mmmm what I don't understand is that if Peter believe that paper money will become worthless or in in the best case will lose a lot of value due to inflation how is he selling silver/gold ("real wealth") for dollars "worthless paper"? I don't really understand that....... The people that are going to make a lot of money on this are the gold dealers and sellers not the buyers just like it happened with the housing market only the realtors made tons of money and the buyers got a foreclose.
I commented when this video first came out and said that Peter is not good at short-term calls. He said that gold is establishing a bottom when this video came out. Look what happen the past couple of days. I will buy more gold soon, but I knew that Peter was off on this one.
Yeah fortunately we're not back on that nasty wealth protecting, currency protecting gold standard. You know, back in the day when America created the foundation to all of its prosperity, back when we were a skyrocketing manufacturing powerhouse, back when we were the envy of the entire planet, back when our innovations outpaced everybody, back when we still produced wealth, back when the middle class actually had a chance at forward progress. Back when children could expect a better future...
@Caturdayz you don't have dollars is good because you have nothing to loose. but on serious note, do not take loans. don't let your own future pay for present.
If anyone contends there must be a government run financial backstop to banks - ergo, a Fed - then where do you stop? How about a too big to fail Federal money printing backstop and liquidity agency for Florsheim? After all, we must all have shoes, right?
We have always and will always have shoemakers because they act prudently or die. Banks should too. Eliminating the corrupt Fed would yield such sanity. No stupidity without their moral hazard backstop - or they would perish. As they should.
The United States financial worth is 280 Trillion dollars keeping this in mind only leads me to believe that our Goverment will do as Peter Schiff says which is print more money driving up the price of Gold and Silver. A 14 Trillion dollar debt is all most nothing compare to 280 trillion worth,lots of room for printing.It's always easyier to take than to pay back.
Gold has been money for thousands of years and it's the only physical asset central banks save and its not because of "tradition". youtube.com/watch?v=6-I1mugY5Ds The moment you figure that out is the moment your life changes for the better.
@davincij15 mr. 15 what really "changed" my life after 58 years was the realization that
my "physical asset" was myself as a individual human, the rest is just loose change, no pun intended. thank-you for your reply sir. Oh yea, people have been wrong about a lot of things for thousands of years. I still like silver because I have fear
The bell is ringing but gold and silver will take a hit because the central banks want to do QE3 so they will need another 2008 liquidity crisis and hit the price of the PMs. The charts show silver is in a down trend so Chase will make sure that it stays there for as long as they can.
If a lot of people purchased PHYSICAL gold and silver the price WILL not go up. Prices have nothing to do with supply and demand of the metal only supply and demand of paper contracts.
If world currency defaults and we return to the Gold standard, it will sky rocket ten fold in a couple of days and, another ten fold, by the 7th day! The world banking systems are keeping the true value of gold demand undervalued. China now controls 10% of the planets gold reserve!
Why?.
To give you an example:-
Greece’s present gold reserve* only represents €5.1 billion >1% of its present €500+ billion bond debt. Do your math.
You mean a cube that is 20^3, the cube you describe would be a mere 70 foot block. This is a very common mistake, infact you will find it misrepresented as 20m many more times then you find it properly counted as 20m^3
Wait to see how much more the dollar will fall if we don't send Obama packing! Time is ticking so let's not forget in 2012 at the polls what got us here and vote for freedom and capitalism by voting out the so called Liberals.
Let me know which gold mine you think it cost $400 an ounce to get gold out of the ground, then I will give you the real number for that specific mine. Funny that you compared oil prices to gold prices, because that just brings up the point of speculation (ignoring the fact that we destroy the oil after we extract it, ). Most geologist will tell you there is 19,300 kg/m^3, that is enough gold to cover our entire planet (including oceans) with an almost 2 feet thick gold coating.
In the most costly environment for gold extraction it cost around $200 an ounce to get it to market. However, most can get it out of the ground and to market for less than $100 in today’s US currency market. So yes I have a fairly good idea of how rare and how costly gold actually is. I tend to hold foreign currency. There is plenty of room for profit, but more importantly, it is much easier to assess what a specific currency will be worth 5 years from now. You can't do that with gold.
OUR GOV DID 911... THEY LEFT A LOOSE END...THE ACARS SYSTEM ON THE PLANE WAS STILL TRANSMITTING SIGNALS WHEN THE PLANES HIT THE TOWERS, BOTH FLIGHT 11 & 175, IN A DIFFERENT STATE! OUR GOV KILLED ALL THOSE INNOCENT PEOPLE! TO ALL THE PEOPLE THE GIVE TRUTHERS A BAD WRAP OR SAY THEY ARE JUST NUT JOBS, GO LOOK AT YOUR SELF IN A MIRROR AND SAY, I WAS WRONG, OUR GOV DID DO 911, I AM PART OF A COVER UP AND I PLAYED MY PART BY THWARTING PEOPLE OFF FROM SEARCHING FOR THE TRUTH!
Again I said nothing about interest rates. I was talking about commodities being released. They have done it half a dozen times in the past to very great effect. Interest rates can be changed to stop inflation of paper currency, but right now inflation is the best course of action they have. Set that aside, a gold release like the one in 2004 (or to even greater effect 1869) will strip wealth from the people who are holding that commodity and transfer it back to the government.
Metals are one of the easiest commodities to do this with, and that’s why they utilize metals like gold and silver. When investors start trying to convince the masses to take "Physical Delivery" that is because they are trying to make sure they have time to react when the market is flooded, not because they think it's a good idea for you to keep Silver and Gold so you can by bread with it. They don't care if you can eat.
PS is Begging I mean selling people gold for what he Calls "Worthless pieces of Paper"! LOL He doesn't mind taking your worthless $'s in exchange for a certificate stating that you own physical Gold half way around the world in Perth Australia! Good for him that he can find naive people and profit from them while he preaches Doom and Gloom! Unreal!
@orionstarman You better Hope to what ever God you prey to that EZ Prints there ass off and we don't fall into a Deep Global Deflation. Because that Gold and Silver Will not be Worth the Toilet paper you Wiped your ass with today!
BTW Let me Quantify something else for you! Gold Inflation Adjust is still down 75% since 1980! Those that Bought and Held since will hopefully get their money back in about 46.5 Years from now. I Used the word "MAYBE" Mind you! ROFLMAO!
I guess we can all just hope that the government doesn't decide to use the same tactics they used in 1869 to stabilize the fiat currency in comparison to commodities like gold; though it almost certain they will since it is the exact same tactic they've always used after they inflate.
I said nothing about paper assets. I simply pointed out gold is a commodity, and there are no guaranties in the commodities market. I would like to point out most of the people who are saying you should buy gold, are trying to sell it to you.
I think your statement would be more accurate if you said commodities help protect wealth. Gold is a commodity; it will not always "preserve your wealth".
buy gold as in taking physical possession of it. other wise it can be seized. it can be put into a "Trust" and basically taken from you. Gerard Clamente is suffering this reality right now along with about 2thousand other american Gold 'investors"
$1700 for gold? But... but... I'm poor. I can't afford that! I can barely pay my bills, how am I supposed to buy gold at $1700! Can I buy like a sand grain of gold?
You can easily buy call options on gold if you don't have much money to invest with and/or if you want the highest exposure...an expiry of 6 months to 1 year should return a nice profit, if the dollar/euro ball continues rolling downhill in Europe and the US, as Schiff is predicting.
I dont know what to think opf Peter Schiff. I know about precious metals and I agree they are great, but he pushes them too much it makes me feel he has a vested interest in getting you to buy.
But common sense tells you that gold & silver have been worth something for thousands of years, fiat cuirrencies come and go.
So is money also ! So what do you suggests come after money!?
Gold has been use as payments for over 2,000 years and have historically alway won and what should be the skill of this time when the "pressmachine time" is over! If you read the history of money and gold you will see, ithis is not the first time !
@ManNorthern Useless like... totally. If you happen to have a trunk of it that was acquired when it was $35/oz, I'm sure you believe it's useless. You clearly have minimal understanding of inflation or currency valuation.
like see people eat there gold and silver all that is worthless all money is a lie means of controll stop thinking that is what life is about when you die it doesn't mean s^^t
yes, and we all know who has all the gold. It's the same psychopathic bunch who owned it all along and who invented it in a first place as a store of "their" value to rob the sheeple blind. So, all the sheeple out there, buy gold and start "making the rules!!! " ... until it's either heavily taxed or simply confiscated from you again, oops...
@linkerbaan gold isnt meant to save the world its meant to preserve wealth because paper notes are not going to provide the service anymore. tulips DO NOT retain value because it is perishable, gold and other precious metals can. stop using analogies to prove a point when you dont even understand the inherent difference between precious metals and organic matter.
"He who owns the gold makes the rules." Isn't that the basis of the Rothschild strategy to dominate the world - in a nutshell. We get the bonds - they got the gold.
Protocol 22 " IN OUR HANDS IS THE GREATEST POWER OF OUR DAY - GOLD"
@rizwan1983 GLD is a good way to trade gold but there are too many claims on the gold. it basically does fractional reserve lending itself. GLD is good to trade electronically, sell highs, buy low, but physical gold is what your going to want for long term.
All you will really know in the near future is BARTER, because all of those with Gold and silver will need to hire others to handle all of their transactions, because the truly 'wealthy' will be those who are not afraid to face the light of day.
@chroNick546 I can't seem to find reliable information online. Just like you can't find reliable information about the economy anywhere except by subscribing to this channel.
I do not have access to physical gold so my choices are limited.
Thanks for nothing though. If you aren't bothered to type anything in then you needn't have replied.
@rizwan1983 It depends how paranoid you are. If you believe in some kind of financial Armageddon scenario then you will want to have the actually physical gold stored somewhere you can get your hands on it. Personally I'm Canadian and I invest in CEF.A which is sort of similar to and ETF. They hold physical gold and silver. I think things will get bad with high inflation and whatnot, but I don't quite see myself living in a bunker.
@miramichi30 LOL....paper gold is just as good as NO gold. Most of these institutions dont have the physical gold to deliver. They are just playing the same Ponzi scheme they did with the dollar, but now an "I owe you" for gold.
Look at MF Global. They STOLE all their customers savings and futures and ran off with $3Billion worth of regular working peoples money. Be warned, paper gold is toilet paper!
@agenthelios1 its now over 4 billion and growing...the system is falling apart and THEY DONT HAVE THE METAL TO DELIVER!! if you cant touch it you dont own it
@miramichi30 when shit hits the fan it will be arrmegedon like you cant imagine. Just look how people act like such savages for saving $2 on a fucking waffle iron at walmart on black friday. Imagine when its for the last of the food in the store and its $20 for a loaf of bread....thats when people will get shot and loot and society will crumble apart
well the debt now exceeds 100% of GDP, so any printing now will throw the %age number up quite a bit which will make the factor for yearly inflation targets less efficiently calculable for Bernanke. I don't think hyperinflation will hit in the near term but long term i think its much closer than ever before. I say within two years or one if really careless. Next years budget will really tank the situation.
worth is determined by marginal valuation, that is valuation done by an actor on the margin - if that happens to be in desert - yes water migght be higher, if done when choosing what to hold wealth in, probably gold
So......in the near future, say whne everyone with half a clue buys gold........then a new currency is created (maybe) and governments around the world begin outlawing gold (again as they have done in the past) what will happen to everyone's gold values
@dobberdoss My opinion, when they call the bank holiday and announce the "compulsory emergency buyback" of gold (or something along those lines), they will crush golds spot price to make everyone panic into selling their gold. When they have all the gold back in they will announce the new "backing" of the US dollar (I believe it will be backed by a basket of commodities, 10% gold, 10%silver 10%etc etc). When the banks reopen, you will see golds spot price somewhere north of $3000 per ounce. imho
Ok, so when you see that happening? 2 years? 5 years.........Like your basically saying Governments can fuck a market no matter what the base commodity..... and they have done many times before in history. Simple rule still applies "don't put all your eggs in one basket" you think?
@dobberdoss In regards to timing, the ball is in Chinas court. Watch China very closely, when they announce that they want nothing to do with the US dollar any more, markets will crash, and it will become difficult to take physical possession of metals. So just continue stacking precious metals. As a guess, I'd say 2013-2015 timeframe, but you never know, China may want to continue playing this game for 20 years. Either way, precious metals will continue to rise.
Ok, but don't you think if China did that they would essentially be saying we are letting the US debt owed to them off the hook? I can see your point though, that would still fuck the US economy but maybe even bring about WW3
Gainesville Coins :) EuroPacMetals . com and GoldSilver . com are too expensive and have minimum orders that are out of reach for common folk (GoldSilver has an insider membership loophole - you can buy single rolls of silver eagles). Still with GainesVille Coins, it is optimal to spend $2K or more at a time (bank wire minimum). $500 at a minimum (shipping charge effic). Do make sure you safe is at least RSC. TL-30 if more than a car's worth. Private vault storage if more than a house's worth
Damn Peter, you're multimillionaire and you still can't get your mic audio levels correct without massive distortion? Time to hire a sound engineer or get some proper equipment.
@limitedgovt999 I don't think that consumer junk its that essential. It is only YouTube. Message still comes across. I think Peter would rather buy gold and stay out of debt.
Can insiders trading also destroy the gold market? Yes and bankers don't need to creating jobs and housings that our real economy relies on to make huge amount of money. Risk is not freedom, traders are fooling you with languages so you demand no reform on them and those bankers backing them.
@walktheworld How? Money is still there. DOn't worry about what Peter says. The best way to escape inflation is STOCKS, not gold. Buying gold still does not sit well with me. I don't think I will ever buy gold.
@Anastrodamus You lost money when the housing and banking crisis happened. You did not predict it. Instead, you suffered from it. So, you are completely clueless and do not have any credibility. A good portion of my portfolio is in gold mining stocks, and I am winning at the age of 24 years young. You should get a solid education and listen to people who have an excellent track record. In life, there are followers and then there are leaders. You are a follower and behind in knowledge.
@Bmx33606 On the contrary my youtube financial advisor..I don't think I am the follower here. I actually am very much educated in the ways of the markets. Let me ask you something... Peter is selling gold now. Do you know what you need to give him to get the gold.../?? Say it with me... DOLLARS. So if he is so much against the $ and so belives that gold is the end all investment.. why does he exchange his gold to you for your dollars?
@Anastrodamus I get paid in dollars at this point in my life. He will take my dollars and give me my gold that I want. Gold has and will outperform stocks. I am not talking about a year or two. Nothing goes straight up or straight down as you know. Go ahead and buy stocks and just keep track over the years to see if your stocks have outperformed gold. You said that "money is still here." Money was still there before the crisis started. Look what happened. Gold versus Stocks..contest starts now!
@Bmx33606 OK since you are picking one investment. Let me pick one investment to compete with you. B/c we all know you can't compare GOLD vs. the "stock market". I will pick IBM. Lets see who out perfoms who. lol. You will be eating dust my friend.
@Anastrodamus I do. You can pick AAPL as well. It does not matter to me. Let's check back in a few years. I am bullish on the dollar and bearish on gold in the coming months. This is a long-term bet. Sound good? I am not in my investments for swing trades but long-term investments.
@Bmx33606 WOW what? u are "Bearish" on GOLD???? what? is this a typo? "bullish" on the dollar?? what are you talking about? You are Bullish on GOLD .. you mean.. right?
@Anastrodamus I want to put a time horizon on our bet. My bet is not predicting what will happen in the coming months but the coming years. Are you still on for the bet? Again, I am not a swing trader but an investor. I could care less what happens in the coming months. I care about what is coming in the future years.
@Anastrodamus Man this is gunna be hard; but listen his company sells gold as it is the currency of right now and the profit in turn buys him more gold. In the end he will have a shitpot of gold and you will have a heap of printed paper.
@bullsnutsoz Have you ever heard of someone named SAM BRANAN? Why don't you google him and find out how he made his millions back in the gold rush days 1800s. Peter is modern day Branan. He's not going to buy more gold to buy more gold. He buys it to invest it in other things. He purchase a home last year after taunting every one not to buy a home . He invests in Chinise stocks... which are worthless by now. He thinks the Euro the best currency out there.. he is exactly wrong. Still there u r.
@Anastrodamus He doesn't sell his personal gold. He's a registered dealer. Any money he makes goes straight into his own portfolio of precious metals and whatever stocks he's bought for himself, as well as operating expenses.
@Anastrodamus ...WRONG, nothing is up but it's the dollar that is losing value. You now need more fiat money to buy things like gold and food. Please study economics before coming on here making ignorant comments!
@petiemac24 i Can see you've bought in to the Peter Schiff is never wrong crowd hook line and sinker. Look here buddy I d know u but u sound pretty ignorant. How many other economists has projected a rosier scenario than Peter Schiff.. NONE. You are in a bus with 90% of all youtubers all saying the $ is going down the tube. U gys been saing this for years. yet its the best currency out there. If u don't want to be in there be in stocks. NOT GOLD. You don't now anything but what u hear on youtube
@petiemac24 DX is at .80 that is the real Purchasing power of all things in this world! The DX is the Worlds reserve currency and US Treasuries are at Historical lows! Gold is not legal tender in any country in the World! Good luck trying to wire transfer Gold to any Western Union in the world. It is simply a fear indicator like the VIX. Please study Economics before babbling to people things you don't know about!
@Minethis1 ....The dollar will continue to lose value, prices will continue to soar and the riots will spread like a brush fire. Please study free market economics and look at reality before talking to educated people.
@petiemac24 If the Dollar loses value that means that the supply is increasing! BASIC MATH! If Prices are increasing that means people have more supply of dollars and everyone is receiving more supply of Dollars! Net effect is No Value loss! You can only divide from ONE! 2/2=1 10/10=1 100/100=1 You can not say the more slices I create on a Pizza the less the Pizza becomes! This is Basic math Please Study basic Math! 2/2 does not equal .50.
@Minethis1 ....They are not giving the money to everyone but a select few are getting the majority. Inflation (increasing the money supply) is a hidden form of taxation and results in soaring prices. There is a reason why my paycheck does not buy as much as it used to. I have the same amount of fiat dollars but I can buy less with them. You need to study basic economics!
@petiemac24 1. Absolutely Wrong. There is no few that get the $. Banks were supplied with Printed Reserves From the FED at extremely low interest rates. Why are the Banks in this position? Because people who took the money from them didn't pay their debts on time. Fact. Every single dollar the Gov Gets is spend within the economy (in circulation). There is no hidden tax this is a fallacy. in 2011. This Only applied to economies that didn't Use Debt on a daily basis. Continue part 2.
@Minethis1 Part 2 If the Money/ Credit truly expanded. Fixed debt would become a smaller part of the inflated income. In a debt society everyone benefits from inflation. The opposite is true in Deflation. Fixed debt becomes a larger portion of a shrinking income. Result economic collapse. That is why PS is clueless and laughed at. EZ is a Perfect example of why he's wrong. Austerity, exploding Bond etc are causing deflation. Are Prices falling?? NOPE! Because Prices are set Globally!
@Minethis1 ....It is true that debtors benefit from inflation but the long term effects destroy the middle class. Peter Schiff has been right on the money and so are many other free market economists. Again, you're either amazingly misinformed or a lying scumbag that works for the FED.
@petiemac24 Peter has been wrong on everything but Gold. Ie. China will sell the $, Bonds we collapse, $ will collapse DX will go to 50, Hyper inflation, We should be more like EZ, The US will decouple from the rest of the world, Don't buy US Stock, Don't buy US bonds, A strong currency is better (EUR) it's Not helping EZ is it? DOW 1000 He called the Housing bubble but lost -60%.etc. etc. How can you say he is right is beyond me to be Honest with you. Nothing has come true!
@petiemac24 As for destroying middle class comment. I don't know where you come up with that? No country in the world has a stronger Middle and Poor class for that matter with a population of 300 Plus mil than the US. NONE. Our Purchasing power per income has increased 10 fold. The CRB index is collapsing inflation is within limits. Is there a slow down in midle class growth? Absolutely we are in a recession for Gods sake this is quite normal. We can't grow every single year. Be real
@Minethis1 ...By strong you mean severely in debt? Our purchasing power has has been destroyed by the printing of fiat money. Bankruptcies are up, foreclosures up, energy and food are soaring, health insurance is soaring and our nations debt is exploding.
@petiemac24 What you are describing is not devaluation of a currency. You are describing a recession. Remember when people were crying when food prices were climbing? Now that hey have Fallen 30 Plus % do you see anyone saying Food is Cheaper? No Why is that? Why Don't People Quantify the Truth? Remember When Oil was $150? Now it's $100 30% lower Why are people not saying it's cheaper? CPI is 2% DXY is .80 and climbing. Where is the Devaluation of the $ and Purchasing power? Quantify
@Minethis1 Yeah oil is down 30% form 09 but its up 25% from just a few short weeks ago. Food prices are down from earlier this year but are still up from this time a year ago. Quantify.
@orionstarman HAhahahaahA!!! You forgot to change Accounts hahahahaahha! Excellent! It matters not cause your still a dumb ass! My 30% down is more in Quantity than your 25% up! ROFLMAO in Tears! Learn Percentages and than Quantify!
@Minethis1 You dip shit. I was only pointing out the trend. I know oil is down alot since the peak but don't expect it to stay there. Especially since we're past peak oil production.
@Minethis1 ...Are you really going to try and fool people into thinking they are spending less of their paychecks on food and energy? If you can't see obvious sign of inflation all over the place, you are hopeless.
@petiemac24 Fool them?? CRB Index is down 30% inflation in Food and Gas does not mean inflation in the aggregate! If you understood anything about economics you would know that little!
@petiemac24 Here is a few questions. Why are we in Debt? Who expanded the savings and provide us the credit? What % of of the total Global reserve currency did we print in the last 10 years? How many % has gold gone up during the same time period? Exactly how much $ do the Chinese own? What % of that is that of our total debt? Who owns the vast majority of US Debt? what is this Nations total Asset Worth? What % of those assets do we actually owe? Lets get real and Quantify words!
@Minethis1 ...You proved my point for me, the banks were some of the few that got the fiat money. The banks made risky loans that were made possible by government actions. The banks also new that any losses on these bad loans would be covered by the taxpayers through a bailout. The cruelest form of taxation is printing money, even Ben Bernanke himself admitted inflation is a tax.
@petiemac24 Of course I proved your point there is no debate here that banks had access to the Fed's printed reserves. They paid it back Remember they had insured everything so they would have still survived under normal circumstances but this was a perfect storm event. Alternative was a collapse. Hmm.... Collapse? Or let them borrow Reserves? Not a tough call is it? Also remember The Taxpayers were the ones who Defaulted, lied, signed and took the banks money. Lets not twist things
@petiemac24 Limiting the Money Supply in circulation creates Riots! Fear and Hoarding of $ removes money from Circulation. Paying down Debt removes $ from Circulation. Paying more taxes for those that don't have it in the Bank Reduces $ in Circulation. Reducing Credit (money) abruptly reduces $ in circulation! Less money in circulation means Debt to Income ratio Increases which causes a collapse! That is what Causes Riots! What good is it that the EUR is a Strong currency? NOTHING!
@Minethis1 ...People all over the world have degrees, no jobs and are facing rising energy, food prices. That is why they are rioting! Paying back someone you owe money does not remove money from circulation, it puts it back in the hands of the person who saved it. Also you called credit money which is amazingly inaccurate! Credit is always debt and nothing else. Your lack of knowledge is shameful and amusing.
@petiemac24 1. If you can walk in a store and buy something with a Credit card THAT is MONEY! Period!
2. Savings is excess cash that is NOT being used in circulation! Therefore when it is returned to the owner it goes OUT of circulation where it came from.
You are the one Sir who is amazingly inaccurate and has ZERO Economic Knowledge. I suggest you Quantify your words next time instead of making up story's that sound good but can't be Quantified Micheal Bachmann style.
@petiemac24 People All Over the World with degrees don't have a Job because the Money supply in circulation is Contracting. Jobs can only be created when people have discretionary income. To have discretionary income people need to spend. Savings can only come from spending. If I don't spend my money in your store and save it instead how can you have an income to pay Fixed Debt, Hire workers, pay down debt, and than save? IMPOSSIBLE! The same goes for me you won't spend in my store.
@movieklump No your right, he should work for free and infact why not be your maid too? I'm sure that would please you. Who are you kidding? This is his job, it's his business. He has educated so many people and has made many people ALOT of money. Also I think he wants people to be protected from scams and he knows that his business wont rip people off as others might. Take your rediculous comments elsewhere.
mmmm what I don't understand is that if Peter believe that paper money will become worthless or in in the best case will lose a lot of value due to inflation how is he selling silver/gold ("real wealth") for dollars "worthless paper"? I don't really understand that....... The people that are going to make a lot of money on this are the gold dealers and sellers not the buyers just like it happened with the housing market only the realtors made tons of money and the buyers got a foreclose.
Jaruco03 2 months ago
what now peter you said buy at 1700 now its 1538 can i get a refund
sundog1171 2 months ago
@sundog1171
now it 4 week later and it 1717 and going up
muddog5000 1 month ago
OOPS
opensprit 2 months ago
HAHAHHH! What a clown!
CitizenNumber 2 months ago
@CitizenNumber Yes you are a clown.
TWSceptic 2 months ago
I commented when this video first came out and said that Peter is not good at short-term calls. He said that gold is establishing a bottom when this video came out. Look what happen the past couple of days. I will buy more gold soon, but I knew that Peter was off on this one.
Bmx33606 2 months ago
This is propaganda in it's most diabolic form.
MrTraffik07 2 months ago
Yeah fortunately we're not back on that nasty wealth protecting, currency protecting gold standard. You know, back in the day when America created the foundation to all of its prosperity, back when we were a skyrocketing manufacturing powerhouse, back when we were the envy of the entire planet, back when our innovations outpaced everybody, back when we still produced wealth, back when the middle class actually had a chance at forward progress. Back when children could expect a better future...
TheMadCrumpet 2 months ago
Yes Peter. Did for the first time.
ninadrsa 2 months ago
Ron Paul: President 2012
Peter Schiff: Vice President 2012
ryanm2450 3 months ago
gold/silver do not generate income, they preserve it.
MrTrendyTv 3 months ago
After the wtc bombing, where did all the gold go and who paid for it?
ozcabal 3 months ago
I'm a poor kid in college, I can't afford any sizable purchase of precious metals. I'm fucked
Caturdayz 3 months ago 13
@Caturdayz you don't have dollars is good because you have nothing to loose. but on serious note, do not take loans. don't let your own future pay for present.
ninadrsa 2 months ago
@Caturdayz Buy food first! then guns, lastly metals! Food, and water, are by far most important!
Hotrodluvmut1 2 months ago
@Caturdayz atleast you recognize this fact.
joejoemorgan 1 month ago
@Caturdayz
Buy penny rolls and sort out pre 1982 they are copper and save them
muddog5000 1 month ago
If anyone contends there must be a government run financial backstop to banks - ergo, a Fed - then where do you stop? How about a too big to fail Federal money printing backstop and liquidity agency for Florsheim? After all, we must all have shoes, right?
We have always and will always have shoemakers because they act prudently or die. Banks should too. Eliminating the corrupt Fed would yield such sanity. No stupidity without their moral hazard backstop - or they would perish. As they should.
decapitatespammers 3 months ago
Minethis1: Prove there would have been a collapse. You've read David Stockman's paper, haven't you? If not, search for david stockman mises hazlett
decapitatespammers 3 months ago 2
Patience pays off for real money, not paper money.
904PinballZine 3 months ago
The United States financial worth is 280 Trillion dollars keeping this in mind only leads me to believe that our Goverment will do as Peter Schiff says which is print more money driving up the price of Gold and Silver. A 14 Trillion dollar debt is all most nothing compare to 280 trillion worth,lots of room for printing.It's always easyier to take than to pay back.
txcharliehummer1 3 months ago
This has been flagged as spam show
RON PAUL 2012
keltingr 3 months ago
Buy whiskey and cigarettes. You can trade them for anything.
bammbamm12 3 months ago
@He101A
Gold is not an investment it's money.
davincij15 3 months ago 16
@davinci 15 mr. He; gold isn't money, its a rare metal, same? Ron Paul 2012!
johnbarkand 1 month ago
@johnbarkand
Gold has been money for thousands of years and it's the only physical asset central banks save and its not because of "tradition". youtube.com/watch?v=6-I1mugY5Ds The moment you figure that out is the moment your life changes for the better.
davincij15 1 month ago
@davincij15 mr. 15 what really "changed" my life after 58 years was the realization that
my "physical asset" was myself as a individual human, the rest is just loose change, no pun intended. thank-you for your reply sir. Oh yea, people have been wrong about a lot of things for thousands of years. I still like silver because I have fear
Ron Paul 2012!
johnbarkand 1 month ago
@johnbarkand
I'm a silver bug too. :) But at the end of the day I will trade for gold.
davincij15 1 month ago
@davincij15 i'm gonna check-out Morgans after payday. do i still have fear,or a brain?
have a good day mr. 15 ( remember 16 to 1 ratio) Ron Paul 2012
johnbarkand 1 month ago
The bell is ringing but gold and silver will take a hit because the central banks want to do QE3 so they will need another 2008 liquidity crisis and hit the price of the PMs. The charts show silver is in a down trend so Chase will make sure that it stays there for as long as they can.
If a lot of people purchased PHYSICAL gold and silver the price WILL not go up. Prices have nothing to do with supply and demand of the metal only supply and demand of paper contracts.
davincij15 3 months ago
If world currency defaults and we return to the Gold standard, it will sky rocket ten fold in a couple of days and, another ten fold, by the 7th day! The world banking systems are keeping the true value of gold demand undervalued. China now controls 10% of the planets gold reserve!
Why?.
To give you an example:-
Greece’s present gold reserve* only represents €5.1 billion >1% of its present €500+ billion bond debt. Do your math.
(*under the control of the “Bank of Greece”)
metaphysicalArtist 3 months ago
@He101A
You mean a cube that is 20^3, the cube you describe would be a mere 70 foot block. This is a very common mistake, infact you will find it misrepresented as 20m many more times then you find it properly counted as 20m^3
creamsykle 3 months ago
Wait to see how much more the dollar will fall if we don't send Obama packing! Time is ticking so let's not forget in 2012 at the polls what got us here and vote for freedom and capitalism by voting out the so called Liberals.
specguests 3 months ago
@He101A
Let me know which gold mine you think it cost $400 an ounce to get gold out of the ground, then I will give you the real number for that specific mine. Funny that you compared oil prices to gold prices, because that just brings up the point of speculation (ignoring the fact that we destroy the oil after we extract it, ). Most geologist will tell you there is 19,300 kg/m^3, that is enough gold to cover our entire planet (including oceans) with an almost 2 feet thick gold coating.
creamsykle 3 months ago
In the most costly environment for gold extraction it cost around $200 an ounce to get it to market. However, most can get it out of the ground and to market for less than $100 in today’s US currency market. So yes I have a fairly good idea of how rare and how costly gold actually is. I tend to hold foreign currency. There is plenty of room for profit, but more importantly, it is much easier to assess what a specific currency will be worth 5 years from now. You can't do that with gold.
creamsykle 3 months ago
OUR GOV DID 911... THEY LEFT A LOOSE END...THE ACARS SYSTEM ON THE PLANE WAS STILL TRANSMITTING SIGNALS WHEN THE PLANES HIT THE TOWERS, BOTH FLIGHT 11 & 175, IN A DIFFERENT STATE! OUR GOV KILLED ALL THOSE INNOCENT PEOPLE! TO ALL THE PEOPLE THE GIVE TRUTHERS A BAD WRAP OR SAY THEY ARE JUST NUT JOBS, GO LOOK AT YOUR SELF IN A MIRROR AND SAY, I WAS WRONG, OUR GOV DID DO 911, I AM PART OF A COVER UP AND I PLAYED MY PART BY THWARTING PEOPLE OFF FROM SEARCHING FOR THE TRUTH!
WATCH: 30ufSQYCOMc
freshkryp69 3 months ago
@freshkryp69 KOKO! The ACARS on American was not working after the impact! Nice try!
Minethis1 3 months ago
@He101A
Again I said nothing about interest rates. I was talking about commodities being released. They have done it half a dozen times in the past to very great effect. Interest rates can be changed to stop inflation of paper currency, but right now inflation is the best course of action they have. Set that aside, a gold release like the one in 2004 (or to even greater effect 1869) will strip wealth from the people who are holding that commodity and transfer it back to the government.
creamsykle 3 months ago
@creamsykle
Metals are one of the easiest commodities to do this with, and that’s why they utilize metals like gold and silver. When investors start trying to convince the masses to take "Physical Delivery" that is because they are trying to make sure they have time to react when the market is flooded, not because they think it's a good idea for you to keep Silver and Gold so you can by bread with it. They don't care if you can eat.
creamsykle 3 months ago
PS is Begging I mean selling people gold for what he Calls "Worthless pieces of Paper"! LOL He doesn't mind taking your worthless $'s in exchange for a certificate stating that you own physical Gold half way around the world in Perth Australia! Good for him that he can find naive people and profit from them while he preaches Doom and Gloom! Unreal!
Minethis1 3 months ago
@Minethis1 I don't care who sells the gold and silver. If you don't physically have it you don't own it. To me Keynesianism is doom and gloom.
orionstarman 2 months ago
@orionstarman You better Hope to what ever God you prey to that EZ Prints there ass off and we don't fall into a Deep Global Deflation. Because that Gold and Silver Will not be Worth the Toilet paper you Wiped your ass with today!
BTW Let me Quantify something else for you! Gold Inflation Adjust is still down 75% since 1980! Those that Bought and Held since will hopefully get their money back in about 46.5 Years from now. I Used the word "MAYBE" Mind you! ROFLMAO!
Minethis1 2 months ago
@Minethis1 Hope the EZ prints their ass off? Thats what got them into this mess. Borrow, print and spend like there's no tomorrow. Works every time.
How about the people who bought and held gold since 1981? When do they get their money back. or 1969, or 1984 or 2001. See I can cherry pick too.
orionstarman 2 months ago
@He101A
I guess we can all just hope that the government doesn't decide to use the same tactics they used in 1869 to stabilize the fiat currency in comparison to commodities like gold; though it almost certain they will since it is the exact same tactic they've always used after they inflate.
creamsykle 3 months ago
Isn't this just the calm before the storm, like in '29, and 08, the markets show strength right before another catastrophe??
dgallegos4201 3 months ago
@He101A
I said nothing about paper assets. I simply pointed out gold is a commodity, and there are no guaranties in the commodities market. I would like to point out most of the people who are saying you should buy gold, are trying to sell it to you.
creamsykle 3 months ago
We just keep putting off the inevitable...
AmericasNewsNow 3 months ago
@He101A
I think your statement would be more accurate if you said commodities help protect wealth. Gold is a commodity; it will not always "preserve your wealth".
creamsykle 3 months ago
THEY JUST KICKED THE CAN..
CFHMoRiDiN 3 months ago
Mr. T :
"I believe in the Golden Rule - The Man with the Gold... Rules."
grraadd 3 months ago
buy gold as in taking physical possession of it. other wise it can be seized. it can be put into a "Trust" and basically taken from you. Gerard Clamente is suffering this reality right now along with about 2thousand other american Gold 'investors"
MrJustonemorename 3 months ago
You can buy 1 gram bars for 60 bucks a bar or so..
fursatali 3 months ago
$1700 for gold? But... but... I'm poor. I can't afford that! I can barely pay my bills, how am I supposed to buy gold at $1700! Can I buy like a sand grain of gold?
Aahlookoutbehindyou 3 months ago
Try GDX 60 bucks a share@Aahlookoutbehindyou
jimbo59153 3 months ago
@Aahlookoutbehindyou ...You can buy smaller amounts if you can;t afford an ounce.
petiemac24 3 months ago
You can easily buy call options on gold if you don't have much money to invest with and/or if you want the highest exposure...an expiry of 6 months to 1 year should return a nice profit, if the dollar/euro ball continues rolling downhill in Europe and the US, as Schiff is predicting.
commoninfected 3 months ago
Didnt Jim and Marc say gold was in a correction phase.
jezza1789 3 months ago
Anything to try to boost sales!
XESTISS 3 months ago
FREE GOLD THAT'S RIGHT FREE GOLD
120dbdavid 3 months ago
Keep on stacking as they keep on printing.
bertly71 3 months ago
I dont know what to think opf Peter Schiff. I know about precious metals and I agree they are great, but he pushes them too much it makes me feel he has a vested interest in getting you to buy.
But common sense tells you that gold & silver have been worth something for thousands of years, fiat cuirrencies come and go.
agenthelios1 3 months ago
implode....just like wtc7.
RequiemForChange 3 months ago
Let's see if he's correct. Gold today 12/1/11 - $1744.85/oz
kenji4861 3 months ago
So is money also ! So what do you suggests come after money!?
Gold has been use as payments for over 2,000 years and have historically alway won and what should be the skill of this time when the "pressmachine time" is over! If you read the history of money and gold you will see, ithis is not the first time !
S
sivjudit 3 months ago
"He who has the Gold, makes the rules!" Time to take away the Gold from the Killuminati!
87solarsky 3 months ago
LOL yes u need the gold 2 make the rules....I need to buy soon! My broker was very knowlegable-thanks schiff :)
maraljan 3 months ago
Comment removed
ManNorthern 3 months ago
@ManNorthern Useless like... totally. If you happen to have a trunk of it that was acquired when it was $35/oz, I'm sure you believe it's useless. You clearly have minimal understanding of inflation or currency valuation.
gwydion75 3 months ago
like see people eat there gold and silver all that is worthless all money is a lie means of controll stop thinking that is what life is about when you die it doesn't mean s^^t
acidtrip43 3 months ago
isnt Schiff part of the Rothschild bloodline?
PrometheusMovement 3 months ago
This has been flagged as spam show
He who has the water!
roymaitland 3 months ago
This has been flagged as spam show
yes, and we all know who has all the gold. It's the same psychopathic bunch who owned it all along and who invented it in a first place as a store of "their" value to rob the sheeple blind. So, all the sheeple out there, buy gold and start "making the rules!!! " ... until it's either heavily taxed or simply confiscated from you again, oops...
xposelite 3 months ago
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xposelite 3 months ago
real bad audio :<
Bakkermman 3 months ago
Fully agreed except "who has the gold makes the rules"...but "who has the guns takes the gold"
shanekolidra 3 months ago
@linkerbaan gold isnt meant to save the world its meant to preserve wealth because paper notes are not going to provide the service anymore. tulips DO NOT retain value because it is perishable, gold and other precious metals can. stop using analogies to prove a point when you dont even understand the inherent difference between precious metals and organic matter.
Takeokoro 3 months ago
"He who owns the gold makes the rules." Isn't that the basis of the Rothschild strategy to dominate the world - in a nutshell. We get the bonds - they got the gold.
Protocol 22 " IN OUR HANDS IS THE GREATEST POWER OF OUR DAY - GOLD"
ejwoodall 3 months ago
@rizwan1983 GLD is a good way to trade gold but there are too many claims on the gold. it basically does fractional reserve lending itself. GLD is good to trade electronically, sell highs, buy low, but physical gold is what your going to want for long term.
chrisMcG17 3 months ago
@chrisMcG17
Thanks for this info.
rizwan1983 3 months ago
All you will really know in the near future is BARTER, because all of those with Gold and silver will need to hire others to handle all of their transactions, because the truly 'wealthy' will be those who are not afraid to face the light of day.
ChezKiva 3 months ago
Peter, thanks for the report.
What do you think of SPDR gold shares?
Would this be a good way to invest in gold?
rizwan1983 3 months ago
@rizwan1983 no. There are reasons why which I can't be bothered to type in, but do the research and you'll find out why
chroNick546 3 months ago
@chroNick546 I can't seem to find reliable information online. Just like you can't find reliable information about the economy anywhere except by subscribing to this channel.
I do not have access to physical gold so my choices are limited.
Thanks for nothing though. If you aren't bothered to type anything in then you needn't have replied.
rizwan1983 3 months ago
@rizwan1983 It depends how paranoid you are. If you believe in some kind of financial Armageddon scenario then you will want to have the actually physical gold stored somewhere you can get your hands on it. Personally I'm Canadian and I invest in CEF.A which is sort of similar to and ETF. They hold physical gold and silver. I think things will get bad with high inflation and whatnot, but I don't quite see myself living in a bunker.
miramichi30 3 months ago
@miramichi30 LOL....paper gold is just as good as NO gold. Most of these institutions dont have the physical gold to deliver. They are just playing the same Ponzi scheme they did with the dollar, but now an "I owe you" for gold.
Look at MF Global. They STOLE all their customers savings and futures and ran off with $3Billion worth of regular working peoples money. Be warned, paper gold is toilet paper!
agenthelios1 3 months ago
@agenthelios1 its now over 4 billion and growing...the system is falling apart and THEY DONT HAVE THE METAL TO DELIVER!! if you cant touch it you dont own it
rpo11234 3 months ago
@rpo11234 No shit sherlock, you just repeated what I stated.
agenthelios1 3 months ago
@miramichi30 when shit hits the fan it will be arrmegedon like you cant imagine. Just look how people act like such savages for saving $2 on a fucking waffle iron at walmart on black friday. Imagine when its for the last of the food in the store and its $20 for a loaf of bread....thats when people will get shot and loot and society will crumble apart
rpo11234 3 months ago
Great videos Peter.... THANKS!!!
Skudgeboy 3 months ago
well the debt now exceeds 100% of GDP, so any printing now will throw the %age number up quite a bit which will make the factor for yearly inflation targets less efficiently calculable for Bernanke. I don't think hyperinflation will hit in the near term but long term i think its much closer than ever before. I say within two years or one if really careless. Next years budget will really tank the situation.
2237lemon 3 months ago
peter, how to you feel about a gold etf like GLD?
Cryengine 3 months ago
What's worth more than gold?
A: great ideas
dobberdoss 3 months ago
@dobberdoss Water is worth more than gold.
elboertjie 3 months ago
@elboertjie only in the desert, far away from the oasis
acotytamwiesz 3 months ago
@elboertjie
worth is determined by marginal valuation, that is valuation done by an actor on the margin - if that happens to be in desert - yes water migght be higher, if done when choosing what to hold wealth in, probably gold
ivar197 3 months ago
@elboertjie ,
totally agree
dobberdoss 3 months ago
Just a thought:
So......in the near future, say whne everyone with half a clue buys gold........then a new currency is created (maybe) and governments around the world begin outlawing gold (again as they have done in the past) what will happen to everyone's gold values
dobberdoss 3 months ago
@dobberdoss My opinion, when they call the bank holiday and announce the "compulsory emergency buyback" of gold (or something along those lines), they will crush golds spot price to make everyone panic into selling their gold. When they have all the gold back in they will announce the new "backing" of the US dollar (I believe it will be backed by a basket of commodities, 10% gold, 10%silver 10%etc etc). When the banks reopen, you will see golds spot price somewhere north of $3000 per ounce. imho
swatunit4 3 months ago
@swatunit4 ,
Ok, so when you see that happening? 2 years? 5 years.........Like your basically saying Governments can fuck a market no matter what the base commodity..... and they have done many times before in history. Simple rule still applies "don't put all your eggs in one basket" you think?
dobberdoss 3 months ago
@dobberdoss In regards to timing, the ball is in Chinas court. Watch China very closely, when they announce that they want nothing to do with the US dollar any more, markets will crash, and it will become difficult to take physical possession of metals. So just continue stacking precious metals. As a guess, I'd say 2013-2015 timeframe, but you never know, China may want to continue playing this game for 20 years. Either way, precious metals will continue to rise.
swatunit4 2 months ago
@swatunit4 ,
Ok, but don't you think if China did that they would essentially be saying we are letting the US debt owed to them off the hook? I can see your point though, that would still fuck the US economy but maybe even bring about WW3
dobberdoss 2 months ago
Gainesville Coins :) EuroPacMetals . com and GoldSilver . com are too expensive and have minimum orders that are out of reach for common folk (GoldSilver has an insider membership loophole - you can buy single rolls of silver eagles). Still with GainesVille Coins, it is optimal to spend $2K or more at a time (bank wire minimum). $500 at a minimum (shipping charge effic). Do make sure you safe is at least RSC. TL-30 if more than a car's worth. Private vault storage if more than a house's worth
GreatInca 3 months ago
Thanks for the info
BITARTEN 3 months ago
Damn Peter, you're multimillionaire and you still can't get your mic audio levels correct without massive distortion? Time to hire a sound engineer or get some proper equipment.
limitedgovt999 3 months ago
@limitedgovt999 I don't think that consumer junk its that essential. It is only YouTube. Message still comes across. I think Peter would rather buy gold and stay out of debt.
GreatInca 3 months ago
Thanks peter. You have done a great dead today.
fursatali 3 months ago
Always so loud! The mic I mean.
Tempolisto 3 months ago
Holy crap... I just about jumped outta my skin... little high recording level
rubantin 3 months ago
This has been flagged as spam show
Can insiders trading also destroy the gold market? Yes and bankers don't need to creating jobs and housings that our real economy relies on to make huge amount of money. Risk is not freedom, traders are fooling you with languages so you demand no reform on them and those bankers backing them.
beancube2010 3 months ago
Comment removed
beancube2010 3 months ago
What about ETFs such as GLD or IAU? The problem with physical gold is the trouble with storing it, and the tax on any gains is the same.
ihooman 3 months ago
GOld is up but so is everything else!
Anastrodamus 3 months ago
@Anastrodamus Except fiat money. Get it?
walktheworld 3 months ago
@walktheworld How? Money is still there. DOn't worry about what Peter says. The best way to escape inflation is STOCKS, not gold. Buying gold still does not sit well with me. I don't think I will ever buy gold.
Anastrodamus 3 months ago
@Anastrodamus You lost money when the housing and banking crisis happened. You did not predict it. Instead, you suffered from it. So, you are completely clueless and do not have any credibility. A good portion of my portfolio is in gold mining stocks, and I am winning at the age of 24 years young. You should get a solid education and listen to people who have an excellent track record. In life, there are followers and then there are leaders. You are a follower and behind in knowledge.
Bmx33606 3 months ago
@Bmx33606 On the contrary my youtube financial advisor..I don't think I am the follower here. I actually am very much educated in the ways of the markets. Let me ask you something... Peter is selling gold now. Do you know what you need to give him to get the gold.../?? Say it with me... DOLLARS. So if he is so much against the $ and so belives that gold is the end all investment.. why does he exchange his gold to you for your dollars?
Anastrodamus 3 months ago
@Anastrodamus I get paid in dollars at this point in my life. He will take my dollars and give me my gold that I want. Gold has and will outperform stocks. I am not talking about a year or two. Nothing goes straight up or straight down as you know. Go ahead and buy stocks and just keep track over the years to see if your stocks have outperformed gold. You said that "money is still here." Money was still there before the crisis started. Look what happened. Gold versus Stocks..contest starts now!
Bmx33606 3 months ago
@Bmx33606 OK since you are picking one investment. Let me pick one investment to compete with you. B/c we all know you can't compare GOLD vs. the "stock market". I will pick IBM. Lets see who out perfoms who. lol. You will be eating dust my friend.
Anastrodamus 3 months ago
@Anastrodamus Deal! IBM is an excellent company.
Bmx33606 3 months ago
@Bmx33606 and u actually think Gold will out perform IBM?? OK you must be a gambler. I was going to say APPL but thats too easy.
Anastrodamus 3 months ago
@Anastrodamus I do. You can pick AAPL as well. It does not matter to me. Let's check back in a few years. I am bullish on the dollar and bearish on gold in the coming months. This is a long-term bet. Sound good? I am not in my investments for swing trades but long-term investments.
Bmx33606 3 months ago
@Bmx33606 WOW what? u are "Bearish" on GOLD???? what? is this a typo? "bullish" on the dollar?? what are you talking about? You are Bullish on GOLD .. you mean.. right?
Anastrodamus 3 months ago
@Anastrodamus I want to put a time horizon on our bet. My bet is not predicting what will happen in the coming months but the coming years. Are you still on for the bet? Again, I am not a swing trader but an investor. I could care less what happens in the coming months. I care about what is coming in the future years.
Bmx33606 3 months ago
@Bmx33606 Even better for me. I will prepare to laugh. I'll see you in a year for an update.
Anastrodamus 3 months ago
@Anastrodamus Man this is gunna be hard; but listen his company sells gold as it is the currency of right now and the profit in turn buys him more gold. In the end he will have a shitpot of gold and you will have a heap of printed paper.
bullsnutsoz 3 months ago
@bullsnutsoz Have you ever heard of someone named SAM BRANAN? Why don't you google him and find out how he made his millions back in the gold rush days 1800s. Peter is modern day Branan. He's not going to buy more gold to buy more gold. He buys it to invest it in other things. He purchase a home last year after taunting every one not to buy a home . He invests in Chinise stocks... which are worthless by now. He thinks the Euro the best currency out there.. he is exactly wrong. Still there u r.
Anastrodamus 3 months ago
@Anastrodamus He doesn't sell his personal gold. He's a registered dealer. Any money he makes goes straight into his own portfolio of precious metals and whatever stocks he's bought for himself, as well as operating expenses.
UponInfinity 3 months ago
@Anastrodamus ....He uses the dollars that are profit and uses them to buy more, say it with me. GOLD.
petiemac24 3 months ago
@Anastrodamus ...You obviously don't understand the concept of sound money.
petiemac24 3 months ago
@Anastrodamus ...WRONG, nothing is up but it's the dollar that is losing value. You now need more fiat money to buy things like gold and food. Please study economics before coming on here making ignorant comments!
petiemac24 3 months ago 15
@petiemac24 i Can see you've bought in to the Peter Schiff is never wrong crowd hook line and sinker. Look here buddy I d know u but u sound pretty ignorant. How many other economists has projected a rosier scenario than Peter Schiff.. NONE. You are in a bus with 90% of all youtubers all saying the $ is going down the tube. U gys been saing this for years. yet its the best currency out there. If u don't want to be in there be in stocks. NOT GOLD. You don't now anything but what u hear on youtube
Anastrodamus 3 months ago
@petiemac24 DX is at .80 that is the real Purchasing power of all things in this world! The DX is the Worlds reserve currency and US Treasuries are at Historical lows! Gold is not legal tender in any country in the World! Good luck trying to wire transfer Gold to any Western Union in the world. It is simply a fear indicator like the VIX. Please study Economics before babbling to people things you don't know about!
Minethis1 3 months ago
@Minethis1 ....The dollar will continue to lose value, prices will continue to soar and the riots will spread like a brush fire. Please study free market economics and look at reality before talking to educated people.
petiemac24 3 months ago
@petiemac24 If the Dollar loses value that means that the supply is increasing! BASIC MATH! If Prices are increasing that means people have more supply of dollars and everyone is receiving more supply of Dollars! Net effect is No Value loss! You can only divide from ONE! 2/2=1 10/10=1 100/100=1 You can not say the more slices I create on a Pizza the less the Pizza becomes! This is Basic math Please Study basic Math! 2/2 does not equal .50.
Minethis1 3 months ago
@Minethis1 ....They are not giving the money to everyone but a select few are getting the majority. Inflation (increasing the money supply) is a hidden form of taxation and results in soaring prices. There is a reason why my paycheck does not buy as much as it used to. I have the same amount of fiat dollars but I can buy less with them. You need to study basic economics!
petiemac24 3 months ago
@petiemac24 1. Absolutely Wrong. There is no few that get the $. Banks were supplied with Printed Reserves From the FED at extremely low interest rates. Why are the Banks in this position? Because people who took the money from them didn't pay their debts on time. Fact. Every single dollar the Gov Gets is spend within the economy (in circulation). There is no hidden tax this is a fallacy. in 2011. This Only applied to economies that didn't Use Debt on a daily basis. Continue part 2.
Minethis1 3 months ago
@Minethis1 Part 2 If the Money/ Credit truly expanded. Fixed debt would become a smaller part of the inflated income. In a debt society everyone benefits from inflation. The opposite is true in Deflation. Fixed debt becomes a larger portion of a shrinking income. Result economic collapse. That is why PS is clueless and laughed at. EZ is a Perfect example of why he's wrong. Austerity, exploding Bond etc are causing deflation. Are Prices falling?? NOPE! Because Prices are set Globally!
Minethis1 3 months ago
@Minethis1 ....It is true that debtors benefit from inflation but the long term effects destroy the middle class. Peter Schiff has been right on the money and so are many other free market economists. Again, you're either amazingly misinformed or a lying scumbag that works for the FED.
petiemac24 3 months ago
@petiemac24 Peter has been wrong on everything but Gold. Ie. China will sell the $, Bonds we collapse, $ will collapse DX will go to 50, Hyper inflation, We should be more like EZ, The US will decouple from the rest of the world, Don't buy US Stock, Don't buy US bonds, A strong currency is better (EUR) it's Not helping EZ is it? DOW 1000 He called the Housing bubble but lost -60%.etc. etc. How can you say he is right is beyond me to be Honest with you. Nothing has come true!
Minethis1 3 months ago
@petiemac24 As for destroying middle class comment. I don't know where you come up with that? No country in the world has a stronger Middle and Poor class for that matter with a population of 300 Plus mil than the US. NONE. Our Purchasing power per income has increased 10 fold. The CRB index is collapsing inflation is within limits. Is there a slow down in midle class growth? Absolutely we are in a recession for Gods sake this is quite normal. We can't grow every single year. Be real
Minethis1 3 months ago
@Minethis1 ...By strong you mean severely in debt? Our purchasing power has has been destroyed by the printing of fiat money. Bankruptcies are up, foreclosures up, energy and food are soaring, health insurance is soaring and our nations debt is exploding.
petiemac24 2 months ago
@petiemac24 What you are describing is not devaluation of a currency. You are describing a recession. Remember when people were crying when food prices were climbing? Now that hey have Fallen 30 Plus % do you see anyone saying Food is Cheaper? No Why is that? Why Don't People Quantify the Truth? Remember When Oil was $150? Now it's $100 30% lower Why are people not saying it's cheaper? CPI is 2% DXY is .80 and climbing. Where is the Devaluation of the $ and Purchasing power? Quantify
Minethis1 2 months ago
@Minethis1 Yeah oil is down 30% form 09 but its up 25% from just a few short weeks ago. Food prices are down from earlier this year but are still up from this time a year ago. Quantify.
orionstarman 2 months ago
@orionstarman HAhahahaahA!!! You forgot to change Accounts hahahahaahha! Excellent! It matters not cause your still a dumb ass! My 30% down is more in Quantity than your 25% up! ROFLMAO in Tears! Learn Percentages and than Quantify!
Minethis1 2 months ago
@Minethis1 You dip shit. I was only pointing out the trend. I know oil is down alot since the peak but don't expect it to stay there. Especially since we're past peak oil production.
orionstarman 2 months ago
@Minethis1 ...Are you really going to try and fool people into thinking they are spending less of their paychecks on food and energy? If you can't see obvious sign of inflation all over the place, you are hopeless.
petiemac24 2 months ago
@petiemac24 Fool them?? CRB Index is down 30% inflation in Food and Gas does not mean inflation in the aggregate! If you understood anything about economics you would know that little!
Minethis1 2 months ago
@petiemac24 Here is a few questions. Why are we in Debt? Who expanded the savings and provide us the credit? What % of of the total Global reserve currency did we print in the last 10 years? How many % has gold gone up during the same time period? Exactly how much $ do the Chinese own? What % of that is that of our total debt? Who owns the vast majority of US Debt? what is this Nations total Asset Worth? What % of those assets do we actually owe? Lets get real and Quantify words!
Minethis1 2 months ago
@Minethis1 ...You proved my point for me, the banks were some of the few that got the fiat money. The banks made risky loans that were made possible by government actions. The banks also new that any losses on these bad loans would be covered by the taxpayers through a bailout. The cruelest form of taxation is printing money, even Ben Bernanke himself admitted inflation is a tax.
petiemac24 3 months ago
@petiemac24 Of course I proved your point there is no debate here that banks had access to the Fed's printed reserves. They paid it back Remember they had insured everything so they would have still survived under normal circumstances but this was a perfect storm event. Alternative was a collapse. Hmm.... Collapse? Or let them borrow Reserves? Not a tough call is it? Also remember The Taxpayers were the ones who Defaulted, lied, signed and took the banks money. Lets not twist things
Minethis1 3 months ago
@Minethis1 ....Words can't even explain the lack of knowledge you just displayed in that paragraph!
petiemac24 2 months ago
@petiemac24 Yea kinda hard to argue with the facts. You can always Pull a Michelle Bachmann you know.
Minethis1 2 months ago
@Minethis1 .....RON PAUL 2012
petiemac24 2 months ago
@petiemac24 Doesn't stand a chance in Hell! Only the standard 8% retards would vote for him.
Republicans lost from the word GO! Although I must say watching the debates is so amusing watching all the Jerry's kids up there.
Minethis1 2 months ago
@petiemac24 Limiting the Money Supply in circulation creates Riots! Fear and Hoarding of $ removes money from Circulation. Paying down Debt removes $ from Circulation. Paying more taxes for those that don't have it in the Bank Reduces $ in Circulation. Reducing Credit (money) abruptly reduces $ in circulation! Less money in circulation means Debt to Income ratio Increases which causes a collapse! That is what Causes Riots! What good is it that the EUR is a Strong currency? NOTHING!
Minethis1 3 months ago
@Minethis1 ...People all over the world have degrees, no jobs and are facing rising energy, food prices. That is why they are rioting! Paying back someone you owe money does not remove money from circulation, it puts it back in the hands of the person who saved it. Also you called credit money which is amazingly inaccurate! Credit is always debt and nothing else. Your lack of knowledge is shameful and amusing.
petiemac24 3 months ago
@petiemac24 1. If you can walk in a store and buy something with a Credit card THAT is MONEY! Period!
2. Savings is excess cash that is NOT being used in circulation! Therefore when it is returned to the owner it goes OUT of circulation where it came from.
You are the one Sir who is amazingly inaccurate and has ZERO Economic Knowledge. I suggest you Quantify your words next time instead of making up story's that sound good but can't be Quantified Micheal Bachmann style.
Minethis1 3 months ago
@petiemac24 People All Over the World with degrees don't have a Job because the Money supply in circulation is Contracting. Jobs can only be created when people have discretionary income. To have discretionary income people need to spend. Savings can only come from spending. If I don't spend my money in your store and save it instead how can you have an income to pay Fixed Debt, Hire workers, pay down debt, and than save? IMPOSSIBLE! The same goes for me you won't spend in my store.
Minethis1 3 months ago
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Anastrodamus 3 months ago
People with all their criticisms with audio or with Peter promoting his business on his own page! Bunch of momos. Great info here.
RockyMountainPrepper 3 months ago
Now you can panic!
Shadowdown666 3 months ago
Excellent.
RockyMountainPrepper 3 months ago
This video would have been much more powerful without the hard sell at the end.
movieklump 3 months ago
@movieklump No your right, he should work for free and infact why not be your maid too? I'm sure that would please you. Who are you kidding? This is his job, it's his business. He has educated so many people and has made many people ALOT of money. Also I think he wants people to be protected from scams and he knows that his business wont rip people off as others might. Take your rediculous comments elsewhere.
winnah2314 3 months ago 4
@winnah2314 Is a Peter Schiff sycophant a Shiffophant?
movieklump 3 months ago
HOT AUDIO
OFF THE SCALE
davematherly 3 months ago