Peter Schiff Video Blog - February 4, 2011

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Today we got the highly anticipated employment report for January. The unemployment dropped to 9%. However, we only created 36,000 jobs. How can the unemployment rate go down when so few people got jobs? The government also readjusted the number of jobs that were created in 2010 by 300,000. These are quite confusing numbers, and government numbers are always suspect.

The stock market was stronger on the day. The Dow was at its highest since August of 2008. Gold and silver also were up. They had a relatively weak week, but today's move put them in positive territory for the week. The yields on treasuries also rose. They are still at a low level, but they are rising at a pretty quick rate. If they keep going up at this pace, in a few months the rates will be at their highest level in a decade. Imagine where mortgage payments will be if rates get this high.

The main reason that the stock market is rising is QE2. The Fed Chairman admitted this, but he denies that the rise in commodities have anything to do with quantitative easing. He also said that he is not responsible for the inflation in Egypt. He blames the rise in commodities on the monetary policy of Egypt. But their currency in pegged to the dollar. If they would decouple their currency from ours, then they would be able to fight inflation much more easily. It is interesting that Bernanke is quick to blame rising prices on the monetary policies of other countries, but he refuses to take the blame for the rise in prices in terms of the dollar. All of these Keynesian policies are nonsense. He might as well be taking advice from a comic book.

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• peter schiff video blog

[uppercutter21]

@Piper43078 People are emotional beings. He's a person so let him be emotional. Especially about something that means so much to so many like America's entire economy. He sees the danger that we don't even notice. It's like a guy who knows a bomb is about to hit us would tell people as passionately as he could. He's trying to shake people out of there sleep.

[Townecross]

@Piper43078 No! Wrong! Sometimes people need to be passionate especially the ones that are listened to, like Pete is. People in cairo were not just being level headed they were passionate along with being pissed off,

[Townecross]

as well as being level headed, and the whole world listened to the noise! America needs to make some very very loud noise to stop all these scumbags. and if you watch Peter he gets pissed and passionate he just has to take it up a notch. So I beleive your B.S pussifacation of America approach is wrong.

[Piper43078]

@towneedogg . No you are wrong. Peter does not need to be hot headed. Peter has great skill in communication. Something i have never wittnessed in my life. Being hot headed people don't listen to what you are saying but they listen to the noise coming out of you mouth and can't comprehend or care about what a person is saying. He has great communication skills coupled with a great knowledge of his craft.

[sancholer]

Its Time to re-read 1984. unemployment numbers total BS.

GO PETER !

[towneedogg]

How do you stay so level headed and not get passionatly pissed at the fed? you need to start going off the handle at these bums running our loot. God bless you Peter!! I am listening.

[FOXnewsAlien]

What does Peter Schiff think about the NYSE being sold to Germany?

[3rdStoneObliterum]

lizardgizard is a moron. He prefers to blindly follow Bernanke!!!! than Schiff!!!! hahahahahahahahahahahahahahaha­hahahahahahahahahahahahahahaha­hahahahahahahahahahahahahahaha­hahahahahahahahahahahahahahaha­hahahahahahahahahahahahahahaha­hahahahahahahahahahahahahahaha­hahahahahahahahahahahahahahaha­hahahahahahahahahahahahahahaha­hahahahahahahahahahaha!!!!!!!!­!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!­!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!­!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!­!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!­!!!!!!!!!!!!!!!!!!!!!!!!!

[udical]

peter is great

[lizardgizard2002]

@mojo1514d Good luck to you too.