Peter Schiff on Yahoo Finance - Sep 9, 2011

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Peter Schiff on Yahoo Finance - Sep 9, 2011

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[qualm43]

$447,000,000,000 job bill.... If this bill adds 500,000 jobs back to the economy (it won't), that will have cost $894,000 PER SINGLE JOB... and that's if it only adds back 500,000 jobs to the US economy.... think about that. Basically if it's successful, it's still a complete failure because none of those jobs will produce 894,000 income for the people who get employed.

[snarbywrx]

Rappaport is a freaking communist. He should take his central planning moronic ideas and buddy up to kim jong un of north korea. All of these people who think like rappaport don't understand what it is that they are truly asking for, and they need to live under real communism for a little while to understand what a nightmare it really is.

[TWSceptic]

When are these high egos finally going to listen to mr. Schiff ?

[ytgv3fc7]

@UponInfinity there should be no financial incentive to loan money. Sitting on the money is the right thing to do.

If a non-financial incentive appears, where you want a person or business to do well not for your own gains, by all means make a loan and by all means, secure it with collateral.

A loan-based economy is a debt-collapse economy and should NEVER be encouraged.

[UponInfinity]

@ytgv3fc7 Okay, then what possible incentive would I have to loan anyone money? Why not just sit on the money, bury it in my backyard, or just go out and spend it?

[ytgv3fc7]

@aegisgfx europac.n et

[aegisgfx]

@ytgv3fc7

where is he running it from, why does he claim to be running a business in America then where things are so 'bad'?

[ytgv3fc7]

@pcuimac real wealth is real money; paper is not money and is today's medium of exchange (and electrons). All real money is a real thing like gold, silver, land, water, fish, oil, uranium. Non-tangibles pretending to be money have no real value and no stable value.

[ytgv3fc7]

@UponInfinity untrue - with a currency for which there was no built in interest-rate (inflation losses) there'd be little need to charge a rate. One need not charge a rate for risk: merely take on collateral to balance risk of loss over time. Those without collateral need never apply - their risk is already so high no loan should be given.

[ytgv3fc7]

@coinageboy you can't save in cash, people need to save because inflation is very high and debts are getting too high without savings. You just save in gold or silver, that will defend unlike paper against real inflation. Interest rates are not to be trusted, nor government numbers for inflation.

[ytgv3fc7]

it's so sad that after all the proven "Peter Schiff was right" videos there's more people stepping up for auditions on the next one.

[ytgv3fc7]

@aegisgfx he already did it - he runs Europacific capital outside the USA where no one can nail him with the regulations he is avoiding.