Peter Schiff on the Euro Crisis, the Rising Dollar and the GOP (12/12/11)

[poopingeneral]

Today's headlines: Apparently Soros stated the EU collapse would be catastrophic, and that the FX Bank in England is preparing for the possibility of an EU breakup.

If the EU breaks apart, this will be an avalanche of financial problems throughout the world, the likes of which we haven't seen in 80 years. Because it is not a market collapsing, or a business collapsing, it's an entire currency collapsing. It's the 2nd most traded currency, the Euro is. Get ready people, 2012 is a bumpy ride.

[bighands69]

@poopingeneral

This whole break up of the EU currency is laughable some times.

EU is the only economy that has not yet used Quantitative easing.

Britain, USA, Russia and china have all used quantitative easing on a sequential basis and this is going to be a bigger problem for them in the long run. And the reason for this is that their currency will be lowering in value.

This does not change the fact that Europe has troubles.

[TWSceptic]

Looks like ShittReport and his gay friend have thumbed down a Peter Schiff video again.

[ThaigerDon]

@TWSceptic i bet they did, LOL

[parcivale]

This segment at the end of the show where Lauren talks with the producer guy and the girl in the control room is ALWAYS excruciatingly bad. I'm amazed that they haven't dumped it yet. They guy just comes across as a smug, pompous asshole and the girl in the control room seems to be just wishing she wasn't doing it at all.

[celainea]

Thx Lauren for pointing out Peter Schiff's fallacies.

[Dean0000007]

Government doesn't produce anything what is Schiff talking about? The Hoover Dam, atomic technology, the internet. He's a blow hard for the rich that want the rich few that want to make us all peasants on minimum wages by making us all compete with starving people the world over.

[ganador3]

We need more steely eyed, flat bellied men like those who work for Blackwater. We would have safer streets, and far fewer punks.

[DeltaNordicAdvance]

Peter is far more reasonable and realistic in just wanting the govt out of the way , than all the fools that want the govt to save them - the same govt that is raping them, and their children, and giving all their money to intl banksters no less!

[sabu85]

What we need is more regulation and less intervention.

[natritious1]

Thanks for having Peter on again RT, I wuv you

[natritious1]

Peter Schiff knows how to create jobs. Get the GOV OUT OF THE WAY!!!! Go Peter!

[natritious1]

more regulations are NOT needed. They aren't even capable of enforcing the Current Regulations, and these commie control freaks are asking for MORE of the PROBLEM

[Solosohi]

Fucking Peter Schiff again, delusional capitalist ordinaire.

[delatroy]

She's fuckin hot :D

[optionsupdate]

is she real or computer generated by the kremlin?

[optionsupdate]

wow look how beautiful she is,

[AustralianAllTheWay]

Schiff supports Ron Paul.

As does Max Keiser, Bob Chapman, Gerald Celente, (insert anyone who knows what they are talking about).

[ChineseDragonKing]

@AustralianAllTheWay

dont 4get jim rogers too :D

[zisklb]

nice boobs lauren, nice pussy tooooooooooooo

[ChineseDragonKing]

@zisklb

u seen her pussy? not sure if she even hav a pet

[derekox]

Zillow is usually wrong anyway; what it says is mostly meaningless.

[justanoguy]

@derekox - Agree about Zillow beng wrong most of the time.. The WH is worth far less.

[MrStevepfi]

and you're not that hot so don't buy that line...

[ChineseDragonKing]

@MrStevepfi

ur rite. shes not that hot. but shes extremely attractive, intellectually n physically

[MrStevepfi]

I tune in to hear what your guests have to say, not what you want to say... so stop interrupting please. You're not that good yet.

[seanincali1]

lauren lyster is sooooooooooooo hot.

[louis12346]

Lauren great show teacher , Explain Derivatives and what they mean , are they 600 trillion ?

[wooyooing]

we need to end the Fed, go back to gold standard. We need sound money, not debt as so called money. Our economy is stupid and unfair. Lairs and glambers win and rule the nation. This is not how America should be!!!

[dijournoman]

Sure, the White House may be declining in value, however, the people in congress still make six figures from insider trading while people are without food on the streets...

[concubinage]

US is the über-fascist, i.e. it can operate under fascism and the majority still thinks it is capitalism.

[heckler73]

Schiff is a dope. His only function is to steal oxygen.

For example, if the financial markets were deregulated to fulfill his delusional paradigm, how would a chump like him compete?

And if he's going to Washington to "teach" about the business cycle, I can only imagine what sort of disaster will arise from his "wisdom" if anyone takes him seriously. Just look at all the idiots on YouTube that think he knows what he's talking about.

[concubinage]

Peter Schiff, good points!

[arr4gtr]

I think it'd be great if the government hired more people to fix infrastructure. Inflation and devaluing the currency is really the only way to get the US back to reality. The avg american worker makes 45K doing work that would command only about 20k on the world market. People aren't going to take a 55% paycut but will agree to devalued dollar as long as it applies to everyone. The rich like Schiff simply don't want devaluation, they'd rather leverage from their position. F' Schiff.

[wooyooing]

@arr4gtr Dude, devalued currency is only good for export, not for the import.

The reality is inflation makes the poor and middle class can't get ahead. Less people can buy eat healthy and pay their bills on time. Inflation is no good for customers but for the rich. A hardworking labor deserves a better class of money, that’s only fair.

[arr4gtr]

@wooyooing what's good for export is also good for REDUCING imports and REDUCING outsourcing. We need 1. limits on CEO compensation, 2. elimination of corporate personhood 3.revised expectations(<compensation). 4.increased federal funding for infrastructure, universal healthcare &secondary education. Yes inflation does make saved money more valuable (to borrow), but also deflates gross value. Those with the most excess lose the most. The $is overvalued, reality is nowhere but down

[mannyvelo]

OMG! Lauren wearing nothing but her heels and a bow is all I want for Christmas!

[arr4gtr]

I love Lauren, this show is awesome.

[bullshit3118]

I'm so sorry for commenting again that bull schiffer gets me mad. Lauren, I just want to say you bring peace to my mind and once again, your hair has the magic silk action once again :)

[bullshit3118]

NO SCHIFFER..the FED is not the government and the governments do not print the money. Misinformation artist. Schiff is the guy that wants no government under Von Misses, but who will REGULATE bankers Schiffer boy? Call it what you want SOMEONE has to regulate it so cut the bullshit about no regulation! We ALREADY have NO regulation dummy! how's that working for ya SCHIFFER???? This guy is a child. He believes in free markets, but only for himself. Did Lewis Caroll write a Wealth of Nations?

[soleprobe]

Why doesn’t he mention that governments shouldn’t be borrowing money from private banks? They should be printing the money, as they do now, and lending it directly into the economy interest free. This is rarely mentioned in any of these discussions. If governments wouldn’t deal with private banks in the first place they would have no debts so they wouldn’t need austerity measures.

[MarcusCMarcellus]

I subscribe to Austrian economics to a large degree, but having worked in i-banking and law, and knowing something about history and human nature, it is absurd for Schiff and Woods and Mises-types to claim that without FDIC insurance, customers - the market - would regulate banks enough to discourage mass leverage. The fact is retail banking is a necessity and people cannot be expected to monitor their bank's balance sheet before opening and keeping accounts. It's a flaw in their thesis.

[misesownskeynes]

@MarcusCMarcellus

Which is why financial professionals and consumer advocates would create organizations and companies that rate banks for customers, like the BBB for businesses, Consumer Reports for goods, or Underwriters Laboratories for electronics. Only a fool believes free people are too stupid to look after their own self-interest, yet politicians and bureaucrats are infallible and will take care of everyone.

[MarcusCMarcellus]

@misesownskeynes Is it necessary to insert "only a fool believes..." when responding to someone, especially when you insert a red herring strawman that was outside my comment? A little less Mises and more finishing school would help you, Schiff, Pento, etc. And yes, HISTORY teaches us that the VAST majority of human beings want nothing whatsoever to do with freedom. People want chains; they seek them out everywhere, endlessly. Who said politicians are infallible?

[klaos42]

@MarcusCMarcellus There was a functional banking system before the FDIC.

Also, if the FDIC was needed to any significant degree, the spending would destroy the value of the currency and the credit rating of the government, rendering the insurance useless.

[MarcusCMarcellus]

@klaos42 Actually, it depends what you mean by functional. The percentage of people who kept their money in banks in, for example, 19th c USA was tiny compared to today. Most were terrified of bank runs, as they were very common; they kept their money at home, in gold etc. The modern banking system, which you may oppose, could not function without some kind of guarantee on deposits.

[justanoguy]

@MarcusCMarcellus -- And they paid cash... not credit to purchase things such as horses and homes.

[RTProducer]

@MarcusCMarcellus indeed. This is a very good point you make. The reality is that, in a free market, banks would be incentivized to keep more reserves on hand due to the threat of failure and bankruptcy, but they would also be incentivize to take risks in order to outperform their competitors. That's why we have had bank failures of spectacular sorts all throughout history. The real issue is constraining credit growth so that failures don't crash the whole economy.

[Crosshair84]

@RTProducer Which is why bank panics and collapses were rare before the era of Central Banks. The US was unique in the 19th century thanks to unit banking laws. Canada in the 19th century had no such panics.

[bullshit3118]

ALLLLL the central banks are using this opportunity that THEY created to buy gold and stock up to get ready for the return of the gold standard. Shiff is the guy the guy that Lauren talked to awhile back about these monetary issues and he changes his tune to fit the physical silver and gold buyers. Schiff is the guy arguing with Occupiers that his job is somehow superior to those in working class. This guy is too shifty for me, I wouldn't invest $5 bucks with this slippery fellow.

[Ristar85]

@bullshit3118

commoditybrokersonline . com/problem-brokers/internatio­nal-futures . html

[ApocalypticAang]

Wooh, loved the way Lauren challenged and controlled Peter Schiff-- I get his message, but no one will want to interview him on CURRENT developments if he keeps returning to his spiel every other minute... does he still think he's running for congress?

[MarcusCMarcellus]

@ApocalypticAang I could not agree more. I like Schiff and he is overall correct but loves the sound of his voice and his arguments. He's more than a little narcissistic. This Lauren girl is kinda hot when she confronts someone.

[gavinjengel]

Not sure why Lauren doesn't understand that Statism creates easy-to-fail & corrupt banks, or even why fractional reserve lending is not a good thing.

In a real free-market, customers would not use banks leveraged up on crazy levels of fractional reserve lending, because the banks would have to pay a high premium to depositors insurance. And I don't mean FDIC, I mean a true depositors insurance company that doesn't look the other way when banks act like criminals.

[stealthpakfa]

lauren lyster, the typical brainless american bimbo.

just another walking vagina.

how about talking about the bond bubble in US bonds?

[WythenshawePhil]

@stealthpakfa How can she talk about that? You don't know it's a bubble until it pops.

[aratsky2]

Great show. With Peter on, it was well worth watching. 

[faraon2012]

IN$ANE HUMANITY=( THE END* IS COMING OVER U$>G=)

[Eraser7622]

Dimitri is okay, I suppose, but why even bring in the producer? I'm sure she's a nice person and good at her job, but she offers nothing to the commentary whatsoever. At least Dimitri speaks his mind and knows, for the most part, when he sees hypocrisy. Points to him for his blackwater remarks.

It's time for this show to stop playing the margins between main stream coverage and slightly more cynical mainstream coverage, and start asking the REAL questions.. The US is now Fascist & war looms

[RTProducer]

@Eraser7622 We don't want this show to be heavy on opinion. There are enough pundits out there who have entertaining shows, and some of them even smart and educational (take Max Keiser, who has a great show). We think there is more room for a show that focuses on doing quality interviews, that is educational and that also is entertaining. It's a work in progress however, so we are always open to suggestions. Anything specific you mean when you say "real questions?"

[nevadaxtube]

Fewer regulations will lead to more corporate abuse and more financial scandals. The Republican idea that regulation and taxes are the main problems of the economy is totally false on every level. However, if you repeat a lie often enough many people will begin to believe it.

[Armando7654]

thumbs up for inviting Peter

[klaos42]

Thank you for providing an austrian school perspective.

[Repelsteeltje1337]

Funny isn't it? Riots, foreclosures, starvation, Europe and the entire world going to shit because of something that doesn't even exist...debt, money, credit are all just mere abstractions floating in the air, pieces of paper and tiny magnets on a hard drive somewhere in the world dictating everything.

When is the monetary system going to collapse into just some stupid shit that we made up? A failed social experiment?

Time to move on...Time to wake up.

[WGutjens]

@Repelsteeltje1337 Very well said !

[YoniLiron]

@Repelsteeltje1337 doesn't exist ? Money represents the time and effort of workers. Being in debt means that you lounge around while someone else works.

If the monetery system were to collapse it would mean there is no way to 'store' the value of your work. That means you will have to keep working till you die, or find an alternative for money (in which case you just got an alternative monetery system). .

[YiuTeub]

@Repelsteeltje1337 As long as there is interest this will happen. Make your money work for you should not exist. Interest and usury are what make currencies fail.

[TorontoLibertarian]

More Peter Shiff, fewer commie meatheads.

[ThePhilPerspective]

@TorontoLibertarian You do remember that Alan Greenspan was a Libertarian, also, too, right?  He was after all a flunky of one Ayn Rand.

[RTProducer]

@ThePhilPerspective yup and he wrote "gold and economic freedom."

[TorontoLibertarian]

@TorontoLibertarian *Schiff