Peter Schiff Aug 22nd VLOG
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that fish analogy is perfect for the situation in Africa
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Peter you are the best. Keep up the good job !
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Aren't you a little old to have an invisible friend?
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moneypirates com Best website ever. Get educated on what is going on with the economy and how Americans are being robbed blindly!
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Perhaps I can explain it by means of analogy, the greeks had the knowledge of the steam engine. But using that knowledge to power factories and locomotives, had to wait until the importance of accumulating capital as recognized. That did not happen until the Industrial Revolution, when free markets blossomed.
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Lots of people including Peter Schiff, knows the theory, but using that knowledge to anticipate future state of the market, is an entrepreneurial activity, that does not necessarily come with the knowledge of the theory. If that was not the case, there would be plenty of rich economists.
According to the theory, keeping interests rate abnormally low will result in a massive misallocation of resources. But in which sector? Housing? Dot com? All sectors? That is where people like Peter comes in.
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He means that Woods wrote in Meltdown that the crash was predicted by many Austrian School economists. The whole book is a defense of free markets, and explains the real root causes of the boom-bust cycles. It is Peter's understanding of these root causes that give him the insights he has.
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I check that guy speech. and look like people respect Peter a lot and almost nobody leave anything. He must be mad
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Dude, he's Voldmort around here! The name that will not be mentioned... LOL
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All this talk about "discrediting Peter." There's no need to discredit, nor validate, anyone. He's just stating the obvious for the most part. Currency inflation and debt monetization leads to dollar devaluation, and the time interval isn't particularly long between the cause and effect. 1 year, 3 years, who cares. If people don't want to listen to that, then simply don't. It's not going to change the outcome by arguing or trying to discredit anyone. The final arbiter will be reality.
Mr Schiff, Sir.
You are sounding overly defensive. Why? You are one of the very few bold enough, and brave enough to stand up for the FACTS, in spite of the endless media blitz against you for almost a decade.
You should be all guns blazing against ALL of them. They know you were right all along, yet even now most of them are still denying the economic fundmentals.
Good wishes
yours...a London resident
LondonCrusader 2 years ago 10
get the facts. Peter was talking and writing about this stuff as early as 2003. When the bubble began to burst, most "experts" still laughed at him.
To claim that "they all saw it coming" is stupid, unless you mean to say, that "they" lied.
exafc 2 years ago 4