Schiff clearly doesn't understand what Norman had been saying. Norman doesn't say you can "print prosperity." What Norman is saying is you can always afford to consume what you can produce, the only real constraint is productivity and real resources. There wasn't discipline on the gold standard, ever hear of a little thing called the Vietnam war?
I can't believe Alan Greyson is a client of Peter Schiff, with the position that Alan Greyson has taken on big government, he doesn't deserve on to keep his wealth from this crisis, he is help causing it
Oh gosh. Alan Grayson can drill the Fed all he wants. The guy believes in big government and big spending. It's that simple. He wants us to spend all this money we don't have. How are we supposed to do this without printing money? The guy has so little integrity. And his little "Taliban Dan" ad was despicable.
Well, what can you say to an individual who did not see people that dropped dead on the side of the streets because of starvation. Third-world-country is an ugly place, but Mike did not have the honor of experiencing.
WOW for a supposed devout free-marketeer he got Say's Law wrong. It's not "Supply creates Demand." More correctly: new goods are created as a means for exchange, thus they codify demand for current goods
Interestingly: Say's Law posits that "general gluts" can't happen. It's originator, Jean-Baptiste Say, long defended his position. However, upon analyzing the Panic of 1825, Say illustrates a general glut of labor, capital assets, etc... perhaps refuting this impossibility
Damn you Schiff, why can't we print money and become richer, you wish to hold us back from all being millionaires you bloody bastard.
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I am glad I had the foresight to purchase $10,000,000,000 dollar notes from Zimbabwe on EBay last week and all my friends now respect me knowing that I am a Trillionaire.
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If only I could use my 10 Trillion dollars to purchase more than a dozen eggs I would be very happy.
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If Norman would look at Zimbabwe and their printing experiment he may learn something.
Funny how Schiff fails to elaborate, even in the slightest, the point about Hoover being an activist. I've taken the liberty of reading the Great Contraction by Milton Friedman, which is a good history of the GD. It turns out, Hoover did not do very much at all. He established the Reconstruction Finance Corporation which did not receive much funding, then cut back public spending. Hardly an activist or an interventionist.
@hoodoo961 one of roosevelts points during his campaign was the spending when hoover was in office. here some quotes from FDR about hoover " the greatest spending administration in peacetime in all of history" and that hoover is "leading the country down the path of socialism". funny how when FDR got in office he just did the same but thats another topic
@CJLopez21 So now we are substituting campaign rhetoric from the 1930s for the economic analysis of Milton Friedman? Sorry if I am disinclined to get my information on a President from what his OPPONENT said about him in a CAMPAIGN. Seriously, think these things through.
@hoodoo961or u can just see that federal spending increased every year under hoover until 1933, the cut in 33 was only 1.3% of the budget. government spending as a percentage of GDP was nearly doubled in 33 from when hoover came into office, actual totals were smaller as the economy shrunk in 1930. deficits as % of GDP rose every year. the NY fed also made a series of rate cuts during the 2 yrs following the crash all the way down to 1.5%. the top income tax rate rose from 25% to 63% in 1932.
@CJLopez21 Has it occurred to you that perhaps the debt/GDP ratio became worse primarily because GDP shrank because of the depression? Remember, ratios can change because of changes in either the numerator OR the denominator. And again, about the Fed, you ought to read the Great Contraction by Milton Friedman. The Fed did not act in concert and did not expand the monetary base enough to make up for the change in currency/deposit ratio.
@hoodoo961 so my quoteing campaign rhetoric wasnt from FDR just making something up out of thin air. there have been many papers from austrian economists debunking this whole notion that Hoover stood by and cut spending. this then made things worse and FDR came and saved the day. the top tax rates went up but went up even more under FDR. so the usual notion of Hoover and FDR approaches are unfounded. hope this is thought out enough for u
Milton Friedman was never a hard money believer! He was always a proponent of FIAT paper controlled by a central bank. That's the essence of his monetary economics beside the social libertarian shell! Given that perspective, he elaborated on the fact it was Roosevelt that saved the day from Hoover's non-interventionism as well as the "barrier" constituted by a GOLD STANDARD! Gold therefore must be DEMONETIZED in order to make it easy for central banks to intervene!
@AFRIKTODAY Right, but the fact that Friedman did not believe in hard money (even if he would have denied that) does not make my point invalid; monetary forces can have a powerful effect on the economy, and a gold standard makes necessary adjustments impossible.
Of which necessary adjustment are you talking about here? Artificial monetary inflation by central banking as advised by Friedman or necessary deflationary forces to deleverage the economy of malinvestments? The problem here is that Friedman wanted the Fed to interfere, but the gold standard prevented that interference. That's why he blamed the Fed! That's also why Roosevelt confiscated the citizen gold and demonetized gold within the US boundaries.
@AFRIKTODAY not true... MF said that IF there should exist a central bank they should inflate money supply at a predictable and constant rate. However, his first and foremost choice would be to abolish the central bank. You can see it in an interview with MF where they exactly pose this question and where he answers like stated above accordingly.
Really? Follow a man's deeds, not his words my friend! Milton Friedman was a Nixon's adviser when Nixon completely annihilated the US gold standard and transformed the US dollar into a total FIAT paper currency! Friedman has always been a progressive at heart despite all appearances! Maybe you should read his book about the great depression where he blames the Fed for not " INFLATING ENOUGH!"!
What we all need to remember about these corporate owned media business shows is, that they would not exist without advertising dollars. If they tell the truth about how bad it is, consumer confidence would get even worse and people would hold on to more of their money. That would equal a net loss for their goods and services and a loss of advertising revenues. I don't like Alan Grayson, his negatives far outweigh his positives, sorry to part with Peter on his opinion of this guy.
I think Norman meant that a country can print as much money as it needs to up to the limit of its natural resources and capital both physical and human. Otherwise it's operating at less than full capacity and allowing its citizens to be impoverished for no reason.
Money had the substance taken out of it when gold backing was taken away. They will just switch to the Amero instead of the Greenback. Admiralty law puts off payment indefinetely. When they took away your ability to pay (by taking gold away from bank notes) they replaced it with something greater. They made everything prepaid. But I'm about as smart as a silver bar. Right Mr. Schiff? Check my 2 vids on silver and commerce
Money had the substance taken out of it when gold backing was taken away. They will just switch to the Amero instead of the Greenback. Admiralty law puts off payment indefinetely. When they took away your ability to pay (by taking gold away from bank notes) they replaced it with something greater. They made everything prepaid. But I'm about as smart as a silver bar. Right Mr. Schiff? Check my 2 vids
I would like to order one Mike Norman counterfeiting machine please. With this ability to put ink on paper, I will single handedly solve all problems.
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it is amazing that you are able to spew such misinformed blather. Are we are really still debating Roosevelts legacy? He was elected 4 times for a reason. What hoover did was raise taxes to cover the losses from the depleted revenues caused by the depression in a vain attempt to keep the deficit down. The idea that spending is the cause of our current situation is the most ignorant explination that i have ever heard. the cause of our current problem was the housing bubble and lack of regulatio
Here is empirical evidence that Hoover was a big spender and FDR did not cure the depression. Just because there was mass hysteria doesn't mean anything. We have mass hysteria with Obama too.
Why did the depression of 1920 only last 18 months when the first year was worse than 1929? Answer that question and you'll be on the right track.
the recession of 1920 was the result of the restructioning of the economy after ww1 (there was a similar recession after ww2) while the great depression was caused by a fundamentally sick economy. A huge bubble in housing and stocks, a few natural disasters, and a hopelessly incompetant republican run goverment all helped to bring us the great depression. The republicans passsed tarrifs in 1930 that worsned an already bad economy and hoover stopped paying pensions for wwi vets.
The current problem was caused by easy money and credit thanks to the Federal Reserve. Fannie and Freddie creating moral hazard with govt guarantees. Government policies like the CRA which pushed banks into loaning when they otherwise would not have.
So, if you break it down big government and too much regulation caused our problem.
To say that greed caused the housing bubble is akin to saying that gravity causes airplanes to crash...
I'm not wasting my time. If you believe that big government is the cure to all ills then that is your right. When this depression lasts 10-12 years because of the same failed policies that prolonged the great depression maybe you'll wake up.
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If you dont believe in Keynesian then at least listen to Morgan Freeman But the guy you have in that video is just a neoconservative blow hard and knows nothing about economics.
Morgan Freeman? Nice job. Anyway, Hoover actually INCREASED government spending by a huge amount, FDR happened to do so by a titanic amount. But back to recent history... it is a certainty the Fed's low interest rate policies and deranged encouragement of the excessive credit creation that resulted in the earlier part of this decade contributed heavily to the crisis. That, and the artificial demand for subprime promoted by Fannie/Freddie, ineffective government-sanctioned rating agencies...
(cont'd) ...securitization and the resultant moral hazard. However, the fundamental problem was tremendous overleverage in the private sector. When annual credit growth far outstrips the growth in GDP for an extended period it should rapidly become clear to any rational policymaker that this is an unsustainable expansion. The Fed, of course, did not make this observation. As an organ of the federal government, it can rightfully be considered the chief architect of the collapse.
The main goal of Greenspan's choice to keep interest rates so low was to ensure a 2004 victory for G.W. Bush that way we could keep these great neoconservative wars going on. Had clinton still been in office he would have kept them down where they should have been.
finally hoover raised taxes to balance the budget in a time of deflation. This only caused defalation to increase thus worsening the depression.
As far as the current situation... the government didnt force anyone to give out bad loans. When companies gave out bad loans they did that because they did not properly guage the housing market. The derivatives based on those bad loans brought wall street to its knees. Some government basd incentives were taken advantage of but that was not the cause.
By the government backing all high risk loans what did you expect the banks to do? If you ran a bank and didnt have to worry about the losses of lending to a high risk person you would lend to anyone since the government picks up the ones that go bad. Its just like college tuition its so high right now because of all the government guaranteed loans why lower prices when the government will pay whatever. What do you think healthcare is going to be like?No more government intervention both parties
You are very misinformed person. I am looking really hard for one thing that is correct in what you wrote. I cant find anything that is correct.
You obviously have not gotten a federal college loan or you would know that those rates can not be whatever they like. Those loans have strict rules for both the borrower and the company giving the loan. College tuition is so high because of overspending on things unneeded by universities. Such as gardening and football stadiums.
If so many students didnt have to go to "cool" schools and instead shopped around and went to community colleges their first 2 years they would pay substantially less. I will tell you that i paid more for my highschool tuition(to a catholic highschool) then for my college tuition (with my first 2 years at a community college and my last 2 years at a state college). That is being smart with your money.
Next the government did not back and the banks had no insurances that they would be
not be held accountable for their high risks loans. That is why lehman bro went under. The banks believed that the prices of houses would continue to go up and that is why they continued to invest in housing. The bubble and bad investment choices by private companies was the root cause of the collapse. My company uses Wachovia to pay their payroll. Wachovia's purchase was part of the government aide in attempting to fix the current situation. If Wachovia had not been paid off, i most likely
would have had not been paid for several weeks while company searched for another bank. Make no mistake, if the banks had not been bailed out there would have been a depersssion. There would have been runs on the bank. They only way to prevent this from happening again is to reinstate the regulations that had prevented these sorts of things from happening but was revoked in 1999, The Glass Steagall Act, as part of the republican led fad of deregulation.
That book is AWESOME. i lost so much money! I have soooo much debt! My favorite chapter is "how to use credit cards to buy things you don't need". Brilliant man and a brilliant read!
Peter obviously didn't read this book or he'd understand why his reasons for being right were wrong.
I think it's funny that a lot of people think that if you listen to left wing propaganda media and also right wing propaganda media that you somehow can get to the truth by combining them.
As if you can listen to 2 compulsive liars you can somehow deduce the truth.
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This is misleading and taking other views way out of context. This is a political add. India and China are emerging markets and to intimate their respective govts have no hand in their free markets is lauphable. Does anyone here remember what happened during the last administration or even why the last party to occupy the white house was thrown out? The reason this is not lauphable is because the U.S. has to recover from the last administration. Yes , tough medicine is in order to recover.
Yeah, tough medicine. Which would involve stopping the federal reserve policies that set this whole mess in motion. But it's not going to happen because the politicians are too busy trying to secure their re-election to actually take the measures necessary for an actual recovery.
if printing money were an economic solution, then it would be wise to employ every US citizen minting new bills.
what schiff knows, and this guy norman clearly fails to understand, is that printing bills doesn't create wealth. wealth is the stuff you can buy with the bills. without creation of real material wealth bills are worthless.
o Israel has killed Americans (eg. Sailors on USS Liberty, Rachel Corrie, etc...)
o Israel spies on this country (eg. Pollard, Kadish, AIPAC, etc...)
o Israel bought our politicians with our taxes.
o Israel steals our taxes, hence their higher income.
o Israel uses our country as their toilet.
Want more? Checkout my playlist.
Please share this post with others, and demand that your Senator and/or Representative uphold the laws when it comes to Israel's heinous crimes. Peace!
FOR EVERYONE who FOLLOWS JIM ROGERS, PETER SCHIFF, MARC FABER and RON PAUL... I just always go to financialtruth0.blogspot . com because they post all the latest videos there! Thanks for uploading this vid anyway!!!
The short sales are HOT this week on SIRI Sirius XM Radio Inc. has two principal wholly owned subsidiaries, XM Satellite Radio Holdings Inc. and Satellite CD Radio Inc.
I thought short selling a stock drove the price down? Lots of people are doing it! It must be profitable! SIRI
agreed. The question I keep coming up with is do they realize the BS they are pushing or are they deluded into thinking Keynesian economics is best? (possibly a third option?). From the IOUSA movie and david walker videos, the politicians all know we are headed toward a big collapse.
Hi Peter I look forward to your views, over here in Australia. I keep up with whats going on in the US from Bloomberg,CNN but you tell it like it is. All our Govt does is copy you guy's in the US.
Peter has a lot of good insight but he is totally myopic about one major variable, Islam. He ignores it, completely. Take his analysis of India, for example. India has the bad luck to have Pakistan and Bangledesh as neighbors, both of which has declared they will re-islamize India. The costs of holding off this terrorism, with 30% of the population muslim, will be a huge drag on india. Look at the progress of Sharia into the Western world. Peter has no grasp of the implications of any of this.
I don't disagree that fundamentalism is bad for lot's of things but....
he doesn't talk about Islam just like he doesn't talk about christian fundamentalism in the US, catholic priests molesting children; it's not the subject. Your claims that he's myopic about that subject is baseless.
Priest molesting children or Mullahs marrying children, this has nothing to do with my point. Catholics have no doctrine that economics should be based on their holy book . The comparison is ridiculous.
The cost of defending our economy against terror and jihad, the inroads of sharia law into Western jurisprudence, like we see in England and Denmark, these things are absolutely huge threats to the economy. Do some research into Obamas terms for Sharia finance in the AIG bailout, for example
Your claims that he's myopic about that subject is baseless
This matter of ignoring those who try to destroy our financial system as part of their quest to impose their religion is not baseless; 1,050 years of history and the words of those attacking us themselves prove my point. Multiculturalists, those who hate democracy and the West, those in denial, these people are apologists or deniers, but Peter has a brain and studies history, he should not miss this piece of the puzzle entirely.
Muslims aren't destroying our financial system, we are doing it ourselves. The Fed, the US government, and the people who believe the talking heads in the MSM without doing any research are to blame. You sound like the brainless conspiracy theorists that blame 9/11 on little bush and not the terrorists who actually did it.
That's right. The muslims and everyone else will use our irrresponsibility to take as much of our stuff as possible, naturally. A fool and his money (and property) are soon parted.
This is true of the US. The US filled with lazy losers who will soon be parted from their wealth.
Financial Jihad is not a conspiracy. The Economic Crisis: Al-Qaeda's Response," Richard Barrett, Policy Watch. Dr. Rachel Ehrenfeld Human Events "Why are Western financial officials playing into bin Ladens hands?" Lt. Col. Jonathan D. Halevi in IMRA, "What Drives Saudi Arabia Terrorist Financing?" Frank Gaffney Center for Security Policy StopShariah. Hillary Clinton's Conflict financial jihad , Dick Morris FoxNews. Google FINANCIAL JIHAD or website w^3 d ot terrorfinance do t org
We know who did 9/11. Islamists. We know who did Entebe. islamists. We know who did Khaibar in the year 629. Islamists. What you dont know is that Jihad is not limited to physical war but also to raising money and destabilizing the economy of non muslim states. I have studied Islam for six years and believe me it is a much bigger threat than Geitner or inflation. Get focused on the whole picture.
is child molestation fundamentalal to catholicism? No. Is destabilizing and overthrowing non muslim states and their economies fundamental in Islam? Yes. Does Peter Schiff cover economics? Yes. Therefore he should at least understand something about the role of Islam in the economic crisis because it does play a role we are not being told about in mainstream press
your hatred and fear of muslims have seriously twisted your outlook. Listen to Peter; the Fed, and our borrow and spend politicians have caused our economic problems.
If you want to know why (mostly) mulsim terrorists attacked america listen to ron paul; we buggered with them first and have military bases on their lands. We'd be pissed if they did the same to us. try not to be a true believer and look at the facts.
I have no hatred for Muslims but unlike you I recognize the danger of Islamic theology to our economic. The first attack on US by jihad was to merchant marine and our navy did not yet exist. Look into the marine anthem, to the shores of Tripoli and Thomas Jeffersons report to congress about what the jihadists told him when he asked why they attacked americans. Your self blame and white guilt is typical of decades of brainwashing of multiculturalsim. Good luck to you in waking up.
If you have to go back 200 years for a random quote, you are seriously deluded. You keep ignoring the obvious reasons our economy is crap (see peter schiff) and blame those not responsible. You aren't much different than the wankers who think it's "evil capitalism" at fault. The first step to recovery is you admitting your mindless hatred and fear of muslims. did a muslim break your heart? is that why? lol.
First you say muslims hate us because we are in their lands. I go back 200 years to show you they hated us before we were in their lands. Then you say I have to go back 200 years to find an example. You are obviously a moron and its pointless to try to educate you with facts because you dont respond to facts only emotion and bias.
Actually I wrote that it's one of the primary reasons the CURRENTLY hate us (engrish you second language?). their are plenty of Ron Paul videos out there explaining it for the ignorant like you. You keep avoiding the whole point (ADD? IQ=67?, angry his muslim boyfriend left?); our economic problems aren't caused by muslims. your hatred of muslims won't change that fact.
Talk about moving in the opposite direction, consider Nana Motors of India is producing a car (Nano) which only cost about $2,500! What is Obama and his cronies doing? More tax hikes for lower emissions! Expected added cost for future cars, $1,300 more! India has a car for $2,500 dollars and we have $1,300 being added to a $25,000 vehicle that I don't have the money saved for and can't afford already. Now if Nano priced cars were available in America I could afford one at that price!
You've got it right. I guess Obama woke up this morning, and decided this new folly of his will somehow help. People do not have 2 dimes to rub together, and he thinks people will buy this car. Hey Mc Fly, we're in a depression and making things like transportation and food more expensive will put America over the edge!! Did you notice the first guy he introduced at the "historic" car event was the head of the UAW? India has its sacred cows, and Obama has his......
The currency crisis is coming shortly and hyperinflation will happen so fast Americans won't have time to prepare. Tell everybody you know to read the articles and signup for the free newsletter at: Inflation . us
No manufacturing = no recovery for America. American politicians killed the middle class with NAFTA and uncontrolled illegal immigration. Americans are headed to third world status......fewer jobs at less pay and a destroyed currency. Hang on..its going to get worse before it gets worse.
Inflation is THEFT, it is the LOOTING of an entire nation, it is just to bad that people are not informed enough to understand it, and how the scam works.
The Market is not a Law of Nature, it's not like gravity. It is a man-made phenomena that we need to treat like a piece of complex software that needs to have bugs fixed and be upgraded periodically. There is no magic, faith is important (ex: perceived value) but we need to be able to adjust it and Gov't is the only way we can do it in a rational (I know..) way. That's why the religious right like Reps, they too have faith beyond reason
But how do you know these so-called bugs are not merely products of government intervention, and how do you know fixing these bugs will not create new bugs?
The market does not work out problems instantly, but with time even huge problems like the ones we are experiencing now will be rectified.
There is no magical fix to this problem, we need to go through a painful recession so assets can be reallocated correctly, something the government CANNOT do.
There is no way to know where the bugs are coming from. But as someone who is not very active in the market, I am now paying taxes that go towards bailing out AIG et al. Obviously, the people I trusted to tend The Market were incompetent and/or criminal. Now I want my elected officials involved in the process of spending my $. I don't like welfare queens of any tax bracket and want my Representatives to keep them as straight as possible.
We are only paying taxes toward bailing out AIG because the government decided to bail out AIG. That doesn't mean it was the smartest thing to do in the long run.
The dollar has lost 3% of its value in the last year and salaries are flat while unemployment is steadily rising? These facts would matter to you if you didn't have a job or you needed to stretch your dollars to survive.
you do seem stupid enough not to check that dollar has fallen for about two weeks straight, that amounts to almost 10% in the last month. also the one day drop is an implication of how many short-term holders there are in the dollar currency market as every time there is a sign of a dollar drop, people flood away from it, and of course again you have to have a little trading experience of your own to know it's a rather big % by comparison mr. inactive in market that thinks he's not stupid.
either way don't bother replying unless you think you have market knowledge i do not yet possess and there's something you can actually enlighten me on, because so far this seems pretty one-way and i'm not a fan of taking my time to give free financial lessons. peace and have a nice day.
I agree with Mr. Schiff on the decoupling theory, but I wouldn't touch China, Korea, India or Russia with a ten foot pole right now. Their markets are up as a result of perceived GLOBAL improvement in the economy. For th time being, we are all 'coupled'. My view is that decoupling will occur AFTER a total collapse of global equity markets. The supply/demand dependencies will take time to unwind and a total collapse is what will be necessary for this to happen. mac @ shtfplan . com
MacSlavo, we will not be blessed with a total collapse. And, most likely, there will not be a total "decoupling". There will be re-arrangement -- the US will have a much lower standing of living while other nations (including China, India...etc) will raise their living standards. At least for a while, I think, other nations will not be "stimulating" their economies, by spending, as some people might expect. They may have learned that over spending isn't good and, as a consequence, under spend.
I am compiling some playlists of the highest quality (accurate information) clips I found concerning the Great Conspiracy everybody is talking about. Those who are interested can have a look at my page. It contains 3 playlists (250+ vids) with archeological information and historical data as well as some interviews with ex-illuminati and ex-masons. It's best to start with the first playlist.
Remember that some of the clips contain sneaky misdirections concealed within the truth.
There's still a lot of information about human history and the nature of mankind that has been hidden from the masses for thousands of years by secret societies that control the banking system (Rothschilds, Fed, etc.).
But it's all coming out now, just as predicted long ago.
Re-investigate your history and find out what's been hidden from you.
Love your work Peter. The FEDs printing press is stealing wealth from us - the working people. The goverment is stealing our purchasing power - they should be charged with stealing.
When I saw Rep. Alan Grayson grilling those from the I.G. asking where did the money go, I thought, this is great.
But then I saw the video where he advocates salary caps on business that got TARP money, and I can see he really doesn't get it. Not if he doesn't realize they shouldn't have gotten the money in the first place.
Just another Barney Frank trying to deflect the anger we all feel away from himself, and onto some faceless VP. at AIG, etc.
It is only a matter of time before the U.S. dollar becomes worthless and Americans who aren't prepared will soon be broke. Read the articles and signup for the free newsletter at: Inflation . us
Peter, you've got to get a Youtube partner account. That would allow you to upload more than 10 minutes videos. As things progresses, it's pretty clear you'll have much more to say, and many here will greatly benefit learning about it!
As you know, you aren't invited because you aren't good for "business".
After hearing your speak, someone might refrain from buying and, instead, save.
A lot of businesses are dependent on the status quo, and anyone who threatens that is not be welcome.
They will do whatever it takes to keep their unproductive jobs/businesses going, including propagating all kinds of vile behavior through movies and shows...yes, bad behavior, whether overspending or something else, is good for "business".
there's money to be made in revolutions and that looks like where we are headed.
What the Socialist Elite Bankers on Wall Street are doing is taking the money and buying gold. The People will be broke and these Corporate Bankers will have all the gold.
Hyperinflation is already starting right now and if you don't get ready you will go broke. Read the articles and signup for the free newsletter at: Inflation . us
For that to happen, the politicians have to step out of the way and stop interfering in the economy with ridiculous laws, taxes and subsidies.
And don't forget that Manmohan Singh, the new prime minister, was instrumental in impoverishing most of the savers in India during th eearly 1990s by devaluing the Indian currency to "gain a competitive edge in exports".
With Keynesian ideas like that, India ain't getting out of the gutter. Sure it's a bit better than communism, but it's not free market
Why does anyone else need to be scared? More productivity from India will be great for Indians, but it should be great for the whole world. Same for China.
If you like this grayson guy I suggest you watch this video
watch?v=ITq19ezj_Xg
He wants to regulate the salary of all employees of companies that get bailout money, including secretaries and personal assistants but he won't define a range or define "excessive", not even with a range.
He may have been requested to keep the meeting private. Which would preclude him from even saying anything like why he is not commenting. Just consider it a good sign that maybe someone is listening.
I don't want to see the world do bad but its hard to fathm a decoupling. Canada does a whole lot to service the US economy with oil, crops, tourism. It seems like places changing their production to not service the US will be just as laggy as the US switching to producing as opposed to consumption.
if u want to be succesful in your investments, listen to Mike Norman and do the exact opposite
adipredescu1990 4 months ago 2
Schiff clearly doesn't understand what Norman had been saying. Norman doesn't say you can "print prosperity." What Norman is saying is you can always afford to consume what you can produce, the only real constraint is productivity and real resources. There wasn't discipline on the gold standard, ever hear of a little thing called the Vietnam war?
hrmIwonder 4 months ago
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The only thing preveting the government from feeding the whole country is people like Peter Schiff.
SchiftReport 6 months ago
clearly, Mike Norman is an agent of disinformation. Now, not so euphemistically putting it, he's the ultimate douchebag!
flipdabird02 10 months ago 6
is norman the author of "the schitt report"?
stoneecold23 1 year ago 11
@stoneecold23 yup, norman is the cunt that has made atleast 5 youtube channel dedicated to attacking peter.
stealthpakfa 9 months ago 2
I can't believe Alan Greyson is a client of Peter Schiff, with the position that Alan Greyson has taken on big government, he doesn't deserve on to keep his wealth from this crisis, he is help causing it
manfries 1 year ago
Oh gosh. Alan Grayson can drill the Fed all he wants. The guy believes in big government and big spending. It's that simple. He wants us to spend all this money we don't have. How are we supposed to do this without printing money? The guy has so little integrity. And his little "Taliban Dan" ad was despicable.
I'm so glad Grayson is gone.
ebeatworld 1 year ago 2
Well, what can you say to an individual who did not see people that dropped dead on the side of the streets because of starvation. Third-world-country is an ugly place, but Mike did not have the honor of experiencing.
dayadayadaya123 1 year ago
WOW for a supposed devout free-marketeer he got Say's Law wrong. It's not "Supply creates Demand." More correctly: new goods are created as a means for exchange, thus they codify demand for current goods
Interestingly: Say's Law posits that "general gluts" can't happen. It's originator, Jean-Baptiste Say, long defended his position. However, upon analyzing the Panic of 1825, Say illustrates a general glut of labor, capital assets, etc... perhaps refuting this impossibility
Citation on Request
getnbusy2nite 1 year ago
Mike Norman can't grapple the concept of grilled cheese
fasteddie847 1 year ago 2
Damn you Schiff, why can't we print money and become richer, you wish to hold us back from all being millionaires you bloody bastard.
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I am glad I had the foresight to purchase $10,000,000,000 dollar notes from Zimbabwe on EBay last week and all my friends now respect me knowing that I am a Trillionaire.
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If only I could use my 10 Trillion dollars to purchase more than a dozen eggs I would be very happy.
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If Norman would look at Zimbabwe and their printing experiment he may learn something.
MACKATTACK1970 1 year ago 3
Norman should move to Zimbabwe if he wants a first hand look at printing press prosperity.
bonfirejovi 1 year ago
0:24-0:32 Ha!
randyguitarman13 1 year ago
Schiff you shitted all over them with the Truth. Fuck Blinder & Norman..bunch of dirty leeches!
kuza01 1 year ago
Funny how Schiff fails to elaborate, even in the slightest, the point about Hoover being an activist. I've taken the liberty of reading the Great Contraction by Milton Friedman, which is a good history of the GD. It turns out, Hoover did not do very much at all. He established the Reconstruction Finance Corporation which did not receive much funding, then cut back public spending. Hardly an activist or an interventionist.
hoodoo961 1 year ago
@hoodoo961 one of roosevelts points during his campaign was the spending when hoover was in office. here some quotes from FDR about hoover " the greatest spending administration in peacetime in all of history" and that hoover is "leading the country down the path of socialism". funny how when FDR got in office he just did the same but thats another topic
CJLopez21 1 year ago
@CJLopez21 So now we are substituting campaign rhetoric from the 1930s for the economic analysis of Milton Friedman? Sorry if I am disinclined to get my information on a President from what his OPPONENT said about him in a CAMPAIGN. Seriously, think these things through.
hoodoo961 1 year ago
@hoodoo961or u can just see that federal spending increased every year under hoover until 1933, the cut in 33 was only 1.3% of the budget. government spending as a percentage of GDP was nearly doubled in 33 from when hoover came into office, actual totals were smaller as the economy shrunk in 1930. deficits as % of GDP rose every year. the NY fed also made a series of rate cuts during the 2 yrs following the crash all the way down to 1.5%. the top income tax rate rose from 25% to 63% in 1932.
CJLopez21 1 year ago
@CJLopez21 Has it occurred to you that perhaps the debt/GDP ratio became worse primarily because GDP shrank because of the depression? Remember, ratios can change because of changes in either the numerator OR the denominator. And again, about the Fed, you ought to read the Great Contraction by Milton Friedman. The Fed did not act in concert and did not expand the monetary base enough to make up for the change in currency/deposit ratio.
hoodoo961 1 year ago
@hoodoo961 Thanks for bringing in some alternative perspective...glad someone here exposes themselves to broader education.
getnbusy2nite 1 year ago
@hoodoo961 so my quoteing campaign rhetoric wasnt from FDR just making something up out of thin air. there have been many papers from austrian economists debunking this whole notion that Hoover stood by and cut spending. this then made things worse and FDR came and saved the day. the top tax rates went up but went up even more under FDR. so the usual notion of Hoover and FDR approaches are unfounded. hope this is thought out enough for u
CJLopez21 1 year ago
@hoodoo961 Compared to his predecessor he did a huge amount, unfortunately he didn't listen to his treasury secretary.
For a detailed look at just how interventionist he was, look at:
h ttp://mises.org/rothbard/agd/chapter11.asp
bonfirejovi 1 year ago
@hoodoo961
Milton Friedman was never a hard money believer! He was always a proponent of FIAT paper controlled by a central bank. That's the essence of his monetary economics beside the social libertarian shell! Given that perspective, he elaborated on the fact it was Roosevelt that saved the day from Hoover's non-interventionism as well as the "barrier" constituted by a GOLD STANDARD! Gold therefore must be DEMONETIZED in order to make it easy for central banks to intervene!
AFRIKTODAY 1 year ago
@AFRIKTODAY Right, but the fact that Friedman did not believe in hard money (even if he would have denied that) does not make my point invalid; monetary forces can have a powerful effect on the economy, and a gold standard makes necessary adjustments impossible.
hoodoo961 1 year ago
@hoodoo961
Of which necessary adjustment are you talking about here? Artificial monetary inflation by central banking as advised by Friedman or necessary deflationary forces to deleverage the economy of malinvestments? The problem here is that Friedman wanted the Fed to interfere, but the gold standard prevented that interference. That's why he blamed the Fed! That's also why Roosevelt confiscated the citizen gold and demonetized gold within the US boundaries.
AFRIKTODAY 1 year ago
@AFRIKTODAY not true... MF said that IF there should exist a central bank they should inflate money supply at a predictable and constant rate. However, his first and foremost choice would be to abolish the central bank. You can see it in an interview with MF where they exactly pose this question and where he answers like stated above accordingly.
Ghebru100 1 year ago
@Ghebru100
Really? Follow a man's deeds, not his words my friend! Milton Friedman was a Nixon's adviser when Nixon completely annihilated the US gold standard and transformed the US dollar into a total FIAT paper currency! Friedman has always been a progressive at heart despite all appearances! Maybe you should read his book about the great depression where he blames the Fed for not " INFLATING ENOUGH!"!
AFRIKTODAY 1 year ago
mike sucks
bobby4500 1 year ago
"Print prosperity into existence" -the solution to the error of measuring the economy by consumption instead of production.
AisAbsolute 1 year ago 2
LOOOOL laughed so hard at the mike norman part
CortoMaltese86 1 year ago 4
What we all need to remember about these corporate owned media business shows is, that they would not exist without advertising dollars. If they tell the truth about how bad it is, consumer confidence would get even worse and people would hold on to more of their money. That would equal a net loss for their goods and services and a loss of advertising revenues. I don't like Alan Grayson, his negatives far outweigh his positives, sorry to part with Peter on his opinion of this guy.
bertly71 1 year ago
I think Norman meant that a country can print as much money as it needs to up to the limit of its natural resources and capital both physical and human. Otherwise it's operating at less than full capacity and allowing its citizens to be impoverished for no reason.
brothermikefan 1 year ago
The talk under the bridge is that Norman Bates just got a job as a teeth bleaching test subject......
Bless his little heart......
Master Peter for Pres!!!!
DeathOfTheDollar2010 2 years ago
This has been flagged as spam show
Norman is an idiot!!!
I will put my money (gold) on Peter!
In five years Norman will be broke on the streets living under a bridge, and begging Peter to throw him a bone......
Spit on his bad hair plugs Peter, and keep walking!
Pete for Pres!!!!!
LOVE YOU PETER!!!!
DeathOfTheDollar2010 2 years ago
Money had the substance taken out of it when gold backing was taken away. They will just switch to the Amero instead of the Greenback. Admiralty law puts off payment indefinetely. When they took away your ability to pay (by taking gold away from bank notes) they replaced it with something greater. They made everything prepaid. But I'm about as smart as a silver bar. Right Mr. Schiff? Check my 2 vids on silver and commerce
julianmck 2 years ago
Money had the substance taken out of it when gold backing was taken away. They will just switch to the Amero instead of the Greenback. Admiralty law puts off payment indefinetely. When they took away your ability to pay (by taking gold away from bank notes) they replaced it with something greater. They made everything prepaid. But I'm about as smart as a silver bar. Right Mr. Schiff? Check my 2 vids
julianmck 2 years ago
I would like to order one Mike Norman counterfeiting machine please. With this ability to put ink on paper, I will single handedly solve all problems.
roopsingh1394 2 years ago
Mike Norman forgot to give me my fries at Mcdonald's yesterday. Can't he do anything right?
johnnyu3 2 years ago 65
@johnnyu3
he broke my eggs at Whole Foods.
Damn you Norman Bates!!!!
Master Peter for Pres!!!!
DeathOfTheDollar2010 2 years ago
lol
imaginator 1 year ago
@johnnyu3 auch !
bjarnet3 1 year ago
@johnnyu3 hilarious!
Riddlerx333x 1 year ago
This comment has received too many negative votes show
it is amazing that you are able to spew such misinformed blather. Are we are really still debating Roosevelts legacy? He was elected 4 times for a reason. What hoover did was raise taxes to cover the losses from the depleted revenues caused by the depression in a vain attempt to keep the deficit down. The idea that spending is the cause of our current situation is the most ignorant explination that i have ever heard. the cause of our current problem was the housing bubble and lack of regulatio
leftbehind81 2 years ago
youtube. com/ watch?v=VoxDyC7y7PM
Here is empirical evidence that Hoover was a big spender and FDR did not cure the depression. Just because there was mass hysteria doesn't mean anything. We have mass hysteria with Obama too.
Why did the depression of 1920 only last 18 months when the first year was worse than 1929? Answer that question and you'll be on the right track.
viehe69 2 years ago 2
the recession of 1920 was the result of the restructioning of the economy after ww1 (there was a similar recession after ww2) while the great depression was caused by a fundamentally sick economy. A huge bubble in housing and stocks, a few natural disasters, and a hopelessly incompetant republican run goverment all helped to bring us the great depression. The republicans passsed tarrifs in 1930 that worsned an already bad economy and hoover stopped paying pensions for wwi vets.
leftbehind81 2 years ago
...and
The current problem was caused by easy money and credit thanks to the Federal Reserve. Fannie and Freddie creating moral hazard with govt guarantees. Government policies like the CRA which pushed banks into loaning when they otherwise would not have.
So, if you break it down big government and too much regulation caused our problem.
To say that greed caused the housing bubble is akin to saying that gravity causes airplanes to crash...
viehe69 2 years ago 3
I'm not wasting my time. If you believe that big government is the cure to all ills then that is your right. When this depression lasts 10-12 years because of the same failed policies that prolonged the great depression maybe you'll wake up.
viehe69 2 years ago 3
This comment has received too many negative votes show
If you dont believe in Keynesian then at least listen to Morgan Freeman But the guy you have in that video is just a neoconservative blow hard and knows nothing about economics.
leftbehind81 2 years ago
Morgan Freeman? Nice job. Anyway, Hoover actually INCREASED government spending by a huge amount, FDR happened to do so by a titanic amount. But back to recent history... it is a certainty the Fed's low interest rate policies and deranged encouragement of the excessive credit creation that resulted in the earlier part of this decade contributed heavily to the crisis. That, and the artificial demand for subprime promoted by Fannie/Freddie, ineffective government-sanctioned rating agencies...
esoteric111 2 years ago 2
(cont'd) ...securitization and the resultant moral hazard. However, the fundamental problem was tremendous overleverage in the private sector. When annual credit growth far outstrips the growth in GDP for an extended period it should rapidly become clear to any rational policymaker that this is an unsustainable expansion. The Fed, of course, did not make this observation. As an organ of the federal government, it can rightfully be considered the chief architect of the collapse.
esoteric111 2 years ago
The main goal of Greenspan's choice to keep interest rates so low was to ensure a 2004 victory for G.W. Bush that way we could keep these great neoconservative wars going on. Had clinton still been in office he would have kept them down where they should have been.
leftbehind81 2 years ago
finally hoover raised taxes to balance the budget in a time of deflation. This only caused defalation to increase thus worsening the depression.
As far as the current situation... the government didnt force anyone to give out bad loans. When companies gave out bad loans they did that because they did not properly guage the housing market. The derivatives based on those bad loans brought wall street to its knees. Some government basd incentives were taken advantage of but that was not the cause.
leftbehind81 2 years ago
By the government backing all high risk loans what did you expect the banks to do? If you ran a bank and didnt have to worry about the losses of lending to a high risk person you would lend to anyone since the government picks up the ones that go bad. Its just like college tuition its so high right now because of all the government guaranteed loans why lower prices when the government will pay whatever. What do you think healthcare is going to be like?No more government intervention both parties
raab28 2 years ago
You are very misinformed person. I am looking really hard for one thing that is correct in what you wrote. I cant find anything that is correct.
You obviously have not gotten a federal college loan or you would know that those rates can not be whatever they like. Those loans have strict rules for both the borrower and the company giving the loan. College tuition is so high because of overspending on things unneeded by universities. Such as gardening and football stadiums.
leftbehind81 2 years ago
If so many students didnt have to go to "cool" schools and instead shopped around and went to community colleges their first 2 years they would pay substantially less. I will tell you that i paid more for my highschool tuition(to a catholic highschool) then for my college tuition (with my first 2 years at a community college and my last 2 years at a state college). That is being smart with your money.
Next the government did not back and the banks had no insurances that they would be
leftbehind81 2 years ago
not be held accountable for their high risks loans. That is why lehman bro went under. The banks believed that the prices of houses would continue to go up and that is why they continued to invest in housing. The bubble and bad investment choices by private companies was the root cause of the collapse. My company uses Wachovia to pay their payroll. Wachovia's purchase was part of the government aide in attempting to fix the current situation. If Wachovia had not been paid off, i most likely
leftbehind81 2 years ago
would have had not been paid for several weeks while company searched for another bank. Make no mistake, if the banks had not been bailed out there would have been a depersssion. There would have been runs on the bank. They only way to prevent this from happening again is to reinstate the regulations that had prevented these sorts of things from happening but was revoked in 1999, The Glass Steagall Act, as part of the republican led fad of deregulation.
leftbehind81 2 years ago
Mike Norman has lost his mind and gone off the deep end.
I read his book called "How to lose money and make a fool out of yourself". Great read.
tommycali123 2 years ago 3
That book is AWESOME. i lost so much money! I have soooo much debt! My favorite chapter is "how to use credit cards to buy things you don't need". Brilliant man and a brilliant read!
Peter obviously didn't read this book or he'd understand why his reasons for being right were wrong.
TheMetalPerson 2 years ago
Mike Norman is an idiot.
nonantianarchist 2 years ago 54
Fox News-balancing the economic illiterate liberal media with the economic illiterate rightwing populist media.
nonantianarchist 2 years ago 4
I think it's funny that a lot of people think that if you listen to left wing propaganda media and also right wing propaganda media that you somehow can get to the truth by combining them.
As if you can listen to 2 compulsive liars you can somehow deduce the truth.
fuzzywzhe 2 years ago 3
You would have more credibility if you learned to spell laughable.
thruid3 2 years ago
This comment has received too many negative votes show
This is misleading and taking other views way out of context. This is a political add. India and China are emerging markets and to intimate their respective govts have no hand in their free markets is lauphable. Does anyone here remember what happened during the last administration or even why the last party to occupy the white house was thrown out? The reason this is not lauphable is because the U.S. has to recover from the last administration. Yes , tough medicine is in order to recover.
billoakesattablthree 2 years ago
Yeah, tough medicine. Which would involve stopping the federal reserve policies that set this whole mess in motion. But it's not going to happen because the politicians are too busy trying to secure their re-election to actually take the measures necessary for an actual recovery.
nonantianarchist 2 years ago
Come on... don't be too naive. These guys are smart and actually know what really going on.
They are spoke people to the big world bankers. They got paid to talk these way so the public will buy into what the bankers selling them.
superchink28 2 years ago 2
No one spend any space cash yet!
Horoist 2 years ago
if printing money were an economic solution, then it would be wise to employ every US citizen minting new bills.
what schiff knows, and this guy norman clearly fails to understand, is that printing bills doesn't create wealth. wealth is the stuff you can buy with the bills. without creation of real material wealth bills are worthless.
jdepps13 2 years ago 6
"If printing money were an economic solution, then it would be wise to employ every US citizen [into] minting new bills"
Ha ha! Well said. Given Bernanke's disposition that may well come to pass!
Wcoltd 2 years ago 3
This has been flagged as spam show
o Israel has killed Americans (eg. Sailors on USS Liberty, Rachel Corrie, etc...)
o Israel spies on this country (eg. Pollard, Kadish, AIPAC, etc...)
o Israel bought our politicians with our taxes.
o Israel steals our taxes, hence their higher income.
o Israel uses our country as their toilet.
Want more? Checkout my playlist.
Please share this post with others, and demand that your Senator and/or Representative uphold the laws when it comes to Israel's heinous crimes. Peace!
HateAllNazis 2 years ago
FOR EVERYONE who FOLLOWS JIM ROGERS, PETER SCHIFF, MARC FABER and RON PAUL... I just always go to financialtruth0.blogspot . com because they post all the latest videos there! Thanks for uploading this vid anyway!!!
Justbeatit999 2 years ago
I'm going to invest more with Mr, Schiff. The dollar is doomed.
ronheri 2 years ago 2
We're through.
watch?v=mQnUFaYHvBc
drewd1987 2 years ago
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Jfkennedy62 2 years ago
This has been flagged as spam show
Should you be short selling stocks?
The short sales are HOT this week on SIRI Sirius XM Radio Inc. has two principal wholly owned subsidiaries, XM Satellite Radio Holdings Inc. and Satellite CD Radio Inc.
I thought short selling a stock drove the price down? Lots of people are doing it! It must be profitable! SIRI
Jfkennedy62 2 years ago
Lay it down Peter. Glad someone is.
I'm just shocked that there are so many smart people following so much stupidity out there.
heymisterderp 2 years ago
agreed. The question I keep coming up with is do they realize the BS they are pushing or are they deluded into thinking Keynesian economics is best? (possibly a third option?). From the IOUSA movie and david walker videos, the politicians all know we are headed toward a big collapse.
rationalCrash 2 years ago
Thanks!
greychops 2 years ago
Hi Peter I look forward to your views, over here in Australia. I keep up with whats going on in the US from Bloomberg,CNN but you tell it like it is. All our Govt does is copy you guy's in the US.
lovestiles 2 years ago
i love the editing
warpicachu 2 years ago
Some say Prez Hoover did to little and others say Prez Hoover did to much. How can I verify?
Pnkbong 2 years ago
Peter has a lot of good insight but he is totally myopic about one major variable, Islam. He ignores it, completely. Take his analysis of India, for example. India has the bad luck to have Pakistan and Bangledesh as neighbors, both of which has declared they will re-islamize India. The costs of holding off this terrorism, with 30% of the population muslim, will be a huge drag on india. Look at the progress of Sharia into the Western world. Peter has no grasp of the implications of any of this.
laosuwan 2 years ago
I don't disagree that fundamentalism is bad for lot's of things but....
he doesn't talk about Islam just like he doesn't talk about christian fundamentalism in the US, catholic priests molesting children; it's not the subject. Your claims that he's myopic about that subject is baseless.
rationalCrash 2 years ago
Priest molesting children or Mullahs marrying children, this has nothing to do with my point. Catholics have no doctrine that economics should be based on their holy book . The comparison is ridiculous.
The cost of defending our economy against terror and jihad, the inroads of sharia law into Western jurisprudence, like we see in England and Denmark, these things are absolutely huge threats to the economy. Do some research into Obamas terms for Sharia finance in the AIG bailout, for example
laosuwan 2 years ago
Your claims that he's myopic about that subject is baseless
This matter of ignoring those who try to destroy our financial system as part of their quest to impose their religion is not baseless; 1,050 years of history and the words of those attacking us themselves prove my point. Multiculturalists, those who hate democracy and the West, those in denial, these people are apologists or deniers, but Peter has a brain and studies history, he should not miss this piece of the puzzle entirely.
laosuwan 2 years ago
Muslims aren't destroying our financial system, we are doing it ourselves. The Fed, the US government, and the people who believe the talking heads in the MSM without doing any research are to blame. You sound like the brainless conspiracy theorists that blame 9/11 on little bush and not the terrorists who actually did it.
rationalCrash 2 years ago
That's right. The muslims and everyone else will use our irrresponsibility to take as much of our stuff as possible, naturally. A fool and his money (and property) are soon parted.
This is true of the US. The US filled with lazy losers who will soon be parted from their wealth.
roddiero 2 years ago
Financial Jihad is not a conspiracy. The Economic Crisis: Al-Qaeda's Response," Richard Barrett, Policy Watch. Dr. Rachel Ehrenfeld Human Events "Why are Western financial officials playing into bin Ladens hands?" Lt. Col. Jonathan D. Halevi in IMRA, "What Drives Saudi Arabia Terrorist Financing?" Frank Gaffney Center for Security Policy StopShariah. Hillary Clinton's Conflict financial jihad , Dick Morris FoxNews. Google FINANCIAL JIHAD or website w^3 d ot terrorfinance do t org
laosuwan 2 years ago
We know who did 9/11. Islamists. We know who did Entebe. islamists. We know who did Khaibar in the year 629. Islamists. What you dont know is that Jihad is not limited to physical war but also to raising money and destabilizing the economy of non muslim states. I have studied Islam for six years and believe me it is a much bigger threat than Geitner or inflation. Get focused on the whole picture.
laosuwan 2 years ago
is child molestation fundamentalal to catholicism? No. Is destabilizing and overthrowing non muslim states and their economies fundamental in Islam? Yes. Does Peter Schiff cover economics? Yes. Therefore he should at least understand something about the role of Islam in the economic crisis because it does play a role we are not being told about in mainstream press
laosuwan 2 years ago
your hatred and fear of muslims have seriously twisted your outlook. Listen to Peter; the Fed, and our borrow and spend politicians have caused our economic problems.
If you want to know why (mostly) mulsim terrorists attacked america listen to ron paul; we buggered with them first and have military bases on their lands. We'd be pissed if they did the same to us. try not to be a true believer and look at the facts.
rationalCrash 2 years ago
I have no hatred for Muslims but unlike you I recognize the danger of Islamic theology to our economic. The first attack on US by jihad was to merchant marine and our navy did not yet exist. Look into the marine anthem, to the shores of Tripoli and Thomas Jeffersons report to congress about what the jihadists told him when he asked why they attacked americans. Your self blame and white guilt is typical of decades of brainwashing of multiculturalsim. Good luck to you in waking up.
laosuwan 2 years ago
If you have to go back 200 years for a random quote, you are seriously deluded. You keep ignoring the obvious reasons our economy is crap (see peter schiff) and blame those not responsible. You aren't much different than the wankers who think it's "evil capitalism" at fault. The first step to recovery is you admitting your mindless hatred and fear of muslims. did a muslim break your heart? is that why? lol.
rationalCrash 2 years ago
First you say muslims hate us because we are in their lands. I go back 200 years to show you they hated us before we were in their lands. Then you say I have to go back 200 years to find an example. You are obviously a moron and its pointless to try to educate you with facts because you dont respond to facts only emotion and bias.
laosuwan 2 years ago
Actually I wrote that it's one of the primary reasons the CURRENTLY hate us (engrish you second language?). their are plenty of Ron Paul videos out there explaining it for the ignorant like you. You keep avoiding the whole point (ADD? IQ=67?, angry his muslim boyfriend left?); our economic problems aren't caused by muslims. your hatred of muslims won't change that fact.
rationalCrash 2 years ago
by the way, the "random quote" you refer to was the State of the Union Address. Moron.
laosuwan 2 years ago
200 years ago. Obviously had nothing to do with our current economic problems. (get someone who knows how to tie their shoes to explain it to you).
rationalCrash 2 years ago
You're the man Peter!
dleddy14 2 years ago
Buy FAZ
Bmx33606 2 years ago
Talk about moving in the opposite direction, consider Nana Motors of India is producing a car (Nano) which only cost about $2,500! What is Obama and his cronies doing? More tax hikes for lower emissions! Expected added cost for future cars, $1,300 more! India has a car for $2,500 dollars and we have $1,300 being added to a $25,000 vehicle that I don't have the money saved for and can't afford already. Now if Nano priced cars were available in America I could afford one at that price!
nvsyru 2 years ago
You've got it right. I guess Obama woke up this morning, and decided this new folly of his will somehow help. People do not have 2 dimes to rub together, and he thinks people will buy this car. Hey Mc Fly, we're in a depression and making things like transportation and food more expensive will put America over the edge!! Did you notice the first guy he introduced at the "historic" car event was the head of the UAW? India has its sacred cows, and Obama has his......
flightlevel66 2 years ago
The currency crisis is coming shortly and hyperinflation will happen so fast Americans won't have time to prepare. Tell everybody you know to read the articles and signup for the free newsletter at: Inflation . us
jzmdi493 2 years ago
haha... what is a damn newsletter going to do for Americans? make them aware?!
cyclohexane1 2 years ago
No manufacturing = no recovery for America. American politicians killed the middle class with NAFTA and uncontrolled illegal immigration. Americans are headed to third world status......fewer jobs at less pay and a destroyed currency. Hang on..its going to get worse before it gets worse.
nikto2000 2 years ago
Inflation is THEFT, it is the LOOTING of an entire nation, it is just to bad that people are not informed enough to understand it, and how the scam works.
putittogether 2 years ago
The Market is not a Law of Nature, it's not like gravity. It is a man-made phenomena that we need to treat like a piece of complex software that needs to have bugs fixed and be upgraded periodically. There is no magic, faith is important (ex: perceived value) but we need to be able to adjust it and Gov't is the only way we can do it in a rational (I know..) way. That's why the religious right like Reps, they too have faith beyond reason
jrubin22 2 years ago
But how do you know these so-called bugs are not merely products of government intervention, and how do you know fixing these bugs will not create new bugs?
The market does not work out problems instantly, but with time even huge problems like the ones we are experiencing now will be rectified.
There is no magical fix to this problem, we need to go through a painful recession so assets can be reallocated correctly, something the government CANNOT do.
rixross 2 years ago 2
There is no way to know where the bugs are coming from. But as someone who is not very active in the market, I am now paying taxes that go towards bailing out AIG et al. Obviously, the people I trusted to tend The Market were incompetent and/or criminal. Now I want my elected officials involved in the process of spending my $. I don't like welfare queens of any tax bracket and want my Representatives to keep them as straight as possible.
jrubin22 2 years ago
We are only paying taxes toward bailing out AIG because the government decided to bail out AIG. That doesn't mean it was the smartest thing to do in the long run.
rixross 2 years ago
dollar dropped 0.7% today in 24 hours, are you that stupid.
spyletu 2 years ago 3
am I stupid enough to think 1 day is important? no, thanks for checking.
jrubin22 2 years ago
The dollar has lost 3% of its value in the last year and salaries are flat while unemployment is steadily rising? These facts would matter to you if you didn't have a job or you needed to stretch your dollars to survive.
Lyndehouse 2 years ago
actually, if you don't have a job then you have no need to care what salaries are--they're being paid not to you, but to the people who do have jobs!
jdepps13 2 years ago
you do seem stupid enough not to check that dollar has fallen for about two weeks straight, that amounts to almost 10% in the last month. also the one day drop is an implication of how many short-term holders there are in the dollar currency market as every time there is a sign of a dollar drop, people flood away from it, and of course again you have to have a little trading experience of your own to know it's a rather big % by comparison mr. inactive in market that thinks he's not stupid.
spyletu 2 years ago
either way don't bother replying unless you think you have market knowledge i do not yet possess and there's something you can actually enlighten me on, because so far this seems pretty one-way and i'm not a fan of taking my time to give free financial lessons. peace and have a nice day.
spyletu 2 years ago
last two month*
spyletu 2 years ago
I agree with Mr. Schiff on the decoupling theory, but I wouldn't touch China, Korea, India or Russia with a ten foot pole right now. Their markets are up as a result of perceived GLOBAL improvement in the economy. For th time being, we are all 'coupled'. My view is that decoupling will occur AFTER a total collapse of global equity markets. The supply/demand dependencies will take time to unwind and a total collapse is what will be necessary for this to happen. mac @ shtfplan . com
MacSlavo 2 years ago
Comment removed
germana00 2 years ago
This has been flagged as spam show
MacSlavo, we will not be blessed with a total collapse. And, most likely, there will not be a total "decoupling". There will be re-arrangement -- the US will have a much lower standing of living while other nations (including China, India...etc) will raise their living standards. At least for a while, I think, other nations will not be "stimulating" their economies, by spending, as some people might expect. They may have learned that over spending isn't good and, as a consequence, under spend.
germana00 2 years ago
1. National Debt on Jan 20th 2001: $5.6 trillion or 35% GDP and on a DOWNWARD trend since 1995!
2. National Debt on Jan 20th 2009: $10.6 trillion or 80% GDP and on an EXPLOSIVE upward trend.
jrubin22 2 years ago
I am compiling some playlists of the highest quality (accurate information) clips I found concerning the Great Conspiracy everybody is talking about. Those who are interested can have a look at my page. It contains 3 playlists (250+ vids) with archeological information and historical data as well as some interviews with ex-illuminati and ex-masons. It's best to start with the first playlist.
Remember that some of the clips contain sneaky misdirections concealed within the truth.
Uenbg 2 years ago
begs the question that if the illuminati own everything...then where did you get your "correct information" clips from.......
DARKnDODGY 2 years ago
There's still a lot of information about human history and the nature of mankind that has been hidden from the masses for thousands of years by secret societies that control the banking system (Rothschilds, Fed, etc.).
But it's all coming out now, just as predicted long ago.
Re-investigate your history and find out what's been hidden from you.
Uenbg 2 years ago
its called books by murray rothbard. "the case against the fed" "the ethics of liberty" and "conceived in liberty"
spiggitybap 2 years ago
Yeah, you're sound is too low.
merrimac291 2 years ago
Love your work Peter. The FEDs printing press is stealing wealth from us - the working people. The goverment is stealing our purchasing power - they should be charged with stealing.
PlatinumGordon 2 years ago 2
Peter did you decided to run for senate?
fabregatoribio 2 years ago 2
The funny thing is, the government has objectively been running "counter-cyclical" policy since 2001. Counter-cyclical=counter-free market.
libertyeconomics 2 years ago
When I saw Rep. Alan Grayson grilling those from the I.G. asking where did the money go, I thought, this is great.
But then I saw the video where he advocates salary caps on business that got TARP money, and I can see he really doesn't get it. Not if he doesn't realize they shouldn't have gotten the money in the first place.
Just another Barney Frank trying to deflect the anger we all feel away from himself, and onto some faceless VP. at AIG, etc.
IamJacksUserName1 2 years ago
your sound is too low
bowtie728 2 years ago
Pete, do you have your mic close to an open window? We hear windy noise all the time but not too much. Anyways, great vid again and thanks !
EcoFailure 2 years ago
It is only a matter of time before the U.S. dollar becomes worthless and Americans who aren't prepared will soon be broke. Read the articles and signup for the free newsletter at: Inflation . us
jzmdi493 2 years ago
i suggest you run for senate! peter + rand + ron (congress) = WAAAAAY better than 0.
spiggitybap 2 years ago 4
That would be great.
Betty5150 2 years ago 2
Heck yea!
NotAnotherPlatformer 2 years ago
Hell yes this would be great
eightbitgnosis 2 years ago
ROCK ON PETER!
emp0rizzle 2 years ago
Peter! I love you man, but please, don't wear white shits when recording a video!
Panpiper 2 years ago
Ron Paul 2012
alex3914 2 years ago 2
Thank you, Mr. Schiff, for being a beacon of truth at a time when truth is in extremely short supply.
kohl1999 2 years ago 2
Cant find the paper on the website?
Can you plz link it here? on the info section?
capaneo 2 years ago
google:
bewareofobamanomics europac
I think that it is it. If not... my bad. :D
Voy2378 2 years ago
You can't put link in youtube....
europac****/whitepapers.asp
pntrain5 2 years ago
Peter, you've got to get a Youtube partner account. That would allow you to upload more than 10 minutes videos. As things progresses, it's pretty clear you'll have much more to say, and many here will greatly benefit learning about it!
uze6666 2 years ago
you think Youtube want to be partner with Peter Schiff ?
that would be weird, guess u talk about some Company Privilege thing
yobody 2 years ago
As you know, you aren't invited because you aren't good for "business".
After hearing your speak, someone might refrain from buying and, instead, save.
A lot of businesses are dependent on the status quo, and anyone who threatens that is not be welcome.
They will do whatever it takes to keep their unproductive jobs/businesses going, including propagating all kinds of vile behavior through movies and shows...yes, bad behavior, whether overspending or something else, is good for "business".
germana00 2 years ago
there's money to be made in revolutions and that looks like where we are headed.
What the Socialist Elite Bankers on Wall Street are doing is taking the money and buying gold. The People will be broke and these Corporate Bankers will have all the gold.
We're being robbed by corporate crooks!
Audit the FED H R 1207
marniespeaks 2 years ago
Comment removed
germana00 2 years ago
This has been flagged as spam show
Hyperinflation is already starting right now and if you don't get ready you will go broke. Read the articles and signup for the free newsletter at: Inflation . us
jzmdi493 2 years ago
Hey George4Title's sock account... you can quit scamming all over youtube now.
Astrocreep69 2 years ago 3
Yeah g4t is worse than a damn telemarketer... what a troll
kenandjasha 2 years ago
Comment removed
jzmdi493 2 years ago
here's 5 bucks... oh wait, thats the toilet paper that i just wiped my ass with.
inconformant 2 years ago 4
I'll take that 5 bucks. Shit, I'll take a dollar. Since $5 USD are just toilet paper send me some with paypal.
christo930 2 years ago
yeah India is the next big thing!
Next decade or two belongs to India!
with a billion of aspiring young Indians in a democratic free market nation, everybody should be scared!
Bet you 'll need 50 dollars to buy a rupee, 20 years from now!
madhuradi 2 years ago
For that to happen, the politicians have to step out of the way and stop interfering in the economy with ridiculous laws, taxes and subsidies.
And don't forget that Manmohan Singh, the new prime minister, was instrumental in impoverishing most of the savers in India during th eearly 1990s by devaluing the Indian currency to "gain a competitive edge in exports".
With Keynesian ideas like that, India ain't getting out of the gutter. Sure it's a bit better than communism, but it's not free market
MengersDisciple 2 years ago
Why does anyone else need to be scared? More productivity from India will be great for Indians, but it should be great for the whole world. Same for China.
Jaycephus01 2 years ago
Well Blinder could have Blinders on...
americafirst101 2 years ago 2
If you like this grayson guy I suggest you watch this video
watch?v=ITq19ezj_Xg
He wants to regulate the salary of all employees of companies that get bailout money, including secretaries and personal assistants but he won't define a range or define "excessive", not even with a range.
Pretty scary shit
christo930 2 years ago 3
Comment removed
IamJacksUserName1 2 years ago
thanks for having freedom as the goal and not partisan bickering. Alan Grayson looks familiar, but will know specifically who he is. thank again!
nogl0001 2 years ago
Didn't Peter recently say something about a meeting with someone from the White House?
If so, update please.
Epic878787 2 years ago 5
He may have been requested to keep the meeting private. Which would preclude him from even saying anything like why he is not commenting. Just consider it a good sign that maybe someone is listening.
Panpiper 2 years ago
Mike Norman - drug addicted crazy economist
DesTroYeRuS7 2 years ago 4
Awesome! 5*****
DolphinFilms 2 years ago 3
Decoupling is happening right now. It will take a while to really play itself out though...
helpendthefed 2 years ago 2
I don't want to see the world do bad but its hard to fathm a decoupling. Canada does a whole lot to service the US economy with oil, crops, tourism. It seems like places changing their production to not service the US will be just as laggy as the US switching to producing as opposed to consumption.
AM429 2 years ago
Did you hear that China wants to start to trade with Mexico using their Yuan instead of the USD? That's decoupling.
helpendthefed 2 years ago
Thanks for the update!
BlueSkies360 2 years ago 3
/user/RepAlanGrayson
BlueSkies360 2 years ago