Tag Archives: Peter Schiff

Peter Schiff ~ The Whole Bubble Economy Will Implode [Video]

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Before It’s News May 3 2013

Yesterday, on CNBC’s Squawk Box, Peter Schiff explained how the Fed’s stimulus has only delayed the real recession that will ultimately trigger a dollar collapse, and why Japan is stewing in the same brew of bad money.

“The bottom will drop out of the dollar. The US dollar is going to lose a lot of value. Not only against goods, but against other fiat currencies. The dollar is going to go down, that’s going to push prices up higher in the United States, consumer prices. Eventually the fed is going to have to turn off the presses in order to save the dollar and that’s when the real fun begins, because that’s when this whole bubble economy implodes…”9

Peter Schiff ~ Get Real Money, Gold And Silver – As The Fed Will Not Stop Printing Money [Video]

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USA Watchdog | January 7 2013

Money manager Peter Schiff warns that Japan will likely stop buying U.S. government debt.  He contends, “If the Central Bank of Japan has a choice between monetizing Japanese debt or U.S. debt, they’ll go for their own debt . . . that means the Fed has to print even more money.”  Closer to home, the new debt deal also means more money printing because of even bigger deficits.

According to Schiff, “The majority of the tax increases were cancelled.  The spending cuts were cancelled . . . the Fed is going to have to keep buying bonds to keep interest rates from surging.”  Schiff thinks talk from the Fed about stopping the $85 billion a month money printing (QE) is preposterous.  Schiff says, “They can’t do it. . . . The minute they try to take the cheap money away, the phony economy is going to crumble.”  What’s not going to crumble is the gold and silver market.  Even though precious metals have been down recently, Schiff says, “So what, buy more.  Look at the sell off as an opportunity to unload more of your fiat currency and get some real money.”  Join Greg Hunter as he goes One-on-One with Peter Schiff, CEO of Euro Pacific Precious Metals.

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GE Christenson ~ The Power And Greed Pyramid

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Deviant Investor | December 31 2012

pyramid

“Outrageous HSBC Settlement Proves the Drug War is a Joke” says Matt Taibbi of the Rolling Stone. He leads with “If you’ve ever been arrested on a drug charge, if you’ve ever spent even a day in jail for having a stem of marijuana in your pocket or “drug paraphernalia” in your gym bag, Assistant Attorney General and longtime Bill Clinton pal Lanny Breuer has a message for you: Bite me.” Taibbi is refreshingly direct. Please read his article.

The settlement shows, in my opinion:

  • The excuse was “Criminal prosecution might topple the bank and endanger the financial system.” If that is true (doubtful) in what condition is our financial system, even after $Trillions of bailouts? If it is not true, what does that say about the “rule of law” and corruption at the top?
  • Laundering $Billions in drug money is a criminal offense, but not prosecutable, if done by politically connected bankers.
  • If bankers are not prosecuted for “vast and prolonged” money laundering and aiding “terrorism” then we have a clear confirmation that “too big to fail” (TBTF) banks are higher up the power pyramid than government officials.
  • Supposedly the war on drugs is important. We have spent $Billions and put millions in jail to discourage drug use (How is that working for us?) so it must be important. But apparently it is actually not important if a TBTF bank is laundering $Billions in drug money each year (month?).
  • Supposedly the war on terrorism is important. We have spent $Trillions and killed many people to fight “terrorism” (How is that working for us?) so it must be important. But apparently it is not important if a TBTF bank is assisting the illegal transfer of $Billions to terrorist organizations.

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GE Christenson ~ We Have Been Warned – Part 2

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Deviant Investor | October 23 2012

Voltaire said in 1729: “All paper money eventually returns to its intrinsic value – ZERO.” WE were warned – almost 3 centuries ago. Bernanke announced QE3 on September 13, 2012 – the next step in the process of pushing the dollar down toward its intrinsic value. Not only is the Fed making a commitment to purchase $40 Billion per month of MBS (mortgage backed securities) from large banks with “newly printed money,” it is also making an open ended commitment – there is no end date. Ultimately this is highly inflationary for the American public and very beneficial for the banks holding what is often referred to as “toxic waste” (MBS) that can be dumped onto the Fed at full face value. Hopefully the bailouts to the banks will allow them to loan that newly created money into the economy so it benefits real people and “Main Street.” Regardless, we have been warned about the consequences of printing money and the resulting consumer price inflation.

QE3 looks like a desperate act to feed money to large banks, offload MBS toxic waste from their balance sheets, and devalue the dollar against houses, commodities, and other currencies. There will be significant collateral damage but apparently funneling money to the banks is more important.

It was inevitable that such action created an abundance of commentary. I have quoted a number of respected economists and critical thinkers on the subject of QE3. All links are listed at the end of this article.

Peter Schiff is a best-selling author and famous for calling the housing bubble when almost everyone thought he was an extremist and utterly wrong. History has proven he was correct then, and I believe he is correct now. He stated:

“In the meantime, the implications for American investors should be clear. The Fed will try to conjure a recovery on the backs of currency debasement. It will not stop or alter from this course. If the economy fails to respond to the drugs, Bernanke will simply up the dosage. In fact, he is so convinced we will remain dependent on quantitative easing that he explicitly said he won’t turn off the spigots even if things noticeably improve. In other words, the dollar is screwed.” (Operation Screw)

Daniel Amerman wrote regarding Bernanke, QE3, and the effort to devalue the dollar:

“This building crisis of a strengthening dollar and rising unemployment called for emergency action, and that is exactly what Bernanke is doing. He is effectively calling in a B-52 strike on the US dollar, monetizing for the world to see, and pledging to monetize for as long as it takes – until the US dollar is driven down to a level where American workers can once again be globally competitive.” (Unraveling Why A Fed President Just Suggested Doubling QE3)

Peter Schiff also wrote on Bernanke, QE3, and the necessity for a poor memory in the economics profession:

“Instead he explained how the new stimulus would be focused directly at the housing market through purchases of mortgage backed securities. He made clear that this strategy is intended to spark a surge in home prices that will in turn pull up the broader economy. Such a belief requires a dangerous amnesia to the events of the last decade. Despite the calamity that followed the bursting of our last housing bubble, economists feel this to be a wise strategy, proving that a poor memory is a prerequisite for the profession.” (The Fed Plays All Its Cards)

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Peter Schiff ~ Dollar Vulnerable to a Massive Collapse, Buy Gold and Silver [Video]

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USAWatchdog.com | September 19 2012

Money manager Peter Schiff says, “The stage has been set for a currency crisis and a sovereign debt crisis, and they’re going to come relatively soon.”  Schiff says the latest round of “unlimited” money printing by the Fed has only “postponed the collapse.”  Schiff, who recently wrote a book called “The Real Crash,” thinks, “The longer we wait, the worse it’s going to be.”  So, why don’t politicians do something to stop the collapse that many know is coming?  For one thing, Schiff says,“The political backlash will be enormous. . . . Nobody wants to be the messenger who gets shot because of the message.”  There is going to be a crisis dead ahead because, according to Schiff,“The dollar is vulnerable to a massive collapse . . . buy gold and silver.”  Join Greg Hunter as he goes One-on-One with Peter Schiff, the CEO of Euro Pacific Precious Metals.  

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Mike Adams ~ Infinite Quantitative Easing (QE3) Now Initiated; The Final Chapter Of America’s Financial Blowout Has Begun

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Natural News | September 16 2012

Natural News ~ This is it, folks: the final chapter of America’s great financial blowout has begun. The Federal Reserve’s decision to announce “infinite” quantitative easing has now put us all on the path of infinite money creation. With up to $85 billion in monthly money creation — including $40 billion a month in purchases of mortgage-backed securities — the Fed is now wholly committed to the creation of new fake money to cover old fake debts. Mathematically, this financial death spiral can only end in sheer catastrophe.

This massive money creation tactic is the Fed’s last-ditch plan to desperately try to save the economy. “I think the country should have panicked over what the Fed is saying that we have lost control,” said Ron Paul, “and the only thing we have left is massively creating new money out of thin air, which has not worked before, and is not going to work this time.”

Peter Schiff added, “This is a disastrous monetary policy; it’s kamikaze monetary policy.” (End Of the American Dream)

And he’s right. It’s suicide. It’s also highly offensive to anyone who can actually do math… which, sadly, isn’t that many people these days.

Steal from the poor to give to the rich

Quantitative easing, you see, is essentially the Federal Reserve creating money and then handing it to the richest banks. Meanwhile, all that new money floating around erodes the value of the dollars in the hands of the working taxpayers. So their grocery bills go up. Their fuel costs go up. Their daycare costs increase and their utility bills creep ever skyward.

But the rich banksters are simultaneously rolling in FREE Fed cash, and instead of actually lending this money out and doing something useful with it, they crank up their own executive bonuses to make sure they get paid while the rest of the economy crumbles. And why? It’s simple: Because people are crooks, and if they get handed $40 billion a month in free money, they’re just going to grin and say, “How can we get MORE?”

That’s the credo of the banks: MORE!

When you’re out of a job and looking for honest work just to put a roof over your head, the bank is repossessing your house and screaming “MORE!”

When you can’t make that car payment and you have to start riding the bus with the minimum wage masses, the banks scream “MORE!”

When you’re trying to put healthy food on the table for your own family, and you see food prices ratcheting higher and higher as the value of your hard-earned dollar erodes, the banks scream “MORE!”

This mantra is all they know. The top global banks do not operate on compassion, benefit to society, fairness or even anything resembling lawful activity. They simply hornswaggle their way into the receiving end of ALL the money: Mortgage money, bailout money, government money and of course Fed money. That’s the game, you see: Screw the whole world and everybody in it. There’s MORE to be had!

Fed pumping is essentially a Ponzi scheme

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Readers Overwhelmingly Reject Rand Paul’s Romney Endorsement

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Infowars | June 13 2012

Not surprisingly, a preponderant majority of Infowars.com readers do not favor Kentucky Senator Rand Paul’s decision to support the seasoned globalist Mitt Romney’s presidential bid or Paul’s decision to work inside the Republican Party.

Poll was posted on June 12, 2012. We expect a larger response in the days ahead.

Following the announcement last week and a tsunami of negative feedback in response, the younger Paul has attempted to defend the fateful decision.

“Senator Paul asked his supporters and supporters of his father to be reasonable rather than reactionary as the liberty movement goes forward. He also challenged liberty lovers to participate in the political process rather than stay on the sidelines,” writes Kevin Kervick.

The Libertarian Party wasted little time excoriating Paul: “No true libertarian, no true friend of liberty, and no true blue Tea Partier could possibly even consider, much less actually endorse or approve of, the Father of Obamacare, Big Government tax and spender, Republican Mitt Romney,” a statement exclaimed.

Libertarians and other supporters who assumed Rand would reflect the philosophy of his father were outraged by the obvious betrayal and complained that “many of his fund-raising appeals were sent to the donors and supporters of his father…. designed to convince Ron’s supporters that the apple doesn’t fall far from the tree. That Rand was, like his legendary father, a steadfast champion of liberty.”

Paul told Peter Schiff in a radio interview that his endorsement was strictly political. “In order for him to get support during his Senate bid in 2010, Paul had to convince his potential backers that he was a Republican and would back the GOP presidential nominee, which his father did not do in 2008. Paul also notes, though not in these words, that it’s a little absurd to cast him aside as a traitor when he is part of the liberty movement and push our issues in the Senate,” writes Jason Pye for United Liberty.

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