Peter Schiff at Harvard University 11/07/09 Part 4

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[LisaJ4Liberty]

Peter said something interesting there: The Chinese government is taking their people's purchasing power away from them and giving it to us.

Wow. And we think we have a corrupt government.

[leafwatch]

Schiff has such great, specific examples to dramatize his points.

[xMaXiMuSx]

@LisaJ4Liberty

THey do that because we still have a lot of leverage over them(after all we have them sorrounded with our military) but that will end.. Despite that the Chinese actually save and invest 35% of their money and are thriving.

[rustyscrapper]

the solution is an economy where people can live comfortably off working 20 hours a week. If people were debt free and owned a home mortgage free, and inflation didnt kill buying power it would be doable. Then you could spread all the work around, or have 1 income per family, or retire at 40. If the average person could work their way to financial freedom with ease then employers would need to be competitive as hell to get workers, instead of having people literally killing eachother for jobs.

[edschaeffer]

India bought 200 metric tons (or tonnes) of gold for $6.7 Billion. That equates to about $950/oz. Schiff says in this vid that India "paid more than $1000/oz." In relative terms he's adding at least $300 million onto the price tag that they actually paid for it.

Really, this just raises the psychological price that Indians buy gold for. Also New Delhi may just be trying to assert its authority onto the global economic stage, and increase its voting power in the IMF.

[EcoFailure]

the HD video is terrific yet the audio is SO annoying.. my ears hurt

[highwingprop]

@VeteransAgainstKonop also, i think it's actually the sound threshold of the camcorder's mic, not the actual mic that Schiff's speaking on that's the problem.

[highwingprop]

@VeteransAgainstKonop Why should Harvard University, a university that unsurprisingly similar to many other major universities, teaches Keynesian economics, support a group like Students for Liberty / Young Americans for Liberty going for Austrian Economics and limited government? ;)

[leejae]

Mark-to-fantasy.. Lulz!

[voittajac]

its peters fold as well just next time not so close to the micro...

[VeteransAgainstKonop]

Why can't HARVARD University put together a better microphone system ?

[stealthpakfa]

ALL governments are evil mofos.

its the people that suffer.