Ron Paul CAN FIX the economy for years to come. You can read about it on my page. I had no idea until I read this. I'm a college student and usually I mind my own business with this stuff, but just trust me you gatta read this. I only discovered this letter yesterday, and I became so moved, I decided I had to do something. So please come visit my page; read all about it and learn what YOU can do!
The Rothschilds are enslaving the People of the US via the fraudulent criminal conspiracy known as the illegal, unConstitutional Federal Reserve. The entire US government is now simply a puppet of the Rothschild banking dynasty.
“End the Fed”
Every political candidate must be evaluated based upon this single all telling crucial issue. You are either with the People or you are with the Rothschilds and their agents, the international bankers.
why does anyone listen to this moronic beaknosed filthy jew. Fuck this parasite. Stop allowing yourself to be let around by these evil fucking jew scum
they aren't overcharging there is no such thing as overcharging in a free market also their prices and fees escpecially wconsidering schiff's favorite imbecile moments regarding nuismatic coisn which if you bother to check the books and etc. are the market prices or in fact under the market prices.
@deltapunk21 in a free market there is typically ONLY such charging as OVER-charging and it is wrong, it is fraud and it must cease to exist, be punished with full seizure of all assets AND jail time.
Free markets are fraud markets, rigged markets, it's a mathematical certainty.
Would you be able to explain your strong currency belief from the position of exporters and importers and how it overall benefits a country, especially if that country relys on exports being a very large part of its income.
Theres always a moral argument against service vs productive, socialist vs capitalist, and thats fine, but underlying that is a financial argument that cant be shaken. For example, even if you're morally for it, socialist ideas are impossible in a suffering economy.
In just the same way, of course we can have services, but only if our economy is strong and sound enough to handle it, because services dont make our economy strong, they're simply bonuses.
@treysparker depends on the nature of the suffering. If the nature of the suffering is that there's people unable to work but who CAN be made able, be it the problem is no housing or not enough food "for now" but it can be fixed, then socialism can fix that. If there's too many people, not enough places to work, not enough food *no matter how it's shared* then socialism can't fix that. Maybe emigration can.
Socialism stops Canada's economy from suffering, for example.
@treysparker for example: all the provinces and territories are proposing combining their drug purchases. This is tax-dollars put to work. If we all paid our own we'd pay a lot as individuals; if each province pays its own they save some money but if they all pay together ALL AT ONCE for a LARGE bulk purchase they can save an additional 10 BILLION DOLLARS. I know we hear 'trillion' a lot these days but not FROM Canadian budgets. Saving 10 b is good coin, good socialism.
Great video, great points, you can't disprove facts, we do have a trade deficit, but hopefully we can run that deficit longer than you predict. Which is probably going to happen.
What some people seem to be missing... Our current account deficit means wealth is draining out our economy. We are becoming poorer and more indebted over time. Think of America like a small business, negative cash flow. If the USA was a stock, it would be worthless. We are unprofitable. Since we can print money and are the current global reserve currency are #1 export is inflation/devaluation of the Dollar.
Our standard of living will slowly but surely fall precipitously.
Peter says American manufacturing is not efficient !! UNREAL !!! always attacking American. No America cannot compete in the free market when the competition
is paying its labor $2 hr with 0 benies. American business moved over seas because of the Clinton NAFTA/ WTO and Bush tax breaks . Fair trade must be implemented in a gradual form slowly balancing the scales of trade into a more favorable position for America.
I can think of 5 or 6 examples of how just the people where I work aren't as efficient as foreign workers AND have far less respect for waste and the commodities we consistently toss in the trash.
All these little drops add up to gallons in the long run.
The one shining star in America's cap and it's just about the only one, is, we are the more creative people in the world.
We're really going to have to think our way out of this mess we're in.
@Luvanicebum Think our way out ? LOL .. Big Corp would only outsource those
results to China. America has been undermined from the inside the constant cravings for increased profits the easy stock market money portfolio buy up all the
GOLD until the price makes it a useless product in the manufacturing sector. Buy Buy Buy Sell Sell Sell if your not in the game you will lose BIG TIME ...
There's something I don't understand, and I'm sure there's a good explanation, but it'd be helpful, Peter, if you could clarify: when we buy stuff from, say, Japan, they get our money in return, which they can spend however they want, right? That situation per se seems fine for Japan. So isn't the bad deal for them not the trade deficit per se, but rather the fact that they've been loaning us all this money while we're getting less able to pay it back (perhaps because it's going overseas?)
@andrewschwartz101 Actually, the reason Japan and China 'loan' the US money is to strengthen the dollar against their currency. This makes their exports 'cheap' in US dollars, and when something is cheap, people tend to buy more of it. For example, the Toyota Corolla is roughly 16K, if Japan allowed the Yen to appreciate (or dollar depreciate), then it would increase the price to about 25K, which means Toyota would sell a lot less cars in the US market, hence they prop the dollar buying it.
Food has been rising steadily the last 2-3 years.. it's been very gradual, but I've been keeping track of the stuff I purchase most often and the price increases have been incredible.. for example, this one brand of rice I like to buy went from $2.50/lb to $4.. at every store that used to sell it... that $1.50/lb increase doesn't seem like much, but when you have 50 common things you buy every month, and they each go up at least 50% in 2-3 years.. it adds up. Stock up on freeze dried food.
good point on how savings can lead to economic growth. i believe that you are 100% correct in that the government doesn't promote consumer savings enough.
Peter....while I concede that a drop in the dollar will reduce our standard of living in this country, isn't that same drop the critical ingredient in restoring a trade balance and getting the trade deficit under control? Doesn't an approach towards protecting the value of the dollar restrict our ability to compete in global trade and restore the balance?
According my friends in the states, prices of food are rising as we speak. These clowns who say there is no price inflation must have servants who do their shopping.
@pretorious700 Well they factor out "food and energy" when it suits them so they can say their is no inflation but yet when they want to get people to NOT worry about DEFLATION (or really the effects of deflation cuz deflation = taking money out of the system) they then factor IN food and energy since those two aspects have been rising and rising so they say "don't worry, wholesale prices are rising". It's all a game over here. Don't listen to US media, we're screwed!
@pretorious700 Ya. It's called stagflation. Necessities all rise in price, and frivolous extras stay the same or dip a bit. Food though, who needs that shit?!?...Am I right, am I right????
I'm sure some competitors of schiff are paying ppl to slander. Come on .. Give it a break. Go buy gold before it reaches 1400 by oct.. Mark my words..
I always find it comical when people criticize others for just making a living. Its true that Peter Schiff owns an investment company, but I don't see him pushing it on his videos. He mentions his company and his role in it as part of the conversation, sometimes; but, its never a constant feature as you would imagine if he was pushing a sale. I do know he's been right about precious metals, where our fiat currency system is headed, and that's good enough for me.
Schiff you criticize the so-called experts on CNBC, yet you are one of these clowns as well!! Anyone in the media is never a real expert or they wouldnt be in the media. The media gets its money from the companies that advertise. The financial media gets its money from Wall Street. Thats why they air clowns like schiff and others who NEVER HELP YOU MAKE MONEY. Schiff has a TERRIBLE track record. If you dont realize that you havent researched it. Dont be a fool, Schiff is a snake oil salesman.
Schiff you criticize the so-called experts on CNBC, yet you are one of these clowns as well!! Anyone in the media is never a real expert or they wouldnt be in the media. The media gets its money from the companies that advertise. The financial media gets its money from Wall Street. Thats why they air clowns like schiff and others who NEVER HELP YOU MAKE MONEY. Schiff has a TERRIBLE track record. If you dont realize that you havent researched it. Dont be a fool, Schiff is a snake oil salesman.
Schiff you criticize the so-called experts on CNBC, yet you are one of these clowns as well!! Anyone in the media is never a real expert or they wouldnt be in the media. The media gets its money from the companies that advertise. The financial media gets its money from Wall Street. Thats why they air clowns like schiff and others who NEVER HELP YOU MAKE MONEY. Schiff has a TERRIBLE track record. If you dont realize that you havent researched it. Dont be a fool, Schiff is a snake oil salesman.
@MrSchiffisaclown your a troll who the heck would dedicate their account to bashing someone? People like you are pathetic you are nothing more than a smear campaign. just like RonPaulHatesBlacks
@SOLIDSTEELEDOTCOM inflation has to do with the size of the money supply vs the # goods in demand and produced, it has nothing to do with the number of people. Having too many people (more immigration) merely creates poverty (not enough jobs, goods or money to go around) unless they bring money in with them (which none will at this stage in the game, if they're smart).
Question for anyone... If I sold my home today owner finance with the bulk of it due in one year and the dollar becomes totally worthless . How do I protect my investment?
Should I put in the contract that one year from now when the payment becomes due I be paid in silver? Am I thinking right?
SO why is T. Geithner so anxious for the Chinese to cut lose the value of the Yuan? I understand the Chinese resistance, but not the US benefit... A higher Yuan/lower dollar would do exactly what for the US? Any answers welcome.
@billschannel - In short a lower dollar/higher yen would 1) end the spending spree of US consumers as products from China would get more expensive, 2) make US products less expensive for consumers in other countries. It would hurt as hell for some years but with the right policies (basically lower taxes and make it easier to run a business in the US) the US might possibly be able to produce their way out of the horrible economic and national debt situation it is in now. So good luck with that!
@maxine2win - Thanks. It was indeed supposed to be the Chinese Yuan/Renminbi and not the Japanese, Yen although similar fall for the US$ will probably happen vs the Yen.
@billschannel runarolsen gave some good answers all i can add is America must also raise import taxes. We have the tools to bring manufacturing back to the U S we just need to use them.
Great vid. How I approach people with the necessity of manufacturing: An economy, like a person, has a hierarchy of needs. A person needs to be physically fed before he is emotionally fed. He must be emotionally fed before he is spiritually fed. Similarly, society needs an agricultural base before it can have an industrial base. It needs an industrial base before it can have an informaiton base. The USA is the only country in the world systematically outsourcing all three.
Peter, I don't get it. You say they export stuff to us in the hopes of getting something in exchange, but isn't the money we give them for their products the exchange itself? How isn't that still a trade, money for products? Why does it have to be goods for goods?
@MaurDL Because they have to spend the money on something. What do you buy with US dollars? Well, mostly you buy US products. The money is just a medium for exchange. You can't do anything with the money except spend it on something else.
Also note, that is how the dollar gets devalued. If we have all these dollars floating around but nothing to spend it on then the dollars become worthless, but if there are few dollars and we export a lot then their value increases.
@MaurDL all fair and proper trades are goods for goods or resources are drained from the nation with the trade-deficit, for a long time or forever. Taking paper in the mean time is only useful if it gets the same purchasing power later in goods, and once upon a time it did, but now it won't. USD paper is not keeping purchasing power in goods and will lose more as the US Fed (Bernanke) prints another trillion. It's the same as agreeing to goods for goods then giving half the amount.
@ytgv3fc7 that makes sense, I guess my question was doesn't having dollars still let you purchase oil and whatnot since the dollar is still the de facto world currency? And if we weren't devaluing the money wouldn't it still be a legitimate trade if it allowed you to purchase equivalent goods (even if not necessarily produced by the US)?
@MaurDL ah, I guess my answer is: the worse the USD problem is, the less it will be the de facto world reserve currency thereby creating the situation whereby you can't by imported things like oil for a reasonable price in USD. So long as you can trade in equals and get the thing you worked for, even if it's shipped in, then paper can indeed be used as money. It's merely highly prone to fraud. That doesn't mean it starts as fraud. We're far, far from that starting time.
It amazes me that there is so much talk about the Dollar.its been a long time since it had any value at all. its debt. time for gold again.time to open the books and start fresh.transparent banking should be the discussion.
Petter, agree on most of your points, but should add that the problem is not only in the availability of cheap money and low % rates in the US, but also in the high cost of money in the developing (i.e. producing) countries. The only long-term solution for the US and the world out of the recession would be to pump more money in the emerging markets so that in few decades the costs of production in the US, Europe, China and India and the cost of capital become the same or similar.
@rast123456789 If you feel smarter listening to this clown then you are an idiot, Research his track record. he is a salesmen and you have been sold. Schiff's clients lost their ass. FACT.
We are manufacturing more than you may realize. Fast food is manufactured on site. Starbucks manufactures it's products on site. The construction industry is all about manufacturing from homes to cable t.v. installers. How much can a person make on an assembly line when most of the work is better done roboticly? Manufacturing costs less overseas because standards of livings are so low and labor is so cheap or even free in some cases. I don't see how we can go back to thetraditionalfactoryeconomy
@2uberu Ok so go to those countries that have cheap labor and determine their standard of living based on next to zero ability to borrow money. Now measure living standards of US citizens based on zero ability for them (or government) to borrow (or print) money.
Easy money inflates prices. There's still a gap, but its not nearly as wide as you think. We lose more people to "cheaper workers" because most are used to inflated standards of living based on borrowed money.
We manufacture those things here, but then we consume it all. It's not benefiting anyone. McDonald's gets a lot of it's beef from Brazil. They don't even use much of our own cattle! And assembly lines aren't really manufacturing, since the parts are made in countries like Mexico and assembled here which we again consume. The point is that our consumer economy greatly outweighs our manufacturing economy. Do you see any operating steel mills around anymore? Nope.
@asmall89 Do you really think that we can put people back in factories doing things that robots can do better? How much would they have to be paid to compete with the slave labor in the rest of the world. I don't think factories are the solution. Govt. taking less from our paychecks is a good start.
There are a lot of factory jobs that people still do, like over in China. Even if they were all robotic factories over here there still would have to be people running them right? America has to manufacture goods so it can have something to offer the world in return for the goods it consumes. We don't have anything to offer hence the trade deficit.
@2uberu Well then, I guess what you are saying is that it is acceptable to force Americans to compete with foreign slaves? You think "globalization" is working out fine for Americans? Why didn't my grandparents generation think of that?
As for taxes, all the arguments used against excessive taxes are equally persuasive when used against excessive profits, especially if the profits go to a monopoly and there isn't much difference between monopolies taking over a govt. vs govt. monopolies.
@2uberu you can, like the Ford flex-plant, have a lot of robots moved around and chosen to be used or not by humans. Most fast food is barely processed on site, it's frozen and pre-baked and delivered. Even Tim Horton's does that now. Coffee is pre-mixed for the blending & roasting frequently, even if not all of it on-site. Construction is way down and will continue to drop. Demand is too low to do any.
@2uberu When we first started trading with China again we were told no sweat shops or slave labor would be allowed now by lowering our moral standards we have lowered our standard of living in the U S.
This is true and in addition, WE decided to stop making our own things.
Instead we focused on living like rich playboys off our forefathers wealth instead of forging new industries.
We collectively, as a country of people decided that the $3.00 Chinese can opener was better than the $12.00 American can opener, because it was cheaper.
In a nutshell, we sold ourselves up the river.
And throughout history we have ignored thousands of voices of reason. We deserve all of this.
Truth hurts. and stupid dumbed down americans can't believe the greatest country in the world is about to be a third world nation. Peter, i love your mind and heart, but ef the left side, and ef the right side. We need a constitutional gov't. A De Jure gov't. You and Dr Paul need to pull resources and front the Constituion Party. That is what we want. That is what we need. Restore the republic
While our industry economy has collasped, the illegal drug trade takes it's place.
We can't even see that money, but, it has pumped this economy up, and, makes the security industry a winner....Don't know if you saw the yt vid of theantiterrorist, called corporate control or not, but, we are no longer the us of a, we are Homeland Security.
The dollar can not fall, I mean its 13- 14 trillion in the whole now, how come it did not collaspe at the first trillion?? ITs all smoke and mirrors these number games, the reality is we are all enslaved while the big boys in charge just print the money, the only real way to get away from this is stop trading in paper currency. The gold idea will not work either because only the rich can buy it. We need a whole new system on how to operate trades and goods.
@dholmastersherlock Just like the Dow couldn't fall and the economy was "sound" in 2008? Everybody is buying gold fool, better get in on some, also silver!
@dholmastersherlock I'm not rich, I bought gold. It don't think it will make me rich either. What I do think is there's no crazy fraud in this paper game that will lose my purchasing power when I want something for that gold. It is what it is. We can't have a system with no money and if we have a money system we can't have one without gold.
@dholmastersherlock The dollar is just a tool used to make trading goods easy you are right ot can not fail as long as we can print it but this only applies to the U S dollar all others are relative to it and can be driven to failure.
The American public is like the coal miner who just saw his canary die and barely having the time to say, "...I don't smell any gas?" before he crashes to the ground DEAD!
Peter has a sense of humor about his gold explanation-cute.
I'm surprised peter nv mention abt yen intervention as much as a main focus.. Seriously, I think now yen is not a safe ' safe haven ' but gold is.. Will there be intervention for gold and Peter I read so many economist being confused by gold rally but I understand the rally but if all the printed money are rushed n pump into gold. Won't it be evaporated when a crisis come??
It's kind of like like your in a mine and the canary drops dead and instead of running out of the mine you sit there and you say "Why is that canary dead? I mean, I don't smell any gas..."
Seems to me that Peter is absolutely right on everything and I really wonder about how people can reach the conclusions they do in some of the comments.
Perhaps Japan currently swaps 10 items for $100 value. Currency changes will suddenly mean that they swap 5 items for the same $-value and use the remaining items themselves.
US will then print some more money to get more items but of course this is just going to raise the price in at least the same rate.
Hey, Peter. If the rest of the world can't afford Japan's already expensive products, how do you believe their products becoming more expensive to outsiders will be good for them? We're deflating and you know we are.
@bweazel we're inflating, not deflating. Japan's products are worth the money: the electronics they throw out are equal or better to the newest of the new in North American markets. Literally you walk along and pick their electronics garbage out and sometimes it's more advanced than what is for sale in North American markets. Think about that.
Go look at the numbers, ytg. We are deflating, and I never said they weren't worth the money, I just said they were expensive. Japan cannot afford a much stronger currency than it has now or they will not be able to keep out their exports. Dude, it's obvious you are just pissed at your life and your home country (since you guys don't produce jack shit either) and America. I'll say again, no one should listen to your childish trantrums. Because that's all they are. You're completely uneducated
and the currency markets. WHy is my labor with x an hour and worth 100 times less somewhere else? THat is call control, the labor should be the same everywhere if that was the case we all would have jobs. If that was the case the rich would not stay rich because they can not enslave nations. WE should have one currency!!! Make it fair for everyone.
@dholmastersherlock having just one fair currency means having no government able to manipulate that currency. By default that's gold and the other precious, or even base metals can do it. Paper can not. It's trusting an arsonist to be the fire dept chief, it doesn't work. Why in total are all people vs all wages leading to super-low wages on average? Too many people for the production demand possible, too much slavery in the world promoting free labor to create more slavery by "competition"
Its the dollar hedgemony with the military complex. The dollar will never fall because its backed by the military. THE usa bullies the world with their 700 bases all over the world. PETER the dollar will never fall! Sorry you will be wrong on this. The white rich are here and europe, who control the military with the nuke power ,the politicians of other countries are force to shut up and deal with it. Saddam tried to make it right look what happen. The bullies control the military
@dholmastersherlock Reality is it takes money to produce and maintain military and nuke bombs and pay & train people responsible to produce and operate.
Read cases in human history when previous super military-industrial complex had out stripped other sectors in a country's economy.
In the end country/civilization collapes and fails due to weak economy by invasion from its immediate enemies or by enviro-depletion abandonment or by alternate cultural economic assimilation.
@dholmastersherlock the dollar will fall because people won't want it anymore as it's over-printed. You can't just invade another nation, and another, and another, while printing money and stealing oil to fund everything. Eventually you'll get a world war and since many nations have nukes - Russia, China, India, Pakistan, Israel - America would eventually get vaporized, maybe on a foreign battle field, maybe at home. Super-wars are a bad plan.
Peter, just a quick "Thank you" for taking the time to post these vlogs. They help increase my understanding of economics immensely. You have a real gift in explaining how the global economy works. Please continue to post.
I'm sure you are aware that Japan intervened today to attempt to push the Yen lower versus the USD. If you read this, could you please comment as to what this move would do to the state of the USD (short term), and if this move will have adverse effects on the US?
Peter what will happen when Japan keeps buying more USD to hold their currency down? They will take on more and more USDs that are devaluing, meaning the Japanese government is losing money, so that Japanese companies can make a profit?
Peter, why would you take our valuable time to rebut some nitwit who criticizes you? No free market economy can survive on a "Service Industry" only! We know how things work, so please stop explaining basic economics to the few idiots that complain about what you say.
peter we have to let the house of cards fall if it is to be rebuilt correctly. the smart will buy gold ,silver ,and land. the stupid will give their money to the stock market brokers. We live in a TV worshiping society, If tv says our economy is fine and invest in the long run then they do it. I say let them do it. no sympathy for the stupid! In 2001 the market was around 9k-10k 9 years latter the markets are around 9k-10k gold was 400 an oz now its 1250.
At 3:48 Schiff stated that the price of gold rising is a sign of inflation.
This is false.
Inflation is a general rise in prices, not just of one commodity
At about 5:50 he also got himself into a muddle saying, in effect, more savings are needed to make money available to lent. The problems of financial crisis where not a lack of savings but a lack of confidence between institutions
The reason the price of gold rising is a sign of inflation is because when currencies weaken (because of inflation) people go to gold as a hedge. People don't run to buy consumer products to protect their savings they run to gold and or silver.
The reason there would be a lack of confidence between institutions in due to the fact that there was not enough saving.
@maxine2win The definition of inflation is the creation of money without the commensurate creation of goods. We have that. Rising prices, or equivalently, steady prices in an environment when they should otherwise be falling as they are now, is a SYMPTOM of inflation.
@maxine2win Houses of cards depend on confidence to remain standing, fundamentally strong markets do not. The word "con" comes from the term "confidence scam".
@maxine2win ...WRONG....INFLATION IS THE INCREASE IN THE MONEY SUPPLY AND THE CRISIS WAS FROM BORROWING AND SPENDING INSTEAD OF SAVING AND PRODUCING...READ A BOOK ON AUSTRIAN ECONOMICS!!!
I was going to take some Sovereigns to one to see how much they would offer but they didn't stay too long in my local 'mall' and I can't be arsed finding where they went
@martintheguitarist Looking the historic prices of differente commodities (pré-crisis-to-now or start of year-to-now) it's possible to see an inflationary bias, not only on gold & silver. Coffe (+46%), wheat (+50%), Sugar, Soybeans, iron ore (VALE managed with China a series of adjustments in the price of iron ore this year).
But I agree (and I think that Peter too) that all this 5 points that you mentioned have a important role to drive the yellow metal.
But yeah, you speak far too much sense to be part of politics. At the very least you'll serve one term - and in that term you can tell the idiots on capital hill something they know to be true, but refuse to wake up to. Why is it they can't let the system correct?
Major international War is inevitable within 2-3 years max. This is the only thing that'll get the US manufacturing base kick started.
Right now there is a bubble in paper assets, or virtual assets. When there is a collapse in and fear of all paper/virtual assets is at an all time high - stocks, bonds and paper money will be at an all time low. (including China's)
That's when you BUY!
Peter is wrong about the world wide impact of a US dollar collapse. If the USD can fail so can every other currency, and remember those other currencies are backed up by the USD.
Fantastic video, once again highlighting the inconsistencies within the current economic consensus. Without people like Schiff and Ron Paul fighting against the mainstream we'd be in a lot more trouble, even more trouble than we are now.
A strong yen wouldn't be good for those who invested weaker yen into production capacity geared towards markets whose currency is weak (U.S.). If emerging markets with strengthening currencies can pick up the slack buying those exports, the Japanese wouldn't be hurt as bad. I guess it comes down to how much Yen and Yen-denominated assets the Japanese people have versus how much export-related productive capacity they have invested in and how much non-Yen denominated assets they are holding.
@mattmcwax - Also, I think in general that currency intervention by governments is not what we want. It's another way to play favorites by redistributing wealth. Toyota and Sony go up 4% after intervention but yen-holders lose roughly the same.
"I don't smell any gas" would be the government economist. He will take out his state of the art laptop and points to it, " look at this the meter shows 0% inflation"
Americans dont care if they get poorer as long as they have a job to go to every day... Currency is about politics of jobs and recessions and the public are not generally responsible enough to take control and except the risk of unemployment so that the currency can be supported.
I am a liberal atheist and must konfess, his analysis is much better than krugmanns. I think Schiff is a liberal libertarin capitalist. Interesting mix.
thanks for a lot of information i will try this features.
VideoGameCoupons 1 month ago
Schiff pwns all phony economists! Good video again.
TWSceptic 2 months ago
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Ron Paul CAN FIX the economy for years to come. You can read about it on my page. I had no idea until I read this. I'm a college student and usually I mind my own business with this stuff, but just trust me you gatta read this. I only discovered this letter yesterday, and I became so moved, I decided I had to do something. So please come visit my page; read all about it and learn what YOU can do!
1dtbimp 5 months ago
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The Rothschilds are enslaving the People of the US via the fraudulent criminal conspiracy known as the illegal, unConstitutional Federal Reserve. The entire US government is now simply a puppet of the Rothschild banking dynasty.
“End the Fed”
Every political candidate must be evaluated based upon this single all telling crucial issue. You are either with the People or you are with the Rothschilds and their agents, the international bankers.
This is the new American litmus test.
Lentenlands 1 year ago
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why does anyone listen to this moronic beaknosed filthy jew. Fuck this parasite. Stop allowing yourself to be let around by these evil fucking jew scum
BeyondNeptune 1 year ago
Search For the series
"BUSH OBAMA DESTROYED US ARMY"
Part 3 uploaded
eliasmouawad 1 year ago
i evision dumb blond teen gals from alabama, assembling, in sweatshops, cellphones for export in exchange for yuan bonds... that's be fun to see
coturnix19 1 year ago
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@coturnix19
What do you mean dumb blond teen gals from alabama.....
That's not nice........
But kept in contex your comment is amusing!
Have a good one!
ABETRMAN 1 year ago
THE ANCHORS AT CNBC ARE ILLEGALLY MONITORING MY PERSONAL LIFE
I AM NOT CRAZY I DO NOT BELIEVE IN UFOs OR CONSPIRACY THEORIES THIS IS TRULY HAPPENING TO ME AND I'M SEEKING CIVIL AND CRIMINAL CHARGES AGAINST THEM.
CLICK MY PROFILE FOR MORE INFO
111WLee 1 year ago
they aren't overcharging there is no such thing as overcharging in a free market also their prices and fees escpecially wconsidering schiff's favorite imbecile moments regarding nuismatic coisn which if you bother to check the books and etc. are the market prices or in fact under the market prices.
deltapunk21 1 year ago
@deltapunk21 in a free market there is typically ONLY such charging as OVER-charging and it is wrong, it is fraud and it must cease to exist, be punished with full seizure of all assets AND jail time.
Free markets are fraud markets, rigged markets, it's a mathematical certainty.
ytgv3fc7 1 year ago
I LOVE YOU MAN.
YOU HAVE TAUGHT ME SOO MUCH PETER.
After 3 years of watching you and studying all of this, I am FLUENT.
I cannot thank you enough!
Best regards
dumbtrucker321 1 year ago
Thanks Peter for an awesome video!
Would you be able to explain your strong currency belief from the position of exporters and importers and how it overall benefits a country, especially if that country relys on exports being a very large part of its income.
topshotmx8 1 year ago
Comment removed
wilburbrabant 1 year ago
Great vid buddy, as always. Thanks.
Theres always a moral argument against service vs productive, socialist vs capitalist, and thats fine, but underlying that is a financial argument that cant be shaken. For example, even if you're morally for it, socialist ideas are impossible in a suffering economy.
In just the same way, of course we can have services, but only if our economy is strong and sound enough to handle it, because services dont make our economy strong, they're simply bonuses.
treysparker 1 year ago
@treysparker depends on the nature of the suffering. If the nature of the suffering is that there's people unable to work but who CAN be made able, be it the problem is no housing or not enough food "for now" but it can be fixed, then socialism can fix that. If there's too many people, not enough places to work, not enough food *no matter how it's shared* then socialism can't fix that. Maybe emigration can.
Socialism stops Canada's economy from suffering, for example.
ytgv3fc7 1 year ago
@treysparker for example: all the provinces and territories are proposing combining their drug purchases. This is tax-dollars put to work. If we all paid our own we'd pay a lot as individuals; if each province pays its own they save some money but if they all pay together ALL AT ONCE for a LARGE bulk purchase they can save an additional 10 BILLION DOLLARS. I know we hear 'trillion' a lot these days but not FROM Canadian budgets. Saving 10 b is good coin, good socialism.
ytgv3fc7 1 year ago
Great video, great points, you can't disprove facts, we do have a trade deficit, but hopefully we can run that deficit longer than you predict. Which is probably going to happen.
Karmiangod 1 year ago
interesting as always Peter. one of the few willing to get to the heart of the problem while others bury their heads in the sand...
clarasbadman 1 year ago
We are all in deep do-do!
trime1851 1 year ago
What some people seem to be missing... Our current account deficit means wealth is draining out our economy. We are becoming poorer and more indebted over time. Think of America like a small business, negative cash flow. If the USA was a stock, it would be worthless. We are unprofitable. Since we can print money and are the current global reserve currency are #1 export is inflation/devaluation of the Dollar.
Our standard of living will slowly but surely fall precipitously.
phatcheck 1 year ago
Peter says American manufacturing is not efficient !! UNREAL !!! always attacking American. No America cannot compete in the free market when the competition
is paying its labor $2 hr with 0 benies. American business moved over seas because of the Clinton NAFTA/ WTO and Bush tax breaks . Fair trade must be implemented in a gradual form slowly balancing the scales of trade into a more favorable position for America.
xxabsolutexxhavoc12 1 year ago
It'll never happen dude.
I can think of 5 or 6 examples of how just the people where I work aren't as efficient as foreign workers AND have far less respect for waste and the commodities we consistently toss in the trash.
All these little drops add up to gallons in the long run.
The one shining star in America's cap and it's just about the only one, is, we are the more creative people in the world.
We're really going to have to think our way out of this mess we're in.
Luvanicebum 1 year ago
@Luvanicebum Think our way out ? LOL .. Big Corp would only outsource those
results to China. America has been undermined from the inside the constant cravings for increased profits the easy stock market money portfolio buy up all the
GOLD until the price makes it a useless product in the manufacturing sector. Buy Buy Buy Sell Sell Sell if your not in the game you will lose BIG TIME ...
xxabsolutexxhavoc12 1 year ago
The canary line is the best one I have heard in years !
The non political Peter is back !
phillipdriscoll 1 year ago 9
@phillipdriscoll yeah the canary gag tickled me too...lol
wuddychunk1 1 year ago
Greenspan uses the same analogy about gold.
IWashMyOwnBrain 1 year ago
"why is the canary dead!!!" Damn that is a great analogy HAHA. Go Peter!!
762lenny 1 year ago
There's something I don't understand, and I'm sure there's a good explanation, but it'd be helpful, Peter, if you could clarify: when we buy stuff from, say, Japan, they get our money in return, which they can spend however they want, right? That situation per se seems fine for Japan. So isn't the bad deal for them not the trade deficit per se, but rather the fact that they've been loaning us all this money while we're getting less able to pay it back (perhaps because it's going overseas?)
andrewschwartz101 1 year ago
@andrewschwartz101 Actually, the reason Japan and China 'loan' the US money is to strengthen the dollar against their currency. This makes their exports 'cheap' in US dollars, and when something is cheap, people tend to buy more of it. For example, the Toyota Corolla is roughly 16K, if Japan allowed the Yen to appreciate (or dollar depreciate), then it would increase the price to about 25K, which means Toyota would sell a lot less cars in the US market, hence they prop the dollar buying it.
RedMarineNex 1 year ago
shhhh don't wake them up lol
leavesofliberty 1 year ago
"That's the point, the canary gets it first!" - Peter Schiff
wellbangstevens 1 year ago
Food has been rising steadily the last 2-3 years.. it's been very gradual, but I've been keeping track of the stuff I purchase most often and the price increases have been incredible.. for example, this one brand of rice I like to buy went from $2.50/lb to $4.. at every store that used to sell it... that $1.50/lb increase doesn't seem like much, but when you have 50 common things you buy every month, and they each go up at least 50% in 2-3 years.. it adds up. Stock up on freeze dried food.
pwoznic 1 year ago
good point on how savings can lead to economic growth. i believe that you are 100% correct in that the government doesn't promote consumer savings enough.
bgordon20 1 year ago
Dem'rat Politicians v. Dem'rat Policies:
"
Democrats spend on anti-health-reform advertisements
... Democratic candidates have poured $930,000 into ads deriding the health overhaul but just $300,000 in pro-reform spots, ...
"
PRICELESS.
TylerNull 1 year ago
Peter....while I concede that a drop in the dollar will reduce our standard of living in this country, isn't that same drop the critical ingredient in restoring a trade balance and getting the trade deficit under control? Doesn't an approach towards protecting the value of the dollar restrict our ability to compete in global trade and restore the balance?
samuraicy 1 year ago
END THE FED AND YOU END THE WARS, BIG GOVERNMENT AND BANKERS MONOPOLY
petiemac24 1 year ago
Peter one of your best posts. Cogently explains whats going on and whats going to happen.
Twinedog78 1 year ago
According my friends in the states, prices of food are rising as we speak. These clowns who say there is no price inflation must have servants who do their shopping.
pretorious700 1 year ago 11
@pretorious700 Well they factor out "food and energy" when it suits them so they can say their is no inflation but yet when they want to get people to NOT worry about DEFLATION (or really the effects of deflation cuz deflation = taking money out of the system) they then factor IN food and energy since those two aspects have been rising and rising so they say "don't worry, wholesale prices are rising". It's all a game over here. Don't listen to US media, we're screwed!
cmonpeeps 1 year ago
@pretorious700 yes, food prices have been raising stedily the past 10 years.
theWaterostrich 1 year ago
I live in the states, and, I haven't exaclty been recording the price of stuff, but, I haven't really noticed food prices rising
And I agree with schiff. But, if food is rising, its doing so very slowly
At least in my, not writing down the price of everything day to day, world
LordVigeous666999 1 year ago
@pretorious700 Ya. It's called stagflation. Necessities all rise in price, and frivolous extras stay the same or dip a bit. Food though, who needs that shit?!?...Am I right, am I right????
Lol.
Schiff is the man
seraphimWILLunite 1 year ago
One of the best Shiff Reports I have watched. Thanks for your continued dedication Peter.
leftydanvball 1 year ago
good on ya mate!
suddy669 1 year ago
I'm sure some competitors of schiff are paying ppl to slander. Come on .. Give it a break. Go buy gold before it reaches 1400 by oct.. Mark my words..
faviershoo 1 year ago
Anyone know a place to stream yesterdays Wallstreet unspun?
Keyguya 1 year ago
Peter: You HAVE to stop watching CNBC, all those dimwits are giving you agita.
bizwiz21 1 year ago
I always find it comical when people criticize others for just making a living. Its true that Peter Schiff owns an investment company, but I don't see him pushing it on his videos. He mentions his company and his role in it as part of the conversation, sometimes; but, its never a constant feature as you would imagine if he was pushing a sale. I do know he's been right about precious metals, where our fiat currency system is headed, and that's good enough for me.
REOGURU 1 year ago
Nice canary analogy.
SvrchovaneCechy 1 year ago
This has been flagged as spam show
Schiff you criticize the so-called experts on CNBC, yet you are one of these clowns as well!! Anyone in the media is never a real expert or they wouldnt be in the media. The media gets its money from the companies that advertise. The financial media gets its money from Wall Street. Thats why they air clowns like schiff and others who NEVER HELP YOU MAKE MONEY. Schiff has a TERRIBLE track record. If you dont realize that you havent researched it. Dont be a fool, Schiff is a snake oil salesman.
MrSchiffisaclown 1 year ago
This has been flagged as spam show
Schiff you criticize the so-called experts on CNBC, yet you are one of these clowns as well!! Anyone in the media is never a real expert or they wouldnt be in the media. The media gets its money from the companies that advertise. The financial media gets its money from Wall Street. Thats why they air clowns like schiff and others who NEVER HELP YOU MAKE MONEY. Schiff has a TERRIBLE track record. If you dont realize that you havent researched it. Dont be a fool, Schiff is a snake oil salesman.
MrSchiffisaclown 1 year ago
This has been flagged as spam show
Schiff you criticize the so-called experts on CNBC, yet you are one of these clowns as well!! Anyone in the media is never a real expert or they wouldnt be in the media. The media gets its money from the companies that advertise. The financial media gets its money from Wall Street. Thats why they air clowns like schiff and others who NEVER HELP YOU MAKE MONEY. Schiff has a TERRIBLE track record. If you dont realize that you havent researched it. Dont be a fool, Schiff is a snake oil salesman.
MrSchiffisaclown 1 year ago
@MrSchiffisaclown your a troll who the heck would dedicate their account to bashing someone? People like you are pathetic you are nothing more than a smear campaign. just like RonPaulHatesBlacks
rast123456789 1 year ago
@SOLIDSTEELEDOTCOM inflation has to do with the size of the money supply vs the # goods in demand and produced, it has nothing to do with the number of people. Having too many people (more immigration) merely creates poverty (not enough jobs, goods or money to go around) unless they bring money in with them (which none will at this stage in the game, if they're smart).
ytgv3fc7 1 year ago
Question for anyone... If I sold my home today owner finance with the bulk of it due in one year and the dollar becomes totally worthless . How do I protect my investment?
Should I put in the contract that one year from now when the payment becomes due I be paid in silver? Am I thinking right?
thxs!
TheUSVET 1 year ago
shared this on facebook so all my friends can watch it
PEDLIFE 1 year ago
gold is in bubble? well, maybe yes, but not now, wait 10-15 more yrs. that way we can all make even more money
hc167 1 year ago
I agree thanks for taking the time to post these "info-vlogs" You do a good job of breaking things down in a way people understand.
AwakePublius420 1 year ago
SO why is T. Geithner so anxious for the Chinese to cut lose the value of the Yuan? I understand the Chinese resistance, but not the US benefit... A higher Yuan/lower dollar would do exactly what for the US? Any answers welcome.
billschannel 1 year ago
@billschannel - In short a lower dollar/higher yen would 1) end the spending spree of US consumers as products from China would get more expensive, 2) make US products less expensive for consumers in other countries. It would hurt as hell for some years but with the right policies (basically lower taxes and make it easier to run a business in the US) the US might possibly be able to produce their way out of the horrible economic and national debt situation it is in now. So good luck with that!
runarolsen 1 year ago
@runarolsen
Yuan/Yen
Take care of your spelling or you will confuse people
maxine2win 1 year ago
@maxine2win - Thanks. It was indeed supposed to be the Chinese Yuan/Renminbi and not the Japanese, Yen although similar fall for the US$ will probably happen vs the Yen.
runarolsen 1 year ago
@billschannel runarolsen gave some good answers all i can add is America must also raise import taxes. We have the tools to bring manufacturing back to the U S we just need to use them.
IWashMyOwnBrain 1 year ago
It is ok with the rest of the world and they are exporting to us for the fun of it
They have done absolutely nothing to stop it, they will continue on this path until they are in financial ruin along with us.
john5246 1 year ago
If you want to know the reason behind the may flash crash watch this video "May Market Crash Homer".
mistatenzor 1 year ago
Great vid. How I approach people with the necessity of manufacturing: An economy, like a person, has a hierarchy of needs. A person needs to be physically fed before he is emotionally fed. He must be emotionally fed before he is spiritually fed. Similarly, society needs an agricultural base before it can have an industrial base. It needs an industrial base before it can have an informaiton base. The USA is the only country in the world systematically outsourcing all three.
falstoffe 1 year ago
Sell the phony out of the blue rally.
TheLiberalssuckdick 1 year ago
Brilliant. Thumbs up.
LuminousCosmos 1 year ago 2
Soros also thinks gold is a bubble...fortune magazine as well...who knows, they might have 100s of oz of gold themselves.
mechanicalengineer3 1 year ago
Peter, I don't get it. You say they export stuff to us in the hopes of getting something in exchange, but isn't the money we give them for their products the exchange itself? How isn't that still a trade, money for products? Why does it have to be goods for goods?
MaurDL 1 year ago
@MaurDL Because they have to spend the money on something. What do you buy with US dollars? Well, mostly you buy US products. The money is just a medium for exchange. You can't do anything with the money except spend it on something else.
Also note, that is how the dollar gets devalued. If we have all these dollars floating around but nothing to spend it on then the dollars become worthless, but if there are few dollars and we export a lot then their value increases.
kylethebomber 1 year ago
@MaurDL all fair and proper trades are goods for goods or resources are drained from the nation with the trade-deficit, for a long time or forever. Taking paper in the mean time is only useful if it gets the same purchasing power later in goods, and once upon a time it did, but now it won't. USD paper is not keeping purchasing power in goods and will lose more as the US Fed (Bernanke) prints another trillion. It's the same as agreeing to goods for goods then giving half the amount.
ytgv3fc7 1 year ago
@ytgv3fc7 that makes sense, I guess my question was doesn't having dollars still let you purchase oil and whatnot since the dollar is still the de facto world currency? And if we weren't devaluing the money wouldn't it still be a legitimate trade if it allowed you to purchase equivalent goods (even if not necessarily produced by the US)?
MaurDL 1 year ago
@MaurDL ah, I guess my answer is: the worse the USD problem is, the less it will be the de facto world reserve currency thereby creating the situation whereby you can't by imported things like oil for a reasonable price in USD. So long as you can trade in equals and get the thing you worked for, even if it's shipped in, then paper can indeed be used as money. It's merely highly prone to fraud. That doesn't mean it starts as fraud. We're far, far from that starting time.
ytgv3fc7 1 year ago
It amazes me that there is so much talk about the Dollar.its been a long time since it had any value at all. its debt. time for gold again.time to open the books and start fresh.transparent banking should be the discussion.
seesitnow4sure 1 year ago
@seesitnow4sure If you will send me 3,000 of your valueless dollars i will send you 1 ounce of priceless gold.
IWashMyOwnBrain 1 year ago
Comment removed
1iviko 1 year ago
Petter, agree on most of your points, but should add that the problem is not only in the availability of cheap money and low % rates in the US, but also in the high cost of money in the developing (i.e. producing) countries. The only long-term solution for the US and the world out of the recession would be to pump more money in the emerging markets so that in few decades the costs of production in the US, Europe, China and India and the cost of capital become the same or similar.
1iviko 1 year ago
This guy blew my mind i somehow feel smarter
rast123456789 1 year ago 12
@rast123456789 It wears off. Take one every six hrs, repeat as necessary.
mcdonaldscalling21 1 year ago
@rast123456789 If you feel smarter listening to this clown then you are an idiot, Research his track record. he is a salesmen and you have been sold. Schiff's clients lost their ass. FACT.
MrSchiffisaclown 1 year ago
@MrSchiffisaclown In 2008... who didn't? 2000-07 his clients did very well. FACT
aaronbassplyr 1 year ago
@rast123456789 everyone who listens to Schiff is immediately smarter. Obama should hire him like yesterday.
762lenny 1 year ago
Peter, is the Schiff For Senate website gone for good? I wanted to buy some things off the store before it was all over.
AngryPenguin27 1 year ago
Good video Peter! Simple, clear and to the point. Belgium supports you!
ivevanlee 1 year ago 2
HAHAHAAHA the canary get it first, great way to put it Peter
seks03 1 year ago
We are manufacturing more than you may realize. Fast food is manufactured on site. Starbucks manufactures it's products on site. The construction industry is all about manufacturing from homes to cable t.v. installers. How much can a person make on an assembly line when most of the work is better done roboticly? Manufacturing costs less overseas because standards of livings are so low and labor is so cheap or even free in some cases. I don't see how we can go back to thetraditionalfactoryeconomy
2uberu 1 year ago
@2uberu Ok so go to those countries that have cheap labor and determine their standard of living based on next to zero ability to borrow money. Now measure living standards of US citizens based on zero ability for them (or government) to borrow (or print) money.
Easy money inflates prices. There's still a gap, but its not nearly as wide as you think. We lose more people to "cheaper workers" because most are used to inflated standards of living based on borrowed money.
sirellyn 1 year ago
@2uberu
We manufacture those things here, but then we consume it all. It's not benefiting anyone. McDonald's gets a lot of it's beef from Brazil. They don't even use much of our own cattle! And assembly lines aren't really manufacturing, since the parts are made in countries like Mexico and assembled here which we again consume. The point is that our consumer economy greatly outweighs our manufacturing economy. Do you see any operating steel mills around anymore? Nope.
asmall89 1 year ago
@asmall89 Do you really think that we can put people back in factories doing things that robots can do better? How much would they have to be paid to compete with the slave labor in the rest of the world. I don't think factories are the solution. Govt. taking less from our paychecks is a good start.
2uberu 1 year ago
@2uberu
There are a lot of factory jobs that people still do, like over in China. Even if they were all robotic factories over here there still would have to be people running them right? America has to manufacture goods so it can have something to offer the world in return for the goods it consumes. We don't have anything to offer hence the trade deficit.
asmall89 1 year ago
@2uberu Well then, I guess what you are saying is that it is acceptable to force Americans to compete with foreign slaves? You think "globalization" is working out fine for Americans? Why didn't my grandparents generation think of that?
As for taxes, all the arguments used against excessive taxes are equally persuasive when used against excessive profits, especially if the profits go to a monopoly and there isn't much difference between monopolies taking over a govt. vs govt. monopolies.
dlucas90 1 year ago
@2uberu you can, like the Ford flex-plant, have a lot of robots moved around and chosen to be used or not by humans. Most fast food is barely processed on site, it's frozen and pre-baked and delivered. Even Tim Horton's does that now. Coffee is pre-mixed for the blending & roasting frequently, even if not all of it on-site. Construction is way down and will continue to drop. Demand is too low to do any.
ytgv3fc7 1 year ago
@2uberu When we first started trading with China again we were told no sweat shops or slave labor would be allowed now by lowering our moral standards we have lowered our standard of living in the U S.
IWashMyOwnBrain 1 year ago
This is true and in addition, WE decided to stop making our own things.
Instead we focused on living like rich playboys off our forefathers wealth instead of forging new industries.
We collectively, as a country of people decided that the $3.00 Chinese can opener was better than the $12.00 American can opener, because it was cheaper.
In a nutshell, we sold ourselves up the river.
And throughout history we have ignored thousands of voices of reason. We deserve all of this.
Luvanicebum 1 year ago
Peter,
What do you think of Soros calling gold the ultimate Bubble and very unsafe?
haveabeer123 1 year ago
Truth hurts. and stupid dumbed down americans can't believe the greatest country in the world is about to be a third world nation. Peter, i love your mind and heart, but ef the left side, and ef the right side. We need a constitutional gov't. A De Jure gov't. You and Dr Paul need to pull resources and front the Constituion Party. That is what we want. That is what we need. Restore the republic
gotsilver77 1 year ago 3
Schiff should be the US Secretary of the Treasury.
madhatter0110 1 year ago 2
While our industry economy has collasped, the illegal drug trade takes it's place.
We can't even see that money, but, it has pumped this economy up, and, makes the security industry a winner....Don't know if you saw the yt vid of theantiterrorist, called corporate control or not, but, we are no longer the us of a, we are Homeland Security.
medini2 1 year ago
The dollar can not fall, I mean its 13- 14 trillion in the whole now, how come it did not collaspe at the first trillion?? ITs all smoke and mirrors these number games, the reality is we are all enslaved while the big boys in charge just print the money, the only real way to get away from this is stop trading in paper currency. The gold idea will not work either because only the rich can buy it. We need a whole new system on how to operate trades and goods.
dholmastersherlock 1 year ago
@dholmastersherlock Just like the Dow couldn't fall and the economy was "sound" in 2008? Everybody is buying gold fool, better get in on some, also silver!
450984 1 year ago
@dholmastersherlock Yea...you're smoking that genetically modified schizoid pot.
Hate to bust your bubble the USD is manipulated to crash. The future is GOLD+4 (basket of currencies) for world reserve money.
jibbi4one 1 year ago
@dholmastersherlock I'm not rich, I bought gold. It don't think it will make me rich either. What I do think is there's no crazy fraud in this paper game that will lose my purchasing power when I want something for that gold. It is what it is. We can't have a system with no money and if we have a money system we can't have one without gold.
ytgv3fc7 1 year ago
@dholmastersherlock The dollar is just a tool used to make trading goods easy you are right ot can not fail as long as we can print it but this only applies to the U S dollar all others are relative to it and can be driven to failure.
IWashMyOwnBrain 1 year ago
Amen!
onechrishall 1 year ago
The American public is like the coal miner who just saw his canary die and barely having the time to say, "...I don't smell any gas?" before he crashes to the ground DEAD!
Peter has a sense of humor about his gold explanation-cute.
jibbi4one 1 year ago
I'm surprised peter nv mention abt yen intervention as much as a main focus.. Seriously, I think now yen is not a safe ' safe haven ' but gold is.. Will there be intervention for gold and Peter I read so many economist being confused by gold rally but I understand the rally but if all the printed money are rushed n pump into gold. Won't it be evaporated when a crisis come??
faviershoo 1 year ago
gotta love Peter "No Bull" Schiff
BankofSpirit 1 year ago
lol canary analogy 3:50
It's kind of like like your in a mine and the canary drops dead and instead of running out of the mine you sit there and you say "Why is that canary dead? I mean, I don't smell any gas..."
Wcoltd 1 year ago
Seems to me that Peter is absolutely right on everything and I really wonder about how people can reach the conclusions they do in some of the comments.
Perhaps Japan currently swaps 10 items for $100 value. Currency changes will suddenly mean that they swap 5 items for the same $-value and use the remaining items themselves.
US will then print some more money to get more items but of course this is just going to raise the price in at least the same rate.
godvad 1 year ago
Hey, Peter. If the rest of the world can't afford Japan's already expensive products, how do you believe their products becoming more expensive to outsiders will be good for them? We're deflating and you know we are.
bweazel 1 year ago
@bweazel we're inflating, not deflating. Japan's products are worth the money: the electronics they throw out are equal or better to the newest of the new in North American markets. Literally you walk along and pick their electronics garbage out and sometimes it's more advanced than what is for sale in North American markets. Think about that.
ytgv3fc7 1 year ago
Go look at the numbers, ytg. We are deflating, and I never said they weren't worth the money, I just said they were expensive. Japan cannot afford a much stronger currency than it has now or they will not be able to keep out their exports. Dude, it's obvious you are just pissed at your life and your home country (since you guys don't produce jack shit either) and America. I'll say again, no one should listen to your childish trantrums. Because that's all they are. You're completely uneducated
bweazel 1 year ago
Peter! You're the man.
ExhibitMan 1 year ago
Agreed, you really have a gift for understanding and explaining economics, keep up the good work.
Baitnator 1 year ago
and the currency markets. WHy is my labor with x an hour and worth 100 times less somewhere else? THat is call control, the labor should be the same everywhere if that was the case we all would have jobs. If that was the case the rich would not stay rich because they can not enslave nations. WE should have one currency!!! Make it fair for everyone.
dholmastersherlock 1 year ago
@dholmastersherlock having just one fair currency means having no government able to manipulate that currency. By default that's gold and the other precious, or even base metals can do it. Paper can not. It's trusting an arsonist to be the fire dept chief, it doesn't work. Why in total are all people vs all wages leading to super-low wages on average? Too many people for the production demand possible, too much slavery in the world promoting free labor to create more slavery by "competition"
ytgv3fc7 1 year ago
Its the dollar hedgemony with the military complex. The dollar will never fall because its backed by the military. THE usa bullies the world with their 700 bases all over the world. PETER the dollar will never fall! Sorry you will be wrong on this. The white rich are here and europe, who control the military with the nuke power ,the politicians of other countries are force to shut up and deal with it. Saddam tried to make it right look what happen. The bullies control the military
dholmastersherlock 1 year ago
@dholmastersherlock Reality is it takes money to produce and maintain military and nuke bombs and pay & train people responsible to produce and operate.
Read cases in human history when previous super military-industrial complex had out stripped other sectors in a country's economy.
In the end country/civilization collapes and fails due to weak economy by invasion from its immediate enemies or by enviro-depletion abandonment or by alternate cultural economic assimilation.
Yea, It happens..
jibbi4one 1 year ago
@dholmastersherlock the dollar will fall because people won't want it anymore as it's over-printed. You can't just invade another nation, and another, and another, while printing money and stealing oil to fund everything. Eventually you'll get a world war and since many nations have nukes - Russia, China, India, Pakistan, Israel - America would eventually get vaporized, maybe on a foreign battle field, maybe at home. Super-wars are a bad plan.
ytgv3fc7 1 year ago
Always a pleasure to hear you speak Mr. Schiff
mespe79 1 year ago
Peter, just a quick "Thank you" for taking the time to post these vlogs. They help increase my understanding of economics immensely. You have a real gift in explaining how the global economy works. Please continue to post.
I'm sure you are aware that Japan intervened today to attempt to push the Yen lower versus the USD. If you read this, could you please comment as to what this move would do to the state of the USD (short term), and if this move will have adverse effects on the US?
johnbenimble 1 year ago 46
Peter what will happen when Japan keeps buying more USD to hold their currency down? They will take on more and more USDs that are devaluing, meaning the Japanese government is losing money, so that Japanese companies can make a profit?
SynergyOfTwo 1 year ago
In two wordds .. Economics 101 jejjejejje
paisa954 1 year ago
Peter, why would you take our valuable time to rebut some nitwit who criticizes you? No free market economy can survive on a "Service Industry" only! We know how things work, so please stop explaining basic economics to the few idiots that complain about what you say.
cresidue 1 year ago
Does anyone have the link for the CNBC vid that Peter mentioned?
smasila 1 year ago
peter we have to let the house of cards fall if it is to be rebuilt correctly. the smart will buy gold ,silver ,and land. the stupid will give their money to the stock market brokers. We live in a TV worshiping society, If tv says our economy is fine and invest in the long run then they do it. I say let them do it. no sympathy for the stupid! In 2001 the market was around 9k-10k 9 years latter the markets are around 9k-10k gold was 400 an oz now its 1250.
johnywinslow 1 year ago
At 3:48 Schiff stated that the price of gold rising is a sign of inflation.
This is false.
Inflation is a general rise in prices, not just of one commodity
At about 5:50 he also got himself into a muddle saying, in effect, more savings are needed to make money available to lent. The problems of financial crisis where not a lack of savings but a lack of confidence between institutions
maxine2win 1 year ago
@maxine2win to make money available to LEND.
maxine2win 1 year ago
@maxine2win
The reason the price of gold rising is a sign of inflation is because when currencies weaken (because of inflation) people go to gold as a hedge. People don't run to buy consumer products to protect their savings they run to gold and or silver.
The reason there would be a lack of confidence between institutions in due to the fact that there was not enough saving.
12Tamtui 1 year ago
@maxine2win The definition of inflation is the creation of money without the commensurate creation of goods. We have that. Rising prices, or equivalently, steady prices in an environment when they should otherwise be falling as they are now, is a SYMPTOM of inflation.
GaryVolts 1 year ago
@maxine2win Houses of cards depend on confidence to remain standing, fundamentally strong markets do not. The word "con" comes from the term "confidence scam".
GaryVolts 1 year ago
@maxine2win ...WRONG....INFLATION IS THE INCREASE IN THE MONEY SUPPLY AND THE CRISIS WAS FROM BORROWING AND SPENDING INSTEAD OF SAVING AND PRODUCING...READ A BOOK ON AUSTRIAN ECONOMICS!!!
petiemac24 1 year ago
@petiemac24 watch?v=rMn2R5txO28
This video is called 'A Critique of the Austrian School of Economics'
It explains how there is no sensible basis to 'Austrian Economics'
maxine2win 1 year ago
excellent commentary Peter - I complain to my professors in university that we can only learn Keynesian econ
korzym 1 year ago
473 likes 0 dont wow:)
ABOSOLUTEKNOWLEDGE 1 year ago
Great analogy - canary.
vassilischr 1 year ago 5
Peter you truly have a gift for explaining economics to the layman. I hope you try again for the Senate.
Fast81Z28 1 year ago 3
In Australia, we have companies buying up gold in malls. They buy at a nice discount I'm sure.
shades2 1 year ago
@shades2
I was going to take some Sovereigns to one to see how much they would offer but they didn't stay too long in my local 'mall' and I can't be arsed finding where they went
maxine2win 1 year ago
No sign of inflation.. lol..
shades2 1 year ago
It's not true that the rising price of gold is necessarily because of inflation. It can be because
1. People are afraid of defaults and want something with no counter party risk
2. There is a mania and speculation
3. Central banks are buying and pushing the price up.
4. People with gold are fearful and less willing to sell
5. Traders needing to cover shorts
It's more likely a combination of a number of factors and that's why it's so hard for most people to make sense of the price changes.
martintheguitarist 1 year ago
@martintheguitarist Looking the historic prices of differente commodities (pré-crisis-to-now or start of year-to-now) it's possible to see an inflationary bias, not only on gold & silver. Coffe (+46%), wheat (+50%), Sugar, Soybeans, iron ore (VALE managed with China a series of adjustments in the price of iron ore this year).
But I agree (and I think that Peter too) that all this 5 points that you mentioned have a important role to drive the yellow metal.
francislauerBR 1 year ago
Good man Peter.
But yeah, you speak far too much sense to be part of politics. At the very least you'll serve one term - and in that term you can tell the idiots on capital hill something they know to be true, but refuse to wake up to. Why is it they can't let the system correct?
Major international War is inevitable within 2-3 years max. This is the only thing that'll get the US manufacturing base kick started.
All the best from London, England.,
buffett1000 1 year ago
Comment removed
buffett1000 1 year ago
WAY TOO MUCH COMMON SENSE FOR WASHINGTON.
666sigma 1 year ago
talk about a like to dislike ratio to be proud of!
samm1809 1 year ago 20
Right now there is a bubble in paper assets, or virtual assets. When there is a collapse in and fear of all paper/virtual assets is at an all time high - stocks, bonds and paper money will be at an all time low. (including China's)
That's when you BUY!
Peter is wrong about the world wide impact of a US dollar collapse. If the USD can fail so can every other currency, and remember those other currencies are backed up by the USD.
davincij15 1 year ago
The dollar is down to 27 here to the baht. When I moved here 2 years ago, it was at 34. 20% drop, and still falling.
pretorious700 1 year ago
Fantastic video, once again highlighting the inconsistencies within the current economic consensus. Without people like Schiff and Ron Paul fighting against the mainstream we'd be in a lot more trouble, even more trouble than we are now.
caversmill 1 year ago
A strong yen wouldn't be good for those who invested weaker yen into production capacity geared towards markets whose currency is weak (U.S.). If emerging markets with strengthening currencies can pick up the slack buying those exports, the Japanese wouldn't be hurt as bad. I guess it comes down to how much Yen and Yen-denominated assets the Japanese people have versus how much export-related productive capacity they have invested in and how much non-Yen denominated assets they are holding.
mattmcwax 1 year ago
@mattmcwax - Also, I think in general that currency intervention by governments is not what we want. It's another way to play favorites by redistributing wealth. Toyota and Sony go up 4% after intervention but yen-holders lose roughly the same.
mattmcwax 1 year ago
lol 422+ 0- :)
managarm1349 1 year ago
canary in the coal mine; nice one Peter.
justgetsome 1 year ago
@justgetsome canary in the gold mine. :)
GusBariga 1 year ago
@GusBariga ...ah...you got me.
justgetsome 1 year ago
This has been flagged as spam show
Ron Paul for President , schiff for VP
celebiary 1 year ago
This is one of his best videos for some time, excellent explanation of the current economic situation!
Hendo1974 1 year ago
Go Peter!! SPOT on
Intervene 1 year ago
"I don't smell any gas" would be the government economist. He will take out his state of the art laptop and points to it, " look at this the meter shows 0% inflation"
4rcane 1 year ago
Americans dont care if they get poorer as long as they have a job to go to every day... Currency is about politics of jobs and recessions and the public are not generally responsible enough to take control and except the risk of unemployment so that the currency can be supported.
astro7894 1 year ago
Great Britain has 4,7% inflation regarding consumer goods. the avalance has started. It's to late for the pebbles to vote.
pcuimac 1 year ago
I am a liberal atheist and must konfess, his analysis is much better than krugmanns. I think Schiff is a liberal libertarin capitalist. Interesting mix.
pcuimac 1 year ago
Right on Peter, knew you'd have some great insight on today's action. Fed also expected to buy another $1T in Treasuries.
javabarbarian 1 year ago
@113Doctor Nice saying.
doc7474 1 year ago