THE Peter Schiff Thread (merged)

[mattduke]

Bernanke absolves the Fed of any blame for the housing bubble.

http://www.nytimes.com/2010/01/04/busin ... 04fed.html

Peter discusses the inanity of it all.

http://www.youtube.com/watch?v=HV3i5JFzieo

[ralfy]

The reason why the Fed kept cutting rates was because it wanted people to spend, and the reason why it wanted people to spend was because 70 pct of the U.S. economy involved consumer spending. This was a country that had been experiencing one trade deficit after another from the early 1970s onwards and resolved that issue by borrowing heavily. The result is almost $60 trillion of total debt spread across government, households, and corporations.

During the same time, big business began outsourcing and Main Street moved to Wall Street to play casino capitalism, and that went on from the 1980s onwards.

A few years ago, financial corporations in CA began to lend money to people with no jobs, no income, and no assets, telling that they couldn't lose because housing prices have never gone down and would never go down. In fact, it wasn't just the Fed but Wall Street that said the same and even supported these corporations, and from there tried to cover up the toxic assets by repackaging them with other investments.

[mattduke]

Chris Dodd is out.

http://news.google.com/news/more?um=1&c ... UajCm0gTcM

[mos6507]

Chris Dodd is out.

http://news.google.com/news/more?um=1&c ... UajCm0gTcM

And he's a republican! Oh, the horror!

[Ludi]

And he's a republican! Oh, the horror!

Huh?

[mos6507]

Huh?

Sorry, my bad. I should have known he was a Dem, if Mattduke was posting the link.

[Stonemason]

http://www.youtube.com/watch?v=ElzNM5-LxyU

Please do a topic search before starting a new thread, and, you are expected to provide a brief paragraph along with the link, and your perspective on the item..-FL

[Jotapay]

http://www.youtube.com/watch?v=ElzNM5-LxyU

That's a great interview. Much of the same from him, but it's true and his message gets a little more refined over time.

[pstarr]

An economic truth is emerging (and a financial tidal wave is on the horizon) that is so much more interesting than this endless liberal/free-market debate. At this point I do not care if FDR really ended the Depression, or rather turned the economy over to the Bilderbergs and the Illuminati.

Read Hamilton, Rubin, and now Oil Caused Recession, Not Wall Street by Tom Therramus, oil-price.net. It is pretty clear that economies track planetary systems (in this case oil geology) and not pet economic theories. It's all about resources and their ownership. The rest is fluff.

Schiff is sitting on the sidelines.

[ralfy]

In general, Peter Schiff looks up to free market capitalism and criticizes Keynsian economics and government intervention, but in his book and several interviews, he looks up to China and other Asian countries that do what he's against.

He argues that the U.S. will fail and sometimes talks about what should have been done to avoid that, but his work involves advising others to investment elsewhere, so it doesn't matter if the U.S. fails because other countries where they invest will still win,

The problem is that these other countries, like China, were doing well because countries like the U.S. were spending, and Schiff wants the U.S. to stop spending. That'll happen eventually, but that also means China and other countries will fare badly...unless they look for other countries who are willing to take the place of the U.S.

[Jotapay]

I think Peter's mentioning of China is probably related to their production-based economy, which is what he says thet USA needs to return to. His position is that it will almost surely take a depression to reset our economy.

[ralfy]

It's not only that:

http://www.lewrockwell.com/murphy/murphy129.html

I think Peter's mentioning of China is probably related to their production-based economy, which is what he says thet USA needs to return to. His position is that it will almost surely take a depression to reset our economy.

[mattduke]

Peter Schiff explains how Obama's new college loan plan will back fire.

http://www.youtube.com/watch?v=NxtMUHvEr-k

[mattduke]

Peter dukes it out with James Galbraith over US debt.

http://www.youtube.com/watch?v=fZrWoZiB9HY

[eXpat]

2011 maybe?
Peter Schiff :Greece Riots will happen in America

Video: http://www.youtube.com/watch?v=Upb9hkQM6wE&p=6C9A139C2E71E45F

[mattduke]

Peter destroys Bernanke latest pronouncements.

http://www.youtube.com/user/schiffreport?blend=1&ob=4

[peripato]

Inflation is well contained.

[ritter]

The man obviously does not pay his own insurance premiums or go grocery shopping.

[mattduke]

Great Schiff rant on Bernard von NotHaus, political prisoner.

http://www.youtube.com/watch?v=-XWAZfAO ... ded#at=775

[mattduke]

Peter Schiff explains the current situation as the numbers turn down again while interest rates are still zero.

http://www.youtube.com/watch?v=wRFP3z0F ... e=youtu.be