Peter Schiff Vlog Report 24 Apr 2009

[turbotrana]

Greetings from Perth Australia. I listen to you always.

[marcopiero]

In other days David Kellermann's death would have covered the media for days/weeks. Now, instead we have a complete manipulation of information......why did he kill himself or why was he killed?....Plus Peter, u are right on the stress tests. Of the 18 banks whichever may not make it...the Feds will helpè them out. So what's even the point in doing these stress tests? Do the Feds think that Americans a re blind and deaf?

[HeatForce]

You rock Peter!

[Lynchian74]

Great vlog Peter.

I couldnt believe the adverse conditions that the Fed say that were testing with.

10.3% Unemployment by end of 2010. It is now at the end of April, 9%. (20% in real terms). It will be 10.5% by the end of June. They also assume 3.3% reduction in GDP in 2009. Q4 2008 was -6.2%. Q1 09 will probably be -5%. Now unless Q2 is -2% and Q3 is 0, the figure will be worse than -3.3%. The banks are insolvent, otherwise they would have speculated on more worse stats.

[turdsplatter]

Peter, I don't think you've mentioned this yet, but what do you make of Gerald Celente's prediction on commercial real estate going bust? Also, Obama started talking about credit card debt; is that a sign that that bubble is going to burst soon?

[libertyeconomics]

It is everything. The entire economy is sub-prime. The dirty truth that the government refuses to acknowledge is that the CENTRAL BANK, i.e., the FEDERAL RESERVE, is BANKRUPT. There is NO WAY a BANKRUPT SYSTEM can bailout a BANKRUPT SYSTEM. The bubble has already burst, my friend.