You've got your facts wrong. Under Bush, the TARP bill was not intended to create jobs. It was to provide temporary liquidity to financial institutions. The TARP loans have been largely repaid. However, the funds have not been repaid to the Treasury, they have been used for a slush fund by the Democrats. Most people do not make a distinction between TARP which did its job has been repaid, and the Stimulus which has been an utter failure. Please, please, at least get the facts right.
Well joboyko3 to a typical politician representation means bringing home the pork which also means earmarks. What you want is someone who doesn't want to be a politician, someone who has actually worked for a living, not a community organizer.
Fuck i hate your racist homo country, fuck america and fuck this guy.......
Obama, bush, clinton, oprah.... Wtf USA who are these commercial, fake, americanz? Do you people understand your country is fucked, your people are retarted, and obama is just a guy! Forget your ying yang racist bullshit and live as a world community, cause not only God knows how much your country should nuke itself to nothingness, but the rest of the world wouldnt miss you if you did!
That`s why he`s in a suit talking behind a desk, he has no need for such money as one can easily see, so it`s obvious he is indifferent to it. Those poor disabled people can barely even get by on what they get anyway, president Obama promises much, but delivers little. The stimulus should have come in march. This isn`t a by the people country anymore it`s run by a bunch of ungodly unchristian people who are running it into the ground. Envision impeachment or move to the UK.
The United States is still the third largest exporter at nearly $1 trillion a year, although we still import more. We don't "not make anything." And services are not "fluff." There are many services that people need, just as there are many material goods that they don't need. Better to export, say, call center services like India does, than to export rubber hammers made in a factory. The United States exports a lot of food. That's a material good people really need.
Does what your father do or what he as done in the past, determine who you are or whether you are right or wrong? It might change how other look at you through association but it doesn't change who you are.
I agree with every single thing Mr. Schiff said here except the part about electing leaders. I don't want to be lead. I only want to be represented. That's all I ask.
I wonder if shipping every conceivable job out of the country had any thing to do with the U.S.s problems??? Global Capitalism and Free Market Capitalism = enslaved populations!
since NAFTA was enacted which is often blamed for shipping jobs out our unemployment has been lower on avg than the avg of the previous decades. shows you believe in slogans and nonsense more than reason.
global trade has allowed nations to specialize and has increased the US's high tech jobs while low skilled jobs have gone to other countries allowing their citizens to raise their quality of living and buy high tech products made in th eUS
Dear Mr. Schiff, I understand this is youtube and lot of people use negative vibes to get more views, but in order to make a significant changes, I think it's more important to focus on postive; your agenda, for instance. With that strategy, it's not just about opposition and negativity, it's about a clear solution and positivity.
tax payer EVENTUALLY gets it back. currency is finite. when the government takes 1 trillion out that is 1 trillion less for private citizens to spend.
What about the printing press though? Easy monetary policy by the Fed kinda changes things for the worse. They EVENTUALLY get it back after it's been devalued a bit.
great logic. i say we have the gov't hire all the unemployed people in america and pay them say 50K...they'll just go out and spend it and put it right back in the economy. recession over people.
Please, starting thinking with your head rather than just looking at one thing. every gov't employee requires private money either borrowed, taxed, or printed. that is then less capital available to hire people in the private sector where real wealth is made, not some gov't job like the DMV.
i have an even better idea though. lets just print out money and give it back to the taxpayer. the paper is pretty cheap and we have lots of it. everyone wins.
that a vote by someone like you can cancel mine out makes me weep.
I believe he will be paticipating in a republican primary debate in a couple of weeks. As well as he seems to know the economic issues and the current focus on the topic, I would expect him to crush his opponents. Hopefully it is posted somewhere afterward, as I'd like to watch it. I'm not even from Connecticut too. It's just refreshing to see someone who sincerely cares about this country AND knows how to get it back on the track toward prosperity.
interesting...in conneticut linda mcmahon is running for senate. she is co-owner and much of the business sense behind the wwe (pro wrestling). she's very shrewd and very smart. sounds like a fun debate. especially if it is moderated by hulk hogan and done at wrestlemania 34.
Connecticut viewers: Does this guy have a shot? Is he generating excitement the way Scott Brown was able to? I sure hope so, we need more people who no business and finance in Washington.
Blame the lack of recovery on the government that borrowed money and sedated the economy from reckoning with its insolvency by keeping interest rates artificially low...that's called putting ruts in a house of cards, you prevent it collapsing temporarily, just to add more cards: it had to collapse to allow for stable growth. Stimulus takes money from saving for stable growth and pays people to do jobs that consume more capital than they create, hence the market won't do those jobs, that'sruinous
It's not just that the government takes money that could be spent elsewhere and more productively, it's not just that they abuse our liberty by spending our money where we wouldn't spend it, where it don't gotta go, it's not just that they break windows by making jobs for jobs' sake: it's that when people are engaged in those jobs only supported by coercion, we have to pay for their running losses, if they made a profit the market would do them, the market needs to SAVE first, then comes growth!
So all hail Peter Schiff, and learn the Austrian Theory of the Trade Cycle, on youtube (click on my profile to see the video) so you understand how the boom is a misdirection of activity and a causation of malinvestment due to MASS FRAUD by central banks who increase the supply of money in their coerced Fractional Reserve Banking even without increases in loanable funds, this will cause inflation and will deceive people as to their sustainable expenditure and causes bankruptcies, SO DON'T DO IT!
I know someone very close to me who does not live anywhere near Connecticut, who has been fully unemployed for 10 months and still counting, and they still contributed to Peter's campaign. That's how badly they want him in the Senate so that there are more votes for liberty, not for tyranny.
@IWashMyOwnBrain You do realize that the Fed announcement is all window dressing, correct?
Duke is already backpedaling. Tomorrow being OptionX is going to be a wild-ass ride on top of all that whip-cream they're stirring up at the Fed.
With the Fed now buying all the debt, and China's purchases falling off dramatically, there's no end to the electronic printing they will now do until it comes totally unglued.
Today's announcement will rattle the markets, but it won't really change anything.
Caution to all Grocery buying consumers in the USA. The prices of grocery items have jumped up in Half part of Feb... Looking like Walmart is going to take advantage to make some profit off from people that buy food items that use there state funded food stamps. In which Government support from the states are going to increase the prices of food items in super markets, aka Walmart super centers. Inflation increased in Feb.
Yes I agree with Peter on many things ...but never on hyperinflation... the fed sent a message to the world today...I should have guessed this when obama started his fight with the banks....he no longer needs them to launder money in the markets because no more is being printed.
we were very stimulated throughout 2009 and will be even more stimulated this year. viva record bonuses 2010~~~
all hail the invention and continuous improvement of the great US technology called the printing press enabling the doubling of the monetary base within 4 short months, in turn creating the biggest avalanche of credit in the history of mankind, the channeling of all this credit to the government, big banks and major corporates, and the resultant very happy stimulation received.
Let's pretend. You get a cold, and come see me. I'm a voodoo doctor. I give you 7 monkey brains to eat as a cure to your common cold.
You cook/eat the monkey brains and 3 days later you feel better.
The monkey brains weren't the "cure" to your cold, even though your faulty logic might conclude that it is.
The reason you come to the "wrong" conclusion is your lack of understanding of the situation. Obviously nowadays my story is silly, but hundreds of years ago the understanding wasn't there
who says its working? the same guys who had no clue the financial crisis was even coming? yeah lets believe those guys, they've only gotten every single thing wrong up to this point
In a recent poll only 6% of people responded that the stimulus created jobs. That's the American public. That's who matters. Not kool-aid drinking Obama economists. I'd post the link here, but it isn't allowed. Just google "6%, stimulus isn't working" and you'll find it. More government intervention and wasteful spending is definitely NOT what we need. If you seek a government to control your life, go to Venezuela or Europe.
this was uploaded on the 16th, but the Schiffster in the video says the date is wednesday feb 17th. either the youtube upload date is wrong, or someone is lying, and since Pete's running for congress, I think I know what is the answer.
OR the time-zone for him and the time-zone for Youtube's location are different... and the time he uploaded it is the 17th for him and the 16th for Youtube. Ever consider that, jackass?
Western economies have been thriving off housing bubbles which import wealth into countries to stimulate local economies. Debt remains a non issue as long house prices increase, but when house prices reach a price beyond median wage earner, house prices collapse. Government then tries counter drop in revenue by importing their own debt under the name of stimulus packages but government is unable to import as much debt as the private sector. First black president is nothing more than a fall guy.
"How do you feel about the police officers, firefighters, and teachers' jobs that were saved by the stimulus bill?" So all of the government budgets have been slashed down so that only the police, fire, and teachers were left? The "stimulus" money didn't save their jobs, unless they were to be cut in favor of building the Reid-Pelosi garden. Instead, it simply enabled governments to continue to spend money on the other "essentials".
Wishful thinking, Peter. You'll never reach you goal relying on good politicians.The System works this way: a person works for the System or doesn't work in it at all. This is in no way a random process that you tr to cure via election mechanism.
We were stimulated with a 1/4 mile side walk. Total employed, 20 people for 3 months, a huge sign that points to this farce, glorifying how our wonderful governor should be credited. You know Peter, he should get ALL the credit. 3 months later, those same migrant workers (not illegal, just not from our town) and the companies (again from another town) are gone. But what do we have? A non-producing sidewalk. It generates no revenue, and contributes no taxes. Well done governor...(golf clap)
I hold no physical gold as I dumped it on the GLD equiv run from 104 to 109, but I do own gold shares still.
I own enough silver to gag a rhino so we'll see about that. My US dollar short is about flat since the Dollar has been chopping like mad for what seem to me to be an eternity. I am a patient guy, but this choppiness is bagging on me. I've made better gains in other areas during this time so in general I am not overly annoyed, yet.
Just to keep you in the loop Iwash, I pulled 1/2 of my usd.cad short off today to lock in 250pip gain. Pulled some huge oil profits off (+12%). Stopping 2/3 gold shares (ABX) around todays highs, going into optionX tomorrow. Still sitting on that buffalo-sized silver position. Still staring at the meat-grinder eur.usd trade and wishing it would do anything but flop around like a fish out of water. That Acropolis column is going to look sweet in my living room.
Gotta tell you Iwash, I went back short the USD.CAD on that anemic dollar push early this AM at 1.0505. It seems to me the bigger message was delivered to the US, "no-one's buying it". Even the EUR gained back all it lost overnight. Gold flatish, oil up and silver up a tad.
Better watch that one close short term. I am looking for EUR/USD to hit 130 then rebound well above the 155 level. As the market goes down the dollar will go up. Never underestimate the repetitive stupidity of the masses. They'll still come to the dollar when the market retreats.
Well, I am long commodities here for all the right reasons, but when I see the IMF dumping 200T of gold I get a bit nervous knowing how they can man-handle the short term market with my ass used as the prying device. Not going to be fun for a while. Gold dumped large late today when that news came out. Picked up more silver on the pullback today. Sitting on about 1500oz at current price. Locked and loaded with cheap oil so we're happy there. US Dollar simply refusing to roll over yet.
I can't believe anyone thinks Greece even matters. Bailing them out is about a month of US interest payment. It's irrelevant to the greater picture. Of course if the euro falls any more I am going to the Acropolis and stealing a column and taking it back to my place.
The saving grace for my dollar short was that I did it mostly against commodity currencies which evidently was the key.
While the US isn't alone, it's not like they can mathematically ever dream of meeting their debt obligations. It's not even a close contest. It can't be done. The US is Greece with a much larger toilet bowl. The most amazing thing to me is that it actually hasn't collapsed yet. The sooner the better in my books.
My theory is that because the debt will NEVER be paid back that things will eventually have to start fresh. Might as well run up the debt at this rate rather than bring it all down frankly. Peter Schiff preaches the right stuff, but unfortunately, hes in 1930 lol.
washington....as obama put it...wait na na na not like that puppet put it....WE the people need to create our OWN change and stop thinking of these politicians as Gods. As if there is no moral implications for us not giving a damn all these years about what politicians do! or to always take a defeated attitude and just rationalize its been corrupt and always will be there is nothing we can do! corruption will always exist! but at what level? and eventually that corruption will lead to oppression
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public works projects are not meaningful jobs?! How are these jobs "sedatives"? This idea of wealth creation is a fallacy.
This is such a losing argument. I agree that bailout money giving certain corporations an unfair advantage, but these blanket generalizations weaken any argument about government spending hurting the economy.
They aren't meaningful in the sense that they do not add jobs to the economy & they are non-productive from a national deficit standpoint. The money used to create these jobs was first taken OUT of the economy & then put back IN (after the waste of transfer has taken place) - not where the market values it but where bureaucrats & politicians (who don't understand the economy) choose. It's like filling up a pool by taking water out of the deep end & dumping it in the shallow end, at best.
As usual, very articulate and very correct. Maybe people will begin to understand the decades of damage wrought by Keynesian doctrine as the atomic debt bomb levels economies worldwide. I suspect that most will not, and that the responsible parties, governments and big banks, will do everything in their power to deflect attention from the real causes, so it is up to us to continue carrying the torch of education.
Right on Pete! Why is it like everyone has forgotten Bushs stimulus of 2008?? Crazyness, that was suppose to help the economy not get worse, then it DID then Obama needed HIS stimulus and low and behold they BOTH didn't work!! Like we didn't know they wouldn't work but they didn't listen, psh well thats one freaking thing they (poloticians) know how to do is waste our money!! Like I said before we NEED to vote them out every 4 years for them to get it!!!!!!!!!!!!
maybe if the government spent less of our money and lowered the taxes they steal from us . just maybe that would help the economy but til then we are scewed
We already have the "stimulus signs" in Canada..... really boosts moral... makes you feel like the gov't is actually doing something about the economy.
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I think the stimulus was a great idea. I dunno what Peter is talking about. Businesses would have went bust left, right and center. It would have taken years to rebuild from a massive depression
seano71, his point is that it our economy would be better off in the long run if we had faced our situation without the stimulus. It was a short run solution that will have very negative consequences in the long run. Our government never looks at the long term anymore, they only focus on what will get them elected again.
I know where he is coming from. I agree with him for the long term. As for the stimulus, it was spent on infrastructure and clean energy. That is focusing on the long term. Obama was left with the mess Clinton, Greenspan and George Dubya left him with. Give him a chance.
Niet! Where does the government get that stimulus money at first? I believe this is a rational question to ponder upon! They either print it via the FED or borrow from the Chinese, thus making the US into a dependent economy. No, the crash was caused by a series of stimulus that began with Clinton internet boom and followed with the Bush administration: All directed by the great "sorcerer" Greenspan!
We need to flush out the bad sectors of the economy and rebuild on solid foundation.
Your nation doesn't have to spend as much money fighting wars for oil and purchasing it at an ever increasing price. Not to mention, paying for the future damages caused by climate change. This will allow food prices to fall. With a better infrastructure it will become faster, more efficient and ultimately cheaper to transport goods. End result: stronger economy
one- china cannot be trusted to report their own revenue and spending etc. 2-the stimulus is less then a zero. it is a negative so what would be the rational in emulating the chinese communist?
@baigandine China did do a stimulus as well, but there are key differences. First off China actually has money. Every single dollar we spend on stimulus had to be borrowed so it actually will end up costing us much more than reported. Second, China produces things while the US has an economy that is mostly made up of consumption and service sector fluff. If we were borrowing to build factories that would be ok, but we are borrowing to pay people not to work and to bail out wall st.
why? I've been following Schiff's vlog and read crash proof 2.0, so I can see exactly where he is coming from. For the long term, he is correct but a stimulus was needed for the short term to stop the whole economy rotting away. Its like keeping a plant in during the winter, give it some heat to keep it warm to stop it dying and then when the summer comes it can survive on its own.
lol, nice analogy but things dont work like that in this situation. here is a good one the building is falling apart in a movie and all you did with the stimulus was put PAUSE and as soon as you remove pause the building collapses. the END
thank you, although i made it up i have to give credit to Peter Schiff because he is always using analogies so that we may understand economic issues or events. Peter Schiff the Godfather of Analogies.
Do you really think our economy needs to keep functioning this way though? Yes, giving these institutions billions of our money they were able to keep the doors open. But the very people proposing bailouts are the ones who created the bubbles and dollar destruction. This bretton woods system needs to crash. The sooner it crashes the sooner prosperity can realign with a true currency based NOT on paper and debt.
They definitely shouldn't have been allowed make so much money for sure. A stimulus spent on transport and energy works. The western world needs to be self sustained on their own energy. In the future, the banks won't have so much freedom. Capitalism appears to be changing for the better.
Not true Sean. There were those of us that didn't need any stimulus as we had our own plant watering and heating system built. What would have failed would have been the weeds who didn't properly manage their requirements. I would have loved to have picked up what the weeds left behind, but I was prevented by a government who stole from me what was mine to give to the weeds who wasted the same opportunity I took to shore up my garden. Letting them fail would have been perfect for the prepared.
You need to see his previous videos for a detailed explanation of this.
Basically, these stimulus packages are only more of what created the problem: lots of money on credit. It is the same as giving drugs to a drug addict, it is a temporary high, but the more this happens the harder the crash.
Dude, there is a reason business are failing when the gouvernment takes its hand off it. The market doesnt want them there!! its overfed! If i got gouvernment money to stay alive selling VHS machines when noone wants them, wouldnt you think it resonable for that money to be used more visely by the free market on blu-ray or new technology instead?
I rated this a 1 star because I can't get this vidio to play on my iPhone. Please fix it so millions of iPhone users can watch your informative videos.
I know but they were citing a source other than themselves and I was wondering if someone was aware how the lie was made. sort of like how the unemployment numbers are phony
Unemployment numbers are fairly legit (when comparing unemployment data over the course of history), but most people don't understand that there are the U3 and the U6 numbers and America doesn't use the same unemployment statistic set that they used during the Great Depression. I think back then they used the U3 data and now we use the U6 data.
the point I was trying to bring discussion to is that similarly, by using the U3 and comparing it to an era where U6 was the standard, how could this 11% be a non legitimate representation of gold demand. like for instance, possibly excluding some large spectrum of what actually constitutes gold demand
Feb. 17 (Bloomberg) -- Billionaire George Soross Soros Fund Management LLC more than doubled its holding in the biggest gold exchange-traded fund in the fourth quarter after bullion advanced 8.9 percent to a record.
obama has left you a message on your phone in the background...its flashing....he says he is pissed you are ruining his diabolical plan to destroy America. SCHIFF FOR SENATE....RON PAUL/PETER SCHIFF IN 2012 !!!!!!
MOSCOW (Reuters) - Pension funds have started investing actively in gold last year viewing the metal as a safe long-term investment, the head of the World Gold Council told Reuters on Wednesday.
"Last year we saw a very notable switch of pension funds to holding gold for the first time," Aram Shishmanian, the CEO of the council, told Reuters Financial Television on the sidelines of a forum organized by the Adam Smith Institute in Moscow.
I think putting signs where stimulus money is spent is a great idea. But I think it's just missing something - they need to post on that sign exactly how much money was spent building the stuff.
It'll document exactly how the government is wasting money.
You've got your facts wrong. Under Bush, the TARP bill was not intended to create jobs. It was to provide temporary liquidity to financial institutions. The TARP loans have been largely repaid. However, the funds have not been repaid to the Treasury, they have been used for a slush fund by the Democrats. Most people do not make a distinction between TARP which did its job has been repaid, and the Stimulus which has been an utter failure. Please, please, at least get the facts right.
bobcrunch 1 year ago
Well joboyko3 to a typical politician representation means bringing home the pork which also means earmarks. What you want is someone who doesn't want to be a politician, someone who has actually worked for a living, not a community organizer.
Radioflyer911 1 year ago
This has been flagged as spam show
Fuck i hate your racist homo country, fuck america and fuck this guy.......
Obama, bush, clinton, oprah.... Wtf USA who are these commercial, fake, americanz? Do you people understand your country is fucked, your people are retarted, and obama is just a guy! Forget your ying yang racist bullshit and live as a world community, cause not only God knows how much your country should nuke itself to nothingness, but the rest of the world wouldnt miss you if you did!
Love ustralia
killaproductz 1 year ago
That`s why he`s in a suit talking behind a desk, he has no need for such money as one can easily see, so it`s obvious he is indifferent to it. Those poor disabled people can barely even get by on what they get anyway, president Obama promises much, but delivers little. The stimulus should have come in march. This isn`t a by the people country anymore it`s run by a bunch of ungodly unchristian people who are running it into the ground. Envision impeachment or move to the UK.
thekingofcraps 1 year ago
The United States is still the third largest exporter at nearly $1 trillion a year, although we still import more. We don't "not make anything." And services are not "fluff." There are many services that people need, just as there are many material goods that they don't need. Better to export, say, call center services like India does, than to export rubber hammers made in a factory. The United States exports a lot of food. That's a material good people really need.
baigandine 1 year ago
Son of a convicted tax cheat Irwin Schiff
arunmaroli 1 year ago
@arunmaroli
Does what your father do or what he as done in the past, determine who you are or whether you are right or wrong? It might change how other look at you through association but it doesn't change who you are.
yomamanodros 1 year ago 3
I agree with every single thing Mr. Schiff said here except the part about electing leaders. I don't want to be lead. I only want to be represented. That's all I ask.
jboyko3 2 years ago 9
@jboyko3 You need leaders too, because not all voters are intelligent enough to be represented.
TWSceptic 2 months ago
***** FIVE STARS *****
End The Fed!!!
thomastholin 2 years ago 4
"The U.S. Census Bureau and the U.S. Bureau of
Economic Analysis, through the Department of
Commerce, announced that total December exports
of $142.7 billion and imports of $182.9 billion resulted
in a goods and services deficit of $40.2 billion, up from
$36.4 billion in November, revised. December exports
were $4.6 billion more than November exports of $138.1
billion. December imports were $8.4 billion more than
November imports of $174.5 billion." - census(dot)gov
Parent33w 2 years ago
Meta-arguments--like the one at 1:45, are baseless and mulish.
JuanVoyce 2 years ago
Stimulus slowly turns to stimulating the downfall of the USD
racenemo 2 years ago
Peter, I love you man. Thanks for the truth and cutting through the BS on cnbc with a hack saw. I love seeing you shut them down....hehe
jaingxu 2 years ago
A voice of reason as always, thanks Peter!
yadranko 2 years ago
I wonder if shipping every conceivable job out of the country had any thing to do with the U.S.s problems??? Global Capitalism and Free Market Capitalism = enslaved populations!
justaoldslave 2 years ago
since NAFTA was enacted which is often blamed for shipping jobs out our unemployment has been lower on avg than the avg of the previous decades. shows you believe in slogans and nonsense more than reason.
global trade has allowed nations to specialize and has increased the US's high tech jobs while low skilled jobs have gone to other countries allowing their citizens to raise their quality of living and buy high tech products made in th eUS
umrmecheman 2 years ago
Dear Mr. Schiff, I understand this is youtube and lot of people use negative vibes to get more views, but in order to make a significant changes, I think it's more important to focus on postive; your agenda, for instance. With that strategy, it's not just about opposition and negativity, it's about a clear solution and positivity.
titansgs 2 years ago
More govt is not the answer..Grow up, the historical lesson is clear.
pismo10 2 years ago 3
Comment removed
baigandine 2 years ago
@baigandine
What you are missing is an understanding of how an economy works in a free market capitalist system.
jjrglobal 2 years ago
@baigandine
tax payer EVENTUALLY gets it back. currency is finite. when the government takes 1 trillion out that is 1 trillion less for private citizens to spend.
theMETALDOVE 2 years ago
What about the printing press though? Easy monetary policy by the Fed kinda changes things for the worse. They EVENTUALLY get it back after it's been devalued a bit.
rhettrongun 2 years ago
great logic. i say we have the gov't hire all the unemployed people in america and pay them say 50K...they'll just go out and spend it and put it right back in the economy. recession over people.
Please, starting thinking with your head rather than just looking at one thing. every gov't employee requires private money either borrowed, taxed, or printed. that is then less capital available to hire people in the private sector where real wealth is made, not some gov't job like the DMV.
umrmecheman 2 years ago 2
i have an even better idea though. lets just print out money and give it back to the taxpayer. the paper is pretty cheap and we have lots of it. everyone wins.
that a vote by someone like you can cancel mine out makes me weep.
umrmecheman 2 years ago
I believe he will be paticipating in a republican primary debate in a couple of weeks. As well as he seems to know the economic issues and the current focus on the topic, I would expect him to crush his opponents. Hopefully it is posted somewhere afterward, as I'd like to watch it. I'm not even from Connecticut too. It's just refreshing to see someone who sincerely cares about this country AND knows how to get it back on the track toward prosperity.
rhettrongun 2 years ago
@rhettrongun
interesting...in conneticut linda mcmahon is running for senate. she is co-owner and much of the business sense behind the wwe (pro wrestling). she's very shrewd and very smart. sounds like a fun debate. especially if it is moderated by hulk hogan and done at wrestlemania 34.
theMETALDOVE 2 years ago
lol, good 1
rhettrongun 2 years ago
I encourage anybody who follows Peter Schiff to read "Economics in One Lesson". It will give you great insight into Peter Schiffs philosophy.
phatcheck 2 years ago
Nice view count numbers. Get in gear for your senate run.
Truthpolice9698 2 years ago
Connecticut viewers: Does this guy have a shot? Is he generating excitement the way Scott Brown was able to? I sure hope so, we need more people who no business and finance in Washington.
umrmecheman 2 years ago
You're right, nothings much changed. I still am unemployed and even when you get hired they are desperate to find a reason to fire you :-(
litemirrors 2 years ago
Blame the lack of recovery on the government that borrowed money and sedated the economy from reckoning with its insolvency by keeping interest rates artificially low...that's called putting ruts in a house of cards, you prevent it collapsing temporarily, just to add more cards: it had to collapse to allow for stable growth. Stimulus takes money from saving for stable growth and pays people to do jobs that consume more capital than they create, hence the market won't do those jobs, that'sruinous
Nintendomanwill 2 years ago
It's not just that the government takes money that could be spent elsewhere and more productively, it's not just that they abuse our liberty by spending our money where we wouldn't spend it, where it don't gotta go, it's not just that they break windows by making jobs for jobs' sake: it's that when people are engaged in those jobs only supported by coercion, we have to pay for their running losses, if they made a profit the market would do them, the market needs to SAVE first, then comes growth!
Nintendomanwill 2 years ago
@Nintendomanwill i dunno, the govt weatherproofed several thousand homes for a mere $54,000 a piece.
54 thousand for F@#$! weather stripping. i'm thinking closer to $20.0o. of course i am not in a union.
theMETALDOVE 2 years ago
So all hail Peter Schiff, and learn the Austrian Theory of the Trade Cycle, on youtube (click on my profile to see the video) so you understand how the boom is a misdirection of activity and a causation of malinvestment due to MASS FRAUD by central banks who increase the supply of money in their coerced Fractional Reserve Banking even without increases in loanable funds, this will cause inflation and will deceive people as to their sustainable expenditure and causes bankruptcies, SO DON'T DO IT!
Nintendomanwill 2 years ago
I know someone very close to me who does not live anywhere near Connecticut, who has been fully unemployed for 10 months and still counting, and they still contributed to Peter's campaign. That's how badly they want him in the Senate so that there are more votes for liberty, not for tyranny.
ObiWanBillKenobi 2 years ago
Damm ...no more print more money....lol
IWashMyOwnBrain 2 years ago
@IWashMyOwnBrain You do realize that the Fed announcement is all window dressing, correct?
Duke is already backpedaling. Tomorrow being OptionX is going to be a wild-ass ride on top of all that whip-cream they're stirring up at the Fed.
With the Fed now buying all the debt, and China's purchases falling off dramatically, there's no end to the electronic printing they will now do until it comes totally unglued.
Today's announcement will rattle the markets, but it won't really change anything.
mcdonaldscalling21 2 years ago
We will see....yes its a small step but it sends a big message to the world....
Yeah tomorrow is gonna be wild...lol
IWashMyOwnBrain 2 years ago
Caution to all Grocery buying consumers in the USA. The prices of grocery items have jumped up in Half part of Feb... Looking like Walmart is going to take advantage to make some profit off from people that buy food items that use there state funded food stamps. In which Government support from the states are going to increase the prices of food items in super markets, aka Walmart super centers. Inflation increased in Feb.
idrobinhood 2 years ago
Schiff is understanding the nature of campaigning... repeat the same message, and then repeat it again.
FUZZYisBIG 2 years ago
No Hyper-Inflation coming like Peter says. DEFLATIONARY DEPRESSION coming!
I still gave money to Peter's campaign though
truthislibertyus 2 years ago
I am undecided on this... can you expand on this?
FUZZYisBIG 2 years ago
Yes I agree with Peter on many things ...but never on hyperinflation... the fed sent a message to the world today...I should have guessed this when obama started his fight with the banks....he no longer needs them to launder money in the markets because no more is being printed.
IWashMyOwnBrain 2 years ago
we were very stimulated throughout 2009 and will be even more stimulated this year. viva record bonuses 2010~~~
all hail the invention and continuous improvement of the great US technology called the printing press enabling the doubling of the monetary base within 4 short months, in turn creating the biggest avalanche of credit in the history of mankind, the channeling of all this credit to the government, big banks and major corporates, and the resultant very happy stimulation received.
trinomialtree 2 years ago
When are these right wingers going to drop the lies and just admit that the stimulus has worked and that we need more, more, more.
lizardgizard2002 2 years ago
Let's pretend. You get a cold, and come see me. I'm a voodoo doctor. I give you 7 monkey brains to eat as a cure to your common cold.
You cook/eat the monkey brains and 3 days later you feel better.
The monkey brains weren't the "cure" to your cold, even though your faulty logic might conclude that it is.
The reason you come to the "wrong" conclusion is your lack of understanding of the situation. Obviously nowadays my story is silly, but hundreds of years ago the understanding wasn't there
RikaKazak 2 years ago
my my you've had your share of kool aid. now run along little sheep.
leomessi102 2 years ago
who says its working? the same guys who had no clue the financial crisis was even coming? yeah lets believe those guys, they've only gotten every single thing wrong up to this point
atomicdogg34 2 years ago
In a recent poll only 6% of people responded that the stimulus created jobs. That's the American public. That's who matters. Not kool-aid drinking Obama economists. I'd post the link here, but it isn't allowed. Just google "6%, stimulus isn't working" and you'll find it. More government intervention and wasteful spending is definitely NOT what we need. If you seek a government to control your life, go to Venezuela or Europe.
jmn120176 2 years ago
this was uploaded on the 16th, but the Schiffster in the video says the date is wednesday feb 17th. either the youtube upload date is wrong, or someone is lying, and since Pete's running for congress, I think I know what is the answer.
mrzack888 2 years ago
OR the time-zone for him and the time-zone for Youtube's location are different... and the time he uploaded it is the 17th for him and the 16th for Youtube. Ever consider that, jackass?
mcompany97 2 years ago
Once again, lack of understanding of the complete picture drives someone to a faulty conclusion.
How ironic that you demonstrate this faulty logic and it's the exact logic that Schiff is talking about in his video.
RikaKazak 2 years ago
It's because he actually ate those monkey brains..lol. That'll fudge anyone up.
mcdonaldscalling21 2 years ago
Who paid for the signs? If it was the taxpayer isn't there a law to stop politicians from using taxpayer money to further their career?
uhateusaFU 2 years ago
Schiff for president !
purplepick100 2 years ago 7
All things flow from a healthy economy. Peter is absolutely correct.
.
kmg501 2 years ago
who is unhappy? record bonuses and parties galore. this is the most vintage year ever and may this go on in perpetuity.
trinomialtree 2 years ago
@trinomialtree
lol you are delusioned.
coldcar1 2 years ago
I've dubbed you Peter Stiff. Cuz you can't stimulate the economy with a limp dick.
Thats a compliment. In a vulgar way I guess.
Keep it UP.
HeartOutOfSeason 2 years ago
As always great video
BITARTEN2 2 years ago
Western economies have been thriving off housing bubbles which import wealth into countries to stimulate local economies. Debt remains a non issue as long house prices increase, but when house prices reach a price beyond median wage earner, house prices collapse. Government then tries counter drop in revenue by importing their own debt under the name of stimulus packages but government is unable to import as much debt as the private sector. First black president is nothing more than a fall guy.
0urGaia 2 years ago
Peter, your phone has a message.
notmarcofilms 2 years ago
Unhappy anniversary everyone! Here's to another year of poorly designed and thought out government intervention!
doc7474 2 years ago
"How do you feel about the police officers, firefighters, and teachers' jobs that were saved by the stimulus bill?" So all of the government budgets have been slashed down so that only the police, fire, and teachers were left? The "stimulus" money didn't save their jobs, unless they were to be cut in favor of building the Reid-Pelosi garden. Instead, it simply enabled governments to continue to spend money on the other "essentials".
chicon1776 2 years ago
@chicon1776
public sector jobs retract wealth from the economy FACT.
coldcar1 2 years ago
How do you feel about the police officers, firefighters, and teachers' jobs that were saved by the stimulus bill?
brothermikefan 2 years ago
Right on Peter.
lmankj 2 years ago
great video
a4finger 2 years ago
Wishful thinking, Peter. You'll never reach you goal relying on good politicians.The System works this way: a person works for the System or doesn't work in it at all. This is in no way a random process that you tr to cure via election mechanism.
666myas 2 years ago
I hope you are wrong on that, otherwise it will mean revolution and that can get real ugly.
Considering the number of liberal idiots I had the misfortune of trying to correct, I think you might be right but I certainly hope you are wrong.
AlbaGoBragh 2 years ago
I'd also like to be wrong ...
666myas 2 years ago
This has been flagged as spam show
"If governments could create prosperity by spending money there would be no poor nations."
that sums it up right there
douglassx86 2 years ago
That was so insane seeing the greek unions protesting while the E U was meeting on weather to loan them more money.....then they bombed a bank...lol
Talk about biting the hand that feeds you....Bad dog Bad....lol
IWashMyOwnBrain 2 years ago
I wonder if we all missed the PUN
People (Gov) trying to claim CREDIT for the stimulus !
GuildF40 2 years ago
We were stimulated with a 1/4 mile side walk. Total employed, 20 people for 3 months, a huge sign that points to this farce, glorifying how our wonderful governor should be credited. You know Peter, he should get ALL the credit. 3 months later, those same migrant workers (not illegal, just not from our town) and the companies (again from another town) are gone. But what do we have? A non-producing sidewalk. It generates no revenue, and contributes no taxes. Well done governor...(golf clap)
imataxslave 2 years ago 3
loved the way Glenn Beck was celebrating this anniversary too
sabrinacle 2 years ago
You mean DEPRESSION!
Hendo1974 2 years ago
It seems to me like a big government just can't f*ck off...
GompCelticPL 2 years ago 2
It's a cheap microphone. He sounds better on TV.
rxbladess 2 years ago
Well,DUH,Pete.
You ever hear of Ron Paul?
shiddy67 2 years ago
errm Peter Schiff was Pauls economics advisor during the 2008 presidential campaign.
coldcar1 2 years ago
errm maybe thats why both of them are going nowhere soon, haha.
and its 'delusional' not 'delusioned', funny guy.
trinomialtree 2 years ago
6% believe the stiulas worked and 7% believe Elvis is still alive....lol
IWashMyOwnBrain 2 years ago
No gold for me....demand down price up....IMF dumping more on the market....they sold the last bunch to India at the top of the market..
IWashMyOwnBrain 2 years ago
@IWashMyOwnBrain It's certainly looking that way lately.
I hold no physical gold as I dumped it on the GLD equiv run from 104 to 109, but I do own gold shares still.
I own enough silver to gag a rhino so we'll see about that. My US dollar short is about flat since the Dollar has been chopping like mad for what seem to me to be an eternity. I am a patient guy, but this choppiness is bagging on me. I've made better gains in other areas during this time so in general I am not overly annoyed, yet.
mcdonaldscalling21 2 years ago
Just to keep you in the loop Iwash, I pulled 1/2 of my usd.cad short off today to lock in 250pip gain. Pulled some huge oil profits off (+12%). Stopping 2/3 gold shares (ABX) around todays highs, going into optionX tomorrow. Still sitting on that buffalo-sized silver position. Still staring at the meat-grinder eur.usd trade and wishing it would do anything but flop around like a fish out of water. That Acropolis column is going to look sweet in my living room.
mcdonaldscalling21 2 years ago
Wow nice moves.....I am loving the dollar now...
IWashMyOwnBrain 2 years ago
Gotta tell you Iwash, I went back short the USD.CAD on that anemic dollar push early this AM at 1.0505. It seems to me the bigger message was delivered to the US, "no-one's buying it". Even the EUR gained back all it lost overnight. Gold flatish, oil up and silver up a tad.
Took a lot off before the close.
I can't wait for Monday..lol.
mcdonaldscalling21 2 years ago
Better watch that one close short term. I am looking for EUR/USD to hit 130 then rebound well above the 155 level. As the market goes down the dollar will go up. Never underestimate the repetitive stupidity of the masses. They'll still come to the dollar when the market retreats.
jjrglobal 2 years ago
Well, I am long commodities here for all the right reasons, but when I see the IMF dumping 200T of gold I get a bit nervous knowing how they can man-handle the short term market with my ass used as the prying device. Not going to be fun for a while. Gold dumped large late today when that news came out. Picked up more silver on the pullback today. Sitting on about 1500oz at current price. Locked and loaded with cheap oil so we're happy there. US Dollar simply refusing to roll over yet.
mcdonaldscalling21 2 years ago
Dollar wont roll with the euro going down....
IWashMyOwnBrain 2 years ago
@IWashMyOwnBrain that's like saying the water is wet. Kind of redundant and silly, but mostly just brainwashingly obvious, doncha think?
mcdonaldscalling21 2 years ago
Yeah...I cant believe anyone thinks Greece will change its ways.....i think oil is cheap here also.
IWashMyOwnBrain 2 years ago
I can't believe anyone thinks Greece even matters. Bailing them out is about a month of US interest payment. It's irrelevant to the greater picture. Of course if the euro falls any more I am going to the Acropolis and stealing a column and taking it back to my place.
The saving grace for my dollar short was that I did it mostly against commodity currencies which evidently was the key.
The US isn't changing their ways either.
mcdonaldscalling21 2 years ago
Looks like Greece and the US have a lot in common now. i just hope the rest of Europe will keep on doing what they're doing and living right.
I think eventually, the US will clean up its act though. We will be a big part of history.. believe it.
MrRuigni 2 years ago
While the US isn't alone, it's not like they can mathematically ever dream of meeting their debt obligations. It's not even a close contest. It can't be done. The US is Greece with a much larger toilet bowl. The most amazing thing to me is that it actually hasn't collapsed yet. The sooner the better in my books.
mcdonaldscalling21 2 years ago
My theory is that because the debt will NEVER be paid back that things will eventually have to start fresh. Might as well run up the debt at this rate rather than bring it all down frankly. Peter Schiff preaches the right stuff, but unfortunately, hes in 1930 lol.
Im surprised Greece is still going personally.
MrRuigni 2 years ago
Comment removed
BeeyondNeptoon 2 years ago
we must create the changes sought with our own actions! washington is done! but this country will go on!
XxgoetfacexX 2 years ago
washington....as obama put it...wait na na na not like that puppet put it....WE the people need to create our OWN change and stop thinking of these politicians as Gods. As if there is no moral implications for us not giving a damn all these years about what politicians do! or to always take a defeated attitude and just rationalize its been corrupt and always will be there is nothing we can do! corruption will always exist! but at what level? and eventually that corruption will lead to oppression
XxgoetfacexX 2 years ago
This comment has received too many negative votes show
public works projects are not meaningful jobs?! How are these jobs "sedatives"? This idea of wealth creation is a fallacy.
This is such a losing argument. I agree that bailout money giving certain corporations an unfair advantage, but these blanket generalizations weaken any argument about government spending hurting the economy.
postrealitysyndrome 2 years ago
They aren't meaningful in the sense that they do not add jobs to the economy & they are non-productive from a national deficit standpoint. The money used to create these jobs was first taken OUT of the economy & then put back IN (after the waste of transfer has taken place) - not where the market values it but where bureaucrats & politicians (who don't understand the economy) choose. It's like filling up a pool by taking water out of the deep end & dumping it in the shallow end, at best.
mjhonsun 2 years ago
Peter, you have a client holding the line on your phone!
mitasse 2 years ago 3
No, it's Chris Dodd. He's calling to ask Peter to stop smearing his legacy.
justgetsome 2 years ago
We need to dismantle Washington. Thanks for the update Peter..
jsmythib 2 years ago
what the hell are you talking about? He happens to be an amazing public speaker who knows how to work a crowd. you are way off base
jjeeve5 2 years ago
As usual, very articulate and very correct. Maybe people will begin to understand the decades of damage wrought by Keynesian doctrine as the atomic debt bomb levels economies worldwide. I suspect that most will not, and that the responsible parties, governments and big banks, will do everything in their power to deflect attention from the real causes, so it is up to us to continue carrying the torch of education.
toluca56 2 years ago
Right on Pete! Why is it like everyone has forgotten Bushs stimulus of 2008?? Crazyness, that was suppose to help the economy not get worse, then it DID then Obama needed HIS stimulus and low and behold they BOTH didn't work!! Like we didn't know they wouldn't work but they didn't listen, psh well thats one freaking thing they (poloticians) know how to do is waste our money!! Like I said before we NEED to vote them out every 4 years for them to get it!!!!!!!!!!!!
kev492001 2 years ago 3
Bush & Obama stimulus=more debt
Melville10 2 years ago 2
lo and behold it is. I dont mean to be annoying mate.
Tomminightmare 2 years ago
@kev492001 Lo and Behold, BOTH stimuli were passed under a DEMOCRAT congress! Wasteful spending at its best!
jmn120176 2 years ago
Peter rocks! US citizens are very fortunate to have him!
jcortez73 2 years ago 6
Nothing can be fixed until you take back control of your money supply from the private bank who has sole issue of your currency.
PlatinumGordon 2 years ago 3
This is the first video like in a week. Huge drought.
Stimulus is a disaster.
TheLiberalssuckdick 2 years ago 3
Mr. Schiff, you are too good for the senate.
They (in the senate) are either cowards or idiots and will not follow your leadership in the understanding of the US Economy.
truthsabre7 2 years ago 3
maybe if the government spent less of our money and lowered the taxes they steal from us . just maybe that would help the economy but til then we are scewed
sparky41684 2 years ago
When will "the day" come? I know its going to come but I cant find anyone saying when or an idea of a time frame.
Brooke111876 2 years ago
@Brooke111876: I think the day comes when the world and especially China stops buying our debt.
SevereTstormFan 2 years ago
Yes I know what will make the day come I guess Im a planner type and I need a freaking date lol
Brooke111876 2 years ago
Stimulus:
"The serfs are restless - throw them a bone before they realize how expendable we are!"
I see one of those stimulus money spending signs several times a week and I give it the finger now and then.
continuityofliberty 2 years ago 4
It is awesome to see as I speak to people on the street that they are finally getting it.
The Government is the PROBLEM !
fuzzybekool 2 years ago 3
We already have the "stimulus signs" in Canada..... really boosts moral... makes you feel like the gov't is actually doing something about the economy.
partyhouse88 2 years ago
sarcasm?
myheadhurtsnow 2 years ago
Yo Peter get someone to teach you the double Windsor Knot will you .... =D
zUkUnFtsBeAt 2 years ago
Mr. Schiff, when you refute others, please mention that 1 out of 3 people in Greece is a government employee.
And please keep on mentioning that government jobs are BURDEN to the country because tax payers have to support them.
Mainstream media reporting newly created government jobs as GOOD NEWS drives me crazy.
KimInLosAngeles 2 years ago
This comment has received too many negative votes show
I think the stimulus was a great idea. I dunno what Peter is talking about. Businesses would have went bust left, right and center. It would have taken years to rebuild from a massive depression
Seano71 2 years ago
seano71, his point is that it our economy would be better off in the long run if we had faced our situation without the stimulus. It was a short run solution that will have very negative consequences in the long run. Our government never looks at the long term anymore, they only focus on what will get them elected again.
yomamanodros 2 years ago
I know where he is coming from. I agree with him for the long term. As for the stimulus, it was spent on infrastructure and clean energy. That is focusing on the long term. Obama was left with the mess Clinton, Greenspan and George Dubya left him with. Give him a chance.
Seano71 2 years ago
@Seano71
Niet! Where does the government get that stimulus money at first? I believe this is a rational question to ponder upon! They either print it via the FED or borrow from the Chinese, thus making the US into a dependent economy. No, the crash was caused by a series of stimulus that began with Clinton internet boom and followed with the Bush administration: All directed by the great "sorcerer" Greenspan!
We need to flush out the bad sectors of the economy and rebuild on solid foundation.
AFRIKTODAY 2 years ago
True but what happens when all those things are built?
All the workers lose their job after it is done, and we are back to the problem.
SENTRY000 2 years ago
Your nation doesn't have to spend as much money fighting wars for oil and purchasing it at an ever increasing price. Not to mention, paying for the future damages caused by climate change. This will allow food prices to fall. With a better infrastructure it will become faster, more efficient and ultimately cheaper to transport goods. End result: stronger economy
Seano71 2 years ago
Was the stimulus even really that huge? Didn't China copycat with a 500 billion dollar stimulus, which represented a much larger share of their GDP?
baigandine 2 years ago
@baigandine
one- china cannot be trusted to report their own revenue and spending etc. 2-the stimulus is less then a zero. it is a negative so what would be the rational in emulating the chinese communist?
theMETALDOVE 2 years ago
@baigandine China did do a stimulus as well, but there are key differences. First off China actually has money. Every single dollar we spend on stimulus had to be borrowed so it actually will end up costing us much more than reported. Second, China produces things while the US has an economy that is mostly made up of consumption and service sector fluff. If we were borrowing to build factories that would be ok, but we are borrowing to pay people not to work and to bail out wall st.
yomamanodros 1 year ago
U need some help, some serious economic help. im not talking about a bailout im taking knowledge.
MIT2004 2 years ago
why? I've been following Schiff's vlog and read crash proof 2.0, so I can see exactly where he is coming from. For the long term, he is correct but a stimulus was needed for the short term to stop the whole economy rotting away. Its like keeping a plant in during the winter, give it some heat to keep it warm to stop it dying and then when the summer comes it can survive on its own.
Seano71 2 years ago
lol, nice analogy but things dont work like that in this situation. here is a good one the building is falling apart in a movie and all you did with the stimulus was put PAUSE and as soon as you remove pause the building collapses. the END
MIT2004 2 years ago 4
awesome analogy! I'm stealing that one heh.
brown55061 2 years ago
thank you, although i made it up i have to give credit to Peter Schiff because he is always using analogies so that we may understand economic issues or events. Peter Schiff the Godfather of Analogies.
MIT2004 2 years ago
@Seano71
Do you really think our economy needs to keep functioning this way though? Yes, giving these institutions billions of our money they were able to keep the doors open. But the very people proposing bailouts are the ones who created the bubbles and dollar destruction. This bretton woods system needs to crash. The sooner it crashes the sooner prosperity can realign with a true currency based NOT on paper and debt.
brown55061 2 years ago
They definitely shouldn't have been allowed make so much money for sure. A stimulus spent on transport and energy works. The western world needs to be self sustained on their own energy. In the future, the banks won't have so much freedom. Capitalism appears to be changing for the better.
Seano71 2 years ago
Not true Sean. There were those of us that didn't need any stimulus as we had our own plant watering and heating system built. What would have failed would have been the weeds who didn't properly manage their requirements. I would have loved to have picked up what the weeds left behind, but I was prevented by a government who stole from me what was mine to give to the weeds who wasted the same opportunity I took to shore up my garden. Letting them fail would have been perfect for the prepared.
mcdonaldscalling21 2 years ago
You need to see his previous videos for a detailed explanation of this.
Basically, these stimulus packages are only more of what created the problem: lots of money on credit. It is the same as giving drugs to a drug addict, it is a temporary high, but the more this happens the harder the crash.
elboertjie 2 years ago
Dude, there is a reason business are failing when the gouvernment takes its hand off it. The market doesnt want them there!! its overfed! If i got gouvernment money to stay alive selling VHS machines when noone wants them, wouldnt you think it resonable for that money to be used more visely by the free market on blu-ray or new technology instead?
CortoMaltese86 2 years ago
Peter, I sure hope you're elected into Congress. We definitely need you in there.
john2knj 2 years ago
nicely said peter. 5*****
lindabebe835 2 years ago
im working on unemployment for 2 years now hmmm i wonder if i can get a job at macdonalds?
BeantownJim 2 years ago
no way. Washington would never stab the people in the back, you know, unless we paid them too.
overtbellicosity 2 years ago
is gold back in bull mode
dukee155 2 years ago
Happy Anniversary! I'm unemployed for 1 year now! Nice post Pete
mja2035 2 years ago
WooHoo Peter! Thanks for the vid!
BMWg84 2 years ago
I can never decide, are politicians stupid or evil,messing with the economy.
express375 2 years ago 3
just conceited
n66178 2 years ago
I rated this a 1 star because I can't get this vidio to play on my iPhone. Please fix it so millions of iPhone users can watch your informative videos.
sedallaspa 2 years ago
Trying to celebrate anything w/ this government is like celebrating an anniversary with an abusive husband who beats you on a weekly basis.
imsailing2 2 years ago 5
cnbc saying gold report indicates demand down 11% in 2009
BeingInTheMessiah 2 years ago
You believe any statistics that mainstream media puts out? Their goal is to keep us in the dark for what is really happening.
residentzombie 2 years ago
I know but they were citing a source other than themselves and I was wondering if someone was aware how the lie was made. sort of like how the unemployment numbers are phony
BeingInTheMessiah 2 years ago
Unemployment numbers are fairly legit (when comparing unemployment data over the course of history), but most people don't understand that there are the U3 and the U6 numbers and America doesn't use the same unemployment statistic set that they used during the Great Depression. I think back then they used the U3 data and now we use the U6 data.
residentzombie 2 years ago
the point I was trying to bring discussion to is that similarly, by using the U3 and comparing it to an era where U6 was the standard, how could this 11% be a non legitimate representation of gold demand. like for instance, possibly excluding some large spectrum of what actually constitutes gold demand
BeingInTheMessiah 2 years ago
and this on Bloomberg
Feb. 17 (Bloomberg) -- Billionaire George Soross Soros Fund Management LLC more than doubled its holding in the biggest gold exchange-traded fund in the fourth quarter after bullion advanced 8.9 percent to a record.
MEXBOL 2 years ago
obama has left you a message on your phone in the background...its flashing....he says he is pissed you are ruining his diabolical plan to destroy America. SCHIFF FOR SENATE....RON PAUL/PETER SCHIFF IN 2012 !!!!!!
TheNRA4ever 2 years ago
This from today's reuters fyi everyone....
MOSCOW (Reuters) - Pension funds have started investing actively in gold last year viewing the metal as a safe long-term investment, the head of the World Gold Council told Reuters on Wednesday.
"Last year we saw a very notable switch of pension funds to holding gold for the first time," Aram Shishmanian, the CEO of the council, told Reuters Financial Television on the sidelines of a forum organized by the Adam Smith Institute in Moscow.
MEXBOL 2 years ago
I think putting signs where stimulus money is spent is a great idea. But I think it's just missing something - they need to post on that sign exactly how much money was spent building the stuff.
It'll document exactly how the government is wasting money.
Wcoltd 2 years ago
A CBS poll show that only 6% of Americans believe the stimulus created jobs. Pete is right on track as usual.
captquest1 2 years ago
@captquest1 Wow, if that's true, it's a pitifully low number.
jmelkis 2 years ago