They can print gold certificates though. There are 10 times more gold certificates than there is gold inventory. It's fractional reserve gold. They get away with it because very few purchasers take physical delivery of their gold. Buyers are none the wiser.
I like Peter's commentary in general(a bit too pessimistic) but nevertheless mostly good analysis. However, in this video he talks about how all countries can print money & pay off debt. I disagree. All countries hold debt in $. Other Cntrys can still print THEIR money and BUY $ & pay off debt, but it will lead to an immediate devaluation of THEIR currency. US, on the other hand, can print &pay-off, but bcos they dont have to go thru a FOREX mkt, will not see imm deval.(grad. inflation tho)
@rezac05 makes sense up to the "they don't have to go through the foreign exchange market". How does the US not have to go through foreign markets? And how does this exempt the US from devaluation? when printing money to monetize government debt?
@JpassTheTime US does not need not go thru Forex (TO PAY THEIR DEBT),bcos their debt is already $ denominated. But others have to. And forex mkt set the prices of currency. With rgds to printing money, US already did it in 2009 when Fed bought 300B in treasuries..it did not devalue $ rght?. USD has a sp. status bcos it is the premier reserve currency for all countries and so demand will always be there..so gradual devaluation(inflation) will occur but not a sudden deval like peso crisis or ZWB
@rezac05 i accept. but they can't spend forever. and it seems to me that the growth of government and extension of regulations and red tape on the private sector is the reason for the economy not recovering. So if what i just said has any validity, don't you think after the Debt/GDP ratio becomes more and more lopsided won't foreign creditors ease of us gov debt and then once they aren't holder to many dollar denominated assets, stop accepting dollars?
One question, what will be the few best solution when one day the U.S. Dollars finally collapse and the stock market plunged? Is storing gold and silver the best option for the national leaders? Or maybe there more solutions out there?
@hoochymama "we will never default because we can just print money"
That statement makes no sense right.? Unlike you the US economy will not retire at age 65. Unlike you the US is an economic super power full of innovation & entrepreneurs. "Printing" or in other words "Borrowing" at such unbelievable low rates set by the market is a very smart thing in a period of Global crisis. Obviously you never ran a large company to understand. Yet you feel uniquely qualified to comment on economics. Hm..
I would like to know that if, I mean if the U.S. Dollars' Ponzi Scheme finally collapse one day, what will happen to countries like China? And how they counteract this potential calamity? Buy gold and silver, or manufacture more? And will the U.S. government use military action on those who dumped the U.S. Dollars?
Not much.. China will lose values in its dollar holdings but they still have their own currency, which if allowed, will aprecciate in value and they regular Chinese will be much better off.
@xMaXiMuSx Well, with conventional wisdom it is. But we may need to consider that the export might hurt a little (or a lot) if they pull the plug of the U.S. Dollars.
And let's hope there will be no military action against all those countries that dump the U.S. Dollars or once rejected the I.M.F. "help" in the past.
They won't need to export anything.. They have over a billion people.. If they end the dollar peg and allow the market to determine the real purchasing power, the chinese will have the purchascing power to buy all the goods they send us here.. Their standard of living will SKYROCKET.
No their goods will be CHEAP since they produce so many of them. It means there is paper money chasing MANY goods meaning that it will be cheap.. IN countries where they produce nothing or very little it means they have a lot of paper money chasing fewer goods means that they will have HIGH prices..
@xMaXiMuSx Since you mentioned about the productivity. My country Malaysia is the major producer of palm oil, rubber, petroleum and tin. Will my country's export commodities prices shoot up through the roof if U.S. Dollars collapse? Will it effect my countrymen purchase power? And since my country got major agriculture sector, do you mean that my country will suffer less than countries like Singapore, U.S. and U.K.?
I dont know about Malaysia's internal central banking policies, so I cannot comment. But a productive country should have cheap prices and a high standard of living if the goverment and the central bank has responsible policies. If the US dollar collapses, your exports will go up in price in terms of the dollar but in terms of other currencies that are more stable. Once again I just dont know much about Malaysia's internall situation to be sure of what sort of impact it will
@xMaXiMuSx At least my country's central bank known as Bank Negara Malaysia is following rules and Acts that my country's parliament passed/permitted. Which unlike the Federal Reserves which is more privately owned. Can do some research on Wikipedia.
Maybe China can use Rothschild family's strategy that once did to Britain after the Battle of Waterloo. Just wait till their currency collapse into the abyss, then they bought up the U.S. stocks and companies with just a few cents (imaginary value that is).
Well, sounds dirty. But it might work if they wish to try. I will use that strategy as well to gain more.
@xMaXiMuSx Sorry to ask this question which even you won't predict, but just curious, will U.S. launch military actions if countries like China, Russia, Brazil, India and other U.S. Bond holders one day dump U.S. Dollars? Because I got a sense that they might use it consider most of their military deployment has moved to Pacific regions near China and Russia.
God loves you, and Jesus Christ is the way to Him. Jesus died for our sins, was buried and rose again on the 3rd day so that all who believe in Him will be saved from Hell and have eternal life. Eternal life is a free gift from God to all who believe on the Lord Jesus Christ.
THE DREAM TEAM President Ron Paul. Gov Gray Johnson should be his vice president and for a transition period Thomas Sowell or Robert Tollison to head the federal reserve. Peter Schiff economic adviser and Tom Woods would be his press secretory.
How does "FAiL"An Greenspan have the nerve and audacity to speak with any authority after what his policies have done to this country? You're an Epic Failure now go away and accept the fact that you've been consistently wrong wrong wrong.
Rational and intelligent Republicans and Democrats need to rally together and support Ron Paul. He's the only candidate that people from both parties can identify with and the only candidate that can bridge the ideology gap between the parties. More importantly, he doesn't cater to the extremists in his own party which is why Fox News won't give him any press coverage. He's our last chance at rational governance that won't bend to irrational influence.
hey Alan Greenspan! hey you!!! you are insane!!! check yourself in to the nearest psychiatric unit. but if only you were just crazy i would pity you, but i know that you were and are doing this for profit. so may God repay in just for what you've done to this great Country and its People. your judgment will come. and you call yourself a Jew??? Ayn Rand is rolling in her grave you bastard! :))
kill the messenger!!! we don't want to know the truth, we are happy with our heads in the sand!!! keep buying stocks and treasuries!!! do not, i repeat, do not buy any gold or silver!!! must keep head in sand and trust Krugman!!! Krugman will save our world from ALIENS, he said so!!!
If the Fed can print money at its whim and fancy, it gonna nake some people very very rich. I better apply to head the Feb. Any supporters? I guarantee you'll be handsomely rewarded, he he.
If the Fed can print money at its whimp and fancy, it gonna nake some people very very rich. I better apply to head the Feb. Any supporters? I guarantee you'll be handsomely rewarded, he he.
Gold is not going to work. Money is as will be based on faith in making a promise. White elites, black elites, asian elite, hispanic elites have made lots of bad promises over the last 100,000 years. all, monetary policy from history has corruption, time to wake up and start new
The USA is already in default. The USA changes the rules on COLA for social security benefits. The USA dilutes and depreciates the currency to be able to pay off debt with a cheaper currency is a default. Meeting social security commitments while changing the rules for COLA and meeting them with a depreciated and diluted currency is a default. A default by any other name is still a default.
@Minethis1 concerning the interests rates, the next debt ceiling will lead to a AA- or less and you will see the rates going up
china is stuck with the problem too. other countries are worst than USA. this is a world collapse.
Peter missed it with EU
Inflation is already running. when I go to the grocery store, it is more expensive. what created a deflation is the cost of gaz going down but if you don't have a car, you wont suffer
1. Inflation is not your Grocery store. Deflation is the problem!
2. Debt ceiling does not matter in a "balance sheet recession"!
3. In a deflationary world income drops faster than price.
4. This is not a world collapse. This is stupidity from the EU with their dumb ass Austerity measures during a recession which is causing their economies to contract. They are the 2nd biggest economy. If they ain't going to be buying who will the world sell to? Only the US? Good luck!
@xMaXiMuSx Sorry your the one who is clueless. You don't even understand what I am talking about. It's like trying to have a conversation about Physics with a retard.
@Minethis1 China is keeping its money devaluated by 25% forcing the other countries to take extreme measures. I think most of the people don't understand what Bernanke and others are trying to do because this is extremely complex. Unfortunately like China, they cannot tell too much bout their plans. Like a business, they cannot divulgate what they are doing too much because the competition will adapt quicker. I am sure though they are working for the best.
@schassse The truth is it is complex. China and emerging markets have played a big part in all of this. This is the first time that we have experienced a true Global economy and Global recession that has crated huge Global imbalances. Despite these challenges The US is fairing extremely well considering. 99% of the people think in black and white not in Relative terms. They do not understand that economics is a paradox. Ie reduce spending and debt and deflate and we will all be great! Wrong!!!!
@schassse Reduce spending and you reduce jobs unemployment sky rockets (ie EU.) Job loss = less money spend in the economy more job loss. Income falls faster then Prices since people will be always will to do a job for less money which means less money to spend in the economy even more job loss.This leads to a deflationary spiral to Zero! A deflation problem can not be fixed with more deflation! (IE Austerity measures, increase taxes etc.) People think lower prices with same income! Wrong!!!!
No.. There is no goverment cuts anywhere.. All they are doing is stealing from your benefits to pay the bond holders.. IN order for the economy to grow again, the goverment MUST decrease taxes and stop printing money to bail out bad investements and failed companies and allow the economy to reallocate capital efficiently(it's being used to prop banks).. and Of coures you need to default on your debt because it can NEVER be repaid.. Interest rates MUST go up..
@xMaXiMuSx Boy is you Crazy! You want to raise the cost of all borrowed money both present and future during a recession? and reduce the Tax revenue even further? What Kind of weed you smoking?? And you want the US debt reduced on top of that? Hahahahah! O wait and do away with all big banks? Surely you must be thinking that while we do all these real smart things your income will remain or increases. Right? Forget weed what kind of Crack you smoking? WOW! Ignorance gone wild! Speechless!
@Minethis1 Spending increases makes unemployment go UP. Decreasing spending and taxes frees up resources and unemployment goes DOWN. Where do you think the government gets the money from? Under a secret mattress? Any moron who thinks this is a deflationary problem isn't worth listening to.
@itachi705 >>>> "Spending increases makes unemployment go UP." <<<<
Right there that statement shows just how ignorant you are on economics. You need not say any more to display your idiotic thinking.
If that were a true statement Europe countries should have been kicking ass all over the place! Instead they have 20% unemployment and 30% bond yields. LOL! You are a champion of economic Ignorance! Be Proud and say it Loud!! Unreal!
@itachi705 >>>>>>Any moron who thinks this is a deflationary problem isn't worth listening to.<<<<<< China Income Tax Rate 45% China Corporate Tax Rate 25% China Sales Tax / VAT Rate 17% Inflation rate 10% + China's Printing presses doubles their total money supply once every 40 Months! Growing at 17% annually! According to your dumb ass China should have extremely high unemployment and deflating into the abyss! You are a champion of economic Ignorance! Be Proud and say it Loud!!
The reason China doubles their money supply is because they have to in order to maintail the dollar peg and the value of their dollar holdings.. But it's a terrible policy for their people.. ALL of the progress and the GDP growth that would bring down the cost of living way down is WIPED out by them printing all the money to maintain the dollar peg..
@xMaXiMuSx Do not confuse monetary inflation and Price inflation. China's productive output has grown tremendously which in it's self causes price inflation. They then CHOSE to PRINT at crazy exponential growth rate which caused Monetary inflation on top. It is NOT the US fault! They are the ones who flooded the world with their money and were willing to buy the Worlds treasuries at any price which Caused this imbalances in interest rates! US told them Stop printing! They said NO! Here we Are!
No.. productive output does NOT cause price inflation, it cause deflation you idiot.. The rest of it shows how clueless you are.. Yes our goverment told them to stop printing because we want their currency to rise and our to fall.. It's one way to default on our debt because the dollars they own become worthless, which is the only reason they are maintaining the dollar peg..
@xMaXiMuSx Hahahahah AGAIN! you show your ignorance little grass hopper! Of course it causes price inflation! Just cause your little brain doesn't know or even worse doesn't understand it. Doesn't mean it doesn't occur! Sorry try again!
Thx for proving my point that only the ignorant or laymen follow Peter and want Ron Paul for president!
Like I said B4 You are a champion of economic Ignorance! Be Proud and say it Loud!!
You are a fu cking idiot.. what causes inflation across the board in the incrase in the supply of money.. Being productive means you have more goods chasing less paper money.
@xMaXiMuSx "Being productive means you have more goods chasing less paper mone"
No! It means prices go up because aggregate demand increases usually associated low unemployment periods and a thriving economy. Velocity of money increases pushing up aggregate income which pushes up prices for goods.
Unlike today when unemployment is high, velocity of money is low, credit is contracting and the economy is deflating causing aggregate demand to fall pushing prices down.
Reducing spending with tax frees up capital for the private sector.. The difference there is NO real cuts anywhere to free up money, all they are doing is stealing money of your promised benefits to pay the bankssters/bondholders.. Deflations means = lower cost of goods and items for employers meaning that there is more capital freed up to eploy people.. Prices COME DOWN to that point where they should normally be before the excessive money printing..
@VanWorkum the profit is probably very minimal: pay to operational costs and salaries. obama, bernanke dont have large salaries like corporation top heads
@winner502 A typical ignorant response from a moron.
1. You have no experiences.
2. You are taking someone else s word on you tube at that to make a financial "investment".
3. You think you are rich. A relative term.
4. You have no idea when to sell your gold therefore you will ride it all the way back down to a loss since you have been dollar cost averaging all the way up for years.
5. The fact that you would invest in a loosing asset "Ferrari" is more proof you are clueless and a moron!
Everyone I tell about China's AA-, all say its because they are communist and have a habit of change the rules.....
I guess that's true....I know this one country that use to back their currency with gold and you could even redeem it for gold on the spot. Then one day they decided to get off the gold standard and screw everyone over. Everyone now holding the bills were no long able to redeem their notes for the gold that was promised.... all they have ish this piece of paper......
People need to realize that the dollar will go UP anytime that there is a major selloff. Why? Because when you sell your stocks, you are automatically converted into a cash reserve fund(like the giant FDRXX Fidelity Cash Reserve fund). You aren't asked if you want your stock sale to go into francs, euros, or gold. You AUTOMATICALLY go into dollars.
if an European wants to buy oil, he has to buy dollars first to pay for the oil. If an American wants to buy oil and doesn't have any dollars, he can print them and pay for the oil.
The problem: Saddam start accepting euros for his oil. Result: war.
The way things are going, some idiots just might trigger the 3rd world war to re-set or re-start the capitalism.
There has never been a head of the Federal Reserve since 1913 that was not Jewish. Can we get some equal opportunity here? Maybe a token Christian once in a while?
@gringott12 A man named Deng Xiaopeng once said "It doesn't matter if a cat is black or white, so long as it catches mice." I do agree that we should get rid of the federal reserve but the heads of the federal reserves religious Belize's do not matter
@dukee155 I hope you are correct, but almost 100 years of the special club taking control is hard to ignore. Media, finance, government, they are holding the reins. Of course, most Jews I have known in my life have nothing to do with it - because the Jews I meet at my level of society are certainly not controlling anything. I lived in Israel for 2 years, great time & people. That doesn't change the bad actions of the ones on top.
@gringott12 many Jews have been successful in getting into the elite. I am a jew my self I think it is a good thing that so many have been successful. If I met someone who is in politics and happened to be a jew I might not agree with them because most of them are democrats but that is nothing with Judaism its just the way they believe. Also jews have been persecuted through history and now we made something of ourselves unlike the blacks who want to punish the ones who work and take everything
@dukee155 Would you say the same things if every Fed head since 1913 was black, if every head of every major media in the USA was black, if the majority of actors in the various media was black? Blacks are 12 per cent of the population. Jews are at best 1.2 per cent. Seems like they have a ruling club others cannot join. Care to guess the percentage of Jews running the major Universities? I am not saying all Jews are bad, no more than all Sicilians are Mafiosos. Hard to ignore the facts.
@gringott12 It is not a secret club. Jews did not get a special privileges ever it just so happens that Jews worked really really hard during the industrial revolution and still to this day that they are able to have high positions. If you want to flip flop it to have Jews be what black people are today lazy wanting to get special privileges from the government if I was looking at it I would say the same.
@dukee155 I work hard. How to I get to be head of the Federal Reserve? Change my middle name to Shalom? Sorry, working hard does not take over every major media company, every major bank, the Federal Reserve. Something more going on there my friend. If you want to disbelieve your lying eyes, fine. If you really think that 1.2 percent of the population controls the rest through hard work, you are pretty thick and hard work won't help you.
@gringott12 look at Bernanke he got a 1600 on his SAT he went to Harvard and MIT. Look at Peter Schiff Sure he does not have a degree from Harvard but he runs a successful brokerage in Connecticut a very expensive place to live. You are to tell me this is all because of their last names. Not every Jew is successful I have an uncle who works at a hotel carrying peoples luggage.
Yes, we have a printing press, but there's more to it than that. ALL OF OUR DEBT IS IN DOLLARS. Thus, we don't have to face the FX market to pay our debt. I gotta agree that the criticism S&P is facing is all due to political pressure, but the rating of our country's debt is a little more complex than do you have a printing press.
Gold back dollars don't escape the trap of printing money and gold itself is far to limited a resource to allow for a dynamic economy on it own. This is why, under gold back monetary systems banks typically had vouchers of credit that made up the majority of the money supply. Instead of going back to a system that never really existed, a constitutional amendment that restricts government created inflation (printing $ outside replacement of old $) to 1%-1.5% a year would work just as well.
@xpiher And before people say "we don't print money anymore" that's not the point. The government still actively inflates the money supply through adding 000s on its balance sheet digitally.
Monetizing the debt is NOT about actual 'printing' of money, it's about increasing the money supply by pushing a key on a computer and increasing the number digitally.
We need to stop using the bogus term 'printing'. The amount of greenback currency(M1) in circulation remains within a certain range. M1 represents currency, traveler's checks, demand deposits, and community banks.
'Printing' is a figurative term, not a literal term. It's the DIGITAL MONEY SUPPLY that has massively increased.
@RAMKING61 but I use a credit card to buy everything. I pay it electronically from my checking account which is funded by a direct deposit from my employer. The only cash I use is to operate machines at the laundromat.
The day should live in infamy. The day is 8/15/71. The 40th anniversary is monday! The value of the dollar has lost 85% since that day!
If you put 8/15/71 together with 8/5/11, you would have two of the worst days for working Americans.
Everyone knows the monetizing of the debt and unfunded commitments is coming. How much will the dollar be worth when the Fed is finished inflating our economy?
IF you champion the downgrade as meaning something, then it would be important to have the treasury rate follow suit. However more people are flocking to it. Basically S&P said this empty apartment building is unsound and should not be used. Then the next day it was fully occupied with tenants.
Google Pictures, search for: debt ceiling and Gold. Press on the chart that shows the relation between the the debt ceiling and the gold price. Its amazing.
I think Greenspan is still living in the 80's, so he forgot there's an internet and still thinks folks are totally ignorant about what debt monetization is and what it does.
Hey Peter! Guess What? Dylan Ratigan finally got it today! Too little too late... I remember years ago on CNBC he wouldn't let you get a word in while Joe Battataglia was blowing wind!!!
When Japan did a surprise attack on Pearl Harbor, the Dow gradually dropped 6% over a 2 week period. Now the entire world market goes down 6% on any given day because of the opinions of a rating agency or rumors about European banks. Investors are a bunch of sissies these days.
why is printing more money easier to pay off debt according to some people ? I m not sure to understand . I understand the fact that it favors exports and forces consummers to spend locally but aside from that why would it make it easier to pay off debt with devalued money ?
@solitaryfracture Gold isn't something you can make more of. Money on the other hand is easy to make, you just need some paper, ink and a printing press. Gold have always had an estethic value to us humans. Don't think of the value of gold as going up, but rather that the value of our paper currency going down. Gold will have the same value in a thousand years as it has now...it's only the paper currencies that's fluctuating.
@MrPeace4uall Well, the crude oil prices reflect what prices unprocessed oil is currently fetching at this time. Unprocessed oil doesn't just teleport it's way to your local gas station, you know. It goes through a series of processing and transportation first. If the price of crude oil stays low then eventually retailers will be able to afford to cut their prices to attract more customers and the price of gas will drop because the retailers are paying less for new gasoline.
This is being said about the London riots and soon to come to America.
To sum up --a society without morals.
"A society of looters created with MPs and their expenses, bankers and their bonuses, tax-evading corporations, hacking journalists, bribe-taking police officers, and now a group of alienated kids are seizing their chance."
I'm glad there is still someone out there who tells the truth. Thanks for your radio show and video's Peter. You got me into gold and silver, and it saved my family. We would be starving if it hadn't been for you.
Just heard on the news that the federal government is going to rent out all the foreclosed homes it owns. So instead of fixing the foreclosure problem by liquidating those assets back into the private sector they're going to become national landlords over the people.
”Human Freedom Rests on Gold Redeemable Money. There is no more important challenge facing us than this issue -- the restoration of your freedom to secure gold in exchange for the fruits of your labors.” – 1948.
"The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default." – August 2011. Alan Greenspan on NBC's Meet the Press.
"The United States can pay any debt we have because we can always print money" WHAT!!!!!! It completely BLOWS MY MIND that Greenspan could make such an outrageous statement and not be slapped into next week by the closest person to him! What is wrong with people? Are we that stupid that this arrogant excuse for a man could say this and no one flinches!? This is complete madness!
How in the world did Greenspan rise to the heights of America's monetary institutions while being so freaking stupid. Did that idiot really say having the ability to print your own money means their is no credit risk? That boggles the mind.
Can't understand that someone still belives the crap these rating agencies spout. They were all totally discredited during the subprime and just S&P is now very slowly coming to it's senses.
Peter ... you're getting more and more ridiculous with each passing week.. I used to idolize you.. your book was brilliant.. pull it together will you!
AAA for Zimbabwe!
ImperialArmour 1 week ago
They can print gold certificates though. There are 10 times more gold certificates than there is gold inventory. It's fractional reserve gold. They get away with it because very few purchasers take physical delivery of their gold. Buyers are none the wiser.
BOZ11 5 months ago
I like Peter's commentary in general(a bit too pessimistic) but nevertheless mostly good analysis. However, in this video he talks about how all countries can print money & pay off debt. I disagree. All countries hold debt in $. Other Cntrys can still print THEIR money and BUY $ & pay off debt, but it will lead to an immediate devaluation of THEIR currency. US, on the other hand, can print &pay-off, but bcos they dont have to go thru a FOREX mkt, will not see imm deval.(grad. inflation tho)
rezac05 6 months ago
@rezac05 makes sense up to the "they don't have to go through the foreign exchange market". How does the US not have to go through foreign markets? And how does this exempt the US from devaluation? when printing money to monetize government debt?
JpassTheTime 6 months ago
@JpassTheTime US does not need not go thru Forex (TO PAY THEIR DEBT),bcos their debt is already $ denominated. But others have to. And forex mkt set the prices of currency. With rgds to printing money, US already did it in 2009 when Fed bought 300B in treasuries..it did not devalue $ rght?. USD has a sp. status bcos it is the premier reserve currency for all countries and so demand will always be there..so gradual devaluation(inflation) will occur but not a sudden deval like peso crisis or ZWB
rezac05 5 months ago
@rezac05 i accept. but they can't spend forever. and it seems to me that the growth of government and extension of regulations and red tape on the private sector is the reason for the economy not recovering. So if what i just said has any validity, don't you think after the Debt/GDP ratio becomes more and more lopsided won't foreign creditors ease of us gov debt and then once they aren't holder to many dollar denominated assets, stop accepting dollars?
JpassTheTime 5 months ago
One question, what will be the few best solution when one day the U.S. Dollars finally collapse and the stock market plunged? Is storing gold and silver the best option for the national leaders? Or maybe there more solutions out there?
ltmikepowell 6 months ago
In Peter's reference to Greenspan "illustrious maestro". Hilarious
multicubby 6 months ago
@multicubby Come on, if Greenspan is in say, chaos of French Revolution, he is GOOD AS DEAD (Guillotine here it come).
ltmikepowell 6 months ago
@ltmikepowell right, but someone like him was. Lets hope history doesnt repeat itself
multicubby 6 months ago
nice video :)
An71qu3 6 months ago
This has been flagged as spam show
Financial Enemy of Greece, Ireland, Italy, Spain, Portugal, & America ----- Jew
1. Goldman Sachs CEO, Lyold Blankfein - Jew
2. IMF Deputy CEO, John Lisky - Jew
3. Ex IMF CEO, Dominic Strauss - Jew
4. World Bank CEO, Robert Zoellick - Jew
5. Ex World Bank CEO, James Woolfesen - Jew
6. Fed Chairman, Ben Bernanke - Jew
7. Ex Fed Chairman, Alan Greenspan - Jew
8. Obama Treasury Secretary, Timothy Geithner - Jew
9. George Bush Treasury Secretary, Hank Paulson - Jew
Stevie68000 6 months ago
HaHaHaHa....."we will never default because we can just print money".....WOW.
I guess that movie "Catch me if You Can" had a meaning afterall.....if you can print your own money you will be rich.
hoochymama 6 months ago
@hoochymama "we will never default because we can just print money"
That statement makes no sense right.? Unlike you the US economy will not retire at age 65. Unlike you the US is an economic super power full of innovation & entrepreneurs. "Printing" or in other words "Borrowing" at such unbelievable low rates set by the market is a very smart thing in a period of Global crisis. Obviously you never ran a large company to understand. Yet you feel uniquely qualified to comment on economics. Hm..
Minethis1 6 months ago
@hoochymama You just give China a chance to execute Rothschild strategy which has worked on Great Britain back in 1815.
ltmikepowell 6 months ago
have.. However if your goverment has a lot of doller holdings ,they should look to get out of them.
xMaXiMuSx 6 months ago
*two of the ...
upgrade01a 6 months ago
no, it's a printing press that can print federal reserve notes.
upgrade01a 6 months ago
the tripple A rating of fannie may and freddie mac was correct, because they know who are the owners of the fed.
upgrade01a 6 months ago
you can trust us to print more money, where you cannot trust china to print any federal reserve notes.
upgrade01a 6 months ago
Actually, you can print gold components with some of the new ink jet-like technologies ;)
upgrade01a 6 months ago
This is an excellent debunking/exposition/rant by Peter. He has a knack for illustrating the absurdity of statist policies, and helping you WAKE UP.
TimothyADonaghue 6 months ago
Hey sir, greetings.
I would like to know that if, I mean if the U.S. Dollars' Ponzi Scheme finally collapse one day, what will happen to countries like China? And how they counteract this potential calamity? Buy gold and silver, or manufacture more? And will the U.S. government use military action on those who dumped the U.S. Dollars?
ltmikepowell 6 months ago
@ltmikepowell
Not much.. China will lose values in its dollar holdings but they still have their own currency, which if allowed, will aprecciate in value and they regular Chinese will be much better off.
xMaXiMuSx 6 months ago
@xMaXiMuSx Well, with conventional wisdom it is. But we may need to consider that the export might hurt a little (or a lot) if they pull the plug of the U.S. Dollars.
And let's hope there will be no military action against all those countries that dump the U.S. Dollars or once rejected the I.M.F. "help" in the past.
ltmikepowell 6 months ago
@ltmikepowell
They won't need to export anything.. They have over a billion people.. If they end the dollar peg and allow the market to determine the real purchasing power, the chinese will have the purchascing power to buy all the goods they send us here.. Their standard of living will SKYROCKET.
xMaXiMuSx 6 months ago
@xMaXiMuSx Just asking, is high standard of living means things are expensive to buy like some peoples said?
ltmikepowell 6 months ago
@ltmikepowell
No their goods will be CHEAP since they produce so many of them. It means there is paper money chasing MANY goods meaning that it will be cheap.. IN countries where they produce nothing or very little it means they have a lot of paper money chasing fewer goods means that they will have HIGH prices..
xMaXiMuSx 6 months ago
@xMaXiMuSx Since you mentioned about the productivity. My country Malaysia is the major producer of palm oil, rubber, petroleum and tin. Will my country's export commodities prices shoot up through the roof if U.S. Dollars collapse? Will it effect my countrymen purchase power? And since my country got major agriculture sector, do you mean that my country will suffer less than countries like Singapore, U.S. and U.K.?
ltmikepowell 6 months ago
@ltmikepowell
I dont know about Malaysia's internal central banking policies, so I cannot comment. But a productive country should have cheap prices and a high standard of living if the goverment and the central bank has responsible policies. If the US dollar collapses, your exports will go up in price in terms of the dollar but in terms of other currencies that are more stable. Once again I just dont know much about Malaysia's internall situation to be sure of what sort of impact it will
xMaXiMuSx 6 months ago
@xMaXiMuSx At least my country's central bank known as Bank Negara Malaysia is following rules and Acts that my country's parliament passed/permitted. Which unlike the Federal Reserves which is more privately owned. Can do some research on Wikipedia.
ltmikepowell 6 months ago
@xMaXiMuSx Oh yes, forgot to say this.
Maybe China can use Rothschild family's strategy that once did to Britain after the Battle of Waterloo. Just wait till their currency collapse into the abyss, then they bought up the U.S. stocks and companies with just a few cents (imaginary value that is).
Well, sounds dirty. But it might work if they wish to try. I will use that strategy as well to gain more.
ltmikepowell 6 months ago
@xMaXiMuSx Sorry to ask this question which even you won't predict, but just curious, will U.S. launch military actions if countries like China, Russia, Brazil, India and other U.S. Bond holders one day dump U.S. Dollars? Because I got a sense that they might use it consider most of their military deployment has moved to Pacific regions near China and Russia.
ltmikepowell 6 months ago
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God loves you, and Jesus Christ is the way to Him. Jesus died for our sins, was buried and rose again on the 3rd day so that all who believe in Him will be saved from Hell and have eternal life. Eternal life is a free gift from God to all who believe on the Lord Jesus Christ.
JesusPaid4You 6 months ago
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THE DREAM TEAM President Ron Paul. Gov Gray Johnson should be his vice president and for a transition period Thomas Sowell or Robert Tollison to head the federal reserve. Peter Schiff economic adviser and Tom Woods would be his press secretory.
AlphaSigma 6 months ago
thank god I don't worship Warren Buffet like some zombies
Tomta20012 6 months ago
tt
xMaXiMuSx 6 months ago
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Enemy of Greece, Ireland, Italy, Spain, Portugal, Europe, & America ---- Jew
1. Goldman Sachs CEO, Lyold Blankfein is Jew
2. IMF Deputy CEO, John Lisky is Jew
3. Ex IMF CEO, Dominic Strauss is Jew
4. World Bank CEO, Robert Zoellick is Jew
5. Ex World Bank CEO, James Woolfesen is Jew
6. Fed Chairman, Ben Bernanke is Jew
7. Ex Fed Chairman, Alan Greenspan is Jew
8. Obama Treasury Secretary, Timothy Geithner is Jew
9. George Bush Treasury Secretary, Hank Paulson is Jew
Stevie68000 6 months ago
How does "FAiL"An Greenspan have the nerve and audacity to speak with any authority after what his policies have done to this country? You're an Epic Failure now go away and accept the fact that you've been consistently wrong wrong wrong.
Teyec00n 6 months ago
Rational and intelligent Republicans and Democrats need to rally together and support Ron Paul. He's the only candidate that people from both parties can identify with and the only candidate that can bridge the ideology gap between the parties. More importantly, he doesn't cater to the extremists in his own party which is why Fox News won't give him any press coverage. He's our last chance at rational governance that won't bend to irrational influence.
Teyec00n 6 months ago
hey Alan Greenspan! hey you!!! you are insane!!! check yourself in to the nearest psychiatric unit. but if only you were just crazy i would pity you, but i know that you were and are doing this for profit. so may God repay in just for what you've done to this great Country and its People. your judgment will come. and you call yourself a Jew??? Ayn Rand is rolling in her grave you bastard! :))
Rawego 6 months ago
@Rawego Come on, just hang that mobster high, I mean high up at the Empire State Building for those Wall Street robbers to watch clearly.
ltmikepowell 6 months ago
kill the messenger!!! we don't want to know the truth, we are happy with our heads in the sand!!! keep buying stocks and treasuries!!! do not, i repeat, do not buy any gold or silver!!! must keep head in sand and trust Krugman!!! Krugman will save our world from ALIENS, he said so!!!
Rawego 6 months ago
Aye, Johannes Gutenberg is the most influential man of today's economy.
BACUS666 6 months ago
rick perry kills little girls
flaank 6 months ago
greece has a printing press i hope
smedheat 6 months ago
Geithner and Bernanky are now piling up photos of gold bars
because they haven't seen real gold lately
racenemo 6 months ago
they are paying what they owe in Zimbabwe dollars , bwahhahahaaaa
that was awesome
VivaMydick 6 months ago
what's your take on Rick Perry Peter ?
FlyingFox1971 6 months ago
@FlyingFox1971 Rick Perry is a fraud. He was invited and attended a Bilderberg Group meeting.
1XMarksSpot 6 months ago
@1XMarksSpot agreed. Rick Perry is a corporate shill. vote for RON PAUL!!!
Rawego 6 months ago
Gold is ready to shoot again, silver will follow when people running out of money to buy gold.
jnnycliff 6 months ago
Thumbs up is you believe that woman should be in the kitchen.
ThatBrowser 6 months ago
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If the Fed can print money at its whim and fancy, it gonna nake some people very very rich. I better apply to head the Feb. Any supporters? I guarantee you'll be handsomely rewarded, he he.
milduser1 6 months ago
If the Fed can print money at its whimp and fancy, it gonna nake some people very very rich. I better apply to head the Feb. Any supporters? I guarantee you'll be handsomely rewarded, he he.
milduser1 6 months ago
But printing money is a tradition.
JRCrowley 6 months ago
I saw this comment by Greenspan on that show, and I must honestly say I jumped in my chair when Greenspan said that !
nor32 6 months ago
Gold is not going to work. Money is as will be based on faith in making a promise. White elites, black elites, asian elite, hispanic elites have made lots of bad promises over the last 100,000 years. all, monetary policy from history has corruption, time to wake up and start new
HillTribeman 6 months ago
The USA is already in default. The USA changes the rules on COLA for social security benefits. The USA dilutes and depreciates the currency to be able to pay off debt with a cheaper currency is a default. Meeting social security commitments while changing the rules for COLA and meeting them with a depreciated and diluted currency is a default. A default by any other name is still a default.
bkdmd 6 months ago
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Jew executed by US Government :
1. Crime : treason against America by supplying atom bom secrets to Soviet Union.
2. Julius Rosenberg - killed on 06/19/1953
3. Ethel Rosernberg - killed on 06/19/1953
Stevie68000 7 months ago
Didn't Peter state he is short treasuries? Didn't treasury hit all time highs? I wonder how that trade is working out?
Peter said interest rates spike when QE II ended? How is that going?
Wasn't China suppose to sell $'s and we would collapse? how is that going?
Didn't Peter say that we should be doing what EU is doing with Austerity? How is that working out?
Are the markets not selling off due to Deflation and Not Inflation as Peter stated? You people really need to wake up!
Minethis1 7 months ago
@Minethis1 concerning the interests rates, the next debt ceiling will lead to a AA- or less and you will see the rates going up
china is stuck with the problem too. other countries are worst than USA. this is a world collapse.
Peter missed it with EU
Inflation is already running. when I go to the grocery store, it is more expensive. what created a deflation is the cost of gaz going down but if you don't have a car, you wont suffer
MsH1h1h1h1 7 months ago
@MsH1h1h1h1
1. Inflation is not your Grocery store. Deflation is the problem!
2. Debt ceiling does not matter in a "balance sheet recession"!
3. In a deflationary world income drops faster than price.
4. This is not a world collapse. This is stupidity from the EU with their dumb ass Austerity measures during a recession which is causing their economies to contract. They are the 2nd biggest economy. If they ain't going to be buying who will the world sell to? Only the US? Good luck!
Minethis1 6 months ago
@Minethis1
Lol You are clueless.. But you could be joking right?
xMaXiMuSx 6 months ago
@xMaXiMuSx Sorry your the one who is clueless. You don't even understand what I am talking about. It's like trying to have a conversation about Physics with a retard.
Minethis1 6 months ago
@Minethis1 China is keeping its money devaluated by 25% forcing the other countries to take extreme measures. I think most of the people don't understand what Bernanke and others are trying to do because this is extremely complex. Unfortunately like China, they cannot tell too much bout their plans. Like a business, they cannot divulgate what they are doing too much because the competition will adapt quicker. I am sure though they are working for the best.
schassse 6 months ago
@schassse The truth is it is complex. China and emerging markets have played a big part in all of this. This is the first time that we have experienced a true Global economy and Global recession that has crated huge Global imbalances. Despite these challenges The US is fairing extremely well considering. 99% of the people think in black and white not in Relative terms. They do not understand that economics is a paradox. Ie reduce spending and debt and deflate and we will all be great! Wrong!!!!
Minethis1 6 months ago
@Minethis1 I agree with you
schassse 6 months ago
@schassse Reduce spending and you reduce jobs unemployment sky rockets (ie EU.) Job loss = less money spend in the economy more job loss. Income falls faster then Prices since people will be always will to do a job for less money which means less money to spend in the economy even more job loss.This leads to a deflationary spiral to Zero! A deflation problem can not be fixed with more deflation! (IE Austerity measures, increase taxes etc.) People think lower prices with same income! Wrong!!!!
Minethis1 6 months ago
@Minethis1
No.. There is no goverment cuts anywhere.. All they are doing is stealing from your benefits to pay the bond holders.. IN order for the economy to grow again, the goverment MUST decrease taxes and stop printing money to bail out bad investements and failed companies and allow the economy to reallocate capital efficiently(it's being used to prop banks).. and Of coures you need to default on your debt because it can NEVER be repaid.. Interest rates MUST go up..
xMaXiMuSx 6 months ago
@xMaXiMuSx Blah! Blah! Blah! Same old horse shit just a different mouth from an ignorant individual that is clueless on economics!
1. Unlike you the US productive output does not have to retire! Debt can be paid off!
2. US Bond are at record highs! No One cares what you think rates "should be" Your opinion is fart from reality!
3.Decrease taxes? What do you think will happen to Tax revenue, Debt & unemployment?
4. You want higher interest rates to make borrowing more expensive to start a Biz?
Minethis1 6 months ago
@xMaXiMuSx Boy is you Crazy! You want to raise the cost of all borrowed money both present and future during a recession? and reduce the Tax revenue even further? What Kind of weed you smoking?? And you want the US debt reduced on top of that? Hahahahah! O wait and do away with all big banks? Surely you must be thinking that while we do all these real smart things your income will remain or increases. Right? Forget weed what kind of Crack you smoking? WOW! Ignorance gone wild! Speechless!
Minethis1 6 months ago
@Minethis1 Spending increases makes unemployment go UP. Decreasing spending and taxes frees up resources and unemployment goes DOWN. Where do you think the government gets the money from? Under a secret mattress? Any moron who thinks this is a deflationary problem isn't worth listening to.
itachi705 6 months ago
@itachi705 >>>> "Spending increases makes unemployment go UP." <<<<
Right there that statement shows just how ignorant you are on economics. You need not say any more to display your idiotic thinking.
If that were a true statement Europe countries should have been kicking ass all over the place! Instead they have 20% unemployment and 30% bond yields. LOL! You are a champion of economic Ignorance! Be Proud and say it Loud!! Unreal!
Minethis1 6 months ago
Minethis1 6 months ago
@Minethis1
The reason China doubles their money supply is because they have to in order to maintail the dollar peg and the value of their dollar holdings.. But it's a terrible policy for their people.. ALL of the progress and the GDP growth that would bring down the cost of living way down is WIPED out by them printing all the money to maintain the dollar peg..
xMaXiMuSx 6 months ago
@xMaXiMuSx Do not confuse monetary inflation and Price inflation. China's productive output has grown tremendously which in it's self causes price inflation. They then CHOSE to PRINT at crazy exponential growth rate which caused Monetary inflation on top. It is NOT the US fault! They are the ones who flooded the world with their money and were willing to buy the Worlds treasuries at any price which Caused this imbalances in interest rates! US told them Stop printing! They said NO! Here we Are!
Minethis1 6 months ago
@Minethis1
No.. productive output does NOT cause price inflation, it cause deflation you idiot.. The rest of it shows how clueless you are.. Yes our goverment told them to stop printing because we want their currency to rise and our to fall.. It's one way to default on our debt because the dollars they own become worthless, which is the only reason they are maintaining the dollar peg..
xMaXiMuSx 6 months ago
@xMaXiMuSx Hahahahah AGAIN! you show your ignorance little grass hopper! Of course it causes price inflation! Just cause your little brain doesn't know or even worse doesn't understand it. Doesn't mean it doesn't occur! Sorry try again!
Thx for proving my point that only the ignorant or laymen follow Peter and want Ron Paul for president!
Like I said B4 You are a champion of economic Ignorance! Be Proud and say it Loud!!
Minethis1 6 months ago
@Minethis1
You are a fu cking idiot.. what causes inflation across the board in the incrase in the supply of money.. Being productive means you have more goods chasing less paper money.
xMaXiMuSx 6 months ago
@xMaXiMuSx Look up "Price inflation" Little man! Read a book for once in your life!
I know you are but what am I?
Minethis1 6 months ago
@xMaXiMuSx "Being productive means you have more goods chasing less paper mone"
No! It means prices go up because aggregate demand increases usually associated low unemployment periods and a thriving economy. Velocity of money increases pushing up aggregate income which pushes up prices for goods.
Unlike today when unemployment is high, velocity of money is low, credit is contracting and the economy is deflating causing aggregate demand to fall pushing prices down.
Minethis1 6 months ago
@Minethis1
you are clueless..
Reducing spending with tax frees up capital for the private sector.. The difference there is NO real cuts anywhere to free up money, all they are doing is stealing money of your promised benefits to pay the bankssters/bondholders.. Deflations means = lower cost of goods and items for employers meaning that there is more capital freed up to eploy people.. Prices COME DOWN to that point where they should normally be before the excessive money printing..
xMaXiMuSx 6 months ago
@schassse The FED is a private bank with a certain objective: profit. I tend not to put blind thrust into such people's hands.
VanWorkum 6 months ago
@VanWorkum the profit is probably very minimal: pay to operational costs and salaries. obama, bernanke dont have large salaries like corporation top heads
schassse 6 months ago
@schassse I think the profit is huge, but does not go to the public faces of the bank, but its investors.
VanWorkum 6 months ago
@Minethis1
i can only tell you my experiances
i bought gold listening to peter at 500 an ounce
im rich beech
now when you are mowing my lawn should i laugh at you or cry for you
ahhahahahah
and when it hits 5000 you can wax my ferrari
winner502 6 months ago
@winner502 A typical ignorant response from a moron.
1. You have no experiences.
2. You are taking someone else s word on you tube at that to make a financial "investment".
3. You think you are rich. A relative term.
4. You have no idea when to sell your gold therefore you will ride it all the way back down to a loss since you have been dollar cost averaging all the way up for years.
5. The fact that you would invest in a loosing asset "Ferrari" is more proof you are clueless and a moron!
Minethis1 6 months ago
@Minethis1
havnt taken any one elses word im rich and your poor and mad
just go away poor poor baby
and i want 2 coats of wax on that biff
winner502 3 months ago
Everyone I tell about China's AA-, all say its because they are communist and have a habit of change the rules.....
I guess that's true....I know this one country that use to back their currency with gold and you could even redeem it for gold on the spot. Then one day they decided to get off the gold standard and screw everyone over. Everyone now holding the bills were no long able to redeem their notes for the gold that was promised.... all they have ish this piece of paper......
sendyoshit 7 months ago
People need to realize that the dollar will go UP anytime that there is a major selloff. Why? Because when you sell your stocks, you are automatically converted into a cash reserve fund(like the giant FDRXX Fidelity Cash Reserve fund). You aren't asked if you want your stock sale to go into francs, euros, or gold. You AUTOMATICALLY go into dollars.
RAMKING61 7 months ago
if an European wants to buy oil, he has to buy dollars first to pay for the oil. If an American wants to buy oil and doesn't have any dollars, he can print them and pay for the oil.
The problem: Saddam start accepting euros for his oil. Result: war.
The way things are going, some idiots just might trigger the 3rd world war to re-set or re-start the capitalism.
slotalent 7 months ago
There has never been a head of the Federal Reserve since 1913 that was not Jewish. Can we get some equal opportunity here? Maybe a token Christian once in a while?
gringott12 7 months ago
@gringott12 A man named Deng Xiaopeng once said "It doesn't matter if a cat is black or white, so long as it catches mice." I do agree that we should get rid of the federal reserve but the heads of the federal reserves religious Belize's do not matter
dukee155 7 months ago
@dukee155 I hope you are correct, but almost 100 years of the special club taking control is hard to ignore. Media, finance, government, they are holding the reins. Of course, most Jews I have known in my life have nothing to do with it - because the Jews I meet at my level of society are certainly not controlling anything. I lived in Israel for 2 years, great time & people. That doesn't change the bad actions of the ones on top.
gringott12 7 months ago
@gringott12 many Jews have been successful in getting into the elite. I am a jew my self I think it is a good thing that so many have been successful. If I met someone who is in politics and happened to be a jew I might not agree with them because most of them are democrats but that is nothing with Judaism its just the way they believe. Also jews have been persecuted through history and now we made something of ourselves unlike the blacks who want to punish the ones who work and take everything
dukee155 7 months ago
@dukee155 Would you say the same things if every Fed head since 1913 was black, if every head of every major media in the USA was black, if the majority of actors in the various media was black? Blacks are 12 per cent of the population. Jews are at best 1.2 per cent. Seems like they have a ruling club others cannot join. Care to guess the percentage of Jews running the major Universities? I am not saying all Jews are bad, no more than all Sicilians are Mafiosos. Hard to ignore the facts.
gringott12 7 months ago
@gringott12 It is not a secret club. Jews did not get a special privileges ever it just so happens that Jews worked really really hard during the industrial revolution and still to this day that they are able to have high positions. If you want to flip flop it to have Jews be what black people are today lazy wanting to get special privileges from the government if I was looking at it I would say the same.
dukee155 7 months ago
@dukee155 I work hard. How to I get to be head of the Federal Reserve? Change my middle name to Shalom? Sorry, working hard does not take over every major media company, every major bank, the Federal Reserve. Something more going on there my friend. If you want to disbelieve your lying eyes, fine. If you really think that 1.2 percent of the population controls the rest through hard work, you are pretty thick and hard work won't help you.
gringott12 7 months ago
@gringott12 look at Bernanke he got a 1600 on his SAT he went to Harvard and MIT. Look at Peter Schiff Sure he does not have a degree from Harvard but he runs a successful brokerage in Connecticut a very expensive place to live. You are to tell me this is all because of their last names. Not every Jew is successful I have an uncle who works at a hotel carrying peoples luggage.
dukee155 7 months ago
@gringott12
Bernanke is just a front man.. The real power players are these major shareholders of the big corporations and so on.
xMaXiMuSx 7 months ago
Yes, we have a printing press, but there's more to it than that. ALL OF OUR DEBT IS IN DOLLARS. Thus, we don't have to face the FX market to pay our debt. I gotta agree that the criticism S&P is facing is all due to political pressure, but the rating of our country's debt is a little more complex than do you have a printing press.
1chrisellis 7 months ago
Where did common sense go?
xploddan 7 months ago
Gold back dollars don't escape the trap of printing money and gold itself is far to limited a resource to allow for a dynamic economy on it own. This is why, under gold back monetary systems banks typically had vouchers of credit that made up the majority of the money supply. Instead of going back to a system that never really existed, a constitutional amendment that restricts government created inflation (printing $ outside replacement of old $) to 1%-1.5% a year would work just as well.
xpiher 7 months ago
@xpiher And before people say "we don't print money anymore" that's not the point. The government still actively inflates the money supply through adding 000s on its balance sheet digitally.
xpiher 7 months ago
The Gear Schiff.
TheJimmyNewc 7 months ago
Those who know....must act stupid
fursatali 7 months ago
Warren Buffet is a huge contributor to the socialist party.
sexydarin1 7 months ago
Paper chase, Ben Bernanke’s on a paper chase.
Paper chase, Mad Benny’s on a paper chase.
Hide your trees, hide your twigs, hide your cotton, hide your wood.
Cause Mad Ben’s on a printing frenzy, printin’ while the printin’ ‘s good...
Tressco 7 months ago
Monetizing the debt is NOT about actual 'printing' of money, it's about increasing the money supply by pushing a key on a computer and increasing the number digitally.
We need to stop using the bogus term 'printing'. The amount of greenback currency(M1) in circulation remains within a certain range. M1 represents currency, traveler's checks, demand deposits, and community banks.
'Printing' is a figurative term, not a literal term. It's the DIGITAL MONEY SUPPLY that has massively increased.
RAMKING61 7 months ago
@RAMKING61 but I use a credit card to buy everything. I pay it electronically from my checking account which is funded by a direct deposit from my employer. The only cash I use is to operate machines at the laundromat.
natdavi 7 months ago
The day should live in infamy. The day is 8/15/71. The 40th anniversary is monday! The value of the dollar has lost 85% since that day!
If you put 8/15/71 together with 8/5/11, you would have two of the worst days for working Americans.
Everyone knows the monetizing of the debt and unfunded commitments is coming. How much will the dollar be worth when the Fed is finished inflating our economy?
bkdmd 7 months ago
Watch how the S&P rallies 20% + up in the next few months! Peter is an excellent indicator for picking bottoms!
XESTISS 7 months ago 2
IF you champion the downgrade as meaning something, then it would be important to have the treasury rate follow suit. However more people are flocking to it. Basically S&P said this empty apartment building is unsound and should not be used. Then the next day it was fully occupied with tenants.
Varix22 7 months ago
Lol @ Zimbabwe AAA rating. I only laughed because it's 100% truthiness.
tonybravada 7 months ago
AA minor rating MUHAHHAA
That`s low :)
LiqiangEatShit 7 months ago
What? China has a AA minor rating? Oh, that's because they hold 2 trillion US debt!
lichtbundel 7 months ago
Google Pictures, search for: debt ceiling and Gold. Press on the chart that shows the relation between the the debt ceiling and the gold price. Its amazing.
geminirius 7 months ago
This has been flagged as spam show
Enemy of Greece, Europe, & America ---- Jew
1. Goldman Sachs CEO, Lyold Blankfein is Jew
2. IMF Deputy CEO, John Lisky is Jew
3. Ex IMF CEO, Dominic Strauss is Jew
4. World Bank CEO, Robert Zoellick is Jew
5. Ex World Bank CEO, James Woolfesen is Jew
6. Fed Chairman, Ben Bernanke is Jew
7. Ex Fed Chairman, Alan Greenspan is Jew
8. Obama Treasury Secretary, Timothy Geithner is Jew
9. George Bush Treasury Secretary, Hank Paulson is Jew
Stevie68000 7 months ago
Japan has debt that is 90% internal. That helps. Citizens of japan hold all the debt.
g00se99 7 months ago
Awesome video. Awesome ending :)
How can someone like Greenspan get a work in economy? Even more so be president of the FED?
What a joke.
JohanKH 7 months ago
nothing is going to stop this double dip recession. NO one. Not even Ben.
solitaryfracture 7 months ago
1 QE, 2 QE, 3 QE, WAR!
offdaheez 7 months ago
I think Greenspan is still living in the 80's, so he forgot there's an internet and still thinks folks are totally ignorant about what debt monetization is and what it does.
seanlaca 7 months ago 8
Hey Peter! Guess What? Dylan Ratigan finally got it today! Too little too late... I remember years ago on CNBC he wouldn't let you get a word in while Joe Battataglia was blowing wind!!!
WealthGuardShow 7 months ago
@zyjelly I guess when you make it to the top, you sell out to something and get paid
edwardwills 7 months ago
When Japan did a surprise attack on Pearl Harbor, the Dow gradually dropped 6% over a 2 week period. Now the entire world market goes down 6% on any given day because of the opinions of a rating agency or rumors about European banks. Investors are a bunch of sissies these days.
rxbladess 7 months ago
@rxbladess
Traders run the market dumbass. There are no job so every fucking one is a trader on E trade shorting stocks.
solitaryfracture 7 months ago
You mean to say Obama cannot turn lead into gold??? Hmmmm...
pepeledog 7 months ago
That idiots like Greenspan, Obama, Boehner, Bush, Krugman, et al, can rise so high is reassuring to me. At least I see the folly of their bullshit.
doctorx777 7 months ago
why is printing more money easier to pay off debt according to some people ? I m not sure to understand . I understand the fact that it favors exports and forces consummers to spend locally but aside from that why would it make it easier to pay off debt with devalued money ?
alex630710 7 months ago
Comment removed
alex630710 7 months ago
GOLD! That's our real money. It doesn't work for bandits and fraudsters though.
Panter4 7 months ago
@Panter4
Gold is worthless too dumbass. Just wait when that bubble bursts. Only thing that will be worth shit will be ammo and food.
solitaryfracture 7 months ago
@solitaryfracture Gold isn't something you can make more of. Money on the other hand is easy to make, you just need some paper, ink and a printing press. Gold have always had an estethic value to us humans. Don't think of the value of gold as going up, but rather that the value of our paper currency going down. Gold will have the same value in a thousand years as it has now...it's only the paper currencies that's fluctuating.
FatherTuck 7 months ago
@schiffreport or anyone esle how come crude oil is down to $81 barrel and the price at the pump has not went down yet?
MrPeace4uall 7 months ago
@MrPeace4uall Well, the crude oil prices reflect what prices unprocessed oil is currently fetching at this time. Unprocessed oil doesn't just teleport it's way to your local gas station, you know. It goes through a series of processing and transportation first. If the price of crude oil stays low then eventually retailers will be able to afford to cut their prices to attract more customers and the price of gas will drop because the retailers are paying less for new gasoline.
squareatheist 7 months ago
I hope that USA still has gold.
pawoj20 7 months ago
i see why the that nitwit at the "schitt report " has nothing but positive supportive comments ,he deletes anyone who isnt a bufoon .
woodenmajor 7 months ago
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Enemy of Greece, Europe, & America ---- Jew
1. Goldman Sachs CEO, Lyold Blankfein is Jew
2. IMF Deputy CEO, John Lisky is Jew
3. Ex IMF CEO, Dominic Strauss is Jew
4. World Bank CEO, Robert Zoellick is Jew
5. Ex World Bank CEO, James Woolfesen is Jew
6. Fed Chairman, Ben Bernanke is Jew
7. Ex Fed Chairman, Alan Greenspan is Jew
8. Obama Treasury Secretary, Timothy Geithner is Jew
9. George Bush Treasury Secretary, Hank Paulson is Jew
Stevie68000 7 months ago
This is being said about the London riots and soon to come to America.
To sum up --a society without morals.
"A society of looters created with MPs and their expenses, bankers and their bonuses, tax-evading corporations, hacking journalists, bribe-taking police officers, and now a group of alienated kids are seizing their chance."
TheWBAH 7 months ago
LOL man... the phone call thing (printing press) really cracked me up. hes amazing
rothschilds666 7 months ago
Print away Bernanke, you retard.
javabarbarian 7 months ago 22
ring ring- hello
you gotta printing press?
Ye
Is it working?
Ye
Got paper?
Ye
Got ink
Ye
well done, triple A baby
conor34040 7 months ago 33
I'm glad there is still someone out there who tells the truth. Thanks for your radio show and video's Peter. You got me into gold and silver, and it saved my family. We would be starving if it hadn't been for you.
Keep up the good work.
SuperSpidey25 7 months ago 3
PET[A]R, PET[A]R, PET[A]R!!!!!!!!!!!!!!!!!!!!!!!
bykashka75 7 months ago
Greenspan (among others) should be HANGING from a street light
Unkn0wnGuy 7 months ago
Just heard on the news that the federal government is going to rent out all the foreclosed homes it owns. So instead of fixing the foreclosure problem by liquidating those assets back into the private sector they're going to become national landlords over the people.
KenMacMillan 7 months ago
You forgot ... Obama gave his government an "AAA rating" too!
ElNeedle 7 months ago 3
soooo much common sense from Peter. Alan Greenspan, although intelligent, seems to have ZERO common sense, much like Ben Bernanke .
titan13131 7 months ago 3
Thanks peter
This world is just bonkers
Tomta20012 7 months ago
I think Greenspan had a senior moment lol!
Cinemaguy2007 7 months ago 4
God! printing money to pay off debt is the same as default! Goddamit.
YochananT 7 months ago
No economist makes me laugh more then Peter Schiff.
Another great sound bite Peter Schiff...rest your throat...we need you.
McRocket 7 months ago 3
”Human Freedom Rests on Gold Redeemable Money. There is no more important challenge facing us than this issue -- the restoration of your freedom to secure gold in exchange for the fruits of your labors.” – 1948.
Howard Buffett
U. S. Congressman from Nebraska
Father of billionaire investor Warren Buffett
iannetta11 7 months ago
"The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default." – August 2011. Alan Greenspan on NBC's Meet the Press.
END THE FED !!! PAUL/SCHIFF 2012 !!!
iannetta11 7 months ago 2
"The United States can pay any debt we have because we can always print money" WHAT!!!!!! It completely BLOWS MY MIND that Greenspan could make such an outrageous statement and not be slapped into next week by the closest person to him! What is wrong with people? Are we that stupid that this arrogant excuse for a man could say this and no one flinches!? This is complete madness!
areyouready22 7 months ago
S&P can just shove thier "raise taxes" BS! Higher taxes does NOT=more revenue god dammit!!
weelgunny 7 months ago
How in the world did Greenspan rise to the heights of America's monetary institutions while being so freaking stupid. Did that idiot really say having the ability to print your own money means their is no credit risk? That boggles the mind.
Peter Schiff for head of the federal reserve.
Y2kplaya92 7 months ago
Can't understand that someone still belives the crap these rating agencies spout. They were all totally discredited during the subprime and just S&P is now very slowly coming to it's senses.
MushroomCloud666 7 months ago
Greenspan sounds like a heroin addict.. Bweeuuuhhh, we can always rob someone to pay the heroin..
frankknopers 7 months ago 3
you know what they stay about sticking your neck out .
jasebishop 7 months ago
3:37 to 4:50 is hilarious! HAHAHAHA :D
ThorkilKowalski 7 months ago
THIS VOICE DOES NOT SOUND LIKE PETER SCHIFF TO ME. SOUNDS LIKE AN IMPOSTER. GOOD VID THOUGH
PlatinumGordon 7 months ago
Peter ... you're getting more and more ridiculous with each passing week.. I used to idolize you.. your book was brilliant.. pull it together will you!
MrIaninlangley 7 months ago
Fantastic video, once again.