A Great Depression By 2025? - The Man Who Called The 2008 Recession Sounds The Alarm | Peter Schiff
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- Опубліковано 28 сер 2023
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Living through the financial collapse of 2008 was one of the biggest economical swings this current generation has seen, until now?
It’s hard to see what’s actually happening when you’re in the middle of it, and that’s exactly why I bring experts with a wide range of experiences and insights to the show. A lot of you are in the crossroads and feeling the pain of how much higher your grocery bill is for the same amount of food. If you were on track with a decent savings account a couple of years ago (especially if you took advantage of the stimulus money that got us where we are now… we’ll talk about that today) you noticed your savings are virtually non-existent now.
Working 2 to 3 jobs was once reserved for the hustler on a mission trying to work towards something major, and now it’s the standard for many people just to make ends meet!
My guest today not only accurately predicted the 2008 financial collapse, he’s a seasoned Wall Street prognosticator known for his spot on predictions of the stock market performance, including gold, commodities, and the might dollar.
Peter Schiff is breaking down for us the mind-games government uses with data to ease the pain we all know to be a rapidly declining standard of living and exposing how the Fed’s inflation strategies are destroying the American economy.
- Expose the fallacy of inflation being needed to stimulate the economy and spending
- Capitalism's role in creating freedom and opportunities
- Why anti-discrimination laws create more prejudice
Is a depression greater than the Great Depression we all ready about in US history on the horizon for the US? If record numbers of credit card debt and student loan debts serve as any kind of indication of what’s looming around the corner, you’ll want to take notes and really think through this for yourself and your family.
This is Impact Theory and this episode is about thinking through not just how to survive the next economic crisis, but how to get ahead of most and actually thrive.
PETER SCHIFF QUOTES:
“When the government prints their way out of a short term problem they print their way into a an even larger long term problem.”
“The fact that we have an economy that is based in spending, that is the problem. That’s part of the bubble, we have a bubble economy. A legitimate economy would not be based on spending, it would be based on savings and production.”
“Money is supposed to have real value. It’s not supposed to be conjured into existence out of thin air by a central bank.”
“A lot of people believe that capitalism is evil, but capitalism is the least evil economic system that exist.”
“Capitalism created the American middle class. Without capitalism there wouldn’t have been a middle class. There would have just been a bunch of poor people and some rich bureaucrats at the top that were sucking the life blood out of everybody else.”
“You don’t get rich by hoarding your money because if your money is hoarded it doesn’t grow. The way people get rich is by investing their money, by creating economic growth, by producing more products, by providing more employment.”
“The inherent flaw isn’t capitalism, it’s democracy.”
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I didn't watch this entire video because I'm tired of hearing guys like this complain about the debt but not discuss the fundamental reason the debt exists.
The guy complaining about debt probably didn't discuss why the debt is there to begin with. Between tax cuts and the constant manipulation of the money supply by the FEDERAL RESERVE, the wealthy people used that money to accumulate the majority of assets in this country. And once they controlled the assets, they could price them however they want while spreading propaganda about "free markets." Meanwhile, the entire country (individuals and government) must go deep in debt to buy and use the assets owned by those wealthy people.
It's honestly that simple.
If you want to end the massive debt, you need to do two things.
1. Get rid of the FEDERAL RESERVE. We no longer need a group of human bankers with personal agendas acting as gatekeepers to the money supply. Start using A.I. to generate better ways to control the supply of money.
2. Break up the concentration of assets owned by the top 10%. Those top 10% own between 80% and 90% of all the wealth in the country. History has proven that's unsustainable over the long term. Now is the time break up that concentration of wealth and let average working people actually own things without all the debt. It won't be easy. Those wealthy elites will kick and scream about socialism and communism, but it must be done. This isn't about everyone being equal, or stealing money from so called "hard working" wealthy people just looking to create jobs. That's all propaganda. I don't care how hard you work, you should not be able to own +80% of assets while people are dying from lack of healthcare, clean water, housing and other basic necessities.
LOL, my analysis was right. Within 3 minutes he started blaming Biden and Carter without acknowledging the truth of what I discussed in the previous post. Absolutely hilarious. He can take his phony political agenda and shove it. Definitely giving this video a thumbs down. Glad I didn't stick with it. You need to start grilling people on their political agenda when they go off on rants like that otherwise your interviews will come across as disingenuous.
@@henrythegreatamerican8136I understand your sentiment but using anything artifical to manage assets is an opportunity for you to be fooled. As it's deception is in its name if you look carefully. To overcome this you must look to Yeshua who is The Way, The Truth & Life and it is only in Him that you can be free from what you inherently detest. It is only in Him where you will find the drive to do what is right without having to rely on a beast to ensure that everyone is doing what is right. You must understand that salvation is an individual gift thus to operate from a collective view is what makes you part of the beast thus the cycle of suffering is in constant motion and always seemingly justified by blaming those within the cycle. It's the snake eating itself and so these are the ways of the beast and must be avoided in order to truly live the way The Creator intended you to. Remember if you believe in Yeshua you are part of a greater nation than any found on the face of this earth, and it is a nation that is extends into eternity. What nation do you know like this my friend?
Maybe you should have finished the video. He was being the devil’s advocate the whole way through
@@sabbyg725 Well, he stood by typical trite talking points used to funnel more money into the pockets of those who are already obscenely rich. I couldn't take it anymore.
1. Blame Biden and Carter for the inflation while they are in office without recognizing all the factors before they got into office.
2. Demand less regulations to "free the market"
3. Demand lower taxes so those big companies can create all sorts of jobs and make everything great. As if many of those companies are paying anything remotely close to what the true tax rate is
4. Demand more privatization. How well has that worked in the healthcare industry? How well has that worked in the private prison industry? How well has that worked in the college and college loan industry? How well has that worked in the gas and oil industry? Yes, most things should be privatized, but they want to privatize everything so they could cut everything to the bone (including wages) and skim all the manipulated profits off the top while offering a crappier service and product.
I'm sure there is more, but these are just a few things I heard early in the video that proved this guy is a speaker for those elites looking to grab more assets for themselves at the expense of debt for the rest of us including the country.
Recessions are an unavoidable part of the economic cycle; all you can do is prepare for them and plan accordingly. I graduated into a slump (2009). My first job after graduating from college was as an aerial acrobat on cruise ships. Today, I work as a VP for a global corporation, own three rental properties, invest in stocks and businesses, run my own company, and have increased my net worth by $500k in the last four years.
Find quality stocks that have long term potential, and ride with those stocks. I have found it takes someone who is very familiar with the market to make such good picks
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
excellent! how did it work out for you? been on red more than 20% this year , but hoping to bounce back
Her name is.Her name is 'Lucia Alicia Cruz. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment...........................
Thanks for tips....... I look up to her and she really seems to be a compassionate lady but still waiting for her responses...
Please stop with the clickbait titles. I used to love the unbiased videos on what's really going on in the Economy. Economic fatigue is showing with most folks. Most are so tired of hearing about the worse even though it's true. My 7-figure share holdings are down 17%
Inflation gives the illusion of growth. Investors should exercise caution with their exposure and exercise caution when considering new investments during these periods.
Hold and do not panic sell....the market is a marathon not a sprint.....See a market strategist with experience if you are unable to manage these conditions
The market is not necessarily a rollercoaster if you know your way around the market, there are various opportunities in the present market to accrue good profit, If you are not too savvy with the market, just buy and hold on strong companies with good earnings, or consult with advisors on ETFs and actively managed funds.
I've been considering getting one but haven't been proactive. Can you recommend any? Could really use some assistance.
Dude
The unhoused population was around 200k in 2019
It has increased by half a million citizen, to nearly 700k now!
Drive around USA, or look at UA-cam videos
Most of us have BEEN in a Depression
Our economy is like a flailing fish, fighting for its life. The normal state of the U.S. economy is actually very bad. Because of this it goes into convulsive spasms fighting to grow any way it can out of desperation. Tricks, gimmicks, rule changes try to stimulate the economy and prevent it from falling but they only bring temporary relief to people since, when you factor in inflation we are declining.
People believe their currency has the worth it does because they have no other option. Even in a hyperinflationary environment, individuals must continue to use their hyperinflationary currency since they likely have minimal access to other currencies or gold/silver coins.
Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire.
How can i get started when it comes to investing and passive income?
Rachel Sarah Parrish, you can read up on her, she's quite known and her works speaks for itself.
Thank you so much! I found her webpage and left a message. Hopefully, she responds
I mean the groceries alone, the fact that 3 bags of basic essentials is easily 100 dollars and that last just a few days and I'm a single adult, I have no idea how families are doing it.
Same
Same, same.
Same
Mac & Cheese
We are 5 in the family , 7 , 5 , 2 years old kid..our grocery is like a thousand per month + rent , bills , car etc. we don’t by new clothes, we always cooked our meals,,300 dollars extra for saving then every year there is a inflation the 3000 dollars per year is useless.
In summary, when gov prints money, it’s called “quantitative easing”. When we print money, it’s called counterfeiting and a felony.
Our government is the best ever devised, and is now the most criminal it’s ever been, but of course they never suffer a consequence at all….like we do!
The only way the game ends is when the majority of people realize nobody “owns” anything in this temporary existence. You own a piece of history at best, and I mean a sliver of a piece.
We pretend we “own” things that nobody can own, that were here long before and will be here long after us…
You can print money..walk into a bank and get a loan...apply for a credit card.. Viola...you printed money
You print free money and collect interest for 120 yrs....vola you own most major box stores, and companies like black rock...therein you own and control governments 😮
Peter, you are 100% right and spot on from an economic perspective. What you are missing is the impact. Proud people are starving themselves to pay property taxes. No health insurance. No pension.
We can't ignore the potential impact on portfolios. Bonds are often considered a safe haven, and if they crumble, investors like me might scramble. I’ve been investing for 11 yrs and my $1m portfolio has never been this depleted, how i do hedge this?
In fact, markets have incorrectly priced in such a pivot six times over the last two years, according to Deutsche Bank, which sounded cautious about this seventh time. Still showing us why pointers from market experts are essential
I agree, having a brokerage advisor for investing is genius! Amidst the financial crisis in 2008, I was really having investing nightmare prior touching base with a advisor. In a nutshell, i've accrued over $2m with the help of my advisor from an initial $350k investment.
impressive gains! how can I get your advisor please, if you dont mind me asking? I could really use a help as of now
“Leila Simoes Pinto’’ You can easily look her up, she has years of financiaI market experience.
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.
Health insurance killed medical costs. In the early 60s, I went to the doctor, got the service, and paid him!!! Now there's layer's upon layer's of staff, and they are just rude.
You must be 80+ Years. Holy moly Gandalf. Hope you are doing good.!
@@penti7974no just go to the hospital or a walk in.. Heck just get out of your house and you'll understand 😂
@@philliam111 I dont give a shit about you US plebs. Failing state. Greetz from Switzerland
@@philliam111 🤡💩🤡💩
The US economy is grappling with uncertainties, 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.
Things are strange right now. The US dollar is becoming less valuable because of inflation, but it's getting stronger compared to other currencies and things like gold and property. People are turning to the dollar because they think it's safer. I'm worried about my retirement savings of about $420,000 losing value because of high inflation. Where else can we keep our money?
Well I recommend you make a diversification plan because it's been harder to build a good stocksportfolio since COVID. My colleague suggested I hire a brokerage Adviser, and I've actually made over $150K with their help during last market upheavel. They used defensive strategies to protect my portfolio and make profits despite the ups and downs.
My consultant is Lisa Angelique Abel She has since provide entry and exit points on the securities I focus on. You can look her up online if you care for supervision.
Yeah all that! Lol
The problem is the anticipation proclamation was not foreseeable! Therefore the inflation is tied to an illusion wrapped up in an enigma!
in 1970 the average salary was $9100, the average home prices $23,000. Today, to have this same ratio, the average salary would be $195,000. We are not doing well.
To be honest, I just pooped. How much poop? The whole bowl 🥣
Spending less . Changed my lifestyle. Rediscovered reading. My hangout is the library. And writing is my personal expression, walks in the parks is my spiritual cleasnsing. And playing with my grand children is bringing immense joy.
Well said. The best pleasures in life are the simple ones!
What I like the most about Peter is that he doesn't use big financial terms that only an expert can understand. He has the ability to break down even the most complicated economic and social issues in a way that even idiots like me can understand. In my opinion, the guy's a National Treasure.
Even though I understand most people no matter how eloquent they speak I feel like alot of them scare off people that have zero understanding of what they’re talking about.
Peter with his load full of BS all over again 🧐🧐😵💫🥴😵💫🥴
Boston Fed President Susan Collins said the central bank may hike interest rates further and will likely need to keep rates elevated for a "substantial" period of time. I’m thinking of investing $400k into my stock portfolio but unsure about the market.
The question is whether inflation's downward trajectory is convincing enough to take a more measured pace with interest rate hikes, or whether a more aggressive approach is warranted to get inflation close to the Fed's target of 2%.
Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, , and in just a few months, I was able to earn over $950K in net profit from high dividend yielding stocks. you should try it if you're unsure about the market.
Pls who is this coach that guides you? I’m in dire need of one
My advisor is *Sharon Louise Count* she’s highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field.
She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing
“If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them (around the banks), will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered.”-Thomas Jefferson
Real inflation is 21% as John Williams fell ShadowStats calculated the real number using the original method in the 80s before the multiple manipulation of the formula used by government.
Ironically banks are private corporations which are an essential part of capitalism and which Peter argues is part of the private sector that govt should stay out of.
This is a fake quote!
He never said this, look it up.
Also would make no sense if the money was backed by gold it wouldn’t be a problem and afaik all banks where private, but gold backed, back then.
@@malcolmfreeman7802banks are far from private entities. They cant survive without the state.
@@MacroAnarchywhether he said it or not, may be a true statement, no? Also , I t’s my understanding that the U.S. has been in been in debt since before it gained independence. Idk I wasn’t there.
Pete, you can't save everyone!!! When I purchased my new single home in the late 60s, it was $29,900 and the mortgage rate was 5%, and my wife didn't work!!! Now???
That must be a very nice house. My dad bought a 3 bedroom 1.5 bath brick house for $14,000 and added an addition of a den for $2,500.
I was talking to a friend in the Netherlands and another one in Germany. The Girl in Netherlands said to the guy in Germany " I saw that you had lots of traffic jams due to all the snow on the news" he said "what are you talking about, there was hardly any snow it was because of the farmer protesting" this was so interesting to me seeing how subtly the media monipuplating everything, how little we can trust anything we are told by "Authorities" I want to thank you Mr Brand on all the great work you are doing in helping the masses awake with the Trews.
Transfer of wealth usually occur during market crash, so the more stocks drop, the more I buy, in the meanwhile I'm just focused on making better investments and earning more as recession fear increases, apparently there are strategies to 3x gains in this present market cos I read of someone that pulled a profit of $350k within 6months, and it would really help if you could make a video covering these strategies.
With markets tumbling, inflation soaring, the Fed imposing large interest-rate hike, while treasury yields are rising rapidly which means more red ink for portfolios this quarter. How can I profit from the current volatile market, I'm still at a crossroads deciding if to liquidate my $125k bond/stocck portfolio
Having an investment adviser is the best way to go about the market right now, I've been in touch with a coach for awhile now mostly cause I lack the depth knowledge and mental fortitude to deal with these recurring market conditions, I nettd over $220K during this dip, that made it clear there's more to the market that we avg does don't know
@@africanboi4542 that's impressive!, I could really use the expertise of this advisors , my portfolio has been down bad....who’s the person guiding you.
@@cloudyblaze7916 the investment-advisor that guides me is Mrs Marisol Cordova, she popular and has quite a following, so it shouldn't be a hassle to find her, just search her
@@africanboi4542 Thank you for this tip. it was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé..
Some group of economists have projected that both the U.S and parts of Europe could slip into a recession for a portion of 2023. A global recession, define as a contraction in annual global per capita income, is more rare because china and emerging markets often grow faster than more developed economies. Essentially the world economy is considered to be in recession if economic growth falls behind population growth.
That’s why I always make it a point to speak with a financial advisor before choosing any investments. Apparently , I’ve been using one since the pandemic, using profits oriented tactics and minimizing risks as a buffer against inevitable downtrends.
In addition they have valuable access to insider knowledge and analysis, making failure virtually impossible for them. I’ve made over $1.5million passively working with Gregory Thomas Patchak, my advisor for over three years now.
__
Your advisor really seem to know this stuff. I found his online-page when I made a google search of his full names online, read through his resume, educational background and qualifications, it was really impressive. I left him a note and booked a call session with him..
__
With the help Sir Gregory Thomas Patchak, I've gained perfectly well from my investment. The quantity of capital you invest, though, ultimately determines everything. With a substantial start-up budget, you could be able to earn more Gains..
Gregory Thomas Patchak's strategy has been helping a lot of traders/ holders out there, with his program I was able to recover my losses from the crash so swiftly...
I love Peter …. He was spot on in 2005 re 2008 crash 💥
Excellent conversation. I agree with 85% of what was shared. My father, his father etc. lived in a harsh and unkind world and it had nothing to do with government. Thank you 🙏🏾
We Are in Unchartered Financial Waters! every day we encounter challenges that have become the new standard. Although we previously perceived it as a crisis, we now acknowledge it as the new normal and must adapt accordingly. Given the current economic difficulties that the country is experiencing in 2023, how can we enhance our earnings during this period of adjustment? I cannot let my $680,000 savings vanish after putting in so much effort to accumulate them.
You have a very valid point, I started investing on my own and for a long time, the market was really ripping me off. I decided to hire a CFA, even though I was skeptical at first, and I beat the market by more than 9%. I thought it was a fluke until it happened two years in a row, and so I’ve been sticking to investing via an analystv
My CFA ’Margaret Johnson Arndt’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
@DorathyJoy Law of use is a physical law.
This is nothing new...we are following the Weimer republic and Rome on an economic collapse.
@@RaymondKeen.Margaret Johnson Arndt
Peter is a LEGEND. His father was too. Thanks for having him on the channel. Awesome channel Tommy 👍
Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. A trader made over $350k in this recession influenced market
Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are alot of wealth transfer in this downtime if you know where to look.
The best course of action if you lack market knowledge is to ask a consultant or investing coach for guidance or assistance. Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, even though I know it sounds obvious or generic. I believe that is the most effective way to enter the business at the moment.
Impressive can you share more info?
Credits to 'Carol Vivian Constable' she has a web presence, so you can simply
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
There are many parallels today to the great depression: widespread drought causing massive farm losses and food shortages, epidemic diseases, and numerous catastrophic wars.
I wonder if people that experienced the 2008 crash had it easier because. my portfolio has lost over $27000 and I don't see my retirement turning out well when I can't even grow my stagnant reserve
You have an opportunity to rebalance thanks to volatility. In order to help you diversify your portfolio, you must hire a financial counselor or broker.
I'll suggest you create a diversification strategy because building a good financial-portfolio has been more complex. I have accrued over $120K under the guidance of my coach during this crash. She figured out Defensive strategies to protect my portfolio and make profit from this roller coaster market.
I’m new to all this, heard it's a good time to buy and basically I've just got cash sitting duck in the bank and I’d really love to put it to good use seeing how inflation is at an all time-high, who is this coach that guides you, mind I look them up
My advisor is *Alicia Estela Cabouli* she’s highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field.
She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing.
In every crisis, there is an opportunity," as the saying goes. The 2024 recession, while challenging, presents unique avenues to amass wealth. First, it's essential to remember Warren Buffet's advice: "Be fearful when others are greedy, and greedy when others are fearful." During recessions, assets often undervalue. By investing wisely in stocks, real estate, or businesses during this downturn, you position yourself for significant returns during the economic recovery.
An obvious way to invest for a recession is to buy shares in businesses that are likely to experience steady demand even in a downturn. Typically, those are consumers staple, utilities and healthcare companies. But of course, such decisions can’t be made by an average joe, a financial advisor is highly recommended in making this decisions..
Since the outbreak of 2020, which had a significant impact on the market, I've been running all of my investment decisions through an investment coach because their entire philosophy is centered around using a high-profit oriented blueprint while simultaneously going long and short, as well as reducing risk exposure as a hedge against inevitable downtrends. Underperforming is almost impossible when combined with their access to strange data and analysis.
Natalie Marie Tuttle is my Advis0r. She has since provided entry and exit points on the securities I concentrate on. If you want to check her out, you may do so online. I usually trade in accordance with her strategy.
It is written,
‘Ye cannot serve God and mammon’
Author - Jesus Christ
Assuming there is one. If we don’t get control over our elections I don’t believe there will be one.
This seems like the worst period.Even the markets are very unpredictable.started investing recently when the market prices were a bit high,today i am more than 60% down
Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation.
true, A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for license advisors and came across someone of due diligence, helped a lot to grow my reserve notwithstanding inflation, from $275k to approx. $850k so far.
Is there any chance you could recommend who you work with? I've wanted to make this switch for a very long time now, but I've been very hesitant about. I'll appreciate any recommendation.
thanks, was guided tho..Julia Hope marble. walked me through the ropes majestically i'ts my ultimate pleasure.
I'm definitely gonna check her out. Do yo have any idea if she manages family fund?
What I hear,Pete, is truth in my 72 year old book. How we are not in a deep long term economic depression has amazed me for the last 40 years 😢.
The financial system has been artificially pumped for over a decade to ensure big pockets were lined; and now those same hands will make a fortune in the largest transfer of wealth in human history by shorting it on the way down. Inflation does have a roll, but that's to keep everyone panicked, and focused on their bills and expenses, rather than focus on the capital crimes of politicians and corporations,I'm still at a crossroads deciding if to liquidate my $338k stock portfolio, what’s the best way to take advantage of this market??
I don't have a full-time job; instead, I'm self-employed with a variety of sources of income. Regardless of how much money I generate each month, I maintain the same budget and adhere to my means-tested lifestyle.
Sometimes realistic factors discourage people from reaching their goals in life. For instance, I've tried investing in the stock market several times but always got discouraged by fluctuations of stock value
Fantastic! can u share more details?
I'm definitely gonna check her out. Do yo have any idea if she manages family fund?
I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
It is not a depression. It is a reset. Where wealth is stolen from everyone in such a way no one can get it back and we all need to start over.
Yes reset and a huge setback for the taxpayers etc
Speaking as a 'black' individual, your guest was right on point and I agree with 99% of what he said!! 🤗🤗 Great interview!
Listen up people I was 17 in 1971 and it was tuff , gold standard kept the government honest
Thanks Tom, I really appreciated the opportunity to connect with your audience.
You're the man Pete! 🐐
You’re a legend Peter!! All the best and thank you for never backing down!!!
You are very much appreciated Peter. 🙏
I hope you understand that and never have to doubt it.
Greetings from Sweden! ✨
your banking clients still haven’t received their money after more than 1 year penniless
Yes, because the government institutions prevent it! You know that right?@@4anewdeal190
Peter schiff is the man. I've learned more from his podcast than 4 years of macro economics at university
He understands but i know the government know this. Now we need to elect some one that actually talks about it.
Structural changes need to be implemented to prevent (legal) corruption of Federal Government and Congress.
Too many rules have been written to protect themselves from illegal activities like insider trading.
Really? Because he's arguing for the people in power.
Love to hear that you're getting value from his content!
What was the biggest thing you've learned from him so far?
Best,
Impact Theory Community Manager
Yes, Peter Schiff is a super star in economics, so why would Tom wear a kids ball cap while on video with him? 😮
Investing in the stock market has HISTORICALLY provided higher returns than other forms of investment. According to Morningstar, the average annual return for the S&P 500 index, which measures the performance of 500 large-cap stocks, was approximately 10% from 1926 to 2020.
Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over $610k just in a matter of weeks/couple months, so I think there are a lot of wealth transfer in this downtime if you know where to look.
The best course of action if you lack market knowledge is to ask a consultant or investing coach for guidance or assistance. Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, even though I know it sounds obvious or generic. I believe that is the most effective way to enter the business at the moment.
please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with them?
Fiduciary counselors have access to exclusive information and data sources that aren't available to the broader public. By heeding the guidance of my fiduciary counselor ,Aileen Gertrude Tippy I managed to generate earnings exceeding $820,000 during the third and fourth quarters of 2022. I have high expectations for continued success.
I just looked up Aileen online and researched her accreditation. She seem very proficient, I wrote her detailing my Fin-market goals and scheduled a call.
Petter Schiff is the best financial analyst ever. He speaks with common sense always and that’s why I love this man. Thank you! 🙏❤️
This was the best interview of peter shiff I have ever seen. Tom's style made all the difference. Tom caused a transformation of Peter's tone demeanor by somehow making it more conversational than Peter's usual soapbox delivery that often feels condescending.
Loved it!
Funny, all I hear is the standard unregulated market-based economy screed that's no better for most people than stifling government interference.
Don't you realize that 70% of the inflation was caused by corporate profits increasing every year. Lol this guy is a person who his father never pay taxes and wound up dying. As his father gave him a silver spoon in his mouth he has no idea what it's like to have really survive in the world.
And you're actually thinking he's correct
We're glad you appreciated the conversation!
What was your biggest take away from the conversation?
Best,
Impact Theory Community Manager
@@TomBilyeu Peter Schiff is an idiot, Tom you should know better I like you
Totally agree! Great job interviewing guest ❤
Absolutely loved 🙌Peter Schiff’s🙌 common sense analogy of explaining our current deceptive economy 👍🙏❤️
In 1960, my father was a factory worker and was able to buy a house for my mom and me. My mom and and dad had moved from Cuba in 1957. When we were sick, the doctor would come to our house instead of us going to office and infecting others. My mom was able to stay home and raise me.
I’m a professional and my whole career I have made about 200k per year. Over the last 25 -27 years I have paid about roughly 1.2 million dollars in federal income tax. If I had been able to invest that it would be worth about 4 million more now. I wouldn’t even need health insurance or social security. I basically have paid out in taxes what I can save. Taxes are my biggest complaint and then to add insult to injury the government just wastes the money and goes horribly into debt. It’s harmed me as an individual to pay money into a terrible system that just over spends and wasted billions of dollars.
Tom is looking at him the same way I am when it comes to pre-civil rights.
The guy speak from the heart. Real truth. Salute to Peter schiff🎉
Its crazy he's talking about what his grandpa did. My great grandpa, grandpa and great uncles ran junkyards. My grandpa started buying farmland in the 80's. Its absolutely impossible for me to replicate this. From start to beginning, just attempting to start a junkyard or acquire rental properties (they also had rental houses) is road blocked by costs and government regulation.
Relatively speaking, things are far more expensive today. Your grandfather was smart, but it was easier for him to invest than it is for you.
Less government equals more prosperity
You are right in many ways it was easier for our grandparents. People forget there was no income tax in this country until relatively recently. Also little gov oversight.
My grandpa bought and fought and farmed 130acres of worthless infertle land in the 20s. I'm 3 generations in living on a parcel of that now divided land.
There is no way I could do what he did today.
There is no such thing as cheap infertile land. Nobody small farms because gov oversight prevents them. So fertility of land has no modern meaning.
As an investing enthusiast, I often wonder how top level investors are able to become millionaires off investing. . I’ve been sitting on over $545K equity from a home sale and I’m not sure where to go from here, is it a good time to buy into stocks or do I wait for another opportunity?
you are right. it's been a brisk tailwind for lnvestors in US stocks over the decades but it is still a delicate season now, so I advise you to consider the guidance of a financiaI advlsor
I agree. Based on personal experience working with an investment advlsor, I currently have $985k in a well-diversified portfollo that has experienced exponential growth. It's not only about having money to invest in st0cks, but you also need to be knowledgeable, persistent, and have strong hands to back it up.
Please can you leave the info of your lnvestment advsor here? I’m in dire need for one
There are a lot of independent advisors you might look into. But i work with Viviana Marisa Coelho and I have been working together for nearly four years, and she is excellent. You could proceed with her if she satisfies your discretion. I endorse her.
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
absolutly love your analysis and questions that all of us want to know.
common sense info we all need
keep doing exactly what your doing
thank you
Peter Schiff is the most sane person I've heard on any of your podcasts to date. Thank you for having him speak on your show. If only people could understand how the concept he describes would benefit everyone. Our world would be so amazing. All our government should be doing is protecting our borders, period! Live and let Live. 😊
We’re ALL screwed. Retirees will lose their savings and the young will have to start completely over in a severe economy:(
It's worse than that. We are headed for a complete economic collapse like German in the 30s.
You yourself, just nailed the jist of this video. Here, many are watching the video for advice, but the secret to holding real wealth, is to not hold things that others can figure out a way to legally charge you a portion of it, just to have it. ..Hint: Kinda why the wealthy own vintage wine, stored safely in wine cellars 😉
Whoever has not, watch “The Big Short” and “Margin Call”, in that order this weekend.
What goes on behind the scenes and why we can never trust the government or the big banks and treasuries.
It’s horrifying.
He makes so much sense..why isn’t anyone ,listening?
Love Peter! He is so right about it all. Even the discrimination thing. Government, in the process of supposedly eliminating discrimination, made it much worse. My husband and I listened to Peter in 2007-8 and it saved our bacon. I respect and trust his opinion and analysis.
My first time on this channel and I don't even know how I got here. The best interview I have ever watched/heard on any social media platform. Sat through every minute...
The comfort of the rich depends upon an abundant supply of the poor.”
― Voltaire
😞 Indeed
Beautiful little plants you were growing, btw 😃
That is not true. Rich pay most of the taxes. Provide most of the jobs. There is a codependency relationship between rich and poor
the thing is, from elon, mark, larry, besos, someone making 100k a year is poor. the problem is when the goverment squeezes the 30k income into poverty by inflation tax and other evil practices, just because they cant live out of the millions they steal.
That's why the .gov has income taxes - to make sure there are plenty of poor, working people.
I love Peter Schiff's conservative principles. He is absolutely spot on when it comes to economics and taxes and government.
Totally agree with most everything Peter Schiff spoke about. Great show👍
During a recession, many stocks and assets may be undervalued. I believe now is an ideal time to capitalize on the market for long-term gains, but it wouldn't hurt to know how to make short-term profit. I've heard of investors making over $400k profit in this current sinking market, and I'm looking for ideas on how to earn similar profits.
The market is volatile at this time, hence i will suggest you get yourself a financial-advisor that can provide you with entry and exit points on the shares/ETF you focus on.
Very true , I diversified my $400K portfolio across multiple market with the aid of an investment advisor, I have been able to generate over $900k in net profit across high dividend yield stocks, ETF and bonds in few months.
@@LukeMcfarlane5 wow ,that’s stirring! Do you mind connecting me to your advisor please. I desperately need one to diversified my portfolio.
I appreciate this. After entering her full name into my search bar, her professional web page surfaced as the top result. Her impressive qualifications undoubtedly speak volumes about her expertise
Lmao fake conversation
I think it’s good to notice how much money people spend on cars. Before people would spend maybe $14K on a truck. Now people want to spend $75K or more on a truck and spend 6 years to pay for it. About 44% of the US population are on the 6 year car payment plan. People spend their lives on a payment plan and do not save.
Apparently, you haven't gone car shopping recently.
Cars are needs now before cars were wants. Like all trends these 5 years make needs unaffordable! Why?? Ask the damn government!
Thank You, this is GOLD
Thanks Peter, you're one of the few that actually says stuff that actually makes sense out of all this crazy
One of the best overall topics that Peter has covered. A lot of lost, common-sense information in this interview.
Worst track record in financial markets, total salesman makes all his money from fees not from being correct.
The level of honesty said out load is refreshing! Surprised nobody has tried to cancel him. Great interview.
This FEAR PORN IS HILARIOUS! LMFAOOOOOO AND TOM'S SORRY ASSSSS HAS FALLEEENNNN FOR IT. Channel is dead!
We're stoked you appreciated the conversation!
What was your biggest take away from the conversation?
Best,
Impact Theory Community Manager
I was on board before he tried to say that the government forced bigots to hang my ancestors... and that they didn't want to be racist or prohibit us from eating in certain restaurants or going to certain beaches without being killed.... economic points seemed pretty spot on.. but it's easy to say go somewhere else when there are other places to go... but when our communities are burned down like in Tulsa... we didn't have a place to go... so I dissagree with that... but a productive discussion overall 👍🏾
Ty for this interview. I always had this way of thinking in the back of my mind however my actions were not in alignment. I was wiser but was not acting like one. I now know am much wiser- just need to act like one! Needed the endorsement. Love from India who spent more than a decade in US but returned as something didn’t feel right about constant (instant) gratification behavior.
This guy has predicted 13 of the last 2 recessions. That said, I agree with him this time.
This FEAR PORN IS HILARIOUS! LMFAOOOOOO AND TOM'S SORRY ASSSSS HAS FALLEEENNNN FOR IT. Channel is dead!
Government printing will keep delaying the reconning until they can't. The market will go along to get along until there is blood in the streets.
Early does not mean wrong
@sergedadesky5638 as I say, it is better to be 15 years early than a second too late!
@@Sola_Scriptura_1.618 LOL wrong.
After climbing the corporate ladder for 15 yrs and tripling my income, I don't feel like my standard of living has improved a whole lot vs when I was just out of school.
@@Username-lw4mi I'm single and very thrifty. Life just costs several times more for the same basic stuff as it used to. Heck I used to have a 3 story Victorian house all to myself but now can barely afford a little condo. My car insurance is 4x more, car payments 2x-3x, grocery an easy 3x, fuel 2-3x, entertainment 2-3x, any kind of service is like 4x as much...
@@misterbulgerexactly
Peter Schiff is one of the greatest economic analysts on here
The man knows what he says👍
More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
Peter is honest and doesn't avoid difficult issues. Respect.
Intellectual honesty is quite rare, and very valuable.
He avoids bitcoin tho😂
I won't say he is honest where's covid in what we are going through, I don't trust anyone who choose to make one Government responsible for years of a economy messed,
@@brandoncarle time will tell. Also he doesn't tell not to buy Bitcoin. Buy it but understanding it doesn't hurt
He avoided talking about the great cost benefit to the working class of gov regulations. OSHA safety, worker rights, air and water quality acts to prevent us from drinking and breathing corporate pollution.
Peter Schiff seems to be stuck in Reagan era economic thought. Businesses can do no wrong and regulation is poisonous to growth and markets. However, we live in a time where major industries have literally bought our representatives. The working man or woman has no representation in the US anymore. There are countless examples of private industry weaponizing government so that they can keep competition out, and protect profits while causing direct or indirect harm the working class of this country.
congrats, you discovered Cronyism 🙄 only possible because Government has grown so huge.
Facts, he becoming a dinosaur.
So is the solution more government for more capture? We don't have a true free market. We have a corrupt hegemony. Aka private/public partnerships which is just legal cronyism.
Yes, he loves the snake eating it's own tail...this is what his style of capitalism has become. But if only the government would get out the way ....so the zombies could start the feast.
Your ire should be at government not private business. Turn the telescope around and look through the right end.
How are we getting out of this? Nothing gives. High gas prices, food, utilities, interest rates, etc. Are prices ever going down?
Wonderful podcast, thank you very much🙏👌
This is one of the best interviews ever. Ever.
Agreed, Peter’s rationale is in point
I agree, and Peter even excelled more the usual by listening well and not talking over his host !!!
He's like a leaking faucet with extensive supply.
Peter Sht. He's just a greedy kosher trying to sell you gold etc. He's always been full of sht. He's just parroting the money printing explanation they all do
I used to think every investor lose out during recession, meanwhile some make millions. I'm nonetheless considering whether to put $200k in my stock portfolio. What is the greatest approach to profit from the market?
The mkt has gone berserk! Whether you’re a newbie or a veteran trader, everyone needs a sort of coach at some points to thrive forward.
I’ve been using a coach for over 3 years and my portfolio has yielded from initial $500k to a ballpark estimate of $1.85m as of today. you should not make investment decisions without consulting with an FA
This is probably what I should do. Who is your advisor, please?
My advisor is *Sharon Louise Count* who is easily searchable on the web. She has extensive knowledge of the financial market
She actually appears to be well-read and educated. I just did a Google search for her name and found her webpage, I appreciate you sharing
In this environment I tend to hedge my positions in the market with buying hard assets. Stock up on things that last. Start with needs like food tires fuel . Be Independant! That is where we need to go! Don’t let these big companies jerk you around!
How do you safely stock up on fuel? Food and tires and growing your own as long as disaster doesn't strike. But fuel? For a few months maybe sure like for hurricanes.
Really good. He is saying so many things I have been saying for a long time.
1:12: 📉 Peter Schiff believes that the economy is in a recession and that the government's numbers are deceiving.
35:52: 😕 The speaker believes that the US government's actions to print money and provide relief during crises have short-term benefits but will lead to negative long-term consequences.
1:11:24: 🔑 The speaker believes that individuals should be free to donate money to those in need, but government involvement in charity is inefficient and can perpetuate poverty.
1:45:49: 📉 The market believes that the Fed can engineer a soft landing and bring inflation back down to 2%, allowing for interest rate cuts, but this belief is misguided.
2:17:30: 📉 The speaker believes that the dollar will eventually go down and suggests investing in underpriced assets rather than making short-term bets on the stock market.
Recap by Tammy AI
Why do we need this recap that you put so much work into?
@@goldilocksminer8393 Not everyone has time to kill? This helps people out.
I thank you for the recap!
This was amazing content, nobody is telling this information the way you have. Keep up the Awesomeness
I take home 800 a week, rent for run down shack in woods 500, 27 year old blazer, still patching it together, I'm saving and investing every week....dont live beyond your means!
Excellent presentation love it good job
So thankful for the content put out on your channel Tom. I love how you ask the questions I would ask if I were sitting there and you thoroughly have researched the content beforehand. Great, intelligent questions.... so appreciate your channel. Thanks for making life so much better for others willing to listen!
This FEAR PORN IS HILARIOUS! LMFAOOOOOO AND TOM'S SORRY ASSSSS HAS FALLEEENNNN FOR IT. Channel is dead!
I wish I had an uncle just like Peter Schiff! What a great family events we might have! Lot of life lessons learned and wisdom.
thank you Mr. peter schiff for saiing facts. regards from Sweden
It should be mandatory in all high schools to watch this interview.
I TOTALLY agree! Sadly, it'll never happen in this day and time.
Yup, will never ever happen. Animal farm, remember if the govt runs it, it’s not your friend.
They want them as dumb and sheepish as humanly possible, one notch above illiterate…
Despite the fact that stock prices fluctuate, what is the best method for capitalizing on the current market? I'm still undecided about investing $400k in my stock portfolio.
I was recently through an investing nightmare during the crash in march 2020. With the assistance of my advisor I have so far grown my dwindling portfolio of $145k to $480k
How can one get a decent investment advisor? I wouldn’t mind getting in touch with yours. In few years I will retire and my portfolio will definitely need some management.
My financial advisor is NICOLE DESIREE SIMON. I found her on a CNBC interview where she was featured and I reached out to her afterwards. She has long helped me with my portfolio and is exactly what you need right now.
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
Damm u got 400k!! Nice!!!
Wow, we are getting screwed 100 times worse than I thought. This is evil.
Peter is phenomenal in this space, it’s a crime the way he’s portrayed by financial media…
What I appreciate from this video is that Tom's platform allows Schiff the ability to speak freely about things like free speech, civil vs individual rights, and discrimination. It's sad to me that our culture is so afraid to have our feelings hurt that we censor and cancel others from sharing their truths and perspectives.
People who worry so much about feelings are just not mature.
That is the strategy of ‘marxism’ ( communism).. divide and conquer.. and use extreme PC, to destroy ‘free speech’.. this is right out of the ‘Communist Chinese Red Book’.. it’s reported..
Because guns, we are a powder keg.
@@marciamartins1992 Not really. Because of cartels, gangs, and other criminals we are a powder keg. But, a black man from Utah just testified that he is all for the 2nd Amendment. It was Democrats who took away their rights to own guns. And by the way, it was a Democrat, George Wallace, who wanted segregation back in the early 1970's.
sadly, Schiff is a ranter his ideas haven't developed much and he hasn't caught on to many complex changes that are happening. He's been wrong so many times that he is now more circumspect. But the bottom line is he doesn't like governments spending. This is not the only cause and the need for spending just hasn't percolated into his head. He must be really boring at parties. A really immobile target.
As a soon-to-be retiree, keeping my 401k on track after a bumpy 2022 is a high goal. I've read about investors generating up to $250k ROI in this present sinking market; any suggestions for increasing my ROI before retirement would be greatly appreciated.
Yes, a good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by folks with in depth market knowledge
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
"Carol Pasol Lewis". You can easily look her up, she has years of financiaI market experience.
Get off 📴 the site !
I love your interviews and perspective on most things and understand ads are a key revenue stream for you, but you have way more than other fellow top tier podcasters. Way too many man.
Seriously. Every 3-4 min. Is everyone else seeing this frequency?
Peter the 🐐 of economics
The discrimination against blk employees is very real and the effects on one’s life is real. Offensive.
It’s been here for a while. We make less in wages vs goods/services than the last “Depression” by 400% . People in the last Depression were all rich in comparison when you think about the debts looming over everyone’s heads vs their living costs compared to their income. Yes, having only watered down milk and a slice of baloney for dinner was better than working 60 hours at $20 per hour with 40K in student debt and 10K in credit card debts… Back then, you could buy a home completely outright with a quarter years’ salary. We’re in a DEEEEEEP Depression, so deep the economy is fraudulently represented in every system it uses.
Also what's worse than the last depression is the violent people that exist today.
totally agree!@@monkeyking-self-proclaimed7050
I don't have to tell you things are bad. Everybody knows things are bad. It's a depression. Everybody's out of work, or scared of losing their job. The dollar buys a nickel's worth, banks are going bust, shopkeepers keep a gun under the counter, punks are running wild in the street, and there's nobody anywhere who seems to know what to do, and there's no end to it! We know the air is unfit to breathe and our food is unfit to eat, and we sit watching our TVs while some local newscaster tells us that today we had fifteen homicides and sixty-three violent crimes, as if that's the way it's supposed to be! We know things are bad - worse than bad. They're crazy. It's like everything everywhere is going crazy, so we don't go out anymore. We sit in the house, and slowly the world we are living in is getting smaller, and all we say is: 'Please, at least leave us alone in our living rooms. Let me have my toaster and my TV and my steel-belted radials and I won't say anything. Just leave us alone.' Well, I'm not gonna leave you alone. I want you to get MAD! I don't want you to protest, I don't want you to riot, I don't want you to write to your congressman, because I wouldn't know what to tell you to write. I don't know what to do about the depression and the inflation and the Russians and the crime in the street. All I know is that first, you've got to get mad! [shouting] You've got to say: 'I'm a human being, goddammit! My life has value!' So, I want you to get up now. I want all of you to get up out of your chairs. I want you to get up right now and go to the window, open it, and stick your head out, and yell: I'M AS MAD AS HELL, AND I'M NOT GOING TO TAKE THIS ANYMORE! I want you to get up right now. Sit up. Go to your windows. Open them and stick your head out and yell: 'I'm as mad as hell and I'm not gonna take this anymore!' Things have got to change. But first, you've gotta get mad!...You've got to say: I'M AS MAD AS HELL, AND I'M NOT GOING TO TAKE THIS ANYMORE! Then we'll figure out what to do about the depression and the inflation and the oil crisis! But first, get up out of your chairs, open the window, stick your head out, and yell, and say it: I'M AS MAD AS HELL, AND I'M NOT GOING TO TAKE THIS ANYMORE
Have you actually studied the Great Depression? The Dust Bowl? There were no government services to help those people.
@@56whs the government "services" are precisely what has put us in the precarious and hopeless situation we are in today.
Outstanding imfomation well said 👍👍🌹
I like how Tom tells him how everybody is going to feel. Thank you for speaking for me Tom and projecting on me what really is how you feel.
Peter never ceases to amaze me how he can have me from, “HELL YEAH!” then immediately to, “WTH?!? This dude is delusional!”
I think if he is anything, it is pretty consistent, which I can greatly appreciate.
He’s very good at feeding you treats so you don’t notice the veggies he puts in there.
What a great conversation. Thanks for making it happen.
sure ...
... and all those who are not working at job that is adding real value will go and find a job to be productive tomorrow - because everybody has the capabilities to be better as the Germans, Swiss or Japanese - or cheaper as the guys in Eastern Europe, China or India - but, of course, providing the capital income (=capital costs) based on their costs of living ...
Capitalism = "passive income" based on capital - and now we do have this situation.
... but I am pretty optimistic, that people will find their jobs and be productive in the near future - and life in the USA will become better and better as every longer-term chart clearly shows: the American Dream lives!
PS: wages = the "price for work". Did Peter Shiff mention, that if prices go down, this includes the wages as well?
Question: why didn't he mention this?
Blind? Stupid? Lyer? a mix of it? ... I do not think, that he is a bad guy btw ...
huh@@HerrschmannNachmann
Why didn't Peter mention it? Because he's extremely wealthy🙄. Whilst I agree about printing money and handing it upwardly there seems to be a lack of connection with those people who are not upwardly mobile🤔 oh my mistake I forgot he's wealthy!
The guy is a complete narcissist who doesn’t care about anything but himself!
@@joncumberbatch852 he is wealthy because he is smart, if more people were as smart as Peter we would have a lot more wealthy people. The issue with poor people is not that they are poor, it's because they dumber than others.
When discrimination is the norm and is everywhere, you can't just go to the next business to get a service. This is why we have antidiscrimination laws.
You are spot on big man. Proud to know there’s another me out there.
The best part of this interview, for me, is Tom's calm demeanor during some of the most vile, vulgar, hyperbole coming out of Peter's mouth!
Valuable lesson in practicing "free speech"!
Thank you Tom!
But without regulation, it's historically accurate that companies treat employees like absolute shit
Very true.
Schiff really has it right. There is very little of what Schiff says that I disagree with. - Government is the problem.