They do fear us, did u see how the capitol evacuated because they saw smoke that came from a hobo den? They have a guilty conscience, they know they are thieves
@@ArcanePath360 If we got a Jefferson they would impeach him because he's not part of the super elite that are getting rich off of inside trading and selling out to other countries. They would keep him hog tied in lawsuits until the end of his term.
The only people with the steel nerves to become a successful politician are wolves in sheep’s clothing. That’s why everything’s fucked up and always will be. Sure a few good ones get in here and there but they get eaten or corrupted by the rest of them eventually. Don’t rely on politicians to help you. You can rely on them to screw you over though
@@user-oy9zy4ds9m It's less of an us vs them scenario, and more about an honest look into human nature. Politics of today is still a competition for resources, still an evolutionary event.
If you can't see the inflation when you buy groceries you're not paying attention. Also take into consideration smaller product/ portion sizes. That's the way they are trying to hide it.
Most people can't because prices aren't going up a crazy amount but the size and portions of the products are getting smaller which is also a sign of inflation. PepsiCo, Quakers, Kelloggs, General Mills are all companies that have reduced the amounts in there products and are forecasted to do it again from what I've been told next year as well. But the prices are going up but I think a bigger underlining inflation is in the reduction in the products people get because it is the least obvious.
there's no alternative. Man cannot live on his own, that's why you should vote competent virtuous people into office. Republicans vote in the most corrupt, unqualified idiots into government and then fucking complain about government lol. Bernie and warren ahve wrote books on how to solve the issues we're having but hey man....orange man says he'll win bigly.
As an aside, does anyone here know where I can find Trump's deleted tweets from the capitol riots day? People are claiming they incited the violence, so I want to read them for myself.
Agents of satan planning to crash economy to introduce digital currency using mind control rfid chip implants. Endtimes prophecy is being fulfilled. We are lving out book of revelations. Jesus christ is coming back for the rapture(this decade) Millions of true born again christians all babies and small children under age of accountability will suddenly vanish from the earth. Dont get left behind from rapture to face great tribulation coming to earth. America will be nuked and invaded by russia and china in near future to usher in new world order. Nwo beast system led by antichrist obama and false prophet pope francis ready to take over after rapture. Dont believe the coming massive deception of alien abduction explanation for rapture from obama. Fema concentration camps will be activated around the world post rapture. Refuse coming vaccine and rfid chip implant aka mark of beast at all costs.
well gangs have members that always gangbang their sets and kill opposing gang members, they participate in human trafficking , im not sure if you know this but they also torture people for snitching, they also inhumanely rape women. Im not sure if governments do any of this?
@@antoineroquentin2852 ya search edward snowden, you have a lot to learn my friend 😂 mans been in hiding for years cause he told everyone the NSA is spying on every single american
@Idread Its already happening if you actually watch what's going on behind the curtain. Repo market crash, fed buying mortgage backed securities, junk bonds and corporate debt and interest rates at zero with no ability to raise them. All the while China is building the belt and road initiative which will force the majority of the world to switch to Chinese Juan. Check out George Gammon. The Fed is running out of options and other countries are starting to see the cracks in the US foundation
Government is not like the mafia. With the mafia they allow you to negotiate they have a method of conduct. Governments change and reneg breaking promises all the time.
It's almost as if Peter makes 10s of millions off of poor suckers who listen to his failed economic outlooks and shallow regurgitated talking points for decades... Almost as if the deflationary forces have nearly wiped out the inflationary forces if not for money printing. Velocity of money has crashed since the mid 90s for example, technology is exponentially improving, etc, hence why interest rates are so low (not due to manipulation you dum dums) fred.stlouisfed.org/series/M2V
His school of economics has been around for a long time. It’s the Austrian school of economics. It was thrown out the window when the central banking cartel decided they wanted to take over the world with fiat money.
I love Peter but he's been a doom and gloomer for so long. How do we know that this crash is going to happen around the corner. He said something similar in 2008 and I'm still waiting. But think of the money you would have made if I would have invested in a minute in 2007 all those years of aprox. 4 to 4% commissions on his mutual funds right. I wonder if he ever refunded some of those commissions?
My little sister used to my ask my father to buy her something.. My dad would say I don’t have the money... My little sister would say , Just write a check daddy. Lol I think that’s the mentality that many have today. Lol
Haha...kids...I use to say the same thing... My son told me when he was 6 years old "just go to one of those machines you get money out of" 😆 Your comment brought back memories 😆
@@deltaxcd to a child? Really? A child wouldn't understand the concept of money, even if the father would to tell her about the concept of money, that child would forget about it quickly
@@rdg760jr2 well, you can explain that you get money by suffering and pain by doing things you hate, not that hard to explain. children will be understanding it more on the emotional level copying emotion of their parents if you show great discomfort when you need to spend money and also show big pleasure when you get paid and preserve it the child will also understand that making you spend it is not a good idea. If chid does not see any discomfort in their parents when they spend money he will also assume that it is nothing special.
Schiff does make a number of great points. But he does not address a couple of key questions. 1) The rest of the world is printing money even faster and running up even more deficits than the US is. To wit Europe, Japan, and China and maybe Russia as well. These are the major alternative currencies to the US dollar. So one has to question how the US dollar will really crash given that it is a relative race to the bottom for all of the major currencies. Schiff needs to address the relative nature of currencies and the relative nature of national deficits.Furthermore, despite the near ZIRP in the US, other countries are even worse with effective negative interest rates on trillions in national debts. Such is also a factor that Schiff needs to address in talking about the crash of the US dollar. 2) Schiff talks about US inflation and the projected large rise in such over the coming months and years. Yet he fails to talk about the manipulation and reporting of real inflation is in the US and what it has been for quite some time now Is the CPI as reported by BLS even a remotely accurate measure of what real inflation is in the US. Remember that CPI has been reporting inflation in goods and services as approximately 1-2 percent annually for many years now. But alternative inflation measures such as ShadowStats or The Chapwood Index have been reporting real inflation in the 5-10 percent range for years now. One has to remember that the CPI definition of inflation is not the same definition of inflation that existed in the 1980-90 period. The BLS made significant changes to the definition of CPI inflation such as so called heuristic adjustments, substitution adjustments, qualitative adjustments, etc. And as a result CPI inflation is consistently reported as a number lower than it would previously have been. Nevertheless, one has to give Schiff great credit for calling inflation the tax that it really is on every american citizen and consumer. That is right on and something that every citizen needs to clearly understand. And secondly Schiff deserves great credit for calling out DEFLATION as the desired condition and most beneficial outcome for the vast majority of citizens. He does a decent job of explaining why in a few examples. But one wishes that he would explain that deflation is the natural outcome of real capitalism and real free market enterprise. This is so because market forces such as productivity, technology, innovation, competition, scale, trade, competitive advantage, etc lead to more and better goods and services over time by the productive sector. And as a natural outcome the quality of goods and services should and does rise, and the prices should fall. Sometimes it does, but often it does not ... especially in those sectors that have monopoly or quasi monopoly dominance or in areas like government controlled services. Think about healthcare as both a quasi monopoly plus government controlled good or service. Think about cable network quasi monopolies. Think about the military and never ending increasing costs. The list is very very extensive in the US economy. One gets very annoyed at the Federal Reserve and their persistent and false diatribe about the goal and need for never ending inflation. As Schiff rightly points out that is incorrect and not what is in the best interests of citizens or consumers. First of all the Federal Reserve does not have a mandate for inflation .... their mandate specifies "price stability". They have just falsely and essentially illegally converted that into a persistent goal and target of annual inflation. Secondly, the Federal Reserve is totally self serving of both themselves and the federal government (and corporate america and the banking industry) in terms of attempting to foster persistent inflation. One hopes that Schiff will address at some point some of these issues in his economic masterclass.
or just any 1st year economic student of any type.... every person with a pinch of economic knowledge knows money is just paper (or a click), it is nothing without a production counter-value.
@ARTOFMUSIC There is somewhere between 100 and 150 trillion in outstanding debts owed between private and public interests in the US alone, if not more, and that range of figures does not include the 150 trillion or more in unfunded or underfunded liabilities. The total supply of US dollars (according to M3 broad base monetary measurement) in the US alone is slightly less than $20 trillion as of the end of 2020. The federal government's public debt alone is around $30 trillion, which is $10 trillion more than all of the money currently in supply according to the M3 measurement.
@@alienlifeform7490 if you were george bush jr. And youre driving by a guy at a bus stop. Is he equal to George in George's opinion? Is George gonna say "im a lucky guy. Ive never had a "dream car" i always a car. That i bought. That i wanted. And I did it pretty much as soon as I wanted it." Desires for george dont last long enough to become a "dream home or dream car' because he just acquires those things right away. Try calling the police on a person like this. The 911 dispatcher will be like "uhh you saw a body going into this house? Sir.. that is george bush jrs house. This number is for emergencies only. -click- It doesn't matter if you ACTUALLY SAW SOMETHING. They won't believe you. These people are shown every day of their lives that they are special. Superior. And live a special and big life. When they see someone at a bus stop. They dont see it as another human like them. They see it as a co.ckroach slave that knows nothing. It's his world. You just work here. Thats how they think. They have sick minds from the se.xual deviance they get into. And it starts before they're 18. And it gets sicker.. and sicker... and sicker. The older they get. Thats just their se.xual perversion from they decadent lives full of gluttony and over indulgence
Imagine how high inflation would be if wages kept pace with the cost of college and healthcare. Ribeye would be 5x what it was in 2010, and housing would have doubled. The primary driver of consumer goods inflation remaining relatively low over the last two decades are low wages.
@@NickMart1985, the cost of living continues to go up. Wages are stagnant. Your theory doesn't hold water. If it did, cost of living would stay low since wages are low.
@@JTDyer21 The price of food has hardly budged relative to "financialized" services like school and housing. In fact, there is real deflation in many sectors. Entertainment being one of them.
@@NickMart1985, apparently you haven't been to the grocery store lately. Groceries are outrageous. $100 used to buy a cart full. Not your lucky to get 1/3 of a cart.
Ever since 2011, when I was in college, this guy was sounding the alarms about how the economy was about to collapse. I bought it hook line and sinker. My only advice is, it always feels like "RIGHT NOW, EXACTLY NOW, IS THE END OF THE ECONOMY!!!" And in 5 years, It will feel the same way. and in 10 years, it will feel the same way. And in 15 years, it will feel the same way. Don't live life thinking the economy will collapse, live life like your two hands can build and grow something. This guy makes money making you feel emotionally compelled he's the prophet of your survival. Don't waste 10 years listening to this guy. Do or make something IRL. Like start a business when everyone is telling you the sky is falling.
Amen. This guy does typical sales man pitch. Make you emotional then talk about his hedge fund and how he can save us. what an ass. if dollars about to fail, why should I hand it over to you ?
It doesn't mean that he's been wrong. What the central banks have done in the last decade is unprecedented in human history. They are playing a really dangerous game. The economy should have collapsed already. We are living in really strange times. The eventual collapse will probably be the biggest in history. But it needs to happen eventually. Of course you need to live your life regardless, there's no point worrying about things you can't control. But you can be smart and prepare for different future scenarios in various ways. Just my two cents.
So true he has been saying this for 12 years. Imagine how much he would have lost you if you would have listened to him in 2010 when he was preaching the same thing.
@@lifeisshort2016 you are attacking the person, I was simply talking about the arguments presented in the video. He can still be right, even if the stuff he sells has been underperforming.
Rome never collapsed. Just changes it’s guise under different names. USA is the modern day Rome. We are all still under Roman Law. The Vatican and Jesuits rule over us
Best way to rob the people blind is liberalism. Turn people into perverts and drug addicts and the banks are free to loot the nation. They did it here. They turned free speech from protecting political speech to pornography. Interesting how our rights are being twisted and distorted.
@@LibertarianRF 30M$ is pocket change for social studies and universities. Also think about the returns Packistan will receive from this investment. It's a "you do this I do that for you" situation.
"Trusting the CPI would be like assuming the mafia is going to give you an accurate report on crime. If you hired the mafia to study crime, you wouldn't be surprised to hear there wasn't any and there was no need for more police." That was probably one of the best analogy's I've ever heard
Yeah, and with online censorship now, imagine if Biden gets Google to block this kind of talk on the grounds that it "INCITES" mal-investment or hampers the government's ability to refinance its debt. They could stoop that low at the rate things are going.
Pete: The government IS the economy now. When rates turn negative, thats when you know we have arrived at the terminal stage. Can anybody tell me when was the last time rates have been this low, for this long of time? How about: NEVER. That right there should tell you something.
Japan has been ooperating on negative interest for 20 Years......Other countries recently have also gone negative.......Do the research......Rates have declined steadily since 1981....Paul
Actually what we’re seeing is economic stagflation the economy is stagnating like fuck and at the same time we are experiencing consumer price inflation.It’s the worst of both worlds the cash is scarce for us at the same time prices are increasing
bingo, and most of the monetary printing is winding up in the real estate and stock markets, just making housing less affordable for instance. Thanks to "modern monetary theory"
But they will not teach this in college, my daughter s economic teacher was a zombie, no common sense, no real world experience, awful and incongruent with reality
Saves money for that last several years to buy home just to have home prices inflate at record pace + value of savings go down (California to top if off)...
I’m in Missouri and watching this at 4:44 am Investments are up. Solar is my stock. Living good off of retirement. I just quit Amazon and Walmart along with other big stores. for buying. No longer will I purchase new clothing as much cheaper used. From now on I buy used if possible.
"I'll start to worry about that when it happens" - most responsible and strategic advice ever received by almost everybody I try to warn of dire upcoming crisis. Americans don't understand things are much worse then they can even Imagine for America.
If they achieve the "great reset", even people like peter probably wouldn't be safe. Their message to the world in one o their videos regarding their prediction from 10 years from now was that "you'll own nothing, and you'll be happy". They're (the World Economic Forum) is pushing this narrative globally right now it's not some tinfoil hat thing.
Great reset will not happen this time and if it will happen it will be too great to survive for western civilization. Socialism is coming and everything you accumulated over generation will be taken away (in form of tax most likely) Gold is also going down in the long run
@@jaredroussel Gold is going down because it is a way how people accumulate funds for a rainy day, and that rainy day has come. Bitcoin is also to crash at some time because it is a Ponzi scheme. It is extremely overpriced and unlike gold it has absolutely no real value. All those things are nothing else than scams designed to sterilize money and prevent inflation. the reason why we don't have inflation is because people throw all money into gold stock bitcoin rather than spending it in the real things and raising ther price.
@@jaredroussel It is all doom gloom because we are experiencing the biggest economic crisis in human history. But either way, you should look at the fundamental issues, people buy gold bitcoin, and any other "investments" when they have money and sell them when they need that money back. the entire idea of "hedge against currency devaluation and price inflation." is that you somehow transfer your current wealth into the future when you will convert it back into some kind of product. it makes no sense to hold gold forever because you can bring it to your grave. So either way, all those things have to be sold someday and the only question is when. The fact that there is a limit to how much bitcoin can be generated is nothing good because there is no system to equalize users. we have a ridiculous situation when early adopters own pretty much all supply that exists and novices have no hope to accumulate anything significant ever. A similar problem happens in the real world where 1% own 99% of all assets and the rest have no hope to get anything. Novices that enter this system have no incentive to even bother with anything because there have no chance to compete and this is why the system is going to crash and prices will go down because nobody will be buying anything. Rich people already converted all their money into gold and other speculative assets poor people have no money to spend on such stuff. so to whom you are going to sell your gold if you need money again? Who has money to buy it?
@@jadezee6316 You are correct. Most important task is to do your own research. I have an affinity for Economic History so I studied the key economists throughout history over past 250 years. You must know that all of the Great economists read David Ricardo, "Karl Marx", John Maynard Keynes, Schumpeter, Ludwig Von Mises, Alfred Marshal and Simon Kuznets ...etc. For me, it has been so luminating!
Peter Schiff is one of the smartest and most articulate men I've heard in a long time. What sound explanations he offers for basic financial understanding! Thank you, Mr. Schiff, for making these videos possible.
Peter I would love to hear an episode on the show about how we are going to rebuild American society after a currency crisis. I would love to hear the details of reestablishing capitalist principles. Thanks!
@Yog Sothothologist yes and he asked about the capitalistic principles that will help us build back. I'm saying the country is going to move to socialism not capitalism unfortunately.
Wide Hotep. Ok, where did the Private Banks get that extra capital to loan out? Did they print it? Someone did. Silly, Peter Schiff doesn’t make economics statements that are “wrong.”. Inflation is taxation.
@@JeffSmith-fu9hu Please watch the TEDX video on youtube "Ole Bjerg, where does money come from?" Also, do a google search for "Bank of England: money creation in the modern economy." Both are crystal clear: all money is created when BANKS issue loans. Peter Schiff is a disinfo agent who most-likely works for the bankers. His job is to confuse you so you will blame the "government" for inflation and business cycles, when really the bankers cause all this misery.
“If you think the cpi is giving you a accurate read on inflation that would be like assuming the mafia’s giving you a accurate report on crime” I see what you did there 😉 14:50
I know right. Even gold & silver or whatever i feel will not help us here. It will be luxury to survive in the middle of nowhere in a tent... Thats how it feels to me. But nobody cares enough to prepare properly and they have some guns so... watch ur backs!
Faith without works is dead! Obey your Most High God with ferver and fear, not lukewarm belief. How do you obey? Read His living Word. That's how you stay close to God. 🕛
@@kimbuck-2 Focus on your foundations then hedges (against inflation and against collapse), then focus on making your assets "bullet proof" basically govt can't seize your assets. Get out of consumer debt, focus on making more income, consistently save. Then focus on acquiring investments to hedge against inflation like stocks (don't speculate) and real estate (pay off your residence). After that, focus against the currency collapses by buying gold, silver, and even crypto at less than 5% of your 'hedge collapse.' Somewhere along the way, get into gunns and bulllets in case haters want to try to steal from you.
Every bitcoin investor right now is just smiling at the price of bitcoin as it held strong and indeed valuable enough to generating good ROI. More persons are gonna become millionaires and we have bitcoin thanks for that
Bitcoin investment just like every other form of speculative investment where you trade commodities to determine which gain or losses against another in other to make profit just like in forex trading
@@oliveralexande6205 :Offcourse, in bitcoin investment suitable risk management is aimed at reducing the loss rate thereby giving you the better chance to win your trade to ensure good ROI
Not really, inflation has been coming down for months now and the SnP is up from when this video was released. Schiff calls for inflation and the economy collapse pretty much every year.
I have credit cards with limits that are way more than I could ever pay off if I maxed them out but I always pay off the balance every month and never buy anything I couldn’t otherwise purchase with cash. Too many irresponsible people.
@@SumOneSomewhere I know this is random internet advice, but if your credit card limits are way above what you’d ever want to pay if they were lost, stolen or hacked, I’d ask the cc company to put them in a range where it wouldn’t be so bad if that were to happen. Get the usage notifications activated, one for travel and a lower limit one for strictly online purchases. I’m telling you these things happen on a regular basis now.
@@SumOneSomewhere Yeah I just turned on purchase notifications and texts on my discover and i have a limit 6x my monthly income but I rarely even use more than 3% of my limit. Plus Discover is excellent with customer service idk about other companies though.
@@immaculatesquid I think you’re allowed to use up to 10% before it hurts your credit but I don’t use nearly that much. I seen my limit when I got approved for my last card and about crapped my pants.
Gold is the most valued because it is most useless... the more useless a metal is and the prettier it is, the more valued it is, because the incentives for competing interests are diminished. People only buy gold if they want to look at it or they want to hedge against the economy.
No, it's just the politicians only think within the next term limit, they are voted in based on how good they look to their voters, not on wether or not they make good decisions long term. Just like social security, they spend the money, cause by the time they have to pay they will be out of office.
@@dariocastro-lopez3589 the sheeples are voting in a socialist government let alone the globalist corporations wanting socialism. And bread crumb stimulus. The dollar is gonna crash hard.
Stop buying shiny metals and rocks for stores of wealth. That is what cavemen did👎Buy bitcoin like a futuristic human. Digital scarcity is the new demand💯💯💯
Ezekiel 7:19 “They will throw their money in the streets, tossing it out like worthless trash. Their silver and gold won’t save them on that day of the LORD’s anger. It will neither satisfy nor feed them, for their greed can only trip them up, (causing them to stumble into sin.)
@Erik Mikkelsaar self sufficient countries will survive India imports 80% of oil rest everything we make Software we Export a Lot Electric vehicles are taking of here that should bring down our oil imports
@Erik Mikkelsaar if i could give you the thumbs up 12 times I would have.. I stumbled upon a Venezuela documentary yrs ago and could not believe what happen to them not once but twice....
@@diyandimitrov5625 put your faith in Jesus Christ not man or the things of this world. It is soon to pass. God will provide your daily needs. Do you trust him at that?
Imagine this knowledge as a standard to teach economics in our schools. The government will never allow this to be known in our youth. Its up to all of us to share this with everyone. Spread the truth.
I was thinking that during this video, why isn’t this stuff taught in schools? But then I remembered the dumber people in general are, the better for the government.
What are you talking about, the SnP is up 300 points in profit from when this video was released. You would be down and missing out on 2 years of dividends if you sold when this video came out. Peter has been wrong about the US economy every year since 2008 lol.
Are lockdowns less about a deadly virus and more about suffocating small business and the middle class? Aren't the effects of lockdowns worse then the cause?..
S Dakota NEVER closed a single business and never mandated anything. The governor, Kristi Noem, just recommended (not madated) certain things like masks and social distancing but never forced anyone to close. California & NY are doing worse in covid deaths per million.
Lockdowns are more lethal than the virus- Dr.Dennis Modry BSc, MD, MSc, FRCS, FACCP, FACS, Clinical associate professor, Cardiothoracic Surgery, University of Alberta, Founder and director of the Heart, Lung , and Heart-Lung Transplant Program, Director of the Cardiovascular Intensive Care Unit (84-2015)
@Cheryl Jensen Inflation is perfectly normal when banks are responsible for 97% of all new currency/money creation and expansion for centuries now, due to the nature of the fractional reserve system.
That's nothing new. It's well known and governments and centralbanks openly say that their aim is an inflationrate of 2 till 3% pa. The point where they lie is about how high the real inflation is
I'm guilty of a thumbs down. But only because a took a couple of economics classes while in college. And I aced both of them. I'm sorry to say it, but Peter isn't teaching anyone here about real economics. Sadly, his viewers believe that he is.
@@krys9990 I just made a decent amount of money and am still making money on BTC, yet I liked this video. I liked it a lot actually. Idk why people hate on BTC. It's highly volatile and the markets are always open. Buy low, sell high. Easy money. It won't replace fiat currency, both for technical and obvious reasons. But it's useful for certain things. If America fails and people no longer trust dollars or banks, crypto, particularly monero and bitcoin, may become very valuable. As an aside: It's so sad that most people, including our leaders, can't see beyond the immediate future. People are too emotionally driven and impulsive. We need to fix the culture and education system so people start to think again. Historically, we've had to learn it the hard way, but perhaps we could do something novel this time. In the near term, we need politicians who can win the favor of an emotionally driven populous, but then implement responsible fiscal policies. Hard times create strong men, strong men create good times, good times create weak men, weak men create hard times.
@@gerri577 Care to share what's wrong with this video? If you have a better idea, I would be interested to hear it. Were these the same classes that the people who are crashing our economy took? I'm not trying to be rude, but I'm going to need more explanation than that.
The private central banksters must keep us financially enslaved with fiat debt dollars to control us. Their sick demonic POS that need to be eradicated.
Hey @money sun - any chance you wrote your TH-cam comment on an iOS or ANDROID device running a QUALCOMM processor, or PC / INTEL setup? Anyway, indeed we don’t know what we’re doing here. Can you tell us from which grand nation you hail so we can take a look at how you guys do it so we can figure a few things out? I mean, how to better manage our $20 Trillion economy - because technologically we seem to be doing something right..
It's almost as if Peter makes 10s of millions off of poor suckers who listen to his failed economic outlooks and shallow regurgitated talking points for decades... Almost as if the deflationary forces have nearly wiped out the inflationary forces if not for money printing. Velocity of money has crashed since the mid 90s for example, technology is exponentially improving, etc, hence why interest rates are so low (not due to manipulation you dum dums) fred.stlouisfed.org/series/M2V
Never invest with this guy. His investments have been a complete disaster. He has been bashing bitcoin since it was 10 dollar. His clients are down 50% the last 10 years.
Because money is debt. Money doesn’t come in the form of grants from the govt level which trickles down to banks. It comes in the form of loans with interests owed. Wanna get really technical? Money comes from the word Credit. Credit comes from the word Credo, which means trust in Latin. Every wonder why it says “in god we TRUST”? on the bills? Yea...
@@thatisabsolutelykooooge2211 you are mistaken. Think all the way back. Money = effort and assets. Go back to simple trading (barter) and you will see this is true.
@@thatisabsolutelykooooge2211 don't you wish? Don't you wish money spouted out of rainbow unicorn horns and rained down on all the nice people? A large part of the problem is that the bankers have separated the worker from the wages and the goods from th3 actual value. You may not remember it being any other way, but I am old.
My fan stopped working and has been making a clunking noise all week. So I called up a local company, called Schiff's Repair Co. and after explaining the problem the repairman stopped by and finally fixed it for me. The whole problem had a really simple solution: The Schiff had to hit the fan.
@@SuperEddie0228 TX, Fl and the east cost get floods and hurricane's, midwest get tornadoes, north get snow storm. You can't hide from the elements, just adapt. In Puerto Rico we have concrete homes resistant to hurricane's
@@madelineortiz6648 what happened in 2017 if PR homes aren't affected by hurricanes? That refugee farm you speak of, does it have hurricane resistant crops and livestock too?
Panama: Never gets canes, no property taxes. And it has a bargaining chip that has immense power in global politics. There is a reason China is trying to buy land in Nicaragua to make their own canal, because Panama gave them the finger lol. It may be longer, but it is also easier to build, only needing to blast/ remove an 11 mile path. The rest can be made from existing rivers and lakes.
Upcoming inflation = My parents bought a house in 1973 for $43,000.. In 1979 when I got out of high school the house was worth $85,000.. That's coming in spades.
Printing money is a major concern. However what I m worried about is that China and a few countries might collude to take steps to ensure that the Bretton Woods agreement is no longer valid. This in essence will not make us the global reserve currency and will dampen our ability to have “free funny money”! If this happens - we ain’t seen nothing yet!!!!!
True but these trade deficits are too large. We don't make anything here anymore. When currency is tied to gold again goodbye dollar, hello Yuan or some type of world digital currency. Yikes
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“A government that no longer fears its people
Is a government that has out-lived its purpose.”
---------->(President Thomas Jefferson, 1809)
They do fear us, did u see how the capitol evacuated because they saw smoke that came from a hobo den? They have a guilty conscience, they know they are thieves
@Lisa I think Andrew Jackson did well too a few years later...
We need a Jefferson now. Unfortunately they don't exist in a world that would refuse to recognize the genius of common sense.
@@ArcanePath360 If we got a Jefferson they would impeach him because he's not part of the super elite that are getting rich off of inside trading and selling out to other countries. They would keep him hog tied in lawsuits until the end of his term.
@@jacksparrow3025 Yeah, all sounds familiar :)
"The urge to save humanity is almost always a false front for the urge to rule."
Ellsworth Toohey reincarnated
The only people with the steel nerves to become a successful politician are wolves in sheep’s clothing. That’s why everything’s fucked up and always will be. Sure a few good ones get in here and there but they get eaten or corrupted by the rest of them eventually. Don’t rely on politicians to help you. You can rely on them to screw you over though
There's no such thing as altruism....
@@user-oy9zy4ds9m It's less of an us vs them scenario, and more about an honest look into human nature. Politics of today is still a competition for resources, still an evolutionary event.
Only in the eyes of the corrupt
If you can't see the inflation when you buy groceries you're not paying attention. Also take into consideration smaller product/ portion sizes. That's the way they are trying to hide it.
Most people can't because prices aren't going up a crazy amount but the size and portions of the products are getting smaller which is also a sign of inflation. PepsiCo, Quakers, Kelloggs, General Mills are all companies that have reduced the amounts in there products and are forecasted to do it again from what I've been told next year as well. But the prices are going up but I think a bigger underlining inflation is in the reduction in the products people get because it is the least obvious.
Not surprising. A lot of oblivious people out there these days. They don't even believe their own eyes.
@@keeganwebster3419 that is good less calories HAHAHA
Especially with cereal.
@@danmiller2940 Ya cereal is a complete waste of money. Honey nut Cheerios taste good but have absolutely nothing to them. ha
A Government Powerful enough to give you everything you need, is also powerful enough to take everything you have!
there's no alternative. Man cannot live on his own, that's why you should vote competent virtuous people into office. Republicans vote in the most corrupt, unqualified idiots into government and then fucking complain about government lol. Bernie and warren ahve wrote books on how to solve the issues we're having but hey man....orange man says he'll win bigly.
@@caob1876 damn son you got chronic TDS 🤣
Trump is gone has nothing to do with what the OP commented. Nobody cares about Bernie or Pocahontas either
@@caob1876 who was the last virtuous man dems put in office? Those two clowns of yours writing some dubious books proves nothing.
@@caob1876 Hahaha.
@@joeym2197 You should thank him he just woke 5 more people up, just not exactly how he imagined.
" A friend with weed is a friend indeed but a friend with gold is the best I'm told" - Leaprecaun
😎
At least you can smoke weed.
Thank you! I needed that! Made my day
And a friend with bitcoin needs a kick in the groin
@Stealth "...Leaprecaun [Leprechaun.]"
Peter's father was an amazing man, the Washington Mafia, murdered him.
I hope he's at peace.
America is a republic, a banana republic.
What did he do?
@@pedrogorilla483 He was a tax protester and went to prison for it
Full of banana repiblicans.
@@ricomajestic
Vote Joey get Donnie vote Donnie get Joey.
@@ifyouvote.5005 Same crap different day as Celente says
*"It may look like a crisis, but it's only the end of an illusion." -- Gerald Weinberg*
Or the beginning of a nightmare
Or a window into your own reality created right here on earth. Into this world you were born into magic, and into this world was magic born.
*Berg* .....
So true
"Hell is truth seen to late"
He's concerned about debt while all of us patriots are concerned with how the Pakistani Gender Studies are going.
Right on. That keeps me awake at night.
They better think about democracy here we're heading commie .🤗
Do it detect a little sarcasm?
No shit! LMAO! Can't afford to get a tooth pulled without being forced to take their covid swab. But welfares passing out castration and free vaginas.
@@alexledezia3675 let them settle their own matter themselves, and lets us do our own thing. thats patriotism.
"Asking government to report inflation is like asking mafia to report on crime." I actually laughed out loud he should try a comedy routine
Excellent!! Thanks!!
He actually did do a standup routine in a comedy club a while back. Look it up, it’s pretty good!
Peter already has! Google/TH-cam Peter Schiff stand-up! 😉
As an aside, does anyone here know where I can find Trump's deleted tweets from the capitol riots day? People are claiming they incited the violence, so I want to read them for myself.
@@RedPillGrimReaper peter STIFF hahaha
Wake up people, this man speaks the truth
Yea....HIS truth 😂
@@Macheako what do you disagree with?
Agents of satan planning to crash economy to introduce digital currency using mind control rfid chip implants. Endtimes prophecy is being fulfilled. We are lving out book of revelations. Jesus christ is coming back for the rapture(this decade) Millions of true born again christians all babies and small children under age of accountability will suddenly vanish from the earth. Dont get left behind from rapture to face great tribulation coming to earth. America will be nuked and invaded by russia and china in near future to usher in new world order. Nwo beast system led by antichrist obama and false prophet pope francis ready to take over after rapture. Dont believe the coming massive deception of alien abduction explanation for rapture from obama. Fema concentration camps will be activated around the world post rapture. Refuse coming vaccine and rfid chip implant aka mark of beast at all costs.
@@daebak7370 I think you've gone too deep. But you got the right direction :D
@Nick Tubber whats not happening?
Can you do a video on the Great Reset? World Economic Forum: "You will own nothing, and you'll be happy."
Yup, government creating the problem that government will solve
That looks like the new world order
@@goodwillwin3664 Prob is, just changed the name.
@@brjones27 look at his hands when he has them on the table. He is part of a secret society.
@@Scott-tm9ml They're on the table the whole time. I dont get it.
Only 2 differences between gangs and governments :
1. Size
2. Discipline
well gangs have members that always gangbang their sets and kill opposing gang members, they participate in human trafficking , im not sure if you know this but they also torture people for snitching, they also inhumanely rape women. Im not sure if governments do any of this?
@@antoineroquentin2852 let me introduce the government's very own C.I.A _ Central Intelligence Agency
@@antoineroquentin2852 yes,they do.
@@antoineroquentin2852 ya search edward snowden, you have a lot to learn my friend 😂 mans been in hiding for years cause he told everyone the NSA is spying on every single american
@@antoineroquentin2852 MK Ultra? Abu Ghraib?
The sad thing is this is commonsense.
@Idread & no one tells the truth except him. Modern day Galileo
Better dismantle social security, Medicare and Medicaid and shrink govt
So true
I just sent this video to a friend of mine and said “common sense with Peter Schiff”
To bad common sense is not so common anymore!!
@Idread Its already happening if you actually watch what's going on behind the curtain. Repo market crash, fed buying mortgage backed securities, junk bonds and corporate debt and interest rates at zero with no ability to raise them. All the while China is building the belt and road initiative which will force the majority of the world to switch to Chinese Juan. Check out George Gammon. The Fed is running out of options and other countries are starting to see the cracks in the US foundation
Not common enough
Peter Schiff comparing the government to the mafia. Like father, like son. That's a compliment.
He is insulting the mafia.
😭😭
Government is not like the mafia. With the mafia they allow you to negotiate they have a method of conduct. Governments change and reneg breaking promises all the time.
@@PeterM1889 yup.
It's almost as if Peter makes 10s of millions off of poor suckers who listen to his failed economic outlooks and shallow regurgitated talking points for decades...
Almost as if the deflationary forces have nearly wiped out the inflationary forces if not for money printing. Velocity of money has crashed since the mid 90s for example, technology is exponentially improving, etc, hence why interest rates are so low (not due to manipulation you dum dums)
fred.stlouisfed.org/series/M2V
This is the Peter Schiff school of economics and he is giving out a masterclass.
His school of economics has been around for a long time. It’s the Austrian school of economics.
It was thrown out the window when the central banking cartel decided they wanted to take over the world with fiat money.
@@tonyh1345 it was never mainstream
I love Peter but he's been a doom and gloomer for so long. How do we know that this crash is going to happen around the corner. He said something similar in 2008 and I'm still waiting.
But think of the money you would have made if I would have invested in a minute in 2007 all those years of aprox. 4 to 4% commissions on his mutual funds right. I wonder if he ever refunded some of those commissions?
Why doesnt Peter ever talk about the block velocity of money?
@@daveforgot127 Relax, Peter has called 22 of the last 5 recessions.
My little sister used to my ask my father to buy her something.. My dad would say I don’t have the money...
My little sister would say ,
Just write a check daddy. Lol
I think that’s the mentality that many have today. Lol
Your sister is in charge of the White House
Haha...kids...I use to say the same thing...
My son told me when he was 6 years old "just go to one of those machines you get money out of" 😆
Your comment brought back memories 😆
I think your father was a bit dumb if he did not explain her how things work.
@@deltaxcd to a child? Really? A child wouldn't understand the concept of money, even if the father would to tell her about the concept of money, that child would forget about it quickly
@@rdg760jr2
well, you can explain that you get money by suffering and pain by doing things you hate, not that hard to explain. children will be understanding it more on the emotional level copying emotion of their parents if you show great discomfort when you need to spend money and also show big pleasure when you get paid and preserve it the child will also understand that making you spend it is not a good idea. If chid does not see any discomfort in their parents when they spend money he will also assume that it is nothing special.
Peter that is the best talk you've ever given, very clear, logical and comprehensive - you're the best modern day economist out there! Well done
Schiff does make a number of great points. But he does not address a couple of key questions.
1) The rest of the world is printing money even faster and running up even more deficits than the US is. To wit Europe, Japan, and China and maybe Russia as well. These are the major alternative currencies to the US dollar. So one has to question how the US dollar will really crash given that it is a relative race to the bottom for all of the major currencies. Schiff needs to address the relative nature of currencies and the relative nature of national deficits.Furthermore, despite the near ZIRP in the US, other countries are even worse with effective negative interest rates on trillions in national debts. Such is also a factor that Schiff needs to address in talking about the crash of the US dollar.
2) Schiff talks about US inflation and the projected large rise in such over the coming months and years. Yet he fails to talk about the manipulation and reporting of real inflation is in the US and what it has been for quite some time now Is the CPI as reported by BLS even a remotely accurate measure of what real inflation is in the US. Remember that CPI has been reporting inflation in goods and services as approximately 1-2 percent annually for many years now. But alternative inflation measures such as ShadowStats or The Chapwood Index have been reporting real inflation in the 5-10 percent range for years now. One has to remember that the CPI definition of inflation is not the same definition of inflation that existed in the 1980-90 period. The BLS made significant changes to the definition of CPI inflation such as so called heuristic adjustments, substitution adjustments, qualitative adjustments, etc. And as a result CPI inflation is consistently reported as a number lower than it would previously have been.
Nevertheless, one has to give Schiff great credit for calling inflation the tax that it really is on every american citizen and consumer. That is right on and something that every citizen needs to clearly understand. And secondly Schiff deserves great credit for calling out DEFLATION as the desired condition and most beneficial outcome for the vast majority of citizens. He does a decent job of explaining why in a few examples. But one wishes that he would explain that deflation is the natural outcome of real capitalism and real free market enterprise. This is so because market forces such as productivity, technology, innovation, competition, scale, trade, competitive advantage, etc lead to more and better goods and services over time by the productive sector. And as a natural outcome the quality of goods and services should and does rise, and the prices should fall. Sometimes it does, but often it does not ... especially in those sectors that have monopoly or quasi monopoly dominance or in areas like government controlled services. Think about healthcare as both a quasi monopoly plus government controlled good or service. Think about cable network quasi monopolies. Think about the military and never ending increasing costs. The list is very very extensive in the US economy. One gets very annoyed at the Federal Reserve and their persistent and false diatribe about the goal and need for never ending inflation. As Schiff rightly points out that is incorrect and not what is in the best interests of citizens or consumers. First of all the Federal Reserve does not have a mandate for inflation .... their mandate specifies "price stability". They have just falsely and essentially illegally converted that into a persistent goal and target of annual inflation. Secondly, the Federal Reserve is totally self serving of both themselves and the federal government (and corporate america and the banking industry) in terms of attempting to foster persistent inflation. One hopes that Schiff will address at some point some of these issues in his economic masterclass.
Printing money and handing it out fixes nothing.
If you don't make stuff - there is no stuff. - Elon Musk
The same guy who gets lots of free money for non-competitive cars? hhs
GAAAAAAA haha
@@steykalvergagrande1064 Yeah the 2nd richest man in the world is an idiot, you’re the true genius..
there is no shortage stuff given globalization and automation...supply is basically infinite...only shortage of money
or just any 1st year economic student of any type.... every person with a pinch of economic knowledge knows money is just paper (or a click), it is nothing without a production counter-value.
This video will get less then 50k views, meanwhile back at the Kardashians, the views are stacking up by the billions. Hence the problem😆😆😆😆
Underrated comment
Unfortunately true. 😥
It's ok... we are the 1% anyways... keep it that way
If they don't want to stay educated, let them learn. Trial and error.
Exactly ! Many are more fixated into big ass assets .
Money will never be paid back by tax payers. That’s the fallacy. Either inflated away or defaulted on.
The Govt. way.......inflate it away........Paul
@ARTOFMUSIC There is somewhere between 100 and 150 trillion in outstanding debts owed between private and public interests in the US alone, if not more, and that range of figures does not include the 150 trillion or more in unfunded or underfunded liabilities. The total supply of US dollars (according to M3 broad base monetary measurement) in the US alone is slightly less than $20 trillion as of the end of 2020. The federal government's public debt alone is around $30 trillion, which is $10 trillion more than all of the money currently in supply according to the M3 measurement.
The problem here is too much common sense; doesn't Peter know they stopped using common sense a long time ago? We're in Bizzaro world, baby!
Too many mentally ill people in power. That's the biggest problem. They could care less about the "pee-ons".
@@alienlifeform7490 if you were george bush jr. And youre driving by a guy at a bus stop. Is he equal to George in George's opinion? Is George gonna say "im a lucky guy. Ive never had a "dream car" i always a car. That i bought. That i wanted. And I did it pretty much as soon as I wanted it." Desires for george dont last long enough to become a "dream home or dream car' because he just acquires those things right away.
Try calling the police on a person like this. The 911 dispatcher will be like "uhh you saw a body going into this house? Sir.. that is george bush jrs house. This number is for emergencies only. -click-
It doesn't matter if you ACTUALLY SAW SOMETHING. They won't believe you.
These people are shown every day of their lives that they are special. Superior. And live a special and big life. When they see someone at a bus stop. They dont see it as another human like them. They see it as a co.ckroach slave that knows nothing. It's his world. You just work here. Thats how they think. They have sick minds from the se.xual deviance they get into. And it starts before they're 18. And it gets sicker.. and sicker... and sicker. The older they get. Thats just their se.xual perversion from they decadent lives full of gluttony and over indulgence
"Common Sense" Just isn't that common anymore, It is more rare these days than the precious metals
"welcome to the apocalypse baby" Doc, znation 😂
An inverted world
there are 1000's of language and this guy choose to speak facts
What makes this mess even worse is wages don't keep up with the cost of living.
Imagine how high inflation would be if wages kept pace with the cost of college and healthcare. Ribeye would be 5x what it was in 2010, and housing would have doubled. The primary driver of consumer goods inflation remaining relatively low over the last two decades are low wages.
@@NickMart1985, the cost of living continues to go up. Wages are stagnant. Your theory doesn't hold water. If it did, cost of living would stay low since wages are low.
@@JTDyer21 The price of food has hardly budged relative to "financialized" services like school and housing. In fact, there is real deflation in many sectors. Entertainment being one of them.
@@NickMart1985, apparently you haven't been to the grocery store lately. Groceries are outrageous. $100 used to buy a cart full. Not your lucky to get 1/3 of a cart.
@@JTDyer21 You're right, I dont eat. I'm trans-food.
“That’s a problem for future Homer” - Homer Simpson
..or in this case, future Homer's children.
*pun intended
I'll just steal what I need, since criminals aren't jailed any longer.
I hope you're a poc...
I wouldn't if you're a white male. They're actively working to change racial inequity in prisons.
You'll be fine. But if you are out and about and give someone COVID by mistake you can be jailed.... But kill someone you get a pass....
they are jailed it's called 'the city'.
Awoman to that
Started to listen to Peter about 3 years ago and been accumulating gold and silver ever since.
where do u buy gold? where r u from
@@goni9991 apmex
@@goni9991 Scottsdale mint and liberty from Ebay
Apmex. Or jmbullion. DO not buy off ebay. 85% of the time u get fake stuff
@@mitchgustafson3879 no its not
Ever since 2011, when I was in college, this guy was sounding the alarms about how the economy was about to collapse. I bought it hook line and sinker. My only advice is, it always feels like "RIGHT NOW, EXACTLY NOW, IS THE END OF THE ECONOMY!!!" And in 5 years, It will feel the same way. and in 10 years, it will feel the same way. And in 15 years, it will feel the same way. Don't live life thinking the economy will collapse, live life like your two hands can build and grow something. This guy makes money making you feel emotionally compelled he's the prophet of your survival. Don't waste 10 years listening to this guy. Do or make something IRL. Like start a business when everyone is telling you the sky is falling.
Amen. This guy does typical sales man pitch. Make you emotional then talk about his hedge fund and how he can save us. what an ass. if dollars about to fail, why should I hand it over to you ?
@@yazdon7301 lmao seriously. Complete phony this guy is.
It doesn't mean that he's been wrong. What the central banks have done in the last decade is unprecedented in human history. They are playing a really dangerous game. The economy should have collapsed already. We are living in really strange times. The eventual collapse will probably be the biggest in history. But it needs to happen eventually. Of course you need to live your life regardless, there's no point worrying about things you can't control. But you can be smart and prepare for different future scenarios in various ways. Just my two cents.
So true he has been saying this for 12 years. Imagine how much he would have lost you if you would have listened to him in 2010 when he was preaching the same thing.
@@lifeisshort2016 you are attacking the person, I was simply talking about the arguments presented in the video. He can still be right, even if the stuff he sells has been underperforming.
Basically how Rome callapsed. Towards the end they were using fillers to make their coins. Sound familiar?
That sound when a soldier dings a hollow coin on his helmet.
This is not how and why Rome collapsed
It happened because slaves started to revolt and the government was forced to tax its citizens.
Rome never collapsed. Just changes it’s guise under different names. USA is the modern day Rome. We are all still under Roman Law. The Vatican and Jesuits rule over us
Correct. Although their were a few other variables involved in the Roman collapse you are definitely "right on the money"
@@deltaxcd Actually Rome collapsed because the goths sat outside the city for 3 years and the senate didn’t allow Rome to have an army in the city.
I’m glad you’re showing your face. You will get more views that way. Thanks Peter!
Yes, and he has agood face. He should show it more often.
Yes
Like the billions going to Pakistan for gender studies.
It is discusting what about the American people were is the money for them
Best way to rob the people blind is liberalism. Turn people into perverts and drug addicts and the banks are free to loot the nation. They did it here. They turned free speech from protecting political speech to pornography. Interesting how our rights are being twisted and distorted.
30 million dollars I believe...but you're right
@@LibertarianRF 30M$ is pocket change for social studies and universities. Also think about the returns Packistan will receive from this investment. It's a "you do this I do that for you" situation.
@@terrencesauve that's a big pocket lol
REALITY CHECK: Even if the US Government ran a $1Trillion Budget SURPLUS each year, it would still take 30 years to pay off the debt.
Even longer you didn't account for interest
@@Lgg42069 I was just making a point.
Why pAy it off...
It’s a credit card...
Make minimum payments....
Be like real Americans...
@@scottward1002 And use another credit card to pay for the other one and repeat to infinity.
@@christophergreyson6953 If you owe someone 1000 dollars, you've got a problem. If you owe someone 30 trillion dollars, they've got a problem.
History repeats every time knowledge is lost through generations
Your coment was briliant . Thank you
"Trusting the CPI would be like assuming the mafia is going to give you an accurate report on crime. If you hired the mafia to study crime, you wouldn't be surprised to hear there wasn't any and there was no need for more police." That was probably one of the best analogy's I've ever heard
Yeah, and with online censorship now, imagine if Biden gets Google to block this kind of talk on the grounds that it "INCITES" mal-investment or hampers the government's ability to refinance its debt. They could stoop that low at the rate things are going.
Thank you Peter for explaining the sobering truth so clearly
The price of a pound of rib eye has doubled since 2010.
Start a cattle ranch.
Rib eye's the best.
@@SafetyLucas ask Bill Gates how
Read my comment.
I like filet mignon and t bone too. I don’t think those have double though...
Pete: The government IS the economy now. When rates turn negative, thats when you know we have arrived at the terminal stage. Can anybody tell me when was the last time rates have been this low, for this long of time? How about: NEVER. That right there should tell you something.
Apparently in the past year weve printed 1/3 of the money that we have ever printed in our entire history, they are forcing the Great Reset.
@@sleepystar1638 that 1/3 was before the second stimulus package. It’s close to 60%
Japan has been ooperating on negative interest for 20 Years......Other countries recently have also gone negative.......Do the research......Rates have declined steadily since 1981....Paul
@@malinoisnation9392 thank you, i haven't been keeping up with it. Please be safe.
@@paulholterhaus7084 what makes you think that what works for Japan works for the US?
We lost the ability to pay the interest $$$ without borrowing more $$$ a LONG time ago! PONZI. Ponzi. ponzi...
Charls Ponzi will be proud of the Federal reserve
Welcome to the world of Cryptocurrencies 🤗😋😋😍
Look
@@johntrojan9653 why do you want every single one of your transactions to be tracked and permanently recorded?
@@frankvonfrauner ¿¿?¿¿ What Telecommunication Spy Satellites won't pick up then Space Aliens surely will !. H.a.G.D. 🖖
Brilliantly laid out, Peter. I wasted four years in college when I could have listened to you.
Seriously though.
In 2007 he made the same prediction. With the same reasoning. It didn’t happen.
Actually what we’re seeing is economic stagflation the economy is stagnating like fuck and at the same time we are experiencing consumer price inflation.It’s the worst of both worlds the cash is scarce for us at the same time prices are increasing
bingo, and most of the monetary printing is winding up in the real estate and stock markets, just making housing less affordable for instance. Thanks to "modern monetary theory"
Peters videos age extremely well.
Outstanding. This was an entire college-level economics course in 37 minutes.
But they will not teach this in college, my daughter s economic teacher was a zombie, no common sense, no real world experience, awful and incongruent with reality
@@bc1885bc Same college that produced AOC?
@@galenhaugh3158 Oooh, COLD (👍*)
I had Micro and Macro Economics in JC - this is the first lecture that actuallly kept me awake.
@@galenhaugh3158 No, it was a clown college that produced AOC.
Inflation is a direct tax on the poor.
I Agree!
I'm disagreeing. Inflation is taxing even rich. I see inflation more as penalty for having good financial habits.
@@mareksniknais5415
I think 1qaz meant was the rich don't feel the inflation where the poor does.
It’s a tax on everybody. Inflation is a tax on your cash.
@@t.j.5574
its a tax on all money in the U.S. not just cash. The value of the dollar drops regardless of what form its in.
So well stated and explained. EVERYONE needs to see and understand all of this!
"Government lives off the productivity of the working sector"
bingo
I think the middle class needs to go on strike.
Saves money for that last several years to buy home just to have home prices inflate at record pace + value of savings go down (California to top if off)...
You can't out save inflation.
Rip
@@NeoAndersonReloaded unless you put your savings in actual sound money like Bitcoin or gold
Same boat
"We are not in Kansas anymore." "Welcome to the real world."
Spot on, Toto ! 😅
I live in Kansas, and man...I had to take a loan to buy toilet paper and a t shirt to put on my back...It is really bad out hear
I’m in Missouri and watching this at 4:44 am Investments are up. Solar is my stock. Living good off of retirement. I just quit Amazon and Walmart along with other big stores. for buying. No longer will I purchase new clothing as much cheaper used. From now on I buy used if possible.
Peter Schiff explains the Titanic is sinking to the passengers of the Titanic. Good to know.
Wolf, we are in the lifeboats, hoping to pick up a few survivors. Don't stay on the boat.
@@roberthodgson3574 what lifeboats?
"I'll start to worry about that when it happens" - most responsible and strategic advice ever received by almost everybody I try to warn of dire upcoming crisis. Americans don't understand things are much worse then they can even Imagine for America.
M H those lifeboats over there engulfed in flames!
He's been screaming ICEBERG since before the 2008 crash, actually.
You’ll be alright Peter, you’ve made your money, and I’m sure you knew how to hold onto it. Now tell us WTF. To do
If they achieve the "great reset", even people like peter probably wouldn't be safe. Their message to the world in one o their videos regarding their prediction from 10 years from now was that "you'll own nothing, and you'll be happy". They're (the World Economic Forum) is pushing this narrative globally right now it's not some tinfoil hat thing.
@@inhalefarts never has been a tin foil hat thing, just like 98% of all "conspiracy"...just no way to negate it's happening now.
Great reset will not happen this time and if it will happen it will be too great to survive for western civilization.
Socialism is coming and everything you accumulated over generation will be taken away (in form of tax most likely) Gold is also going down in the long run
@@jaredroussel
Gold is going down because it is a way how people accumulate funds for a rainy day, and that rainy day has come.
Bitcoin is also to crash at some time because it is a Ponzi scheme. It is extremely overpriced and unlike gold it has absolutely no real value.
All those things are nothing else than scams designed to sterilize money and prevent inflation. the reason why we don't have inflation is because people throw all money into gold stock bitcoin rather than spending it in the real things and raising ther price.
@@jaredroussel
It is all doom gloom because we are experiencing the biggest economic crisis in human history.
But either way, you should look at the fundamental issues, people buy gold bitcoin, and any other "investments" when they have money and sell them when they need that money back. the entire idea of "hedge against currency devaluation and price inflation." is that you somehow transfer your current wealth into the future when you will convert it back into some kind of product. it makes no sense to hold gold forever because you can bring it to your grave.
So either way, all those things have to be sold someday and the only question is when.
The fact that there is a limit to how much bitcoin can be generated is nothing good because there is no system to equalize users. we have a ridiculous situation when early adopters own pretty much all supply that exists and novices have no hope to accumulate anything significant ever. A similar problem happens in the real world where 1% own 99% of all assets and the rest have no hope to get anything.
Novices that enter this system have no incentive to even bother with anything because there have no chance to compete and this is why the system is going to crash and prices will go down because nobody will be buying anything.
Rich people already converted all their money into gold and other speculative assets poor people have no money to spend on such stuff.
so to whom you are going to sell your gold if you need money again? Who has money to buy it?
Sweet, I'm here less than a minute in. I'm ready to get schiffed
Can't fizzle the Schiffle.
🤣🤣🤣🤣 this is the same clown that said Trump/Republicans are fiscally responsible. They added $7 TRILLION to the debt and China is STRONGER. 🤡🤡🤡
@@johnmbwa537 Peter Schiff lambasts and eviscerates republicans all the time.
@@johnmbwa537 you obviously don’t watch regularly
@@bhorning2 i watched from 2016 to 2017. He was all ga ga eyed for Trump. Too late to change. $7 trillion in 4 years!!!!! What a joke
Honey badger doesn't care.
Does Honey Badger own bitcoins?
I've listened to Peter occasionally for years! It's disturbing how accurate his predictions have been. Listen to what he's telling you!
Not when it comes to bitcoin
THE guy hasnt ever been right...just tells you the obvious
90% of the world believes the opposite of the obvious
@@jadezee6316 You are correct. Most important task is to do your own research. I have an affinity for Economic History so I studied the key economists throughout history over past 250 years. You must know that all of the Great economists read David Ricardo, "Karl Marx", John Maynard Keynes, Schumpeter, Ludwig Von Mises, Alfred Marshal and Simon Kuznets ...etc. For me, it has been so luminating!
Peter Schiff is one of the smartest and most articulate men I've heard in a long time. What sound explanations he offers for basic financial understanding! Thank you, Mr. Schiff, for making these videos possible.
What kind of smart guy will say that gold is the most valuable material? Or say that the government is going to relay its debts?
Peter I would love to hear an episode on the show about how we are going to rebuild American society after a currency crisis. I would love to hear the details of reestablishing capitalist principles. Thanks!
This
You will break up and then better center US than coastal US.
Capitalism is not coming back lol we are going full fledge into socialism.
@Yog Sothothologist yes and he asked about the capitalistic principles that will help us build back. I'm saying the country is going to move to socialism not capitalism unfortunately.
If you want to reestablish capitalist principles, you need to read Ayn Rand and advocate for reason.
"The way to crush the bourgeoisie is to grind them between the millstones of taxation and inflation."
it's coming full force
I think you got nomenclature wrong there
Who said that , Barney rubble ? A heheheheheheh
He's right on...the cake is baked and the clock is ticking.
If you say that enough over and over it eventually becomes true....No skill in that, skill in knowing when, which no one does.
The real "problem" is: the birthday candles are sticks of dynamite which cannot be blown out no matter how pretty they look on top of the cake.
He is wrong. Inflation is NOT taxation, because it is not caused by government. The money supply is increased by PRIVATE BANKS when they issue loans.
Wide Hotep. Ok, where did the Private Banks get that extra capital to loan out? Did they print it? Someone did. Silly, Peter Schiff doesn’t make economics statements that are “wrong.”. Inflation is taxation.
@@JeffSmith-fu9hu Please watch the TEDX video on youtube "Ole Bjerg, where does money come from?" Also, do a google search for "Bank of England: money creation in the modern economy." Both are crystal clear: all money is created when BANKS issue loans. Peter Schiff is a disinfo agent who most-likely works for the bankers. His job is to confuse you so you will blame the "government" for inflation and business cycles, when really the bankers cause all this misery.
“If you think the cpi is giving you a accurate read on inflation that would be like assuming the mafia’s giving you a accurate report on crime” I see what you did there 😉 14:50
Just keep on stacking metals,water,medicine,energy,ammo, and keeping the most high god at the head of the your life
Great advice. A peon like me can only do just that.
Right?!?
But, so very few are listening
@@Fish-yr7vv nuffen wrong being peeon
I know right. Even gold & silver or whatever i feel will not help us here.
It will be luxury to survive in the middle of nowhere in a tent... Thats how it feels to me. But nobody cares enough to prepare properly and they have some guns so... watch ur backs!
Faith without works is dead! Obey your Most High God with ferver and fear, not lukewarm belief. How do you obey? Read His living Word. That's how you stay close to God. 🕛
Asking the Government to report on inflation is like asking Pablo Escubar reporting on drugs abuse
you spelled Escobar wrong and he didn't get high on his own supply, that was Scarface
Look up the M2 money supply chart
Same guy as El Chapo?
We are so screwed, they will never link the dollar back to gold. Just save yourselves people.
I mean....money STILL WORKS right now....
Ya better get a move on it lol
@@kimbuck-2It is all history of the American revolution.
@@kimbuck-2 Focus on your foundations then hedges (against inflation and against collapse), then focus on making your assets "bullet proof" basically govt can't seize your assets. Get out of consumer debt, focus on making more income, consistently save. Then focus on acquiring investments to hedge against inflation like stocks (don't speculate) and real estate (pay off your residence). After that, focus against the currency collapses by buying gold, silver, and even crypto at less than 5% of your 'hedge collapse.' Somewhere along the way, get into gunns and bulllets in case haters want to try to steal from you.
@@aznbspikey This is a good plan but will not work for many unfortunately. Most people are already priced out. This is why we have wild speculation.
guns yes. but more than anything we need common cause and community.
Every bitcoin investor right now is just smiling at the price of bitcoin as it held strong and indeed valuable enough to generating good ROI. More persons are gonna become millionaires and we have bitcoin thanks for that
I agree on your opinion man generally I always look out for it to dump so I can purchase some more truly it has come to stay
What's really the idea behind this bitcoin investment anyway, cause all I do is to buy when it falls and sell when it goes high
Bitcoin investment just like every other form of speculative investment where you trade commodities to determine which gain or losses against another in other to make profit just like in forex trading
Relating bitcoin investment to forex trading definitely means there are risk involved and just how do you appropriate risk measures
@@oliveralexande6205 :Offcourse, in bitcoin investment suitable risk management is aimed at reducing the loss rate thereby giving you the better chance to win your trade to ensure good ROI
He is not a sugar coating man that is why we love him
Every policy that robs Peter in order to pay Paul will always find unwavering support from Paul.
We could get out of this whole mess if only we raise axes on the king.
Money printer goes BRRRRRRRRRRRRRRRRRRRRRRRRRRRR
Looking back 2 years later, it’s amazing how accurate he was. Peter was one of the first people to sound the alarm
Not really, inflation has been coming down for months now and the SnP is up from when this video was released. Schiff calls for inflation and the economy collapse pretty much every year.
@@dogetaxes8893and now banks are failing. Fed will inflate even more
Peter thanks for all you’ve done. Taught me a lot over the years. Keep it up 👍
Like giving credit cards to everyone who couldn’t afford em.
I have credit cards with limits that are way more than I could ever pay off if I maxed them out but I always pay off the balance every month and never buy anything I couldn’t otherwise purchase with cash. Too many irresponsible people.
@@SumOneSomewhere I know this is random internet advice, but if your credit card limits are way above what you’d ever want to pay if they were lost, stolen or hacked, I’d ask the cc company to put them in a range where it wouldn’t be so bad if that were to happen. Get the usage notifications activated, one for travel and a lower limit one for strictly online purchases. I’m telling you these things happen on a regular basis now.
@@skeezix8156 thanks I’ll look into that. Funny how they’d assume someone makes fortune just because they have a decent credit score.
@@SumOneSomewhere Yeah I just turned on purchase notifications and texts on my discover and i have a limit 6x my monthly income but I rarely even use more than 3% of my limit. Plus Discover is excellent with customer service idk about other companies though.
@@immaculatesquid I think you’re allowed to use up to 10% before it hurts your credit but I don’t use nearly that much. I seen my limit when I got approved for my last card and about crapped my pants.
Silver, not gold is the most useful metal on the planet.
I'd argue it's aluminum
@@aaronstestlab I’ll go with iron. Most of infrastructure isn’t here without it.
@@skeezix8156
Valid. Perhaps versatile is the correct word.
Gold is the most valued because it is most useless... the more useless a metal is and the prettier it is, the more valued it is, because the incentives for competing interests are diminished. People only buy gold if they want to look at it or they want to hedge against the economy.
Two silver coins for me is the price of a packet of cigarettes here (50’s pack) 🇦🇺.
Of coarse they know this. It’s Done on Purpose. They know Eactly what their doing.
No, it's just the politicians only think within the next term limit, they are voted in based on how good they look to their voters, not on wether or not they make good decisions long term.
Just like social security, they spend the money, cause by the time they have to pay they will be out of office.
@@dariocastro-lopez3589 the sheeples are voting in a socialist government let alone the globalist corporations wanting socialism. And bread crumb stimulus. The dollar is gonna crash hard.
Need it backed by gold now!!!!
@@based__potato That's all you picked up on? Course* Exactly*
Stop buying shiny metals and rocks for stores of wealth. That is what cavemen did👎Buy bitcoin like a futuristic human. Digital scarcity is the new demand💯💯💯
At least you can use precious metals to make computer chips dummy. You know the things that people mine bitcoins with use gold on their chips
Ezekiel 7:19
“They will throw their money in the streets, tossing it out like worthless trash. Their silver and gold won’t save them on that day of the LORD’s anger. It will neither satisfy nor feed them, for their greed can only trip them up, (causing them to stumble into sin.)
@Erik Mikkelsaar self sufficient countries will survive
India imports 80% of oil rest everything we make
Software we Export a Lot
Electric vehicles are taking of here that should bring down our oil imports
@Erik Mikkelsaar if i could give you the thumbs up 12 times I would have.. I stumbled upon a Venezuela documentary yrs ago and could not believe what happen to them not once but twice....
@lisa greenwood I just read this script the other day in a book im reading from a pastor about the fall of America.
@@diyandimitrov5625 put your faith in Jesus Christ not man or the things of this world. It is soon to pass. God will provide your daily needs. Do you trust him at that?
Nothing new under the sun...
Imagine this knowledge as a standard to teach economics in our schools. The government will never allow this to be known in our youth. Its up to all of us to share this with everyone. Spread the truth.
I'm 15 please help me
I was thinking that during this video, why isn’t this stuff taught in schools? But then I remembered the dumber people in general are, the better for the government.
Peter is right again today in 2023.
What are you talking about, the SnP is up 300 points in profit from when this video was released. You would be down and missing out on 2 years of dividends if you sold when this video came out. Peter has been wrong about the US economy every year since 2008 lol.
Have you ever stopped warning about a pending financial crises?
Are lockdowns less about a deadly virus and more about suffocating small business and the middle class?
Aren't the effects of lockdowns worse then the cause?..
S Dakota NEVER closed a single business and never mandated anything. The governor, Kristi Noem, just recommended (not madated) certain things like masks and social distancing but never forced anyone to close. California & NY are doing worse in covid deaths per million.
Lockdowns are more lethal than the virus- Dr.Dennis Modry BSc, MD, MSc, FRCS, FACCP, FACS, Clinical associate professor, Cardiothoracic Surgery, University of Alberta, Founder and director of the Heart, Lung , and Heart-Lung Transplant Program, Director of the Cardiovascular Intensive Care Unit (84-2015)
Peter explains concepts in such a clear manner. I learn so much from him
This video is by far one of the best Peter has ever produced
A short summary: the government does not want deflation
Nice one but we want more
So for all the sheep he is telling you America is a failed country and he is correct.
@@johnwilliams8353 Nope. America is fine. Stop watching fear porn.
@Cheryl Jensen Inflation is perfectly normal when banks are responsible for 97% of all new currency/money creation and expansion for centuries now, due to the nature of the fractional reserve system.
That's nothing new. It's well known and governments and centralbanks openly say that their aim is an inflationrate of 2 till 3% pa. The point where they lie is about how high the real inflation is
Mind boggles of the people who put thumbs down, obviously are in receipt of Stimmy
Stimmy XD
I think btc people automatically thumbs down anything Peter puts out.
I'm guilty of a thumbs down. But only because a took a couple of economics classes while in college. And I aced both of them. I'm sorry to say it, but Peter isn't teaching anyone here about real economics. Sadly, his viewers believe that he is.
@@krys9990 I just made a decent amount of money and am still making money on BTC, yet I liked this video. I liked it a lot actually. Idk why people hate on BTC. It's highly volatile and the markets are always open. Buy low, sell high. Easy money. It won't replace fiat currency, both for technical and obvious reasons. But it's useful for certain things. If America fails and people no longer trust dollars or banks, crypto, particularly monero and bitcoin, may become very valuable.
As an aside: It's so sad that most people, including our leaders, can't see beyond the immediate future. People are too emotionally driven and impulsive. We need to fix the culture and education system so people start to think again. Historically, we've had to learn it the hard way, but perhaps we could do something novel this time. In the near term, we need politicians who can win the favor of an emotionally driven populous, but then implement responsible fiscal policies. Hard times create strong men, strong men create good times, good times create weak men, weak men create hard times.
@@gerri577 Care to share what's wrong with this video? If you have a better idea, I would be interested to hear it. Were these the same classes that the people who are crashing our economy took? I'm not trying to be rude, but I'm going to need more explanation than that.
Watching this a year later is almost like listening to a fucking prophet. Peter, you are a genius.
aged like a fine wine
Why even bother to collect taxes from us ? Just print it 😂
the goal is too keep you poor, duh.
@@goalcrypto8653 poverty is relative. Peter Schiff is poor compared to Elon Musk.
Taty Max~I really can't come up with a counterargument. Well said!!!!
The private central banksters must keep us financially enslaved with fiat debt dollars to control us. Their sick demonic POS that need to be eradicated.
LMAO when i read your comment!
I grew to really like and appreciate you Pete.
"We don't know what we're doing"
-America
If they could at least admit that then we would have a starting point towards a solution. Instead the government pretends to know what will work.
You guys really think they dont know what they're doing?? Lol They know about inflation and then some...
Hey @money sun - any chance you wrote your TH-cam comment on an iOS or ANDROID device running a QUALCOMM processor, or PC / INTEL setup? Anyway, indeed we don’t know what we’re doing here. Can you tell us from which grand nation you hail so we can take a look at how you guys do it so we can figure a few things out? I mean, how to better manage our $20 Trillion economy - because technologically we seem to be doing something right..
Oh they know what they're doing.
Oh they know exactly what they’re doing ... they just don’t give a shit
I am 62..just starting to study this...omg......thank you sir.....very much!
"we're about to suffer worse than I thought" *giant smiling peter schiff thumbnail*
If i was worth $70 million like he is, i'd be smiling too.
Because he knows how to get rich on a crisis. Bad times come with huge opportunities.
It's almost as if Peter makes 10s of millions off of poor suckers who listen to his failed economic outlooks and shallow regurgitated talking points for decades...
Almost as if the deflationary forces have nearly wiped out the inflationary forces if not for money printing. Velocity of money has crashed since the mid 90s for example, technology is exponentially improving, etc, hence why interest rates are so low (not due to manipulation you dum dums)
fred.stlouisfed.org/series/M2V
Change "we're" to "you're" and the statement will be more realistic. Rich people with assets are not going to suffer.
@@monsterous289 Act according to your take, and reap the rewards of your superior wisdom.
Never invest with this guy. His investments have been a complete disaster. He has been bashing bitcoin since it was 10 dollar. His clients are down 50% the last 10 years.
Can you give Abit more.details
Exactly!!! I wish I didn't follow his "advice" on Bitcoin 8 years ago((((
Bob Marley: He has a right to his opinion. No one is forced to listen to him.
Gold, silver, bitcoin, food, shelter, meditation,awareness, community.
guns, ammo...
people will want to eat.
Brass, lead...
To quote G.Celente Guns,Gold And A Get Out Plan.
You forgot ps5 and cyberpunk.
How is the debt supposed to be paid off when more is asked back than even exists.
Because money is debt. Money doesn’t come in the form of grants from the govt level which trickles down to banks. It comes in the form of loans with interests owed.
Wanna get really technical?
Money comes from the word Credit. Credit comes from the word Credo, which means trust in Latin. Every wonder why it says “in god we TRUST”? on the bills? Yea...
It isn't. These narcissists think the world has too many people. They have robotics, so most humans are "surplus population."
@@thatisabsolutelykooooge2211 you are mistaken. Think all the way back. Money = effort and assets.
Go back to simple trading (barter) and you will see this is true.
@@jjjackson5183 you’re just wrong. Simple.
@@thatisabsolutelykooooge2211 don't you wish? Don't you wish money spouted out of rainbow unicorn horns and rained down on all the nice people?
A large part of the problem is that the bankers have separated the worker from the wages and the goods from th3 actual value. You may not remember it being any other way, but I am old.
My fan stopped working and has been making a clunking noise all week. So I called up a local company, called Schiff's Repair Co. and after explaining the problem the repairman stopped by and finally fixed it for me. The whole problem had a really simple solution:
The Schiff had to hit the fan.
HAHAHAHAHA
Lame
"Peter has The Most Logic."
There's many parts to the story being told by many people,
"collect the meat and leave the bones."
@@kasomoru6 "You should stop eating meat, it's part of the problem."
*The Moist Logic*
That is why btc loons hate him
Thank you Peter. This was a great lesson on basic economics and inflation. More than I would have learned in college.
To sum it all up, in a nutshell........."We're all screwed!"
And F#ed. At the same time, simultaneously.
Cyberpunk future is literally tomorrow
as of nov 2020, the america we grew up in is now gone forever. it would take an act of god to bring it back. so, we are all screwed.
When this blow I wish I'm living in Puerto Rico in a farm.
Until another hurricane hits Puerto Rico. Lol. J/k
@@SuperEddie0228 TX, Fl and the east cost get floods and hurricane's, midwest get tornadoes, north get snow storm. You can't hide from the elements, just adapt. In Puerto Rico we have concrete homes resistant to hurricane's
@@madelineortiz6648 what happened in 2017 if PR homes aren't affected by hurricanes? That refugee farm you speak of, does it have hurricane resistant crops and livestock too?
Panama: Never gets canes, no property taxes. And it has a bargaining chip that has immense power in global politics. There is a reason China is trying to buy land in Nicaragua to make their own canal, because Panama gave them the finger lol. It may be longer, but it is also easier to build, only needing to blast/ remove an 11 mile path. The rest can be made from existing rivers and lakes.
@@peterbiltpilot516 That's the reason that you prepare for hurricane's. That's the reason that you get prepare with supplies and food.
Upcoming inflation = My parents bought a house in 1973 for $43,000.. In 1979 when I got out of high school the house was worth $85,000.. That's coming in spades.
My house went up 89k in a year
The Chinese are clever at bringing down capitalism
Sneeky Chinese are Capitalist themselves $$$$$$$$$$$$$
Printing money is a major concern. However what I m worried about is that China and a few countries might collude to take steps to ensure that the Bretton Woods agreement is no longer valid. This in essence will not make us the global reserve currency and will dampen our ability to have “free funny money”! If this happens - we ain’t seen nothing yet!!!!!
I wish Peter wasn’t always right.
he's not
He was dead wrong about bitcoin. It's 35,000 usd
We've been waiting 10 years for him to be right! Still nothing!
Please clap. - Jeb
He is right. The thing is his scenario will become true only one second before the sun collapses
It’s unavoidable to have a trade deficit when our country holds the world’s reserve currency.
triffins dilemma
True but these trade deficits are too large. We don't make anything here anymore. When currency is tied to gold again goodbye dollar, hello Yuan or some type of world digital currency. Yikes
@@brandonklosterman9880 Agree. Trade deficit is way too large. Even if the US returned to manufacturing I’m not sure we could compete with China.
You’re not talking about manufacturing at all. The big, really big giant sitting right in front of you? Propaganda alert.
"so the roof is gone, now it's going to the sky" lmao
to Mars with Elon Dogee ruff
Brother, we’ve been “about to be suffering worse than you thought” for YEARS now!
Zenos paradox, the suffering can always be worse
I think that is his point, the longer this goes on the worse it will be when it happens.
@@dominic9028 That’s only common sense. The people who have steadfastly followed his advice have left a ridiculous amount of money on the table.
@@DarrinBentley who are these people? I've been with Euro Pacific for years and have done well.