priced out of the market that it's preventing urbanization and creating social unrest.
Everyone seems to think China's economy will crash, that it has an unsustainable credit bubble which will burst, thus preventing the global economy from recovering.
Yeah the government props up the housing market while the rest of us newcomers to owning houses get shafted because the prices are ridiculously high and overinflated. Sorry, but I haven't been working for 20 years to be able to afford a pathetically overinflated house which costs way more than its worth. I was looking forward to house prices falling more but of course the gov decided that big financial businesses are 'to big to fail' and deserve a second chance for their idiotic & risky gambling
guy still can't afford an HD camera to take his picture. Lameo... things stuff sound better when the eye is distracted. Grainy picture = grainy message. First impressions do matter Mr. Schiff.
Money is the problem...not Europe, China or the U.S. It's ALL about the MONEY! End Money and we won't have this Mess. Money is responsible for greed, corruption, crimes, poverty, famine, war, death. Who needs it? You can't eat it...it provides Zero Comfort. Money is Dog Shit!
@younitehumanity Money is just a scorecard....competition survival of the fittest is what rules this world it's evolution that is how the world works adaptation to changing enviroments. Money is just a tool you cant change how nature works.....
@IWashMyOwnBrain As long as we have a monetary system...there will be inbalance on this planet. All nations could share their resources with other nations and only create jobs that will manufacture the things we need like Food, clothing, housing, transportation. Basic necessities that humans need should be free.
If every corporation would give only 1% of their profit to the needy, then we would be in a much better world. There is enough for the worlds need...but not enough for the worlds greed.
@younitehumanity So just give people stuff so they don't have to make it or earn it themselves? Yea, that will solve the world's problems! Just enslave everyone who will work to support those who won't. Wow, your insight is stunning! What happens when nobody wants to work for free, what then? Force them to? Can't you see this is the same kind of moral hazard created around the world that destroys economies and the incentive to work? Removing responsibility won’t solve the world’s problems.
@ToSaveANationDotCom Work? For who...the Banks? Yes...every person on this planet should have the things they need for Free...if they need more, then they should work for it. I'm sick and tired of seeing children being exploited on one end of the planet so a stupid fat kid can play with some mindless stupid toy. Put yourself in the position of a 15 year old factory worker making $55/Month including overtime. Maybe your mindset will change.
@IWashMyOwnBrain So by saying that life is not fair and never will be...we should all just sit on our asses and do nothing about it? It will never be fair if people do NOTHING about it. Not sure if you have children or not, but if you do, just make sure they don't end up in a sweat shop or working at night at an EXXON gas station. If they get a degree, maybe they can get a job at Wal-Mart.
@younitehumanity that's sad though, Wal-Mart. you know there's a difference between edumacation and education. kids these days go to school to get edumacation, and they'll end up getting a low-paid job in the end. those that strive to be better than others will end up graduating in a good school with 'education', and they will be the ones that will be making big bucks and enjoy life comfortably as they can afford it. as much as this is simple thing to see. some people just can't do it. *shrugs*
@younitehumanity Corporations already give way more than 1% of their profit to the needy. It's called corporate taxes, and it's as high as 39%. It goes to the government, who then distribute it in part as social transfer payments like welfare, food stamps, medicaid, housing, foreign aid, etc. Corporate profits go to little old ladies who depend on the dividends in their retirement. Your entire concept of money is bizarre to say the least.
@jtravis282 No they don't...on what planet do you live? Where did you get this info? Corporations pay ZERO taxes. There are many Tax loop holes for Corporations...and they all take advantage of them. Welfare, medicaid, housing, foreign aid is provided by congress which takes the money from the tax payers or creates more debt by getting it from the federal reserve.
@younitehumanity What sounds more reasonable? That on average corporations paid 13%in taxes or as you contend the government recieves no money from business?
Money is nothing more than a medium of exchange. It just makes life more convenient. Without it, we would simply go to a barter system. You want that? You want bread, you go to the store and pay cash. Without money, you find a store and the owner says, I'm not going to give you that bread for free, go clean my toilets for half a loaf.
Peter thank you for your books and videos. I am Australian and I wish you the greatest of luck in your run for the Senate in your country. I just want to ask you how will you change things when you are up against people that are prepared to resort to murder if they don't get their way? I mean you are dealing with people far worse than the mafia like the fed and aipac and the cofr to name a few. They will not go without taking many along with them. Anyway you are a brave man..
well at least peter's general theory and logic were right as he explained them down to extreme details.. he just missed a couple pieces of the puzzle back in 08.. but he was relatively accurate more than i can say for any of other self proclaimed economists out there. don't even mention the ivy league so called elite economists.. just leave them in the dust and forget about them. 8 year old kids with a chemistry set could have done better than those guys at the fed in the past decade.
It’s like a game of pass the parcel, who’s going to be holding the box when the music ends.... Here is a hint “You” and the box has a huge surprise in it “DEBT”. Guess who your all going to owe the rest of your lives too, another hint “The people who created the DEBT and sold it to your goverment”.
@longtrader782 ..or....you could just watch the video that you posted on here and they can hear where Peter stated himself that he got a few things wrong. Of course from here you could also link to the videos where Peter called the Real estate downfall and BK's of AIG, Freddie, Fannie, rise in gold et 'all perfectly before it happened.
Now don't you feel like a dumb fuck for opening your mouth and removing all doubt?
Just anther dumb red-neck American. Move on people.
@longtrader782 OMG he was wrong?? He's not Nostradamus you genius. The people that follow him believe in his economic philosophy and only an idiot would think that every prediction is going to be correct. Get a life!!!
It's all going down...just following the Protocols line by line...read along as we go along the staged downward spiral to total chaos, from which a New World Order police state will emerge...alternative set text:
"The Gobalization of Poverty and the New World Order" by Michel Chossudovsky (2003)
i just uploaded a video of an oil painting that took me 5 months to finish.
i would like to get some feedback on it. so if everyone that reads this could check it out and let me know what you think it would help me out! the video is called -- monumental oil painting- from start to finish. thanks everyone!
sorry peter but rumours didnt cause the euro, or dollar, to go anywhere. markets are manipulated and centrally managed. if you didnt figure that out yet and actually buy the reason the government and/or the mainstream media gives us for these kind of market moves, you're obviously not as smart as many of us wish you would be
Have a look at your charts peter, what is happening right now lines up perfectly with what we saw before 2008! Oil is falling faster than anything imaginable, big whipsaws in the s&p and dow, Euro plumeting..... the last hing to fall off the cliff will be stocks, and they really aren't too far behind reaching their high. I see the Dow going to 11,275 withing a few months and then tanking down for the next couple years below 5,000.
Peter every country is over exposed to debt, the US problem is the worst of a bad bunch. Everyone will suffer, the question is who is better equiped to survive the coming mess. cheers
I like Peter´s honesty at the end about getting it wrong again. I think he is getting it wrong in the short term. His inflation theory is way ahead in the future, but in the short term we´re experiencing a deflationary depression as Mish Shedlock and Bob Prechter predicted. I think it´s foolish to be in equities right now.
Expected events alway take longer than you think.. When the they begin, they happen faster then you can belive... They've stolen and borrowed us into bankruptcy...Inflation is their only way out, in order to shift the blame...
Thanks Peter, you are always informative. I suppose it will only be a question of time before the Chinese lose patience... In our case Its now in the hands of a new UK coalition government to stabilise an uncertain period in our time. We are very much in unchartered waters as indeed are the rest of europe... Highly political, highly sensitive and extremely precarious.... We now turn to a relatively young prime minister who I believe will need to be bigger than Churchill!
I can not understand Chinas support for the US... I would not invest in US bond if they were pennies on the Dollar. The Hyperinflation is on its way...
@btigtime2 China produces and sells products and America is it's biggest customer.....The only thing China has to sell to the rest of the world is slave labor and if we no longer need it...........The Chinese government knows what it's currency is worth...so they buy dollars.
Government applying stimulus to the economy is no different to an individual merely applying cream (and not changing their lifestyle) in an attempt to ease the pain originating from their INFLAMED PILES.
The cream will make their piles shrink and disappear for a short period of time, although as nothing has fundamentally changed in the individuals way of life (diet et'c), it will not be long until 'POP' the piles are back again.
I'm seeing the government stimulus outside my office here in Stockholm, Sweden. They are destroying a perfectly good pavement and replacing it with a new one. There is absolutely no need for it whatsoever but a few phony unneccessary jobs were created so the politicians can pat themselves on the back and tell the voters about all the jobs they have created.
People hate it when economists always trumpet their hits but "forget" to acknowledge their misses too. It shows character and adds credibility when you do admit to not getting it right. Nice to see.
@FinancialLeverage LMAO you open your account May28 and 6/7 of your subscriptions are Schiff related who you claim is always wrong. Riiiiiiight. You are so transparent it's not even funny and I wouldn't doubt you are paid (too much) to spend all day bashing Schiff online. Problem is, Schifff's record on the fundamentals speaks for itself as you are well aware. Try again.
haha, no wonder you are a limey. you sure are dumb. schiff's record is about the worst out of all investment managers in the market. very simple logic, if he was right on his calls, he would be a mega billionaire now like warren buffett or george soros instead of running a mom and pop brokerage with 50 brokers, scamming old grannies out of their retirement money. change your name to gullibledumblimey, it fits you better.
Yep. Bonds are gonna suck. Some day. But it will be telegraphed with a bull horn from a brightly colored tour bus. Treasury rates will rise with inflation, maintaining about a 6% negative real interst rate. Wages will increase at about half that pace. Boomers will retire (and hate their bonds). And we all get to pay a national sales tax. But if we play nice, lower income taxes. At some point though, we will just get paid with ETF units....
I just cannot believe how they want to do another stimulus, they havent worked, just like the bailouts havent worked. If we had industry, if we produced materials, if we had an economy with some real quality....we might have something here. What in the U.S. demonstrates quality? our morals are down the drain, there is much quality that lacks individually & financially here.
I THINK PETER IS WRONG ABOUT THE STOCK MARKET. We will retest the march 2009 lows again. This whole fake rally was propped up by the plunge protection team and Goldman sachs high frequency black box algorithm trading There has been no volume to support this market and yet they keep propping it up!?!? When there is no support in the market, it can fall back down very quick.
One problem if the U. S. goes down so will the Worlds economy or most of it, our economy is a consumption economy, we consume and the others serve us, so if we stop consuming and buying goods to indulge ourselves the World economy will also collapse, THUS! Peter Schiff’s investments will be worthless since most of his clients portfolios are "abroad."
@lavishmedia Not so, the USA consumption will be replaced by people that create wealth such as chinese, thats already happening!!! the us as consumer of the world is a dead concept... peter is right!!!!!!!!!! the chinese are already the drivers of global growth -- especially in commodities ..soon to be consumer goods................................
@lavishmedia europeans are already slaves. They just want to bring america down, the world will be a satanic police state. No revolution. But they fail. They want this. They enjoy it. 1000 corrupt people in a row. They have the world, but they do not have us. America will no fall. The world will gather against us, but we will win. There will be no liberal in the united states. they will be killed.
@lavishmedia "our economy is a consumption economy, we consume and the others serve us". That is an unbelievably hilarious statement. So many people believe that if the U.S. stops consuming it weakens the global economy. That is obviously utter nonsense. Production is what creates prosperity, not consumption. Keynes was a total moron.
Don't France and Britain have a higher ratio of debt to GDP than the US? Last time I looked at the numbers France and Britain looked like they were deeper in the hole than the US. Correct me if I'm wrong.
@StormCloudsGathering France and Britain are not well off but the U.S. is worse. The U.S. GDP is highly inflated by consumer spending. More than 2/3 of the U.S. economy is in the service sector. Most services can't be exported. The U.S. has a very large trade deficit. So the point is, you can't just look at debt in terms of GDP. It is better to compare it to exports, which is what allows you to pay back your creditors.
@StormCloudsGathering Also the U.S. has a lot of other unfunded liabilities(social security, medicare/medicaid, potential of default in states) and off budget items(fannie and freddie). Also the U.S. is the worlds reserve currency and so there a lot of dollar held by citizens and central banks that can be dumped anytime.
Those people have no idea what the BIble speaks of. What the Gospel is, they have no idea. But they don't care. They have their Idol. They hate the truth. I can tell them, but there is one thing, They do not want to hear. I can tell them everything they say is wrong and explain to them, and show them in scripture. It doesn't matter. They are evil.
@ferret2dude the scripture says this. The righteous will see and be righteous, the wicked will see and be wicked. The righteous give praise to Jesus and to God, and wicked give praise to themselves, via sorcery. They are liars who understand nothing. They is no understaning for them. They are like pile of garbage.
Those people are all the same. They're the kind of people who think they are better because they worship an Idol. They have a hatred for Jesus. Truth. Those false christian, idol worshipper HATE JESUS. they LOVE EVIL. You can see it takes no time to prove this. They all have to be killed. It's easy to find them.
This comment has received too many negative votesshow
most of the people know the jews are evil. The loud mouthed Evil satanic selfi righteous evil false Christians who support jews, they are the shit of shit. they think they are so good for kissing evil. It's that simple. how selfrighteous are they for honoring evil? They are nothing.
@ferret2dude i'm asking you. let us know. how bout a roller coaster? you don;t ride roller coasters? that doesn't matter. surely you will die on a roller coaster. this is good enough for you?
Obama is doing everything he can to keep this phony recovery going until at least November. If they can't possibly keep it going, then they know they're screwed come November, so I think then we go to war with Iran and they pull the plug.
@MOPEDBRAD Well he is always bashing the governments handeling of the economy.....in this video he claims Europe is in better shape than the U S and that we are helping Greece to divert attantion from our problems and he called our economy phoney......what more do you need?
I have heard about rumours that the price of gold and silver will be forced down (even more than the current suppression scheme) to about USD 800 or so and thus make people panic in this process and sell their physical gold and silver.
Once the prices start to recover upwards and people wish to purchase it back again, it would be mostly gone, as it would have been absorbed...
The Fed's forcing ideas are losing potency. Remember the IMF sales and how that was supposed to force prices down ? India bought half of it and gold shot to $1227. They cant force fuck all these days.,
@4rcane just look at the business/finance media. Almost everyone think the road to prosperity is printing money and that fed/government is doing a great job. Most of the main stream economist thinks spending money is how you fix the economy, that the only problem right now is sentiment. As long as everyone is confident to go out and spend borrowed money, then the economy will somehow grow
@4rcane the only way the economy can grow is if theres savings and the saving is used to produce stuff not to consume stuff, so no matter how confident ppl are and willing to spend money to consume, nothing they do will ever grow the economy
@4rcane and investment to produce stuff will never happen with all the taxes and regulations thats coming from loca/fed government and fear that whatever profit they make will only be taken away - so whats the point
Durables, a lagging indicator, were up because of income tax returns, not new revenue...with a revised lower consumer consumption, continued high unemployment, and state and local government taxation fostering fears to take a chance on new business, its easy to see why the markets become volatile when China whispers...so have the markets accepted US currency as a junk instrument?...the US has, in excess, 3 times the dollars our economy requires...If the dollar were a stock I'd put at 33 cents...
I think Schiff is correct on his view of the Dollar. Again, see Jim Rickards on the IMF and the shift to SDRs as reserve currency at my channel and an excellent update on this story at King World News radio.
Personally, I'm staking a decent % of my capital on put options for later this year as a way to ride the decline with some healthy leverage. But don't be surprised by a stable (ish) Summer before we get going down around football season.
@Shadyhunter04 I agree on both counts. 10-15%, but with a staggering strategy...famous last words. It all depends on sentiment of course. It was more tempting before May. We'll see.
@arbitrage You think saying the Chinese are nervous about the dollar is baseless? Where have you been? They've been expressing concerns for over a year, you ass-clown. Just search the Internet for: chinese concerned dollar
Yes! Right, governments of the world will print to the end. It's what they know. They are what they do, and one thing central banks do is print money. The dollar will collapse - no doubt. BUY GOLD AND SILVER. Do yourself that favor....
Peter, I am a huge fan of Austrian economics and have been reading about Hayek's concept of competing currencies within a country and how the government should not have a monopoly over the money supply. If we allowed other banks to or institutions to make their money backed by gold, silver, oil, beer or whatever they want, do you think that would be a step in the right direction of saving the ec
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criseldaprangehkg 1 year ago
China possesses all the money in the world... problem is, it's all counterfeit! :P
garoad2 1 year ago
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"It's possible that I'm getting it wrong again." I love Peter Schiff... even though he has NAILED so many things, he admits to missing some things, and even warns against his possible future mistake. So refreshing to hear someone - especially someone so brilliant and prescient - admit their fallibility. We definitely won't hear that in the MSM.
mooseythejuiceman 1 year ago
"It's possible that I'm getting it wrong again." I love Peter Schiff... even though he has NAILED so many things, he admits to missing some things, and even warns against his possible future mistake. So refreshing to hear someone - especially someone so brilliant and prescient - admit their fallibility. We definitely won't hear that in the MSM.
mooseythejuiceman 1 year ago 2
@mooseythejuiceman
he is a moron who is perennially wrong.
FinancialLeverage 1 year ago
@FinancialLeverage
it's not nice to call everybody here a moron or dumb !
Put your own Video in YT , let us rate your opinions !!
arka67 1 year ago
@arka67
i'd love to but your IQ would have to be over 140 to view my videos so i guess you wouldn't be able to qualify.
FinancialLeverage 1 year ago
@FinancialLeverage
I bet $100, idiot like you have no idea how to put a camera ON......
arka67 1 year ago
@arka67
and i bet $100, dumb pollack like you have no idea how to construct sentence hahahahaha.
did you swim to canada?
FinancialLeverage 1 year ago
@FinancialLeverage
how is your camera ?? do you need instruction book to put it on....
why, can't we see your face ?? you are so brave with your mouth... put your face on , so we can see you !!
arka67 1 year ago
@arka67 shut up you melon head. Disrespectful d-bag.
Ascended111111 1 year ago
@Ascended111111
I am speaking to FinancialLeverage, read first before criticizing !!!
arka67 1 year ago
@arka67 I know you were, but before i realized it, it was too late. Apologies.
Ascended111111 1 year ago
it appears that the euro is correcting the bull rally it had for 8 years straight. We are in a c wave that will finish much lower. A great time to buy eur/usd at the end of the year for a long term target of 1.50 -1.80
TradeWorth 1 year ago
watch and subscribe to my channel to see both sides of Peter's argument!
truthislibertyus 1 year ago
if you read this Mr. Schiff: i have learn a lot from you and start study by myself about economics ,this should motivate a lot of Americans do so to make the proper decisions not only for themselves but for the country too. we killing our own economy by printing more money, moving factory's to other country's , bailing out rich people and rising minimum wages too kill low skill jobs. many of the stuff that you said i just common sense!!. Blessings!
joypr12 1 year ago 3
@joypr12
schiff for senate: epic fail
schiff on economics: even more epic fail
FinancialLeverage 1 year ago
Schiff 2010!
RunLiberty 1 year ago 2
Go king dollar....
IWashMyOwnBrain 1 year ago
great video
a4finger 1 year ago
no matter how tall your hair is it is still receding. Shave it baby!
andrew913s 1 year ago
People still love that dollar tho. When things get edgy they run to the dollar and bonds amazingly. It is going to take a major mind shift to change this. Gold is doing better tho during the "scary" days.
pismo10 1 year ago
Hey Peter, could you comment on China's housing bubble? Li Daokui, adviser to the People's Bank of China, claims their bubble is even worse than the US housing bubble ever was. So many people are being priced out of the market that it's preventing urbanization and creating social unrest.
Everyone seems to think China's economy will crash, that it has an unsustainable credit bubble which will burst, thus preventing the global economy from recovering.
rxbladess 1 year ago
Yeah the government props up the housing market while the rest of us newcomers to owning houses get shafted because the prices are ridiculously high and overinflated. Sorry, but I haven't been working for 20 years to be able to afford a pathetically overinflated house which costs way more than its worth. I was looking forward to house prices falling more but of course the gov decided that big financial businesses are 'to big to fail' and deserve a second chance for their idiotic & risky gambling
addiktion13 1 year ago
guy still can't afford an HD camera to take his picture. Lameo... things stuff sound better when the eye is distracted. Grainy picture = grainy message. First impressions do matter Mr. Schiff.
robertk2010 1 year ago
@robertk2010 what silliness, then it would take longer to load, looks ok to me
silversunny 1 year ago
Money is the problem...not Europe, China or the U.S. It's ALL about the MONEY! End Money and we won't have this Mess. Money is responsible for greed, corruption, crimes, poverty, famine, war, death. Who needs it? You can't eat it...it provides Zero Comfort. Money is Dog Shit!
younitehumanity 1 year ago 2
@younitehumanity
I could not agree more. I hate money and I only use it and work for it because everyone else is convinced that it's what they need to survive.
KodoTheShoe 1 year ago
@younitehumanity Money is just a scorecard....competition survival of the fittest is what rules this world it's evolution that is how the world works adaptation to changing enviroments. Money is just a tool you cant change how nature works.....
IWashMyOwnBrain 1 year ago
@IWashMyOwnBrain As long as we have a monetary system...there will be inbalance on this planet. All nations could share their resources with other nations and only create jobs that will manufacture the things we need like Food, clothing, housing, transportation. Basic necessities that humans need should be free.
If every corporation would give only 1% of their profit to the needy, then we would be in a much better world. There is enough for the worlds need...but not enough for the worlds greed.
younitehumanity 1 year ago
@younitehumanity So just give people stuff so they don't have to make it or earn it themselves? Yea, that will solve the world's problems! Just enslave everyone who will work to support those who won't. Wow, your insight is stunning! What happens when nobody wants to work for free, what then? Force them to? Can't you see this is the same kind of moral hazard created around the world that destroys economies and the incentive to work? Removing responsibility won’t solve the world’s problems.
ToSaveANationDotCom 1 year ago
@ToSaveANationDotCom Work? For who...the Banks? Yes...every person on this planet should have the things they need for Free...if they need more, then they should work for it. I'm sick and tired of seeing children being exploited on one end of the planet so a stupid fat kid can play with some mindless stupid toy. Put yourself in the position of a 15 year old factory worker making $55/Month including overtime. Maybe your mindset will change.
younitehumanity 1 year ago
@younitehumanity Life is not fair and never will be...
IWashMyOwnBrain 1 year ago
@IWashMyOwnBrain So by saying that life is not fair and never will be...we should all just sit on our asses and do nothing about it? It will never be fair if people do NOTHING about it. Not sure if you have children or not, but if you do, just make sure they don't end up in a sweat shop or working at night at an EXXON gas station. If they get a degree, maybe they can get a job at Wal-Mart.
younitehumanity 1 year ago
@younitehumanity There is nothing you can do about it ..so calm down Beavis.
IWashMyOwnBrain 1 year ago
@younitehumanity that's sad though, Wal-Mart. you know there's a difference between edumacation and education. kids these days go to school to get edumacation, and they'll end up getting a low-paid job in the end. those that strive to be better than others will end up graduating in a good school with 'education', and they will be the ones that will be making big bucks and enjoy life comfortably as they can afford it. as much as this is simple thing to see. some people just can't do it. *shrugs*
LeeRyan2930 1 year ago
@younitehumanity Corporations already give way more than 1% of their profit to the needy. It's called corporate taxes, and it's as high as 39%. It goes to the government, who then distribute it in part as social transfer payments like welfare, food stamps, medicaid, housing, foreign aid, etc. Corporate profits go to little old ladies who depend on the dividends in their retirement. Your entire concept of money is bizarre to say the least.
jtravis282 1 year ago
@jtravis282 No they don't...on what planet do you live? Where did you get this info? Corporations pay ZERO taxes. There are many Tax loop holes for Corporations...and they all take advantage of them. Welfare, medicaid, housing, foreign aid is provided by congress which takes the money from the tax payers or creates more debt by getting it from the federal reserve.
younitehumanity 1 year ago
@younitehumanity
"...between 2000 and 2005, on average, while corporations in the United States paid 13.4 percent."
U.S. Department of the Treasury, “Treasury Conference on Business Taxation and Global Competitiveness: Background Paper,” July 23, 2007
jtravis282 1 year ago
@jtravis282 I guess because it is on a piece of paper...then it must be true.
younitehumanity 1 year ago
@younitehumanity What sounds more reasonable? That on average corporations paid 13%in taxes or as you contend the government recieves no money from business?
Money is nothing more than a medium of exchange. It just makes life more convenient. Without it, we would simply go to a barter system. You want that? You want bread, you go to the store and pay cash. Without money, you find a store and the owner says, I'm not going to give you that bread for free, go clean my toilets for half a loaf.
jtravis282 1 year ago
Peter, you have a message waiting for you on your phone.
Downfacingdog 1 year ago
This is exactly why we need you to win in CT!
jusstapatriot 1 year ago
Peter thank you for your books and videos. I am Australian and I wish you the greatest of luck in your run for the Senate in your country. I just want to ask you how will you change things when you are up against people that are prepared to resort to murder if they don't get their way? I mean you are dealing with people far worse than the mafia like the fed and aipac and the cofr to name a few. They will not go without taking many along with them. Anyway you are a brave man..
TheDarchorse 1 year ago
I would like to hear PS comenting how the free markets solve the problem of BP.
Anyways, PS does not understand what these cuts in Europe are for, and what they are cutting.
I agree both currency will collapse: Euro and Dollar.
I wish him the best for his Senate race.
agfigueroaa 1 year ago
well at least peter's general theory and logic were right as he explained them down to extreme details.. he just missed a couple pieces of the puzzle back in 08.. but he was relatively accurate more than i can say for any of other self proclaimed economists out there. don't even mention the ivy league so called elite economists.. just leave them in the dust and forget about them. 8 year old kids with a chemistry set could have done better than those guys at the fed in the past decade.
spyletu 1 year ago
It’s like a game of pass the parcel, who’s going to be holding the box when the music ends.... Here is a hint “You” and the box has a huge surprise in it “DEBT”. Guess who your all going to owe the rest of your lives too, another hint “The people who created the DEBT and sold it to your goverment”.
knebauz 1 year ago
I want Peter Schiff to have a debate with Zeldovich, aka the Peter Schiff hater. It should be fun.
PAZ0619 1 year ago
Paul/Schiff 2012 !!!
ALittleBitPregnant 1 year ago
This has been flagged as spam show
Check out The new Melody Song made for Ellen!
~ The Sun Shine Song
I am 15 years old and live in Canada, Winnipeg
Mindofownz 1 year ago
We are finaly reducing govt expenditure in Europe... It's about time... I'm waiting for my own country (France) to do so...
Melpheos1er 1 year ago
I'm putting my money in a printer ink factory. They bustards must have all the money.
tubester4567 1 year ago
Go to my channel to see why Peter schiff was wrong!!!!
longtrader782 1 year ago
@longtrader782 ..or....you could just watch the video that you posted on here and they can hear where Peter stated himself that he got a few things wrong. Of course from here you could also link to the videos where Peter called the Real estate downfall and BK's of AIG, Freddie, Fannie, rise in gold et 'all perfectly before it happened.
Now don't you feel like a dumb fuck for opening your mouth and removing all doubt?
Just anther dumb red-neck American. Move on people.
mcdonaldscalling21 1 year ago 8
@longtrader782 OMG he was wrong?? He's not Nostradamus you genius. The people that follow him believe in his economic philosophy and only an idiot would think that every prediction is going to be correct. Get a life!!!
Ellipsis10 1 year ago 5
@Ellipsis10 I agreed with u
leone20012 1 year ago
one more run up, then it all falls apart, get ready folks
offdaheez 1 year ago
I wish you were the president...
Not that puppet!!!
Lele19800 1 year ago
like nixon said: "deficits don't matter", as long as the players want the dollar to be strong , it will continue on.
kevink040 1 year ago
yo schiff wat do u think bout things like Illuminati???????
IntellectualPrestige 1 year ago
It's all going down...just following the Protocols line by line...read along as we go along the staged downward spiral to total chaos, from which a New World Order police state will emerge...alternative set text:
"The Gobalization of Poverty and the New World Order" by Michel Chossudovsky (2003)
Tressco 1 year ago
hey everyone!
i just uploaded a video of an oil painting that took me 5 months to finish.
i would like to get some feedback on it. so if everyone that reads this could check it out and let me know what you think it would help me out! the video is called -- monumental oil painting- from start to finish. thanks everyone!
N8wood1 1 year ago
sorry peter but rumours didnt cause the euro, or dollar, to go anywhere. markets are manipulated and centrally managed. if you didnt figure that out yet and actually buy the reason the government and/or the mainstream media gives us for these kind of market moves, you're obviously not as smart as many of us wish you would be
stoneeh 1 year ago
BP waited till the weekend to declair top kill a failure.....Ralley on Tuesday....lol
IWashMyOwnBrain 1 year ago
gold and silver is the biggest ponzi scheme since Bernie Madoff.
pulsescan72 1 year ago
Have a look at your charts peter, what is happening right now lines up perfectly with what we saw before 2008! Oil is falling faster than anything imaginable, big whipsaws in the s&p and dow, Euro plumeting..... the last hing to fall off the cliff will be stocks, and they really aren't too far behind reaching their high. I see the Dow going to 11,275 withing a few months and then tanking down for the next couple years below 5,000.
qualm43 1 year ago
@qualm43
agreed. however i would not be surprised to see dow 15,000 before that. it just depends on how long they can keep this market propped up?
pulsescan72 1 year ago
stocks do ok when a currency dies, but yea bonds get raped.
twistedbydsign99 1 year ago
arbitragge,you're an idiot
jumpers3 1 year ago
Anyone understand what he said at 9.07 regarding equities- it sounded like vividity?
loai050 1 year ago
"...a final head-fake before they take the dollar down for the count."
Peter's got some funny allegories.
*imagines Ben Bernanke hitting a punching while Rocky theme plays*
AngryPenguin27 1 year ago
Peter every country is over exposed to debt, the US problem is the worst of a bad bunch. Everyone will suffer, the question is who is better equiped to survive the coming mess. cheers
cityslickeroz 1 year ago
Hey Everybody, it's Peter Schiff.
gatorbait20082008 1 year ago
Your videos are very thought provoking--cheers Peter.
Shiny suit by the way!
herzogsbuick 1 year ago
I like Peter´s honesty at the end about getting it wrong again. I think he is getting it wrong in the short term. His inflation theory is way ahead in the future, but in the short term we´re experiencing a deflationary depression as Mish Shedlock and Bob Prechter predicted. I think it´s foolish to be in equities right now.
haveabeer123 1 year ago
Expected events alway take longer than you think.. When the they begin, they happen faster then you can belive... They've stolen and borrowed us into bankruptcy...Inflation is their only way out, in order to shift the blame...
rnade 1 year ago
Search For
"CIA NEW FIASCO"
hilarious
eliasmouawad 1 year ago
Thanks Peter, you are always informative. I suppose it will only be a question of time before the Chinese lose patience... In our case Its now in the hands of a new UK coalition government to stabilise an uncertain period in our time. We are very much in unchartered waters as indeed are the rest of europe... Highly political, highly sensitive and extremely precarious.... We now turn to a relatively young prime minister who I believe will need to be bigger than Churchill!
orwashepushed 1 year ago 2
sell now !
they will bring the market down .
cosmicguerilla1 1 year ago
I can not understand Chinas support for the US... I would not invest in US bond if they were pennies on the Dollar. The Hyperinflation is on its way...
btigtime2 1 year ago
@btigtime2 China produces and sells products and America is it's biggest customer.....The only thing China has to sell to the rest of the world is slave labor and if we no longer need it...........The Chinese government knows what it's currency is worth...so they buy dollars.
IWashMyOwnBrain 1 year ago
Not enough "money" to cover all the governs debt. That means something
BITARTEN 1 year ago
Government applying stimulus to the economy is no different to an individual merely applying cream (and not changing their lifestyle) in an attempt to ease the pain originating from their INFLAMED PILES.
The cream will make their piles shrink and disappear for a short period of time, although as nothing has fundamentally changed in the individuals way of life (diet et'c), it will not be long until 'POP' the piles are back again.
By which time they will be all the more PAINFULL.
NowisEvollovetion 1 year ago
If you support Peter and his message, take some time to visit his page and donate whatever you can!
REOGURU 1 year ago 3
I'm seeing the government stimulus outside my office here in Stockholm, Sweden. They are destroying a perfectly good pavement and replacing it with a new one. There is absolutely no need for it whatsoever but a few phony unneccessary jobs were created so the politicians can pat themselves on the back and tell the voters about all the jobs they have created.
gnuochtapir 1 year ago
People hate it when economists always trumpet their hits but "forget" to acknowledge their misses too. It shows character and adds credibility when you do admit to not getting it right. Nice to see.
theslimeylimey 1 year ago 39
@theslimeylimey Good point.
Truthpolice9698 1 year ago
@theslimeylimey
then he should admit more often since he is perennially wrong.
FinancialLeverage 1 year ago
@FinancialLeverage LMAO you open your account May28 and 6/7 of your subscriptions are Schiff related who you claim is always wrong. Riiiiiiight. You are so transparent it's not even funny and I wouldn't doubt you are paid (too much) to spend all day bashing Schiff online. Problem is, Schifff's record on the fundamentals speaks for itself as you are well aware. Try again.
theslimeylimey 1 year ago 2
@theslimeylimey
haha, no wonder you are a limey. you sure are dumb. schiff's record is about the worst out of all investment managers in the market. very simple logic, if he was right on his calls, he would be a mega billionaire now like warren buffett or george soros instead of running a mom and pop brokerage with 50 brokers, scamming old grannies out of their retirement money. change your name to gullibledumblimey, it fits you better.
FinancialLeverage 1 year ago
Yep. Bonds are gonna suck. Some day. But it will be telegraphed with a bull horn from a brightly colored tour bus. Treasury rates will rise with inflation, maintaining about a 6% negative real interst rate. Wages will increase at about half that pace. Boomers will retire (and hate their bonds). And we all get to pay a national sales tax. But if we play nice, lower income taxes. At some point though, we will just get paid with ETF units....
WGS669 1 year ago
I am planning to start raising chickens in my back yard. I am also intend to start a vegetable garden.
Pnkbong 1 year ago 2
Bought my Junk Silver, Now buying bullion and bars!
iforgotization 1 year ago 2
watch the documentary 'Consume This Movie.' Very good.
vociti 1 year ago
I just cannot believe how they want to do another stimulus, they havent worked, just like the bailouts havent worked. If we had industry, if we produced materials, if we had an economy with some real quality....we might have something here. What in the U.S. demonstrates quality? our morals are down the drain, there is much quality that lacks individually & financially here.
XxgoetfacexX 1 year ago
You look very nice in those colors. They brighten your face.
siszam 1 year ago
I THINK PETER IS WRONG ABOUT THE STOCK MARKET. We will retest the march 2009 lows again. This whole fake rally was propped up by the plunge protection team and Goldman sachs high frequency black box algorithm trading There has been no volume to support this market and yet they keep propping it up!?!? When there is no support in the market, it can fall back down very quick.
ibislee 1 year ago
Nice tie Peter.
shouldlistentoronpau 1 year ago
i'm thinking Ice meteor is good. where the fuck that come from? blam!
nVei06 1 year ago
Peter should stop trying to pick the next crisis. we all know the dollar is going to zero, the middle is anybodies guess.
ric0rich 1 year ago
how about keeping the video short
maharajakal 1 year ago
Comment removed
Magmaman26 1 year ago
I will destroy Taipei, then the Chinese will understand. There will be no liberals.
nVei06 1 year ago
Sorry, we have record sales in guns, and those people don't like the liberal. They know they're evil. And i will kill them. They'll know.
nVei06 1 year ago
@nVei06 I will kill them with plague and famine. This is true. The wind will do as i command.
nVei06 1 year ago
@nVei06 Not that i'm going to hit Taipie with pandemic. That i would use ice meteor or something natural. BIG
nVei06 1 year ago
I would have majored in Economics if my professors were half this good.
heymisterderp 1 year ago 35
One problem if the U. S. goes down so will the Worlds economy or most of it, our economy is a consumption economy, we consume and the others serve us, so if we stop consuming and buying goods to indulge ourselves the World economy will also collapse, THUS! Peter Schiff’s investments will be worthless since most of his clients portfolios are "abroad."
lavishmedia 1 year ago
@lavishmedia Not so, the USA consumption will be replaced by people that create wealth such as chinese, thats already happening!!! the us as consumer of the world is a dead concept... peter is right!!!!!!!!!! the chinese are already the drivers of global growth -- especially in commodities ..soon to be consumer goods................................
rinomarsala 1 year ago
@lavishmedia europeans are already slaves. They just want to bring america down, the world will be a satanic police state. No revolution. But they fail. They want this. They enjoy it. 1000 corrupt people in a row. They have the world, but they do not have us. America will no fall. The world will gather against us, but we will win. There will be no liberal in the united states. they will be killed.
nVei06 1 year ago
@lavishmedia "our economy is a consumption economy, we consume and the others serve us". That is an unbelievably hilarious statement. So many people believe that if the U.S. stops consuming it weakens the global economy. That is obviously utter nonsense. Production is what creates prosperity, not consumption. Keynes was a total moron.
ecnerwal999 1 year ago
@ecnerwal999 keynes was worried about inflation also, but he died before he could elaborate on that so maybe we just misinterpret keynes
delatroy 1 year ago
Don't France and Britain have a higher ratio of debt to GDP than the US? Last time I looked at the numbers France and Britain looked like they were deeper in the hole than the US. Correct me if I'm wrong.
StormCloudsGathering 1 year ago
@StormCloudsGathering France and Britain are not well off but the U.S. is worse. The U.S. GDP is highly inflated by consumer spending. More than 2/3 of the U.S. economy is in the service sector. Most services can't be exported. The U.S. has a very large trade deficit. So the point is, you can't just look at debt in terms of GDP. It is better to compare it to exports, which is what allows you to pay back your creditors.
ecnerwal999 1 year ago
@StormCloudsGathering Also the U.S. has a lot of other unfunded liabilities(social security, medicare/medicaid, potential of default in states) and off budget items(fannie and freddie). Also the U.S. is the worlds reserve currency and so there a lot of dollar held by citizens and central banks that can be dumped anytime.
ecnerwal999 1 year ago
That would be funny if the NWO currency is called the globalo...LOL!
AllahConsciousness 1 year ago
This has been flagged as spam show
you are finished.
nVei06 1 year ago
@nVei06 As are We all in the end. TIME leaves no man alive.
ferret2dude 1 year ago
How would you like to go?
nVei06 1 year ago
Those people have no idea what the BIble speaks of. What the Gospel is, they have no idea. But they don't care. They have their Idol. They hate the truth. I can tell them, but there is one thing, They do not want to hear. I can tell them everything they say is wrong and explain to them, and show them in scripture. It doesn't matter. They are evil.
nVei06 1 year ago
@nVei06 I do wonder what scripture says. But it is not easy to understand for Me.
ferret2dude 1 year ago
@ferret2dude the scripture says this. The righteous will see and be righteous, the wicked will see and be wicked. The righteous give praise to Jesus and to God, and wicked give praise to themselves, via sorcery. They are liars who understand nothing. They is no understaning for them. They are like pile of garbage.
nVei06 1 year ago
This has been flagged as spam show
Those people are all the same. They're the kind of people who think they are better because they worship an Idol. They have a hatred for Jesus. Truth. Those false christian, idol worshipper HATE JESUS. they LOVE EVIL. You can see it takes no time to prove this. They all have to be killed. It's easy to find them.
nVei06 1 year ago
This comment has received too many negative votes show
most of the people know the jews are evil. The loud mouthed Evil satanic selfi righteous evil false Christians who support jews, they are the shit of shit. they think they are so good for kissing evil. It's that simple. how selfrighteous are they for honoring evil? They are nothing.
nVei06 1 year ago
@nVei06 I will meet you on the battle field my enemy... May the God who made all things have us kill each other for our sins.
ferret2dude 1 year ago
@ferret2dude Nah, i'll just smite you with the Hand of God.
nVei06 1 year ago
@ferret2dude i'm asking you. let us know. how bout a roller coaster? you don;t ride roller coasters? that doesn't matter. surely you will die on a roller coaster. this is good enough for you?
nVei06 1 year ago
@nVei06 Not at all... By the hand of a warrior. An Honorable Death.
ferret2dude 1 year ago
@ferret2dude Perhaps You? I think not.
ferret2dude 1 year ago
@ferret2dude by My honor, i will slay you. See.
nVei06 1 year ago
Obama is doing everything he can to keep this phony recovery going until at least November. If they can't possibly keep it going, then they know they're screwed come November, so I think then we go to war with Iran and they pull the plug.
seanboy80 1 year ago
Peter you should move to Europe they love all your anti- American talk......
IWashMyOwnBrain 1 year ago
@IWashMyOwnBrain What anti-American talk do you speak of?
I have been a subscriber to this channel for a long time, and never hear him say anything anti-American...
MOPEDBRAD 1 year ago 2
@MOPEDBRAD Well he is always bashing the governments handeling of the economy.....in this video he claims Europe is in better shape than the U S and that we are helping Greece to divert attantion from our problems and he called our economy phoney......what more do you need?
IWashMyOwnBrain 1 year ago
@IWashMyOwnBrain The government is, and has been, doing a horrible job with the economy for decades.
Europe is slightly more fiscally sound than the U.S. currently.
His dissent is very patriotic. He is fuming mad at the blundering fools in Washington like the vast majority of the citizenry.
I understand where you're coming from, but sometimes dissent is the most noble patriotism.
He's not rooting for the dollar to collapse, but he sees no one in our government doing anything to save it.
MOPEDBRAD 1 year ago 4
@MOPEDBRAD Yes anti-American is the wrong term.....i just see the world economy a diffrent way.
IWashMyOwnBrain 1 year ago
@IWashMyOwnBrain WOW! Normally people just call me a poopy-face... It's good to see there's a few grown-ups on youtube.
MOPEDBRAD 1 year ago
@MOPEDBRAD Constructive criticism is "anti-american" if you haven't noticed.
Darusdei 1 year ago
Well Peter I agree with you...
The Dollar is the tallest midget right now, but who knows when things will change
it's could be 10+yrs before people flee out of the dollar
john5246 1 year ago 2
@john5246 lol i like the way you said it "tallest midget"
sharinganclan213 1 year ago
The problems with the Eurozone are political not economic.....that is why America is more stable.....
IWashMyOwnBrain 1 year ago
Great vid Peter. Love your work. I think you are spot on with your prediction.
PlatinumGordon 1 year ago
buy gold and silver
gone556 1 year ago 26
@gone556
I have heard about rumours that the price of gold and silver will be forced down (even more than the current suppression scheme) to about USD 800 or so and thus make people panic in this process and sell their physical gold and silver.
Once the prices start to recover upwards and people wish to purchase it back again, it would be mostly gone, as it would have been absorbed...
elboertjie 1 year ago
@elboertjie
The Fed's forcing ideas are losing potency. Remember the IMF sales and how that was supposed to force prices down ? India bought half of it and gold shot to $1227. They cant force fuck all these days.,
Harshjones 1 year ago
@gone556 gold is higher than its been, thats a bad time to buy.
twistedbydsign99 1 year ago
@twistedbydsign99 not if it keeps moving up then it would be a good time to buy
gone556 1 year ago
I think there will be another 2008 crash. Peter Schiff constantly overestimate the intelligent of other investors/economist/china knowing what to do
4rcane 1 year ago
@4rcane just look at the business/finance media. Almost everyone think the road to prosperity is printing money and that fed/government is doing a great job. Most of the main stream economist thinks spending money is how you fix the economy, that the only problem right now is sentiment. As long as everyone is confident to go out and spend borrowed money, then the economy will somehow grow
4rcane 1 year ago
@4rcane the only way the economy can grow is if theres savings and the saving is used to produce stuff not to consume stuff, so no matter how confident ppl are and willing to spend money to consume, nothing they do will ever grow the economy
4rcane 1 year ago 2
@4rcane and investment to produce stuff will never happen with all the taxes and regulations thats coming from loca/fed government and fear that whatever profit they make will only be taken away - so whats the point
4rcane 1 year ago
Peter has to stop telling the truth or elsethe gov will not be able to pay off the media any more.
larnem 1 year ago
Durables, a lagging indicator, were up because of income tax returns, not new revenue...with a revised lower consumer consumption, continued high unemployment, and state and local government taxation fostering fears to take a chance on new business, its easy to see why the markets become volatile when China whispers...so have the markets accepted US currency as a junk instrument?...the US has, in excess, 3 times the dollars our economy requires...If the dollar were a stock I'd put at 33 cents...
imataxslave 1 year ago
@imataxslave In my cathartic episode, I forgot to wish you and yours a Happy Memorial Day Peter...Good luck with your petitions!
imataxslave 1 year ago
I think Schiff is correct on his view of the Dollar. Again, see Jim Rickards on the IMF and the shift to SDRs as reserve currency at my channel and an excellent update on this story at King World News radio.
Personally, I'm staking a decent % of my capital on put options for later this year as a way to ride the decline with some healthy leverage. But don't be surprised by a stable (ish) Summer before we get going down around football season.
MarcusCMarcellus 1 year ago
@MarcusCMarcellus What % is that? Call options kind of blow when you get your timing wrong but the possible payback seems so tempting.
Shadyhunter04 1 year ago
@Shadyhunter04 I agree on both counts. 10-15%, but with a staggering strategy...famous last words. It all depends on sentiment of course. It was more tempting before May. We'll see.
MarcusCMarcellus 1 year ago
What's with the Bat-Phone flashing in the background?
johnstonsimon 1 year ago
@johnstonsimon
That's easy, the commish is trying to get some market insight
BrutusBlackest 1 year ago
The single reason we have not proceeded with 2008 part 2; MANIPULATION.
143DREWID 1 year ago
1 Trillion stimulus coming our way.
helpendthefed 1 year ago
@arbitrage You think saying the Chinese are nervous about the dollar is baseless? Where have you been? They've been expressing concerns for over a year, you ass-clown. Just search the Internet for: chinese concerned dollar
nakedrat 1 year ago
awesome report. complete with the old head fake.
kmuthart 1 year ago
$79 billion dollar stimulus Peter. House passed it today.
drshock18 1 year ago
@arbitrage when your mother dies of cancer, we will see how tough you are
HumanAccount 1 year ago
Yes! Right, governments of the world will print to the end. It's what they know. They are what they do, and one thing central banks do is print money. The dollar will collapse - no doubt. BUY GOLD AND SILVER. Do yourself that favor....
clearasvodka 1 year ago 2
@clearasvodka crap, save your money - nothing is going to happen, they will fudge it if and when they need to.
dikkydoo1 1 year ago
Peter, I am a huge fan of Austrian economics and have been reading about Hayek's concept of competing currencies within a country and how the government should not have a monopoly over the money supply. If we allowed other banks to or institutions to make their money backed by gold, silver, oil, beer or whatever they want, do you think that would be a step in the right direction of saving the ec