Peter Schiff On CNBC 08_27_10 - Monetary vs Fiscal Policy Fix

[tonyg0123]

Before I watched this video, I was thinking and gonna write "here is Peter Schiff educating another professor on the economy", but finally a professor has approved of what Peter is saying. It's about time. Maybe this will be a pattern among professors??? lol

[Delpifo]

I feel sorry for Americans who have a mafia boss for a FED chairman. Do people really beleive his fictional deflation propaganda?

Just the fact that the congress have no legal rights to oppose the FED says alot about how much control the banksters have on the whole political system.

I just hope that a nuclear war against china will be the end result when the whole american economic system collapses.

[jezza1789]

wow that girl is hot. Its funny how Ben Bernanke believes his easy money polices will work long term, its a bank royal familly if you ask me just like the rich czars in Russia and the depressed public so sad it came to this.

[casienwhey]

this hostess is absolutely terrible. Why can't they get a person on air with some substance and intelligence!

[TheBlitz1]

PETER SCHIFF WILL RAPE YOU WITH THE POWER OF REASON

[je10023]

"i agree with a lot of what peter just said..." why isn't bill ford advising the fed or still there? guess he'll never get anywhere near there again after agreeing with Schiff.

[AuntyEstablishment]

Peter has Big Balls!

[Seano71]

yeh schiff, he should have let the debt spiral continue until everything dies. He's talking rubbish here, though many of his views are spot on

[BeholdZeus]

Consumers make up 2/3 of the American economy...oh no...disaster is afoot.

[KSTCBH23]

@BeholdZeus Another way of looking at it is that 2/3 of our economy is involved in consumption, leaving only 1/3 left for savings and investment. However, I wonder what proportion of the economy is government spending (money took from the private sector and earmarked for consumption).

[bigheart270]

She hot in the leather jacket!!!

[BeholdZeus]

Recovery! Oh, the lies! This just gets better and better. The media and the corporate sector are like a brazen old troglodyte grasping at the golden balls of Wall Street. GDP decreased to 1.6% - revised down from 2.6%. China holds all the cards. Time for the American empire to sink into the mud of its own greed.

[TheBlitz1]

@BeholdZeus ah best comment ever

[AFRIKTODAY]

Ben " Mao-Karl Marx-Polpot-Lenine-Staline-Hit­ler-John Law" Bernanke!

Would you rely on such a guy for economic issues?

Well, what about swallowing cyanide!

[sonofaglitch2]

Bernanke's been shooting blanks.

Recovery...hilarious. Thank goodness for Peter Schiff to bring reality to the Fed puff-piece.

[KnaveChild]

Does anyone actually believe these morons with their fancy econo-speech, designed to confuse the people. WAKE UP....WE ARE BEING FLEECED.

[KnaveChild]

Tools = LETS PRINT MORE FUNNY MONEY!!!

[jibbi4one]

Everyone on this program is on the same page on what the best economic policy remedy should be but the Fed, Treasury and Gov't.

Guess what ? The gov't could care less about growing a stable economy, it does what's best for their corrupt elites.

[pretorious700]

I stopped this vid when she siad "Ben Bernanke promises".....anybody agree this is not the best way to preface your presentation?

[FreedomForUsAll]

"We need to export to people who have savings that can afford to buy things."

Now that's some wisdom the Fed Chairs don't hear every day...

[tonyteb]

@jaguarclaw fdr now thats funny shit

[tonyteb]

@jaguarclaw ron paul and half thought ideas you must be a moron

[campaign4liberty]

Ron Paul 2012

LibertyPoet

website

[BlueEagle8]

"Peter, did Bernake satisfy you in any way?" 

[astro7894]

Is that a mountain of freshly printed cash i see behind him!?

[MIT2004]

Ill fucking spray that bitch

[notpcone]

Bernanke: Spend, Spend, Spend. It's all he knows how to do. Funny thing is......the money spent will NEVER be seen by the American taxpayer.

[dougcapehart]

I'm waiting for interest rates to hit -1%  PAY ME TO TAKE YOUR MONEY, YOU STUPID BASTARD BERNANKE!!!

[Budvb]

The Ship is Sinking and all they are doing is screwing around with the Water! The Water is what is sinking the ship but yet we want more Water added onto the ship!

[LibertaerUeberAlles]

Why doesn't he mention HR 4248, which legalizes hard money? Why doesn't he mention ending the Fed, altogether?

[cmonpeeps]

My friends, we are surrounded by morons!!! Who the hell cares what James Bullard thinks! Who the shit is that anyway? Plus, he made no damn sense at all. " ...growth will pick up in 2011" Are you insane? Oh, because you said so. Good enough for me.

[MoneyIsSilver]

fuck the government, and open up your business on freeworldmarket(dot)com

[strawjam59]

Did I just hear the ex President of the Atlanta Federal Reserve say Peter is right??

[Yeuxvert]

@strawjam59

Yes you did! Amazing! More than just Peter Schiff, Ron Paul and Alan Grayson have a clue! There is a glimmer of hope (REAL hope) on the horizon. Maybe after the coming collapse we will actually begin to enact sound monetary and fiscal policy!

[pretorious700]

@strawjam59 Yeah, and he can only make these well reasoned observations publicly because of the "ex" part.

[Wishingstarification]

@strawjam59 Peter Schiff's views are now becoming mainstream. It would have been useful for people to agree with him years ago, before the collapse occurred!

[je10023]

no wonder people like Bill Ford aren't invited/welcome at the FED these days. he's not perfect in that he doesn't understand that we're in a depression but they all can't be like peter. so funny to see lamestream tools actually coming over to peter's camp. Get Bill Ford back in the FED and make Peter Fed Chairman or at least Treasury Secretary. obama is being advised by people like Larry Summers who lost $500 million investing Harvard Univ. endowment.

[lindabebe835]

Bernanke does not know shi*!!

[Bullionaire90]

"Peter is right". I think more people will be starting to say that a lot more often.

[LordDyhalto]

I disagree with Peter Schiff on deflation being good. Deflation refers to a decrease in the money supply.

Yes, it will translate to lower prices. However, considering that most of America is deep in debt, this makes acquiring money to repay that debt more difficult to achieve. Deflation is good when you're debt free and have a lot of savings, not when you're in the situation we're in.

We do need more stimulus money. The problem is, WE need it. Not banker f*ckheads.

[rmccay88]

@LordDyhalto

You have to keep in mind though that it doesn't matter if paying back debts is easier in the form of inflated money supply. That's exactly the problem. We are going to have sky high interest rates and a vastly devalued currency because of the polices they are doing. From a long-term fundamental economic standpoint we need deflation, instead of the Fed purchasing debt and government propping everything up. That's only making the economy sicker.

[LordDyhalto]

@rmccay88

Well, you're positing that the system still functions logically and we can, at least theoretically, recover from this.

Realistically speaking, there's no long term hope for the USD. The only solution is the usual "End the Fed", nationalize the printing press, and print 0% interest money to finance massive infrastructure projects with a mandatory Made in USA rubber stamp.

Of course, that won't happen. So for now, a little inflated liquidity helps us in-the-knows to prepare.

[rmccay88]

@LordDyhalto

I am saying what is logical and needs to happen. You're correct about what will happen to the dollar if we don't change what we are doing, it's going to fall a lot regardless but that's the exact reason why you reverse course and change policy.

[FGTBOGSAT]

Liesman is a Fed shill.  Double dip? We never got out of the first dip!

[FGTBOGSAT]

Liesman is a Fed shill.

[JP5466]

@FGTBOGSAT CNBC is a fed shill.

[CheekyMonkey888]

The reporter is called "Lies"man?

[trumpsahead]

My Good God! A miracle on Wall Street. An entire 9min segment where two other high ranking economists, Ford and Feldstein, agree with Peter Schiff. Omg, I have tears in my eyes.

I wish people of this caliber would now begin advising small businesses to allow & encourage consumers to buy their products with gold and silver; with inflation about to explode I think the premiums paid for gold and silver will justify g/s purchase. At least we will not be so monetarily victimized by govt's corruption.

[EdgeMugga]

@trumpsahead This is a suggestion. If the government won't do the peoples bidding, then the people should stop using the governments funny money all together. Start making agreements based on the value of metals in dollars effective the day the agreement is struck. Take gold or silver in payment whenever possible -- Damn the FERN!

[trumpsahead]

@EdgeMugga

I think I just said that. But g/s prices fluctuate constantly, and a fair way would be to value the g/s as at the close of business the day before, with the price good for one day; this repeated every day. This is exactly how the price of OIL is figured so we don't have to carry a calculator all day, and we know all stores will have the same price. If a store wants to accept less g/s for a product it is their prerogative as a discount price. Can't wait.

They do this in Indonesia.

[D33Lux]

That chick is annoying, she should shut the heck up and let them speak. Brainless eye candy bimbo

[drudometkin]

@D33Lux I was gonna say the same thing. Dumb broad thinks this is a joke.

[elboertjie]

@D33Lux I suspect that she was hoping that the ex-fed guy would appose Peter, but when he chimed in with Peter, she had to take the stance of the policy makers who pull the strings behind the scenes and sort of fight them whilst not officially fighting them.

[kobe88us]

Steve lesman agrees with EVERYTHING the govt/fed does. Dude do you ever think for yourself?

[dmkwils]

@jaguarclaw Schiff speaks the truth. You must be a Nobama keep the change buttkisser.

[CurtHowland]

"Additional easing".

Does this fool have anything else in his toolbox? ANYTHING?

Volker did, and brought the 1970s stagflation to a screaming halt.

[pulsescan72]

3:45 they admit that the Fed is manipulating the market i.e. "If they let it....." what do you mean "IF" "THEY" ??? So then the Fed is propping up this Ponzi scheme.

[cjandlex]

Schiff's the man.

Period

[BroBroDude]

This bitch is retarded. Shut her up.

[SouthernKudzu]

Finally mainstream media is actually allowing the public hear the the true doom & gloom that it is and not sweeping it under the rug.

[veritasfiles]

Schiff was right again on this one.  I wonder when CNBC will actually get a clue. Will it be after a double dip or after we've been in an all out depression for 10+ years?

[planetcave]

The Fed and the government keep beating the dead horse. These delusional putzes (Fed) are either the biggest enemies of the American people or they're just nuts. The U.S. has been on borrowed time since the 70's when they began gutting the U.S. manufacturing base and financed consumption with debt. All of the national wealth has been squandered over the past 30 years - time to pay the piper.

[yakyakyak69]

Lipstick on a pig.

End the FED.

Watch "Money as Debt" here on YouTube!

[dirtbagstatus]

Que Peter Schiff was right again videos.

[chuska8383]

Our countrymen need to wake up to the fact that the economy is being imploded by design and on purpose.

[MRSketch09]

@Vid

That woman annoyed the hell out of me. She made me think of someone just blindly running toward a wall, and someone would try to say hey, don't do that... and despite all common sense, she just goes faster... owell.

[pretorious700]

there is no fucking recovery you scumbags

[campeona5]

Where was this guy 3 years ago!? well it's a start.

[whxonix]

CNBC is waking up. I'm impressed. Peter good to see you back - hopefully more 'reality' entries will feature via financial media. Bloomberg is clearly still stuck with their head in the sand.

[kiwicalibre]

shut the fuck up woman... we're interested in your guests opinions not yours.

[TheReallitycheck]

People need to realize that the Fed has no obligations to the well being off the peoples of the world. It is privately owned. That should say enough.

[pcuimac]

But what if they invest the monye abroad?

[NicosMind]

My god! I think Peter Schiff is making big waves thru the economic world! We would never have heard this just 4 years ago except from another Austrian like Marc Faber, Jim Rogers etc.

Now these guys are starting to echo everyone thats been right. 'Bout fucking time i reckon. Now all we have to do is convince people that we havent had a recovery. Then we get them to do the accounting differently and realise spending doesnt equal growth!

[Ebdan88]

The Problem in the first place is that people Suck up to other people who think they are better or bigger or have more money than them.

Its time to have some BackBone and do what is right....You really have to wake up and stop these people....!!!

[Intervene]

Go Peter!!!

[mari0228504]

What is wrong with this interviewer?? your another puppet

[MrInvisible669]

you r in a depression for god's sake....what recovery???

[Man2be23]

@MrInvisible669

Depression or Recession?? lol....I don't think hoping for a depression should be gratifying.

"Tough times never last, but tough people do."

[jarden69]

I really want to leave the country and move to Thailand so I can have 4 or 5 Hot Thai girlfriends......but my wife won't let me. :(

[gooseCha]

you know things are bad when keynesians are agreeing with Pete.............I actually don't like this lol...this is bad

[joechien0218]

the host needs to shut the fuck up and let Peter talk

[yaplonglong]

@joechien0218 - She dosen't want him to speak!

[mari0228504]

@joechien0218 yeah she must high or too much red bull. wtf

[Tnat1on]

A sane report and host on CNBC! Who could have thought?

[Austacker]

Interesting to see Peter on television and NOT getting a beating by the media for once.

Amazing how slow the mainstream are to finally wake up and realise what was in front of their noses all along, eh?

[bjarnet3]

I expand Peter Schiff by saying,, after people have build up their savings, they can consume...

[flyinbry]

Thanks Peter, a bunch of us appreciate your opinions (realities) broadcast on tv.

[leone20012]

Agree?

When the ex regional fed president backed Schiff up that biatch had to tone down her condescending way of speaking to schiff

Plus at the end she spoke about the tea party movement and high taxes showing she had know FULL WELL the problems, but still spoke disrespectfully to schiff

[delatroy]

lol I thought that was peter schiff walking down with ben at 0:39

[decapitatespammers]

Inflation is evil and it is an express goal of the Fed and Administration. Evil.

Deflation is an obsession of academic masturbators. They cry, Japan! Japan! and Hoover! The fact is that deflation self-equalizes. If things become too cheap, demand restores the balance.

This is not rocket science. In fact, it's the first thing these pontificators learned when they studied economics. The VERY FIRST THING. It's called supply and demand.

Instead, they will destroy the innocents. Inflation. Evil.

[LuqmanNaq]

@decapitatespammers The reason why modern economists are so afraid of credit contraction is because they understand that the naure of the monetary system requires a constant expansion to keep the system going. Check out the online documentaries Money as Debt 1 and 2.

[imgdumpprep]

they're not laughing at peter any more...

[mishalkmh]

woho... ex AT fed president agreein with peter??!! times are a changing!!!

[EMPIRE0FLIES]

Its too late to save the economy.  Elitists are basically letting the truth out. Eat drink and be merry for tomorrow we die. Isnt that special.

[BeachRooster]

The first (2:55) is comprised of nothing but lies. Does anyone really believe that the current administration's policies will help the economy?

[62636263c]

Government has a spending problem, not a revinew problem. The fact is, every time they begin a new spending program to for all intents and purposes just to buy votes, they make another entitlement program that is hard to get rid of. For now, I would be happy if they would just hold spending here and begin the process of reducing it later on. I is very hard to reduce spending on a program once you create it. So for now at least just stop creating them, PLEASE!

[tmac9938]

typical media coverage of the economy. but glad peter's gettin more respect.

[alphabeets]

God, can they please cool it with the idiotic sound effects every 10 seconds!!

[joethestrummer]

If they keep saying there's a recovery maybe it will come true...gotta go feed the unicorns.

[louis12346]

green shoots ?

[seemoretube]

God that anchor needs a stiff one up her heiney.

[ForTehNguyen]

only tool that Fed Reserve has is a printing press

[zeusvalentine]

I like the old guy...too bad he isn't with the Fed anymore

[fxlineardynamics]

clearly Bernanke is running on jet fumes............the question is when will masses wake up and boot this flim flam charlatan out of office....I dread what's in store for us......Bernanke and the FED remind me of a poor marksmen that not only have no target....and even if they did, still keep missing it. what a pathetic deluded lying piss poor idiot he really is driving our union down the tubes.

[chriswroads]

Why is that lady not in the kitchen where she belongs?

[WOLF333999]

@chriswroads: I bet she'd radiate everything to mush. This is 2010. Put a robot in the kitchen. The woman can be put to better use. Any ideas?

[notpcone]

@chriswroads AGREED ! She sucks!

[pretorious700]

Peter has been right for years...His dad is in prison for his principles.....and he loses the Ct primary to a clueless airhead bitch who's claim to office is a ton of money made by professional wrestling............you just cannot write a script like that people.

[WOLF333999]

@pretorious700: In fact, if you would write it all down and try to sell it as a work of fiction, people would call the work ludicrous. Maybe it would sell on Mars, but on Earth as we know it? Nah.

[Vexed34]

@pretorious700 Ever see Mike Judge's Idiocracy?

[Paetaor]

@Vexed34 I watched Idiocracy last Sunday.

The Whitehouse could use someone of at least average intelligence to step in.

[BillySmooth55]

Love seeing Peter get a lot more air time than he used to. CNBC? BBC? This is great!

[lights21002003]

*****5stars*****

[crazymotherpro]

Let's make sure we keep all the YouTube vids of the idiot talking heads saying we're fine, so that if we do go deeper into a depression we have 'em by the balls.

[polarbeach]

I was trying to hear what they were saying, but she kept interrupting .... grrr !

[bankai7771]

why does this dumb as bitch talking over these guys!

btw that leather jacket makes her quite hot .

[cooperbry]

I think that Peter Schiff is finally getting some respect in the financial community. This is good to see as he has been harping on these economic issues for some time and has been right.

[dmkwils]

@jaguarclaw jaquarclaw eats douchebags.

[sssshogan]

Hey Jaguarclaw, care to enlighten everyone as to why Schiff is a "grade A douchebag"? Is the government not spending enough for your liking? Maybe Obama should spend a quadrillion dollars instead. Would you prefer that? Or maybe Bernanke should set negative interest rates. That would do wonders for savings, don't you think?

Come on, Jag, dazzle us with your brilliant economic analysis.

[bochap21]

@sssshogan There's no way the Fed can set negative interest rates, 0% is the lowest it can go. Its a hard limit.

[dmkwils]

Trish looks kind of hot in this!!

[Salladsdressing]

@jaguarclaw why?

[Shameonfed]

Bernanke is a load of elite shit, but he is but one load of shit amongst many. While these ass wipes enjoy the fruits of our labor, I take some satisfaction in knowing that they will never ever be truly free. When the collapse finally takes full hold, these jokers will have to have body guards for the rest of their lives and will never really know who they can trust..

[chena3]

printing money

is the only 'tool' left..

you can not borrow your way

out of a debt crisis..

in an over leveraged economy..

not to mention ,

,the fiat backed, fractional reserve popnzi

take care guys ...

[partyhouse88]

host is hot and sassy

[capncrunch93able]

Bernanke is awesome, I heard he spelt his name right on the application for Chairman's job. But that might be a rumor.

[n3rdm4n]

Woah. They put someone that -agreed- with Peter!

[AtlasHBS]

I love seeing these Ponzi economist's saying peter is right, it reminds me of the fact that they don't have a CLUE.

They only agree with peters conclusions, but not the REASON for his conclusions. Keep in mind that these are the same clowns that are "suprised" by these "unexpected" numbers that keep getting reported.

Blind Guides

[GompCelticPL]

@AtlasHBS Yeah and I'm only 18 and I can predict the trends most of the time. Can'y they watch Professor Salerno's lectures? I mean Austrian economy is really easy to understand it's just pure logic. 2+2=4, Keynesian's say 0+0=4 but to hell with them.

[nonaCbarC]

WOW, ex regional fed president agrees with Mr. Schiff.

[DaleElder11]

@nonaCbarC I could not believe it either. He must want to regain his credibility and no longer be on the Fed dole.

[nonaCbarC]

@DaleElder11

I can't even guess why he's doing what he's doing. I was waiting for that guy to say something dumb, & Mr. Schiff pounding the guy. Even Mr. Schiff looks a bit surprised. :D This is like a Twilight Zone episode to me. :D

[asbestosicould]

@nonaCbarC Two things are important to note in Bill Ford's current status- "ex" and "regional". These guys know the score, so does Benji I suppose. It seems that his role is that of being expendable. Benji might be the head of the Fed, but he ain't calling the shots. Ditto wth PresBo. They're just puppets, doing what they're told by the real-big money people. Think CFR.

[Yeuxvert]

@asbestosicould

Totally agree.

[davidpark68]

@nonaCbarC he just don't want to be a poster child for the next "peter schiff was right" video

[pretorious700]

Unbelievable....Bernanke is full of shit

[jmjfanss]

Fuck Ben Bersnakey