Peter Schiff @48 Years Old Flunks Elementary Monetary System Test

Our boy says "...devoid from reality..." as if he is the only one in the world who understands what is going on... unfortunately for him, it turns out that he is the class dunce who thinks he has bright answers going into a test, but gets his paper back riddled with Fs. That is the true reality.

This clip proves without a shadow of a doubt that blowhard Peter Schiff knows 0 about the US monetary system and how it works.

Required reading:

http://pragcap.com/resources/understanding-modern-monetary-system

http://pragcap.com/read-fed-print-money

These articles explain the issues at hand in detail. Do not post if you don't read and understand the articles as you will be deemed a zombie cult follower and your comments will be erased.

Category:

Comedy

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[mortgageangel9]

The reason interest rates are higher in eurozone countries than in our country i.e. the u.s. is because those countries forfeited their sovereignty when the abandoned their own currencies for the euro. Peterpeterbullshitfeeder

[heckler73]

Peter Schiff is wrong, THIS video makes him look bad----->> watch?v=CnRWTzvHlzk

Especially the part discussing wage stagnation and productivity growth after the 70s.

[rickbar123]

Uncle Pete will say anything too keep is investments in low wage countrys going.

[heckler73]

For Pete, the subject of Chartalism, measured against his paradigm, is akin to the divide between Aristotle & Ptolemy's Cosmology vs. Copernicus'.

It's a 1500 year-wide chasm that Pete will never manage to cross. Even Prof Keen has tried to help him understand basic Circuitist concepts to no avail.

Yet, what would happen if Pete "changed his mind with the facts"? What would be the repercussions to his business (or lack thereof)? His audience and clientele would likely change.