I didn't know what the fuck this guy was talking about off the start and I was thinking he was stupid. But holy shit did he nail it at the end. I completely agree with him and he is a person who gets it. I'm also questioning my ability to gauge people's intelligence.
Hi. Aprox by the year 2020 a laptop will reach the human brain potential for processing data which means that there is a huge market waiting for hundreds of billions dollars to be sold or invested in humanoid robots and intelligent systems and the beginning of the bigger industry ever maid in human history. Search on Google luisbeck007 you will find the most complete humanoid robot list in the World, good information and interesting issues.
Great, most have evolved but some want to go back to simpler days. Gold standards etc. I would love to have a pocket full of silver for the shopping. Stick to market forecasts. Stay out of politics please! Ron Paul too! Nice men with no idea of modern commerce. Check out my 2 vids
Gold is not the barbarous relic, rather, central banking is. Why try and prop up a failing system? Banks crash, have crashed, and will crash, because our financial system is induced to implode in a pyramid of debt that arises not just from control of interest rate but because FRB, allowed by Fiat money, runs with distorted interest rates in increasing credit-but because the price increases are NOT even, the boom, false sense of prosperity, develops that ends when the drunkenness ends. Hello bust
I don't think it's an overreaction. I would keep away from Dubai. It was known a long time ago that Dubai was going down. There was news of people abandoning their cars at the airport about 6 months ago. The property is worth very little because the land mass is very small. Dubai invested its money in becoming the entertainment and financial center of the ME and the world.
Subsidized by the US government jc8ward. China will follow the US in the green economy subsidized by the US. US will fund the projects, and the jobs will be exported to China. Lol. Tell me this, could the industrial revolution happen in the US under this fiat monetary system? No. There was always outsourced productivity. British East India Company for example. China has money to invest, and buy up stuff on global stage. They actually have money.
A Libertarian wouldn't support government spending. And thats commentary on another country having loads of reserve currency, not just the government.
@blingbling65943 what China is also is investing in doing oil and gas deals with India and other oil producing countries. Investing in hard assets. That is better than holding too much fiat money.
If the names on Wall St. were Franky, Giuseppi, Mama Mia, Pesto, Linguini van Scampi, Pappa Pia, Giacomo, Lasagne, Spaghetti, Rigatoni, Mamma Leoni, Maria, Sicilia, Ying, Chang, Chong, Wing, Fing, Fang, Fong, Wong, Duck Dong, Hing, or Chen they'd be calling the white shoe'd boys the Mafia.
He should retract this -- it was right for about 24 hours. Then UAE said guess what rest of the world we have way more than 85 billion in oil money to easily cover this. My question where is Schiff's DOW 4,000 by the end of 2009 prediction. Everyone wants to say how great of a predictor he is but won't call him out when he is wrong. I agree with a lot of what he say but the Church of Peter Schiff drives me crazy.
There is no leveraging in gold. You may lose money if you are speculator, and trying to time markets, but nothing that would be a disaster. If the dollar goes up, that simply means gold is priced in appreciated dollars. That's it. Gold is a store of value. It's real money because of it. Heh.
Chevy makes the best trucks in the world, GM has the best cars too. Just look at the Grand Prix... sexy, powerful, I rather buy it than a lexis, bmw, benz, audi....the upkeeps is better and more affordable.
Health care and isurance, will give certainty to businesses.
Wallstreest was the cause, starting with "derivatives".and on.
dollar still sought out by the world, otherwise China would not buy it.
This can be complicated stuff, but currency prices are all relative, just because the EURO is worth $1.48 doesn't mean that that the EURO is worth more then the Dollar. It doesn't work that way.
Its based alot more on where prices have been, but even that is only half the story.
"As fire (heat) is the direct cause of cooking, so knowledge and not any other form of discipline, is the direct cause of liberation; for liberation cannot be attained without knowledge...Action cannot destroy ignorance, for it is not in conflict with ignorance. Knowledge alone destroys ignorance, as light destroys dense darkness." — Roy Davis: "The Path of Soul Liberation"
Iwashyownbrain has some good points......I have been reading where China and the USA have been privately fighting over the right to keep their currencies low....it seems the long-term benefits of a weak currency outweigh the benefits of a strong currency.....that must be understood within reason
Ben Benanke is responsible not lowering interest rates when intelligent Americans, like myself, saw the signs of our current depression approaching. Terminate Ben Bernanke! Then, audit the Federal Reserve; force their transparency.
Hey Pete.......why dont you give the big picture of the world markets instead of constantly focusing in on the USA.....it really appears your buggest following is anti-american haters ........spread your alarmist tripe and give the facts on all economies
"We the people ...," The Preamble, the first words of the Constitution. For many years the politicians in Washington have assumed the American people were "sheep" to be led in any direction they saw fit. This assumption is and was a mistake.
lol zztwp. Well my friend, from where I sit this assumption has been working for a long time now, and it seems to me all the posturing by the pee-ons isn't going to change it either.
Total fluff, and yes of course you're all sheep, and no, 300 words in a Peter Schiff comment section isn't going to change it either. Get real, "the people" have zero power anymore.
year after year I realize, how much we take for granted the awesomeness of our country and its value.
Most people in the world would love to move to this country for a better life. ( maybe have a "vacation" now and then back in their homeland) But most want their children to come live and study in the USA. We have better homes, better grocery stores, better schools, better universities, better movie theaters, better, roads, better business environment ( even w.taxes)... better , better, better
Yes better for sure. Peter seams to attract a bunch of America bashers. What they fail to see is how great our system is it gets out of balance at times but always corrects itself.
(1) Corrects itself? It didn't correct itself, it was bailed out by the same government that swore it would never intervene in the economy... And that was an utter humiliation for an ultra capitalist like GW Bush, who many are saying he was the source of this collapse, and for you all Americans in general, who support and are proud of your system.
The world crisis was caused by the excessive deregulation created over the years, it looks like you forgot all about the Great Depression and are
(2) committing exactly the same mistakes. Roosevelt did create some regulatory laws after the Great Depression, which were dropped in the past 20 or so years (being the GW Bush the most enthusiastic about the deregulation) , and bam, another financial crisis... If one thing was learned (or re-learned if you like) with this financial crisis is that wild capitalism with a total deregulated marked, without or almost without state supervision does not work.
The financial crisis in the U S that has effected the world was caused by government interferance in housing loans not deregulation. It was congress who wanted more affordable housing and forced freddy and fannie to accept way too risky loans that ultimately failed. Government needs to stay out of the free market not regulate it.
No, freddy and fannie did NOT cause the recent financial crisis, nor did they cause the housing bubble.
For someone who says they are not brain washed, you sound a hell of alot like those idiots who are.
I know you didn't come to your conclusions on your own, based on your own evaluation of the facts, your repeating what you heard, you were brain washed.
Those people lied to you because they think your stupid, looks like they were right
Actually blingbling, they were buying up questionable mortgages which were rated by a securities rating agency cartel, which only three of them could do this. Taxes were distortional on capital gains home sales. Also Greenspan made it clear that he couldn't prevent bubbles, but only could soften the bursting of bubbles. Basically saying, he will come to the rescue. Many factors created the bubble are result of mixed economy. Not raw capitalism fault. You also had legislation for more leverage.
This is why it's important for the economy to decentralized as much as possible. FDIC, and other entities as well as incentives, and regulations only distort trajectories of an economy, and not for the better, because less face it, bureaucrats know nothing about economics, so for them to make legislation, and regulate is only a recipe for economic disaster. Also the Fed has been creating bubbles lately, because they over react to deflationary fears, and always try to stimulate creating bubbles.
Its a shame that a current superpower is on a huge massive debt, while their good old Maoist socialist neighbour is sitting on a colossal pile of legitimate cash. China is going to be on spending spree! Wake up America!
They will change trust me. US is no perfect either. Unconstitutional draconian laws such as PATRIOT ACT and many others.....oh wait innocent peaceful protesters getting beat up and taze by hooligan cops. Does that sound champion of freedom to you? Wheres the First Admendment rights?
People always ignore the exploitation. Or redefine it as something else.
Be honest, it's exploitation. maybe it's exploitation that is ultimately beneficial for the exploited, but it's still exploitation of desperate people.
@Jcolinsol Any time anyone uses the term explotation they are making the basic zero sum error, tell me what were their utopian conditions before they took those jobs? now if you'll excuse I am going to let the grocery store ruthlessly expolit my hunger by buying some food from them.
hA HAHA you guys keep buying gold... more property for me and those of us who will be your landlords and get your money later....... as if gold never goes down in value.... haha.... changing times, changing technologies, even Bruno does not wear gold bracelets anymore..... forget gold. buy cheap properties in the USA. the best place in the planet.... Where the kids of the world want to come. where the movers and shakers want to live.... haha buy your gold....properties for me.
The only problem I have with what you're saying is that USA properties are still way too overpriced. At least gold and silver are more liquid as forms of payments and can be used for other things besides, coins, jewelry, and silverware. It is easier to move a piece of silver or gold when needed than it is to move a house, a building, or a piece of land.
Yeah look at those gold ads on tv its a great time to own gold (so you can sell it) and the guys buying gold are only paying you 30% of spot price I would buy it for that at any time lol
Peter's right! Dubai is not Lehman. Dubai is the straight forward deal not involving in any derivatives. Dubai has the land, the building, the port, and the business while Lehman brothers have nothing but toxic paper assets.
Peter is 100% right! What good for China holding so much fait paper IOU which is losing value by day? China should and must make use of the IOUs consume it, building up their infrastructures and social security networks. In China, vast areas of their inland are not developed, no road, no electricity, no running water. There's never be a better time for them to do it now, especially they have the money.
Yah you Americans can have the illegal Mexicans work for peanuts over there while you are sitting on your fat arses at home collecting the unemployment benefits. Would love to see how long the Americans' unemployment benefit last. Then what happen to you? You'll pickup the rough works done by the illegals? lol
Yet another foreigner. Hey Peter if you want to get elected you should start by attracting U S citizens who live in your state and can vote not foreigners who like to bash America.
Look America is bankrupted because of what the the Americans have done to their country and to themselves. Americans love to spend money they don't have and part hard to have great time. People such as Peter will never get elected. Americans only vote for those who tell what the they wanna hear. Peter is not that kind of person. Peter will piss off all the like of you. lol.
I like your story about bartender and the driver. in the real world who is responsible for the accident? The DRIVER! I know you're running for senate and you can't say the truth. Bernanke isn't responsible for the crisis wheater you like it or not. American people are! YOU (as an US people) are! YOU took the mortgage, YOU maxed out your credit card! Now YOU have to pay it back! Simple story, simple economics. You can blame it on UFO as far as it concerns me:) Think about it
The law is that it is not just the driver, but the bar also has responsibility. So YOU could blame it on UFO;s, but I think in court, they would find the driver and the bar was responsible.
Hi Tom, while personal responsibility reigns supreme, there's a little more to it than that. The entire system was set up and designed to deceive the public. They were duped and lied to en masse. Regardless of the extremely few that could see through the bullshit, I truly could not expect enough of them to figure it out. I think the problem here is you simply don't understand how disgustingly underhanded it was. Heck, they all know now yet it continues because it IS the gov that's doing it.
Actually tommy, I think it's the US government that has maxxed out all the credit cards. It's the US government that ran up a huge debt. Bernanke is the banker that should have raised the interest rate on them and warned them to stop borrowing.
It's true that many individuals have behaved in a similar fashion, but the point here is what our government is doing.
What you said just reminded me of something I saw in a documentary where it was reported that the former president Bill Clinton had his black credit card denied for a transaction.
low intrest rates are partly to blame, but noone want's to see the blame on his side. people fell in the trap (which was obvious if you know simple math), mainly because they are not educated economy-wise
Peter, the presumably flaming liberal writers at the Fairfield County Weekly don't give you much of a chance in the Senate race...in an editorial this week "2010: Year of the Republicans?" they only mention the wrestling bimbo McMahon and Rob Simmons as the two remaining candidates after the Repubs "narrowed the field". Much liberal guffawing in the essay though.
I agree with Peter and the condition of the dollar but I don't think the answe lies in China. Just like the dollar has foundational problems such as excessive borrowing and government spending, China has a foundational problem, freedom. Sure they have alot of factories and workers but they are mostly for export.
The real engine of capitalism is the middle-class.-People willing to do the hard work with the realistic hope of achieving something better in the future. It is our middle class that is running the engine of China. I don't think they can succeed without us.
lmao, now that's giving it to him. Kind of makes his point stick even more since he stated no such illusions on his part.
The sooner Americans realize the rest of the world does not need them for anything, the better off THEY will be. Given what I see and hear, I can't see that happening too soon, so I personally will continue to make stupid money shorting the USD and going long commodities in other currencies. Get a clue.
Yes I know your crux is you're American and for that I should take pity. The US citizen is no more free than the next country. You have 1000 people or so, all multi-millionaires and more controlling your life and runing your country. They are in control, and they don't care about you, and you're not going to do a damn thing about it. Patriot Act, uhuh. How about passing Tarp, a bill no-one wanted, and in fact a bill none of them even read. Laughable.
So America isthe only one's with imaginations huh?
Here's a clue, what you have is illusions of grandeur at best.When the rest of the world finishes buying America as a way to dump their worth paper,a nd your landlord speaks only Mandarin, you will figure it out...lol.
On the other hand, I want to thank the US for the easiest trades I will most likely have in my life. The beat-down of America has done me well. Thx man, it was your imagination, not mine.
No problem im enjoying the ride also brilliant schemes we americans have. You are right we will never see such an easy trade as shorting the dollar again..... until we sart shorting gold. lol
Mainly because China chose to make them for export, not because they have to. If China wanted to, it could start consuming more of its own goods instead of shipping them off for export and forget about America altogether. A major reason why China may get hurt economically if at all is because China bothered to buy American debt. America also owes China billions of dollars (which may never get repaid) and so America needs China a bit more than China needs America.
People... Stop criticizing! I you do not like Peter then go watch other videos! Us who like him understand his message and his passion. Predictions are NOT a guarantee that something is going to happen! But rather that something is likely to happen based on his knowledge. When? Who knows.... When you are dealing with a bunch of dirty pigs in the government (who control it all)... It is very difficult to predict anything when the system is being manipulated every minute. Awesome video Peter!!!!!
Schiff is an idiot. He is learning macroeconomics as he goes along which is why he keeps changing his story. His first analysis is almost always completely wrong. He was recommending European and Asian stocks last year, thus the name "EuroPac." Then he found out that European countries are even more regulated than the US so he has changed his tune to emerging economies and Asia. Why else do you think he named his company Europac? Go look at his older videos if you don't believe me.
Shahen, while you're looking up the reasons for the name change, of which are well known, why don't you spend time finding out how Peter was 'learning' while everyone else was skipping class, start with 'Schiff was right' YT vids and work it from there. Let me guess, you're American. I am starting to see the stupidity-traits emerging. It's almost chartable for me now.
Yeah the guy thinks people will vote for him in the U S when his company sounds european and he trashes the government and the dollar and praises China. Good luck. You may think Americans are stupid but you would be wrong.
Peter is right..Overblown..way overblown..it shows how investers are still very worried and have a hangover from the crunch...I will say this though..Peter Schiff plays the world markets so are we seeing his form of "street" happiness?
Yes they are, they have no choice. Its my belief that this is why gold originally fell, the market knowing Dubai couldnt repay with dollars had to repay with gold. But...Abu Dhabi may come in and bail them out in exchange for Dubais gold so much of it may never hit the market.
Well, I am glad he was wrong about gold being over $2000 before 2009. It just gives me more time to get myself more gold (and silver) at a good price.
Thank you! I couldn't have explained this whole over-reaction in a better words.
Media always amplifies a small matter and transforms it into a poisonous contagious problem that will lead to some sort of world destruction.
I've been living in Dubai for 15 years now, and sure, the crisis is noticeable, people are losing jobs, but hey... that's what's happening all around the globe.
Do not believe everything they say on Television and on the newspaper. Some of it is there just to mislead you.
it's good publicity for america to have dubai and the economy of dubai take a hit...it looks good that's why obama...the imf...and g20 all told canadian prime minister stephen harper to deficit spend and do it alot...
I think you should buy properties in the USA, there are a lot of good deals, in auctions, and in the market. People are really trying to sell and there are lots of excellent properties for cheap..
This is the time to buy here in the USA.
I'd do it if I had the cash available, but I am already to my limit.
Banks around the world are expecting the dollar to depreciate by around 10% next year. I dont think property values will rise that much. So I would wait a bit :)
I hope this guy gets into the senate. I also hope he doesn't stop on the common sense course he is on. I further hope that with the collapse of the dollar we don't get that one world currency thing to happen and that he'll do what he can to restore sovereignty to our nation. I am so utterly opposed to the North American Union that it infuriates me that this is considered legitimate when it was never put to the house of capital or the citizens of this country or Canada for that matter.
schiff is absolutely right... the response of government to the financial crisis is that we need to give the Fed more power. don't they realize behind all of the malinvestment that caused the crisis, at the epicenter of the problem is the Fed making credit cheap for years??? how fking stupid can people be? i'll bet 80% of people in the legislative/exec branches don't understand basic economics
Hey Pete, are you in agreement that what the power is doing in America is instituting a system of divide and conquer?? Classic Machiavellian?? Split the camps into two, dems/repubs, so we fight each other and not them?? That FoxNews is the agent responsible for such a split. That Glenn asshole Beck is advocating a good guy/bad guy scenario in America splitting us into two camps?? If so, why does FoxNews allow you on their station so much??
Hey Peter, what I just cant understand is why youre allowed on the powers greatest weapon, the MSM, when others are not. Why are you allowed to speak out against the power and their actions?? If the media only manipulated our minds and opinions, then why do they allow you on to speak truth?? Could it be you too are controlled?? That youre really a member of the inside?? Are you a Zionist Mr. Schiff?? What are your views on Israel??
Good job! I also think that "TRUST BUT VERIFY" is a good attitude to have regardless the potenial leaders of the next US Revolution. Some question should be answered and there is nothing wrong with that.
Thats right on the money sir. If Peter wants to be elected senator there are alot of questions that need to be answered. I mean, we dont know anything about him!! Nothing but his YouTube clips that is. Now is the time to overthrow the politicians for their mistakes, not elect more to make others....
a bit hopeful i think. the fact the anglo saxon economies of uk and usa are bailing out their banks. the fact that dubai has sunk and theftse has risen today shows that the govts are worried. the pound and dollar are worthless, and with quantatitive easying printing money, that will lower the uk and usa. this guy hasn't a clue.
The pound has been rollercoasting more than the dollar. Though the fall in its value is smaller... But to say its the strongest currency in the world is quite a leap.
Paper currency. It leads in value of all major countries. If I were talking of any and all currency, I would pick gold as the strongest since it has been around the longest.
You are very wrong. Purchasing power = currency value. If you currency is more valuable to other nations, it has more purchasing power. One in the same.
What!? The value of a currency is nothing but a number! Its what you can BUY with the money that matters. Purchasing power =/= currency value!
If a currency appreciates goods will get cheaper and if it depreciates goods will get more expensive relative to foreign countries. This means that if I pay 1$ (in Danish Kroners) for an apple and you pay 2$ in USA the Dollar will depreciate until the prices match and the same amount of goods can be bought. Thats PPP.
Thats not what im saying. In principle I should be able to buy the same things whether I carry Dollars, Pound Sterling or DKK (if you remove taxes and toll). And it fits. Games for PC in the US cost roughly 60 bucks and in Denmark its 300 DKK. 1 $ = 5 DKK.
A strong currency is stable and the Pound Sterling hasnt been of late.
Strongest value. It has been leading in value for years. In comparison to other currencies. It did not drops hard or fast as the dollar. Even the yen struggled more.
the risk factor in investing Dubai has me thinking about how California has unfolded. Are the FED working for the first time soaking up some of the extra cash. I have so many questions.
Dubai's fame came at a cost
bhatian 1 year ago
I didn't know what the fuck this guy was talking about off the start and I was thinking he was stupid. But holy shit did he nail it at the end. I completely agree with him and he is a person who gets it. I'm also questioning my ability to gauge people's intelligence.
ThomasHartley 1 year ago
3:48 "What good is a skyscraper full of federal reserve notes?"
HAHA that made me laugh hard, very true
kaziqbal 1 year ago
This has been flagged as spam show
Hi. Aprox by the year 2020 a laptop will reach the human brain potential for processing data which means that there is a huge market waiting for hundreds of billions dollars to be sold or invested in humanoid robots and intelligent systems and the beginning of the bigger industry ever maid in human history. Search on Google luisbeck007 you will find the most complete humanoid robot list in the World, good information and interesting issues.
luisbeck007 2 years ago
Great, most have evolved but some want to go back to simpler days. Gold standards etc. I would love to have a pocket full of silver for the shopping. Stick to market forecasts. Stay out of politics please! Ron Paul too! Nice men with no idea of modern commerce. Check out my 2 vids
julianmck 2 years ago
@julianmck The fact that you think you'd be rollin around with a pocket full of metal shows your ignorance regarding metal backed currency.
absurdparadox 2 years ago
Gold is not the barbarous relic, rather, central banking is. Why try and prop up a failing system? Banks crash, have crashed, and will crash, because our financial system is induced to implode in a pyramid of debt that arises not just from control of interest rate but because FRB, allowed by Fiat money, runs with distorted interest rates in increasing credit-but because the price increases are NOT even, the boom, false sense of prosperity, develops that ends when the drunkenness ends. Hello bust
Nintendomanwill 2 years ago
i would of voted you for president if you made it to the final 2 .we voted for mccain
MrBrian987987 2 years ago
I swear you have the best analogies Peter.
eatings 2 years ago
bling bling....
just be a rapper. and hang all your gold in your neck...bling bling
you just bought a piece of paperrrr !!!
hahaha
thecruiseliner 2 years ago
Ron PAUL!
LiveFreeOrDieNow 2 years ago
Ron paul suck ass!
hilololomoa 2 years ago
gold is a scam.
you did not buy gold....you bought a piece of paper.....
hahahahaha
thecruiseliner 2 years ago
Unless you own physical gold.
PontiffMystic 2 years ago
Let's all buy Dubai stock. Let's all be brain surgeons.
roaringwaterbay 2 years ago
Fox and not your friends
racedog19 2 years ago
I don't think it's an overreaction. I would keep away from Dubai. It was known a long time ago that Dubai was going down. There was news of people abandoning their cars at the airport about 6 months ago. The property is worth very little because the land mass is very small. Dubai invested its money in becoming the entertainment and financial center of the ME and the world.
Youreallsheople 2 years ago
Schiff, You need to go back to Econ 101. China is investing in infrastructure and new industry, e.g., solar panels.
jc8ward 2 years ago
Subsidized by the US government jc8ward. China will follow the US in the green economy subsidized by the US. US will fund the projects, and the jobs will be exported to China. Lol. Tell me this, could the industrial revolution happen in the US under this fiat monetary system? No. There was always outsourced productivity. British East India Company for example. China has money to invest, and buy up stuff on global stage. They actually have money.
PontiffMystic 2 years ago
3:30 Did this libertarian kook just say that government spending is better then no spending at all?
blingbling65943 2 years ago
A Libertarian wouldn't support government spending. And thats commentary on another country having loads of reserve currency, not just the government.
Pangora2 2 years ago
@blingbling65943 what China is also is investing in doing oil and gas deals with India and other oil producing countries. Investing in hard assets. That is better than holding too much fiat money.
popcur 2 years ago
dot kom
Megamediaplex 2 years ago
Like Gerald Celente says:
If the names on Wall St. were Franky, Giuseppi, Mama Mia, Pesto, Linguini van Scampi, Pappa Pia, Giacomo, Lasagne, Spaghetti, Rigatoni, Mamma Leoni, Maria, Sicilia, Ying, Chang, Chong, Wing, Fing, Fang, Fong, Wong, Duck Dong, Hing, or Chen they'd be calling the white shoe'd boys the Mafia.
YOY!
JoeJacari 2 years ago
He should retract this -- it was right for about 24 hours. Then UAE said guess what rest of the world we have way more than 85 billion in oil money to easily cover this. My question where is Schiff's DOW 4,000 by the end of 2009 prediction. Everyone wants to say how great of a predictor he is but won't call him out when he is wrong. I agree with a lot of what he say but the Church of Peter Schiff drives me crazy.
navykev 2 years ago
Is paper, backed by NOTHING, money?
PETER SCHIFF 2010!
iannetta11 2 years ago
the short answer is yes
JuanVoyce 2 years ago
the long answer is no
blingbling65943 2 years ago
very original
JuanVoyce 2 years ago
The next phase is the bursting gold bubble.
JuanVoyce 2 years ago
If it does burst it will not cause that much financial distress because people are not buying on the margin due to the unavailability of credit.
richi1173 2 years ago
There is no leveraging in gold. You may lose money if you are speculator, and trying to time markets, but nothing that would be a disaster. If the dollar goes up, that simply means gold is priced in appreciated dollars. That's it. Gold is a store of value. It's real money because of it. Heh.
PontiffMystic 2 years ago
Still:
Chevy makes the best trucks in the world, GM has the best cars too. Just look at the Grand Prix... sexy, powerful, I rather buy it than a lexis, bmw, benz, audi....the upkeeps is better and more affordable.
Health care and isurance, will give certainty to businesses.
Wallstreest was the cause, starting with "derivatives".and on.
dollar still sought out by the world, otherwise China would not buy it.
hahaha....
the USA is kicking ass..... fk the haters.
thecruiseliner 2 years ago
I hear all this ranting about GM cars. Thing is though: those are the most reliable cars we had in our family. I'll stick with what is good.
manoman0 2 years ago
the DOW still above 10,000
unemployment ( the laging indicator ) is going down....
Banks and financials are paying back the governent bail out with interest....
we are getting health care and insurance reform to bring certainty to business,
we are getting wallstreet inline to prevent future fk ups .....
The world is more willing to work and buy our products than a few years ago,
Chevy makes the best trucks in the world...
hahaha....
all you haters......The USA is kicking ass now
thecruiseliner 2 years ago
dollar still sucks
umploement is still incredibly high
heatlh care is gonna get way worse
wallstreet wasn't the source of the problem
what products are we really producing
chevy (GM) got a huge bailout and isn't viable.
we are trillions in debt.
gangien 2 years ago
I'd still buy GM
:D
manoman0 2 years ago
no way i would
gangien 2 years ago
If we are kicking so much ass then why is the yen and the euro money worth way more?
slushomatic 2 years ago
LOL there not.
IWashMyOwnBrain 2 years ago
LMAO they are.
1 EUR = 1.48535 USD
Yen isnt yet where the EURO is but you can see my point.
slushomatic 2 years ago
This can be complicated stuff, but currency prices are all relative, just because the EURO is worth $1.48 doesn't mean that that the EURO is worth more then the Dollar. It doesn't work that way.
Its based alot more on where prices have been, but even that is only half the story.
blingbling65943 2 years ago
FREE IRWIN SCHIFF!!!
SufferInJuly 2 years ago
This has been flagged as spam show
"As fire (heat) is the direct cause of cooking, so knowledge and not any other form of discipline, is the direct cause of liberation; for liberation cannot be attained without knowledge...Action cannot destroy ignorance, for it is not in conflict with ignorance. Knowledge alone destroys ignorance, as light destroys dense darkness." — Roy Davis: "The Path of Soul Liberation"
SufferInJuly 2 years ago
Iwashyownbrain has some good points......I have been reading where China and the USA have been privately fighting over the right to keep their currencies low....it seems the long-term benefits of a weak currency outweigh the benefits of a strong currency.....that must be understood within reason
Jacobrester 2 years ago
Ben Benanke is responsible not lowering interest rates when intelligent Americans, like myself, saw the signs of our current depression approaching. Terminate Ben Bernanke! Then, audit the Federal Reserve; force their transparency.
TainaAtheist1 2 years ago 3
Peter Schiff speaks the truth here.
jmjfanss 2 years ago
Hey Pete.......why dont you give the big picture of the world markets instead of constantly focusing in on the USA.....it really appears your buggest following is anti-american haters ........spread your alarmist tripe and give the facts on all economies
Jacobrester 2 years ago
Yeah its incredible how many fail to see the U S is still the most powerfull nation on earth by far and it controlls the dollar. LOL LOL LOL
IWashMyOwnBrain 2 years ago
Peter Schiff love US, otherwise he would not express his true opinion. I do not like those guys judge people just because of their attitude.
shanghai1norfolk 2 years ago
Peter Schiff hates the US
shahen13 2 years ago
"We the people ...," The Preamble, the first words of the Constitution. For many years the politicians in Washington have assumed the American people were "sheep" to be led in any direction they saw fit. This assumption is and was a mistake.
ZZTWP :
zztwp 2 years ago
lol zztwp. Well my friend, from where I sit this assumption has been working for a long time now, and it seems to me all the posturing by the pee-ons isn't going to change it either.
Total fluff, and yes of course you're all sheep, and no, 300 words in a Peter Schiff comment section isn't going to change it either. Get real, "the people" have zero power anymore.
ericmarxify 2 years ago
year after year I realize, how much we take for granted the awesomeness of our country and its value.
Most people in the world would love to move to this country for a better life. ( maybe have a "vacation" now and then back in their homeland) But most want their children to come live and study in the USA. We have better homes, better grocery stores, better schools, better universities, better movie theaters, better, roads, better business environment ( even w.taxes)... better , better, better
thecruiseliner 2 years ago
lol, yah, Cruiser, there's that ignorant American coming out again. Better better better, in the face that all is happening.
This is why you keep taking it up the ass, ass, ass. Then they hand you a flag and tell you to be proud of it........lol. Fools. Complete idiots.
I only know people that never want to live in the US, or those that wish they could leave.
better better better.........lmfao.
ericmarxify 2 years ago
"I only know people that never want to live in the US, or those that wish they could leave".
No surprise there. LOL
Maybe you should get out more often.
IWashMyOwnBrain 2 years ago
Yes better for sure. Peter seams to attract a bunch of America bashers. What they fail to see is how great our system is it gets out of balance at times but always corrects itself.
IWashMyOwnBrain 2 years ago
(1) Corrects itself? It didn't correct itself, it was bailed out by the same government that swore it would never intervene in the economy... And that was an utter humiliation for an ultra capitalist like GW Bush, who many are saying he was the source of this collapse, and for you all Americans in general, who support and are proud of your system.
The world crisis was caused by the excessive deregulation created over the years, it looks like you forgot all about the Great Depression and are
Paulo412349 2 years ago
(2) committing exactly the same mistakes. Roosevelt did create some regulatory laws after the Great Depression, which were dropped in the past 20 or so years (being the GW Bush the most enthusiastic about the deregulation) , and bam, another financial crisis... If one thing was learned (or re-learned if you like) with this financial crisis is that wild capitalism with a total deregulated marked, without or almost without state supervision does not work.
Paulo412349 2 years ago
The financial crisis in the U S that has effected the world was caused by government interferance in housing loans not deregulation. It was congress who wanted more affordable housing and forced freddy and fannie to accept way too risky loans that ultimately failed. Government needs to stay out of the free market not regulate it.
IWashMyOwnBrain 2 years ago
No, freddy and fannie did NOT cause the recent financial crisis, nor did they cause the housing bubble.
For someone who says they are not brain washed, you sound a hell of alot like those idiots who are.
I know you didn't come to your conclusions on your own, based on your own evaluation of the facts, your repeating what you heard, you were brain washed.
Those people lied to you because they think your stupid, looks like they were right
blingbling65943 2 years ago
You did not understand my reply the congress set the rates for freddie and fannie taking the decisions out of the hands of bankers who know better.
IWashMyOwnBrain 2 years ago
your right freddy and fannie did not cause the government did!!!!
smallgov 2 years ago
Actually blingbling, they were buying up questionable mortgages which were rated by a securities rating agency cartel, which only three of them could do this. Taxes were distortional on capital gains home sales. Also Greenspan made it clear that he couldn't prevent bubbles, but only could soften the bursting of bubbles. Basically saying, he will come to the rescue. Many factors created the bubble are result of mixed economy. Not raw capitalism fault. You also had legislation for more leverage.
PontiffMystic 2 years ago
This is why it's important for the economy to decentralized as much as possible. FDIC, and other entities as well as incentives, and regulations only distort trajectories of an economy, and not for the better, because less face it, bureaucrats know nothing about economics, so for them to make legislation, and regulate is only a recipe for economic disaster. Also the Fed has been creating bubbles lately, because they over react to deflationary fears, and always try to stimulate creating bubbles.
PontiffMystic 2 years ago
Gold is abundant.....at the bottom of the oceans.....
Good properties are not.
You cant make moeny out of gold...oh ok sure if you gamble it in the casino halls of wallstreet. than maybe.
But that lease income money everymonth into your bank account....is more secure than all the gold you can stuff under your matress.
thecruiseliner 2 years ago
stupid?
CaptainKracher92 2 years ago
just look a who owns alot of the "good" real properties in the "good" locations.
I think you will find foreign names 'alot"
Arabic, Chinese or Japanese, Indian.
So you keep buying gold...
then you can wear it in a big chain around your neck.
In the mean time you will pay rent for your home and business to someone who only has gold in the ceiling of their home.
Another one bites the dust. Gold dust that is.
thecruiseliner 2 years ago
$5,000 gold, does that mean DOW 30,000? so bad for everyone
HILL1776BILLY 2 years ago
Its a shame that a current superpower is on a huge massive debt, while their good old Maoist socialist neighbour is sitting on a colossal pile of legitimate cash. China is going to be on spending spree! Wake up America!
mds1993 2 years ago
The first thing they need to buy is freedom but they still dont have enough money for that.
IWashMyOwnBrain 2 years ago
They will change trust me. US is no perfect either. Unconstitutional draconian laws such as PATRIOT ACT and many others.....oh wait innocent peaceful protesters getting beat up and taze by hooligan cops. Does that sound champion of freedom to you? Wheres the First Admendment rights?
mds1993 2 years ago
Is it the feds fault that ignorant people took out bad loans and lied about their income? LOL
IWashMyOwnBrain 2 years ago
CHINA'S GOT THE MONEY BABY!
dengzhi 2 years ago 3
And control over the cheap slave labor.
IWashMyOwnBrain 2 years ago
People always ignore the exploitation. Or redefine it as something else.
Be honest, it's exploitation. maybe it's exploitation that is ultimately beneficial for the exploited, but it's still exploitation of desperate people.
Jcolinsol 2 years ago 3
@Jcolinsol Any time anyone uses the term explotation they are making the basic zero sum error, tell me what were their utopian conditions before they took those jobs? now if you'll excuse I am going to let the grocery store ruthlessly expolit my hunger by buying some food from them.
kaziqbal 1 year ago
@kaziqbal
It's still exploitation, that's the point.
Jcolinsol 1 year ago
thecruiseliner 2 years ago
The only problem I have with what you're saying is that USA properties are still way too overpriced. At least gold and silver are more liquid as forms of payments and can be used for other things besides, coins, jewelry, and silverware. It is easier to move a piece of silver or gold when needed than it is to move a house, a building, or a piece of land.
chiyerano 2 years ago
Gold $1210+ and climbing, hang on tight.
Beans, bullets and bullion.
prescottbill 2 years ago
China's Utilizing every available Earth Resource & diggn'-In . They build a clean coal P/P a Month. uhhhhhh Think it's X to.....
gofucoffee 2 years ago
pffft. The economy is fine. Nothing to see here. Move along please.
AUX999 2 years ago
haha
this "followers" love China so much, they should move there...then see how much you like it.
China should keep buying property here in the USA. the best investment in the world.
We have the best properties in the world.
and it is the best time to buy, forget the stockmoarket....they are doing fine
DOW OVER 10,400
buy properties.....forget gold, you will just loose it like everything else.
Just dont be stupid
thecruiseliner 2 years ago
Are you being sarcastic?
Vunks2000 2 years ago
Yeah look at those gold ads on tv its a great time to own gold (so you can sell it) and the guys buying gold are only paying you 30% of spot price I would buy it for that at any time lol
IWashMyOwnBrain 2 years ago
Peter's right! Dubai is not Lehman. Dubai is the straight forward deal not involving in any derivatives. Dubai has the land, the building, the port, and the business while Lehman brothers have nothing but toxic paper assets.
overseachininadoll 2 years ago 2
Peter is 100% right! What good for China holding so much fait paper IOU which is losing value by day? China should and must make use of the IOUs consume it, building up their infrastructures and social security networks. In China, vast areas of their inland are not developed, no road, no electricity, no running water. There's never be a better time for them to do it now, especially they have the money.
overseachininadoll 2 years ago
And dont forget all of that slave labor working for peanuts under bad conditions.
IWashMyOwnBrain 2 years ago
Yah you Americans can have the illegal Mexicans work for peanuts over there while you are sitting on your fat arses at home collecting the unemployment benefits. Would love to see how long the Americans' unemployment benefit last. Then what happen to you? You'll pickup the rough works done by the illegals? lol
overseachininadoll 2 years ago
Yet another foreigner. Hey Peter if you want to get elected you should start by attracting U S citizens who live in your state and can vote not foreigners who like to bash America.
IWashMyOwnBrain 2 years ago
Look America is bankrupted because of what the the Americans have done to their country and to themselves. Americans love to spend money they don't have and part hard to have great time. People such as Peter will never get elected. Americans only vote for those who tell what the they wanna hear. Peter is not that kind of person. Peter will piss off all the like of you. lol.
overseachininadoll 2 years ago
Yeah why dosent he get that?
IWashMyOwnBrain 2 years ago
Ha ha ha...... isn't it all too obvious? Peter's not a politician, period!
And he'll never be one.
overseachininadoll 2 years ago
LOL
IWashMyOwnBrain 2 years ago
Comment removed
Jacobrester 2 years ago
Is that law firm aware that you are using their office to vlog whilst you should be emptying their trash cans?
twoB0Bcunt 2 years ago
I like your story about bartender and the driver. in the real world who is responsible for the accident? The DRIVER! I know you're running for senate and you can't say the truth. Bernanke isn't responsible for the crisis wheater you like it or not. American people are! YOU (as an US people) are! YOU took the mortgage, YOU maxed out your credit card! Now YOU have to pay it back! Simple story, simple economics. You can blame it on UFO as far as it concerns me:) Think about it
tommylodz2004 2 years ago
The law is that it is not just the driver, but the bar also has responsibility. So YOU could blame it on UFO;s, but I think in court, they would find the driver and the bar was responsible.
AUX999 2 years ago
Hi Tom, while personal responsibility reigns supreme, there's a little more to it than that. The entire system was set up and designed to deceive the public. They were duped and lied to en masse. Regardless of the extremely few that could see through the bullshit, I truly could not expect enough of them to figure it out. I think the problem here is you simply don't understand how disgustingly underhanded it was. Heck, they all know now yet it continues because it IS the gov that's doing it.
TraderSteveR 2 years ago
@tommylodz2004,
Actually tommy, I think it's the US government that has maxxed out all the credit cards. It's the US government that ran up a huge debt. Bernanke is the banker that should have raised the interest rate on them and warned them to stop borrowing.
It's true that many individuals have behaved in a similar fashion, but the point here is what our government is doing.
averagejoe040 2 years ago
What you said just reminded me of something I saw in a documentary where it was reported that the former president Bill Clinton had his black credit card denied for a transaction.
chiyerano 2 years ago
low intrest rates are partly to blame, but noone want's to see the blame on his side. people fell in the trap (which was obvious if you know simple math), mainly because they are not educated economy-wise
tommylodz2004 2 years ago
Peter, the presumably flaming liberal writers at the Fairfield County Weekly don't give you much of a chance in the Senate race...in an editorial this week "2010: Year of the Republicans?" they only mention the wrestling bimbo McMahon and Rob Simmons as the two remaining candidates after the Repubs "narrowed the field". Much liberal guffawing in the essay though.
RuflessRecords 2 years ago
I agree with Peter and the condition of the dollar but I don't think the answe lies in China. Just like the dollar has foundational problems such as excessive borrowing and government spending, China has a foundational problem, freedom. Sure they have alot of factories and workers but they are mostly for export.
2uberu 2 years ago
The real engine of capitalism is the middle-class.-People willing to do the hard work with the realistic hope of achieving something better in the future. It is our middle class that is running the engine of China. I don't think they can succeed without us.
2uberu 2 years ago
lol. China can't succeed with the Americans? lol 2U.
Spoken like another dumb-ass american. Good God you people are ignorant to a degree I find hard to even imagine.
buythebigdip 2 years ago
@buyt And neither can your lame country- whatever it is.
2uberu 2 years ago
lmao, now that's giving it to him. Kind of makes his point stick even more since he stated no such illusions on his part.
The sooner Americans realize the rest of the world does not need them for anything, the better off THEY will be. Given what I see and hear, I can't see that happening too soon, so I personally will continue to make stupid money shorting the USD and going long commodities in other currencies. Get a clue.
TraderSteveR 2 years ago
Yes short the dollar as I am but also understand America is in complete control of it.
IWashMyOwnBrain 2 years ago
Thats because you are not American and have no imagination.
IWashMyOwnBrain 2 years ago
Iwash, you're killing me with your stupidity.
Yes I know your crux is you're American and for that I should take pity. The US citizen is no more free than the next country. You have 1000 people or so, all multi-millionaires and more controlling your life and runing your country. They are in control, and they don't care about you, and you're not going to do a damn thing about it. Patriot Act, uhuh. How about passing Tarp, a bill no-one wanted, and in fact a bill none of them even read. Laughable.
TraderSteveR 2 years ago
lol, again with the stupidity Iwash.
So America isthe only one's with imaginations huh?
Here's a clue, what you have is illusions of grandeur at best.When the rest of the world finishes buying America as a way to dump their worth paper,a nd your landlord speaks only Mandarin, you will figure it out...lol.
On the other hand, I want to thank the US for the easiest trades I will most likely have in my life. The beat-down of America has done me well. Thx man, it was your imagination, not mine.
TraderSteveR 2 years ago
No problem im enjoying the ride also brilliant schemes we americans have. You are right we will never see such an easy trade as shorting the dollar again..... until we sart shorting gold. lol
IWashMyOwnBrain 2 years ago
Mainly because China chose to make them for export, not because they have to. If China wanted to, it could start consuming more of its own goods instead of shipping them off for export and forget about America altogether. A major reason why China may get hurt economically if at all is because China bothered to buy American debt. America also owes China billions of dollars (which may never get repaid) and so America needs China a bit more than China needs America.
chiyerano 2 years ago
China i believe will be the next economic superpower in 2025 dwarfing US by ten times its GDP! That will be my prediction.
mds1993 2 years ago
@ shahen13:
If you think Schiff is wrong; then, by all means, load up your portfolio with Long term bonds, buy American financial stocks, and short oil and gold.
come back to this video and post your results 1 year from now.
newseamus 2 years ago
lol Newsea, he would I'd bet , but I doubt he's smart enough to have amassed anything more than free youtube account. ;-)
TraderSteveR 2 years ago
Gold reached over 1200 today.
Vunks2000 2 years ago
People... Stop criticizing! I you do not like Peter then go watch other videos! Us who like him understand his message and his passion. Predictions are NOT a guarantee that something is going to happen! But rather that something is likely to happen based on his knowledge. When? Who knows.... When you are dealing with a bunch of dirty pigs in the government (who control it all)... It is very difficult to predict anything when the system is being manipulated every minute. Awesome video Peter!!!!!
miguelflyat04 2 years ago
Schiff is an idiot. He is learning macroeconomics as he goes along which is why he keeps changing his story. His first analysis is almost always completely wrong. He was recommending European and Asian stocks last year, thus the name "EuroPac." Then he found out that European countries are even more regulated than the US so he has changed his tune to emerging economies and Asia. Why else do you think he named his company Europac? Go look at his older videos if you don't believe me.
shahen13 2 years ago
sahen13.
LOL. "schiff is an idiot"
hilariously wrong.
tmac9938 2 years ago
Shahen, while you're looking up the reasons for the name change, of which are well known, why don't you spend time finding out how Peter was 'learning' while everyone else was skipping class, start with 'Schiff was right' YT vids and work it from there. Let me guess, you're American. I am starting to see the stupidity-traits emerging. It's almost chartable for me now.
TraderSteveR 2 years ago
Who cares about why he named his company Europac as long as he is right and has valid points about many of the things he talks about?
chiyerano 2 years ago
Yeah the guy thinks people will vote for him in the U S when his company sounds european and he trashes the government and the dollar and praises China. Good luck. You may think Americans are stupid but you would be wrong.
IWashMyOwnBrain 2 years ago
Peter is right..Overblown..way overblown..it shows how investers are still very worried and have a hangover from the crunch...I will say this though..Peter Schiff plays the world markets so are we seeing his form of "street" happiness?
detroitgreeks 2 years ago
Early in the year Schiff said gold should be over $2000 before the end of 2009, maybe over $5000 - talk about being way wrong.
And is Dubai planning on selling its gold holdings - anybody heard?
DillonX 2 years ago
Yes they are, they have no choice. Its my belief that this is why gold originally fell, the market knowing Dubai couldnt repay with dollars had to repay with gold. But...Abu Dhabi may come in and bail them out in exchange for Dubais gold so much of it may never hit the market.
CASTILLOM1 2 years ago
Well, I am glad he was wrong about gold being over $2000 before 2009. It just gives me more time to get myself more gold (and silver) at a good price.
chiyerano 2 years ago
How much In US dollars does Dubai hold In gold?
toetruckjoe 2 years ago
why does this video keep stopping at 5:43 minutes? Anyone else having this problem?
xcite1x 2 years ago
no problem for me... Clean up your browser cache, that should help
Melpheos1er 2 years ago
Thank you! I couldn't have explained this whole over-reaction in a better words.
Media always amplifies a small matter and transforms it into a poisonous contagious problem that will lead to some sort of world destruction.
I've been living in Dubai for 15 years now, and sure, the crisis is noticeable, people are losing jobs, but hey... that's what's happening all around the globe.
Do not believe everything they say on Television and on the newspaper. Some of it is there just to mislead you.
samanamian 2 years ago
Everything in the media is made to mislead, that is there only role.
CASTILLOM1 2 years ago
oh my gosh
rtardbox 2 years ago
it's good publicity for america to have dubai and the economy of dubai take a hit...it looks good that's why obama...the imf...and g20 all told canadian prime minister stephen harper to deficit spend and do it alot...
DonDahab 2 years ago
I think you should buy properties in the USA, there are a lot of good deals, in auctions, and in the market. People are really trying to sell and there are lots of excellent properties for cheap..
This is the time to buy here in the USA.
I'd do it if I had the cash available, but I am already to my limit.
thecruiseliner 2 years ago
Banks around the world are expecting the dollar to depreciate by around 10% next year. I dont think property values will rise that much. So I would wait a bit :)
mr82769 2 years ago
Agreed, American property is measured in terms of dollars so any sell will be automatically depreciated.
CASTILLOM1 2 years ago
why are you so mean and defensive?
wow...like someone is shinning the light at you for something you did wrong ot something.
I just think this is a guy I heard before atlk about investing overseas like Dubai.
thecruiseliner 2 years ago
didnt this guy used to want people to invest overseas, like dubai?
heheheh
thecruiseliner 2 years ago
Alot of Schiff's investment outlook seems wrong to me but his principles of sound money and free markets cant be beat I rekon.
daniel987878 2 years ago
Yes, I have questioned some of his investments, but I do agree with much of his take on the free markets and sound money.
chiyerano 2 years ago
Hopefully they will.
PsyogiBottoms 2 years ago
I hope this guy gets into the senate. I also hope he doesn't stop on the common sense course he is on. I further hope that with the collapse of the dollar we don't get that one world currency thing to happen and that he'll do what he can to restore sovereignty to our nation. I am so utterly opposed to the North American Union that it infuriates me that this is considered legitimate when it was never put to the house of capital or the citizens of this country or Canada for that matter.
crapthisbetterwork 2 years ago
schiff is absolutely right... the response of government to the financial crisis is that we need to give the Fed more power. don't they realize behind all of the malinvestment that caused the crisis, at the epicenter of the problem is the Fed making credit cheap for years??? how fking stupid can people be? i'll bet 80% of people in the legislative/exec branches don't understand basic economics
pwnttothemax 2 years ago
Search Google EDAR
StigmataBOB1 2 years ago
Hey Pete, are you in agreement that what the power is doing in America is instituting a system of divide and conquer?? Classic Machiavellian?? Split the camps into two, dems/repubs, so we fight each other and not them?? That FoxNews is the agent responsible for such a split. That Glenn asshole Beck is advocating a good guy/bad guy scenario in America splitting us into two camps?? If so, why does FoxNews allow you on their station so much??
CASTILLOM1 2 years ago
Hey Peter, what I just cant understand is why youre allowed on the powers greatest weapon, the MSM, when others are not. Why are you allowed to speak out against the power and their actions?? If the media only manipulated our minds and opinions, then why do they allow you on to speak truth?? Could it be you too are controlled?? That youre really a member of the inside?? Are you a Zionist Mr. Schiff?? What are your views on Israel??
CASTILLOM1 2 years ago
Im still waiting on my reply.
CASTILLOM1 2 years ago
@CASTILLOM1
Good job! I also think that "TRUST BUT VERIFY" is a good attitude to have regardless the potenial leaders of the next US Revolution. Some question should be answered and there is nothing wrong with that.
SolitonPL 2 years ago
Thats right on the money sir. If Peter wants to be elected senator there are alot of questions that need to be answered. I mean, we dont know anything about him!! Nothing but his YouTube clips that is. Now is the time to overthrow the politicians for their mistakes, not elect more to make others....
CASTILLOM1 2 years ago
All those rich Americans who rushed to buy Dubia Real Estate would've been far better off buying USA stocks.
DillonX 2 years ago
Bleh. Pretty easy to say now. Maybe in a year it will have changed again...
mr82769 2 years ago
It's not stopping for me at all. But then, I'm using Firefox. :)
Piscivorus 2 years ago
a bit hopeful i think. the fact the anglo saxon economies of uk and usa are bailing out their banks. the fact that dubai has sunk and theftse has risen today shows that the govts are worried. the pound and dollar are worthless, and with quantatitive easying printing money, that will lower the uk and usa. this guy hasn't a clue.
sexybritgent 2 years ago
The pound is the strongest paper currency in the world! I think it is you who hasn't a clue.
Mauhadeeb28 2 years ago
Comment removed
buythebigdip 2 years ago
The pound has been rollercoasting more than the dollar. Though the fall in its value is smaller... But to say its the strongest currency in the world is quite a leap.
mr82769 2 years ago
Paper currency. It leads in value of all major countries. If I were talking of any and all currency, I would pick gold as the strongest since it has been around the longest.
Mauhadeeb28 2 years ago
The value of a currency is totally and utterly irrelevant to anything. Purchasing power parity is what matters and what defines a currency´s value.
mr82769 2 years ago
You are very wrong. Purchasing power = currency value. If you currency is more valuable to other nations, it has more purchasing power. One in the same.
Mauhadeeb28 2 years ago
What!? The value of a currency is nothing but a number! Its what you can BUY with the money that matters. Purchasing power =/= currency value!
If a currency appreciates goods will get cheaper and if it depreciates goods will get more expensive relative to foreign countries. This means that if I pay 1$ (in Danish Kroners) for an apple and you pay 2$ in USA the Dollar will depreciate until the prices match and the same amount of goods can be bought. Thats PPP.
mr82769 2 years ago
So what your saying is that a Danish Kroner has more purchasing power than the GBP? no it doesn't. Why? Because the GBP is more valuable.
Mauhadeeb28 2 years ago
Thats not what im saying. In principle I should be able to buy the same things whether I carry Dollars, Pound Sterling or DKK (if you remove taxes and toll). And it fits. Games for PC in the US cost roughly 60 bucks and in Denmark its 300 DKK. 1 $ = 5 DKK.
A strong currency is stable and the Pound Sterling hasnt been of late.
mr82769 2 years ago
@Mauhadeeb
HAHAHA purchasing power does NOT = currency value. jesus.
tmac9938 2 years ago
International currency value and purchasing power are the same exact thing. Gishnu
Mauhadeeb28 2 years ago
Strongest currency??!! The U.K. is done, how is it the strongest or even a strong currency??
CASTILLOM1 2 years ago
Strongest value. It has been leading in value for years. In comparison to other currencies. It did not drops hard or fast as the dollar. Even the yen struggled more.
Mauhadeeb28 2 years ago
Peter knows. Buy gold and silver, get out of the $. US $ is doomed, check the charts (DX), its all there
liveforever72 2 years ago
yeah this video is screwed up! dang..it froze at ron paul...
aaronready1 2 years ago
Just as well you don't think people will run to the hills from Asis Pete, all your investments are there!
buffett1000 2 years ago
The Video keeps freezing right when Peter say that Ron Paul wants to audit the fed.... about 5:40 mark . Happening to anyone else?
thedfess 2 years ago
Yeah, I keep stopping at the 5:43 mark.
thepeff 2 years ago
Thank you Peter for being Honest with The American People you and Ron Paul are real !
theylive1984rm 2 years ago
Great video. Good to hear your view on the Dubai crisis.
Intervene 2 years ago
the risk factor in investing Dubai has me thinking about how California has unfolded. Are the FED working for the first time soaking up some of the extra cash. I have so many questions.
HILL1776BILLY 2 years ago