The Schiff Report Peter Schiff Responds to Obama (04/14/ 09)

[react1200]

U have it wrong, Hoovers Smoot Hawley Act which raised tariffs prolonged the depression, that is a fact my friend! Also, corporations and wall street who supported the Nazi regime (Alcoa, JP Morgan, Standard Oil, GM and more) were duplicite in weakening the US economy after the New Deal was announced. Ur Austrian/Slaes school of thought is the one that is flawed. The retooling and infrastructure of the economy is what led us out of that nightmare due to increased productivity!!

[fuzzywzhe]

> U have it wrong, Hoovers Smoot > Hawley Act which raised tariffs > prolonged the depression, that is a fact > my friend! Also, corporations and wall > street who supported the Nazi regime > (Alcoa, JP Morgan, Standard Oil, GM > and more) were duplicite in weakening > the US economy after the New Deal > was announced. Ur Austrian/Slaes > school of thought is the one that is > flawed. If this system is so right, why is Alcoa, JP Morgan, Standard Oil, GM still in business?

[react1200]

System isn't right. The truth was not revealed until after the Death of Rosevelt. by Justice Dept head James Stewart. After that things went down. American Liberty League (financed by these corporations) brainwashed the public into thinking FDR's policies were unamerican. Things really went downhill after 1968 and the death of JFK who wanted to abolish the FED. We had maintained a protectionist society and the government helped spur production. Privatization is only after $ and are greedy

[react1200]

When Truman took over he once again began to follow the Churchill's (Banks of London really) policy of euro colonization. FDR wanted 3rd world countries to develop. Imagine that! He wanted a free Africa and India. Peter thinks privatization is the answer, think about it, they are only after profits, think about what happened in Cali when they allowed for privatization of electricity. Look at Argentina. DONT BE A FASCIST PETER SCHIFF and RON PAUL!!

[fuzzywzhe]

> FDR wanted 3rd world countries to

> develop. Imagine that!

FDR allowed the bankrupt banking system in 1933 to steal everybody's wealth by confiscating their gold. Those same banks, taht made STUPID risks, that lost their DEPOSITOR'S money, were given the entire country's private gold supply so they wouldn't be swinging from lamposts when it was discovered that they lost EVERY despositor's money.

What a guy FDR was.

He was a facilitator, just another criminal.

[react1200]

What led to that was lack of trade, Hoover's high tariffs hindered trade. Research Emergency Banking Act. The gold was stored to restore confidence in our money. Thats how in 1933 he saved people from starving/going broke. Banks actually had real assets in those days, thats the only way they were able to borrow from the FED.

[fuzzywzhe]

> What led to that was lack of trade, Hoover's high tariffs hindered trade.

What you mean is what "led to that" was GOVERNMENT.

And that's pretty much Shiff's entire argument. The government does nothing but fuck things up, and passes laws to make certain they stay fucked up.

> The gold was stored to restore confidence in our money.

It was stolen from Americans so foreign creditors could get their money back.

[787Bisurdaddy]

"think about it, they are only after profits"

I think it the height of ignorance when a person complains that free market advocates only care about profits, while crowing the virtues of the state as if it weren't bleeding its people dry. I'm absolutely dumbfounded every time I read such a comment.

The state only enables greedy people to satiate their greed "legitimately" through the use of force. It eliminates competition and creates a legalized monopoly on anything it provides, THAT'S IT.

[react1200]

It was Hoover's trickle down economics and deregulation that created the depression. There was a centralization of wealth, it was acquired fraudulantly. FDR came in, purged the banks, regulated, protected and created. Truman came in, repealed, created CIA and low and behold were in the UN. Thats globalism for you kids.

[787Bisurdaddy]

"It was Hoover's trickle down economics and deregulation that created the depression." etc.

Wow. I don't know how to respond to such revisionist history. The only times that government has actually improved things is when the administrations took a limited role and allowed things like the economy to fix themselves.

[react1200]

Revisionist theory??? Hoover appointed Andrew Mellon and president of Alcoa who created a shortage of aluminum in the US and sold it cheaply to the Nazi party. Mellon promoted Laissez-faire capitalism and trickle down economics which led to a centralization of wealth. We just saw the same with Bush.

[787Bisurdaddy]

And what does ANY of that have to do with deregulation? (Here's a hint: government interference like the kind you just mentioned is the absolute opposite of deregulation.)

[react1200]

Peter wants to completely do away with any regulation of the markets, well that doesn't quite work and has never worked. You need to go back and re-read my posts. Its all relative, cause and effect.

[787Bisurdaddy]

"well that doesn't quite work and has never worked."

It's NEVER HAPPENED. We've never had a completely unregulated market. You're operating under false pretenses, using revisionist history to support your argument. That's why I'm not the only person disagreeing with you.

[fuzzywzhe]

> Peter wants to completely do away with any regulation of the markets,

> well that doesn't quite work and has never worked

SURE it does.

Let bad companies eat their mistakes. Let the banks that have made wreckless bets on giving deadbeats loans of 600,000 for a shoebox home, go under.

That's a free market. Not only do you make money when you make good decisions, you go BANKRUPT when you make bad ones, AND you face consequences from bad business decisions.

[react1200]

FDR repealed Hoover's actions, implemented bottom up economics, purged the banking system and the corrupt corporation and Wall St through the Pecora Commission, and expanded infrastructure. Peter is wrong about FDR and his follower should take a fucking history class.

[fuzzywzhe]

> I think it the height of ignorance when a person complains that free

> market advocates only care about profits, while crowing the virtues of

> the state as if it weren't bleeding its people dry.

Liberals are just Libertarians that don't realize yet that the government isn't acting and never will act in the best interests of the people they rule and they believe that the government can be controlled. They just don't realize that government acts and IS a mafia.

[Tigerpoi51]

70% consumption - 30% production. Living beyond our means. It had to fall eventually.