Peter Schiff Talks to the 1 Percent! "We're not even near the bottom yet!"

"You Got this Occupy Wall Street crowd that wants to have a communist revolution," says investment guru and outspoken defender of free enterprise Peter Schiff, "but hopefully we can have more of a free-market...second American revolution and understand all the pain we're about to endure is because of government. It's not because of capitalism."

Schiff caused a sensation last month when he visited New York's Zuccotti Park and argued with Occupy Wall Street protesters about the causes of and solutions to the Great Recession. In this video, he talks to "the 1 Percent," a group of wealthy individuals who gathered recently in the Bel Air home of Judd Weiss.

Regardless of his audience, Schiff's message in entirely consistent: Cronyism and government policies have distorted the economy and "we're not even near the bottom yet" in terms of the downturn.

About 6 minutes. Shot by Sharif Matar and Tracy Oppenheimer and edited by Oppenheimer.

To watch other Schiff videos and all of Reason.tv's Occupy Wall Street (and LA and DC!) videos, go to http://www.youtube.com/playlist?list=PL3E65B192ADEB84BD

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Category:

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• OWS
• occupy wall street
• Occupy LA
• peter schiff
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• 1 percent
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• judd weiss
• tracy oppenheimer
• zach weissmueller

[larsiemannen]

@bighands69 Yes, the economics is the problem cause govt. is interfering with free market. This is a lie that most people have bought into. That's why we have less and less freedom of choice of our life. Theft is take from other without consent, which taxes exactly is. I own my production since I own my own body.

[bighands69]

@larsiemannen

The problem is more than just government it is also the system of economics as well.

I do not believe that it is stealing. These socialist economist believe that their model of centralization is the only way to operate a modern society.

The problem is more about centralized system and the lack of free market mechanisms.

[larsiemannen]

@bighands69 They are to blame as well. Nevertheless, the free market started to get dismantled when state has the right to steal money and misled the people by calling it taxes.

[bighands69]

@larsiemannen

Politicians did make it legal but are they any more to blame than banker/financier who created the model and backed the politicians.

[kal9990]

@TheStig000 Yes very much true. My last statement "the PURE Capitalist", which i believe yours was a reply too, if im correct, was quite poorly written, thank you for better explaining it :). maybe you like to comment also on TheStig000 comment "Tolls can pay for roads" ... , if you  like.

thanks

[larsiemannen]

@bighands69 But then again it was the politicians who made it legal with FIAT currency

[TheStig000]

@bighands69 I agree with that statement 100%. 

[bighands69]

@jjenson2006

Historically Fiat currency was pushed by special interest groups and not so much government.

Fiat currency is the mechanism that allows government to produce bonds and in turn debt cycles.

Fiat currency also has a correlation with taxation and this cannot be ignored either.

I do understand your point though but it is only a reaction to the fiat currency not the cause.

[bighands69]

@TheStig000

Yes I have heard of the Federal Reserve and that is also just a symptom of the problem.

The real problem is the fiat money system.

This is the mechanism that allows government to function in its current manner. If currency was gold based government would struggle to control the money supply.

At present fiat money allows government to manipulate the money supply for political reasons and Keynesian ideologies.

[TheStig000]

@kal9990 Capitalism doesn't create monopolies. Corporations lobbying government officials does! The government is HEAVILY involved in corporate activity.