Peter Schiff and Steve Hanke Debate Inflation, Debt Crisis, Dedollarisation
Вставка
- Опубліковано 22 тра 2024
- Steve Hanke, Professor of Applied Economics at Johns Hopkins University, joins Peter Schiff, Chief Market Strategist of Euro Pacific Asset Management, to debate their inflation outlook, causes of inflation, future of monetary policy, economic growth outlook, and interest rates.
*This video was recorded on May 10, 2024, not May 9, as it erroneously states on the video
Listen on Spotify: open.spotify.com/show/510WZMF...
Listen on Apple Podcasts: podcasters.spotify.com/pod/sh...
FOLLOW STEVE HANKE:
Twitter (@steve_hanke): / steve_hanke
Email: hanke@jhu.edu
FOLLOW PETER SCHIFF:
Twitter (@PeterSchiff): / peterschiff
Instagram (peterschiff): / peterschiff
TikTok (peterschiffofficial): / peterschiffofficial
The Peter Schiff Show: / @peterschiff
Schiff Radio: schiffradio.com/
Euro Pacific Funds: europacificfunds.com/
FOLLOW DAVID LIN:
Twitter (@davidlin_TV): / davidlin_tv
TikTok (@davidlin_TV): / davidlin_tv
Instagram (@davidlin_TV): / davidlin_tv
For business inquiries, reach me at david@thedavidlinreport.com
*This video is not financial advice. The channel is not responsible for the performance of sponsors and affiliates.
0:00 - Intro
1:47 - Inflation outlook
18:35 - Fed monetary policy
29:00 - Causes of inflation
36:40 - Economic growth outlook
52:50 - Investment implications
55:10 - Dedollorization
56:55 - Bond yields outlook
59:50 - Bitcoin
1:00:56 - Peter Schiff
1:02:06 - Steve Hanke
#economy #inflation #investing
Who do you agree with more on the outlook for inflation? Discuss in the comments below and don't forget to subscribe!
FOLLOW STEVE HANKE:
Twitter (@steve_hanke): twitter.com/steve_hanke
Email: hanke@jhu.edu
FOLLOW PETER SCHIFF:
Twitter (@PeterSchiff): twitter.com/PeterSchiff
Instagram (peterschiff): instagram.com/peterschiff/
TikTok (peterschiffofficial): www.tiktok.com/@peterschiffofficial
The Peter Schiff Show: www.youtube.com/@peterschiff
Schiff Radio: schiffradio.com/
Euro Pacific Funds: europacificfunds.com/
Schiff
Schiff.
Schiff won. Hands down
Peter.
Quick point: Oil causes inflation-like symptoms in the economy. Oil prices going up are not inflation, true. But if you have a big rig full of goods and you 10x the price of diesel that’s in the truck, all those goods just got way more expensive. Oil is the only commodity that has inflationary-like properties from how it is utilized in every single thing you perceive today including being the production material for many goods.
He disagrees with Schiff then ends up saying exactly what Schiff says and agrees with him. 😂
Schiffty 😅
He doesn't seem like he is too good at critical thinking. It's more like a simpleton regurgitator with a hearing problem.
Panky is lagging 😂
Typical professor: Exactly right to the point of missing the point. Peter was fairly well behaved today and managed to steer the conversation back to the general problem... the problem isn't something we are going to solve by doing what has been done. The "modern" market / economy is an ongoing experiment.
I think they confuse themselves by having different meaning of what "inflation" is. Peter thinks inflation means increase in the money supply, Hanke thinks it's the increase in prices or CPI. These are different things. Peter says we can have temporarily low CPI and still have inflation because the money supply is increasing.
Dr. Henke is wrong..... it is a perfect example of an academic vs a person dealing with the economy.
Yeah Hanke is living in a bubble , his wife does all the shopping utherwise he would know that every week when he buys food the price is higher !
Well said…. I commented the same thing. These professors are all alike….I know too many of them. A person who on the ground floor working with the people is far more accurate than a philosopher.
Hanke just rambled on and on and on... Peter was spot on and won handedly.
Yet still wrong on BTC after all these years. It hit $1 million and he'll still say it's a scam.
Schiff is redefining words to fit his narrative and says every measure from the government is faulty. Peter says he knows better. It’s very hard to debate someone that doesn’t have an economy degree and spews non-facts and makes up his own meanings for words.
@@bobbylazar Nope he's spot on. The true definition of inflation is not prices rising but the money supply expanding.
@@bobbylazar This doesn't seem persuasive when considering the words in question are complex terms that have significant errors in measurements and long standing controversies in use and definition. It's not like these are bland words or measures being redefined in a sneaky way. And of course, government measures are faulty and inconsistent. Surrogates and alternatives are sorely needed. Lastly, re: the economics degree credentialism, how about asking which of these 2 has had better success in predictions? Given how many econ profs and degree holders were wrong about inflation and the economy as a whole in the recent past, why should degrees be considered to have significance?
@@joemcdermott1213 well if one says the data is correct and the other say data is corrupted it’s hard to find a way forward in a discussion. Who should have precedent deciding what is objectively correct? I believe it’s better to draw conclusions from data than just saying the data is wrong and “I know better”. I wouldn’t say Peter’s been correct the past decades, he has been advocating for gold the last 30 years and gold has been a terrible performer in comparison to the stock market. Credibility should be given to the one who rely on data and from that draws conclusions, not to the one saying data is wrong, don’t rely on data, I know better.
As a young guy who has no idea about economics, Peter makes more sense in a simplified way of understanding it.
And he's completely leaving out any critique of the system. I mean the entire system not just a part
How do you do, fellow kids?
They are both good. Hanke understands how an honest system should work and the drivers. Schiff understands how an honest system is manipulated and misreported.
And yet. He’s been wrong with his calls for around 10 years 🤣🤣
This means FED is doing its job well, don't stop until job is well accomplished
Gotta love Hanke confidently saying “you’re wrong” when he is clearly wrong
Inflation is caused by increased money supply. What is there hard to understand or wrong?
@@jhutfre4855inflation is the act of increasing the money supply, it is not a result
Hanke has to be deep staye because he can't be this stupid. If he is this stupid then this explains alot.
The professor is living in La La land. When you add SSN / Medicaid we are 80 trillion in debt. Peter knows this is an impossible situation.
Yes the unfunded liabilities are huge. The states have $100T of their own liabilities, SS has $100T liability, and Medicaid has $100T liability...that's $300T on top of and added to the $34T debt.
Yes
300 tril derivative z
That's academics for you. I was arguing with my professor. During my economics exam, I answered, giving my personal opinion that academic theories won't work in real life and why.
He gave me minimum marks, saying this is university and should be answered according to academic books and not personal opinion. After that, I stopped attending lectures.
What's fucking point going into university? just to read some books? I can do it myself at home. Technical schools are way better than colleges.
I feel sorry for the studenrs prof teaches...he is like a government employe
The introduction of a Bitcoin ETF marks a groundbreaking moment in the cryptocurrency world, merging digital currencies with traditional investment methods. This innovation could stabilize Bitcoin prices and broaden its appeal to a wider range of investors, potentially increasing demand and value. At the heart of this evolution is Sarah Jennie Davis, whose deep understanding of both cryptocurrency and traditional trading has been instrumental. Her holistic approach to investment and commitment to staying abreast of market trends make her an invaluable ally in navigating this new era in cryptocurrency investment
The wisest thought that is in everyone's minds today is to invest in different income flows that do not depend on the government, especially with the current economic crisis around the world. This is still a good time to invest in gold, silver and digital currencies (BTC, ETH... Stock)
How please I'm pretty new and feel I have much to learn, I would appreciate if you show me how to go about it?
She is really a good investment advisor. I was privileged to attend some of her seminars. That is how I started my crypto investment
I have heard about her excellent trading expertise in CNBC news, guess she's more popular in United States
I thought I'm the only one that knows her well I guess her good reputations speaks for her now
Our economy struggling with uncertainties, housing issues, foreclosures, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.
With the US dollar losing value to inflation and other currencies gaining traction, uncertainty looms. Yet, many still trust in the Dollar's perceived safety. Worried about my $420,000 retirement savings losing value, I seek alternative security for my money.
With my demanding job, I lack time for investment analysis. For seven years, a fiduciary has managed my portfolio, adapting to market conditions, enabling successful navigation and informed decisions. Consider a similar approach.
Your advisor seems competent. Could you share how I can reach out to them? I've recently sold some property and am interested in investing in stocks, and I'm seeking guidance.
Monica Shawn Marti is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
Wow, her track record looks really good from what I found online. I'll take a chance and see how it goes. Thanks for the info
Never seen Hanke and Schiff in a debate. That in itself is a compliment to David Lyn resulting in a very good discussion . Well done David !!!👍
Peter won this easy🏆
I enjoyed listening to Professor Hanke too but he’s one of those types that when you say, “Tomato”, he says, “ your wrong-it’s Tomatoe”
So, Hanke is right.
I asked for this wish 9 month and now i finally get to see them debate thank you so much david
Peter for the win.A real life person out in the world doing field work apposed to an in-house academic.What is the point of having professors in economics if they can only tell you what’s happening now and their knowledge can’t predict what’s going to happen down the road?Saying the US dollar is strong because you compare it to other fiat currencies isn’t quite right, the US dollar is getting weaker by the day.
Their job is to mislead you and keep you ignorant so that a small group continues to steal the world’s resources while the rest of humanity languishes.
Prof. Hanke is anything but an "in-house academic". He has been advising governments for decades. He has stopped hyperinflations, by setting up currency boards or dollarizing economies. One example would be stopping our hyperinflation in Bulgaria.
It appears that I am in the minority here. I find the truth in the middle, between Peter and the professor. For example, I agree with Peter that the statistics are not correct, however he was completely wrong about the course of inflation in the last year and I do believe he is wrong for the next 12 months, too.
because the government drained the oil reserves? how’s that going right now? gas prices are on their way back over 4 dollars a gallon even with wall street doing everything they can to short oil prices
@@lrevengek prof Hanke isn’t capable of telling us what is comping down the road.Peter told us what was going to happen before the GFC and told us exactly what the Fed and the Government would do after the GFC.Peter told us there would be more QE than Rocky movies and that they would never be able to stop,he told us inflation was coming before anyone else did and he has told us what is coming we need to listen.Hanke doesn’t even understand inflation properly because he is a product of the universities.Peter is able to think for himself he sees the real world better than any university professors because he hasn’t been indoctrinated.If you want to know what’s coming listen to Peter Schiff.
😅😅😅😅😅😅😅😅😅😅😅
Man I’ve been following Peter for 10 years. He just makes so much sense when he talks. He always performs and you gotta respect that. He wins the day.
You are so right
You are so right
You are so right
Thank you David for putting this debate together! Hanke is a an academic guy, and, I’ve always believed his input always comes from fake data which he believes is true data. Couldn’t wait for Schiff to counter all of Hankes ideas with common sense knowledge! Schiff for the win!
Schiff is redefining words to fit his narrative and says every measure from the government is faulty. Peter says he knows better. It’s very hard to debate someone that doesn’t have an economy degree and spews non-facts and makes up his own meanings for words.
@@bobbylazar I get that you’re coming from an economists point of view, who has a degree in that field. But, a lot of what Hanke says in his interviews hasn’t matched the reality of the real world. Also, in my opinion, you don’t need a degree in economics to see what’s really going on, and what’s in store for the future. I myself, don’t have an economics degree, and I’m not saying I’m an expert in it, but I think common sense would tell you that everything we’re seeing in the real world is what’s really going on. Most of these academics, obviously don’t live in the real world, and see what the majority are experiencing. Just my opinion. Thank you for your friendly feedback.
Interesting debate. Other than the future of the Dollar, they seem to agree on most things. Bottom line is bad news.
@@marcfd3756 I’m in total agreement with you. Bad news is the most likely outcome. Thanks for chiming in. It’s good to have these friendly debates. Always good to hear people’s opinions. That’s how we all can learn and make our own decisions that we feel will benefit each and every one of us. 👍
@@jasonaono7767you don’t need a degree in economics to understand how the system works. At least to a fair degree. I don’t think anyone knows exactly what’s going on in the economy. To many variables and things going on that can’t be seen. There are derivatives on top of other derivatives and probably more. The economist are always wrong or they lie constantly.
It was nice listening to a real economist for once. Thank you for having Peter Schiff on. 😊
Im with schiff. Awesome you had these two gurus on together.
Nobody can argue with Peter Schiff ❤
Because he's obnoxious or right? I'd say the latter. He's been wrong on BTC for YEARS!
@@d.fenestrator9529 yes, former.
@@d.fenestrator9529another sheep here folks
@@d.fenestrator9529 maybe but everyone said he was wrong about the debt crisis than bam its here!
Harry Dent 🤣
This is one of the greatest things in the internet, thanks for this debate.
I'm getting the vibes that Hanke kept telling Peter that he was wrong alot during the debate as if he was trying to intimidate or try to let Peter and the viewers believe that he is the most dominant and knowledgeble individual in the debate.
He is clearly used to only dealing with students
I could never take his class. He is so arrogant and annoying and condescending. He may be academically intelligent, but he is an absolute imbecile in terms of social and emotional intelligence.
Hanke can’t criticize the state in which he reaps from
BINGO.... it was so frustrating to listen to his bologna.
Peter has been calling for a total crash every two years for the past 15 years. Allow me to be with Hanke on this one, the guy called to top of inflation well before it reached the top
Peter: Grass is green!
Henke: You're completely wrong! Is a mix of blue and yellow!
Peter ruled... again.
Hanke reminds me of every arrogant college professor i ever had the misfortune to experience. He is an economist an an economists job is to project the future yet he says he doesn't have a crystal ball, which is a total cop out. I love how Peter is a cool customer in response to Hanke patronizing responses. I'm not sure if Hanke's message is good or not because he lacking as a messenger. Now I'm curious how his students rank him as a professor. Time to take a look.
Won’t make predictions and then he predicted a recession in 2025😂
I like hanke though. He does have a good handle on how the economy works and have learned a lot from listening to him. I really only follow him and Warren mosler since they are opposites. By not just agreeing with schiff, it made the debate better.
lol especially economics professors they are always a different breed
Indeed, if a science has No predictive capability, its simply wrong. For instance, if I quadruple the money supply via money printing or loan issuance, prices will move up. We can predict that. If all of a sudden we can print cars on the cheap, the price of cars would go down. What hanke is probably doing is he is making his own moves and then just not letting us know.
Peter shift owned the professor!!
Schiff is redefining words to fit his narrative and says every measure from the government is faulty. Peter says he knows better. It’s very hard to debate someone that doesn’t have an economy degree and spews non-facts and makes up his own meanings for words.
@@bobbylazarnope you are wrong, perer is absolutely right to question the ruler with which they measure the change in cost of living.
@@askeladd60 sure, you keep buying gold. GL
@@bobbylazar ofcourse the government numbers are fudged but it's how they choose to guide the economy. The real question is where do they plan to guide it. Either a soft landing or a great reset😅 hard to say
@@bobbylazar I think Peter has a degree in economics from UC berkeley.
I love it when he said "ok, forget about the dictionary"
Lol, 'OK let me just make shit up for a second'
"The cause of inflation is a monetary phenomenon..... caused by the hands of government." -Milton Friedman.
And velocity of money …..
U can borrow 1 billions but if u don’t spend it u don’t create inflation.
People always forget that second part ….
@@sivi9741and say byebye to those welfare programs like SS, Medicare and Medicaid benefits because govt cannot sustain in funding due to debt w interest.
The cause of inflation of a balloon is the addition of the amount of air injected into it.added to what is already there which causes it to expand. Likewise, the cause of inflation in the economy is the injection of money and credit into the existing money/credit supply .
@@sivi9741 why wwould you borrow it with interest if u have no interest on spending it?
@@sivi9741 The inflation (expansion) is the borrowing of the 1 billion. The consequence of inflation i.e. price rises is a result of spending the 1 billion.
David has set the standard very very high.
Peter for the win. Difference between a professor and a business man in the real world.
Wow peter smoked this guy.
Inflation is always and everywhere a monetary phenomenon.
They both agree on that
One of your best interviews yet David, do this again if you can
Wow! Hold up, I’m gettin the popcorn before I start this one…
Great work @DavidLin for putting these two legends together! One of the best interviews I've seen in a long time!
Peter is the King.
Jesus is king
Long live Peter the King!!
David, thank you for bringing together two amazing advisors. ONE suggestion, let each one answer fully before the other jumps in arguing. I enjoyed this interview immensely!!!
Hanke follows a theory with one driver of inflation while Schiff considers a broader range of inflation drivers. I respect both and am uncertain who is right. In, say, 10 months or so we will know who the winner of this debate was. It will be significant for our understanding of economics. Another outstanding David Lin production.
Replace inflation with "price increase" in your comment and you are right.
inflation is caused by only 1 thing which is creating money but prices go up (and down) for million different reasons
Peter Schiff and Steve Hanke are the best of the best. Gentlemens and Humanists.
im Japanese and western economist always says how japan didnt have inflation without actually living in japan. but simply by looking at fake figure created by Jaapnese Govt. ,but that is absolutely incorrect. Japan indeed had bad enough inflation in real street, and the last few year was an absolute inflationary disaster. many ppl can not afford basic needs like the ppl in the west. some aspect of inflation was suppressed due to the amount price competition there is in Japan. otherwise inflation is as bad in Japan just like the west.
Japan was one of the most expensive place to live in the world in 1990 .
Not anymore for a foreigners .
However, Japan had the longest housing deflation until recently but since the 90s.
@@noellecms true. I remember that soon after the bubble burst in the 89 the real estate was no longer considered an investment opportunity.
That's just WEF.
Is there general inflation in Japan now or are there plenty of affordable things like transport or home heating or food or PlayStations (or Toyotas)?
How is the jobs market in Japan?
THANK YOU for having Peter Schiff on! I've been waiting for this day to happen.
Professor Peter Schiff. Absolutely wiped the floor with hanky. Didn't realize how smart Peter is
Peter is the clear winner in this debate. Steve is brilliant, but is just too status quo when it comes to the monetary system.
This was amazing for real life economists 💪
Great debate (even though they are really on the same side).
Maybe this is why we are so messed up. Two great men are disagreeing, but they actually agree in so many ways.
Both "Austrian Economics" men are both giants and have so much going in their direction.
While the opposite Keynesians print, print, print and inflate the system to destruction.
There is no center.
David, thank you for bringing these two together here for the viewers, I really enjoyed the video. Peter and Professor Hanke are in agreement on everything, just some nuances here and there. Also, I hadn't seen that Jared Bernstein video before, I'm speechless...
Peter is a true gentleman. Made his points diplomatically.🏆 Peter 🏆 wins. 🏆
I'm with Peter on this one. We are living in unprecedented times.
He has been saying the same TRITE doom n gloom BS for 30 years none of his bitter angry anti-American grudges came even close to reality...he is an old frustrated bear
@@Arteshir I am actually pro American, as I support the Constitution. I am just anti what the government and Fed have done to this country. I have seen for decades where fiscal and monetary excesses would lead to, it's just that its taken longer than I thought to get there. As a proud American I hope the coming crisis will be a catalyst to finally embrace the economic and political principles our country was founded on.
@peterschiff Peter your interviews helped to introduce me to Gold and Silver. THANK YOU for educating us because this country is a ticking economic and social time bomb.
Is that prudent because even Peter will change as the mix changes??? Who can really be certain about the cake that is being produced;
As a dedicated follower of Peter Schiff's work, I deeply appreciate his insightful analysis. The recent exchange between Schiff and Professor Steve Hanke prompted Schiff to offer further clarification on his perspective, which proved beneficial. Hanke's challenge to Schiff's viewpoint motivated him to delve deeper into articulating his position. Their subsequent discussion was not only informative but also enriching. Both individuals underscored the critical importance of understanding the role of the money supply, monetary policy, and the associated lags in shaping inflation dynamics.
Hanke's assertion that the current ingredients are in the mix, and the cake is baking, highlights the dynamic nature of economic factors. The introduction of new ingredients can alter the outcome, akin to peering into a crystal ball where uncertainty prevails, and only risks are certain.
Exactly. He's not factoring the collapse of Western Civilization
Thanks David for listening to your audience
Thanks for assembling such a spirited conversation between two great guests, David. Great to see two people have a civilized conversation on things they dont agree on. Much to be learned from both of these guests.
Oh wow, we got absolute giants debate. Congrats David
Before I start watching...... Hanke always comes off as ignorant in what's actually happening. I'm so biased about his opinion that I already know Peter will result as the clear winner when the dust has settled.
Peter destroyed the good professor in this debate.
All the professor does is say how wrong Peter is, yet its Peter who was the one who made the most sense
When two people in a debate pretty much agree on everything while sounding like they completely disagree 😂
Reassuring to hear both Schiff and Hanke from their different perspectives and backgrounds converging on a consensus even as they are expressed as always in their own unique styles!
A fascinating and illuminating discussion - only downside being that they are both underlining that sense of unease that exists around Monetary Policy globally and how it will impact us all going forward 🙏🏼
Has the professor gone shopping at a grocery store lately ? My shopping bill tells me inflation is alive and growing.
Study monetarism to understand why he takes that stance.
Dr. Henke lives in Academia, and Peter lives in the real world. Those who can do, do! Those who can't, teach!
He is academic and academics are typically out of touch with society
Prof H. He is an academic and academics are typically out of touch with society
He's over paid from tuition money and have no idea how to work for it.
I’m with Peter, he made excellent points, thank you gents for taking the time for this!
David Lin, you outdid yourself! Great match up, Peter is always great entertainment!
I watched and listened in total captivation. Both Peter and Hanke won this "debate", the win being for David's viewers. As Hanke said, the differences in their views are nuanced. This was awesome. Thanks, David! And thanks Peter and Hanke!
u mean Peter and Hanke , steve and hanke are the same guy.
@@luckyPiston😂
@@luckyPistonthanks! I fixed it. I wrote that when half asleep 😂
I don't think anyone "owned" the debate, they basically agree on 90% or more.
That's why people give it to Schiff. Schiff was talking about the economics and Hanke was focused on "beating" Schiff. He came off far worse despite mostly in agreement.
Peter Schiff👑
Peter is a true American Patriot! We love Peter
But he doesn’t live in Merica.
Thanks for having them both...
Peter Schiff 🐐🐐🐐
Wow! This is it! Thanks, David, for bringing this dream come true conversation with Peter and Prof. Steve!
Peter you pissed him off 😂😂
Peter spilling facts
Well done David for getting these two guys together 😊
I know one thing, Peter definitely NOT reading from the press.
I’ve been waiting for these two to debate forever! Thank you David!
This format with different perspectives being debated is very useful. Thank you all for sharing this.
What a great discussion, thank you very much for setting this up David 🤝
Great men having an honest discussion searching for truth, so rare these days.
The nutty professor needs to go back to school if he thinks inflation coming down. Sounds like the professor has a bit of contempt for Peter for some reason but i think Peter handled it well. Peter would give real life analisis and predictions while Hanke would just talk theory and run off at the mouth for most of it. I can tell the prof is not used to talking when there are grown ups in the room and it shows.
Exactly correct.
inflation will always be there. it is needed or else we would be a 3rd country.
@@lionheart93you do realize most 3rd world countries have the highest inflation out of all the economies…inflation degrades the standard of living, deflation is the rise in standard of living. We need luxuries to become cheaper over time so lower and lower classes can afford them. Inflation creates a larger and larger wealth gap
@@benfox383
Deflation creates depression too .
I don’t think 1930s depression style help people very much ….
@@lionheart93why do we need inflation? We are supposed to be more productive that would keep prices stable in the least. A good hit of deflation would be good for me and many others. It would be a disaster for others. I still don’t see how inflation is necessary to not be a third world. I see it opposite. Third world countries have high inflation way more often. I think you said it backwards
What’s funny is that the professor started off challenging Peter, now he’s agreeing with him..
I thought for sure this would be a stalemate. Boy was I wrong. Peter won
I recently a watched a famous European youtuber organize a debate between two local high-profile people of the like of Peter and Prof Hanke (but these europeans disagreed more on fundamentals). So I just wanted to congratulate David because you did a great job at structuring and moderating the debate. After watching this aweful european debate (that lasted 3 hours), I can tell you that not everybody has the natural leadership and charisma required to keep such debates on track.
Beside this, thank you: I've long wanted to hear these people confront their ideas. My takeaway is that Peter's outlook successfully faced the scrutiny of the profesor, the exchange was interesting.
No discussion of inflation is complete without noting the inflation of these two impressive thinkers and their respective egos. Peter Schiff wins this so called debate as the professor chooses to get bogged down in parochial technicalities as he tries to differentiate himself from Peter. As usual Peter’s paradigm is concise and coherent. Thanks.
That was epic, thanks David
Great episode ! Thanks David for bringing these 2 favourites together!! 👍
Steve Hanke isn't in the crystal ball business. Peter Schiff is.
Sorry, but the professor is wrong
Since QE began just prior to 2008 the money supply has massively increased
He didn't deny that M2 was increasing, just not anywhere near what happened in 2020 alone.
Woah did you get an MBA in “NoShitenomics”? Because you might be on to something here! Just kidding. This guy is ridiculously out of touch and such a book-tard
Peter Schiff should be a professor because Steve Hanks book knowledge is disconnected from reality.
You have to expect that a professor is going to be a little off base vs somebody in the trenches and front lines like Peter. They are both pretty close on views.
He was quoting from his own books
I love this. Thanks David for bring these guys in!
Professor is finally agreeing. He has a heart
The professor is quoting the WEF. Last year Japan experienced a 4% jump in inflation even with negative rates. I agree with Peter in this debate.
Schiff nails it. The professor is the type of guy that can’t admit he’s wrong. Schiff ran circles around the professor. This shows me that degrees are not as meaningful as well thought out common sense. Brilliant performance by Schiff. The professor eventually comes around but and I think the professor was having a hard time being set straight by a guy that he probably doesn’t consider a peer.
Hanke is a smart guy, and he understands the issues better than most. But this bubble has been inflating for so long that it's hard for anyone to accept that its about to pop. To be fair I thought it would have popped years ago, but I got that wrong. And there is a chance that I'll be surprised again. But I wouldn't want to bet on that.
A lot of us are with you Mr Schiff. Keep doing the lords work and we will have our day.
I am not so sure. However, Peter's position makes sense but: Who can really be certain about the cake that is being produced;
As a dedicated follower of Peter Schiff's work, I deeply appreciate his insightful analysis. The recent exchange between Schiff and Professor Steve Hanke prompted Schiff to offer further clarification on his perspective, which proved beneficial. Hanke's challenge to Schiff's viewpoint motivated him to delve deeper into articulating his position. Their subsequent discussion was not only informative but also enriching. Both individuals underscored the critical importance of understanding the role of the money supply, monetary policy, and the associated lags in shaping inflation dynamics.
Hanke's assertion that the current ingredients are in the mix, and the cake is baking, highlights the dynamic nature of economic factors. The introduction of new ingredients can alter the outcome, akin to peering into a crystal ball where uncertainty prevails, and only risks are certain.
Schiff is wrong
You're right. Professor is way to arrogant.
When you have these two experts agreeing on the potential rise in the price of gold, no one can argue about it.
Off to the gold shop for me tomorrow.
Hard to scratch money to buy oz for me. I don’t want to take money out of my trading account but I have been skimming a little off the top the last few months to grab some though. The premiums were ridiculous the last few years and still are high in my opinion especially on silver. US minted metals I am staying away from due to premiums still though.
gold miners are much better investment if you want to actually grow wealth, gold is just good for saving money. Especially because gold miners are still pretty cheap compared to gold itself
@@sten260 can you recommend a few gold miners as good value investments.
@@Infodawg2012 newmont and barrick
@@sten260 Thanks, much appreciated.
Trump has to pick Peter Schiff as a VP 🇺🇲
Treasury secretary
Peter's logic on debt adding to the money supply and govt deficits is correct in my view. How can credit not be included?
Agreed! His point on the price of Oil impacting inflation numbers is also spot on. Peter is a brilliant economist. I try to find fault with him, but it is difficult, if not impossible!
@@Sola_Scriptura_1.618 Where Peter (intentionally, in my view) drops the ball is when he talks about inflation becoming a massive problem any day now. Usually a severe bout with inflation - inflation in the things you NEED - leads to a severe bout of Deflation - in the things you WANT. We are already seeing deflation happen in fancy automobiles and a lot of other nonessential/luxury things. Housing is also coming down steadily in price...but still only in the places where inventory is allowed to expand organically. So history says that we "should" be seeing a fairly nasty deflationary episode (aka recession) BEFORE the money printer cones to the rescue and inflation makes all the problems "go away" (though not really of course). So I think Peter purposefully avoids talking about that likely deflationary scenario because he sells gold so he wants inflation to be the "forever" boogeyman, when it probably won't be a problem again for a couple of years still in my own view.
@jorge1170xyz During the Industrial Revolution, we had deflation! It was the most productive time in American history.
Bankers, bureaucrats, and Politicians propagate the deflation myth. They want to rob us of our wealth. Since when do we, as consumers, not benefit from reduced prices? I guess you refuse to buy things when they are on sale because deflation is bad for the economy? Lol
@@jorge1170xyzDeflation does hit the expensive stuff that is bought on credit first, but Schiff is mainly focused on everyday cost of living. His premise of the money supply being responsible for the rise of everyday goods and services holds true. It would take a 2008 level crash in asset prices in order to get some decent deflation on everyday goods and services. His investment thesis in gold is great. Do you really think the Fed wants a massive asset price crash? Even in 2022, they got uncomfortable with just a modest bear market in stocks.
The process of debt expansion is inflationary, however debt needs to be paid back with interest which is deflationary. In order to maintain and fuel inflation requires constant and ACCELERATING debt creation in order to prevent the balloon from deflating. We can see a clear example with Government debt expansion.
The professor was schooled by the student
Kudos to David - this debate was epic and very instructive! We need more of this and less of one talking head talking his or her proverbial "book".
👍 PETER SCHIFF absolutely right 👉
Thought provoking as always prof. Hanke
Loved it! Good job for David Lin.
Peter is the best and an educator of immense value.
This content is GOLD!!!
Awesome Show David !!!
Much respect for the professor and Peter. They treated each other as professionals. I love and respect you 3 for bringing us the real deal with very little nonsense.
Thank You David. !!!
CLASH OF THE TITANS . Loved it.
This interview confirms why people hate academics. Kudos to Peter.
This is why Peter has been one of my mentors for two decades.
David your killing it with the interviews
@Anthony And you're killing the grammar. 💀
I agree this was a great interview: Please do another one with the two of them after the election
Who can really be certain about the cake that is being produced;
As a dedicated follower of Peter Schiff's work, I deeply appreciate his insightful analysis. The recent exchange between Schiff and Professor Steve Hanke prompted Schiff to offer further clarification on his perspective, which proved beneficial. Hanke's challenge to Schiff's viewpoint motivated him to delve deeper into articulating his position. Their subsequent discussion was not only informative but also enriching. Both individuals underscored the critical importance of understanding the role of the money supply, monetary policy, and the associated lags in shaping inflation dynamics.
Hanke's assertion that the current ingredients are in the mix, and the cake is baking, highlights the dynamic nature of economic factors. The introduction of new ingredients can alter the outcome, akin to peering into a crystal ball where uncertainty prevails, and only risks are certain.
Very brave interview addressing cost push factors as well as money supply factors. 👍
This was great. David needs a bell 🛎️ to run these like a boxing match 😅