“The reason we’re in trouble is not because the housing bubble burst. We’re in trouble because it inflated in the first place. We’re in trouble because while it was inflating we were recklessly borrowing and spending money. American citizens borrowed trillions of dollars from people all around the world and we blew the money.
Now that the bills are coming due and we’re just too broke to pay them, we’re seeing an implosion in these markets. Real Estate prices are coming back down, Americans are having to stop spending, credit is contracting – none of this is the problem. This is all the solution. This is all the consequences of reckless consumption and borrowing.
What we need in this country is more savings and less borrowing. We need more production and less consumption. But everything the government is doing right now – all the economic stimuli, all the bailouts – they’re designed to perpetuate the problem, to get us deeper into debt, and all they’re doing is throwing gasoline on the fire.”
Duration : 0:9:59
[youtube oSNzjVcbZO4]
she’s hot.
she’s hot.
This is one of …
This is one of Peter’s best interviews yet.
The reality of what Peter is saying shows through so strongly now. Silver coins could be used as currency. It wouldn’t be the first time.
go watch …
go watch myspacesecrets channel…he is awesome, and brings some good stuff to the table.
The government does …
The government does not want to talk to Peter Schiff. They do not want to fix any of our monetary problems. They want a monetary colapse. The New World order is whats coming and they cant have it with the U.S.A. as a superpower. Wake up you Americans are dummies.
Wake up you dumb …
Wake up you dumb Americans. Your government is behind the whole thing. Obama is the iceing on the cake. Watch the Obama Deception. Google it. Federal Reserve is courupt. They been behind it all.
I think the …
I think the government should be afraid. everyone I know is “fed” up with being raped on taxes and hearing about non-stop greed and irresponsibility.
Gold goes up to …
Gold goes up to $1,000,000,000,000,000,000,000,000,000.00
and it will be measured in Yen or Pounds
Gold is measured in …
Gold is measured in US dollars so what happens to the price of gold if the US dollar implodes ?
He’s still got XP, …
He’s still got XP, that tells ya all ya need to know
im scared!
im scared!
“the …
“the military-industrial comblex” not the military.
dismantle the …
dismantle the military… OKAY now I’m on board.
Our Govt. is in the …
Our Govt. is in the pockets of the world banks
Yeah, but that’ll …
Yeah, but that’ll never happen.
Until those running …
Until those running our government decide to abandon the failed Keynesian Economic model we have been following and accept the Austrian Free Market Economics model taught by Ludwig von Mises, we are doomed to the future Schiff describes in this interview.
The Federal Reserve …
The Federal Reserve should be disbanded.
This guy truly gets …
This guy truly gets it! He called this out years ago! It’s too bad our government continues to listen to the economists who all got it wrong! Unless Americans listen, we will soon face Financial Armageddon
This guy should be …
This guy should be head of the federal reserve.
lol @ title
lol @ title
EXCELLENT!!!
EXCELLENT!!!
Zing!
Zing!
Thanks for posting …
Thanks for posting this very good interview!