@flanksteak2 As opposed to diverting all of the money to DC cronies in the form of T-Bills?
Additionally, if SS was entirely voluntary you could invest the same amount in T-Bills and net a better return. So, you could avoid "Wall Street cronies" by investing in the same paper the SS trust fund does, but without the bureaucratic overhead. Or, you would have the freedom to invest with someone who will put that capital to productive use(and reap the benefits of that). Liberty, what a concept.
@Ragnarokgn I see. So Peter and Friends didn't need a bailout or the keys to the treasury to keep themselves and their investors from being left with nothing.
They got the keys to our neighborhood banks after Glass Steagall was repealed, now we should give them more with which to create more bubbles and bailouts and dismantle anything that benefits the average citizen like SS.
Ah yes, all that investing that Wall Street in the United States by selling Government and Mortgage debt.
SS is simple. Some of your paycheck is skimmed in order to help old people make ends meet.
Voted in by congress and approved by the American public. The very definition of liberty and democracy.
Bailout of Peter and Friends crony capitalism. Dismantling SS so Peter and Friends can walk away with even more of the publics cash. Crony capitalism and highly destructive to the social fabric that makes up America.
@flanksteak2 SS isn't welfare, or that isn't how it was sold(or voter approved). It is a retirement fund ran by the government where people pay into the system and only those people withdraw from it. It is now a welfare system where one generation is paying for the retirement of another. The old need it because they lived their life with the expectation of it, but if the young do the same they will have nothing.
PS: Democracy is not Liberty. 2 wolves and a lamb vote on the dinner menu.
@Ragnarokgn "One generation is paying for the retirement of another"
And on and on it will go. What do you think happens when the money is "invested" in a company? The company must pay profits that could otherwise go into workers pockets back to shareholders so they can provide a return to themselves and the investors.
SS takes the Goldman Sachs and Peter Schiffs out of the equation so that unnecessary parties are not able to skim the take.
@Ragnarokgn "One generation is paying for the retirement of another"
And on and on it will go. What do you think happens when the money is "invested" in a company? The company must pay profits that could otherwise go into workers pockets back to shareholders so they can provide a return to themselves and the investors.
SS takes the Goldman Sachs and Peter Schiffs out of the equation so that unnecessary parties are not able to skim the take.
Schiff and friends would have lost everything for everybody without a bailout.
I notice you primary focus is attacking American workers and not focusing on the massive defrauding the U.S. suffered at the hands of the banks you want to give our retirement money to.
Afterall, the anti SS agenda is really about these thieves even more rich than they already are and attacking and taking away from the working people you hate so much.
@flanksteak2 I want people to have the freedom to do what they will with their own property. You want the Federal Government to force a worker against his will to invest in an abysmal retirement scheme.
A 25 year old starting now will only receive 80 cents on each dollar he puts in, so forcing a person into said arrangement sounds pretty "anti-worker" to me.(CBO low ball)
Schiff & friends/wallstreet arguments are a red-herring, so stop mindlessly drooling it.
@Ragnarokgn Only if you don't upgrade the system. A minor increase in the payroll tax would fix the system.
They aren't Red Herrings. That is the alternative. The people that are calling SS a ponzi scheme are the ones that still want to keep the payroll tax in place but take that money and dole it out to private wall-street managed accounts.
You know that right?
You will still be taxed but your tax dollars will go to Wall Street gamblers like schiff.
@Ragnarokgn The freedom argument is the Red-Herring. The people, through their elected officials decided that SS was a good idea and have supported it for over 70 years.
The same failed generation that calls SS a ponzi scheme is the same failed generation that deregulated schiff and buddies and gave them full access to the U.S. treasury to hedge their gambling bets.
Remember Gramm/Leech/Bliley in 2000 and Goldman Sachs converting to a bank holding corp in 2008?
@flanksteak2 I'd say your argument is a non-sequitor. Applying the freedom of people 70+yrs ago to vote for FDR or Hoover (that is, freedom to vote for 1of2) to today's youngsters not born then is obviously a poor application. Wouldn't you say that real freedom is to allow people to opt out (esp. since it's broke), keep what they earn, plan (or not) for retirement..?
Please tell me you're not blaming GLB or repealing Glass-Steagall for the financial crisis... even Clinton doesn't buy this.
Opt out, put your money into the unregulated banking system which will soon require another trillion dollar bailout.
6 to 1 half a dozen to other, except with SS Schiff and his millionaire cokehead friends and their merry band of anti-united states foreign collaborators don't get to take a portion of the pie and run.
@flanksteak2 For one, if I put my money in banks and got a free bailout, I'd be in good shape! But it would be pretty hard to retire on 1% interest.
Basically, you think it's impossible to generate a retirement fund w/o the gov't? Who says I couldn't get a better ROI than SS can? If I fuck up, that's on me and I'll have to deal w/o any gov't safety net. Many people rely more on pensions, 401Ks..anyway and their SS gets slashed in half, so your argument is already invalid for those.
@TheFreezer872 "Basically, you think it's impossible to generate a retirement fund w/o the gov't?"
Depends on how much money you make. It's a wash but it provides a Guarantee that when you get old, that you'll be able to make ends no matter how many financial crashes Schiff and friends cause.
What's the difference between forcing a company to pay profit to shareholders to go into my 401k VS simply taxing working people?
@TheFreezer872 "Please tell me you're not blaming GLB or repealing Glass-Steagall for the financial crisis... even Clinton doesn't buy this."
And there are people who also think the Wars in the Middle-East do not hurt us financially. There is no evidence to support their opinion just like there is no evidence to support your opinion. You assume whichever point of view you feel will benefit your pocketbook the most.
GLB is the direct cause of the 2008 financial "crisis".
@flanksteak2 There are also people who believe in Scientology w/o evidence... what's your point?
Staying on topic, can you elaborate on how GLB directly caused it? Was it b/c banks which merged could now underwrite and/or hold derivatives like MBS, CDOs..?
But banks could already do that, not just IBs..plus not many merged b/c of different PP&E needs and customer base, much like why banks didn't want to merge w/ insurance co's- see why Travelers didn't work w/ CITI.
@flanksteak2 Sure b/c it wasn't insurance in the classical sense of say life ins. but CDS's- unaffected from GLB. If anything, the CFMAct put some minor anti-fraud regs on it from otherwise being unregulated due to its unique nature- not quite ins., not quite a security. I won't pretend to know all the complexities, but I know they aren't considered ins. b/c of constant mark to market collateral reqts- something GS used to extort the shit outta AIG.
@flanksteak2 CDSwaps (cap reqts or what not) but the buyers shouldn't be scapegoated even if they were naked or insuring more than what they owned. Blame can be distributed among AIGFP's risk mgmt/poor diversification, ratings agencies, underwriter insider info, homeowners (many of these problems due to gov't regs in the 1st place I might add) but not CDS's.
Basically, it's like blaming puts for a shitty stock plummeting. Measures like these to hedge risk actually provide balance.
@TheFreezer872 The problem was allowing insurance companies, neighborhood banks and wall-street to interact.
Without GLB, these interactions would never have occurred and there never would have been a push nor would the capital have been available to create the housing bubble.
@flanksteak2 No, believe me you're putting way too much emphasis on GLB. AIG itself was composed of insurance and financial products/services back in the 70's, well before GLB. Banks have always managed risks via swaps. Derivatives have always been around.
Why don't you consider the ratings agency oligarchy- made possible by gov't regulations- as to why they rated MBS as AAA? Or why FMAE/FMAC pushed for low-income housing (via capital and policy)? Or how about the home buyers themselves?
We are not a democracy dammit! "I pledge allegiance to the flag of the United States of America, and to the REPUBLIC for which it stands . . . " It says in the Constitution "republic form of government."
People contributed a percentage of their paychecks every week their entire life in exchange for the promise of that social security check.
Who the fuck are any of you to decide who does and does not need something, or who is or is not entitled to receive the benefits of a forced arrangement whose terms they unfailingly adhered to?
No one "needs" shit besides food, water, clothing, and shelter. Does that mean anyone with more than that should be forced to forfeit what they have earned?
@MiHiVidz SS needs to be reformed now. If everyone can put aside their partisanship for a few minutes, a solution can be found.
Bi-partisanship commissions have proposed keeping SS the same for those nearing retirement, but slowly raising the retirement age for those younger workers.
Means test Medicare so those who are wealthy help support the less well off.
@ttube438 It's not "partisanship" to defend Social Security. It's protecting the seniors and the disabled from being condemned to a brutal existence of starving in the streets!
What you may call "partisanship", I call "humanity".
@MiHiVidz . The only way seniors will be starving in the streets will be if obamacare is allowed to continue. obama looted $500,000,000,000 from medicare (seniors) to fund obamacare. Liberal socialist policies are to blame for the recession we are in now. High taxes on small businesses and extreme regulations = recession. The only thing to do now is cut taxes for small businesses and repeal obamacare, sarbanes / ox & frank / dodd.
@ttube438 Oh shut the fuck up, because you obviously do not know what it is like for people who DEPEND on Social Security! I'd like to see you try to live on the pitiful amount they get each month.
And by the way, that crap you puke about "small businesses"? Mega corporations like Exxon (which made BILLIONS in profits each year) are listed as a "small business" with the IRS. So when you whine about "small businesses", you're a stooge defending the corporate elite.
@MiHiVidz Why are you so angry? You don't engage anyone in thoughtful debate. Once you feel you are losing the argument you start spewing foulmouthed epitaphs.
No one with an ounce of intelligence thinks Exxon is a small biz. They're not listed that way with the IRS. They are a sub-chapter C corporation with gross revenues of $350 Billion. Maybe you don't know this but about 75% of private sector jobs come from small biz, those with 500 or fewer employees and less than $20M in revenues.
@ttube438 You bet your ass I am angry! I know of several people who NEED Social Security in order to survive, and it totally disgusts me how people like you act like they are leeches or cheats gaming the system, or that they are plotting to bring down the country simply because they want a roof over their head and food to eat.
These people will DIE if you take their Social Security away from them. You may as well be cuting off their oxygen supply. Fuck each one of you who try to make that happen
@MiHiVidz You don't have any idea what you are talking about. You are just full of hate. One last question for you as I will not waste any more time on someone so Hateful and closed minded.
Why do you hate America so much? Now the question is rhetorical as I couldn't care less for anything you might have to say. I do have one final piece of advise, or therapy if you will. Put down your laptop, go out side and shout as loud as you can, I LOVE AMERICA!, I LOVE AMERICA!, I LOVE AMERICA!
@ttube438 Oh, please spare me your smugness & faux intellectualism. I know very much what I am talking about. Unlike you, I encounter these people every day a&know what they are suffering through, & what will happen if they lose their Soc. Sec.
You know nothing about the plight of people who need Social Security in order to literally survive.
And I don't hate America. Just assholes like you who want to dismantle every decent thing that has been done in the past 100 years in this country.
Big Banks controll our money, Big Oil our world energy resources, Big Media our information, Big Pharma our health,and other corporate predators exploiting our lives for profit. Freemen we call ourselves and live in the richest country in the world, but they have looted and enslaved us. After a century of presperity we Americans must go to the Emerging countries and say, may we borrow a few of dollars to feed ourselves . What is the matter with us?
They have been robbing me since I was 14 years old and I am 56. I don't count on a nickel. Stop the theft now. Thank you Peter Schiff for trying to educate the masses.
@joepeeler34 : Yes we need new priorities, throwing the poor under the bus should not be 1. Not if all the gains of American prosperity have been concentrated at the top .Govt has never been and ostacle to the wealthy , they are always colluding as long as the people have just enough to eat. Now high unemployment and a crash in sight ,the govt has to turn on the printing press. But the wealthy are more concerned about how the gov’t is devaluing their dollar investments . They dont care you.
@vinnykster:You sound like a sheep and need to start thinking for yourself. If you are not heavily invested in securities or deal in gold and precious metals, I suggest you find another past time. Investment brokers like him caused the global meltdown .They have benefited from economic changes over the past 30 at the expense of working Americans. Now u want to listen to him tell you bout Jobs and SSI? They worry more about where to put their money in case Bernanke turns on the printing press.
In an Era when ideas of equality and freedom of the individual have penetrated the various classes. socioeconomic safety nets, are transfer programs seeking to prevent the poor and economic loosers from shocks that trigger uprisings. Remember ,on the eve of the french revolution, France was effectively bankrupt too. We need the programms in order to save US from chaos. They emptied Americans and are now abandoning the US to do the trick to the Emering markets. The govt has to intervene!!
@spat846 It's the govt. programs that caused the "shocks" to begin with for crying out loud. The country was a lot more stable when we didn't have a fed. reserve system, paper money, and massive welfare state, etc.
The safety net used to composed of mutual-aid societies, private charities, churches, neighbors, family, savings, etc. If a large boulder is removed from the middle of the river, will not the water redirect? The govt. programs are the large boulder, and the river is society.
GOD SAID - CURSE ISRAEL AND YOU WILL BE CURSED, BLESS ISRAEL AND YOU WILL BE BLESSED!!! IT IS WRITTEN THAT IN THE LAST DAYS ISRAEL WILL BE DIVIDED.. AND THAT WHOEVER PARTICIPATES IN THAT WILL BE CURSED! HELL IS REAL! DON'T PARTICIPATE YOU WILL BE CONDEMNED. type in GLENN HIGHLIGHTS @ YOUTUBE.
The country is in a very unhappy state because the few skilled in aquiring wealth monopolize it, while the mass donot know how to keep any. Workers are without Jobs,merchants have no customers, people dont have money to feed themselves.The money left their pockets and slipped into the hands of the few skilled in aquiring wealth.The choices now is either the wealth holders assist expanding prosperity for the country or a reactionary politics that turns the various classes against each other.
US Winner take all Casino Economy with the Money Experts accumulating all the money . After years of prosperity, Americans seem unable to support themselves cause all the money involved has found its way into the pocession of a few rich and those like Mr. schiff with expetise in aquiring wealth.The rich must assist the Govt to expand the circle of prosperity (ie SSI) and continue flow of money .Put your Ideoogy aside, the dice is always loaded against the employee .
@spat846 BAAAAA BAAAAA BAAAA <<< THAT'S what you sound like pal! A fucking sheep! Here's a piece of advice dude... Listen to Peter Schiff! His knowledge of this issue is far superior to yours ... obviously! lol!
@peter, what does the end look like becuase it clearly looks like America is not going to do the right thing. The govt. is never going to stop spending and big business is to fucking greedy to give a damn. At the end of the day rich ppl will take their wealth and run and the rest of the poor suckers will be left holding an empty bag. Please tell me what America looks like after her FALL.
This is how I changed. Was introduced to Ron Paul through a best friend. Worked for the Government + was a Police Officer + become concerned about constant domestic terrorism bulletins from DHS. Found Peter Schiff. Found the Austrian School of Economics. Then quit my job, left the US(S)A, took my Dollars out of the bank + diversified them into silver, gold, francs, euros + land, and now I try to wake everyone up to the threat that is the Federal Reserve as ''Federal'' as Federal Express
Why is Peter Schiff always pretending to interview people when he already has all the answers himself, and does not want to listen to the people he is interviewing?
@frifilmfotografen He does interview people he agrees with. Check out interviews with Ron Paul, Rand Paul, Thomas Sowell, Thomas Woods, etc. It's when some crackpot socialist comes on that he constantly interupts.
Politics and rhetorics aside, just technically and mathematically speaking, neither ponzi scheme or social security (the way it is) is ever going to work. If you have one, ask an insurance actuary friend of yours (if you have one. - I used to work inside an insurance company and know some insiders technical information), and ask him or her for an honest opinionl. The math of social security and balanced budget the way it is are never going to work; a reform is mandatory! IMHO
Any professional actuaries please? Please join the discussion and offer your expert opinion and tell us if people pay in $10 can the system afford to pay them benefit of $15 ? Without healthy return, without borrowing from future generations, and so forth! The bottom line, if you do not reform the current social security (and Medicare), will it ever work for us?
The only difference between social security and a ponzi scheme is I'll end up in jail if I don't participate in social security, but I'll be praised for my excellent due diligence if I avoid a ponzi scheme.
World replies: "DO IT or we won't trade, won't buy your IOU's, won't buy your bonds, your products etc, etc, and you will rot in hell similar to Zimbabwe etc etc. Anything we want we can get from China and YOU owe china big time! In fact China owns your asses!"
There's no way I'll make it through the who 8mins. I already know what a ponzi scheme is and unfortunately I do get the correlation. Applauding your efforts to expose this Peter. I'm just so slammed. And then all this economic bullshit keeps me up at night on the computer and my wife goes to bed early.
Please continue to bombard us though as much as this is killing my sex life having to watch all these videos, lol.
@judutchinski: Killing your sex life? Why don't you and your wife watch these videos together and masturbate and orgasm simultaneously? Jeez, life ain't that difficult. Work your way around problems, dude.
6:40 - As if only the self employed can be smart enough to save their money towards a retirement. It's ironic that such a notion made by a president would not only be patronizing, but insulting to our intelligence as well, when it's our intelligence that can make or break him.
Obama threatened that no ss or va benefits were going to be paid if the debt ceiling wasn't raised. The moment that this were to occur would start the clock ticking.. personally I think it would take about 90 days for this country to come undone. irrevocably.. so the question is do they want us to come on done or not. Are you prepared?
The interviewed said we should take social security private. Ok great we now have a private social security ponzi scheme. Why is privatizing the peoples assets or in this case lack of them a benefit to the citizens of america ? Imagine if BIG OIL in the usa had stayed in the hands of the american people ? But the big joke of trickle down econmics has you all fooled. Enjoy your wal-mart life people
Ron Pauls having a money bomb right now at RonPaul2012 (dot com) It would be nice if Peter Schiff would let people know every once in a while, instead of just paying lip service to him to boost his own ratings!!
"It will not come by waiting for it. It will not be a matter of saying 'here it is' or 'there it is.' Rather, the kingdom of the father is spread out upon the earth, and men do not see it." Thomas 113 g/l
He who controls the money controls the world. We had NWO a long time ago. The system is not evil, though, imo. It's natural. Without private money, and the contracts it creates, we might have no chance at holding the public to order..
Not guilty is dishonour. You must settle it, dispute point for point, or shift the liability. But you don't have to play around in court or fight with cops about traffic tickets. Just 'pay' them according to public policy. All money is 100% tax, and you can get the IRS to refund every payment you've ever made, allegedly. The man is grantor and beneficiary to the birth and/or social insurance trusts.
If you go to court without saying you are a living breathing man with constitutional rights they assume you are not a man and you are property. In fact, if you so much as walk into the court without an affidavit, security agreement, lien or bond stating otherwise, they assume you are the public citizen / vessel. You need to act as a private man to accept the charges and settle them with your signature to balance the account. Anything else is dishonour.
There is no common law money. The people are the value, creditor, and have an obligation to settle public accounts. This is how they lawfully pull you into court for charges they create. You can't say anything about because they're against your public vessel that is in bondage to the corporations (Vatican, UN, City of London, IMF - they're all one entity with an oath to the common law). At common law gold and silver is the only money and it was taken away so we simply sign to create funds. :)
There are two trusts, a birth cert trust, establishing the private law of the land for biblical citizens, natural persons, where we are all equal before and under the law, and a social insurance trust, which is a corporation, an artificial person, subject and slave to the Law Society. You are not free as anyone's citizen, and do not have to represent one if you do not want to. Basically we act as free men and women APPEARING AS the natural person to control the fiction. The paper is not you.
It's a legal duality of persons you MAY choose to access. We are inherently free, through Jesus, as codified in the law of Moses, and the common law, constitution, etc. by the English Church, and no corporation may lawfully harm a human being. Courts act as corporations and can only deal with corporations. You ahve to put the banker on their oath to act as a judge and take control. We are the value. We are the creditors. We can act as the voice of the legal God to claim anything.. :)
The public corporations swear an oath to the common law global government, and the people are the value to the money. We may represent a private natural person, free provided we cause no loss or harm at common law, with constitutional rights, or a public corporation slave to the UN, with no constitutional rights.
by the time all baby boomers retire US gov will need 3.5 trillion each yr just for them alone ,including military and other programs probably 6 trillion in total it is insane , how come paper assets not exiting yet ? They think gold and silver will leverage them ? good luck how does it make sense to earn 1 % (high yeild ,lol) at bank while living expenses triple ? And banks hoarding cash ? lol
it is already lost tremendous amounts of purchasing power
good video peter how about the 19 year old puncks that ssi for nothing other they should get taken of if you did not pay in you should not get any money
People receiving social security are not just retirees. Mentally/physically handicapped, drug addicts. Make up more than half a million people on SS...
I'm cool with you wanting the best care for your disabled child... but why are we paying for it? If you have never payed into a fund how can you have the right to draw benefits?
I can say I'm an alcoholic or on heroin and go on SSI. At this pint I may as well. At least I may get something back...
@6:20 I LOVE IT! "The government said we need social security because americans won't save, then the government took the money and spent every nickle of it."
Solution is simple. Make theft illegal. Legalize charity.
Everytime Peter has someone on his show, he talks over the top of them and doesn't let them answer his questions. I agree with Peter, but it is bad manners to treat his guests like this.
When will we start asking for money back from those who got to benefit from it? Somebody got affirmative action eduction, help with housing, food stamps, free medical care, free rides in school buses. Somebody did a bad job governing their states, schools and counties. All those should pay the society back.
I'll simply say this. I've made lots of money following peter schiffs advice. The guy knows what's going on. You ignore his advice at your own financial peril.
@rockstarr469 Check out mises.org - they have tons of books available online for free
I would start with Economics in One Lesson by Henry Hazlitt (you can find it online for free if you look) - not an Austrian book, but very good and useful nonetheless. Then go for Rothbard's books, What Has the Government Done with Our Money? and The Mystery of Banking. Also, watch MisesMedia channel on YT.
@rockstarr469 visit the Mises academy website. They sell books by Mises, Rothbard, Hayek, and so many other Austrian giants at really, really reasonable prices.
I already knew all this, but hearing it again makes me sad. It's shocking (and a tiny bit encouraging) how there's no pretense that the system works, is worthwhile, or sustainable.
URGENT!! For those watching this who support Ron Paul's 2012 presidential campaign: There's a HUGE fundraiser "MoneyBomb" taking place TODAY so please remember to take the time to donate at.... RonPaul2012(dot)com
But I'm SICK AND TIRED of Libertarians trying to equate the Austrian School with The American Founding Fathers and the Constitution. THAT IS BULLSHIT!
Carl Menger didn't start teaching until 100 years later.
Have you ever crept open writings from Madison or Jefferson?
Considering one is the "father of the constitution", and the other authored it, and considering both would fall very closely inline with the austrian school that followed...it completely baffles me that you can be angered over the obvious link...
@Salvysahagun Who cares what the constitution guarantees, as a piece of paper doesn't have the ability to make good on that guarantee. Unless it's magic of course =)
you know what, i say peter for president. we need ron paul for president but i would vote for peter for president. we are in financial trouble and clearly peter shows the problems and possible solutions.
The problem with letting it "go away" is that people like me, who have paid tens of thousands in social security taxes for it over a lifetime.......are not going to be satisfied with "nothing". There will be blood, if millions of people who paid their whole lives get nothing.
@nikto2000 For the sake of your children, you need to take the high road and just cut your losses. If you're not willing to be the bigger man and just say No to big government, then you deserve your fate.
How are people my age going to foot the bill when there's no way to make money/start a business? Why should I remain a citizen of this country? I've been "proud to be an american" once or twice, but fuck all.
@NinkasiDelight Exactly, it's not happening, especially after all the fees, fines, taxes, permits, and so forth, and don't forget the cost of living driven up by people receiving govt. checks for whatever reason. So even if you have a market for your product or service, that's the easy part.
@NinkasiDelight Haahahaha. I moved out (of the country). But you're always someone's fodder as long as you live under a government. If only there were a place to be free where people don't force you to do things with violence.
The Ponzi Scheme is called the United States Gov. taking all of us for a ride each and ever minute we're alive. This Country has now got a Dictator just like in the third World Countries and nobody will wake up until one day while more than half the nation are Sleeping in their Cars. People are getting wise and instead of going up against these Money Grubbers my solution is this. If each and every human took every Dime out of their Bank tomorrow or by the End of the Week, see what happens next?
@BabylonsKing I am in. Going to take all of it out. I agree we could take down the country in a week. I cannot believe people still bank with criminals like Bank of America.
@BabylonsKing quote: "This Country has now got a Dictator just like in the third World Countries"
"Now"? Just "Now" like in the last 3 years? I hope you don't mean it that way because that would be naively ignorant. Otoh, if you were referring to the powers of the elites and corporations that control and manipulate the response and effects of gov't and it's laws then you would be correct but also more correct to define it as a "Collective Dictatorship of Special Interests". $ corrupts gov't
It was good in when we had our factories and industries still here in the US. First the Insiders sent them overseas and they knew what this would end up doing to the US. Nothing happens by chance, the Insiders had it all planned out how it will end up being done to the people gradually to where we are today with Social Security and Medicare. They want those funds too.
Horace "Woody" Brock wrote a New York Times editorial on this in the early '80s! He said that back then the retirees were getting about five times what they paid in and the future ones would get about a third back. So dividing that through, you get a 15:1 "inter-generational screw ratio."
Reporter: Why was Geithner named Treasury Secretary?
Warden: Because we had Madoff locked up.
(Like that joke you told in that speech of yours, Peter.) ;)
This may be the best thing on youtube.
Another must see is "Government debt and you"
jburdman7 5 months ago
If Social Security is a Ponzi Scheme, then who are the people that get rich at the end who walk away with other people's money?
ANSWER: Peter Schiff and his Wall Street cronies after they divert our tax dollars into their private wall-street gambling accounts.
flanksteak2 5 months ago
@flanksteak2 As opposed to diverting all of the money to DC cronies in the form of T-Bills?
Additionally, if SS was entirely voluntary you could invest the same amount in T-Bills and net a better return. So, you could avoid "Wall Street cronies" by investing in the same paper the SS trust fund does, but without the bureaucratic overhead. Or, you would have the freedom to invest with someone who will put that capital to productive use(and reap the benefits of that). Liberty, what a concept.
Ragnarokgn 5 months ago
@Ragnarokgn I see. So Peter and Friends didn't need a bailout or the keys to the treasury to keep themselves and their investors from being left with nothing.
They got the keys to our neighborhood banks after Glass Steagall was repealed, now we should give them more with which to create more bubbles and bailouts and dismantle anything that benefits the average citizen like SS.
Ah yes, all that investing that Wall Street in the United States by selling Government and Mortgage debt.
flanksteak2 5 months ago
@Ragnarokgn "T-bills"
SS is simple. Some of your paycheck is skimmed in order to help old people make ends meet.
Voted in by congress and approved by the American public. The very definition of liberty and democracy.
Bailout of Peter and Friends crony capitalism. Dismantling SS so Peter and Friends can walk away with even more of the publics cash. Crony capitalism and highly destructive to the social fabric that makes up America.
Baby Boomer fail.
flanksteak2 5 months ago
@flanksteak2 SS isn't welfare, or that isn't how it was sold(or voter approved). It is a retirement fund ran by the government where people pay into the system and only those people withdraw from it. It is now a welfare system where one generation is paying for the retirement of another. The old need it because they lived their life with the expectation of it, but if the young do the same they will have nothing.
PS: Democracy is not Liberty. 2 wolves and a lamb vote on the dinner menu.
Ragnarokgn 5 months ago
@Ragnarokgn "One generation is paying for the retirement of another"
And on and on it will go. What do you think happens when the money is "invested" in a company? The company must pay profits that could otherwise go into workers pockets back to shareholders so they can provide a return to themselves and the investors.
SS takes the Goldman Sachs and Peter Schiffs out of the equation so that unnecessary parties are not able to skim the take.
flanksteak2 5 months ago
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@Ragnarokgn "One generation is paying for the retirement of another"
And on and on it will go. What do you think happens when the money is "invested" in a company? The company must pay profits that could otherwise go into workers pockets back to shareholders so they can provide a return to themselves and the investors.
SS takes the Goldman Sachs and Peter Schiffs out of the equation so that unnecessary parties are not able to skim the take.
flanksteak2 5 months ago
@Ragnarokgn "Welfare"
Schiff and friends would have lost everything for everybody without a bailout.
I notice you primary focus is attacking American workers and not focusing on the massive defrauding the U.S. suffered at the hands of the banks you want to give our retirement money to.
Afterall, the anti SS agenda is really about these thieves even more rich than they already are and attacking and taking away from the working people you hate so much.
flanksteak2 5 months ago
@flanksteak2 I want people to have the freedom to do what they will with their own property. You want the Federal Government to force a worker against his will to invest in an abysmal retirement scheme.
A 25 year old starting now will only receive 80 cents on each dollar he puts in, so forcing a person into said arrangement sounds pretty "anti-worker" to me.(CBO low ball)
Schiff & friends/wallstreet arguments are a red-herring, so stop mindlessly drooling it.
Ragnarokgn 5 months ago
@Ragnarokgn Only if you don't upgrade the system. A minor increase in the payroll tax would fix the system.
They aren't Red Herrings. That is the alternative. The people that are calling SS a ponzi scheme are the ones that still want to keep the payroll tax in place but take that money and dole it out to private wall-street managed accounts.
You know that right?
You will still be taxed but your tax dollars will go to Wall Street gamblers like schiff.
flanksteak2 5 months ago
@Ragnarokgn The freedom argument is the Red-Herring. The people, through their elected officials decided that SS was a good idea and have supported it for over 70 years.
The same failed generation that calls SS a ponzi scheme is the same failed generation that deregulated schiff and buddies and gave them full access to the U.S. treasury to hedge their gambling bets.
Remember Gramm/Leech/Bliley in 2000 and Goldman Sachs converting to a bank holding corp in 2008?
Think a little.
flanksteak2 5 months ago
@flanksteak2 I'd say your argument is a non-sequitor. Applying the freedom of people 70+yrs ago to vote for FDR or Hoover (that is, freedom to vote for 1of2) to today's youngsters not born then is obviously a poor application. Wouldn't you say that real freedom is to allow people to opt out (esp. since it's broke), keep what they earn, plan (or not) for retirement..?
Please tell me you're not blaming GLB or repealing Glass-Steagall for the financial crisis... even Clinton doesn't buy this.
TheFreezer872 5 months ago
@TheFreezer872 Yes of course.
Opt out, put your money into the unregulated banking system which will soon require another trillion dollar bailout.
6 to 1 half a dozen to other, except with SS Schiff and his millionaire cokehead friends and their merry band of anti-united states foreign collaborators don't get to take a portion of the pie and run.
flanksteak2 5 months ago
@flanksteak2 For one, if I put my money in banks and got a free bailout, I'd be in good shape! But it would be pretty hard to retire on 1% interest.
Basically, you think it's impossible to generate a retirement fund w/o the gov't? Who says I couldn't get a better ROI than SS can? If I fuck up, that's on me and I'll have to deal w/o any gov't safety net. Many people rely more on pensions, 401Ks..anyway and their SS gets slashed in half, so your argument is already invalid for those.
TheFreezer872 5 months ago
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@TheFreezer872 "Basically, you think it's impossible to generate a retirement fund w/o the gov't?"
Depends on how much money you make. It's a wash but it provides a Guarantee that when you get old, that you'll be able to make ends no matter how many financial crashes Schiff and friends cause.
What's the difference between forcing a company to pay profit to shareholders to go into my 401k VS simply taxing working people?
Both cause an income reduction.
flanksteak2 5 months ago
@TheFreezer872 "Please tell me you're not blaming GLB or repealing Glass-Steagall for the financial crisis... even Clinton doesn't buy this."
And there are people who also think the Wars in the Middle-East do not hurt us financially. There is no evidence to support their opinion just like there is no evidence to support your opinion. You assume whichever point of view you feel will benefit your pocketbook the most.
GLB is the direct cause of the 2008 financial "crisis".
flanksteak2 5 months ago
@flanksteak2 There are also people who believe in Scientology w/o evidence... what's your point?
Staying on topic, can you elaborate on how GLB directly caused it? Was it b/c banks which merged could now underwrite and/or hold derivatives like MBS, CDOs..?
But banks could already do that, not just IBs..plus not many merged b/c of different PP&E needs and customer base, much like why banks didn't want to merge w/ insurance co's- see why Travelers didn't work w/ CITI.
So what else?
TheFreezer872 5 months ago
@TheFreezer872 Could AIG have insured Mortgage debt for Goldman Sachs without GLB?
flanksteak2 5 months ago
@flanksteak2 Sure b/c it wasn't insurance in the classical sense of say life ins. but CDS's- unaffected from GLB. If anything, the CFMAct put some minor anti-fraud regs on it from otherwise being unregulated due to its unique nature- not quite ins., not quite a security. I won't pretend to know all the complexities, but I know they aren't considered ins. b/c of constant mark to market collateral reqts- something GS used to extort the shit outta AIG.
I think I'd be for regs on the seller of
TheFreezer872 5 months ago
@flanksteak2 CDSwaps (cap reqts or what not) but the buyers shouldn't be scapegoated even if they were naked or insuring more than what they owned. Blame can be distributed among AIGFP's risk mgmt/poor diversification, ratings agencies, underwriter insider info, homeowners (many of these problems due to gov't regs in the 1st place I might add) but not CDS's.
Basically, it's like blaming puts for a shitty stock plummeting. Measures like these to hedge risk actually provide balance.
TheFreezer872 5 months ago
@TheFreezer872 The problem was allowing insurance companies, neighborhood banks and wall-street to interact.
Without GLB, these interactions would never have occurred and there never would have been a push nor would the capital have been available to create the housing bubble.
flanksteak2 5 months ago
@flanksteak2 No, believe me you're putting way too much emphasis on GLB. AIG itself was composed of insurance and financial products/services back in the 70's, well before GLB. Banks have always managed risks via swaps. Derivatives have always been around.
Why don't you consider the ratings agency oligarchy- made possible by gov't regulations- as to why they rated MBS as AAA? Or why FMAE/FMAC pushed for low-income housing (via capital and policy)? Or how about the home buyers themselves?
TheFreezer872 5 months ago
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Ron Paul 2012
He has never voted to raise taxes.
He has never voted for an unbalanced budget.
He has never voted for a federal restriction on gun ownership.
He has never voted to raise congressional pay.
He has never voted to increase the power of the executive branch.
He voted against the Patriot Act.
He voted against the Iraq War.
He returns a portion of his annual congressional office budget to the U.S. Treasury every year.
1XMarksSpot 7 months ago
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1XMarksSpot 7 months ago
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We are not a democracy dammit! "I pledge allegiance to the flag of the United States of America, and to the REPUBLIC for which it stands . . . " It says in the Constitution "republic form of government."
Tasadaru 7 months ago
LETS DO WHAT RON PAUL SAYS AND BE ABLE TO OPT OUT!!! SAME WITH MEDICARE!
drummer4life4u 7 months ago
Loved this video clip! Awesome!!!
irvinehouse 7 months ago
People contributed a percentage of their paychecks every week their entire life in exchange for the promise of that social security check.
Who the fuck are any of you to decide who does and does not need something, or who is or is not entitled to receive the benefits of a forced arrangement whose terms they unfailingly adhered to?
No one "needs" shit besides food, water, clothing, and shelter. Does that mean anyone with more than that should be forced to forfeit what they have earned?
MiHiVidz 7 months ago
@MiHiVidz SS needs to be reformed now. If everyone can put aside their partisanship for a few minutes, a solution can be found.
Bi-partisanship commissions have proposed keeping SS the same for those nearing retirement, but slowly raising the retirement age for those younger workers.
Means test Medicare so those who are wealthy help support the less well off.
ttube438 6 months ago
@ttube438 It's not "partisanship" to defend Social Security. It's protecting the seniors and the disabled from being condemned to a brutal existence of starving in the streets!
What you may call "partisanship", I call "humanity".
MiHiVidz 6 months ago
@MiHiVidz . The only way seniors will be starving in the streets will be if obamacare is allowed to continue. obama looted $500,000,000,000 from medicare (seniors) to fund obamacare. Liberal socialist policies are to blame for the recession we are in now. High taxes on small businesses and extreme regulations = recession. The only thing to do now is cut taxes for small businesses and repeal obamacare, sarbanes / ox & frank / dodd.
ttube438 6 months ago
@ttube438 Oh shut the fuck up, because you obviously do not know what it is like for people who DEPEND on Social Security! I'd like to see you try to live on the pitiful amount they get each month.
And by the way, that crap you puke about "small businesses"? Mega corporations like Exxon (which made BILLIONS in profits each year) are listed as a "small business" with the IRS. So when you whine about "small businesses", you're a stooge defending the corporate elite.
MiHiVidz 6 months ago
@MiHiVidz Why are you so angry? You don't engage anyone in thoughtful debate. Once you feel you are losing the argument you start spewing foulmouthed epitaphs.
No one with an ounce of intelligence thinks Exxon is a small biz. They're not listed that way with the IRS. They are a sub-chapter C corporation with gross revenues of $350 Billion. Maybe you don't know this but about 75% of private sector jobs come from small biz, those with 500 or fewer employees and less than $20M in revenues.
ttube438 6 months ago
@ttube438 You bet your ass I am angry! I know of several people who NEED Social Security in order to survive, and it totally disgusts me how people like you act like they are leeches or cheats gaming the system, or that they are plotting to bring down the country simply because they want a roof over their head and food to eat.
These people will DIE if you take their Social Security away from them. You may as well be cuting off their oxygen supply. Fuck each one of you who try to make that happen
MiHiVidz 6 months ago
@MiHiVidz You don't have any idea what you are talking about. You are just full of hate. One last question for you as I will not waste any more time on someone so Hateful and closed minded.
Why do you hate America so much? Now the question is rhetorical as I couldn't care less for anything you might have to say. I do have one final piece of advise, or therapy if you will. Put down your laptop, go out side and shout as loud as you can, I LOVE AMERICA!, I LOVE AMERICA!, I LOVE AMERICA!
ttube438 6 months ago
@ttube438 Oh, please spare me your smugness & faux intellectualism. I know very much what I am talking about. Unlike you, I encounter these people every day a&know what they are suffering through, & what will happen if they lose their Soc. Sec.
You know nothing about the plight of people who need Social Security in order to literally survive.
And I don't hate America. Just assholes like you who want to dismantle every decent thing that has been done in the past 100 years in this country.
MiHiVidz 6 months ago
talk about a ponzi scheme...just look at the public pension system.
poor poor tax payer gets screwed again
aceyorba 7 months ago
Working and Working but getting Nowhere.
Big Banks controll our money, Big Oil our world energy resources, Big Media our information, Big Pharma our health,and other corporate predators exploiting our lives for profit. Freemen we call ourselves and live in the richest country in the world, but they have looted and enslaved us. After a century of presperity we Americans must go to the Emerging countries and say, may we borrow a few of dollars to feed ourselves . What is the matter with us?
spat846 7 months ago 6
We should end the Ponzi Scheme by saying that everybody who is 55 and above on January 2012 will get a pension, and those who are under 55 won't.
SuperSpidey25 7 months ago
Ruse-a-vet Roosevelt!!!
azyxwvuts 7 months ago
They have been robbing me since I was 14 years old and I am 56. I don't count on a nickel. Stop the theft now. Thank you Peter Schiff for trying to educate the masses.
gringott12 7 months ago
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spat846 7 months ago
@spat846 Interesting quote, may i ask, where this is to be found?
joggler66 7 months ago
@joggler66 :: Imperialism, Crisis and Class Struggle: The Enduring Verities and ... By Henry Veltmeyer
It is a very popular quote in political science . Also many references online.
"Who controls the food supply controls the people; who controls the energy can control whole continents; who controls money can control the world."
spat846 7 months ago
@joepeeler34 : Yes we need new priorities, throwing the poor under the bus should not be 1. Not if all the gains of American prosperity have been concentrated at the top .Govt has never been and ostacle to the wealthy , they are always colluding as long as the people have just enough to eat. Now high unemployment and a crash in sight ,the govt has to turn on the printing press. But the wealthy are more concerned about how the gov’t is devaluing their dollar investments . They dont care you.
spat846 7 months ago
@vinnykster:You sound like a sheep and need to start thinking for yourself. If you are not heavily invested in securities or deal in gold and precious metals, I suggest you find another past time. Investment brokers like him caused the global meltdown .They have benefited from economic changes over the past 30 at the expense of working Americans. Now u want to listen to him tell you bout Jobs and SSI? They worry more about where to put their money in case Bernanke turns on the printing press.
spat846 7 months ago
So, should we allow monopolies because they work, or realize that they are illegal for a reason??
950horsepower 7 months ago
In an Era when ideas of equality and freedom of the individual have penetrated the various classes. socioeconomic safety nets, are transfer programs seeking to prevent the poor and economic loosers from shocks that trigger uprisings. Remember ,on the eve of the french revolution, France was effectively bankrupt too. We need the programms in order to save US from chaos. They emptied Americans and are now abandoning the US to do the trick to the Emering markets. The govt has to intervene!!
spat846 7 months ago
@spat846 It's the govt. programs that caused the "shocks" to begin with for crying out loud. The country was a lot more stable when we didn't have a fed. reserve system, paper money, and massive welfare state, etc.
The safety net used to composed of mutual-aid societies, private charities, churches, neighbors, family, savings, etc. If a large boulder is removed from the middle of the river, will not the water redirect? The govt. programs are the large boulder, and the river is society.
joepeeler34 7 months ago
Socialism always into Tyranny and is a failure everywhere it goes but people never learn.
sexydarin1 7 months ago
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GOD SAID - CURSE ISRAEL AND YOU WILL BE CURSED, BLESS ISRAEL AND YOU WILL BE BLESSED!!! IT IS WRITTEN THAT IN THE LAST DAYS ISRAEL WILL BE DIVIDED.. AND THAT WHOEVER PARTICIPATES IN THAT WILL BE CURSED! HELL IS REAL! DON'T PARTICIPATE YOU WILL BE CONDEMNED. type in GLENN HIGHLIGHTS @ YOUTUBE.
TheENTERRAPTURE17 7 months ago
The country is in a very unhappy state because the few skilled in aquiring wealth monopolize it, while the mass donot know how to keep any. Workers are without Jobs,merchants have no customers, people dont have money to feed themselves.The money left their pockets and slipped into the hands of the few skilled in aquiring wealth.The choices now is either the wealth holders assist expanding prosperity for the country or a reactionary politics that turns the various classes against each other.
spat846 7 months ago
US Winner take all Casino Economy with the Money Experts accumulating all the money . After years of prosperity, Americans seem unable to support themselves cause all the money involved has found its way into the pocession of a few rich and those like Mr. schiff with expetise in aquiring wealth.The rich must assist the Govt to expand the circle of prosperity (ie SSI) and continue flow of money .Put your Ideoogy aside, the dice is always loaded against the employee .
spat846 7 months ago
@spat846 BAAAAA BAAAAA BAAAA <<< THAT'S what you sound like pal! A fucking sheep! Here's a piece of advice dude... Listen to Peter Schiff! His knowledge of this issue is far superior to yours ... obviously! lol!
vinnykster 7 months ago
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spat846 7 months ago
My guy Peter on point as usual.
IcebergEntOFFICIAL 7 months ago
OBAMA LIES
fluff125 7 months ago
@fluff125 And you don't?
IWashMyOwnBrain 7 months ago
Silver is up 127.9% from this date last year and gold is up 35.5% from this date last year.
drac060 7 months ago
@drac060 So it's time to sell.
IWashMyOwnBrain 7 months ago
@IWashMyOwnBrain Not unless you need some cash. I'll keep stacking.
drac060 7 months ago
Harry Reid and 5 other Democrats disliked this video.
xtreme1002003 7 months ago
@peter, what does the end look like becuase it clearly looks like America is not going to do the right thing. The govt. is never going to stop spending and big business is to fucking greedy to give a damn. At the end of the day rich ppl will take their wealth and run and the rest of the poor suckers will be left holding an empty bag. Please tell me what America looks like after her FALL.
fourthdynasty98 7 months ago
"The American Republic will endure until the day Congress discovers that it can bribe the public with the public's money."
- Alexis de Tocqueville
marneedear 7 months ago
I like how Peter pronounces Franklin Roosevelt's name. It sounds like Ruse-uh-velt. Ruse being the operative syllable.
joepeeler34 7 months ago
This is how I changed. Was introduced to Ron Paul through a best friend. Worked for the Government + was a Police Officer + become concerned about constant domestic terrorism bulletins from DHS. Found Peter Schiff. Found the Austrian School of Economics. Then quit my job, left the US(S)A, took my Dollars out of the bank + diversified them into silver, gold, francs, euros + land, and now I try to wake everyone up to the threat that is the Federal Reserve as ''Federal'' as Federal Express
msungs 7 months ago
@msungs Any good libertarian countries to recommend moving to / investing in / working in?
CheekyMonkey888 7 months ago
@CheekyMonkey888 Try China they love us so much they copy everything we do.
IWashMyOwnBrain 7 months ago
@IWashMyOwnBrain They save and invest in capital equipment while we don't. They certainly don't emulate everything that we do.
joepeeler34 7 months ago
Why is Peter Schiff always pretending to interview people when he already has all the answers himself, and does not want to listen to the people he is interviewing?
frifilmfotografen 7 months ago
@frifilmfotografen He does interview people he agrees with. Check out interviews with Ron Paul, Rand Paul, Thomas Sowell, Thomas Woods, etc. It's when some crackpot socialist comes on that he constantly interupts.
joepeeler34 7 months ago
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@frifilmfotografen Because his ego will not allow him to hear other points of view.
IWashMyOwnBrain 7 months ago
Politics and rhetorics aside, just technically and mathematically speaking, neither ponzi scheme or social security (the way it is) is ever going to work. If you have one, ask an insurance actuary friend of yours (if you have one. - I used to work inside an insurance company and know some insiders technical information), and ask him or her for an honest opinionl. The math of social security and balanced budget the way it is are never going to work; a reform is mandatory! IMHO
firstleong 7 months ago
Any professional actuaries please? Please join the discussion and offer your expert opinion and tell us if people pay in $10 can the system afford to pay them benefit of $15 ? Without healthy return, without borrowing from future generations, and so forth! The bottom line, if you do not reform the current social security (and Medicare), will it ever work for us?
firstleong 7 months ago
The only difference between social security and a ponzi scheme is I'll end up in jail if I don't participate in social security, but I'll be praised for my excellent due diligence if I avoid a ponzi scheme.
TheTiffanator1 7 months ago 26
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Ron Paul's plan will balance the budget in 3 years without raising taxes!
Social programs remain untouched as the BIG problems are resolved.
Government employees will be phased out as they quit/retire or moved to other jobs.
Learn more at /watch?v=IQAHziV3HoM
vechorik 4 months ago
Time to pay the piper America! or at least 'start paying'!
dobberdoss 7 months ago
@dobberdoss Americas reply....Oh yeah and who is gonna make me?
IWashMyOwnBrain 7 months ago
@IWashMyOwnBrain ,
World replies: "DO IT or we won't trade, won't buy your IOU's, won't buy your bonds, your products etc, etc, and you will rot in hell similar to Zimbabwe etc etc. Anything we want we can get from China and YOU owe china big time! In fact China owns your asses!"
dobberdoss 7 months ago
There's no way I'll make it through the who 8mins. I already know what a ponzi scheme is and unfortunately I do get the correlation. Applauding your efforts to expose this Peter. I'm just so slammed. And then all this economic bullshit keeps me up at night on the computer and my wife goes to bed early.
Please continue to bombard us though as much as this is killing my sex life having to watch all these videos, lol.
judutchinski 7 months ago 7
@judutchinski: Killing your sex life? Why don't you and your wife watch these videos together and masturbate and orgasm simultaneously? Jeez, life ain't that difficult. Work your way around problems, dude.
WOLF333999 7 months ago
6:40 - As if only the self employed can be smart enough to save their money towards a retirement. It's ironic that such a notion made by a president would not only be patronizing, but insulting to our intelligence as well, when it's our intelligence that can make or break him.
IWubYooz 7 months ago
@IWubYooz And I guess I should add what's even more ironic: It worked.
IWubYooz 7 months ago
Well done Peter!
KURDYPEIN 7 months ago
I called Peter and gave him the solution, i have one but it isnt politically correct
krillin876 7 months ago
Help Ron Paul by donating money to his money bomb.
Ron Paul in 2012!
manvscode 7 months ago 2
Obama threatened that no ss or va benefits were going to be paid if the debt ceiling wasn't raised. The moment that this were to occur would start the clock ticking.. personally I think it would take about 90 days for this country to come undone. irrevocably.. so the question is do they want us to come on done or not. Are you prepared?
nprbiz 7 months ago
@nprbiz It would take way less than 90 days for Obama to be out of office if that happened.
IWashMyOwnBrain 7 months ago
@IWashMyOwnBrain agreed
nprbiz 7 months ago
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Vote for Peace, Prosperity and Liberty, vote Ron Paul 2012!!
1776Rosco 7 months ago
The interviewed said we should take social security private. Ok great we now have a private social security ponzi scheme. Why is privatizing the peoples assets or in this case lack of them a benefit to the citizens of america ? Imagine if BIG OIL in the usa had stayed in the hands of the american people ? But the big joke of trickle down econmics has you all fooled. Enjoy your wal-mart life people
c00per69 7 months ago
Ron Pauls having a money bomb right now at RonPaul2012 (dot com) It would be nice if Peter Schiff would let people know every once in a while, instead of just paying lip service to him to boost his own ratings!!
AvidLifestyle 7 months ago
If you let your guests speak I might listen to this show.
howitzer24 7 months ago
@howitzer24 It's a rude show for rude people.
IWashMyOwnBrain 7 months ago
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howitzer24 7 months ago
"It will not come by waiting for it. It will not be a matter of saying 'here it is' or 'there it is.' Rather, the kingdom of the father is spread out upon the earth, and men do not see it." Thomas 113 g/l
dhjw 7 months ago
He who controls the money controls the world. We had NWO a long time ago. The system is not evil, though, imo. It's natural. Without private money, and the contracts it creates, we might have no chance at holding the public to order..
dhjw 7 months ago
@dhjw you mean in order as in whiter older richer dominates
bodyheals 7 months ago
Not guilty is dishonour. You must settle it, dispute point for point, or shift the liability. But you don't have to play around in court or fight with cops about traffic tickets. Just 'pay' them according to public policy. All money is 100% tax, and you can get the IRS to refund every payment you've ever made, allegedly. The man is grantor and beneficiary to the birth and/or social insurance trusts.
dhjw 7 months ago
If you go to court without saying you are a living breathing man with constitutional rights they assume you are not a man and you are property. In fact, if you so much as walk into the court without an affidavit, security agreement, lien or bond stating otherwise, they assume you are the public citizen / vessel. You need to act as a private man to accept the charges and settle them with your signature to balance the account. Anything else is dishonour.
dhjw 7 months ago
There is no common law money. The people are the value, creditor, and have an obligation to settle public accounts. This is how they lawfully pull you into court for charges they create. You can't say anything about because they're against your public vessel that is in bondage to the corporations (Vatican, UN, City of London, IMF - they're all one entity with an oath to the common law). At common law gold and silver is the only money and it was taken away so we simply sign to create funds. :)
dhjw 7 months ago
There are two trusts, a birth cert trust, establishing the private law of the land for biblical citizens, natural persons, where we are all equal before and under the law, and a social insurance trust, which is a corporation, an artificial person, subject and slave to the Law Society. You are not free as anyone's citizen, and do not have to represent one if you do not want to. Basically we act as free men and women APPEARING AS the natural person to control the fiction. The paper is not you.
dhjw 7 months ago
It's a legal duality of persons you MAY choose to access. We are inherently free, through Jesus, as codified in the law of Moses, and the common law, constitution, etc. by the English Church, and no corporation may lawfully harm a human being. Courts act as corporations and can only deal with corporations. You ahve to put the banker on their oath to act as a judge and take control. We are the value. We are the creditors. We can act as the voice of the legal God to claim anything.. :)
dhjw 7 months ago
The public corporations swear an oath to the common law global government, and the people are the value to the money. We may represent a private natural person, free provided we cause no loss or harm at common law, with constitutional rights, or a public corporation slave to the UN, with no constitutional rights.
dhjw 7 months ago
That was one of the better interviews Peter's had. It's hard for him to let others speak, but they did on this one! Nice work!
davejoe75 7 months ago
by the time all baby boomers retire US gov will need 3.5 trillion each yr just for them alone ,including military and other programs probably 6 trillion in total it is insane , how come paper assets not exiting yet ? They think gold and silver will leverage them ? good luck how does it make sense to earn 1 % (high yeild ,lol) at bank while living expenses triple ? And banks hoarding cash ? lol
it is already lost tremendous amounts of purchasing power
VivaMydick 7 months ago
@407buddy either the banks or to the war to continue financing american wars against 5 or 4 other countries at the same time.
37712 7 months ago
It's going to get real interesting, when there finally is a budget agreement. Bottom line...we're all screwed.
endtimesfuntimes 7 months ago
good video peter how about the 19 year old puncks that ssi for nothing other they should get taken of if you did not pay in you should not get any money
MrJohn196741 7 months ago
Peter is so damn blunt! lol these guys so shocked by his bluntness.
ch1kusoo 7 months ago
People receiving social security are not just retirees. Mentally/physically handicapped, drug addicts. Make up more than half a million people on SS...
I'm cool with you wanting the best care for your disabled child... but why are we paying for it? If you have never payed into a fund how can you have the right to draw benefits?
I can say I'm an alcoholic or on heroin and go on SSI. At this pint I may as well. At least I may get something back...
deadman12078 7 months ago
@6:20 I LOVE IT! "The government said we need social security because americans won't save, then the government took the money and spent every nickle of it."
Solution is simple. Make theft illegal. Legalize charity.
humanhiveanomaly 7 months ago
"Let's illegalize ponzi schemes and do it ourself!"
-Yours truly, American Government.
RKAddict101 7 months ago 2
Everytime Peter has someone on his show, he talks over the top of them and doesn't let them answer his questions. I agree with Peter, but it is bad manners to treat his guests like this.
bn12595 7 months ago
Old people dont give a fuck.. they'll just vote us off to war. in the words of jessie venture they are nothing but "chicken-hawks"!
deshaebeasley 7 months ago 4
When will we start asking for money back from those who got to benefit from it? Somebody got affirmative action eduction, help with housing, food stamps, free medical care, free rides in school buses. Somebody did a bad job governing their states, schools and counties. All those should pay the society back.
BlueSkies360 7 months ago 2
How do we stop the government from stealing retirement money from the young people..
BlueSkies360 7 months ago
Great video. This should go viral
Daniel44125 7 months ago
Another blog on silver and gold please peter. Your the best
juicejon1 7 months ago
When people say we're a democracy, I cringe.
Kitswain59 7 months ago
@Kitswain59 Its a delsey
acts131 7 months ago
I'll simply say this. I've made lots of money following peter schiffs advice. The guy knows what's going on. You ignore his advice at your own financial peril.
xtop23 7 months ago 2
P-E-T-E-R S-C-H-I-F-F!
Bust'em up!
KillerBeeKiller 7 months ago
any recommendations on books or schools to learn austrian economics?
rockstarr469 7 months ago
@rockstarr469 FA hayek's books, r. paul. freedman misses... bunch of university of chicago econs ect....
sebucwerd 7 months ago
@rockstarr469 Check out mises.org - they have tons of books available online for free
I would start with Economics in One Lesson by Henry Hazlitt (you can find it online for free if you look) - not an Austrian book, but very good and useful nonetheless. Then go for Rothbard's books, What Has the Government Done with Our Money? and The Mystery of Banking. Also, watch MisesMedia channel on YT.
TheLegalImmigrant05 7 months ago 3
@rockstarr469 visit the Mises academy website. They sell books by Mises, Rothbard, Hayek, and so many other Austrian giants at really, really reasonable prices.
obtree 7 months ago
I already knew all this, but hearing it again makes me sad. It's shocking (and a tiny bit encouraging) how there's no pretense that the system works, is worthwhile, or sustainable.
NotThat3 7 months ago
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RileyE104 7 months ago
good insight
anthropomorphosizeme 7 months ago
Austrian economics adds clarity to every discussion on these matters. Thank you Peter Schiff.
1kings1918 7 months ago
@1kings1918
Austrian Economics has good principles.
But I'm SICK AND TIRED of Libertarians trying to equate the Austrian School with The American Founding Fathers and the Constitution. THAT IS BULLSHIT!
Carl Menger didn't start teaching until 100 years later.
Salvysahagun 7 months ago
@Salvysahagun
Are you kidding?
Have you ever crept open writings from Madison or Jefferson?
Considering one is the "father of the constitution", and the other authored it, and considering both would fall very closely inline with the austrian school that followed...it completely baffles me that you can be angered over the obvious link...
SeppLainer 7 months ago
@SeppLainer
Austrians want everything privatized.
The constitution garuntees the Governments rights to establish Post Roads, Offices, and provide for the General Welfare.
Alexander Hamiltons, American School of Economics platform is what brought us the Gilded Age.
Protectionism built America.
and the only other strong period of Economic Golden Age was when we adhired to Keynsian Policies.
Though it did collapse due to the excessive taxation on indivisuals
Salvysahagun 7 months ago
@Salvysahagun Who cares what the constitution guarantees, as a piece of paper doesn't have the ability to make good on that guarantee. Unless it's magic of course =)
Helionaeic 7 months ago
@Salvysahagun
Oh, ok. Now I see where you are coming from. I'm going to go away now. Have a good day.
SeppLainer 7 months ago
you know what, i say peter for president. we need ron paul for president but i would vote for peter for president. we are in financial trouble and clearly peter shows the problems and possible solutions.
but we do need to end the fed peter.
rawer77 7 months ago
The problem with letting it "go away" is that people like me, who have paid tens of thousands in social security taxes for it over a lifetime.......are not going to be satisfied with "nothing". There will be blood, if millions of people who paid their whole lives get nothing.
nikto2000 7 months ago
@nikto2000 For the sake of your children, you need to take the high road and just cut your losses. If you're not willing to be the bigger man and just say No to big government, then you deserve your fate.
drewmandan 7 months ago
Great video, very interesting.
Tracywithafacey 7 months ago
How are people my age going to foot the bill when there's no way to make money/start a business? Why should I remain a citizen of this country? I've been "proud to be an american" once or twice, but fuck all.
NinkasiDelight 7 months ago 34
@NinkasiDelight
John M Keynes said:"When the facts change, I change my mind."
Waterjaijai 7 months ago
Comment removed
uwmbigb 7 months ago
@NinkasiDelight Exactly, it's not happening, especially after all the fees, fines, taxes, permits, and so forth, and don't forget the cost of living driven up by people receiving govt. checks for whatever reason. So even if you have a market for your product or service, that's the easy part.
ferodynamics 7 months ago
@NinkasiDelight Haahahaha. I moved out (of the country). But you're always someone's fodder as long as you live under a government. If only there were a place to be free where people don't force you to do things with violence.
gradiu3rox 7 months ago
The Ponzi Scheme is called the United States Gov. taking all of us for a ride each and ever minute we're alive. This Country has now got a Dictator just like in the third World Countries and nobody will wake up until one day while more than half the nation are Sleeping in their Cars. People are getting wise and instead of going up against these Money Grubbers my solution is this. If each and every human took every Dime out of their Bank tomorrow or by the End of the Week, see what happens next?
BabylonsKing 7 months ago 32
@BabylonsKing that would not work, most are in debt, and ben would just print more money.
bruno188home 7 months ago
@bruno188home Amen to that Brother....
BabylonsKing 7 months ago
@BabylonsKing I am in. Going to take all of it out. I agree we could take down the country in a week. I cannot believe people still bank with criminals like Bank of America.
annemb100 7 months ago
@BabylonsKing quote: "This Country has now got a Dictator just like in the third World Countries"
"Now"? Just "Now" like in the last 3 years? I hope you don't mean it that way because that would be naively ignorant. Otoh, if you were referring to the powers of the elites and corporations that control and manipulate the response and effects of gov't and it's laws then you would be correct but also more correct to define it as a "Collective Dictatorship of Special Interests". $ corrupts gov't
Teyec00n 7 months ago
It was good in when we had our factories and industries still here in the US. First the Insiders sent them overseas and they knew what this would end up doing to the US. Nothing happens by chance, the Insiders had it all planned out how it will end up being done to the people gradually to where we are today with Social Security and Medicare. They want those funds too.
starlight1946 7 months ago
Horace "Woody" Brock wrote a New York Times editorial on this in the early '80s! He said that back then the retirees were getting about five times what they paid in and the future ones would get about a third back. So dividing that through, you get a 15:1 "inter-generational screw ratio."
Reporter: Why was Geithner named Treasury Secretary?
Warden: Because we had Madoff locked up.
(Like that joke you told in that speech of yours, Peter.) ;)
DexterHaven49 7 months ago
Brilliant stuff!
KDakota630 7 months ago
good work old mate
eaggzz 7 months ago