@Tomthebomb Government is still heavily involved in American health care the FDA causes drug prices to be insanely expensive to get drugs to market. The government makes everything they touch more expensive also being from england i have to pay 12% of my wage for "Free healthcare" so the more i earn the more itll cost me which btw i never use because good lord the waiting times to get anything done is unbelievable id rather pay and extra £90 for private healthcare with my company if i needed it
@Tomthebomb Look up how much money the NHS in england spends on paracetamol they spend £7 a packet when i can get it for 40p over the counter... Not sure how thats cheaper than private
Mr. Schiff! This is a far better platform to communicate with listeners! I know you’re a busy man, but please continue to run live streams as much as possible! It gives your fans a chance to ask unique questions and get your answers in real-time.
"Expecting the government to put out honest statistics on inflation is like expecting the mafia to give out honest statistics about crime", priceless quote
If anyone makes fun of this guy spending 3 hours of his time to educate us for free, they should get the shit trolled out of them. Plain and simple. Thank you Peter
Another idiot he can ttake advantage of he spends 3 horus on here trying to sell his funds obviously u have not invested in them and loss so SHUT UP and troll that
Man I remember watching Peter Schiff's news appearances on his website back in 2006. This man has taught me sound economics. Now working on building up my wealth trading forex. Thank you Peter Schiff for educating so many for free! You definitely live up to the ethos & integrity of your late father Irwin. Blessings to you & yours ❤
I'm looking to do this too, but I definitely want to know a bit about every market I can trade as well as Forex like indices, stocks, commodities etc. I'm a UK citizen but Peter Schiff (and Ray Dalio) are really teaching me a lot about Economics. How is your trading going?
@@fishofgold6553 , price inflation? collapse of the housing market (down 50,60,70%), gold 5000, fall of the dollar, bitcoin becoming worthless, ... I think its shorted to list the things he has rightly predicted.
I live in San Francisco and my house was $750,000 6 years ago. Now it's $2.1 million dollars. I would most definitely say that inflation is here, alive and well.
@@catsincredulous9998 And hold on to useless fiat currency?!? Not very sound financial advise. I would be better off renting it out and using the money to buy another piece of property.
@@333BellaLee I would never want to live in that dirty city to begin with. I would sell and buy a house elsewhere, particularly more rural but not far from the city, be self-reliant. Not sure why you assume you I think you have to hold fiat. You could easily buy a modest house, seeming that you need luxury, and buy other properties for rental, or whatever asset strikes your fancy.
@@catsincredulous9998 It's not that dirty. It's actually pretty clean. The areas that you see in the news are ghetto areas like The Tenderloin. I love this city and most residents in SF like it here as well as long as you live in a more decent area. I do grow food in my backyard as well such as tomatoes, kale, kabocha, lettuce, swiss chards, apples, lemons, jerusalem artichoke...
Hi Peter! I am a U.S. Citizen living in Germany. Inflation here in food prices are normally 5 - 10% at a time, and we see that 1 - 3 times per year. We also just had our local deli raise all prices 30% last week. But most people here trust their propagandist Government and the ECB saying there is NO inflation or it is not enough. Thank you for your tireless education for those willing to listen.
@@zigbeed just because all prices are continuously rising and all goods and services are becoming more expensive relative to everyone's wealth and income doesn't ipso facto indicate inflation is occurring. It could be just an odd coincidence happening across the entire Eurozone at the same time and may disappear without consequence if we prudently ignore it long enough. (says a Canuck in Germany)
This is awesome!!!!! Much much better hearing from you than other investors out there. I like how unique you are and the kind of logic you have, plus the way you illustrate things to its fundamental cores. You are an awesome teacher here! Appreciated :)
This is one of the best things you’ve done Peter! I probably learned more things from these two live streams than a lot of your other podcasts. Thank you for your wisdom!!
Good point peter. Usually price of gold decreases with deflation in the past however this time gold may take off regardless deflation or inflation. Always appreciate for your contents.
Great Live Stream Peter Schiff! I always enjoy listening to your entire podcasts while driving in the car; this new format has me sitting at my home desk watching you. WISDOM SPEAKS.
Like your dad you are a great man; a genius with a common touch. God bless you and thank you for educating a propagandized world. Your dad is smiling I'm sure..
You have a great sense of humor for putting up with all the ball busting that comes your way. Thanks for staying the course. You will be vindicated , because ; A is A .
I used to follow this dude religiously since high school which was 7 years ago and since high school he's been claiming the economy will one day collapse.
Just look at the packaging of groceries. Cereal boxes are half the size they used to be for the same price. You now have family size and party size justifying the higher price for the same portions of yesterday.
In New Zealand 10 years ago the price of a big Mac was $3.50, now they are $8.50, however you can buy a double Big Mac (2xBM) fries and coke combo for $6.50. The New way of promoting Big Macs to shift volume has broken the old Big Mac index that is till used. One could argue that Big Macs are now significantly cheaper than they were 10 years ago
I dont think so just for the fact that they have provisions not to let over seas dollars back in to create the hyperinflation.. they control all the money clearing systems and have provisions for a panic like that, but they cant stop the high amounts of inflation we will get. We are already seeing large amounts of inflation and price increases.
Daniel Purdy # I think you missed M88’s point. I think what he is saying and I agree, that when this thing starts to come unraveled it going to get real ugly.
Another great live stream. I dont care about the audio issues in the beginning; youd have to iron things like that out no matter who you are. Great job pete.
Peter Deflation will happen without the price of gold going down. Look at 2008 crash for example, I got my house for 50 grand in 2011 and gold was trying to push 2000. Now gold is in the 14s and my house is worth 220 grand. Deflation is always present before hyperinflation.
@@I_Died_2_Weeks_Ago I sold only 5 % of my shares in miners at the top. I stay invested with two miners. 60 % of my trading portfolio Won't sell them. Sold too few. Did not expect that downturn. You was lucky. I like that.
I appreciate the definition of the terms. So many people argue a point without even defining the terms and are really just talking past each other. That's frustrating for a viewer. It's interesting to realize that one of the reasons the government wants an inflation of the money supply is to steal the benefit of prices that would naturally be going down and advantage the Citizen. But the consumer wouldn't even notice it like the frog in the pot. I always understood they expanded the money supply to depreciate the value of their borrowing - borrowing a trillion to pay a quarter billion back. But stealing the benefit of what should be lower prices (increased buying power) is just another example of stealth taxation.
Here in Australia I've noticed about a 20% increase on many supermarket food items since January 2020 (it's now May 2020). Some examples off the top of my head: 500g supermarket branded pasta A$1 to A$1.20; 3kg bag of Californian oranges A$6.50 to A$8; regular (18% fat) beef mince 1kg A$10 to A$12; Norco branded organic milk 2 litre A$4.20 to A$4.80; mild supermarket branded cheddar cheese 1kg A$7 to A$8; 400g tin branded Italian diced tomatoes A$1.10 to A$1.40; 24 rolls Kleenex toilet paper A$11 to A$12. I don't yet have a handle on fresh fruit and veg because it's seasonal, but a head of curly lettuce went from A$2.50 to A$3 for a couple of weeks and then came back to A$2.50.
First he says house prices are going down because you can't reinflate an already inflated bubble. Then rents go up because of inflation which makes everything go up. I am getting a lot more confused by this deflation inflation explanation.
You're not supposed to do any thinking when Peter's making his case. But since you're breaking the rules, consider this: if in the upcoming recession real estate in San Jose (that's Silicon Valley) drops down by fifty percent (in dollars) which would you rather buy and own? Prime real estate in Silicon Valley or gold at 1400 oz? (Although Peter is saying gold will be selling for more than that going forward). Consider gold's intrinsic value and that of prime real estate.
@Greg Laxton If gold goes up to $10,000 an oz in the upcoming recession and an average sized house in Silicon Valley goes for $400,000 I think even you would buy the house over the 40 oz of gold. Unless you're insane. Someone missed the point, yes.
@@LisaMurphy I think he claimed real estate down 90% in terms of gold. But still if you claim hyperinflation, real estate will go up as well. Or does he believe first down and then up? But that is what he described as the deflationist's view. He believes real estate will price like Harry Dent believes gold will price: halve first and to the moon afterwards
@@modelmark I don't believe Peter has ever said he anticipates real estate going to the moon any time soon. He has only said the price of real estate will fall sharply from where it is now. While the price of gold will rise sharply. If you're asking how this makes sense, you're asking a good question. It doesn't.
@@LisaMurphy I would not say you would always exchange 40 oz of gold for a medium sized home. A doormen in a hotel in Germany once got a gold coin as a tip. Later, approaching WWII, he could buy the hotel for the gold coin. I don't know if he did or not, but not by definition a good choice. There is a reason the hotel was so cheap and gold so expensive. Gold allowed you to run away with your wealth. The hotel could be destroyed in the upcoming war. You could even have negative cashflow on the hotel, because of maintenance, no guests, un fire-able minimum wage labor. In SV 400k seems like a steal now, but what if VC capital dries up and people discover that tech companies burn rate has it's downside?
I agree with you what "REAL" money is Peter. I also agree with you on Inflation. My guestion is on government bullion vs private mint. Render to Caesar what is Caesar's. If Caesar's face or a government politician is on the bullion does it make it Caesar's or the government's to claim? Caesar has no claim on private mint bullion. I want a bullion coin with Peter on the obverse.
If predicting the gfc was your badge of honor, then I guess I should get an award too, because i was out organizing and warning people about this stuff back in 2003. And I was only 20 at that time
Sorry. I may be mincing words, like "tradable" and "liquid", but here's my take. I think the primary lesson here is there is, at any one time, only a fixed stock of goods and services, all in a whole at a fixed value. When the government consumes it, you have less of it to consume and your tradable and liquid commodities, such as your dollars, are worth less. When the government leaves it for you, you have more of it to consume and you get more value for your tradable and liquid commodities. Another lesson is that when the whole pool of tradable and liquid commodities grows and the whole value of goods and services produced does not grow, the prices increase to account for the growth in liquidity as well as the drop in the value of goods and services. Also, when the pool of tradable and liquid commodities shrinks and the whole value of goods and services grows, the prices decrease to account for the shrinking in liquidity as well as the increase in value of the stock of goods and services. Finally, when the government taxes, it leaves less money for the consumer to purchase goods and services with and intends or plans to use the money for consuming a portion of the stock of goods and services. It could provide a rebate, however, so it's merely intention and not action. Also, when the government spends, it puts the intention of consumption into action and leaves less for consumers.
When you seek expert advice, seek it from an expert. Peter IS an expert and I believe what he is saying. There is a crash coming and other big thinkers are saying the same thing. US Govt policies are ruinous. Together with the Fed, that's a marriage on the rocks.
Blue is way better, plus I really like this new format. Your amazing Peter, radical, shit I hope I have enough time to buy some gold and more silver. I wanna by the dimes, in gold and dimes, quarters and oz. in silver.
Thank you for the definitions. Prices change due to many things, such as supply and demand, having nothing to do with inflation of the money supply. Inflation of the money supply influences the supply of currency. "Inflation" is entirely on the currency side of the transaction. "Price" is determined by the supply and demand of the item being bought and sold. Real money is like a real yardstick, and doesn't change value as much as the item being priced will do. But fake money is as variable -- or more so -- than a real thing being bought and sold. Inflate a balloon or a tire by adding empty space. Fake money is empty space.
This is great Peter here Jamaica I'm following closely on what's happening . I would love for you sometimes to give us your economic views on Jamaica economy . The reasons for this guys is this Jamaica stock market was just pronounced at the start of the year by Bloomberg as the best performing of all markets in 2018 and as well 2105 . One of the reasons for this is the massive restructuring the Jamaica's government undertake on a IMF program bringing debt to GDP from 150% to 100% , current account deficits srink massively as well the fiscal deficit was almost wipe out , inflation plunge as well with Jamaica recording even deflation few times even though on a monthly basis . Do your homework n research on this Peter n share our views with us I think we can learn more about economics by comparing these stories .
If you could not print more fiat then it would be sound money. Gold is sound money because you can not print more. Some cryptos are sound money as you can not print more!
It's being copied by thousands of other crypto currencies, so no, its not sound money. It's an inflated market of the same shite as the basket of fiat. Same concept but digitised.
@@Farmynator No , as I said. "Some cryptos are sound money, as you can not print more!" That is not inflation. There are different crypto's doing entirely different things. Just like there are different metals doing different things. Well bad example as some metals do do similar things. You just do not know anything about this subject and rather than informing yourself, you take the lazy way out and disregard it as shite. I do get why, but what you said is simply wrong.
Well, we are here."To Pivot or not to Pivot." Im Prepared after watching it all get worse for the last 15 years since im only 39 right now.Coulnd care much about it at 25 when girls were a better investment short term back then. :).I still see them push it one step further .Just to make sure its a hyperinflation,depression with some nuclear bombs as cherries on top.Youy were right about inflation,student debt, etc. Thank You
Entertaining and educational as always Mr. Schiff....Thank you very much for doing these livestreams Peter, much appreciated. (would it be selfish of me to say I wish this fake economy lasts another 30 years?)
While house prices are rising, it's inflation, while they're dropping, it's deflation, because 90% of the money created for a mortgage is new money created out of thin air by the bank! Inflation, is by definition, an increase in money supply.
Extremely overpriced, specially when you could buy hydrogen peroxide instead for $1 and it last twice as long if you diluted it. But I get the point, things are way too expensive.
Yeah, I started making a chemical free and cheaper version,clean water(half a liter or about a big listerine bottle worth), sea salt (4-5 table spoons) and peppermint/tea tree essential oil (20-30 drops total). Probably cost me $1 and avoids the chemicals.
Dick Trickle, lol, the best name ever in the History of NASCAR Racing!! Imagine the parents state of mind 😮 the day they signed his birth certificate?? It all worked out well I for Dick,lmao, miraculously. Reminds me of a guy who was in my gym class named you guessed it, Mike Hunt !! My God, I recall being suspended for three days from my school. After I walked out across the hall from my gym class & into an empty main office , with the secretary absent & pages him to the office, barely stifling my laughter. I busted out laughing when I walked back to my class,-& looking back , I'm guessing how I gave myself away & got caught , after the fact. It was worth it,never laughed so hard in my life.😂
Love this format, but please add a chat element to have live stream chats in your screen for watchers after-the-fact. It's nice seeing everyones chat scroll by, and helps with the context of things.
"There's nothing that's more expensive than something the government provides for free." - P.Schiff
@Tomthebomb 100% correct
There is nothing more expensive then a bank creating more money out of thin air! Your founding fathers.
But who ends up paying that bill, when they print money! Hey.
@Tomthebomb
Government is still heavily involved in American health care the FDA causes drug prices to be insanely expensive to get drugs to market.
The government makes everything they touch more expensive also being from england i have to pay 12% of my wage for "Free healthcare" so the more i earn the more itll cost me which btw i never use because good lord the waiting times to get anything done is unbelievable id rather pay and extra £90 for private healthcare with my company if i needed it
@Tomthebomb
Look up how much money the NHS in england spends on paracetamol they spend £7 a packet when i can get it for 40p over the counter...
Not sure how thats cheaper than private
Mr. Schiff! This is a far better platform to communicate with listeners! I know you’re a busy man, but please continue to run live streams as much as possible! It gives your fans a chance to ask unique questions and get your answers in real-time.
Agreed. Even just the fact of adding the video makes it more enjoyable to listen and watch
Wow he's busy and he talks almost for 3 hours imagine if he wasn't it would have been 15 hours.
"Expecting the government to put out honest statistics on inflation is like expecting the mafia to give out honest statistics about crime", priceless quote
Someone needs to start a "Best of Schiff" series
Ohh but you repeat yourself. 😂😂
Peter your father will always be my hero in 1982 his books changed my life for the better
Peter Schiff is a total legend. He is like an Old Testament prophet of economics. May God Bless this wonderful and sincere man.
If anyone makes fun of this guy spending 3 hours of his time to educate us for free, they should get the shit trolled out of them. Plain and simple. Thank you Peter
It's his marketing strategy. Great nevertheless.
@@reeeems You can also get on youtube and get some great responses by someone titled, digle mccringleberry.
@@rayg5604 😂
Another idiot he can ttake advantage of he spends 3 horus on here trying to sell his funds obviously u have not invested in them and loss so SHUT UP and troll that
Quote of the day: "There is no ceiling on gold because there is no floor on the dollar." - Peter Schiff
@@reeeems oh there is def a floor. The dollar well federal reserve note will fall.
There is a floor its 0, so the ceiling on gold is infinity
Man I remember watching Peter Schiff's news appearances on his website back in 2006. This man has taught me sound economics. Now working on building up my wealth trading forex.
Thank you Peter Schiff for educating so many for free! You definitely live up to the ethos & integrity of your late father Irwin.
Blessings to you & yours ❤
How's the trading going?
I'm looking to do this too, but I definitely want to know a bit about every market I can trade as well as Forex like indices, stocks, commodities etc.
I'm a UK citizen but Peter Schiff (and Ray Dalio) are really teaching me a lot about Economics.
How is your trading going?
It's good. Still learning, still growing & adding to my strategy
Two hours with Peter! Priceless
I've personally been a skeptic but his arguments made so much sense I actually agree with him now. He is on point, dude is seeing into the future.
Everything he says makes sense yet his prediction completely fail. He obviously is missing a big piece of the puzzle.
@@HR-yd5ibWhich of his predictions didn't come true?
@@fishofgold6553 , price inflation? collapse of the housing market (down 50,60,70%), gold 5000, fall of the dollar, bitcoin becoming worthless, ... I think its shorted to list the things he has rightly predicted.
I learned more about economics from you than from my bachelor degree
Dennis
Fuuuuck yeah
What School did you go to?
Right Lane the wrong one😋
My economics degree ... useless Keynesian cult training.
@@Bitcoin_Satan same.... i took several macro courses and always ssumed what i was being taught was a fact
I live in San Francisco and my house was $750,000 6 years ago. Now it's $2.1 million dollars. I would most definitely say that inflation is here, alive and well.
congrats!!
I'd sell it and get out.
@@catsincredulous9998 And hold on to useless fiat currency?!? Not very sound financial advise. I would be better off renting it out and using the money to buy another piece of property.
@@333BellaLee I would never want to live in that dirty city to begin with. I would sell and buy a house elsewhere, particularly more rural but not far from the city, be self-reliant. Not sure why you assume you I think you have to hold fiat. You could easily buy a modest house, seeming that you need luxury, and buy other properties for rental, or whatever asset strikes your fancy.
@@catsincredulous9998 It's not that dirty. It's actually pretty clean. The areas that you see in the news are ghetto areas like The Tenderloin. I love this city and most residents in SF like it here as well as long as you live in a more decent area. I do grow food in my backyard as well such as tomatoes, kale, kabocha, lettuce, swiss chards, apples, lemons, jerusalem artichoke...
Hi Peter! I am a U.S. Citizen living in Germany. Inflation here in food prices are normally 5 - 10% at a time, and we see that 1 - 3 times per year. We also just had our local deli raise all prices 30% last week. But most people here trust their propagandist Government and the ECB saying there is NO inflation or it is not enough. Thank you for your tireless education for those willing to listen.
It’s now 2022 how is it now ?
@@zavinci Hey Zackery, food goes up 50 - 100% at a time. The gov. says it's only 8%.
@@zigbeed just because all prices are continuously rising and all goods and services are becoming more expensive relative to everyone's wealth and income doesn't ipso facto indicate inflation is occurring. It could be just an odd coincidence happening across the entire Eurozone at the same time and may disappear without consequence if we prudently ignore it long enough. (says a Canuck in Germany)
@@angusmcbagus Exactly! Ignore it and pretend all is well, as they say here.
One of the few guys who is willing to tell the American people the truth.....
This is awesome!!!!! Much much better hearing from you than other investors out there. I like how unique you are and the kind of logic you have, plus the way you illustrate things to its fundamental cores. You are an awesome teacher here! Appreciated :)
Loving these live streams, I could listen to Peter all day every day!!
This is one of the best things you’ve done Peter! I probably learned more things from these two live streams than a lot of your other podcasts. Thank you for your wisdom!!
You are a good father Peter. Answering your son call making sure he is okay ♥️ My father saved my life like this.
I am loving how you are branching out and learning the live stream stuff. More Peter Schiff is ALWAYS good in my book.
Good point peter. Usually price of gold decreases with deflation in the past however this time gold may take off regardless deflation or inflation. Always appreciate for your contents.
Thanks for this Peter, you've taught me a lot about economics over the years.
Maybe you can do one livestream per month?
I learn so much from these live videos! thanks a lot Peter! keep it up!
Your material ages REALLY well. 3 years later and, just like a super slow motion train wreck…. We’re still on track and visibly moments from disaster
No way, my phone auto played this one lying down, I thought it was recorded this week, not 3 years ago reflecting the facts
Yup me 2
Thank you, Mr Schiff. I've learned more about the reality of money from you in a couple of hours than I learned in my life to date.
A true Patriot, thank you for making this huge investment of your time educating the public in hopes of protecting them.
Mr. Schiff you are a fun guy to listen to. Smart and humorous.
consumer inflation is there , its just you are receiving smaller and smaller items for the same price its hidden inflation
I think it was Dr. Pippa Malmgren whom coined the term shrinkflation.
And the quality of things is going down
Keep up the good work Peter. These Livestream are excellent!
Great Live Stream Peter Schiff! I always enjoy listening to your entire podcasts while driving in the car; this new format has me sitting at my home desk watching you. WISDOM SPEAKS.
Holy shit, this was 3 years ago? Feels like last year you did this lol
This format is fantastic! It allows ordinary folk to mask Qs on their minds and keep legendary answers
I've known you through all the BTC debates. Bitcoiners have run the best debate in favour of gold and an exit from fiat currency so far.
Like your dad you are a great man; a genius with a common touch. God bless you and thank you for educating a propagandized world. Your dad is smiling I'm sure..
You have a great sense of humor for putting up with all the ball busting that comes your way. Thanks for staying the course. You will be vindicated , because ; A is A .
love these live q&a sessions... please continue with them...
Agree; keep up your live streams Peter ! Very informative on a wide variety of topics.
EXCELLENT work!!! PETER, please do more VIDEO Format vids- way better! Thank you for the golden insights.
That commercial real estate piece was prophetic. Great job Peter!!!
Amazing work peter. Keep it up.
Thanks a lot Peter.
Thank you Peter, great video as always, I will be buying your fathers books
Thank you for helping us little people to understand better with your knowledge , thank you Peter...thus helped me a lot
Peter Schiff- Entertaining, educational, humorous.... What more could you ask for? As good as Gold!
Excellent job Peter. This format suits you tremendously. One big thumbs up! jw
Do this more often Peter! So much valuable info. Thx for taking the time to answer/explain ✌🏼
"I am actually not wearing pants ... I am wearing a bathing suit" hahahahahahahaha
Absolutely brilliant video Peter. Good subject. Very timely. Thanks.
I used to follow this dude religiously since high school which was 7 years ago and since high school he's been claiming the economy will one day collapse.
It’s collapsing he is right. Collapse doesn’t mean immediately , but over time.
it collapsed in 2008, it just been kept alive be QE and low interest rates. This makes the bubble bigger and the felt collapse deadly.
Inflation is here and the easiest way to see it is to check the Big Mac Index. Remember when they were 2 for $3?
vaxen805, I remember when they were made of real meat, made fresh for 55 cents each. I haven’t been to a McDonalds or any restaurants in years.
Just look at the packaging of groceries. Cereal boxes are half the size they used to be for the same price. You now have family size and party size justifying the higher price for the same portions of yesterday.
@@jimlovesgina it might get serious when every package is "Fun Size"
I'd rather get 2 whoppers for $5 . . . .
In New Zealand 10 years ago the price of a big Mac was $3.50, now they are $8.50, however you can buy a double Big Mac (2xBM) fries and coke combo for $6.50. The New way of promoting Big Macs to shift volume has broken the old Big Mac index that is till used. One could argue that Big Macs are now significantly cheaper than they were 10 years ago
Peter was understating the economic situation in the US and EU. It won't be Argentina, it will be similar to Venezuela or worse.
M88 S28 no it won’t.
I dont think so just for the fact that they have provisions not to let over seas dollars back in to create the hyperinflation.. they control all the money clearing systems and have provisions for a panic like that, but they cant stop the high amounts of inflation we will get. We are already seeing large amounts of inflation and price increases.
Daniel Purdy # I think you missed M88’s point. I think what he is saying and I agree, that when this thing starts to come unraveled it going to get real ugly.
You know inflation is real when your local barbershop raises prices. Is that simple.
Peter schiff is a true patriot.
Another great live stream. I dont care about the audio issues in the beginning; youd have to iron things like that out no matter who you are. Great job pete.
When is the next live stream Peter? Just went back and heard this livestream again. Lots of good points that came true post pandemic. We are there.
Thanks for a great podcast Peter!!!! worth the time listening to this
Peter Deflation will happen without the price of gold going down. Look at 2008 crash for example, I got my house for 50 grand in 2011 and gold was trying to push 2000. Now gold is in the 14s and my house is worth 220 grand. Deflation is always present before hyperinflation.
Thanks for uploading Peter and keep up the good work!
oh man! how did i miss this live? Loved the last one. Love Peter!
1:50:13 😅👍
Ahh.. this is one of the reasons why we love you Peter, sense of humour.
I own Gold and silver-stocks with 70% of my portfolio. I am up 40 % for the last two years.
sorry today 45 % up, only with 3 Stocks in the Mining-sector
Congratulations. Iam up 43% as of today.
@@rararasputin4960 Congratulations too, thanks
Cashed out up 60% last week in gold miners 🤫
@@I_Died_2_Weeks_Ago I sold only 5 % of my shares in miners at the top. I stay invested with two miners. 60 % of my trading portfolio
Won't sell them. Sold too few. Did not expect that downturn.
You was lucky. I like that.
Jesus this guy knows what he’s talking about
I appreciate the definition of the terms. So many people argue a point without even defining the terms and are really just talking past each other. That's frustrating for a viewer.
It's interesting to realize that one of the reasons the government wants an inflation of the money supply is to steal the benefit of prices that would naturally be going down and advantage the Citizen. But the consumer wouldn't even notice it like the frog in the pot. I always understood they expanded the money supply to depreciate the value of their borrowing - borrowing a trillion to pay a quarter billion back. But stealing the benefit of what should be lower prices (increased buying power) is just another example of stealth taxation.
Peter I wish you the best of health. We need economic bust voices like you!
Here in Australia I've noticed about a 20% increase on many supermarket food items since January 2020 (it's now May 2020). Some examples off the top of my head: 500g supermarket branded pasta A$1 to A$1.20; 3kg bag of Californian oranges A$6.50 to A$8; regular (18% fat) beef mince 1kg A$10 to A$12; Norco branded organic milk 2 litre A$4.20 to A$4.80; mild supermarket branded cheddar cheese 1kg A$7 to A$8; 400g tin branded Italian diced tomatoes A$1.10 to A$1.40; 24 rolls Kleenex toilet paper A$11 to A$12. I don't yet have a handle on fresh fruit and veg because it's seasonal, but a head of curly lettuce went from A$2.50 to A$3 for a couple of weeks and then came back to A$2.50.
I can tell every single person on the face of the earth that PETER SCHIFF has educated me more than any one else.
Ditto
First he says house prices are going down because you can't reinflate an already inflated bubble. Then rents go up because of inflation which makes everything go up.
I am getting a lot more confused by this deflation inflation explanation.
You're not supposed to do any thinking when Peter's making his case. But since you're breaking the rules, consider this: if in the upcoming recession real estate in San Jose (that's Silicon Valley) drops down by fifty percent (in dollars) which would you rather buy and own? Prime real estate in Silicon Valley or gold at 1400 oz? (Although Peter is saying gold will be selling for more than that going forward). Consider gold's intrinsic value and that of prime real estate.
@Greg Laxton If gold goes up to $10,000 an oz in the upcoming recession and an average sized house in Silicon Valley goes for $400,000 I think even you would buy the house over the 40 oz of gold. Unless you're insane.
Someone missed the point, yes.
@@LisaMurphy I think he claimed real estate down 90% in terms of gold. But still if you claim hyperinflation, real estate will go up as well. Or does he believe first down and then up? But that is what he described as the deflationist's view. He believes real estate will price like Harry Dent believes gold will price: halve first and to the moon afterwards
@@modelmark I don't believe Peter has ever said he anticipates real estate going to the moon any time soon. He has only said the price of real estate will fall sharply from where it is now. While the price of gold will rise sharply. If you're asking how this makes sense, you're asking a good question. It doesn't.
@@LisaMurphy I would not say you would always exchange 40 oz of gold for a medium sized home. A doormen in a hotel in Germany once got a gold coin as a tip. Later, approaching WWII, he could buy the hotel for the gold coin. I don't know if he did or not, but not by definition a good choice. There is a reason the hotel was so cheap and gold so expensive. Gold allowed you to run away with your wealth. The hotel could be destroyed in the upcoming war. You could even have negative cashflow on the hotel, because of maintenance, no guests, un fire-able minimum wage labor.
In SV 400k seems like a steal now, but what if VC capital dries up and people discover that tech companies burn rate has it's downside?
The crazy way the Fed is printing money, and the rapidly rising price of food at a super market, I have to agree with Schiff...
PETER, YOU JUST DON'T UNDERSTAND MAGIC...
lol
Magic currency and unicorn assets of fairy tale proportions. I must admit it is all beyond my understanding.
Voodoo economics lol
@@Eagleorify 3DFX economics
Hah
Some great content in this debate hope to see more in the future.
I agree with you what "REAL" money is Peter. I also agree with you on Inflation. My guestion is on government bullion vs private mint. Render to Caesar what is Caesar's. If Caesar's face or a government politician is on the bullion does it make it Caesar's or the government's to claim? Caesar has no claim on private mint bullion. I want a bullion coin with Peter on the obverse.
Thanks for the candid information.
If predicting the gfc was your badge of honor, then I guess I should get an award too, because i was out organizing and warning people about this stuff back in 2003. And I was only 20 at that time
Sorry. I may be mincing words, like "tradable" and "liquid", but here's my take.
I think the primary lesson here is there is, at any one time, only a fixed stock of goods and services, all in a whole at a fixed value. When the government consumes it, you have less of it to consume and your tradable and liquid commodities, such as your dollars, are worth less. When the government leaves it for you, you have more of it to consume and you get more value for your tradable and liquid commodities.
Another lesson is that when the whole pool of tradable and liquid commodities grows and the whole value of goods and services produced does not grow, the prices increase to account for the growth in liquidity as well as the drop in the value of goods and services. Also, when the pool of tradable and liquid commodities shrinks and the whole value of goods and services grows, the prices decrease to account for the shrinking in liquidity as well as the increase in value of the stock of goods and services.
Finally, when the government taxes, it leaves less money for the consumer to purchase goods and services with and intends or plans to use the money for consuming a portion of the stock of goods and services. It could provide a rebate, however, so it's merely intention and not action. Also, when the government spends, it puts the intention of consumption into action and leaves less for consumers.
Peter. Been some time since I've seen and heard from you. Very good video. Well spoken. !!!
"I don't know when some of these guys are going to throw in the towel. Are they going to wait for gold to go to 1500 1600 2000?"
YEP🤣
Thank you. I appreciate your insight and perspective.
Great Q&A show Peter I enjoy all the insight. I do hope we can discuss the exporting of inflation of dollars one day.
Excellent stream, not one advert as well thanks Peter!
It's awesome and so you to answer a call during live stream.
Great show. Great format. Great information. Thank You.
When you seek expert advice, seek it from an expert. Peter IS an expert and I believe what he is saying. There is a crash coming and other big thinkers are saying the same thing. US Govt policies are ruinous. Together with the Fed, that's a marriage on the rocks.
Love what you do I hope to meet you one day thank you and my family thanks you in gold we trust
I still don't understand how companies like tesla, uber, and lyft exist. No profit in the last few years yet their worth more then big time companies.
The artificially low interest rates caused by the Fed have allowed unviable companies to get funding. Eventually they won't be able to survive.
Irrational exuberance !
Blue is way better, plus I really like this new format. Your amazing Peter, radical, shit I hope I have enough time to buy some gold and more silver. I wanna by the dimes, in gold and dimes, quarters and oz. in silver.
just go to your local coin shop 1 dollar silver face is about 15 dollars.
@@potato2941 I use SD bullion, they've been really nice and accurate and honest.
Yes - either way, it could have been avoided if they had balanced the budgets.
Thank you for the definitions. Prices change due to many things, such as supply and demand, having nothing to do with inflation of the money supply. Inflation of the money supply influences the supply of currency. "Inflation" is entirely on the currency side of the transaction. "Price" is determined by the supply and demand of the item being bought and sold. Real money is like a real yardstick, and doesn't change value as much as the item being priced will do. But fake money is as variable -- or more so -- than a real thing being bought and sold. Inflate a balloon or a tire by adding empty space. Fake money is empty space.
Peter touches on the problem of "measuring" with the elastic metric of irredeemable currency.
This is great Peter here Jamaica I'm following closely on what's happening . I would love for you sometimes to give us your economic views on Jamaica economy . The reasons for this guys is this Jamaica stock market was just pronounced at the start of the year by Bloomberg as the best performing of all markets in 2018 and as well 2105 . One of the reasons for this is the massive restructuring the Jamaica's government undertake on a IMF program bringing debt to GDP from 150% to 100% , current account deficits srink massively as well the fiscal deficit was almost wipe out , inflation plunge as well with Jamaica recording even deflation few times even though on a monthly basis . Do your homework n research on this Peter n share our views with us I think we can learn more about economics by comparing these stories .
People should really check this 2019 video
You're still on!!! Hahaha I bought your fathers books
If you could not print more fiat then it would be sound money. Gold is sound money because you can not print more. Some cryptos are sound money as you can not print more!
It's being copied by thousands of other crypto currencies, so no, its not sound money. It's an inflated market of the same shite as the basket of fiat. Same concept but digitised.
price of bitcoins 20k - 3k - 12k - 9k yeah thats sound af m8
@@Farmynator No , as I said. "Some cryptos are sound money, as you can not print more!" That is not inflation. There are different crypto's doing entirely different things. Just like there are different metals doing different things. Well bad example as some metals do do similar things. You just do not know anything about this subject and rather than informing yourself, you take the lazy way out and disregard it as shite. I do get why, but what you said is simply wrong.
Well, we are here."To Pivot or not to Pivot." Im Prepared after watching it all get worse for the last 15 years since im only 39 right now.Coulnd care much about it at 25 when girls were a better investment short term back then. :).I still see them push it one step further .Just to make sure its a hyperinflation,depression with some nuclear bombs as cherries on top.Youy were right about inflation,student debt, etc. Thank You
Entertaining and educational as always Mr. Schiff....Thank you very much for doing these livestreams Peter, much appreciated. (would it be selfish of me to say I wish this fake economy lasts another 30 years?)
While house prices are rising, it's inflation, while they're dropping, it's deflation, because 90% of the money created for a mortgage is new money created out of thin air by the bank! Inflation, is by definition, an increase in money supply.
I saw a bottle of Listerine for 9 bux in two different stores
Extremely overpriced, specially when you could buy hydrogen peroxide instead for $1 and it last twice as long if you diluted it. But I get the point, things are way too expensive.
Rob F ..stopped buying at 2.59
I just bought my daughter a $10 bottle of shampoo at Wal-Mart.
Yeah, I started making a chemical free and cheaper version,clean water(half a liter or about a big listerine bottle worth), sea salt (4-5 table spoons) and peppermint/tea tree essential oil (20-30 drops total). Probably cost me $1 and avoids the chemicals.
Violence or peace? If both what will be the most violent places in the U.S vs. safest places...
Dick Trickle, lol, the best name ever in the History of NASCAR Racing!! Imagine the parents state of mind 😮 the day they signed his birth certificate?? It all worked out well I for Dick,lmao, miraculously. Reminds me of a guy who was in my gym class named you guessed it, Mike Hunt !! My God, I recall being suspended for three days from my school. After I walked out across the hall from my gym class & into an empty main office , with the secretary absent & pages him to the office, barely stifling my laughter. I busted out laughing when I walked back to my class,-& looking back , I'm guessing how I gave myself away & got caught , after the fact. It was worth it,never laughed so hard in my life.😂
Love this format, but please add a chat element to have live stream chats in your screen for watchers after-the-fact. It's nice seeing everyones chat scroll by, and helps with the context of things.
Stop eating garbage before hand and take some tums! Every podcast, I can feel the heartburn coming thru the speakers
Big time.