no fault of their own. HA HA HA. Its like buying drugs from drug dealer, get stoned and crash automobile. And then sue the drug dealer to pay for damages.
Fuck i hate your racist homo country, fuck america and fuck this guy.......
Obama, bush, clinton, oprah.... Wtf USA who are these commercial, fake, americanz? Do you people understand your country is fucked, your people are retarted, and obama is just a guy! Forget your ying yang racist bullshit and live as a world community, cause not only God knows how much your country should nuke itself to nothingness, but the rest of the world wouldnt miss you if you did!
@killaproductz lol do u know how many australians come to study abroad at my university and fuckin LOVE IT.....they are grateful and so happy for the time they spent here...you should try talking to someone who has actually lived here....otherwise stfu..we know we have problems...i kno mad americans are retarded but dont fuckin generalize and group us all in, dickface..i mean mate
If Greenspan was a doctor, he could have been able to treat everytype of disease by simply giving them drug, instead of right medicine, then evey parient would had jumped out and been on high for a while at least.
hey everyone i have some great videos about obama. tells you everthing you need to know about him hope you can handle it alot of stuff people never knew real good go watch them all in my channel
Doesn't it strike you as odd, that these men at the Federal Reserve are making these impractical decisions?Rather than scratch our heads, perhaps we should be willing to look at more insidious reasons for their decisions and these developments, and take the risk of being labeled, in order to bring about real discussion about what's going on?....Or keep scratching your head in bewiderment while we go down the tubes.Your choice
Simple to anyone who has taken a class on economics. Last year when i was taking macro econ i thought the same thing and how the Fed doesnt take into account simple economic facts. i guess owning the money printing press changes the game :)
The anglo saxon backed zionist are here in houston using their obama blessed minority police department to violate my civil rights because i am pro childrens rights not to have pedophile babylonian talmud reading jews spreading propaganda and running the public institutions of this country .from Giovanni orion Di Ofelia AkA Antolin Jimenez
The answer is to give everyone in the world a billion dollars. That way they can empty the stores and have more material shit. Demand will rapidly chase Supply and prices can rise to a Weimar level. Good job David Rockefeller and Jacob Rothchild! I am sure you will be more powerful and wealthier the worse things become!
Since 1929, Real GDP grew at an average rate of 3.4%, from .9 trillion to 11.3 trillion. The average inflation rate since 1929 has been 3.0%, from 12.0 to 116.6 adjusted to year 2000 dollars.(year 2000 = 100, the baseline) By compounding the numbers over the past 80 years however, the GDP has out gained inflation by much more than .4%.
GDP means Gross Domestic Product and for the most part reflects all domestic spending by the citizens. In effect, all of the money you spend for food, clothes, gas and electricity go to this number. Such things as your American made cars, cell phones, ISP, health care and anything else that is generated/produced domestically goes under the heading of GDP. We are but a service nation and service ourselves unless we outsource those services. We need to manufacture to survive.
He's one of the few who accurately predicted our current economic recession, while all the other "experts" laughed at him. Peter Schiff was, and continues to be, spot on.
@arbitrage You know i keep telling anyone who bags a welfare person to maybe bag the brokers, bankers, real estate agents, and other rich pricks. See whats worse than a welfare person? A scum in suit and tie who helped fuk your country of trillions. And they get thier jobs back with high paid salary. They call the profits they have made now as profits. LOL More like theft after the war. Civilians lay dead on the ground. Bailed out bastards. Easy money when share market has been raped so low.
"a scum in suit and tie who fucked the country of trillions." that comment oozes intelligence! well done. the reason the bankers still have their jobs - IS BECAUSE OF THE THE US GOVERNMENT AND THE FED! they are the ones that have printed butloads of money throughout this century, and they are the ones that gave cheap money to all the bankers and then bailed them out after they gambled with it. Why is it, that people still cant get this through their heads. i mean, did you even watch this video?
@ThebigTH dude. Ive traded nearly everything under the sun. Your: "Why is it, that people still cant get this through their heads." Is very bland. Im 37 dude. Traded for 17 years most markets. So u cant understand my poetic gibberish. Then dont understand it. ok? Re both mess. and ps. you almost failed as you almost did what was expected. Maybe in the next reply?
i dont know what you expect me to do nevawake. but you're comments were, well, i dont even know? like, what are you talking about? are you the riddler? just speak english. my comment about getting through your head is simply that you dont seem to acknowledge that the government regulation in America is the catalyst for all your economic problems. you say Bailed out bastards, like its their fault they got bailed out. WHO BAILED THEM OUT? Re both mess? explain. why are you mumbling?
haha mate, people can live whatever lives they want. thats the beauty of freedom. are you a socialist? what do you have against this guy posting guitar videos. at least he has some compassion and feeling and isnt just a negative little weasel like yourself that tries to judge everyone on their own life, when infact your the one making the world a shitter place. do us all a favor and go hang yourself.
uneducated nigger? haha im Aussie and im at uni right now studyng economics. so well done you sad little man. put up capital? haha like you're some fully self sufficient hero haha, is this guy serious? who the fuck do you think you are? youre a parasite. Youre obviously so filled with anger that your little excuse for a brain is malfunctioning. and i still feel great about the world. thats the difference between a legend like me and a fuckwit like you. i live a happy life, you live a shit life.
@ThebigTH your a legend in your own mind. My advise for you is get some"depression". Then you may start to analyze the ground hog day you r repeating from the last Jack who died of Cancer and/or old age. I use to have a happy life until i started to think. Some advise. quit econmics and study Philosophy. LOL. ps do whats expected. il let you know if you reply.
get some depression? ground hog day i am repeating? last jack who died of cancer? .........is this reply a mistake? did you mean to message me nevawake? because the gibberish that is coming out of your mouth, is atrocious.
As always, Schiff is right, although he is not as entertaining as Marc Faber.
Residential realty prices are too high almost everywhere in the USA.
How do we know this? Houses sit for sale with no buyers for months upon months.
A house price arises from the willingness of persons to bid cash within a range based mostly on location -- the elevation of land and hence views, the proximity to beaches, the nearness to others with similar wealth.
@hendersonn11 yeh the big con. Where a house in Australia in a dump suburb use to be $50,000. It is now 350,000 to $400,000 lol. Yeh right. wat a joke. teens paying off debt with jobs that pay rates hardly changed. haha.
if a mortgage broker told you to jump of a cliff and he said you will be fine ( would you jump ? i very much doubt it! so why not walk away before doing the deal and sit down and work it out , it could save you from getting shafted, but again Peter speaks the real truth the Storm is yet to come and when it does the world will feel the power of the markets trust me period....
then 3x your Salary for buying a home i.e (mortgage ) in other words you and only you walked in to the mortgage broker and the broker said "how much do you earn and you Say errrr About $50,000 year and you dont or you said you earn $30,000 which you do but you borrowed more! just so you can have the house of you dreams or to keep up with the joneses (pier pressure), please do your math and take responsibility
Until real wages rise in this country stay out of real estate. The government has been and is now the primary sponsor of the mortgage criminal enterprise. I'm not a conspiracy theorist I just follow the money. Watch how aggressive the mortgage lenders become once all their fraudulent mortgage contracts exceed the extended 3 year recession period granted to borrowers under TILA.
Im a trader based in the uk, Peter talks the real truth period...everyone got to greedy borrowed to the hills living " the dream" because thats all it is a debt dream. and before the "hill billys" get on here saying its my fault your a trader you created the problem , i actually trade my own money not anyone else..go do the math if you have borrowed more
Well, I don't know who you are talking to or how I feel about the world. I do however know what I think about you!!
Oh and BTW, I highly doubt your so called "uneducated niggers" are causing western nations to become welfare states. If that were the case, who's the real idiot? Perhaps it's simply the speaker? You decide.
well if you dont believe that then you may aswell just get on your knees and let obama shit in your mouth. you obviously lead a sad and depressive life. enjoy it. and i mean, the US is a fkn democracy. why shouldnt people try and hope for a change for the better. youre a fkn tool mate.
"Schiff's costumers have lost up to 60-80 per cent of their earnings."
What an ignorant post! First of all, their portfolios are back up again. And if you had invested long-term with him, you would have made a killing.
Once he was asked to name 3 stocks in which people should invest and those 3 stocks skyrocketed. Just wait until the next crisis hits. I think Peter will gain even more popularity when his current predictions come true.
I wouldn't say a 'killing" was made. Gold Bullion was a good trade, but everything else wasn't all that great. Considering you're "all in" (no/little cash) as you're a buy and hold type, you didn't have any money to invest when things were down in 2008, so the truth is you're still down in most commodity stocks over the last several years (4-5yr). Granted you should have received a bit of dividend income in a bit of things. There's no killing being made in the Schiff buy and hold strategy.
Almost everything he says is true though; he tells it how it is, whereas the government tries to make everyone think everything is ok. Everything is not ok, billions have been spent and there is nothing to show for. He is right 100%, the government needs to stop getting involved and let people/businesses fail. Enough is enough.
This comment has received too many negative votesshow
Peter Schiff needs to move to another country, as he obviously is always anti-America. Funny he enjoys all the luxury of living over here, but does nothing but trash our country. Just look at his videos from years ago, its all the same doom and gloom crap, and how "awful" America supposedly is. These doom and gloom guys keep preaching it for many years, eventually something will get worse, then they think they are some brilliant mind.
I'd rather be a dumbass Austrian than a Keynesian genius. The Austrian comes out better in the end because he understands economic forces and doesn't try to fight them. The Keynesians think that they can turn lead into gold with monetary policy and government spending.
Keynesian Economics? LOL according to who Henry Hazlit or Hunter Lewis? Comical! If those are your sources of Keynesian analyses then I suggest you take a pre-algebra course, which is perhaps what every Austrian cult memeber should do.
I have my own analysis of Keynesian Economics. you don't need to be smart to see that It is retarded. Just look at America right now. They've borrowed a butload to stimulate the economy during a downturn, and what have they achieved? NOTHING. the economy has NOT gone through the recession it needed. yeah it may have had a stock market crash for a year or so, but it has not restructured itself like it should have. The problems aren't solved and the economy is still veering off course. keynes=dud
How about you give me some examples of when Keynesian based economic policy has lead to anything positive. and why dont you give me some real life examples of when austrian/free market economic policy has had a negative effect on the economy of a specific country. the truth is that most developed nations had their greatest and strongest economic growth during periods of very low govt intervention, and then it goes downhill over time as govts start to fuck things up.
Its actually funny reading your comment because you're that fucking brainwashed. How can you believe in Keynsian economics, when you live in america and unemployment, including discouraged workers, is around 17%. I mean, you'd have to be an absolute gimp to think that the stimulus was the correct policy for the situation. and it is proven in the current state of the US labour market, which is completely FUCKED. you're a fool.
@kitycalifornia show me one of theit prognostications that has come true and I might consider you to be a serious individual and not a recently graduated, brainwashed fool. Tell me, what did the Keynesians predict would happen after WWII?
Schiff's costumers have lost up to 60-80 per cent of their earnings. LOL this guy is another Austrian clown. What a disgrace to Berkeley. Man should stick to accounting, because obviously he's a clueless investor, and a horrid economist.
@kitycalifornia - you display your lack of intelligence by your poor spelling. Therefore you are in no position to criticise Peter Schiff or anybody else.
Schiff, you're bang on the money, and I follow each and every one of your videos from now on. Keep up the good work, and here's wishing you all the best!
This comment has received too many negative votesshow
wow, Schiff is criticizing again with his powerful rhertoric. I´m betting this guy believes he´ll be in the Whitehouse one day as the first jew to rule the planet. His fans are thinking that once in, rainbows will emerge from his pee, everybody will have a house and car, and his shit will smell like sweet roses on a warm summer morning.
Schiff, STFU! You shoot out in all directions and think you´re so clever when you get lucky once in awhile.
Consistency is the mark of this man intelligence. While everyone goes from one bubble to the next, intelligent austrian's understand that it is the cheep money provided by the fed that drives false demand that will destroy this economy. Peter is dead on and usually the only inaccuracies he couldnt predict were how bad the govt was going to respond to the whole crisis.
The housing bubble would have happened even without the subprime mortgage crisis. But, maybe not as severe. Consider the birth declines of the last 50 years & the dying of baby boomers. Thus, 40% of the workforce will be removed from the largest volume of existing housing ever built in the US. Resulting in millions of vacant house due to the inability of the X & Y geners to consume them all.
Where is immigration in your calculation... ? As your statement is true about the baby boomers the population of the country as a whole is not static...
As for my mortgage, when I lost my job & unemployment in 2006, I obtained a $300,000 line of credit against my home, fixed it up, managed to sell it, pay off all $180,000 in debt & moved south. Where I bought a smaller home for cash. The economy crashed, 12% unemployment here & so I am forced to retire. Lost 401K to manipulation. Waiting it out to Social Security in 17 months. My wife & I were smart enough to see the housing bubble burst coming before it hit. Not all of us were irresponsible.
As for the banks adjusting mortgages, that is not going to happen in large enough numbers & so far hasn't. I believe the reason why is that the financial instruments backing the loans are now bundled with other loans and have been resold & resold & resold. The current investors in these bundled investments paid a high price & reinsured them with credit default swaps that will pay off if the bundled investment defaults. Thus, they don't profit by allowing the homeowner to salvage the mortgage.
What the Job Stimulus really did was to put local & state obligations on the national debt. Local & state gov'ts lost revenues due to the devaluation of homes & other lost inclome. They then used it to keep from raising taxes & retained their staffs by faking layoffs to get the public upset to justify the use of Stimulus funds. Thus, they can claim they saved jobs. The problem is what will local & state gov'ts do when the Stimulus runs out and there is no more coming?
So long as the fed keeps printing / typing money into the system, and congress is allowed to raise their own salaries along with the increased money supply, things will stay the same.
He also wants to install energy-saving light bulbs and replace old heating systems in federal buildings. School buildings would get an upgrade, too.
Obama says he will announce other details of the economic recovery plan in the coming weeks. He says hell work with Congress to pass the initiative when lawmakers reconvene in January.
It takes a lot of courage to deliver truthful messages that people don't want to hear. And that is what separates people like Schiff and Ron Paul from the pack, principled honesty when they know that the truth is very unpleasant.
This comment has received too many negative votesshow
I live in CT, this guy doesn't impress me.
Brooksley Born said, (1998) the market was going to collapse, she recognized that the financial security of all Americans was being put at risk by the greed, negligence and opposition of powerful and well connected interests...
Peter Schiff saw the crisis coming as early as 2002 years after it was predicted to collapse by Brooksley Born.
but brooksley born only half understood the issues, attributing the problems to deregulation, while neglecting to mention the artificially low interest rates set by the fed and the ripples of previous regulation (I.E. Community reinvestment act, FHA, FDIC policy/moral hazard,) . also, you forget, peter schiff saw the nasdaq bubble about to pop in the late nineties as well. forget partisan politics man, it gets you nowhere.
Schiff is much closer to a libertarian than to a republican. He wants to run on the republican ticket because he wants to win, not just make a statement. Schiff also predicted the collapsing of the tech bubble back in the 90's, you just didn't hear of him then.
I call upon a band on supporting the BANKS that have been bail out.
I call upon to legally challenge the derivatives markets that defraud investors from check and balances the reassure who and who does not have building debt. This derivatives markets needs to be challenged all the way to the Supreme Court..... Example Goldman Sachs, and Greece..
Quick note. I just saw Laffer on Beck. What a joke. Beck made a great speech today but, where's the beef. Give me a break. Laffer.."Give Politicians a commission". What a bunch of crap. How about if they want to make a lot of money they work in the private sector producing something besides paperwork?
Why aren't you on there Pete. They're scared to death of you. It would mean the end of the KOOLAIDE generation? The talking heads
If these are the same financial advisors ex fed sec. Henry Paulson (I don't believe the subprime crisis will spread to the rest of the economy) was employing to spin his web of decete ..
I don't think Obamas 2 million jobs story is much better.
"From hunters and gatherers, to the agricultural revolution, to the industrial revolution - the pattern is clear. It is time for a new social system which reflects the understandings we have today."
Most economists accept that the stimulus created some jobs, albeit many fewer than Obama claims. I don't quite buy into Schiff's "question authority" schtick.
The worlds largest financial lawsuit filed against SEC. SEC used in producing phantom shares in the order of trillions. Media shuts up about it. Claims are raised that SEC/CIA and other authorities are using "ponzi schemes" to fund a shadow government. Google: "CMKM/CMKX"
I cannot believe people say that .25 percent is so amazing. That is giving the Fed way too much slack.. Besides the Funds rate is still at 0-.25 percent! So the printing press is still completely on hyperdrive... Thank you Peter.. Thank you... Those mothers fuckers at the Fed lol...
I think what pissed me off the most about Obama's TARP Anniversary speech was that he said, very blatantly, that there were no earmarks in the TARP bill. Excuse me?!
@thepeff Since earmarks (also knows as bribes) are legal, they are a good thing to use because it brings back money directly to the taxpayers on state projects, rather than leaving it for the federal government to waste. But earmarks should be outlawed.
Earmarks are terrible in that they take federal money (which if collected and used, should benefit all americans) and use it to benefit only a certain percentage. This practice also detracts from our civil liberties. For instance if a state lowered their drinking age from 21, it would lose its federal roads funds. Whether it comes out of state or federal tax money, it still comes from the taxpayer. Since the money flows from tax payer, to the feds, to the state, the states lose rights.
I think that it is amazing that after all these many years of money printing that people think that raising interest rates a few points would immediately reverse everything and take the inflation out of the system and tank commodities.
The damage from too much money should be with us for a very long time.
Today's banks are fascist, disguised as capitalist. Let them fail one by one, big or small. We will all be better off in the long run when the public rejects these parasitic institutions and preserves and grows his and her own wealth by prudent and independent saving/acquisition of tangible commodities for trade. Fiat currency and credit are the undoing of societies in the long run. I would go as far as to say that mortgages should not even exist. My middle class dad didn't need one.
"A private central bank issuing the public currency is a greater menace to the liberties of the people than a standing army...We must not let our rulers load us with perpetual debt." - Thomas Jefferson
@tkcomputerservice The Fed would not even exist if the Elected Gov Officials decided to cease its existence.
It all comes back to Government and their decisions.
You people need to decide if they're going to listen by immediate and permanent removal by force, if that's even possible anymore, or are you going to skirt around the dance floor until you're dead and gone when someone else just takes your place. One way or the other real change is going to be brutal. You may as well get on with it.
The only reason the fed has raise rates now is because they know inflation is around the corner and the stumulus money has come back home to roost !!!!!!
The Fed's discount window has cobwebs from neglect. Banks are flush with cash and not lending. Raising the discount rate 25 bps has no effect on anything.
The Fed is just throwing a bone out to give the dogs something to chew on.
Barack Obama is a typical politician, much worse than George W. Bush, because it's a wolf dressed up as a sheep, whereas Bush was a wolf dressed up as a wolf...
Well borrowers need to stop being so stupid then. People need to take accountability for their own actions. I'm sick and tired of people wanting to blame other people for their own braindead decisions.
Your not making any sense. Your original comment strongly indicated that you thought Peter was being unfair for saying that consumers deserve some blame. Peter over and over and over and over has stated that the root cause is the Fed/Govt but Financial Instutitions and most certainly the public also have to accept some blame.
^Lol true... cuz its like he drank 2 red bulls before the vid starts... but i would too, if i had some good things to say and had to squeeze it in 10mins or less.
If you don't pay your taxes the government will take your house.
If you don't pay your mortgage the government will give you a house.
Owing the IRS more than you can pay is not always intentional.
People who lose a job and then find work as an independent contractor are in for a rude awakening come tax time. You're better off taking unemployment and defaulting on everything.
yeah Pete, keep it real. Nobody's talking about China's savings. If they have savings, why are people pushing them to raise their interest rates? yes, Vegas' real estate TRIPLED. Obama doesn't have a plan to save social security.
the bailouts need to stop, period. They're putting that in the Finance "reform". Call it swiss cheese no matter what they do. Just get rid of permanent TARP.
Prices need to drop. Sub primes kept the prices way too high. Bush = Obama.
I've heard Peter Schiff blame the government for the housing collapse. I've heard him blame borrowers for the housing collapse. I can't recall him placing any blame on the banks who made bad loans, and whose duty it is to protect the interests of the shareholders. He'd rather blame the govt. Yes, they get some of the blame, but at what point do we recognize the culpability of shortsighted bankers who were knee-deep in subprimes and neck deep in supbprime mortgage-backed securities.
I've been watching his vids for a long time. When he condemns the banks, it's more of condemnation of the Fed. He rightly criticizes the Fed for having had rates so low for long, but he has no comparable criticisms for the banks. Built in to his criticisms of the govt is the idea the govt should know better because banks will go hog wild on lending with low interest rates, which is like placing most of the blame with the bartender who keeps serving a drunk.
In that case the bartender needs to be dealt with, but ultimately the responsibility is on the drunk (the banks). And if the drunk can't help himself, maybe someone else should. We can start by requiring that all OTC derivatives be centrally cleared.
I think those derivatives you speak of, need to be approved by the debtor(the obligee) who has his signature on the bottom line. Not seven pages up and filled with fluff from appealing collateral opportunities.
PART 1: i agree. i think peter is missing a crucial piece of the puzzle. we had limited government before, why didn't work? it didn't work because it was corrupted by the banks and their corporate friends. for instance, the banks manipulated public opinion by instigating bank runs to put pressure on politicians to create the fed. big corporations used their media outlets to put public pressure on politicians to create agencies like the ICC to punish their "unfair" competitors.
PART 2: to fix the corporate power problem we have to forbid the limited liability clauses in corporate charters. this is a free market way to prevent corporations from getting too big and too powerful. if the owners are afraid of losing their personal wealth they will be less likely to get too big. it will also allow more competition. instead of a mcdonalds or starbucks on every corner, we'll have more mom and pop businesses, like we used to.
@michaelpshipley1 the bigger problem: the establishment will not allow this to happen. they want the u.s to collapse so they can create the north american union, and when the dollar collapses as it will; thus the amero will be created. or somthing similar to that effect. Theres not enough people in politics yet to turn this raging tidal wave around. Love your enthusiasm tho. All of this is created because of the monetary system. lets get rid of it and turn toward actual resources.
Liability for corporations discourages risk taking, which would have been a good thing a few years ago...but only to an extent. On the other hand, we don't want people like doctors to take so many crazy risks.
no fault of their own. HA HA HA. Its like buying drugs from drug dealer, get stoned and crash automobile. And then sue the drug dealer to pay for damages.
bykashka75 11 months ago
This has been flagged as spam show
SchiffReport my msn in profile! Rate hike, Obama in Las Vegas
sexykatie911 1 year ago
This has been flagged as spam show
There is a high probability to date a single mom here naneedj.info
tilanesaram 1 year ago
lmao u fcke n dick obama is asume so stfu u hite guy
Damankl 1 year ago
Comment removed
killaproductz 1 year ago
@killaproductz You watch too much tv mate.
judoskeleton 1 year ago
Fuck i hate your racist homo country, fuck america and fuck this guy.......
Obama, bush, clinton, oprah.... Wtf USA who are these commercial, fake, americanz? Do you people understand your country is fucked, your people are retarted, and obama is just a guy! Forget your ying yang racist bullshit and live as a world community, cause not only God knows how much your country should nuke itself to nothingness, but the rest of the world wouldnt miss you if you did!
Love ustralia
killaproductz 1 year ago
@killaproductz lol do u know how many australians come to study abroad at my university and fuckin LOVE IT.....they are grateful and so happy for the time they spent here...you should try talking to someone who has actually lived here....otherwise stfu..we know we have problems...i kno mad americans are retarded but dont fuckin generalize and group us all in, dickface..i mean mate
shmayy 1 year ago
If Greenspan was a doctor, he could have been able to treat everytype of disease by simply giving them drug, instead of right medicine, then evey parient would had jumped out and been on high for a while at least.
grabagoodone 1 year ago 2
Obama is a Liar.
DemocraticFreedom 1 year ago
hey everyone i have some great videos about obama. tells you everthing you need to know about him hope you can handle it alot of stuff people never knew real good go watch them all in my channel
CrazyFavVideos 1 year ago
as much as some people won't admit it....but this guy speaks the truth. IMHO
sugarpaw2 1 year ago
Things don't have to change is Las Vegas---so-called Presidents are going to have to stop singling out cities in his public speeches.
chompychomps 1 year ago
great vid thanks.
Nonniemayrox 1 year ago
Time for me to buy another Scottsdale Stacker silver bar. Frightening !
pinup22 1 year ago
Doesn't it strike you as odd, that these men at the Federal Reserve are making these impractical decisions?Rather than scratch our heads, perhaps we should be willing to look at more insidious reasons for their decisions and these developments, and take the risk of being labeled, in order to bring about real discussion about what's going on?....Or keep scratching your head in bewiderment while we go down the tubes.Your choice
tet43 1 year ago 4
so what do you think their master plan involves?
koch46 1 year ago
@koch46 Sarcasm duly noted.
tet43 1 year ago
they should of paid off the debt back in 1940's when it was billions and men were making $1.50 an hour
urdum2 1 year ago
The interest should be 7% right now.
It's simple math and basic economic principles.
alwaysopen 1 year ago 2
Simple to anyone who has taken a class on economics. Last year when i was taking macro econ i thought the same thing and how the Fed doesnt take into account simple economic facts. i guess owning the money printing press changes the game :)
dugiv 1 year ago
@dugiv
"i guess owning the money printing press changes the game :) "
It sure does.
0oHIZAKIo0 1 year ago
Ditto
alwaysopen 1 year ago
This has been flagged as spam show
hello god bless if you are a christian subscribe my channel or send me a friend invite =)
SPIRITUALPRINCE 1 year ago
Excellent Video. Mr. Schiff has the impeccable logic!!!
End the Fed!!!
thomastholin 1 year ago 3
This has been flagged as spam show
The anglo saxon backed zionist are here in houston using their obama blessed minority police department to violate my civil rights because i am pro childrens rights not to have pedophile babylonian talmud reading jews spreading propaganda and running the public institutions of this country .from Giovanni orion Di Ofelia AkA Antolin Jimenez
2700giovanni 1 year ago
Obama is full of shit, plain and simple.
pretorious700 1 year ago 3
Schiff for Senate 2010!
schwarzblatt 1 year ago
Go PETER
mikeiswylde 1 year ago
The answer is to give everyone in the world a billion dollars. That way they can empty the stores and have more material shit. Demand will rapidly chase Supply and prices can rise to a Weimar level. Good job David Rockefeller and Jacob Rothchild! I am sure you will be more powerful and wealthier the worse things become!
marinello6 1 year ago 3
can anyone tell me what the relationship between gdp and inflation numbers should be?
MEXBOL 1 year ago
@MEXBOL
Since 1929, Real GDP grew at an average rate of 3.4%, from .9 trillion to 11.3 trillion. The average inflation rate since 1929 has been 3.0%, from 12.0 to 116.6 adjusted to year 2000 dollars.(year 2000 = 100, the baseline) By compounding the numbers over the past 80 years however, the GDP has out gained inflation by much more than .4%.
kegfreak 1 year ago
thx !!
MEXBOL 1 year ago
depends how you calculate infalation, and consequently, GDP
dinkolino2 1 year ago
My thoughts as well.
GDP means Gross Domestic Product and for the most part reflects all domestic spending by the citizens. In effect, all of the money you spend for food, clothes, gas and electricity go to this number. Such things as your American made cars, cell phones, ISP, health care and anything else that is generated/produced domestically goes under the heading of GDP. We are but a service nation and service ourselves unless we outsource those services. We need to manufacture to survive.
alwaysopen 1 year ago
Who is this fool? He has no idea what he is talking about.
mheine2006 1 year ago
He's one of the few who accurately predicted our current economic recession, while all the other "experts" laughed at him. Peter Schiff was, and continues to be, spot on.
KacelaJ 1 year ago
@arbitrage You know i keep telling anyone who bags a welfare person to maybe bag the brokers, bankers, real estate agents, and other rich pricks. See whats worse than a welfare person? A scum in suit and tie who helped fuk your country of trillions. And they get thier jobs back with high paid salary. They call the profits they have made now as profits. LOL More like theft after the war. Civilians lay dead on the ground. Bailed out bastards. Easy money when share market has been raped so low.
Nevawake 1 year ago
"a scum in suit and tie who fucked the country of trillions." that comment oozes intelligence! well done. the reason the bankers still have their jobs - IS BECAUSE OF THE THE US GOVERNMENT AND THE FED! they are the ones that have printed butloads of money throughout this century, and they are the ones that gave cheap money to all the bankers and then bailed them out after they gambled with it. Why is it, that people still cant get this through their heads. i mean, did you even watch this video?
ThebigTH 1 year ago
@ThebigTH dude. Ive traded nearly everything under the sun. Your: "Why is it, that people still cant get this through their heads." Is very bland. Im 37 dude. Traded for 17 years most markets. So u cant understand my poetic gibberish. Then dont understand it. ok? Re both mess. and ps. you almost failed as you almost did what was expected. Maybe in the next reply?
Nevawake 1 year ago
i dont know what you expect me to do nevawake. but you're comments were, well, i dont even know? like, what are you talking about? are you the riddler? just speak english. my comment about getting through your head is simply that you dont seem to acknowledge that the government regulation in America is the catalyst for all your economic problems. you say Bailed out bastards, like its their fault they got bailed out. WHO BAILED THEM OUT? Re both mess? explain. why are you mumbling?
ThebigTH 1 year ago
haha mate, people can live whatever lives they want. thats the beauty of freedom. are you a socialist? what do you have against this guy posting guitar videos. at least he has some compassion and feeling and isnt just a negative little weasel like yourself that tries to judge everyone on their own life, when infact your the one making the world a shitter place. do us all a favor and go hang yourself.
ThebigTH 1 year ago
uneducated nigger? haha im Aussie and im at uni right now studyng economics. so well done you sad little man. put up capital? haha like you're some fully self sufficient hero haha, is this guy serious? who the fuck do you think you are? youre a parasite. Youre obviously so filled with anger that your little excuse for a brain is malfunctioning. and i still feel great about the world. thats the difference between a legend like me and a fuckwit like you. i live a happy life, you live a shit life.
ThebigTH 1 year ago
@ThebigTH your a legend in your own mind. My advise for you is get some"depression". Then you may start to analyze the ground hog day you r repeating from the last Jack who died of Cancer and/or old age. I use to have a happy life until i started to think. Some advise. quit econmics and study Philosophy. LOL. ps do whats expected. il let you know if you reply.
Nevawake 1 year ago
get some depression? ground hog day i am repeating? last jack who died of cancer? .........is this reply a mistake? did you mean to message me nevawake? because the gibberish that is coming out of your mouth, is atrocious.
ThebigTH 1 year ago
As always, Schiff is right, although he is not as entertaining as Marc Faber.
Residential realty prices are too high almost everywhere in the USA.
How do we know this? Houses sit for sale with no buyers for months upon months.
A house price arises from the willingness of persons to bid cash within a range based mostly on location -- the elevation of land and hence views, the proximity to beaches, the nearness to others with similar wealth.
Foreclosures inventory drives prices.
TruthAxe 1 year ago 2
Ron Paul Peter Schiff 2012. or sooner if we decide to try our current politicians for treason and crimes against humanity.
hendersonn11 1 year ago 7
@hendersonn11 yeh the big con. Where a house in Australia in a dump suburb use to be $50,000. It is now 350,000 to $400,000 lol. Yeh right. wat a joke. teens paying off debt with jobs that pay rates hardly changed. haha.
Nevawake 1 year ago
iM FROM VEGAS, AND ... I TOTALLY AGREE.
vegaspilot03 1 year ago
always make scense go peter!!!!
AlMori1 1 year ago 2
been trading 12 years no grad
benjiheads 1 year ago
come back to me in in two years and watch and learn what happens!
benjiheads 1 year ago
if a mortgage broker told you to jump of a cliff and he said you will be fine ( would you jump ? i very much doubt it! so why not walk away before doing the deal and sit down and work it out , it could save you from getting shafted, but again Peter speaks the real truth the Storm is yet to come and when it does the world will feel the power of the markets trust me period....
benjiheads 1 year ago
then 3x your Salary for buying a home i.e (mortgage ) in other words you and only you walked in to the mortgage broker and the broker said "how much do you earn and you Say errrr About $50,000 year and you dont or you said you earn $30,000 which you do but you borrowed more! just so you can have the house of you dreams or to keep up with the joneses (pier pressure), please do your math and take responsibility
benjiheads 1 year ago
Until real wages rise in this country stay out of real estate. The government has been and is now the primary sponsor of the mortgage criminal enterprise. I'm not a conspiracy theorist I just follow the money. Watch how aggressive the mortgage lenders become once all their fraudulent mortgage contracts exceed the extended 3 year recession period granted to borrowers under TILA.
MrSteve125 1 year ago 3
Im a trader based in the uk, Peter talks the real truth period...everyone got to greedy borrowed to the hills living " the dream" because thats all it is a debt dream. and before the "hill billys" get on here saying its my fault your a trader you created the problem , i actually trade my own money not anyone else..go do the math if you have borrowed more
benjiheads 1 year ago 2
Vote Schiff.
jaythizzle1969 1 year ago 2
@ arbitrage
Well, I don't know who you are talking to or how I feel about the world. I do however know what I think about you!!
Oh and BTW, I highly doubt your so called "uneducated niggers" are causing western nations to become welfare states. If that were the case, who's the real idiot? Perhaps it's simply the speaker? You decide.
jawneblaize 1 year ago
well if you dont believe that then you may aswell just get on your knees and let obama shit in your mouth. you obviously lead a sad and depressive life. enjoy it. and i mean, the US is a fkn democracy. why shouldnt people try and hope for a change for the better. youre a fkn tool mate.
ThebigTH 1 year ago
"Schiff's costumers have lost up to 60-80 per cent of their earnings."
What an ignorant post! First of all, their portfolios are back up again. And if you had invested long-term with him, you would have made a killing.
Once he was asked to name 3 stocks in which people should invest and those 3 stocks skyrocketed. Just wait until the next crisis hits. I think Peter will gain even more popularity when his current predictions come true.
Kurzrein 1 year ago
I wouldn't say a 'killing" was made. Gold Bullion was a good trade, but everything else wasn't all that great. Considering you're "all in" (no/little cash) as you're a buy and hold type, you didn't have any money to invest when things were down in 2008, so the truth is you're still down in most commodity stocks over the last several years (4-5yr). Granted you should have received a bit of dividend income in a bit of things. There's no killing being made in the Schiff buy and hold strategy.
mcdonaldscalling21 1 year ago
He talks a lot of sense but I'm still waiting for his next prediction(s) to come true.
brothermikefan 1 year ago
Almost everything he says is true though; he tells it how it is, whereas the government tries to make everyone think everything is ok. Everything is not ok, billions have been spent and there is nothing to show for. He is right 100%, the government needs to stop getting involved and let people/businesses fail. Enough is enough.
Hakimster 1 year ago
This comment has received too many negative votes show
CNBC also loves having this guy on their show because CNBC is the Republican news channel. Anything to trash our own Government.
2009Jeff2009 1 year ago
This comment has received too many negative votes show
Peter Schiff needs to move to another country, as he obviously is always anti-America. Funny he enjoys all the luxury of living over here, but does nothing but trash our country. Just look at his videos from years ago, its all the same doom and gloom crap, and how "awful" America supposedly is. These doom and gloom guys keep preaching it for many years, eventually something will get worse, then they think they are some brilliant mind.
2009Jeff2009 1 year ago
This has been flagged as spam show
"Peter Schiff needs to move to another country, as he obviously is always anti-America. "
funny how so many people oresort to fox news tactics
jpkm123 1 year ago
I'd rather be a dumbass Austrian than a Keynesian genius. The Austrian comes out better in the end because he understands economic forces and doesn't try to fight them. The Keynesians think that they can turn lead into gold with monetary policy and government spending.
bigbriinbama 1 year ago 2
Keynesian Economics? LOL according to who Henry Hazlit or Hunter Lewis? Comical! If those are your sources of Keynesian analyses then I suggest you take a pre-algebra course, which is perhaps what every Austrian cult memeber should do.
kitycalifornia 1 year ago
I have my own analysis of Keynesian Economics. you don't need to be smart to see that It is retarded. Just look at America right now. They've borrowed a butload to stimulate the economy during a downturn, and what have they achieved? NOTHING. the economy has NOT gone through the recession it needed. yeah it may have had a stock market crash for a year or so, but it has not restructured itself like it should have. The problems aren't solved and the economy is still veering off course. keynes=dud
ThebigTH 1 year ago 2
How about you give me some examples of when Keynesian based economic policy has lead to anything positive. and why dont you give me some real life examples of when austrian/free market economic policy has had a negative effect on the economy of a specific country. the truth is that most developed nations had their greatest and strongest economic growth during periods of very low govt intervention, and then it goes downhill over time as govts start to fuck things up.
ThebigTH 1 year ago
Its actually funny reading your comment because you're that fucking brainwashed. How can you believe in Keynsian economics, when you live in america and unemployment, including discouraged workers, is around 17%. I mean, you'd have to be an absolute gimp to think that the stimulus was the correct policy for the situation. and it is proven in the current state of the US labour market, which is completely FUCKED. you're a fool.
ThebigTH 1 year ago
@kitycalifornia show me one of theit prognostications that has come true and I might consider you to be a serious individual and not a recently graduated, brainwashed fool. Tell me, what did the Keynesians predict would happen after WWII?
bigbriinbama 1 year ago
@kitycalifornia You explain 1946 to me and maybe we can talk. Until then your just another skull full of mush.
bigbriinbama 1 year ago
Schiff's costumers have lost up to 60-80 per cent of their earnings. LOL this guy is another Austrian clown. What a disgrace to Berkeley. Man should stick to accounting, because obviously he's a clueless investor, and a horrid economist.
kitycalifornia 1 year ago
Are you joking? Please give us your best analysis of the current economy and what we should do to correct it. Good Luck.
lenny380 1 year ago
@kitycalifornia - you display your lack of intelligence by your poor spelling. Therefore you are in no position to criticise Peter Schiff or anybody else.
MsBountiful 1 year ago
@MsBountiful
Kitycalifornia didn't misspell a damn thing you fucking ass clown
LovelesEntertainment 1 year ago
Wow - the neanderthals are multiplying. God help us all.
'Customers' is not spelt 'costumers'.
MsBountiful 1 year ago
and spelled is not spelled 'spelt'
..... you assclown.
LovelesEntertainment 1 year ago
Ron Paul for FREEDOM!
jcNOVA88 1 year ago 2
Schiff, you're bang on the money, and I follow each and every one of your videos from now on. Keep up the good work, and here's wishing you all the best!
russwestwoodAgain 1 year ago
Oh man, "sometimes life isn't fair" will not make for a popular political slogan, which is sad because that is 100% true.
microdeath123 1 year ago
you mean the truth isn't politically safe to talk about?
kobe88124 1 year ago
This comment has received too many negative votes show
wow, Schiff is criticizing again with his powerful rhertoric. I´m betting this guy believes he´ll be in the Whitehouse one day as the first jew to rule the planet. His fans are thinking that once in, rainbows will emerge from his pee, everybody will have a house and car, and his shit will smell like sweet roses on a warm summer morning.
Schiff, STFU! You shoot out in all directions and think you´re so clever when you get lucky once in awhile.
Rata4You 1 year ago
@Rata4You
Consistency is the mark of this man intelligence. While everyone goes from one bubble to the next, intelligent austrian's understand that it is the cheep money provided by the fed that drives false demand that will destroy this economy. Peter is dead on and usually the only inaccuracies he couldnt predict were how bad the govt was going to respond to the whole crisis.
Isosceles135 1 year ago 2
you're a dumbfuck...please hide your head in the sand or go shoot yourself. seriously, there's no point in even trying to argue with you. waste.
kobe88124 1 year ago
The housing bubble would have happened even without the subprime mortgage crisis. But, maybe not as severe. Consider the birth declines of the last 50 years & the dying of baby boomers. Thus, 40% of the workforce will be removed from the largest volume of existing housing ever built in the US. Resulting in millions of vacant house due to the inability of the X & Y geners to consume them all.
PragmaticStatistic 1 year ago
Where is immigration in your calculation... ? As your statement is true about the baby boomers the population of the country as a whole is not static...
IshkyBahhah 1 year ago
As for my mortgage, when I lost my job & unemployment in 2006, I obtained a $300,000 line of credit against my home, fixed it up, managed to sell it, pay off all $180,000 in debt & moved south. Where I bought a smaller home for cash. The economy crashed, 12% unemployment here & so I am forced to retire. Lost 401K to manipulation. Waiting it out to Social Security in 17 months. My wife & I were smart enough to see the housing bubble burst coming before it hit. Not all of us were irresponsible.
PragmaticStatistic 1 year ago 3
As for the banks adjusting mortgages, that is not going to happen in large enough numbers & so far hasn't. I believe the reason why is that the financial instruments backing the loans are now bundled with other loans and have been resold & resold & resold. The current investors in these bundled investments paid a high price & reinsured them with credit default swaps that will pay off if the bundled investment defaults. Thus, they don't profit by allowing the homeowner to salvage the mortgage.
PragmaticStatistic 1 year ago
What the Job Stimulus really did was to put local & state obligations on the national debt. Local & state gov'ts lost revenues due to the devaluation of homes & other lost inclome. They then used it to keep from raising taxes & retained their staffs by faking layoffs to get the public upset to justify the use of Stimulus funds. Thus, they can claim they saved jobs. The problem is what will local & state gov'ts do when the Stimulus runs out and there is no more coming?
PragmaticStatistic 1 year ago
somebody needs to examine why our elected idiots always do the mose wasteful stupid thing possible.
SGDeGalvez 1 year ago
Because they are in bed with the FED.
So long as the fed keeps printing / typing money into the system, and congress is allowed to raise their own salaries along with the increased money supply, things will stay the same.
chicagomixologist 1 year ago
One of your better videos; keep it up.
selfrealizedexile 1 year ago 2
He also wants to install energy-saving light bulbs and replace old heating systems in federal buildings. School buildings would get an upgrade, too.
Obama says he will announce other details of the economic recovery plan in the coming weeks. He says hell work with Congress to pass the initiative when lawmakers reconvene in January.
winner502 1 year ago
AP
Published: December 6, 2008
President-elect Barack Obama says hes not just going to throw money at Americas economic troubles.
In his weekly radio address on Internet video, Obama has laid out details of an economic plan he hopes will save or create more than 2 million jobs.
He says he wants to make the largest new investment in the nations infrastructure since the creation of the federal highway system in the 1950s.
winner502 1 year ago
Good stuff Peter, sensible and accountable.
CliveSinclairZX 1 year ago
@Arbitrage
Shut up. Your transparent trolling with attempts to create diversions and issue confusion aren't going anywhere.
.
kmg501 1 year ago
It takes a lot of courage to deliver truthful messages that people don't want to hear. And that is what separates people like Schiff and Ron Paul from the pack, principled honesty when they know that the truth is very unpleasant.
.
kmg501 1 year ago
Inflation has begun. We are heading for the cliffs now and the brakes don't work.
Shameonfed 1 year ago
you tell 'em pete.
chroNick546 1 year ago
This comment has received too many negative votes show
Wall street jew thug still operating in wall street/youtube? Wow I would be surprised if there still ppl who listen to your kind.
spinm101 1 year ago
Mr. Schiff...can you get me a job?
reelavenue 1 year ago
lol the Marketers on the Side of this Video I think are against what Schiff is saying. Go to Hell!! lol does Schiff support going to Hell?
Budvb 1 year ago
This comment has received too many negative votes show
I live in CT, this guy doesn't impress me.
Brooksley Born said, (1998) the market was going to collapse, she recognized that the financial security of all Americans was being put at risk by the greed, negligence and opposition of powerful and well connected interests...
Peter Schiff saw the crisis coming as early as 2002 years after it was predicted to collapse by Brooksley Born.
Pete is just another republican talking head.
Stillahills 1 year ago
but brooksley born only half understood the issues, attributing the problems to deregulation, while neglecting to mention the artificially low interest rates set by the fed and the ripples of previous regulation (I.E. Community reinvestment act, FHA, FDIC policy/moral hazard,) . also, you forget, peter schiff saw the nasdaq bubble about to pop in the late nineties as well. forget partisan politics man, it gets you nowhere.
HereticNix 1 year ago 3
Comment removed
Stillahills 1 year ago
This has been flagged as spam show
@ HereticNixTell
I am an Independent.
Jim Hines is a congressmen from CT, he worked as a vice president for Goldman Sachs.
He sits aboard the House Committee on Financial Services.
He made the argument that he understood what was right for our economic down fall.
Nothing has been done to fix the system.
I don't see Pete doing much more than what Jim Hines has done.
He better find something else to put on his platform other then his finical understanding.
Stillahills 1 year ago
When the dollar loses more in value, I'm sure you'll just put the majority of the blame on Republicans.
takerdust 1 year ago
The banks are holding trillions of dollars in their vaults, they are not loaning any cash, so we are safe as long as they keep the money.
They don't appear to be willing to depart from their current trend. They know if the cash flows they will hyper inflate the dollar.
Stillahills 1 year ago
Schiff is much closer to a libertarian than to a republican. He wants to run on the republican ticket because he wants to win, not just make a statement. Schiff also predicted the collapsing of the tech bubble back in the 90's, you just didn't hear of him then.
christo930 1 year ago 3
I call upon a band on supporting the BANKS that have been bail out.
I call upon to legally challenge the derivatives markets that defraud investors from check and balances the reassure who and who does not have building debt. This derivatives markets needs to be challenged all the way to the Supreme Court..... Example Goldman Sachs, and Greece..
idrobinhood 1 year ago
Quick note. I just saw Laffer on Beck. What a joke. Beck made a great speech today but, where's the beef. Give me a break. Laffer.."Give Politicians a commission". What a bunch of crap. How about if they want to make a lot of money they work in the private sector producing something besides paperwork?
Why aren't you on there Pete. They're scared to death of you. It would mean the end of the KOOLAIDE generation? The talking heads
Great Job Pete! Keep up the great work.
Joe
joescarafone 1 year ago
Peter has an amazing attitude!!!!!!
Friendorfoeforever 1 year ago
If these are the same financial advisors ex fed sec. Henry Paulson (I don't believe the subprime crisis will spread to the rest of the economy) was employing to spin his web of decete ..
I don't think Obamas 2 million jobs story is much better.
brotherjupiter 1 year ago
This has been flagged as spam show
"From hunters and gatherers, to the agricultural revolution, to the industrial revolution - the pattern is clear. It is time for a new social system which reflects the understandings we have today."
Click my channel
TZMNorway 1 year ago
Most economists accept that the stimulus created some jobs, albeit many fewer than Obama claims. I don't quite buy into Schiff's "question authority" schtick.
baigandine 1 year ago
This guy's finished in Connecticut I guess, too bad.
Not a word about him in the race there, never shows up in polls, maybe they don't ask about him.
RuflessRecords 1 year ago
hey bro, we know full well obama is a liar. hope you win this fall.
nurser11 1 year ago 3
The worlds largest financial lawsuit filed against SEC. SEC used in producing phantom shares in the order of trillions. Media shuts up about it. Claims are raised that SEC/CIA and other authorities are using "ponzi schemes" to fund a shadow government. Google: "CMKM/CMKX"
Casar1973 1 year ago
I cannot believe people say that .25 percent is so amazing. That is giving the Fed way too much slack.. Besides the Funds rate is still at 0-.25 percent! So the printing press is still completely on hyperdrive... Thank you Peter.. Thank you... Those mothers fuckers at the Fed lol...
Overcastkid747 1 year ago 5
I think what pissed me off the most about Obama's TARP Anniversary speech was that he said, very blatantly, that there were no earmarks in the TARP bill. Excuse me?!
thepeff 1 year ago 5
@thepeff Since earmarks (also knows as bribes) are legal, they are a good thing to use because it brings back money directly to the taxpayers on state projects, rather than leaving it for the federal government to waste. But earmarks should be outlawed.
gotitans999 1 year ago
Earmarks are terrible in that they take federal money (which if collected and used, should benefit all americans) and use it to benefit only a certain percentage. This practice also detracts from our civil liberties. For instance if a state lowered their drinking age from 21, it would lose its federal roads funds. Whether it comes out of state or federal tax money, it still comes from the taxpayer. Since the money flows from tax payer, to the feds, to the state, the states lose rights.
thepeff 1 year ago 4
Great job Peter!!!!!
nyteaparty 1 year ago
I think that it is amazing that after all these many years of money printing that people think that raising interest rates a few points would immediately reverse everything and take the inflation out of the system and tank commodities.
The damage from too much money should be with us for a very long time.
GomersRevenge 1 year ago
Peter Schiff is a great patriot. I wish more knew about him.
dabruin2 1 year ago 2
Excellent video Peter. Many great points.
wachman 1 year ago 3
Peter has held his ground on the same note for a very long time. Props to you peter
lespaul369 1 year ago
Today's banks are fascist, disguised as capitalist. Let them fail one by one, big or small. We will all be better off in the long run when the public rejects these parasitic institutions and preserves and grows his and her own wealth by prudent and independent saving/acquisition of tangible commodities for trade. Fiat currency and credit are the undoing of societies in the long run. I would go as far as to say that mortgages should not even exist. My middle class dad didn't need one.
mcourtmiller 1 year ago
"A private central bank issuing the public currency is a greater menace to the liberties of the people than a standing army...We must not let our rulers load us with perpetual debt." - Thomas Jefferson
mcourtmiller 1 year ago 5
The federal reserve system is exactly the problem.
They are issuing "bills of credit", federal reserve notes.
John Adams -
"All the perplexities, confusion and distress in America arise, not from defects
in their Constitution or Confederation, not from want of honor or virtue,
so much as from the downright ignorance of the nature of coin, credit and circulation."
Benjamin Franklin -
"When the people find that they can vote themselves money, that will herald the end of the Republic."
tkcomputerservice 1 year ago
@tkcomputerservice The Fed would not even exist if the Elected Gov Officials decided to cease its existence.
It all comes back to Government and their decisions.
You people need to decide if they're going to listen by immediate and permanent removal by force, if that's even possible anymore, or are you going to skirt around the dance floor until you're dead and gone when someone else just takes your place. One way or the other real change is going to be brutal. You may as well get on with it.
mcdonaldscalling21 1 year ago 5
Peter Schiff shouldn't run for senate, he should run for presidency.. That suits him and the US citizen far more than the Ohyahyah
MrBigpopo 1 year ago 2
The only reason the fed has raise rates now is because they know inflation is around the corner and the stumulus money has come back home to roost !!!!!!
acechoice45 1 year ago
You gotta love Pete's honesty and directness. Good Job Pete
LeviiCity 1 year ago
The Fed's discount window has cobwebs from neglect. Banks are flush with cash and not lending. Raising the discount rate 25 bps has no effect on anything.
The Fed is just throwing a bone out to give the dogs something to chew on.
4KnowWon 1 year ago 2
Peter Schiff for senate!
yushaos 1 year ago 2
this guy is awesome
undregroundfreedom 1 year ago 3
Yes, Obama is completely wrong about real estate. How can we allow such a nobody to be President of the US?
focus21x 1 year ago
Spot on as always, Peter 5*.
1974wolfman 1 year ago 2
Once again Pete, Great insight.
1beinki 1 year ago 4
I think the FED spotted 10-yr t-rates increase too much
LysSpooner 1 year ago
Peter is on fire in this vid
g00se99 1 year ago 5
I know one city who won't be voting for you if you ever run for president!! hehe. Go get 'em Peter. Tell 'em like it is!
EdgeRetro 1 year ago 2
Great vlog, Peter. Obama is so full of shit.
SPVTrading 1 year ago 8
Barack Obama is a typical politician, much worse than George W. Bush, because it's a wolf dressed up as a sheep, whereas Bush was a wolf dressed up as a wolf...
jcortez73 1 year ago 4
That's pure Schiff! Go get 'em, Peter!
hephernorth 1 year ago
damn, that speech had peter fired up....and rightly so. We've got to get this guy in the senate.
jamesguzman1 1 year ago 2
Go Peter. Slammed Obama in 9 mins and 50 seconds.
Intervene 1 year ago
oh comon peter, Bankers prayed on unassuming and unsophisticated borrowers.
fazholio 1 year ago
Well borrowers need to stop being so stupid then. People need to take accountability for their own actions. I'm sick and tired of people wanting to blame other people for their own braindead decisions.
g00se99 1 year ago 4
Yes but lets worry also about those that knew very well who they were manipulating and robbing shall we...?!
fazholio 1 year ago
Your not making any sense. Your original comment strongly indicated that you thought Peter was being unfair for saying that consumers deserve some blame. Peter over and over and over and over has stated that the root cause is the Fed/Govt but Financial Instutitions and most certainly the public also have to accept some blame.
g00se99 1 year ago 3
Lenders need to stop being so stupid too.
baigandine 1 year ago
@Vid
Interesting, liked it.
MRSketch09 1 year ago
EVERTYIME I jump out of my skin as Peter's video starts extremely loudly compared to the previous vid.
FUZZYisBIG 1 year ago 2
^Lol true... cuz its like he drank 2 red bulls before the vid starts... but i would too, if i had some good things to say and had to squeeze it in 10mins or less.
23rdParadox 1 year ago
Jesus, I love this guy!
crubeo 1 year ago 3
Great!
johnnyfenger 1 year ago 2
If you don't pay your taxes the government will take your house.
If you don't pay your mortgage the government will give you a house.
Owing the IRS more than you can pay is not always intentional.
People who lose a job and then find work as an independent contractor are in for a rude awakening come tax time. You're better off taking unemployment and defaulting on everything.
therealcaptobvious 1 year ago 5
Now, there's change I can believe in.
curiouschem 1 year ago 3
yeah Pete, keep it real. Nobody's talking about China's savings. If they have savings, why are people pushing them to raise their interest rates? yes, Vegas' real estate TRIPLED. Obama doesn't have a plan to save social security.
the bailouts need to stop, period. They're putting that in the Finance "reform". Call it swiss cheese no matter what they do. Just get rid of permanent TARP.
Prices need to drop. Sub primes kept the prices way too high. Bush = Obama.
therealcaptobvious 1 year ago
I've heard Peter Schiff blame the government for the housing collapse. I've heard him blame borrowers for the housing collapse. I can't recall him placing any blame on the banks who made bad loans, and whose duty it is to protect the interests of the shareholders. He'd rather blame the govt. Yes, they get some of the blame, but at what point do we recognize the culpability of shortsighted bankers who were knee-deep in subprimes and neck deep in supbprime mortgage-backed securities.
DrTimWhatley 1 year ago
Watch some more of his vids...and you will se hime talk about shortsighted bankers as well(>:
earthwayexperience 1 year ago 2
I've been watching his vids for a long time. When he condemns the banks, it's more of condemnation of the Fed. He rightly criticizes the Fed for having had rates so low for long, but he has no comparable criticisms for the banks. Built in to his criticisms of the govt is the idea the govt should know better because banks will go hog wild on lending with low interest rates, which is like placing most of the blame with the bartender who keeps serving a drunk.
DrTimWhatley 1 year ago
In that case the bartender needs to be dealt with, but ultimately the responsibility is on the drunk (the banks). And if the drunk can't help himself, maybe someone else should. We can start by requiring that all OTC derivatives be centrally cleared.
DrTimWhatley 1 year ago
I think those derivatives you speak of, need to be approved by the debtor(the obligee) who has his signature on the bottom line. Not seven pages up and filled with fluff from appealing collateral opportunities.
curiouschem 1 year ago
PART 1: i agree. i think peter is missing a crucial piece of the puzzle. we had limited government before, why didn't work? it didn't work because it was corrupted by the banks and their corporate friends. for instance, the banks manipulated public opinion by instigating bank runs to put pressure on politicians to create the fed. big corporations used their media outlets to put public pressure on politicians to create agencies like the ICC to punish their "unfair" competitors.
michaelpshipley1 1 year ago
PART 2: to fix the corporate power problem we have to forbid the limited liability clauses in corporate charters. this is a free market way to prevent corporations from getting too big and too powerful. if the owners are afraid of losing their personal wealth they will be less likely to get too big. it will also allow more competition. instead of a mcdonalds or starbucks on every corner, we'll have more mom and pop businesses, like we used to.
michaelpshipley1 1 year ago
@michaelpshipley1 the bigger problem: the establishment will not allow this to happen. they want the u.s to collapse so they can create the north american union, and when the dollar collapses as it will; thus the amero will be created. or somthing similar to that effect. Theres not enough people in politics yet to turn this raging tidal wave around. Love your enthusiasm tho. All of this is created because of the monetary system. lets get rid of it and turn toward actual resources.
drummer4life534 1 year ago
Liability for corporations discourages risk taking, which would have been a good thing a few years ago...but only to an extent. On the other hand, we don't want people like doctors to take so many crazy risks.
baigandine 1 year ago