🔴 Peter Schiff Challenge: It's Inflation, NOT Deflation.
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- เผยแพร่เมื่อ 28 ก.ค. 2019
- Streamed live 7/29/19
Two Camps: Inflation vs Deflation -
I did the first live stream a couple of weeks ago; that was on bitcoin. I got a lot of feedback on that one and a lot of people were coming up with potential topics for the next one. I think the most common request was for inflation or deflation: which one is it going to be? Because there are a lot of people out there who see the world similar to the way I do, as far as the problems that are confronting the U.S. economy in particular but the global economy, but everybody seems to fall into two camps as to how it is all going to go down; whether it is deflation that is coming - we should prepare for that, or whether it is inflation that's coming and you should prepare for that. Now I am an inflationist. I am in that camp. Other people in that camp may be, like Jim Rickards or Jimmy Rogers or Marc Faber - there are a number of people who would be in the inflation camp. Deflation would be guys like Robert Prechter, Harry Dent, there are a number of guys that are looking for deflation.Defining TermsNow before I really get into it, I want to talk a little bit about the terms, so we know what we're talking about. Let's define the terms.
What is inflation? -
What is deflation? The actual definition of inflation, the actual meaning of the word, is an expansion of the money supply.What does "Inflate" Really Mean?That's what inflation is; it's not about prices. If you think of the word, "inflate" - what does inflate mean? It means to expand. You inflate a balloon; when you inflate a balloon, it expands. Prices don't expand - they go up, they go down; they don't expand. What expands? Money supply. When the government creates money, the money supply expands, like a balloon. It blows up. So that's what inflation is, it is an expansion of the money supply.
What is Deflation? -
Deflation is the opposite; it is a contraction of the money supply. Now when you inflate the money supply-you create more money - you have more money bidding up prices. So inflation will result in prices going up. But prices going up is not the inflation they are the consequence of inflation. - บันเทิง
"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. 😂😂
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
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
Peter your father will always be my hero in 1982 his books changed my life for the better
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.
@@jabberwocky1969 same.... i took several macro courses and always ssumed what i was being taught was a fact
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
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.
Two hours with Peter! Priceless
One of the few guys who is willing to tell the American people the truth.....
Peter Schiff is a total legend. He is like an Old Testament prophet of economics. May God Bless this wonderful and sincere man.
Loving these live streams, I could listen to Peter all day every day!!
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...
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.
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
That pants question was freaking hilarious
Haha for sure, that part had me dying. You can even see proof of his answer at 1:04:50
@@rtssven7367 pete wouldn't have even answered it if the guy didn't pay 5 bucks
Thanks for this Peter, you've taught me a lot about economics over the years.
Maybe you can do one livestream per month?
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 :)
I am loving how you are branching out and learning the live stream stuff. More Peter Schiff is ALWAYS good in my book.
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!!
A true Patriot, thank you for making this huge investment of your time educating the public in hopes of protecting them.
Keep up the good work Peter. These Livestream are excellent!
I learn so much from these live videos! thanks a lot Peter! keep it up!
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
Mr. Schiff you are a fun guy to listen to. Smart and humorous.
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
This format is fantastic! It allows ordinary folk to mask Qs on their minds and keep legendary answers
"I am actually not wearing pants ... I am wearing a bathing suit" hahahahahahahaha
Amazing work peter. Keep it up.
Do this more often Peter! So much valuable info. Thx for taking the time to answer/explain ✌🏼
oh man! how did i miss this live? Loved the last one. Love Peter!
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.
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.
love these live q&a sessions... please continue with them...
Peter schiff is a true patriot.
That commercial real estate piece was prophetic. Great job Peter!!!
Absolutely brilliant video Peter. Good subject. Very timely. Thanks.
Thanks for a great podcast Peter!!!! worth the time listening to this
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
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.
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.
Agree; keep up your live streams Peter ! Very informative on a wide variety of topics.
You are a good father Peter. Answering your son call making sure he is okay ♥️ My father saved my life like this.
You know inflation is real when your local barbershop raises prices. Is that simple.
Thanks for uploading Peter and keep up the good work!
Thanks for the candid information.
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.
Thank you. I appreciate your insight and perspective.
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
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 .
Great show. Great format. Great information. Thank You.
Thank you Peter, great video as always, I will be buying your fathers books
EXCELLENT work!!! PETER, please do more VIDEO Format vids- way better! Thank you for the golden insights.
Thank you for helping us little people to understand better with your knowledge , thank you Peter...thus helped me a lot
Excellent stream, not one advert as well thanks Peter!
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.
Some great content in this debate hope to see more in the future.
Thanks a lot Peter.
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.
1:50:13 😅👍
Ahh.. this is one of the reasons why we love you Peter, sense of humour.
Great Show Peter thank you !
Peter I wish you the best of health. We need economic bust voices like you!
Holy shit, this was 3 years ago? Feels like last year you did this lol
Peter. Been some time since I've seen and heard from you. Very good video. Well spoken. !!!
Inflation is a disguised tax
Great Q&A show Peter I enjoy all the insight. I do hope we can discuss the exporting of inflation of dollars one day.
Many thanks for the economics education
Wow 👏😮👏 Masterpiece!
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
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.
My god man, lol let me help you with your post production editing. Seriously. I can definitely help with your live streaming stuff, real time chat n interaction aspect etc. Love your content, doesn't hurt your %100 right in your views.
Love what you do I hope to meet you one day thank you and my family thanks you in gold we trust
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..
Nice explanation, clean and simple. Greetings from Argentina !!
you are the man. keep it up!
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.
You're still on!!! Hahaha I bought your fathers books
I can tell every single person on the face of the earth that PETER SCHIFF has educated me more than any one else.
Ditto
1:50:21 Peter Stiff 😎
It's awesome and so you to answer a call during live stream.
"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🤣
Very valuable, thanks
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.
Thank you.
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.
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
Thanks so much Peter for sharing your knowledge of the economy. Keep up the great work bro much love
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.
Peter this is ace.You’re my mentor
Huge fan of the live stream
keeps talking about bitcoin. love it
You’re right!!!
Liking the improved live stream
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.
I'm adopting Peters strategy.
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 !
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?)