Since 2008 the problem has only ballooned. He analyzed the issue and said no way this can continue for another couple years. But they were able to put band aids on it. But with COVID and all that NOPE that is the final nail in the coffi. We have 20% inflation now. Soon there going to have to raise the interest rates. Then thus whole BS economy comes tumbling down.
the world has been in a controlled depression since june 1971. The people have lost control over their lives for generations to come. Just 'suck it up' and get ready for some long term hard times.
Well partly also, this would have been apparent and would have been more timely if "they" didnt prop the whole system up to put some distance between the dots if you know what i mean......
Yes! Sucks for the young growing up with this government incompetence. The craziest thing of all is that people actually believe we should go to communism to “solve” the problem…..
Yall should read up on the conspiracies 1900 the last president, project blue beam, and the decline of America these are pretty old but very similar even to which party was the minority in the house. FYI it's everyone in DC that's corrupt they intentionally screw everything up than rig the election against a businessman from NY and the republic collapses after the corrupt takes the rigged presidency which would make Trump the last president setting up for the 2nd Civil war and Biden with a totalitarian dictatorship
@@plmainville the ECB (European Central Bank) prints money for Greek and hand it out as a loan with no obligation to pay back. Monetary stability is a joke, nowadays. The US is embracing inflation, as well as Greece and most other countries. Some more, some less, but all do it. The well-being of an economy is not determined by the amount of money they print, but by the goods and services they produce. So, he was right.
Has been terribly wrong for at least a decade. The US economy took off, no inflation arose, markets performed beautifully. Anyone who listened to Schiff or invested in his funds stayed poor. Schiff built a fortune on his ignorance and on his poor investors’ backs.
Wont be surprised if they keep this BS going and people end up adopting Bitcoin on the long run case they realize trusting the system to fix itself is like hoping to winning the lottery.
Watching it in November 2021: The fact that Peter's videos make sense 10 years later is the proof that he is right. The more time goes on, the more right he is.
The fact that he was ten years wrong means he was entirely wrong. This is ridiculous: he didn't say "In 2021, the US will become Greece." This is from ten years ago he was totally wrong at that time. The US hasn't and won't become Greece because it has control of its own currency. It may become Weimar Germany but not Greece. Even a broken clock...
@Sleeping Dog What conditions today in the US (in terms of real impacts) are similar to Greece of 2011? We are so far away from that it's hyperbole to make this comparison. Going forward in the future, the US MAY be Venezuela or Zambia but not Greece.
More like Rome. Once world moves away from oil, petro dollar will lose as reserve currency. Then, we will be minting trillion dollar coins and USA will pay hefty price to pay expensive imports. Then, other countries will find it cheaper to USA to manufacture for their country.
Maybe it’s evidence that Peter’s assumptions about QE and Inflation are incorrect. But the thing about predicting doom is, you never have to admit you’re wrong. You just have to keep saying doom is “around the corner”
Although Peter sounds really intelligent and his thesis might sound really good. he's been bearish on stocks since 2011. Not just bearish but Doomsday bearish. That's 10 years of being wrong on the dollar, unemployment, missing the greatest bull market in the stock market. I give him due credit for calling the housing crash. But as an advisor he's lost clients a lot of money.
The brain is the most underused forgotten about organ in the human body at this point in history. Any moron would know what Peter knows if they actually had single thought of their own.
Not really, history just repeats itself. The fed has the most irresponsible policies they're is and when we no longer backed out money with precious metals we were all on a collision course with destiny.
I startedi lstening to this, thinking it was made recently, and was very surprised when I saw that it was made in 2012, almost 10 yrs ago!! That's crazy!! So relevant today!!
There is nothing new under the Sun. If it's one thing that is clear about humanity despite our intelligence. We repeat the same mistakes over and over again like a dog returns to its vomit
Its called financial education which will never be on any education curriculum because you are not supposed to know how dark the financial world really is and know you are still a slave.
@@NoBoxingNooLife it’s been true for 20 years, they keep kicking the can down the road. Only way out is collapse (and revaluation of the dollar) or for the US to seize more assets (at home and abroad) and then reorganize the global economy around a usd based digital reserve currency probably along with massive amounts of govt owned housing to get enough capital to service the debt
A stopped clock is right twice per day...this guy is a lucky clown who now pontificates like he has the intellect & proven predictive abilities of Michael Saylor.
Peter Schiff has completely changed the way I think about economics. I used to think the economy's well being was primarily determined by the government's fiscal policy. Now I realize that the central bank's monetary policy is just as important, if not more so. His insight that the interest rate should be determined by the markets themselves, has really opened my eyes.
@@lyncarlson2448 What a blast from the past. When I wrote this comment I was at the very beginning of my journey into economics. Many things have changed since then, but the realization that central banks have distorted our economy and set us on a path to a much greater financial crisis is still valid.
I wrote a piece on LinkedIn that caught the eye of one of the Rothschilds... I asked the question... Would you rather have £10,000 now or in a year? Then I asked, what if it was £10,000 now or £11,000 in a year? That is how we arrive at interest rates. The time preference of money is its interest rate, and that varies for different people, at different places and different times. The average (mean) is the market rate. There's your market.
50:15 "So, who knows, eventually be might need to borrow 1 trillion or 2 trillion!!, just to keep the pony economy afloat" => LOL 2021, this guy saw it 9 years earlier, holy Sh***
Yet, there are thousands of people screaming "how wrong he is, how he always warns of crises that never come and eventually he might be right one time". I mean, are those people for real? WHENEVER central bank starts printing money (and gives it honorable names such as QE, asset purchase program etc.) it just proves that he is right. Instead of having crisis in one area, central banks hide it by money printing into the loss of purchasing power.
Damn. This guy, Jim Rogers, Jim Rickards, Ron Paul, and Mike Maloney are all being proven right...They could see the economic/fiscal problems years before they happen.
Question. At 30:35 he presents the question - why can't the fed just keep interest rates low forever. His answer is that the fed can't do that because the markets won't allow that to happen. Can anyone explain this further? The fed right now is keeping interests rates low and the markets are hitting all time highs every week.
It takes years to collapse everything ladies and gentlemen. So easy to understand! I am now 50 years old and lived enough crazy times to know that the coming economic depression will be super brutal for millions. Especially the sheeple sheep 🐑 lost losers. Shopping dating 5 Marriages buying big screen TVs Nike’s casinos unhealthy fat lazy people. 😎
Greece and Germany can't be under the same currency because they have two vastly different economies. Greece exports olive oil, Germany exports highly engineered machinery. The Greeks blew all there stimulus money on early retirements and crazy pension plans. Now their kids are paying for it all. 40% unemployment rate for those 18-35. Then the ones who do work only make 700-1000 euros per month. Obviously the Greeks, portuguese, Spaniards and Italians should be an economy based on their own production. But those economies won't be as productive as the Germans and french.
I literally just listened to this and 1000% agree and I then I realize at 51:07 that this is 9 years old! Can I meet this guy and shake his hand just becuz these are the people that I want to run the world. Not these sick mid evil ass bloodlines. . Don’t let that go over your heads. But this video is spot on.. even right now
ShadowStats just recently updated their U6 Unemployment numbers and they estimated that slightly over 25% of working-age individuals (over 1/4th!) aren't working. I'm normally an optimist, but the near future is looking pretty grim...
"Letting the market decide the price of money, ie interest, like it does all prices." I love this analogy and intend to use it frequently-- anyone who's taken a crash course in Economics can understand it. Schiff, you're my hero :D
Yeah right. That’s why value investment stocks works so well for people. 🙄 This guy will catch your attention if your 20 or new to markets. The rest of us now that this is a kindergartener being sent to understand the real world.
Thank you Peter once again. I try and try to get my parents and Wifes parents listen to you. All they say is "I hope he is wrong". Are you kidding me. You are reaching people and keep being the patriot you are.
@@alexnezhynsky9707 With the economy shut down and USA printing Trillions of dollars why aren't we Greece yet? Why are prices stable/no inflation? Where is the chaos. It would seem YOU are in denial, no?
@@ramprasath3346 Yes. Dead wrong. Economy has been shut down for how long now? And the USA continues to print Trillions yet all prices remain stable. Individuals and businesses getting bailed out and everything is moving along fine. Why hasn't price of gold sky rocketed? Why hasn't the value of the dollar dropped?
Who's doing the lending to all of the governments? Define: "CENTRAL BANK" Why didn't he mention who specifically? Isn't it fair to say that if someone or something is lending $ to governments, the same CONTROLS those same governments? 🤔
You can trade with Mr romio strategies,his the best ever known on bit coin forex trade crypto,coinbase and others and try to hurry up because time is money,money is life,life is beautiful❤🤣😂
Peter rocks. If I would be in his shoes i'd be depressed by how few (in comparison ofcourse) people listen, i'd surely get depressed after couple of years. He never wavers to spread the sanity despite all this. I live in The Netherlands, about to graduate from college. Surely i'l put my future saving in gold, because both the euro and the dollar are doomed because of the massive stimilus / borrowing.
Schiff: "The most important price is the price of money." (i.e., interest rate for borrowers). This may be the best video that I have seen on economics. See 32:18. ------ The economy is distorted because interest rates are too low.
3:53 - Decimated the U.S. economy? Peter! The money doesn't disappear. It goes into someone's pockets, which of course is the REASON that they want to continue to borrow! When you have a credit card that someone else must pay off, what incentive is there for you to stop purchasing the things that you want?
Right. This guy receives heaps of praise in the comments, yet comes off every bit the croney capitalist as the big players pillaging the treasury. The massive corruption in politics doesn't factor at all into his analyses. He disses "socialism" at the end, which reveals his monolithic understanding, or ignorance, of democratic socialism, which could be defined as regulated capitalism - contra the largely deregulated capitalism in the US that is designed to keep profits flowing into the hands of a connected minority.
i think this whole situation is kinda like Looney Tunes Wild Coyote cartoon where he runs off a cliff, but keeps going on the imaginary ground because he hasn't yet realized that there is actually no ground underneath. The moment he realizes that...boom, express elevator to bottom.
Great talk. Milton Freedman was saying this in the 1970's. Most of these profectic lecturers come from economists. Every time since Adam Smith these men have been trying to show the sky falling. The do diligence of every man is the only answer. When we look to the world to save us. We become just a pet unable to feed our selves. Learn the world build your awareness make up your mind, be your own person. Read, read, read. It is up to us to scrutinize every power. When we believe without reading for ourselves. We are just as good as the blind being lead by the man with one eye. Great talk. There is soooooo much more out there we all need to keep reading, learning and building our own personal awareness. So we will not relinquish our freedom for so called security.
@A W You voted for it for years, and now all of a sudden you want to do something. I hate to break it to you, but it's too late for America. Our government will keep on running it into the ground regardless of who you vote for. All you can do now is take care of yourself, pop some popcorn and enjoy the show!
@A W Don't just leave it up to the politicians, we can make change ourselves within our daily lives, if the economy is failing then we must simply produce ourselves what money buys like food and water, start growing your own food and build a water supply, it is up to us as the people to help each other.
The honest truth is that we've been in a DEPRESSION for years. And now we're about to hit another recession that will make things even worse. Yet the gov't & media keep telling everyone how "strong" the economy is and how the raging bull market for stocks is going to last forever. They just keep kicking the can. 2012...today...same story. When the music stops, it will be catastrophic. The gov't stopped REPORTING the M1 money supply. Things are so bad, they're afraid to tell the truth.
With government you can expect and not be surprized that their 'modus operandi' is perpetual. The only difference is that the pile of BS gets stacked higher every day!
"When" is all everyone wants to know. "When" it's happening it is too late to prepare. Better to be (a year) early than (a day) late. Do you take out house insurance after your house has burnt to the ground?
It won't work eventually but until then it works like a chram. I knew and agreed w Schiff 100%, I stayed out of the stock market most of the past 5 yrs and lost hundreds of thousands of potential gain. I got back into the market 6 months ago and I have gained 20% return. Money in the bank is a loss, so it's flooding into asset bubble. Now the new generation has 28 trillions of national debt and houses that are crazy expensive. We screwed them big time.
Think about it for a moment. To whom do we owe all this debt? And where did the lender get the money from? This whole monetary system is a scam in which a few have the privilege to legally counterfeit money. Andrew Jackson knew and understood the practises of the banksters.
You people realize capitalism is a fake fiat based currency we tried, it failed to keep greed in check and it's time to move on right? Austerity is a policy choice, because our planet can't keep it afloat at 3+% GDP annually? Wake up people!
"The Fed lies about inflation." SO TRUE. Except for a very few staples (some of which are subsidized), everything I buy is up by more than the alleged rate of inflation. Some tech items are actually down in terms of what you get for what you spend, BUT: I buy a new computer about every 8 years, and I just recently replaced my 15 year old cell phone, so those few items don't help me much,
I think it’s too late in the game to find any physical gold or silver. It was getting scarce a year ago with 1-2 month waiting times after paying up front..
Its amazing how some of these fairly conservative projections on the state of the greater Western economies are still so relevant today which is really shocking consider this video is nearly a decade old. This will probably be still on point the month before the fiscal bubbles in the western world finally come crashing down.
Q I don't agree with the talking points The governor shut down Businesses Public schools Public transportation Churches Beaches Hotels and Disneyland Tourism SO THE JOBS AND BUSINESSES THAT GOT INNIHILATED...THE FAMILIES THAT ARE NOW HOMELESS AND LOST EVERYTHING 😕 SHOULD BE COMPENSATED...AND MORE STIMULUS MONEY IS NECCESSARY TO RESTORE WHAT WAS TAKEN BY THE GOVERNMENT....THAT WAS IN VIOLATION OF PEOPLES FREEDOM TO BEGIN WITH. Q
First apologies for my question ... and I hope somebody can answer me Who is lender of debts What is collateral ... How about writing off debt Who will be jailed for not paying What’s the motivation to pay off debts ... when printing money is the solution.
At the beginning I thought, mmm, okay, but now that I've watched the whole thing I can agree with you 100%, I think I'm gonna watch it again tomorrow lol
![Lp. Сердце Вселенной #60 РОЖДЕНИЕ ЛОЛОЛОШКИ [Финал] • Майнкрафт](http://i.ytimg.com/vi/YoR0pAV9FVQ/mqdefault.jpg)
I can’t believe this video was made 9 years ago. This man was ahead of his time. In 2022 we are facing the very same problem.
History sure does rhyme if it don’t repeat
@@3EBstudio I don’t think history is repeating itself. The problem never went away in the first place.
I hear a beat though, sounds familiar
Since 2008 the problem has only ballooned. He analyzed the issue and said no way this can continue for another couple years. But they were able to put band aids on it. But with COVID and all that NOPE that is the final nail in the coffi. We have 20% inflation now. Soon there going to have to raise the interest rates. Then thus whole BS economy comes tumbling down.
He was completely wrong. USD has greatly strengthened against the Euro.
Weird how this was 8 years ago and it sounds so relevant to today.
Exatly what i was thinking.
I actually didn't initially realise it was that old and thought it was recent.
I literty thought he was talking about the know until I saw this comment 😂
Peter Schiff was right (as usual)
Now is such a fitting time for this video. Even more relevant today than when this was made.
Damn bro beat me to it lmao. Fuckn truer now than ever
@@saltys5stargeneral541 Shit bro, you beat me to posting that he beat me to it lmao! It's only going to get fuckn truer!
@@iCanSeeWhatMostCant No way bro! You beat me to posting that he beat you to posting that he was beaten to posting it!
@@freddieg7131 🤣
No no no, damn bro you beat me to it..
10 years on, we're living through a silent depression that the government refuses to acknowledge.
the world has been in a controlled depression since june 1971. The people have lost control over their lives for generations to come. Just 'suck it up' and get ready for some long term hard times.
Well partly also, this would have been apparent and would have been more timely if "they" didnt prop the whole system up to put some distance between the dots if you know what i mean......
Yes! Sucks for the young growing up with this government incompetence.
The craziest thing of all is that people actually believe we should go to communism to “solve” the problem…..
They created it.
Yall should read up on the conspiracies 1900 the last president, project blue beam, and the decline of America these are pretty old but very similar even to which party was the minority in the house.
FYI it's everyone in DC that's corrupt they intentionally screw everything up than rig the election against a businessman from NY and the republic collapses after the corrupt takes the rigged presidency which would make Trump the last president setting up for the 2nd Civil war and Biden with a totalitarian dictatorship
Your a genius Peter. You have always been my favourite economic educator.
@@lyncarlson2448 stay safe and don't forget to wear your mask.
Wish I knew about him earlier. But glad I do now
This video is 8 years old, but yet more relevant that ever, with all the new debt and stimulus in 2021.
Now it's much worse.
Just wait til til the legislation for the Mint to be able to print a $1trillion platinum coin to give to the Reserve to help with further stimulus.
@@whoeverelse You feel the inflation, before you get the cheque. Or you get inflation and no cheque. Nice stimulus.
huh, he has been clearly proven wrong. America is not Greece. We can print money they can't.
@@plmainville the ECB (European Central Bank) prints money for Greek and hand it out as a loan with no obligation to pay back. Monetary stability is a joke, nowadays. The US is embracing inflation, as well as Greece and most other countries. Some more, some less, but all do it. The well-being of an economy is not determined by the amount of money they print, but by the goods and services they produce. So, he was right.
March 2021...I'm an American living in Greece and seeing both economies on the same track. Brilliant mind, brilliant forecast, brilliant video!
9 years later, nothing's changed x)
@@xX13Pwner13Xx Dollar is crashing, massive bubbles everywhere, political devide, civil unrest.
On the brink. Lead, silver, Gold, Food.
@@MercuryRisingFast How is it any different? Go ahead. i'll wait.
@@MercuryRisingFast So, no fundamental difference. Got it.
Has been terribly wrong for at least a decade. The US economy took off, no inflation arose, markets performed beautifully. Anyone who listened to Schiff or invested in his funds stayed poor. Schiff built a fortune on his ignorance and on his poor investors’ backs.
Is this really 8 years ago, that’s crazy. Life is really written.
Wont be surprised if they keep this BS going and people end up adopting Bitcoin on the long run case they realize trusting the system to fix itself is like hoping to winning the lottery.
"History does not always repeat itself, but it often rhymes"
Mark Twain
He knows his stuff.
its because the problem wasn't solved and the mistakes were repeated.
Where are all the trolls now???!!!
No matter how many time I watch this, I feel it can’t be watched enough, to ensure lessons are learned from Peters insights
Watching it in November 2021: The fact that Peter's videos make sense 10 years later is the proof that he is right. The more time goes on, the more right he is.
but he is too early
The fact that he was ten years wrong means he was entirely wrong. This is ridiculous: he didn't say "In 2021, the US will become Greece." This is from ten years ago he was totally wrong at that time. The US hasn't and won't become Greece because it has control of its own currency. It may become Weimar Germany but not Greece. Even a broken clock...
@Sleeping Dog What conditions today in the US (in terms of real impacts) are similar to Greece of 2011? We are so far away from that it's hyperbole to make this comparison. Going forward in the future, the US MAY be Venezuela or Zambia but not Greece.
More like Rome. Once world moves away from oil, petro dollar will lose as reserve currency. Then, we will be minting trillion dollar coins and USA will pay hefty price to pay expensive imports. Then, other countries will find it cheaper to USA to manufacture for their country.
Neat to go back and seeing the future being told.
I started listening to this without knowing the date of release, thinking it was done maybe 6 months ago. LOL....we are still doing the same shit...
And its still working
Same!!!!!! Wtf so surreal
Maybe it’s evidence that Peter’s assumptions about QE and Inflation are incorrect.
But the thing about predicting doom is, you never have to admit you’re wrong. You just have to keep saying doom is “around the corner”
Although Peter sounds really intelligent and his thesis might sound really good. he's been bearish on stocks since 2011. Not just bearish but Doomsday bearish.
That's 10 years of being wrong on the dollar, unemployment, missing the greatest bull market in the stock market. I give him due credit for calling the housing crash. But as an advisor he's lost clients a lot of money.
@@radiant_rj 9 years of predicting a crash that never happened, and he missed out on the biggest bull market in history. Sad.
Peter characterizes repeated over-stimulation of the economy like insulin resistance in metabolic syndrome. Brilliant!
Absolutely stellar talk by Peter- informative and brilliantly delivered and with humour included as a bonus. Hope to see Peter speak live some time.
This guy was decades ahead of everyone else
The brain is the most underused forgotten about organ in the human body at this point in history. Any moron would know what Peter knows if they actually had single thought of their own.
Not really, history just repeats itself. The fed has the most irresponsible policies they're is and when we no longer backed out money with precious metals we were all on a collision course with destiny.
GOD PLEASE DECREASE GOLD PRICE IT HELPS TO INCREASE JEWELLERY SALES IN INDIA 1700$ oz
@@lennybrewster4673 history doesn't repeat itself but it rhymes - Mark Twain (aka, Samuel Clemens)
Oh crap I thought it was More recent posts. I looked at the date and it's so relevant today in 2021.
He obviously didn't believe we'd go another nine years but now I fear that we're inches from the cliff.
Inches away? We off the cliff already homie, approaching terminal velocity. We just haven’t hit the ground yet
I am sure we have another 9 years or 2x9 or 3x9.
He's only been saying the economy will crash for nine years. I guess someday he'll be right. Bahahaha!
I agree, too much stimmy printed in the last year or so. May take a couple of years to manifest, but this isn’t going to end well
LMAO 💯💯💯
This is more relevant today than 8 years ago.
romiodens @ gmail com
GOD PLEASE DECREASE GOLD PRICE IT HELPS TO INCREASE JEWELLERY SALES IN INDIA 1700$ oz.
Excellent program learned a lot. Thanks for sharing. Stat safe.
NINE years ago.....funny thing is I do not believe he's wrong. Don't underestimate the government's ability and willingness to prop up a dead economy
he is still right.
The real crash is inflation.
I startedi lstening to this, thinking it was made recently, and was very surprised when I saw that it was made in 2012, almost 10 yrs ago!! That's crazy!! So relevant today!!
There is nothing new under the Sun. If it's one thing that is clear about humanity despite our intelligence. We repeat the same mistakes over and over again like a dog returns to its vomit
It's crazy how this applies to our lives today. This world is a scary place.
He ben saying this for 20years about time he got it right
Its called financial education which will never be on any education curriculum because you are not supposed to know how dark the financial world really is and know you are still a slave.
@@NoBoxingNooLife it’s been true for 20 years, they keep kicking the can down the road. Only way out is collapse (and revaluation of the dollar) or for the US to seize more assets (at home and abroad) and then reorganize the global economy around a usd based digital reserve currency probably along with massive amounts of govt owned housing to get enough capital to service the debt
@@derektomlinson6514 I’m in college & they teach this.
A stopped clock is right twice per day...this guy is a lucky clown who now pontificates like he has the intellect & proven predictive abilities of Michael Saylor.
Peter Schiff has completely changed the way I think about economics.
I used to think the economy's well being was primarily determined by the government's fiscal policy. Now I realize that the central bank's monetary policy is just as important, if not more so.
His insight that the interest rate should be determined by the markets themselves, has really opened my eyes.
@@lyncarlson2448 What a blast from the past. When I wrote this comment I was at the very beginning of my journey into economics. Many things have changed since then, but the realization that central banks have distorted our economy and set us on a path to a much greater financial crisis is still valid.
I wrote a piece on LinkedIn that caught the eye of one of the Rothschilds...
I asked the question...
Would you rather have £10,000 now or in a year?
Then I asked, what if it was £10,000 now or £11,000 in a year?
That is how we arrive at interest rates. The time preference of money is its interest rate, and that varies for different people, at different places and different times.
The average (mean) is the market rate.
There's your market.
50:15 "So, who knows, eventually be might need to borrow 1 trillion or 2 trillion!!, just to keep the pony economy afloat" => LOL 2021, this guy saw it 9 years earlier, holy Sh***
I thought your avatar was a hair on my screen and I kept trying to swipe it off lol
@@calvinvastelli6792 yep me too. tried to brush my eye lash off haha
Yet, there are thousands of people screaming "how wrong he is, how he always warns of crises that never come and eventually he might be right one time". I mean, are those people for real? WHENEVER central bank starts printing money (and gives it honorable names such as QE, asset purchase program etc.) it just proves that he is right. Instead of having crisis in one area, central banks hide it by money printing into the loss of purchasing power.
Thats a long ass wait😂
@@jisskk28 just long enough to get your head in gear and buy some commodities
Damn. This guy, Jim Rogers, Jim Rickards, Ron Paul, and Mike Maloney are all being proven right...They could see the economic/fiscal problems years before they happen.
Mike malooney secret history of money changed my life.
Lol they just sit predicting
It’s just cycles. And we aren’t the first people to have a corrupt government and media that doesn’t speak the truth
I think that Peter underestimated the ability of the government to delay the collapse. But I think it is just around the corner now.
Still holds true 9 years later.
Best video I have seen in such a long time.... Speech could have been made this morning and all would still be relevant
He's been wrong for eight years dude lol
@@philpottkentucky4802 he's right for 8 years doofy.
Question. At 30:35 he presents the question - why can't the fed just keep interest rates low forever. His answer is that the fed can't do that because the markets won't allow that to happen. Can anyone explain this further? The fed right now is keeping interests rates low and the markets are hitting all time highs every week.
He can explain complicated economic problems in simple terms so that layman can understand,, salute him
Yes, salute
Love you Schiff..
You are brilliant!!! You should be president we need more level headed realistic thinking like yours 🙌
Love watching Peters enthusiasm for Gold, I decided after watching some of his podcasts to invest in a little and finally feel more secure long term.
Oh wow I thought this was a recent addition. Peter was always right
It takes years to collapse everything ladies and gentlemen. So easy to understand! I am now 50 years old and lived enough crazy times to know that the coming economic depression will be super brutal for millions. Especially the sheeple sheep 🐑 lost losers. Shopping dating 5 Marriages buying big screen TVs Nike’s casinos unhealthy fat lazy people. 😎
@@nightowl6811 you don't hold it...you don't own it
He was wrong
@@acommentator69 your wrong
He is right like a broken clock is right twice a day 😂😂
Greece lost a large portion of its tourism industry when they joined the Euro and everything became expensive.
How long ago are we talking about
@@DJ_Ichiyo From 2002 when Greece started using the Euro.
Greece and Germany can't be under the same currency because they have two vastly different economies. Greece exports olive oil, Germany exports highly engineered machinery. The Greeks blew all there stimulus money on early retirements and crazy pension plans. Now their kids are paying for it all. 40% unemployment rate for those 18-35. Then the ones who do work only make 700-1000 euros per month. Obviously the Greeks, portuguese, Spaniards and Italians should be an economy based on their own production. But those economies won't be as productive as the Germans and french.
I literally just listened to this and 1000% agree and I then I realize at 51:07 that this is 9 years old! Can I meet this guy and shake his hand just becuz these are the people that I want to run the world. Not these sick mid evil ass bloodlines. . Don’t let that go over your heads. But this video is spot on.. even right now
Hello from May 2022 and maybe it’s this time for sure for sure!
That was good! Jumping out of the frying pan into the fire!!!. You made me laugh... Thanks for that! 👍👏👏👏👏👏😀
this is the best lecture from Mr.Sichiff i've seen so far.
romiodens @ gmail com
wow... 8 years later and still relevant, cept rates still are 0 anand fed is keeping it rolling
The Fed goes, Brrrrrrrrrrrr all day long.... As the media sings and plays along.....
Here comes the shit storm
Shit storm in progress..
@@19phift4 At least toilet paper is in stock, right now.
@@ericblust5923 we're knee deep in a socialism
Quite astonishing. Years ago and still so true as it was in 2012. Kind regards from Germany!
Why does this video keep popping up on my auto play? I've already seen it Luke once a week.
Anyway I can't believe how accurate this presentation was.
Peter being right in 2022 is humbling . This guy knows
Everything he said has become a reality in 2021. You should download and spread this video to everyone you know.
He sure did swing and miss on Bitcoin
@@MikeyD203 Watch at approximately 24.30 where he talks about Facebook..same thing with Bitcoin.
@@diabolicaldebbie no thanks.
ShadowStats just recently updated their U6 Unemployment numbers and they estimated that slightly over 25% of working-age individuals (over 1/4th!) aren't working. I'm normally an optimist, but the near future is looking pretty grim...
"Letting the market decide the price of money, ie interest, like it does all prices."
I love this analogy and intend to use it frequently-- anyone who's taken a crash course in Economics can understand it. Schiff, you're my hero :D
Yeah right. That’s why value investment stocks works so well for people. 🙄 This guy will catch your attention if your 20 or new to markets. The rest of us now that this is a kindergartener being sent to understand the real world.
@@apove1814 says every npc in an obvious bubble
@@apove1814
And some of us know how to spell know.
Thank you Peter once again. I try and try to get my parents and Wifes parents listen to you. All they say is "I hope he is wrong". Are you kidding me. You are reaching people and keep being the patriot you are.
Nothing ever changes
Borrow from whom??? Why do you guys never talked about that? Who are the government borrowing money from?
Brilliant as always Peter!
Except for the fact that it turns out he was wrong.
@@albertfeynman492 wrong ?
@@albertfeynman492 Still in denial, comrade?
@@alexnezhynsky9707 With the economy shut down and USA printing Trillions of dollars why aren't we Greece yet? Why are prices stable/no inflation? Where is the chaos. It would seem YOU are in denial, no?
@@ramprasath3346 Yes. Dead wrong. Economy has been shut down for how long now? And the USA continues to print Trillions yet all prices remain stable. Individuals and businesses getting bailed out and everything is moving along fine. Why hasn't price of gold sky rocketed? Why hasn't the value of the dollar dropped?
Who's doing the lending to all of the governments?
Define: "CENTRAL BANK"
Why didn't he mention who specifically?
Isn't it fair to say that if someone or something is lending $ to governments, the same CONTROLS those same governments?
🤔
The whole country is drunk. Classic
World -- and they sit at the same table drinking and deciding what you do to get a digital currency replacement for cash.
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@@milarjack5516 why not keep it secret then scammer
GOD PLEASE DECREASE GOLD PRICE IT HELPS TO INCREASE JEWELLERY SALES IN INDIA 1700$ oz.
I come back and watch this again and again between new podcasts.
Very Informative And Helpful Thank you
Peter rocks.
If I would be in his shoes i'd be depressed by how few (in comparison ofcourse) people listen, i'd surely get depressed after couple of years.
He never wavers to spread the sanity despite all this.
I live in The Netherlands, about to graduate from college. Surely i'l put my future saving in gold, because both the euro and the dollar are doomed because of the massive stimilus / borrowing.
I was just listening to this while gaming.
I thought it was current because it is so relevant to the economy now.
DITTO. Alarming.
Same here. My mind for some reason autocorrected 2012 into 2020 and i thought oh well, its about a year old, but still seems accurate enough.
Its actually more relevant now than in 2012
Except that we've moved to harder liquor. We're now chugging pure straight liquor by the bottle.
Schiff: "The most important price is the price of money." (i.e., interest rate for borrowers).
This may be the best video that I have seen on economics. See 32:18.
------ The economy is distorted because interest rates are too low.
How to explain the Marshall plan then ? Unnecessary stimulus?
They have kept the game going but it sure feels like the end is near.
I thought It was made yesterday!
3:53 - Decimated the U.S. economy? Peter! The money doesn't disappear. It goes into someone's pockets, which of course is the REASON that they want to continue to borrow! When you have a credit card that someone else must pay off, what incentive is there for you to stop purchasing the things that you want?
Right. This guy receives heaps of praise in the comments, yet comes off every bit the croney capitalist as the big players pillaging the treasury. The massive corruption in politics doesn't factor at all into his analyses. He disses "socialism" at the end, which reveals his monolithic understanding, or ignorance, of democratic socialism, which could be defined as regulated capitalism - contra the largely deregulated capitalism in the US that is designed to keep profits flowing into the hands of a connected minority.
i think this whole situation is kinda like Looney Tunes Wild Coyote cartoon where he runs off a cliff, but keeps going on the imaginary ground because he hasn't yet realized that there is actually no ground underneath. The moment he realizes that...boom, express elevator to bottom.
👍
Yes!!! Lol
this video was published in 2012 but it seems made in 2021
Great talk. Milton Freedman was saying this in the 1970's. Most of these profectic lecturers come from economists. Every time since Adam Smith these men have been trying to show the sky falling. The do diligence of every man is the only answer. When we look to the world to save us. We become just a pet unable to feed our selves. Learn the world build your awareness make up your mind, be your own person. Read, read, read. It is up to us to scrutinize every power. When we believe without reading for ourselves. We are just as good as the blind being lead by the man with one eye. Great talk. There is soooooo much more out there we all need to keep reading, learning and building our own personal awareness. So we will not relinquish our freedom for so called security.
wow you could play this video today and you wouldn't know it was from 2012
Bruh, I was mindlessly eating cereal with banana and looked at the date. THIS SHIT IS HAPPENING NOW! Not exactly the same, ITS WORSE.
Yup. We're looking at a possible collapse this time because our fiat system is 100% guaranteed to eventually fail.
saying bruh makes you sound stupid
@@JeriDro Your name is DreamWarrior you cornball
@@bigl3242 Bruh isn't a word smart people use.
Long live the word "Bruh"
Oh well, it's almost 2021. How long can the gov. hold? If the dollar goes away with BitGold, how the housing market will look like?
I think this is the single most articulate and comprehensive speech that Peter Schiff has given.
Every stimulus pushed up prices
Mmm how had shares or stock in that
Thank you.
57 minutes of brilliance
romiodens @ gmail com
AND here we are in 2021 and still printing money and taking MORE EBT.
More debt is awesome!
@A W You voted for it for years, and now all of a sudden you want to do something.
I hate to break it to you, but it's too late for America. Our government will keep on running it into the ground regardless of who you vote for. All you can do now is take care of yourself, pop some popcorn and enjoy the show!
@A W Don't just leave it up to the politicians, we can make change ourselves within our daily lives, if the economy is failing then we must simply produce ourselves what money buys like food and water, start growing your own food and build a water supply, it is up to us as the people to help each other.
@Benson Hedges That's cool. I'm ready to buy the dip! I got my ticket to the moon! 🚀🚀🚀
@A W It was probably "great" for a few decades for white people lol
other than that it's nothing to write home about
Excessive spending on the military? Corporate taxes too low? Billionaires paying a lower percentage of tax than a teacher? Living beyond who's means?
Boy , oh boy....is he right on for today !
GREAT VIDEO PETER!!!
You are correct! And it's still great 8 years later!
Terrible video. I made a ton of money in the stock market the past 8 years.
The honest truth is that we've been in a DEPRESSION for years. And now we're about to hit another recession that will make things even worse. Yet the gov't & media keep telling everyone how "strong" the economy is and how the raging bull market for stocks is going to last forever. They just keep kicking the can. 2012...today...same story. When the music stops, it will be catastrophic. The gov't stopped REPORTING the M1 money supply. Things are so bad, they're afraid to tell the truth.
This ages amazing well. Just closer to financial d-day.
With government you can expect and not be surprized that their 'modus operandi' is perpetual. The only difference is that the pile of BS gets stacked higher every day!
I didnt see it was 9 years old video, I thought it was recorded last week.
Me too LOL I was surprised to see Peter so young
@@helmutha5589 i was referring to facts talked about
"When" is all everyone wants to know.
"When" it's happening it is too late to prepare.
Better to be (a year) early than (a day) late.
Do you take out house insurance after your house has burnt to the ground?
It won't work eventually but until then it works like a chram. I knew and agreed w Schiff 100%, I stayed out of the stock market most of the past 5 yrs and lost hundreds of thousands of potential gain. I got back into the market 6 months ago and I have gained 20% return. Money in the bank is a loss, so it's flooding into asset bubble.
Now the new generation has 28 trillions of national debt and houses that are crazy expensive. We screwed them big time.
I've come back from the past to watch this video about the future that was produced in the past.
Thanks and Respekt!
Now I completely understand the Pandemic Theatre.....
Nice video of Ubud. It brings back great memories!
Think about it for a moment. To whom do we owe all this debt? And where did the lender get the money from? This whole monetary system is a scam in which a few have the privilege to legally counterfeit money. Andrew Jackson knew and understood the practises of the banksters.
He’s right. He knows what’s wrong but doesn’t know when the end comes, but he knows like we do, it’s coming
I wonder how long until Biden's 1.7 trillion stimulus comes back to bite him on the ass....🤔
@@clifffowler2581 I have a feeling that will happen sooner than most people think.
@@m.woodsrobinson9244 I believe you might be right...... and no doubt the effects of it will be watered down by the msm.
You people realize capitalism is a fake fiat based currency we tried, it failed to keep greed in check and it's time to move on right? Austerity is a policy choice, because our planet can't keep it afloat at 3+% GDP annually? Wake up people!
This was 9 years ago and he ended up being dead wrong, but ok. lol
He was always right, just very early. But after this empire collapses, history will not think another couple of decades was very long in hindsight.
Crazy. This was nine years ago? It sounds just like today only it’s probably more ludicrous than schiff was even anticipating it could get.
Amazing video, really shows one of the many risks of "groupthink".
Spot on as always.
romiodens @ gmail com
"The Fed lies about inflation." SO TRUE. Except for a very few staples (some of which are subsidized), everything I buy is up by more than the alleged rate of inflation. Some tech items are actually down in terms of what you get for what you spend, BUT: I buy a new computer about every 8 years, and I just recently replaced my 15 year old cell phone, so those few items don't help me much,
MSM censorship and lies. The collapse of the US economy is the goal.
Seems more relevant today that ever.
Buy gold
I think it’s too late in the game to find any physical gold or silver. It was getting scarce a year ago with 1-2 month waiting times after paying up front..
@@ScuffyMelbourne google ‘bullion dealer’
@dylans65amg LOL Gold is finite and real money. You can create as many crypto as you want and it doesn't any intrinsic value.
@Isabel Livieva If people started using crypto in day to day transactions why not use ethereum o other crypto?
@Isabel Livieva Gold is worthless. It has zero utility. At least silver has utility. But in a crash, the rush to liquidity sells everything.
I believe this video can be played for the next 100 yrs and it will still feel like it yes just uploaded a day prior. Nothing has changed.
Now we have the CARES Act, what will we do when we stop.
Its amazing how some of these fairly conservative projections on the state of the greater Western economies are still so relevant today which is really shocking consider this video is nearly a decade old. This will probably be still on point the month before the fiscal bubbles in the western world finally come crashing down.
And the talking heads of the fake news will all say that nobody could have seen this coming.
In the history of the world, there has never been a country as BROKE as America is.
except for like... 3rd world countries all over the planet but yeah i feel you lol
@@abelmindead9462
I can't argue with an economic genius like you.
America is as Broke as it's Woke.
@@abelmindead9462 3rd world countries with more potential than America though.
Rome, this is one of the main reasons Rome fell. They debased their currency.
Would love to hear any additional thoughts you have.
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Q
I don't agree with the talking points
The governor shut down
Businesses
Public schools
Public transportation
Churches
Beaches
Hotels and Disneyland
Tourism
SO THE JOBS AND BUSINESSES THAT GOT INNIHILATED...THE FAMILIES THAT ARE NOW HOMELESS AND LOST EVERYTHING 😕 SHOULD BE COMPENSATED...AND MORE STIMULUS MONEY IS NECCESSARY TO RESTORE WHAT WAS TAKEN BY THE GOVERNMENT....THAT WAS IN VIOLATION OF PEOPLES FREEDOM TO BEGIN WITH.
Q
First apologies for my question ... and I hope somebody can answer me
Who is lender of debts
What is collateral ...
How about writing off debt
Who will be jailed for not paying
What’s the motivation to pay off debts ... when printing money is the solution.
I love how Peter always uses metaphors.
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At the beginning I thought, mmm, okay, but now that I've watched the whole thing I can agree with you 100%, I think I'm gonna watch it again tomorrow lol
You should watch it again today. 😃
lol for a minute there I thought I was listening to something that was a week or month old untill I looked ar the date cuz he looked a bit younger.
Most people don't know or remember the 12% interest rates of 1980. What if they jacked the interest rates up to that now?
The government would cease to exist
In 2008, the Fed should have let the banks fall, but then, I had much more to lose than I do now. I wasn't ready.