Peter Schiff : Economy is phony, Dollar would collapse if not for BRIC countries interventions

[skyskry]

There is so much injustice in the world caused by fools. Commonsense has fled from our societies. Political correctness has stolen our free speech. Western waste condemns millions of third world people to suffering and the needless deaths of helpless children and others. Religious vilification laws now take us back to the dark ages. How have we come to throw out good sense, free speech and reason for waffle, doubletalk and foolishness? History will truly condemn us as we condemn the suffering.

[ANTIDALLARD]

You aint never gonna see a Wiemar German / Zimbabwe , hyper inflation in America. Just unthinkable.

[UponInfinity]

@ANTIDALLARD You're living it right now, brother.

[ANTIDALLARD]

@UponInfinity Really ? Where ? Prices have never been so low. I'm old enough to remember when it was a stretch to by consumables. Clothes were not easily bought on a whim, even in the discount stores. You couldnt just buy power tools for $10, and dvd players for $40. I agree that the dollar is in a terminal devaluation, Yeah groceries are up about 1% on average, but Wiemar inflation is stretching things a little.

[OurLordLennon]

WE ARE FREEEEE HUMANITY, WE MUST BAND TOGETHER ! AGAINST THE ROBBER BARONS, CORPORATE ELITE!

THE MURDEROUS ELITE & THEIR TRAITOROUS POLITICIAN FOOLS ARE COMING DOWN ! PUBLIC LYNCHING, TAR, & FEATHERS COMES TO MIND !

TEACH EM A LESSON GUILTY OF MULTIPLE MURDERS ON 9/11, 7/7 & MORE WORLDWIDE, THEY WONT DO IT AGAIN OR ITS TO THE GALLLLLOWS! NOTHING BUT VIPERS, THIEVES, & MURDERS ! VIVA LA REVOLUTION !

[hibeeApostle]

there is no audio on this video can't you get this sorted please?

[trysum1841]

the whole PAPER money structured, monetary WaLL STREET shit is ALL A FALSE SYSTEM it is a one big e-CON -omy and lie after lie, paper money is as fake as monopoly money paper is. Competition is MORALLY offensive,, this fake paper game is nearly OVER,, FINISHED!! GOOD RIDDANCE TO CORRUPT MONEY WHORE PIGMEN, JUST TOO BAD THEY DESTROYED A PLANET FOR A FALSE SYSTEM.. WAKE UP, TURN ON , TUNE IN, DROP OUT,, WAY OUT.. WE ARE A FAKE SPECIES, AN ANOMALY OF PAPER LOVING WHORES!! S.O.S!!!

[stephenrhaylock]

All the people that lost Everything!! All there pension and retirement money..Your right the Govt blessed these agencies and they backed these loans. Salie Mae...artificially inflating prices..Countrys Artificially prop up dollar simply to export there products here.The economy is phoney and its going to fell, i agree.

[curthor]

7:08 "We need to have an economy based on free-market principles, and we need to respect the rule of law"--idiot contradicts himself, over-regulation led to this crisis, right, thats why as soon as bush deregulated banking brokers everywhere raped the pockets of consumers. Look it up, don't listen to this retard. Banks(hold the money) lent that money to consumers(borrowers) who couldn't repay, because brokers(jackasses) wanted a 10k/month commission. I know i was one of them. lol j/k

[jayking316]

To save the US economy the stimulus money should go towards teacher's student loans. Then the 6.8million teachers in US would spend. It would be an investment that would boost the economy immediately and would LAST. Cutting from education results in the opposite and adds to the recession.

[ugotpimp]

yeah free market !!!

boo federal reserve and central planners !!!

[CommanderUTube]

I am sure there must be a way out of the financial mess and economic collapse.

There are many wise heads around. If only the false prophets can be seen for what they are and people rally behind good leaders.

I am touched to read that when Thailand got into trouble last Asian Financial Crisis, Thai patriots,rich and poor,brought out their gold,savings to help put their country back on its feet.

Americans in Singapore too who bought collapsed Citibank stock here have profited from its rebound

[23580578]

islam is the fastest growing religion in the world ...............check it out in google

[estorpai]

All people who go about talking about religion be it Muslim,christains and others are satan brained washed worshipers who are only good at wars and preaching hate,dividing human beings for their selfish narrow minded believes. The human kind has one and only one GOd,nobody knows a damn thing about him,all the hypocrite religious leaders know no nothing.People should keep their fucking religions to themselves and their regions.Cos as an African you guys(xtians and Muslims)kill my people to expand

[mjalloxxxx]

read "Das Kapital". There you have it

[Igor707]

I always enjoy hearing Peter Schiff's comments on economy. He is a very smart man who predicted the crisis many years ago when many so called "experts", supported by the corporate mass-media, were mocking him. Ron Paul and Peter Schiff are proofs that there are still intelligent, decent, honest people in USA.

[jaafit]

audio sucks

[HackerMode11]

your pc sucks,your audio card sucks,your speakers suck,...get rid of your clunker,sheessssh

[Tigerpaws9097826]

Peter gets some things right here in terms of his predictions of our probable future and the current position of the BRIC countries relative to the U.S. dollar, but his analysis of how we got here is way off base; most of the people posting comments here understand things better. It was not only Fannie Mae and Freddie Mac that caused problems; high-flying bets at Countrywide, Merrill Lynch, AIG et. al had at least an equal impact, because they weren't regulated.

[Rockguitarnow]

This is stupid. It is a capitalist extremist ideology of no government, allow the corporations to steal and pillage, no taxes, anarchy, only the strongest survive and let the weak and poor die off.

This is the ideology that caused communism to surface in 1918.

[machaeroguy]

You are no fan of Ron Paul, I've realized now. In a free market, the consumers are the a-ethical kings who try to save a buck here and there, as I, and I'm sure u do when we make our personal shopping lists.

At best, the only argument corporate demonizers like you have, is that the corps are trying to save a buck, while you the holy consumer only buys products which turn ditch-diggers into CEO's.

[yo1dude1man]

This guy is full of BS. Everyone knows that the crisis began when Clinton signed into law Phill Graham's legislation that abolished the Glass-Steagall Act.

[ImperialEmpire]

This guy must be on the board of some corporations. It's well known that under-regulation caused the crisis because unregulated institutions like hedge funds were the ones doing this stuff.

He will never go on a major financial news channel and state what he's stating here, because they'd provide evidence of the contrary, and he'd look like a fool.

[lynx29]

you have no one to blame but yourself in this situation. Even when you knew there was a crisis, you threw money away to fucking banks and the economic elite as "bailout" and in the end they fucked your ass over.

[ImperialEmpire]

Actually, most of the bailout aka tarp loans have been repaid. $10 billion was just repaid today, plus we're earning interest on the money. The US taxpayer is making a profit off of the situation.

[shebargan]

this is plain wrong. He is regular on Bloomberg, CNBC and FOx Business. RT are right - they just give him a longer slot altough I'm not sure if they run it on air or only as a webcast

[UVpirate]

Have you lost your mind?

[murdoc94305]

presents government safety net leading to a moral hazard which misses the entire point, there should have been more stringent regulation on practice and application not protection after repercussions. this is a hugely skewed presentation of the crisis and is a misrepresentation of what the government "should" do. there was nothing left to do but government intervention. the analysis presented here is not timely at all.

[mule1969]

Peter Schiff in 2010...Ron Paul in 2012...I pray.

[Blackjack555]

Destroy the Creature from Jekyll Island.

[mrzack888]

is Peter Schiff deluded? It's not over regulation, but under regulation. the zero interest by Greenspan was not regulation, but bad governance. Regulation is preventing things from going out of hand, not government policy. There is a difference. Fool.

[CombineEmpire]

And the .25-0 intrest rate now is any better? The Fed is repeating the same mistakes it did in the past, not only that but they are monetizing the debt. The dollar is certainly going to collapse whenever inflation starts to seriously increase. Hell, the Chinese know this, hence why they laughed at Tim Geithner when he said the USD and Treasuries were safe back in may.

[TheVampirella]

Peter Schiff rocks! I hope he runs for Senate.

[bbnemesis123]

Geithner and Summers got rid of the most important regulation...the Glass-Steagul Act. The Glass-Steagul Act was made due to the Great Depression. Geithner and Summers killed the Act, and looked what happened...another depression. Now, Geithner, Summers, and Bernanke is going to fix the problem they help create?

Geithner, Summers, Greenspan, and Bernanke all need to go to trial and prison. The Federal Reserve needs to be abolished.

[tepstolog]

so true,on glass steagul act ! and federal reserve, needs to be abolished in a way too! but not realy abolished,it needs to be put in to a bankruptcy reorganization and actually , well nationalized ...! anyway, for a really good factually plan on this, anybody should check the "larouche pac " site,and see for your self , what to do, and what is the real cause for crises! and yes, glass steagul act plays a big role here all so!!! as far as I know, larouche pac is possibly the best for this

[BlacksAreBeautiful]

How does over regulation led to excessive risk taking?it appears that the AIG's, Lehman Bros etc. also operated under implied Govt guarantee as well...Wasn't it Greenspan who coined the phrase "too big to fail" Now I'm not saying more regulation is needed, but surely there has to be some regulation, even if that means companies will be allowed to fail. Somebody has to provide checks and balances, and that body has to be independent or these crooks will rob us for ALL we have!

[xXU2BerXx]

no audio???

[xXU2BerXx]

no audio???

[alphaknave]

Thanks.