@trainspottinglover Because that's money they take away from investors who could otherwise use it to start up or expand business and create new productive jobs.
Peter often says "only when consumers start saving can business start investing and start hiring "
Why does it follow that if people save,business' will invest ? thx
as i side note schiff will be a regular on fast money twice a week tuesday and thursday from 5pm EST THIS IS GREAT NEWS;;;and my fast money is that ratrings on these shows will explode...it's a smart move by CNBC and well deserved for Schiff. If only they had done it sooner!
The thing I don't like at all about Schiff, is he thinks the answer is, instead of raising the wage of our outsourced jobs, he wants to eliminate the minimum wage and bring U.S. wages down to compete w them... think about that.. how could you survive on 50 cents an hr? Basically, his system would put the U.S. people into corporate enslavement.
@cervantessssssssssss, That is incorrect. Wages would only normalize if the marginal productivity of the two workers is equal. Nobody would argue that a foreign worker with less training, capital, and technology is as productive as an American worker.
I'll have to disagree and say that Peter Schiff is his own man in his own right and even closer to the libertarian ideal than Ron Paul. Schiff, for example, is 100% pro-choice on everything, as all real libertarians are. He also favors ending the war on drugs. In short, he's willing to emphasize personal liberties as much as economic liberties, and his younger, fresher attitude is more attuned to the defiance of younger voters.
We should outlaw the sale or intent to distribute gold. Wearing bling (more than a pennyweight) would be: 1st offense, misdemeanor, 2nd offense, felony.
Since he wants to discredit using 1980 as the time frame to prove gold has been a lousy investment I'll give you a true timeframe. If you would have bought $1 in gold in 1802 it would be worth $14 today -- if you would have invested that same dollar in the stock market in 1802 it would be worth $9 million. I'd say that gold has a terrible track record in our countries history.
Not sure if it makes sense to go before 1971 (U.S. went of the gold standard). Before 1971, for the most of the period, gold was money. The ratio between dollar and gold was fixed.
FIX the Republican party that the Regressive NeoCons destroyed.
Bring back Individual liberty, personal responsibility, limited Federal Gov't, competition between the Free States and competition among the FREE people.
No more Nation Building, No Foreign Intervention, No 700+ US military bases occupying almost EVERY nation on the planet PRODUCING resistance fighters!
No Isolationism (trade not tamper) and keep the giant corporations OUT of the people's pockets by ending Corporatism.
Regressives (Social-Fascists) ignore the fact that the 9th and 10th Amendments limited the scope of the Commerce Clause and the term Necessary and Proper.
Statists (Democrats, NeoCons and Activist Judges) are Hamiltonians. When read with this understanding, almost everything the Federal Gov't does is Unconstitutioal and that's why Regressives say it is irrelevent.
If only he would run as a libertarian...unfortunately linda mcmahon probably has more money going to her she'll probably run against Dodd and hopefully beat his pants off. sorry Schiff. but I really hope Schiff wins I wish he was running California instead of this pussy Republican Arnold Schwarzennager. I hope Schiff becomes big within the next few years and doesn't just stay a you tube sensation. Peter Schiff is the new Ron Paul.
Although you make some good points. Your solutions are the same OLD same OLD...Get Government of our Back and Cut Taxes...this approach has been done many Times and it the main reason why we are in this mess.
The question should be who were cutting taxes for and regulations that protects from the greedy Wall Street Croaks.
hrm. say I get a credit card and max it out buying gold, then when gold goes up I'll cash in and pay back my debt plus interest and walk away with the cream off the top.
how stupidly dangerous is this idea? should I do it or never, ever entertain that theory ever again?
Tim Gitner said (on Bloomberg 04-12-09) that all the banks could have failed if gov didn't step in. Protest rallys, demonstrations doesn't work, want the troops to come home? Want your voice to be heard hit them were it hurts vote with you feet take your money out of the banks!!
People cry about one dollar a week at an ATM. Your correct people should see how much in tax they pay per eight hours of work. I like how the Obama stimulus cost tax payers 240,000 dollars per job created. If a University tuition was 240,000 dollars for four years of school and the average pay was 40,000 dollars per year after graduation, people would cry like they do with ATMs.
Heard the news about Citigroup? Going to repay TARP with new stock issues. HAHA! Kuwait's sovereign wealth fund just bailed out of Citi too. NOT A COINCIDENCE! This is a big sign to sell Citi. It's showing Citi does not want the public anger from TARP bailout but is completely flat broke. So what do they do? They wipeout existing shareholders by diluting the stock to worthless. HAHA! Bunch of suckers. Everyone makes a deal with the devil and never learns.
Don't know if any of you heard - a Rasmussen Poll shows Peter Schiff beating Dodd at this time. Just got the email about an hour ago from the Schiff Campaign Team.
Hey Peter Schiff. I like the message and have been listening. Maybe at the end of the message you could tell a little joke or something. With all the bad news that has to be mentioned, we need to be cheered up afterward.
1. 'Gold is great' : As much as iron, copper, timber or platinum. Warren Buffett, who beats Schiff any day has sensible ideas on the futility of long term gold.
2. a) 'ATM fees are trivial' : Incorrect.
b) The poor aren't hurt by it: Shows exactly how out of touch Schiff is with Main Street.
3. 'The Free Market' : Its an oligopoly in banking, no FM. Transaction costs have dropped with technology, but fees are up.
@spicerer Warren Buffett is a fucking selfish hack who destroys American Jobs. Look at what he did to Budweiser. In fact Warren Buffett has invested so much into Chinese firms and helped foreign investors buy out American Companies the man should be fucking shot on sight!!!
@MACLEA1987 : And I assume Schiff is a magnanimous, altruistic, genius who's got the perfect deregulated, capitalistic, free market idea to spur American employment. At least Buffett (despite being the world's richest man), has the honesty to declare that we need higher tax rates on the rich.
Just a reminder that it was Schiff's type of ideas that reigned the last 8 years under Republican admin and look how well that worked out.
In all seriousness, why is gold held in such high regards/value? Why not something like tulip bulbs or acorns? What is it about gold,a mineral,that makes it so valuable? Think about it!
Let's say the impossible happens and we return to a sound dollar, would that make gold a commodity bubble? BTW great book Mr. Schiff and I hope you win the Senate seat.
As for the "$1 ATM fee" comment, its not the Fee that screw people, its the overdraft fees that kill ya... and the fact that they will allow you to overdraw your account when they know you don't have the funds. Often they tend can withdraw the money almost instantly but deposits take a few days to get on the books.
He can do anything, they can change accounting rules, they can be the final stop for the toxic assets and take the loss and write them off into thin air!
Why worry about nonpayment when you have the unlimted access to free money!!!!
What your speaking about is common sense. The problem is.... No one cares. How do you think we got to be this screwed up to begin with.
People don't care about the Constitution. They don't care how right you are and you'll have plenty of people come up with Bologna to
"disprove" you.
The reality is, your a independent thinker and the MAJORITY of America isn't. I really want to believe there is a fundamental basis for Constitution and common sense in American. Unfortunately there isn't.
We are not screwed up. The constitution is great. The majority is a group of independent thinkers you disagreeing with them does not change that fact.
But replacing them with the establishment Repubilcans is no better and if anything worse in a lot of ways. Have you forgotten Bush? The status quo of both parties need to be rejected. Libertarianism needs to rise.
An ATM is an Automated Teller Machine (ATM). You put your debit card (usually from your checking account) into the machine, enter your Personal Identification Number (PIN) and then choose an amount of cash you would like to withdraw
I totally agree with Schiff's analogies and the potential of total economic collapse. However, it is very possible that Obama will prove them all wrong. The FED can literally postpone the depression for years, as long as China and other countries cooperate. I think it's very possible that Obama can create a fake recovery that can manipulate the recession as officially over. The general public knows no difference and bodes well for an easy re-election in 2012. IMO.
According to Tyler Durden: "A lot of speculation surrounds the recent announcement by Barrick Gold to raise $3.5 billion in equity to finance buy-backs of its gold hedges. "
How does the common gold investor KNOW FOR A FACT that they have legit Gold, if they haven't taken delivery?
Trust?
Is it possible that ETF's and other Gold derivatives could be backed with these salted bars or none at all?
Are the Gold mining companies (Barrick) selling Gold they haven't dug out of the ground?
The USA's economy has gone beyond insane. Bernanke still will not raise rates and both him and Obama admit that all that money spent is still not producing a recovery. Big surprise they gave everything to the banks. Now Obama wants $200 billion leftover from TARP for a mini-stim package. First you should be outraged that they took more money than needed and did so by scaring the public. Give it back to the people. Split the money and write everyone a cheque. Don't give it to the banks again.
wont raise interest rates? because unemployment is at 9.8% and expected to still rise further. raising the interest rate right now would shift further shift aggregate demand, and further harm employment and gdp
Yeah, that's exactly the point. If you DON'T raise interest rates now the malinvestments will continue to accelerate and the end result will be worse than the great depression.
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My only question is....if gold is such a good investment....why are so many people trying to sell it? I see and hear a million different ads trying to get people to invest in gold. If its going to be such a great investment.....why would the current holder of it want to sell it? It doesnt make much sense to me. Maybe someone has some insight
Those that are selling it make a premium on the market price of gold, they aren't liquidating their positions in gold. If a gold exchange company is able to sell $1 Million per week in gold and they make an 8% profit for every dollar they sell, they will make a profit of $80k. So if they move all of the gold, they will have $1.08M after the first week. If they can continue this every week, they would make roughly $4M in profits for the year.
They are in the buisness of selling gold and since they make a profit for the transaction, it is in their best interest to sell it. All the while they could be investing the profits in more gold or diversify in other assets to make a more well rounded portfolio
You are starting to see the light. If I want to sell somthing to you I will tell you its a good time to buy it. The IMF is selling its gold to Asia when that is done watch the dollar rise and gold fall. When I saw ads on tv selling gold clad coins for $19 that was screaming top of the market to me. Its a fad.
listen, if I want to buy a churro...because I feel like eating a churro....and that is all the money i have left in my pocket...I will get that churro.... I love churros man.
If people didn't want to pay an ATM fee they wouldn't use one. How about planning your finances for the week a little better. People are paying for convenience, they don't want to travel the extra mile or wait another day for their cash. If a bank charged $100 -DON'T USE IT!
I dare you to ask for it,....see if you can actually get your gold ....store it in your closet, ( not in the casinos of wallstreet ) and not in Peter's bank accounts.
If people would cash in and get their gold. do you think there would be enough gold outhere to sent it to you? you would also put them out of business....why? cause there ain't enough....
You can buy real gold and have it deliverd to you....which is what most recommend including Peter Schiff.
You are right though, gold certs are only paper. They can be used as an inflation hedge, but if S@#$ hits the fan, don't count on claiming your gold with a receipt and don't count on anyone wanting your piece of paper other than using it for toilet paper.
I am sorry, Peter, if you would not keep trickng people about gold I would be able to tolerate the tone and scritching annoying sound of your voice.
Like the kid that always keeps running his mouth, even when the issue is over.... is like that asshole at a party that just cant seem to shut up.....as I said. sorry buddy. but you are annoying as heck....P.s. I am sure there are many people that feels this way.
Just stick to the classroom. Where students have no choice, to tune you out.
I am psyched to see this video on youtube's home page / most popular videos page!
Peter Schiff is the first name I refer to when discussing economics with someone. There certainly is a root problem in economic approach in Washington (Keynesian economics) and Schiff isn't afraid to call it out as such. Basically, we can't spend our way out of debt. His basic approach to economics is such a breath of fresh air in these times.
I think the concern with ATM fees is legitimate. For the poor working class, overdraft fees, excessive fees, 29% interest rates, etc are actually a problem. it's taking people who already have no money and pushing them further into debt. if you look into the practices of some banks (Bank of America in particular) it's really atrocious. Leaving it 100% up to the free market is just allowing the already screwed to be further screwed by the system. it's wrong.
So these banks and credit card companies force people not balance their check book (over draft fees) and pay with credit cards (29% interest rates)?
One of my previous banks charged me outrageous fees, do you know what I did? I called them and had them removed...Then they charged even more fees, so I switched banks....Free market competition!
Do you know why credit card debt carries such high interest rates as say compared to cars or homes?
I'm always open to learn, discuss, and change my opinions.
I did exactly as you did. My first bank was BofA, and after getting screwed by them i immediately switched. Wait. That's free market right there! Why doesn't everybody do this? I hear stories every day of people really getting screwed into horrible debt... why!?
I'm not sure why credit card debt has high interest rates compared to cars or homes. Why?
Credit Cards carry much higher interest rates as a result of the necessary "risk premium" to adjust for default risk. Credit cards are unsecured loans, meaning, if you default on your credit card payments, there is little the credit card company can do other than annoy you with calls and report you to the credit bureaus. They have very little real recourse.
However, with auto loans and home loans, each is secured or collateralized with the asset that is borrowed against, ie, Car or House.
In the event that the borrower defaults on a car or home loan, the creditor has the right to claim the collateral offered at the time the loan was taken out. note: Since cars depreciate over time, they carry a higher interest rate than a home, which tend to maintain value or keep up with inflation.
Regardless, the ability to claim the asset, reduces the value at risk in the case of default, thereby reducing the risk premium and therefore interest rate required.
Your federal reserve notes are worthless wake up America!!!! CORPORATE UNITED STATES has been bankrupt since 1933. Turn your TV's off and gain knowledge or continue your ways as a CORPORATE SLAVE. Wounder why your name is always in all CAPS on your bills or your driver license, ssn etc??? Learn about your strawman. How can you have freedom without knowledge????? LOL quit being a slave and gain knowledge. Knowledge is power. Just trying to help. God Bless
Yep, same old trend, dollar rising again today, gold dropping big to $1128/oz, also oil price dropping, markets also falling. Bernanke is trying to raise dollar by his statements but it will be short lived.
Too be honest Peter has part of it right. The USA needs to work back to some form of the Gold Standard, but as long as we are in debt to China any efforts to do so would be useless since the Chinese could simply come in and collect what is theirs. Obama and the Congress screwed us all big time. I think next time I see someone driving in front of me with a bumper sticker that says "Want Change Vote Democrat" I am going to ram their car off the road. As we now know change can be very bad.
Agree 100%+, we're in way over our heads with American imperialism. We do too much of everything that hurts this country and very little of what the people actually need. Look at the State of California for instance, we're in bad shape...we do need change, real CHANGE, not this illusion everyone fell for! RON PAUL 2012!
Well, the eighties are over and obviously our country's attitude of "passing the buck" forward to future generations is "UNSUSTAINABLE". I don't care what your political stance is, I challenge everyone to look at our "Trajectory" when considering this countries economy! We need more production & manufacturing, less consumption, less printing of money, more exporting of goods & services to other countries.
i couldnt agree with you more. But like how you said about were not in the 80's anymore. Your right. Were kinda far beyond the point no return.
I would love to see America make stuff again but its apparent that Americans wont buy it. I owned 2 GM vehicles in my life and now i own a toyota... With all fairness i have never been happier.
Its obvious we cant fall back on old traditions. We need some fresh new ideas. America is not lost, we are bouncing back.
Americans will buy it, that's where you are mistaken. If the quality is good, good craftsmanship and pride in the work & products being produced is there...Americans "WILL" support it & so will foreign countries. We need to think outside the box, so what if our automobiles aren't the world's greatest right now. Surely we could be moving in other directions, creating "different" products. Afterall capitalism is supposed to be about "competition", not gov't sponsored monopolies & duopolies!!!
I suppose... But yeah, Americans need to take pride in their work. Problem is a lot of people dont and frown on the very idea of work. I only mentioned i drive a Jap car now cause after 6 years of owning it, it has never broke down. NOT ONCE. My 2 GM's on the other hand were a nightmare. Plus i like plasma tv's and asian porn.
GM had a great idea in the mid 90's with a chevy VOLT. But then they halted it for SUV's. Now they are just coming to their senses. If they're still here.
The Japanese also began using a lot of robotics first, instead of (human) assembly line workers, which American automobile industry Unions fought against. Robotics eliminates human error, hence, increasing quality, production speed, and the build of each car. What Americans failed to see was the opportunities robotics created, instead of just possibly being out of a job. (Which is essentially where they are at now) The BIG THREE is a sinking ship!
Maclea: you made it seem Bush was better. But I may have misunderstood. To me both are corrupt banking puppets. Obama may even be worse, since at least we knew Bush was lying.
Greed & corruption hasn't even slowed down. U.S. wealth is being destroyed by the greed alone! Diversify your wealth America, don't keep buying shit you don't need. Instead buy gold & jewelery, gold coins, etc... Banks are not our freinds, PAY YOURSELF FIRST!
It's like buying merchandise with cash, keeping the receipt and going back to the store to return it for your money back only to find that the store went out of business, leaving you SOL!
In Canada they only charge you ATM fee, which is $1.50, if you go to a machine that is not owned by your home bank. If you go to an ATM that is owned by the same bank you deal with, it's free. I think this is fair.
Does he say "Uh, fortunately, today (Dec 7) was not nearly as eventful as it was in 1941" or "Unfortunately, today (Dec 7) was not nearly as eventful as it was in 1941."
Gold will reach around 1045 before China and India decides to buy a lot of gold.
Gold is going to go up really fast.
I think this month Gold will get beat up, but when we get the jobless report next month and people find out that all our jobs that we gained have been let go, Gold will again sky rocket.
I'm a gold guy big time but not counting on jobs retracement for 12/09 helping gold. Another blow like Friday and we'll be holding $925 gold. If the jobs do turn bad again, gold has to watch out for big 2008-type deflationary move. The assumption is that if things turn bad, the G will print more $ and gold will benefit. We have to be prepared for the unlikely: things go south BUT THE G REFUSES TO PRINT DUE TO ChiCom threat: = depression. And gold then? I don't know, but nominal price will tank.
What are you talking about? If we get a bad jobs report they will run back to gold. The government will keep on printing money because that is what they do.
I'm told that despite the rise of gold, that the "gold cartel" watchers have shown that one way or the other, nearly every monthly jobs Friday for the past 2 yrs, gold takes a hit. If jobs improve, gold takes a hit because that causes $ to leave gold and bet on recovery; if the jobs get worse, $ still leaves gold for whatever reasons the talking heads put out. Gold has been GOING UP and down with Dow (beating it, of course). If jobs losses go higher, Dow suffers and gold does too, for now.
I agree the G(s) would love to control things with the printing press. However, one of these days SOON, the laws of nature must catch up with us. We already have our "Asian bankers" squirming overseas over the new $ printing in the last yr. How much can we print before forces REALLY threaten to cut off the tit? There's GOT to be a limit. If there is, and our G is forced to say no more or have the markers called in, then what? Taxes and interest rates up, market tanks, gold/cash best?
They picked 1980 because THAT IS WHEN PEOPLE BOUGHT IT THE MOST thank to the gold bubble at the time. Few bought it durring the 70's like few did in the 90's.
GOLD has been an aweful investment and I agree with FOX. Sorry.
There has not been enough gold discovered ever to fill an Olympic swimming pool. Maybe if gold was a million dollars and ounce, maybe. Just an idea, but why not something like copper....
Well...actually....there is plenty of gold and more being mined everyday. Regardless, the supply of gold isn't an issue, if there is not enough to meet demand, the price will go up, if it gets too high, the market will shift to cheaper (less rare) metals like silver, then down the line. Gold isn't an arbitrary metal, there are reasons it is the standard and has been the standard for 5,000 years.
cruiseliner....you are going to have to trust me...gold is still being mined and there is enough gold. if the value of gold rose to levels that made gold too expensive to be used as a moderate store of value, a more common metal would take its place.
supply isn't really an issue. here is why. as the demand rises relative to the supply, the price also rises. this means that it then requires less gold to equal the same amount of value as before. For example, gold is roughly 1200/oz...if the supply of gold remained the same and demand doubled, the price of gold would be 2400/oz, which means you would only need 1/2 oz to equal the same value you had before. as demand contiues to rise, less and less gold is needed to equal that same value.
I fail to understand why you are insisting that Government spending would destroy jobs?
trainspottinglover 1 year ago
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TWSceptic 1 month ago
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@trainspottinglover Because that's money they take away from investors who could otherwise use it to start up or expand business and create new productive jobs.
TWSceptic 1 month ago
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Peter often says "only when consumers start saving can business start investing and start hiring "
Why does it follow that if people save,business' will invest ? thx
as i side note schiff will be a regular on fast money twice a week tuesday and thursday from 5pm EST THIS IS GREAT NEWS;;;and my fast money is that ratrings on these shows will explode...it's a smart move by CNBC and well deserved for Schiff. If only they had done it sooner!
MEXBOL 1 year ago
The thing I don't like at all about Schiff, is he thinks the answer is, instead of raising the wage of our outsourced jobs, he wants to eliminate the minimum wage and bring U.S. wages down to compete w them... think about that.. how could you survive on 50 cents an hr? Basically, his system would put the U.S. people into corporate enslavement.
cervantessssssssssss 1 year ago
learn a trade so that you dont work for other people. nobody owes you a good life you need to earn it.
AntiPsychopath 1 year ago 2
@cervantessssssssssss, That is incorrect. Wages would only normalize if the marginal productivity of the two workers is equal. Nobody would argue that a foreign worker with less training, capital, and technology is as productive as an American worker.
ADONISindeed 1 year ago 2
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If politicians are NOT subject to the same laws as the rest of American citizens then how would they know what it's like to be an AMERICAN?
Go & volunteer for any politician & you would want to quit.
Why are we fighting online as a conservative or liberal?
We've been tricked into thinking they represent us! (dem's & conserv's & independents too)... THEY DO NOT!
They just want your money & your volunteer work.
BramaCity 1 year ago
he's cumming out against toxic ass sex
redcat362 2 years ago
At about 5:09 he says "toxic ass sex."
Sigmund?
twodogswalking 2 years ago
watch?v=73vVEY8zNCE - Schiff is a NEOCON!!! He wants to bomb Iran! Don't support him!!!
tommy6238 2 years ago
@tommy6238 well he is jewish after all.
geocom75 2 years ago
I wonder if Schiffty Pete's call to bomb Iran is connected to his prediction that the price of gold will rise to $5,000 per ounce?
AtlasShruggery 2 years ago 2
peter schiff is so awesome. almost as good as ron paul!
dontdispie 2 years ago
I'll have to disagree and say that Peter Schiff is his own man in his own right and even closer to the libertarian ideal than Ron Paul. Schiff, for example, is 100% pro-choice on everything, as all real libertarians are. He also favors ending the war on drugs. In short, he's willing to emphasize personal liberties as much as economic liberties, and his younger, fresher attitude is more attuned to the defiance of younger voters.
VoteLiberty 2 years ago
He really will be a good senator. There all beaten Dodd in the polls. Yet Linda McMandon is also really good.
cpblackangel88 2 years ago
Why not tax the FED? They claim to be private. :)
UTEPKSC 2 years ago 9
@UTEPKSC they do, there is a portion of tax the FED pays
worldgoingtozero 1 year ago
We should outlaw the sale or intent to distribute gold. Wearing bling (more than a pennyweight) would be: 1st offense, misdemeanor, 2nd offense, felony.
JuanVoyce 2 years ago
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Please watch my videos!! They are funny!! A guy blows Pistachios out of his nose!! Its extreme!!
shotonq 2 years ago
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heyooo check out my channel pwease :) im trying to get started :P
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sayumface 2 years ago
Since he wants to discredit using 1980 as the time frame to prove gold has been a lousy investment I'll give you a true timeframe. If you would have bought $1 in gold in 1802 it would be worth $14 today -- if you would have invested that same dollar in the stock market in 1802 it would be worth $9 million. I'd say that gold has a terrible track record in our countries history.
navykev 2 years ago
Not sure if it makes sense to go before 1971 (U.S. went of the gold standard). Before 1971, for the most of the period, gold was money. The ratio between dollar and gold was fixed.
kolarma1 2 years ago
FIX the Republican party that the Regressive NeoCons destroyed.
Bring back Individual liberty, personal responsibility, limited Federal Gov't, competition between the Free States and competition among the FREE people.
No more Nation Building, No Foreign Intervention, No 700+ US military bases occupying almost EVERY nation on the planet PRODUCING resistance fighters!
No Isolationism (trade not tamper) and keep the giant corporations OUT of the people's pockets by ending Corporatism.
yakyakyak69 2 years ago 6
Very, VERY well said. Agreed 100%
ramtron1775 2 years ago
Regressives (Social-Fascists) ignore the fact that the 9th and 10th Amendments limited the scope of the Commerce Clause and the term Necessary and Proper.
Statists (Democrats, NeoCons and Activist Judges) are Hamiltonians. When read with this understanding, almost everything the Federal Gov't does is Unconstitutioal and that's why Regressives say it is irrelevent.
Read the book: Hamilton's Curse
yakyakyak69 2 years ago
If only he would run as a libertarian...unfortunately linda mcmahon probably has more money going to her she'll probably run against Dodd and hopefully beat his pants off. sorry Schiff. but I really hope Schiff wins I wish he was running California instead of this pussy Republican Arnold Schwarzennager. I hope Schiff becomes big within the next few years and doesn't just stay a you tube sensation. Peter Schiff is the new Ron Paul.
THEREWILLBENOBLOOD 2 years ago
Impeccable logic as usual from Mr. Schiff!!!
I would think the people that do not understand Mr. Schiff's simple and logical explanations, must be lacking intelligents.
End the Fed!!!
thomastholin 2 years ago 3
End the Fed!!!!!!
natureismytemple 2 years ago 4
This comment has received too many negative votes show
this guy rambles on and feeds us garbage for 10 minutes a crappa.
borisbmx 2 years ago
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hihi i uploaded a new pic any guys want to chat and maybe more
SeexyyAmbeer 2 years ago
Although you make some good points. Your solutions are the same OLD same OLD...Get Government of our Back and Cut Taxes...this approach has been done many Times and it the main reason why we are in this mess.
The question should be who were cutting taxes for and regulations that protects from the greedy Wall Street Croaks.
IwanvanEer 2 years ago
Schiff for the Senate, Schiff for the Fed, Schiff for the President of the United States!
focus21x 2 years ago
hrm. say I get a credit card and max it out buying gold, then when gold goes up I'll cash in and pay back my debt plus interest and walk away with the cream off the top.
how stupidly dangerous is this idea? should I do it or never, ever entertain that theory ever again?
NIMHFS 2 years ago 2
Borrowing on the margin is dangerous!
natureismytemple 2 years ago
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Merry Christmas
Jesus Christ Loves Forever Amen blogspot
spread the good message
ToniMaples 2 years ago
I wish we could just get this collapse over and done with so we can get on with life! im tired of hearing about it.
feverpitch82 2 years ago
@MACLEA1987 lol, "general belief" please....
talk facts, not silly unfounded rumors
chrism20 2 years ago
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Tim Gitner said (on Bloomberg 04-12-09) that all the banks could have failed if gov didn't step in. Protest rallys, demonstrations doesn't work, want the troops to come home? Want your voice to be heard hit them were it hurts vote with you feet take your money out of the banks!!
balloo333 2 years ago
People cry about one dollar a week at an ATM. Your correct people should see how much in tax they pay per eight hours of work. I like how the Obama stimulus cost tax payers 240,000 dollars per job created. If a University tuition was 240,000 dollars for four years of school and the average pay was 40,000 dollars per year after graduation, people would cry like they do with ATMs.
DB3D 2 years ago
I hope gold and silver really does get hit hard.
I need more.
Luvanicebum 2 years ago
You are HOT.
AthkrAllah 2 years ago
Bravo
m1kkel2 2 years ago
Bravo
m1kkel2 2 years ago
Heard the news about Citigroup? Going to repay TARP with new stock issues. HAHA! Kuwait's sovereign wealth fund just bailed out of Citi too. NOT A COINCIDENCE! This is a big sign to sell Citi. It's showing Citi does not want the public anger from TARP bailout but is completely flat broke. So what do they do? They wipeout existing shareholders by diluting the stock to worthless. HAHA! Bunch of suckers. Everyone makes a deal with the devil and never learns.
harveybirdmannequin 2 years ago
Go Schiff! I hope you get into office! Go! Go! Go!
artformeandyou 2 years ago
This has been flagged as spam show
Long live king Dollar!!!
IWashMyOwnBrain 2 years ago
Don't know if any of you heard - a Rasmussen Poll shows Peter Schiff beating Dodd at this time. Just got the email about an hour ago from the Schiff Campaign Team.
Pretty cool.
boprn 2 years ago
Hey Peter Schiff. I like the message and have been listening. Maybe at the end of the message you could tell a little joke or something. With all the bad news that has to be mentioned, we need to be cheered up afterward.
cooperbry 2 years ago
Peter Schiff IS the joke.
1. 'Gold is great' : As much as iron, copper, timber or platinum. Warren Buffett, who beats Schiff any day has sensible ideas on the futility of long term gold.
2. a) 'ATM fees are trivial' : Incorrect.
b) The poor aren't hurt by it: Shows exactly how out of touch Schiff is with Main Street.
3. 'The Free Market' : Its an oligopoly in banking, no FM. Transaction costs have dropped with technology, but fees are up.
4. 'Govt. is bad': No. But, Bush proved it.
spicerer 2 years ago
@spicerer Warren Buffett is a fucking selfish hack who destroys American Jobs. Look at what he did to Budweiser. In fact Warren Buffett has invested so much into Chinese firms and helped foreign investors buy out American Companies the man should be fucking shot on sight!!!
MACLEA1987 2 years ago
@MACLEA1987 : And I assume Schiff is a magnanimous, altruistic, genius who's got the perfect deregulated, capitalistic, free market idea to spur American employment. At least Buffett (despite being the world's richest man), has the honesty to declare that we need higher tax rates on the rich.
Just a reminder that it was Schiff's type of ideas that reigned the last 8 years under Republican admin and look how well that worked out.
spicerer 2 years ago
What? Wow you have no idea.....
narutofan1108 2 years ago
Check out my freestyle!!! add me!!!
RappingIsThePriority 2 years ago
In all seriousness, why is gold held in such high regards/value? Why not something like tulip bulbs or acorns? What is it about gold,a mineral,that makes it so valuable? Think about it!
albermarle19 2 years ago
Let's say the impossible happens and we return to a sound dollar, would that make gold a commodity bubble? BTW great book Mr. Schiff and I hope you win the Senate seat.
DarthByss 2 years ago
As for the "$1 ATM fee" comment, its not the Fee that screw people, its the overdraft fees that kill ya... and the fact that they will allow you to overdraw your account when they know you don't have the funds. Often they tend can withdraw the money almost instantly but deposits take a few days to get on the books.
Legal Scamola.
xetlive 2 years ago
Ahhh, the cash machine
alonelychild 2 years ago
In a fiat world, Ben bernanke is GOD!
He can do anything, they can change accounting rules, they can be the final stop for the toxic assets and take the loss and write them off into thin air!
Why worry about nonpayment when you have the unlimted access to free money!!!!
GOD! make me Fed Chairman next time,OK!
madhuradi 2 years ago
Yes this is why the U S went off the gold standard so they could controll the dollar therefore controll the world economy. Print More Money.
IWashMyOwnBrain 2 years ago
PETER SCHIFF for Senate 2010 !!!
iannetta11 2 years ago 2
What your speaking about is common sense. The problem is.... No one cares. How do you think we got to be this screwed up to begin with.
People don't care about the Constitution. They don't care how right you are and you'll have plenty of people come up with Bologna to
"disprove" you.
The reality is, your a independent thinker and the MAJORITY of America isn't. I really want to believe there is a fundamental basis for Constitution and common sense in American. Unfortunately there isn't.
U4TSAF2 2 years ago 3
We are not screwed up. The constitution is great. The majority is a group of independent thinkers you disagreeing with them does not change that fact.
IWashMyOwnBrain 2 years ago
If you are a Democrat that voted for anything the rest of the Democrats vote for then you need to be voted out of office next year.
TheNewVideo 2 years ago
But replacing them with the establishment Repubilcans is no better and if anything worse in a lot of ways. Have you forgotten Bush? The status quo of both parties need to be rejected. Libertarianism needs to rise.
DaveIrie 2 years ago
Google
"American Monetary Act"
and
"Monetary Reform Act"
sachacarlo 2 years ago
Looks like a good time to dump some of your old gold jeweler you have if it's just been sitting in jewelry boxes collecting dust
DillonX 2 years ago
what´s an atm? I´m not american, that´s why I´m asking
alonelychild 2 years ago
@alonelychild,
your question is enough to justify that you are not an American...LOL
swastikstar2000 2 years ago
An ATM is an Automated Teller Machine (ATM). You put your debit card (usually from your checking account) into the machine, enter your Personal Identification Number (PIN) and then choose an amount of cash you would like to withdraw
AgentMikeScott 2 years ago
automatic teller machine. they dispense dollars.
OpenYourMindQuaid 2 years ago
Hi Mr. Schiff
What is your oppinion od the American Monetary Act (by the American Monetary Institute) and the Monetary Reform Act (by Patrick Carmack)?
(Government issued non- interest bearing fiat-money spent into circulation (by the government) ; 100%-Reserve requirement for privat commercial banks)
sachacarlo 2 years ago
I totally agree with Schiff's analogies and the potential of total economic collapse. However, it is very possible that Obama will prove them all wrong. The FED can literally postpone the depression for years, as long as China and other countries cooperate. I think it's very possible that Obama can create a fake recovery that can manipulate the recession as officially over. The general public knows no difference and bodes well for an easy re-election in 2012. IMO.
aspenmogul 2 years ago
According to Tyler Durden: "A lot of speculation surrounds the recent announcement by Barrick Gold to raise $3.5 billion in equity to finance buy-backs of its gold hedges. "
How does the common gold investor KNOW FOR A FACT that they have legit Gold, if they haven't taken delivery?
Trust?
Is it possible that ETF's and other Gold derivatives could be backed with these salted bars or none at all?
Are the Gold mining companies (Barrick) selling Gold they haven't dug out of the ground?
eyewitness043 2 years ago
This comment has received too many negative votes show
Is it just me or does Peter Schiff look like Satan in this video?
fawnknudsen 2 years ago
The USA's economy has gone beyond insane. Bernanke still will not raise rates and both him and Obama admit that all that money spent is still not producing a recovery. Big surprise they gave everything to the banks. Now Obama wants $200 billion leftover from TARP for a mini-stim package. First you should be outraged that they took more money than needed and did so by scaring the public. Give it back to the people. Split the money and write everyone a cheque. Don't give it to the banks again.
harveybirdmannequin 2 years ago 2
wont raise interest rates? because unemployment is at 9.8% and expected to still rise further. raising the interest rate right now would shift further shift aggregate demand, and further harm employment and gdp
nikhilmalik62 2 years ago
Yeah, that's exactly the point. If you DON'T raise interest rates now the malinvestments will continue to accelerate and the end result will be worse than the great depression.
soylentgreenb 2 years ago
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bossesboss1 2 years ago
thanks
SexCyberGuideCom 2 years ago
My only question is....if gold is such a good investment....why are so many people trying to sell it? I see and hear a million different ads trying to get people to invest in gold. If its going to be such a great investment.....why would the current holder of it want to sell it? It doesnt make much sense to me. Maybe someone has some insight
guard0544 2 years ago
Those that are selling it make a premium on the market price of gold, they aren't liquidating their positions in gold. If a gold exchange company is able to sell $1 Million per week in gold and they make an 8% profit for every dollar they sell, they will make a profit of $80k. So if they move all of the gold, they will have $1.08M after the first week. If they can continue this every week, they would make roughly $4M in profits for the year.
mayt7 2 years ago
They are in the buisness of selling gold and since they make a profit for the transaction, it is in their best interest to sell it. All the while they could be investing the profits in more gold or diversify in other assets to make a more well rounded portfolio
mayt7 2 years ago
You are starting to see the light. If I want to sell somthing to you I will tell you its a good time to buy it. The IMF is selling its gold to Asia when that is done watch the dollar rise and gold fall. When I saw ads on tv selling gold clad coins for $19 that was screaming top of the market to me. Its a fad.
IWashMyOwnBrain 2 years ago
You need to go to your community college and take economics 101. three credits, one semester. trust me , you'll learn a lot. you need it bad.
polos505 2 years ago
Yeah, income tax is bullshit!
Shaunt1 2 years ago
listen, if I want to buy a churro...because I feel like eating a churro....and that is all the money i have left in my pocket...I will get that churro.... I love churros man.
soooo?
thecruiseliner 2 years ago
yeah but if you ever want to cash in....there has to be buyers to buy your "piece of paper" ( what you call gold).
and if gold is too expensive, or not enough of, or not attractive anymore ( since you want to sell ) than you are screwed. hahaha
thecruiseliner 2 years ago
If people didn't want to pay an ATM fee they wouldn't use one. How about planning your finances for the week a little better. People are paying for convenience, they don't want to travel the extra mile or wait another day for their cash. If a bank charged $100 -DON'T USE IT!
2uberu 2 years ago
Exactly thats how a free market works. The government keeps getting in the way.
IWashMyOwnBrain 2 years ago
whoever sells gold....also keep printing your paper certificates.....you bought a piece of paper....NOT GOLD
thecruiseliner 2 years ago
way off on atm's try 2.75 to 3.00 and alot more that just once a week what world dose he live in a bankers?
MarkSharpe123 2 years ago
Who ever bought gold....
I dare you to ask for it,....see if you can actually get your gold ....store it in your closet, ( not in the casinos of wallstreet ) and not in Peter's bank accounts.
If people would cash in and get their gold. do you think there would be enough gold outhere to sent it to you? you would also put them out of business....why? cause there ain't enough....
you bought a piece of paper !!!!
thecruiseliner 2 years ago
You can buy real gold and have it deliverd to you....which is what most recommend including Peter Schiff.
You are right though, gold certs are only paper. They can be used as an inflation hedge, but if S@#$ hits the fan, don't count on claiming your gold with a receipt and don't count on anyone wanting your piece of paper other than using it for toilet paper.
mayt7 2 years ago
I am sorry, Peter, if you would not keep trickng people about gold I would be able to tolerate the tone and scritching annoying sound of your voice.
Like the kid that always keeps running his mouth, even when the issue is over.... is like that asshole at a party that just cant seem to shut up.....as I said. sorry buddy. but you are annoying as heck....P.s. I am sure there are many people that feels this way.
Just stick to the classroom. Where students have no choice, to tune you out.
thecruiseliner 2 years ago
I am psyched to see this video on youtube's home page / most popular videos page!
Peter Schiff is the first name I refer to when discussing economics with someone. There certainly is a root problem in economic approach in Washington (Keynesian economics) and Schiff isn't afraid to call it out as such. Basically, we can't spend our way out of debt. His basic approach to economics is such a breath of fresh air in these times.
LJPpro 2 years ago 3
Lunch Lady Safari, watch this viral video!!!!
Tosswallyproductions 2 years ago
This guy is getting paid to say this!
David21Paul 2 years ago
please, tell who is paying him. cite your source, or be considered ignorant. :)
thecapnmonmon 2 years ago
Hes a gold salesman thats his job.
IWashMyOwnBrain 2 years ago
okay, what company?
thecapnmonmon 2 years ago
This comment has received too many negative votes show
Who voted for this guy? Shame on you!!!!
David21Paul 2 years ago
This comment has received too many negative votes show
He should read MATT TAIBBI's recent article in Rolling Stone Magazine!!!!!!
David21Paul 2 years ago
What a dumbass blah blah go jump of a bridge you lier.
JoseNava209 2 years ago
the d-bag report
richardmulroy 2 years ago
U got all these people believing u know what ur talking about. Ha!
5tallcoolone 2 years ago
Go on WPLR Chaz and AJ in the morning. Large audience and free publicity with two right leaning hosts.
1974wolfman 2 years ago
Great video,
but-
I think the concern with ATM fees is legitimate. For the poor working class, overdraft fees, excessive fees, 29% interest rates, etc are actually a problem. it's taking people who already have no money and pushing them further into debt. if you look into the practices of some banks (Bank of America in particular) it's really atrocious. Leaving it 100% up to the free market is just allowing the already screwed to be further screwed by the system. it's wrong.
asphyxiafeeling 2 years ago
So these banks and credit card companies force people not balance their check book (over draft fees) and pay with credit cards (29% interest rates)?
One of my previous banks charged me outrageous fees, do you know what I did? I called them and had them removed...Then they charged even more fees, so I switched banks....Free market competition!
Do you know why credit card debt carries such high interest rates as say compared to cars or homes?
mayt7 2 years ago
That is a very good point, mayt7.
I'm always open to learn, discuss, and change my opinions.
I did exactly as you did. My first bank was BofA, and after getting screwed by them i immediately switched. Wait. That's free market right there! Why doesn't everybody do this? I hear stories every day of people really getting screwed into horrible debt... why!?
I'm not sure why credit card debt has high interest rates compared to cars or homes. Why?
asphyxiafeeling 2 years ago
Credit Cards carry much higher interest rates as a result of the necessary "risk premium" to adjust for default risk. Credit cards are unsecured loans, meaning, if you default on your credit card payments, there is little the credit card company can do other than annoy you with calls and report you to the credit bureaus. They have very little real recourse.
However, with auto loans and home loans, each is secured or collateralized with the asset that is borrowed against, ie, Car or House.
mayt7 2 years ago
In the event that the borrower defaults on a car or home loan, the creditor has the right to claim the collateral offered at the time the loan was taken out. note: Since cars depreciate over time, they carry a higher interest rate than a home, which tend to maintain value or keep up with inflation.
Regardless, the ability to claim the asset, reduces the value at risk in the case of default, thereby reducing the risk premium and therefore interest rate required.
mayt7 2 years ago
he make sense that's why he can't win, how can one sensible guy can be in government
dream2last 2 years ago 4
Mr. Schiff, your advice is right on the money, pun intended, as usual... keep telling them like it is..
geezernweiser 2 years ago
You're the best...around, nothing's gonna ever keep ya down!!!
watch?v=-Qae_TUTeGo
MrNeo2001 2 years ago
Comment removed
sachacarlo 2 years ago
Comment removed
sachacarlo 2 years ago
Comment removed
sachacarlo 2 years ago
Great video. Keep it up Peter!
MarchHare2009 2 years ago
i like this guys logic and pure hearted attitude.
CiscoNast 2 years ago 2
If you want invest in sone thing that will out last every thing on earth ?
Then Invest in GOD go to church and Pray for others, and give to the poor, and do good works .
This will do more for you than any gold or stock !
BishopTimothy W Price : AKA ZZTWP :
zztwp 2 years ago
Your federal reserve notes are worthless wake up America!!!! CORPORATE UNITED STATES has been bankrupt since 1933. Turn your TV's off and gain knowledge or continue your ways as a CORPORATE SLAVE. Wounder why your name is always in all CAPS on your bills or your driver license, ssn etc??? Learn about your strawman. How can you have freedom without knowledge????? LOL quit being a slave and gain knowledge. Knowledge is power. Just trying to help. God Bless
grunttech 2 years ago
Yep, same old trend, dollar rising again today, gold dropping big to $1128/oz, also oil price dropping, markets also falling. Bernanke is trying to raise dollar by his statements but it will be short lived.
mechanicalengineer3 2 years ago
Too be honest Peter has part of it right. The USA needs to work back to some form of the Gold Standard, but as long as we are in debt to China any efforts to do so would be useless since the Chinese could simply come in and collect what is theirs. Obama and the Congress screwed us all big time. I think next time I see someone driving in front of me with a bumper sticker that says "Want Change Vote Democrat" I am going to ram their car off the road. As we now know change can be very bad.
MACLEA1987 2 years ago 2
What "change"??? Obama didn't change anything. Obama continues Bush's policy, printing spending printing spending.
commonsense2008 2 years ago 4
Agree 100%+, we're in way over our heads with American imperialism. We do too much of everything that hurts this country and very little of what the people actually need. Look at the State of California for instance, we're in bad shape...we do need change, real CHANGE, not this illusion everyone fell for! RON PAUL 2012!
MrNeo2001 2 years ago
You can thank Reagan for turning everything over to capitalism and wall street.
VAR1UM 2 years ago
Interesting comment. Why do you say that Var?
badonkadonk34 2 years ago
Well, the eighties are over and obviously our country's attitude of "passing the buck" forward to future generations is "UNSUSTAINABLE". I don't care what your political stance is, I challenge everyone to look at our "Trajectory" when considering this countries economy! We need more production & manufacturing, less consumption, less printing of money, more exporting of goods & services to other countries.
MrNeo2001 2 years ago
@MrNeo
i couldnt agree with you more. But like how you said about were not in the 80's anymore. Your right. Were kinda far beyond the point no return.
I would love to see America make stuff again but its apparent that Americans wont buy it. I owned 2 GM vehicles in my life and now i own a toyota... With all fairness i have never been happier.
Its obvious we cant fall back on old traditions. We need some fresh new ideas. America is not lost, we are bouncing back.
VAR1UM 2 years ago
Americans will buy it, that's where you are mistaken. If the quality is good, good craftsmanship and pride in the work & products being produced is there...Americans "WILL" support it & so will foreign countries. We need to think outside the box, so what if our automobiles aren't the world's greatest right now. Surely we could be moving in other directions, creating "different" products. Afterall capitalism is supposed to be about "competition", not gov't sponsored monopolies & duopolies!!!
MrNeo2001 2 years ago
MrNeo
I suppose... But yeah, Americans need to take pride in their work. Problem is a lot of people dont and frown on the very idea of work. I only mentioned i drive a Jap car now cause after 6 years of owning it, it has never broke down. NOT ONCE. My 2 GM's on the other hand were a nightmare. Plus i like plasma tv's and asian porn.
GM had a great idea in the mid 90's with a chevy VOLT. But then they halted it for SUV's. Now they are just coming to their senses. If they're still here.
VAR1UM 2 years ago
The Japanese also began using a lot of robotics first, instead of (human) assembly line workers, which American automobile industry Unions fought against. Robotics eliminates human error, hence, increasing quality, production speed, and the build of each car. What Americans failed to see was the opportunities robotics created, instead of just possibly being out of a job. (Which is essentially where they are at now) The BIG THREE is a sinking ship!
MrNeo2001 2 years ago
@commonsense2008 Why do you think I want to ram their vehicle off the road?
MACLEA1987 2 years ago
Maclea: you made it seem Bush was better. But I may have misunderstood. To me both are corrupt banking puppets. Obama may even be worse, since at least we knew Bush was lying.
commonsense2008 2 years ago
Great posts, great video, keep putting the videos out. Chris Dodd literally caused the downfall, just remind everyone of that.
papavalium 2 years ago
Again the dollar goes up, stocks fall. The problem is still there we are just experiencing this month the opposite of the last few months.
It will be short lived.
Vunks2000 2 years ago
Greed & corruption hasn't even slowed down. U.S. wealth is being destroyed by the greed alone! Diversify your wealth America, don't keep buying shit you don't need. Instead buy gold & jewelery, gold coins, etc... Banks are not our freinds, PAY YOURSELF FIRST!
It's like buying merchandise with cash, keeping the receipt and going back to the store to return it for your money back only to find that the store went out of business, leaving you SOL!
MrNeo2001 2 years ago
In Canada they only charge you ATM fee, which is $1.50, if you go to a machine that is not owned by your home bank. If you go to an ATM that is owned by the same bank you deal with, it's free. I think this is fair.
partyhouse88 2 years ago
High fives Peter!
CTOL1 2 years ago 3
As for atm fees! I hate them!
ezze902 2 years ago
Ahhhh... the 70s..... *sigh*
partyhouse88 2 years ago
Does he say "Uh, fortunately, today (Dec 7) was not nearly as eventful as it was in 1941" or "Unfortunately, today (Dec 7) was not nearly as eventful as it was in 1941."
I hope it's the former.
NuttyHiker 2 years ago
The former, obviously.
audioX1 2 years ago
lol I doubt it was the latter, he doesn't strike me as a Eugenecist Bankster type :-)
FireZeus 2 years ago
I guess asking for clarification is forbidden - my comment was erased. :-/
I had never heard of him before so I wanted to get an "angle" on who/what he is; I guess that now I know!
NuttyHiker 2 years ago
Oh, it wasn't erased - I couldn't see it because of the thumbs down.
Children.
NuttyHiker 2 years ago
Thanks for the SchiffFix, Peter. Great videos! Keep it up! Vote Schiff!
stopshoutingatme 2 years ago 2
I love the fact that the mainstream media is bashing gold. It keeps the price lower so I can buy MORE before the price goes to the moon.
kja5 2 years ago 2
Gold will reach around 1045 before China and India decides to buy a lot of gold.
Gold is going to go up really fast.
I think this month Gold will get beat up, but when we get the jobless report next month and people find out that all our jobs that we gained have been let go, Gold will again sky rocket.
Vunks2000 2 years ago
I'm a gold guy big time but not counting on jobs retracement for 12/09 helping gold. Another blow like Friday and we'll be holding $925 gold. If the jobs do turn bad again, gold has to watch out for big 2008-type deflationary move. The assumption is that if things turn bad, the G will print more $ and gold will benefit. We have to be prepared for the unlikely: things go south BUT THE G REFUSES TO PRINT DUE TO ChiCom threat: = depression. And gold then? I don't know, but nominal price will tank.
teller121 2 years ago
What are you talking about? If we get a bad jobs report they will run back to gold. The government will keep on printing money because that is what they do.
Vunks2000 2 years ago
I'm told that despite the rise of gold, that the "gold cartel" watchers have shown that one way or the other, nearly every monthly jobs Friday for the past 2 yrs, gold takes a hit. If jobs improve, gold takes a hit because that causes $ to leave gold and bet on recovery; if the jobs get worse, $ still leaves gold for whatever reasons the talking heads put out. Gold has been GOING UP and down with Dow (beating it, of course). If jobs losses go higher, Dow suffers and gold does too, for now.
teller121 2 years ago
I agree the G(s) would love to control things with the printing press. However, one of these days SOON, the laws of nature must catch up with us. We already have our "Asian bankers" squirming overseas over the new $ printing in the last yr. How much can we print before forces REALLY threaten to cut off the tit? There's GOT to be a limit. If there is, and our G is forced to say no more or have the markers called in, then what? Taxes and interest rates up, market tanks, gold/cash best?
teller121 2 years ago
well said my frined
iGotThaMunchiez 2 years ago
Thanks, Friend, for posting this.
Please, see my page under comments section and connect the CAIR dots. We finally have proof and it certainly explains a lot.
Documents do not lie!
Please, see my comments section for plan.
Thanks.
Merry Christmas & Happy Holidays!
JPK7777777 2 years ago
You better hope the DOW goes up as it seems that's the only time Gold goes up now.
DillonX 2 years ago
It's like President Obama is trying to be a one-term president. Maybe the job is that bad.
Melville10 2 years ago
They picked 1980 because THAT IS WHEN PEOPLE BOUGHT IT THE MOST thank to the gold bubble at the time. Few bought it durring the 70's like few did in the 90's.
GOLD has been an aweful investment and I agree with FOX. Sorry.
Ineedtoshortenmyname 2 years ago
Don't need to apologize, because you are clearly wrong.
TheGreatPenetrator 2 years ago
gold is not an investment. it is a store of wealth when fiat fails.
viehe69 2 years ago 3
Dont give banksters million dollar bonuses.
Pay them in toxic assets.
Bonuses in toxic assets, and yearly par in toxic assets.
Now that sounds good ^_^
NicosMind 2 years ago 3
Las Vegas , NV needs Peter Schiff. Great jub Peter! If you open up an office in Las Vegas I would be more then willing to work for you! .
misformarty 2 years ago
No one has discouraged China or India away from gold!
BrainBuggered 2 years ago
Peter great analogy with the Continental.
VictoryCough 2 years ago
whoho im the 10,000th view!
vegaspilot03 2 years ago
Not enough gold for gold standard, same with silver
chrism20 2 years ago
why do you think so?
its not enough for 35$ an ounce, but maybe 10000 an ounce, i dont know the exact numbers.
Krampfarsch 2 years ago
There has not been enough gold discovered ever to fill an Olympic swimming pool. Maybe if gold was a million dollars and ounce, maybe. Just an idea, but why not something like copper....
chrism20 2 years ago
Well...actually....there is plenty of gold and more being mined everyday. Regardless, the supply of gold isn't an issue, if there is not enough to meet demand, the price will go up, if it gets too high, the market will shift to cheaper (less rare) metals like silver, then down the line. Gold isn't an arbitrary metal, there are reasons it is the standard and has been the standard for 5,000 years.
mayt7 2 years ago
actualy there is not enough. and it is not being mined. But the cert for gold are defenetly sold...even though the gold is not there to back it up.
it is a scam.....you just have a piece of paper....
and no Peter does not say to have your gold delivered to you..
thecruiseliner 2 years ago
cruiseliner....you are going to have to trust me...gold is still being mined and there is enough gold. if the value of gold rose to levels that made gold too expensive to be used as a moderate store of value, a more common metal would take its place.
mayt7 2 years ago
simple, buy physical gold and not ETF's. You can buy bullion coins in any coin shop in the world.
viehe69 2 years ago
Supply is the issue dumbass, that's the whole argument......
Everything you said is superficial and wrong, I'm not even going to bother...
chrism20 2 years ago
supply isn't really an issue. here is why. as the demand rises relative to the supply, the price also rises. this means that it then requires less gold to equal the same amount of value as before. For example, gold is roughly 1200/oz...if the supply of gold remained the same and demand doubled, the price of gold would be 2400/oz, which means you would only need 1/2 oz to equal the same value you had before. as demand contiues to rise, less and less gold is needed to equal that same value.
mayt7 2 years ago