Nov 2006 Peter Schiff Mortgage Bankers Speech Part 3 of 8

[sha370z]

people took out home loans on dead people

[TheAttackRat]

from 2:00 he uses the example of henry hazlitt, you can see the influence on him. i actually read the same book 'economics in one lesson'. This book is still the best intro economics book i have read. i'd suggest to anyone to read it!

[pretorious700]

there is a palpable tension among the attendees-it's like they are all thinking-"uh oh, our scam has been exposed"....lol

[Vednar1]

Awesome line,"...you use to buy a house because you could afford it, now you buy a house because you need money..."

It is very true.

[deltapunk21]

Carter took out Oil and Housing

[nousernameideasleft]

Schiff and Paul might make a good pair for 2012.

[Chslosers]

Yea might be too much though.. Schiff is still relatively unknown..

[nousernameideasleft]

Ya, if only...

[CountArtha]

Schiff is running for Senate now.

[OK2BCK]

@nousernameideasleft

good one

[darthvader5300]

Manufacturing means manufacturing manufacturing equipment which means manufacturing machine building equipment which means manufacturing machine tools which means using the same machine tools to manufacture themselves for machine tools are the only machines that can reproduce and manufacture themselves. That is where you should start, the machine tool sector! Which explains why you Americans must design and build an American version of Uralmash, Russia's Factory of all kinds of Factories.

[jakethesnakelimited]

Just googled Uralmash. That is definitely what the Americans need! Even though I'm from Finland and don't really like russkies, I still admire their work ethic and productive capacity.

[farhadcoyote]

Forget the Senate ... Why Can't the USA Have a president who thinks like Peter Schiff? Are we as a nation really that Dumb, that we don't deserve some intelligent and brave president?

[rhythmicspeech]

Unfortunately yes, I wish we only had one five year term. Far too often we look to the short term rather than seek action that will help us in the long term.

[Elbottoo]

Lmao awesome insight into just how dumb some people can get.

[2fuck2shit2]

What is the Key disfavors by Having Your Mortgage

realmortgagepaid.blogspot. com

[worldgoingtozero]

Peter and Meredith, good plan...good lookin' kids

[ytube2000z]

Meredith Whitney and Peter Schiff should get married and have kids for the good of humanity.

[nsolcis]

Peter Schiff for Nostradomus 2012!

[jaffijoe]

Yeah, he does like to kiss his own ass. But, if I completely nailed things like he did, I would too.

[seeroftruth]

Hell yeah, especially after years of everyone mocking him and telling him how wrong he was when he knew for certain that he was right...he deserves a little bit of ass kissing. This guy and Ron Paul could fix this country's situation. More people will be forced to pay attention, thank God.

[Mementomori690069]

Austrian Economics!

[seeroftruth]

Everyone's going to know that Ron Paul was absolutely right. The moronic majority will have no one else to blame but themselves.

[litetheory]

How do you avoid paying trillions of debt? Spread Swine flu and AH1N1, hehe =)

[devilmirror1]

I LOL every time when Peter yelled LESS, LESS, and LESS!

I think that he tried to inject the common sense through those home sellers' thick skulls.

[Mediterraneanblue9]

I work at a distribution center in the USA and we package up hundred of thousands, if not millions, of manufactured goods from China (probably 98/100 are made in China) in which Americans buy. It's a sad and friegtning sight to see my fellow co-workers playing the unwitted pawns, in which they have no idea the severity of our negative trade balance. But they luv to supe up their Civics and Camaros with gods made for Japan. I forgot to mention there luv for Ipoda and LCD big screens.

[the5h4rk]

if this was recorded in 2006 then that is amazing

[salahuddin786]

The Jews have fucked up the USA - foolish Irish descent peoples duped by the Semetic Jews and the Arabs own 6% of USA ...... Schiff is 1 of a million who has sense. You dopey stupid Yanks. Gung Ho people. Killing Vietnamese and Iraqis and Afghans - Osama Bin Laden will herald the destruction with haste. What a time to destroy US might - Fake Might

[Sentinel4truth]

Hahahaha!! Stupid muslim nazi, go fuck yourself. You're too stupid to see that Peter Schiff is a proud, patriotic, brilliant and JEWISH American hero! His father is too! That's why we live in Judeo-Christian western civilization, not some Islamic shithole Trashcanistan dump like you slithered out of.

[salahuddin786]

Fuck you - you slimy creep you are the fuckin filthy Jews of America FILTHYLEECHES. Jews have DRAINED the US - but wait til these dopey Yanks realise. They were HOPEFUL and are now FEARFUL of whats going on. Once the DESPERATION stage comes then they will turn to your LEECHES and kill you. Fuck Hitler who did HALF the job. Wait til Bin Laden comes after Afghansitan. Go to Cremationistan where your Jews will be burned in Palestine. FUCK THE JEWS THE ANARCHISTS OF THE PLANET

[Sentinel4truth]

You're such a dumbfuck stupid muslim nazi scumbag , you have no idea that Osama Bin Laden is a CIA asset, that's why he hasn't been caught, he was their pointman with the Taliban. What shitbag muslim hellhole did you crawl out of to leech off the British taxpayers? Don't even try to tell me you have a job, no employer would hire you to wipe the soles of his shoes.

[Mediterraneanblue9]

So thousands of gentile Americans buying worthless shit from china is the Jews fault? I guess if you going to play the media card brainwshing dimwits you might have a point. However, shitty economic decisions made but people who should be more frugal with their money is my argument..

[RvNYC]

Boy...does he ever nail it here.

[12inchvertical]

testify Pete!!

[Jattel07]

Hey, why is this video not up anymore...?

[Mediterraneanblue9]

4:27 BAM!!

[Mediterraneanblue9]

This guy is a juggernaut

[imaginator]

China should pull the plug on america. Then take over as world number 1.

[tacotony24]

I agree. The US is a paper tiger - appearance of strength or power but is actually weak or ineffectual.

[ebrawer]

Which part is weak? The part where their dozen carrier groups dominate the high seas?

There is something to say for their monetary/fiscal police being screwed, but calling them a paper tiger is ridiculous no matter what standard you go by.

[ebrawer]

How will they pull the plug? If they sink the dollar all their foreign reserves become worthless, and the US is left with the largest reserve of gold (or at least what's left of it?) in fort knox.

You furthermore ignore how big a powder keg China really is. Too much instability and it could fracture into a dozen different countries and civil war / revolution. The rulers of China know this, and so they won't rock the boat.

[splintercell99]

those gold reserves are long gone!

[olh1152]

Welcome to America Wok!! you want shrimp fried rice with that? No looky, looky, you pay now!!

[imaginator]

China has more gold in the ground than any other countries in the world. In a new report. China gold companies are not for export, they mine it and keep it within the country.

[madridisinSpain]

The most amazing thing of this guy is that he is just talking with common sense. Everyone can understand this. But why on earth nobody saw this coming?

[Wcoltd]

Because they didn't want to believe it, they were living in some kind of fantasy, its kind of this mass mentality of greed.

Some people are going to be saying this again, because this "crisis" hasn't even hit us yet, remember 70% of GDP is consumption, AND the Debt to GDP level is STILL 64%, so when consumption reduces in this crisis, DEBT to GDP is probably more accurately exposed to something like 250% or even higher, and since we don't have the infrastructure to work.

[forestskog]

@madridisinSpain Yes. According to a NY Times authored book (grr cant remember the name sorry), he is literally one out of maybe 5-10 economists who publicly said all this would happen BEFORE it happened. Only other exceptions were some smart investors who saw it but said nothing to us.

[pretorious700]

@forestskog there were quite a few economists of the Austrian school who saw it coming, but no one was listening

[forestskog]

@pretorious700 ok fair enough thanks for the info

[TWSceptic]

@madridisinSpain Because commons sense does not exist within keynesian economics.

[noraklagrangian]

Right after 9/11, Americans seem to have lost the plot. They elected George Bush who doubled the national debt and then they buy houses thinking they didn't have to work anymore because the house was like some sort of money tree. Learn from your mistakes.

[trxtan1]

hmmm... tokpu?

[SouthAuck]

This man is a breath of fresh air, but I disagree with his comment at 8.55 about dividends. Quote "If you don't get a good dividend, then you're overpaying for the stock". There are many quality companies out there that retain dividends to further grow the company, and pay minimal dividends. These companies will grow more than a 7,8 or 9% dividend. Its not all about yield, ask Warren Buffett.

[noraklagrangian]

Fair point, but dividends are real. It is money in your hand. It's an easy way to figure the value of a stock. If you buy small cap or growth stocks then you may make a mistake about the future or the company may squander the money e.g. on executive wages. There's nothing wrong with growth stocks but dividend stocks are safer.

[vincentca2004]

Im so happy that i am still 21 and got to listen to Ron Paul, Peter Schiff, Jim Rogers, Rothbard, Mises and god bless the internet :).

[vincentca2004]

these set of videos are so important, the ppl in that room are so blessed to get this information!!! I bet at least 80% of them took this and did not end up as bad as the rest of the mortgage brokers and agents. The base line is that everything in the world is a balance and when there is a lot of something at a place, that same thing is decreasing at the same rate somewhere else...

[mrchekky]

clap clap, 8:20 mark. very cleaver

[trent2429]

Sarcasm needs to be taken to the point of being absolutley ludicrous in order to make its point. To someone who isn't an avid Peter Schiff fan, this may be mistaken as a serious opinion. For all I know, it actually is. Thumbs down are justified, let Lucy have it.

[kosai19]

Anyone notice that this guy called the ARM reset as the catalist for housing crash. He's really good :)

[LucyVanPelt22]

peter is lying.

henry paulson is right in maintaining economic and financial stability.

[ohio1998]

Can't wait for the new book Peter!!!!!

[Tasadaru]

Do you know when it's coming out?

[monymizer]

I wonder if the dopes in the audience even know what Schiff means by comparative advantage.

[cybersphere]

I do, but only because I researched it a few years ago when it was being used as an excuse for massive offshoring. Like many other buzzwords, the term is misused by politicians to pursue policies which only benefit themselves and their rich business buddies.

[Sentinel4truth]

Brilliant! Schiff is my hero and mentor.

[kkuhn]

@Sentinel4truth yes Schiff is the man... but to those who don't know look into one of Schiff's big influences von Mises and Austrian economics

[Pdrum2]

@Sentinel4truth I'd like learn finances from this guy.

[mjuslen]

@Pdrum2

schiffradio

[chewbaca1989]

I've got read CRASHPROOF, the sad thing is I don't have discretionary income.

Oh, well grab those ankles.

[launchpadmcquak]

I'm reading Crash Proof for the second time. In my opinion, it's the worst horror story I've ever read-- and it's TRUE!!

[labartic]

rate this video five star and link to your friends.

[ElCapitan1985]

done, and done! Peter Schiff is a hero! I'm reading Crash Proof right now, I recomend it to everyone!