Peter Schiff Responds to Obama's Speech 4/14/09

http://www.EuroPac.net

Peter Schiff's responds to Barack Obama's abysmal speech in this video blog "The Schiff Report," April 14, 2009.

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[livingaftermidnight]

The problem is, even if American's are broke, the Government will still spend, spend, spend because they have an unlimited supply of fiat money from the Federal Reserve. The more money they create, the more fucked we become with inflation. STOP THE FEDERAL RESERVE!

[brown55061]

WRONG AGAIN!! We are doing the same thing Japan did in their inflationary period, except worse. SPEND SPEND SPEND! But the best part is the 700 billion bailout is that it was actually 10 trillion in foreign entitlements. I'm sure you knew that already though, clearly you are smarter than everyone else haha. How exactly does paying foreign private banks in the IMF helping stimulate our economy? I'd love to hear your stance on macroeconomics.

[vultureofawhore]

December 23 1913 was the last day of this country. That is the day that lives in infamy.

[disaLlfaya]

dude... pete .. i love u bro.. u actually took the time out to break things down so the average guy can understand that wall street stuff.. peace

[paulbutkiss]

wheres his beard? watch fox for real news :)

[acchichi1]

You don't need a PhD to understand economics, but in order get an economics PhD at an brand name university, you will need to disregard basic logic and the reality right before your eyes and explain, probably not even in your own words, the party-line fantasy account of how Keynesianism or Marxism will create paradise on earth.

[jimmyjoe1975]

Right track, but food is not a good backing for certificate issues. Think about your banana certificate that then rots.  That certiicate quickly becomes worthless. But you are on the right side of freedom.

[scrapdaddy811]

this guy is right on the money. the largest problem with our economy is the trillions of dollars changing hands with nothing to show four it. wealth is not just the exestance of dollars thare must be assets created to back it up, or you have to many dollars chasing to few goods "inflation". the deindustrelisation of our country is what has created this economic bust. even the rise of realestate prices is nothing but speculation if it surpasses the value of durable good being manufactured.

[ianclivewright]

I don't know why you need to have an in depth knowledge of Austrian economics.

It seems obvious to me that currency is a replacement for barter, that what backs it therefore has to actually have an intrinsic worth, that spending more than you earn constantly is a bad idea, and earnings from "services" is a chimera that is bound to fail.

If I can see that as an economic novice, why are so many economists surprised by the present recession, soon to be coming depression?

[DaveDoggOwns]

Yes, they allready raided the Liberty Dollar collections last year. They'll come for the EAGLE gold coins next.

[mookixox]

Why not start at the grass roots? Tell everyone u know to take their hard earned money OUT of the banks and back your own money with gold,silver, food, land...items of actual WORTH. Tell your govt that if it won't back your money then you will. Once the banks lose control of your money watch how fast the govt will LISTEN to the people. You guys can still win this fight, but u gotta take action*