Peter does not understand what makes Bond good is what makes the Paper money good. Thus if you the bond is no good the money has no value because there is not currency demand to pay the debt.
If I had a job, and was a US citizen, I'de donate for ya Peter! I've learned more about economics from you, and others like you on these youtube videos, then I have in my lifetime. I might pickup 2 books from you in the near future, and I don't buy books unless theyre very worthy of my book case =D
"This is not a bailout for the Greek people. This is a bailout for bankers who lent the Greek government more money than the Greek people can possibly repay, and the Greek citizens are casualties." This encapsulates the whole situation here!
@timesplitters333 screw that crap. he's got plenty of his own minions. i didnt mean that everyone bowing to the pope is a good thing! quite the opposite!
@IWashMyOwnBrain I agree they are bringing down the standard of living but overpopulation...i once thought that, but then If you think about it, everyone in the world can live on a piece of land the size of Texas comfortable with a yard. The U.S. needs to make all our own things and grow and buy our own food locally in order to fix our infrastructure. Otherwise we will end up like Zimbabwea
It's one thing to be tapped by a homeless guy for bus fare but when the homeless guy expects to make his living off you it's another story. The EU has bailed out Greece this time but I wonder how long the "adults" of the EU will continue to subsidize the juvenile delinquents of the EU. When they soon figure out that Greece is continuing to bleed money, something will happen (eventually), though it's difficult to guess when.
@hephernorth The Greek citizens would be casualties no matter what. They took the money now this is a way to get them out with least volatility. Imagine what would happen if they actually defaulted and all business would halt in Greece. That would create more casualties. It was our market that created the problem in the first place.
@MIT2004 I know we are, Peter was saying that we are getting these loans from china and other countries, essentially, they are bailouts. We wouldn't borrow or whatever unless we needed that money. but instead of using that to secure the financial and physical infrastructure we are bailing out the banks and anyone deemed too important or too big to fail. that's what I meant.
peter what should be the minimum and maximum that a given entity or organization can profit? within that are other qualifiers such as how good of a job was done or the value offered. for example BP messing up with oil in the gulf should be penalized. but at the same time money isn't a good form of motivation. this is really all quite confusing and full of unknowns.
@superphi uuh the chinese currency is doing great. Undervalued? They have 3 trillion in reserves, they are one of the few countries able to lend instead of borrow, and they produce everything, whereas we only consume more than we can afford. So I don't think we have to 'try' to lower ours for them.
Peter would be right if currencies were based on somthing like gold...but it's not so what he is saying does not apply to the current world economic system ....that is based on trust and security ...that is why bailouts are the right thing to do...Ok if you are still scared buy your silver and gold...
The poor man should start buying silver and the middle class ( if they still exist) should start buying goild b4 this economy gets out of hand and reserve notes become as worthless as Zimbabwe's excess money supply ! Leave Platinum for the rich if they choose to heed the warning signs.
One problem I have, is I doubt that lenders want to get paid with diminished dollar. Printing press makes dollar worth less, so why would lender want to lend and then get paid with dollar that has its purchasing power diminished by lets say 20% or 30%? Sounds like throwing money away
Yeah, basically the creditors can basically lend to anybody, and they will be paid off anyways. Whatever happened to the "predatory lending" hyperbole? Essentially there is no risk, since there is no risk, who cares?
@truthislibertyus Peter has an awesome track record. He has stated that markets do not go up and down in a straight line. How can you say that the worst is behind? Do you have crystal ball?
@grandmasterqz yeah but we are still commited to pay that debt. so we are the responsible one for that debt although i dont like using responsible here get responsible
The only question i have is, should we use real gold/silver coins or representative money? People can shave or clip precious metals off coins and that's why I ask.
@Picknroll6 LoL, I guess so. And I also think he tells geithner en bernanke to keep doing that. Both this and their financial policy are pretty extra-stupid.
Good point about stocks being owning real things. Gerald Celente predicted gold $5000. With this bailout it's looking good to go that far, though probably not for a while.
"Like any other debtor, the federal United States government had to assign collateral and security to their creditors as a condition of the loan. Since the federal United States didn... See Moret have any assets, they assigned the private property of their "economic slaves", the U.S. citizens as collateral against the unpayable federal debt.
@mark7996 What's more, the nail in the coffin is when our employers pay us in this obscene legal tender. I'd love to see the day when the market thoroughly rejects the USD and devises an alternate payment in a seperate medium of exchange. Then watch the gov't try to enforce its will back on the market. Hah.
@basspig They also pledged the unincorporated federal territories, national parks forests, birth certificates, and nonprofit organizations, as collateral against the federal debt. All has already been transferred as payment to the international bankers."
Can you imagine watching Peter on CSPAN discussing the economy, budget, debt and the FED from the floor of the Senate? Can you imagine the impact hes gong to make on fellow Senators, the Govt and the People? Give give give to his campaign.
@4KnowWon, LOL, it would be even funnier if we can force Congress (by law) to force them to accept silver!!!! Every payment would be closer to their own demise. Unfortunately, Congress has gone against our Constitution and only allow fiat money!
Not ' Europeans decided', but rather 'European governments decided'. It is the same in most Europe countries as it is in the USA: the governments don't give a hoot about what the people say.
Thank you, Pter - these are the best lectures on economy I've ever attended to.
Thanks Peter. I'm trying to convince people in Italy how that works
@MAZDAKPRODUCTION business would not halt in greece life still goes on no matter what money you use...
Peter does not understand what makes Bond good is what makes the Paper money good.
Thus if you the bond is no good the money has no value because there is not currency demand to pay the debt.
If I had a job, and was a US citizen, I'de donate for ya Peter! I've learned more about economics from you, and others like you on these youtube videos, then I have in my lifetime. I might pickup 2 books from you in the near future, and I don't buy books unless theyre very worthy of my book case =D
This is crazy, I bought a monster box last night and it's already gone up $314 today.
"This is not a bailout for the Greek people. This is a bailout for bankers who lent the Greek government more money than the Greek people can possibly repay, and the Greek citizens are casualties."
This encapsulates the whole situation here!
I don't suppose Greece has been holding any US debt...
Speaking of silver, silver is up over $19/oz at this time. Just glad the silver/gold ratio is down so I can get a little more gold.
Laughing all the way to the bank...
The people of Greece go Greeked again
And now people think this corporatism is actually capitalism.
I've got a $110,000 student loan that I can't pay back, would like a bailout about now.
@MirageScience Yes..shaveing cions is aet another good reason we went off the gold standard...
@drschnaggels We will see.....
Bail out is nothing but a modification of the terms. Allow Greece to default??? this is allowing them to default, this is restructuring their debt.
Ask yourself when survival mode arrives: what do you have to barter? Congress desperately needs Schiffspeak, starting with the bozo, Barney Frank.
@timesplitters333
EVERYONE bows to the pope!
@Donbadajoz ...
You didn't get your check from Obama yet???
Don't worry, it's in the mail.
@2237lemon Don't worry about the rich they are making plenty of money selling their gold to you...
@timesplitters333
screw that crap. he's got plenty of his own minions.
i didnt mean that everyone bowing to the pope is a good thing!
quite the opposite!
i solved it :)
Heh. As of right now, this video has 683 likes, and 1 dislike. That's incredible.
@luckynonluckyhd
Yeah no one has to work we just need to print money! A new economic reality is here!!!
YEAH!
@IWashMyOwnBrain I agree they are bringing down the standard of living but overpopulation...i once thought that, but then If you think about it, everyone in the world can live on a piece of land the size of Texas comfortable with a yard. The U.S. needs to make all our own things and grow and buy our own food locally in order to fix our infrastructure. Otherwise we will end up like Zimbabwea
It's one thing to be tapped by a homeless guy for bus fare but when the homeless guy expects to make his living off you it's another story.
The EU has bailed out Greece this time but I wonder how long the "adults" of the EU will continue to subsidize the juvenile delinquents of the EU.
When they soon figure out that Greece is continuing to bleed money, something will happen (eventually), though it's difficult to guess when.
@hephernorth The Greek citizens would be casualties no matter what. They took the money now this is a way to get them out with least volatility. Imagine what would happen if they actually defaulted and all business would halt in Greece. That would create more casualties. It was our market that created the problem in the first place.
@MIT2004 I know we are, Peter was saying that we are getting these loans from china and other countries, essentially, they are bailouts. We wouldn't borrow or whatever unless we needed that money. but instead of using that to secure the financial and physical infrastructure we are bailing out the banks and anyone deemed too important or too big to fail. that's what I meant.
peter what should be the minimum and maximum that a given entity or organization can profit? within that are other qualifiers such as how good of a job was done or the value offered. for example BP messing up with oil in the gulf should be penalized. but at the same time money isn't a good form of motivation. this is really all quite confusing and full of unknowns.
@superphi uuh the chinese currency is doing great. Undervalued? They have 3 trillion in reserves, they are one of the few countries able to lend instead of borrow, and they produce everything, whereas we only consume more than we can afford. So I don't think we have to 'try' to lower ours for them.
Peter would be right if currencies were based on somthing like gold...but it's not so what he is saying does not apply to the current world economic system ....that is based on trust and security ...that is why bailouts are the right thing to do...Ok if you are still scared buy your silver and gold...
The poor man should start buying silver and the middle class ( if they still exist) should start buying goild b4 this economy gets out of hand and reserve notes become as worthless as Zimbabwe's excess money supply ! Leave Platinum for the rich if they choose to heed the warning signs.
One problem I have, is I doubt that lenders want to get paid with diminished dollar. Printing press makes dollar worth less, so why would lender want to lend and then get paid with dollar that has its purchasing power diminished by lets say 20% or 30%? Sounds like throwing money away
Yeah, basically the creditors can basically lend to anybody, and they will be paid off anyways. Whatever happened to the "predatory lending" hyperbole? Essentially there is no risk, since there is no risk, who cares?
@truthislibertyus Peter has an awesome track record. He has stated that markets do not go up and down in a straight line. How can you say that the worst is behind? Do you have crystal ball?
@grandmasterqz yeah but we are still commited to pay that debt. so we are the responsible one for that debt although i dont like using responsible here get responsible
The only question i have is, should we use real gold/silver coins or representative money? People can shave or clip precious metals off coins and that's why I ask.
@Picknroll6
LoL, I guess so. And I also think he tells geithner en bernanke to keep doing that.
Both this and their financial policy are pretty extra-stupid.
Agree, I just got letter in the mail about thanking me for the donation, thanks. Just saw in CNBC that your going to be on in a few so everyone watch.
Peter for president AND Bundeskanzler. Peter I'm European and can tell you we need you here too.
I fear, this is going to end soon in a big bang.
@luckynonluckyhd money grows when you press the number '1' and then press the number '0' eleven or twelve times and press the 'Enter' key.
Good point about stocks being owning real things. Gerald Celente predicted gold $5000. With this bailout it's looking good to go that far, though probably not for a while.
Holly shit we have the money to bail out the whole world. My kids and their kids get to pay for it. Thats what really pisses me off.
Just saw some Swedish documentary, överdos (overdose). Featuring Schiff ;) bet there is some english version out there or coming too.
@vertexclimber Yes the standard of living the world over is being dragged down by the overpopulation in China and India....
@jmb765 I think lame ass human behavior is the cause....humans have very little control over what goes on in this world...
@THELASTBUBBLE The greeks system has already collapsed...they are just being propped up for a little while longer....
Don't worry America. America is the greatest country in the world, I'm sure u can out smart the Chinese
@xp19375 The problem was the banks(your 30 people) ran out of cash so the fed filled them back up...
@2237lemon The Middle class should also buy silver. It's got more upside. Up 10% in the past week.
If most of my money is in a 401K, is my next best option is to buy PHYS (Sprott Physical Gold Trust)?
i disagree. the european entitlement mentality(socialism) runs deeper in europe than in the usa.
"Like any other debtor, the federal United States government had to assign collateral and security to their creditors as a condition of the loan. Since the federal United States didn... See Moret have any assets, they assigned the private property of their "economic slaves", the U.S. citizens as collateral against the unpayable federal debt.
@mark7996
What's more, the nail in the coffin is when our employers pay us in this obscene legal tender. I'd love to see the day when the market thoroughly rejects the USD and devises an alternate payment in a seperate medium of exchange. Then watch the gov't try to enforce its will back on the market. Hah.
Peter,you are a true statesman.You've been warning us for years.I agree with you Seanboy80.
@Drake3209 That's the way the world works...To the responsible go the responsibilities...
A dog mindlessly chasing his tail with total economic disaster as the final consequence..
@basspig
They also pledged the unincorporated federal territories, national parks forests, birth certificates, and nonprofit organizations, as collateral against the federal debt. All has already been transferred as payment to the international bankers."
Can you imagine watching Peter on CSPAN discussing the economy, budget, debt and the FED from the floor of the Senate? Can you imagine the impact hes gong to make on fellow Senators, the Govt and the People? Give give give to his campaign.
@4KnowWon, LOL, it would be even funnier if we can force Congress (by law) to force them to accept silver!!!! Every payment would be closer to their own demise. Unfortunately, Congress has gone against our Constitution and only allow fiat money!
Not ' Europeans decided', but rather 'European governments decided'.
It is the same in most Europe countries as it is in the USA: the governments don't give a hoot about what the people say.
Thanks for speaking the Truth Peter. Keep up the great work. We have Faith in you....
@jnkhd where the hell does the austrian economic system say to be a debt slave?
"europeans decided", we never decided, no one ever voted for those guys they were never democratically elected.
keep the good vids coming
ahahahaha peter schiff uses gmail ~1:40
@truthislibertyus
Give it time, this mathematical equation has yet to finish
You should write another book based on how Europe and America will collapse.
I love your vids you are very easy on the ears too, keep em coming!
I just finished your new book. "How an economy grows and why it crashes".
@loai050 Google: Max Keiser financial terrorism
There are many clips.
Pete, your the man, we need more politicians and truth tellers like you.
@wunderbeast LOL you're right, now that you mention it he does that at the end of like every video.
@RAMKING61 Please let us have the name of the Max Keiser clip, thanks.
thanx from europe peter !! keep us updated by your clear vision.. !
@seanboy80 Never attribute to malice that which can be adequately explained by stupidity.
@Donbadajoz
Do you also get sad when you can't have your cake after you've eaten it?
@ziggy2sound4u Yes inflation will help the housing situation...
@ziggy2sound4u Yes gold and silver are already inflated...
@GuildF40 Don't steal, the government hates competition.
@CTOL1 im in the same boat. I have been unemployed for 6months now
hey Peter. How do you like the price of gold today? LOL
@tpsisokayiguess Haha That's one way of looking at it.
@zmc33 ok good for him, now can you do more for him:)
@1INACTION Good then we will owe them nothing.......
@93msinclair Those in the Euro all voted for it...
@seanlaca
wow u obviously know nothing about Peter Schiff
No one is accountable for their actions anymore.
Wow this new youtube format really sucks....lol
@grandmasterqz You see he makes no sense...
DAMN that Ben Bernacle and ally greenfin
@residentzombie lol VERY TRUE
@Donbadajoz
You may get that chance.
Hard to give a thumbs up to bad news
@ABETRMAN ending in war
Its very sad what europe have done
Time to make a purchase at APMEX
all confidence is lost
The genius speaketh.
@luckynonluckyhd - LOL
@19TEC85 lol