9/12/2008- Ron Paul Advisor Peter Schiff On Your Money

[ethogenic]

economic update!

/watch?v=P1qOMCBLIB0

[KimInLosAngeles]

Our economy is in a crisis.

Prepare for your future, folks!

FDIC has about $35 billion & it's backing $3 trillion.

If Washington Mutual, the LARGEST savings bank in the U.S., goes belly up, some financial experts say that not lot of money will be left in FDIC.

Washington Mutual stock:

$39.25 on Sep. 19, 2007

Today's price is $2.25

FDIC says 117 banks are in trouble.

[hokieneer17]

I never believe the government will do anything "temporarily". Let's see what else was suppose to be temporary: Social Security, homeland security, war in Iraq. Anytime our national government creates a "program", even with the best intentions of it being a temporary fix, it almost ALWAYS remains in action for so long that people forgot what it was like without that program (see the FED).

[wakeuppeople80]

Please visit: youtube's /user/PublicFoodie - She was a Ron Paul supporter who's now for OBAMA. Curious? Check it out. Here's a hint, you need 270 electoral votes to win which RP unfortunately :( cannot get. And you don't need to even like Obama, but it's a vote to keep McCain out of the white house. Some voted for Kerry just to keep Bush out of the WH. Think the election's already decided? Get an absentee ballot ordered (HAND COUNTED VOTES).

[MrSky]

I do believe that Obama is a better choice than McCain. However, that fact will not stop me from voting the best presidential running candidate, even if it means to waste my vote.

[silkyang]

I stand in agreement with you. A vote your conscience can live with is never a wasted vote....because a vote for one of two evils is still a vote for evil.

[jokertim777]

So Dan says, "the idea is, if we can just muddle along for a few years... hopefully these losses won't have to be realized."

Really? You seriously just said that on national TV? That's a potentially career ending statement.

That can't really be "our plan." That is actually the oppostite of a plan. That is hiding under a blanket and pretending that if you can't see the problem, it'll just go away.

Ridiculous.

[Budvb]

Bush's may be a genius though if you think about it! He is getting the Gov out of the Markets by making it all blow up through a bit of Tough Love! We will have to see how things turn out in the End instead of the Now. The Future will tell what really happen then of what is happening! I hope we don't turn communist and this Really blows up the Gov. So they learn there lesson on how bad a Gov can be if you allow it to run your Life. We need to go back to a Constitutional Government Fast Very Fast

[ProspectorSam]

It's always good to see Schiff inject some baseline sanity into a TV program. Seriously, I'm always amazed that any of these collectivist media entities allows him on. It's amusing to watch what inevitably happens.

[thomasst2]

Unfortunately, we didn't learn our lesson 3 central banks ago. I encourage everyone to go to download and read Murry Rothbard's "History of Banking in the US". Bankers and Govt have been trying to perfect the Fiat currency and central banking for years, failing every time due to inflation and intervention. What has helped this one last longer than 20 years is the dollar as the world reserve currency, allowing us to borrow from the rest of the world for low interest rates.

[thomasst2]

You can Murray Rothbard's work at the Ludwig von Mises Institute website

[ronpaulrevolution]

the sh*t is just starting to hit the fan. schiff is one of the only sober minds in the msm. brace for the worst in the next 2-5 years.

[Paetaor]

The govt keep slowing down the pulling off of the band-aids that they are trying to patch this mess up with.

They are going further and further to communism every day.

Free markets? I think not.

[Desnoxvu]

sweet!! I love watching Peter Schiff!

[Nickelodeon2002]

The Bushies need to rename it the "Owned"ership society...lol

[MooseOfReason]

Did she say "temporarily"? Hah. Some expert she is.

[andrewebisu]

Game score: Schiff 5 Newsweek stooge 0

[mrchekky]

If printing money had no consequences,

we would all be rich................!

10-ish years ago, before this crap boom got out of hand, people brought houses because they could afford them. and in the past 10-ish years, people brought houses because they needed the money.

I think we deserve whats coming because of our ignorance and apathy.

[IKilled007]

Watch for the Plunge Protection Team to step in and bid up the futures around 1 to 2 pm EST -- that's when they usually pull their sneaky shit -- the commentators will say something to the effect of, "Looks like people went to lunch, took a deep breath, took stock of the situation (oversold, of course), and started buying -- snatching up bargains!"

[chootlund]

US Govt. is the biggest "homeowner" in the world! Hahaha! What STUPIDITY.

[thbyrnes]

With tonight's news on Merrill, Lehman Brother's and AIG. We don't have long now.

[chootlund]

Yup. Time is running out. I think the dominoes will fall a lot faster than anybody expects. People say it's gonna be Japan like (slow) - I say no - it's going to be friggin spectacular- American style. US doesn't have the domestic savings cushion Japan had. As much as we humans may like predictability, the real world is not.

[Slapcorn]

mrzack and rowania - those have got to be the most hilarious comments i've ever read on youtube

[EMPIRE0FLIES]

Unbelievable...Our govt is destroying our country.

[JP5466]

Schiff must be laughing his ass off now. All these silly bullish pundits were making fun of him and laughing at him on live tv. They are either morons or huge liars.

Schiff has been right all a long. Good for you Peter!

[MaverickCentricity]

We are cosigning every mortgage in America.

[mrzack888]

Next banks to fail will be UBShit, UnWells Fargo, WAckMu, Goldman and Sucks, Moron Stanley, Barklaid, Douchebank, Merry Lynching, and JP Moron.

[Tasadaru]

I love your insults. Thank you.

"Unite or Die. Liberty or Death."

[ElCapitan1985]

oooh, that hefty dose of Schiff felt goood.

[ElCapitan1985]

haha, its so sad yet so true! Thank god for people like him.

[JackNeedles]

It's over. It's going to be slow and painful, but we are without a doubt enetring the worst depression the world has ever seen. People better prepare before it's too late.

[stealthpakfa]

how can the US be a superpower when they have to borrow to help their economy? its like saying im the richest man in the world but when one of my friends ask me for some cash, i have to beg my neighbour to get some cash so i can prove that i can provide cash to my friends and show how rich i am! china is the true economic superpower, even though americas economy is larger because of previous decades of good economic growth,america is surviving off its past success! but for how long?

[mattsta1964]

Now Lehman Brothers.

It's the end of capitalism folks

In 1933, FDR stole America's gold. This time they'll be coming for your house

[JackNeedles]

So true.

[danberkeley]

we havent had capitalism in a while. lol

[cowboycarl04]

not since 1913 and the signing of the Federal Reserve Act.

[Shizuru1213]

I'd say brilliant planning by the guys behind the feds, now the fed bought 80% of the American mortgages with the money of tax payers + their investment banking friends in wall street get to default the bond(with mortgages as collateral) screwing the investors and reel in a s**t load of money.

[andreamirelez]

Precisely! :(

[tommybarresi]

thanks phil

[endlessmountain]

2:54, I hope Peter is wrong!! LOL.. I hope like hell he is right and inflation goes way up!

[bludrums]

China holds the most bonds and Japan is second and Russia is the third largest bond holder.Your great grandkids will be paying this debt off!

[dmorles]

How do you know what countries hold the most US bonds?

[xavster]

Japan and China.

[jimjaas]

WE ARE IN A DEEP DOODOO.