Peter Schiff: "All the Speculators, all the Bankers...all the Financiers want Inflation"

Watch the second part of this interview at http://www.youtube.com/watch?v=odjp48lzpgU

The European Union's summit solution or no solution? Friday, markets were excited for a day, but now is it just back to reality? Moody's reiterates that its ratings for the eurozone are still negative, with a downgrade still in the card for a number of sovereigns, including, you guessed it, France. Sarkozy says the loss of a triple A (AAA) would not be "insurmountable," and that If the rating companies did "pull it, we'll face the situation coolly and calmly." Really? Maybe for Napoleon this is true, but in Latvia, depositors are already lining up to take their money out of banks, which proves that "cool and calm" is not always something that can be achieved simply by words alone. And this should concern France and the rest of the Eurozone, in light of reports like this latest one by the OECD, which warns that industrialized governments should expect to struggle with borrowing more than 10 trillion dollars this year as they remain at the mercy of the market's "animal spirits." And speaking of bank runs, it's the anniversary of one that started in the US in 1930, credited with bringing down the banking system. So what could stop that from happening today? While people talk about jobs, the deficit, the president...is this the silent threat that could bring down the economy? Peter Schiff of Euro Pacific Capital joins us to discuss all these issues. He is host of the Peter Schiff show, as well as author of many books including "Crash Proof," and "The Little Book of Bull Moves in Bear Markets."

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[lindor1695]

@markv65 I don't believe in abortion but maybe with that shallow pigs like you would become extinct.

[lindor1695]

@MasterofGan Sooo, you remain deaf, dumb & blind unless there is something shiney & pretty to look at?

[TheMadCrumpet]

So if we went on a gold standard, does that mean I would have to quit trading currencies and get a job? I want a gold standard, Ron Paul and Liberty but I also want to be able to make a living from home... I would take Ron Paul over Forex any day but it would be nice to have both.

[rvrola]

@jimmyt3411

It's best explained in detail and for you to comprehend better if you watch Bill Still's Documentary "The Secret of The Wizard of Oz." It's in you-tube. A real economy is not based on how much gold a nation has, instead, it's measured if the standard of living of all people. The 1% use gold as a trick mechanism to control even further the 99%. Lyndon Larouche's website is also a good place to understand what a real economy is.

[jimmyt3411]

@rvrola What do you mean by 'debt-free' credit? When you take out credit, you are by definition in debt to your creditor. Abraham Lincoln's greenbacks? You mean when Lincoln printed vast sums of paper (greenback) funny money to fund their invasion against the South, should we go back to the money-printing system? Oh you want to go back to FDR's stupid banking policies of taking risk of banking with expanding depositor's insurance (FDIC) and further regulate or banking system. Get real buy gold

[rvrola]

GOLD IS JUST ANOTHER TRICK MECHANISM USED BY THE 1% TO CONTROL THE 99%. THE SOLUTION IS TO USE A DEBT-FREE CREDIT SYSTEM SIMILAR TO WHAT ABRAHAM LINCOLN'S GREENBACKS. WATCH BILL STILL'S DOCUMENTARY "THE SECRET OF THE WIZARD OF OZ." THEN SUPPORT THE REAL SCIENTIFIC PHYSICAL AGGREGATES ECONOMIC POLICIES OF LYNDON LAROUCHE UNDER FRANKLIN ROOSEVELT GLASS-STEGALL LAW. THIS COMBINATION WILL END THE USURY AND MONETARY SYSTEM OF LONDON AND WALL STREET FACISTS AND GOLD BUGS TOO.

[ostralopithicus]

@mstrephoenix1 -- Present questions, facts, and/or serious meaningful arguments or you only demonstrate the quality of your OWN character.

[ostralopithicus]

@shilltheshillXXX I made a simple statement of fact, you will obviously take from it whatever you want.

[markv65]

Man I'd love to knock this cutie up!

[Melki]

People what do you think of debt principals being adjustable to CPI, if deflation happens then the debt principals should go down accordingly, if inflation happen then debt principals go up accordingly?