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Peter is the biggest losing of all time with his predictions.he was telling people to get rid of their bitcoin and buy gold when bitcoin was $400.It's $90000 now and gold has made nothing for his followers.Poor old Peter the broken record.
Peter does not understand economics. Two real economists had a little debate with him and you could tell he didn't understand how inflation works. He never took economics in school. He just wings it and says what sounds good. He only made money by getting commissions. He kept predicting for years that inflation would drive up the price of gold and it didn't. In fact the price of gold only went up after inflation ended. I think he predicted the housing crash in 2008. So did I and so did a lot of people and it was a no brainer. I took one year of a single course of economics , 101 and I know more that Peter Schiff.
@@jeffbguarino All your economics has brought us to the brink. Bragging about being the managerial class that's about to be culled, choice. Thank you for easy identification, you pink collar dandy.
@@Discovery2024-rn8kn Only because they keep kicking the can down the road. Is like the Doctor who tells you every year that you are overweight and heading for a heart attack. You ignore it but one day it's too late to act. Its obvious that the debt is now totally out of control and will cause a disaster at some point.
It may not happen tomorrow, but overall that's my take. I'm one of those who left the US after retirement. Now I'm looking at safe ways to take my money with me.
Peter calls balls and strikes. And, he voted for Trump. After listening to this, one thing was clear and consistent with what I have been saying: inflation was caused by Covid, Trump, and the Fed. Biden was just the cherry at the end. So, the American people were duped again as to how inflation came about and who created it.
No he said Trump did spend but Biden broke the record so no Biden wasn't just the cherry he was the whip cream and the banana trump was the ice cream but the continuation and double of Biden spending made it worse when he could of help subside some and start on the road to fixing things instead Biden doubled down on it so go ahead hear what you want completely take out the fact that Biden broke the record.
I give Peter credit for telling the truth. Neither the Democrats nor the Republicans are willing to quit spending, they just spend in different ways. Peter is a Trump supporter but he knows that Trump isn't going to fix the economy - he's just going to make it worse, as Harris would have done.
Peter is correct to point out the problem but the answer is what he is missing. BTC will save it it & the rest of the world while it’s at it over the next 5-10 yrs. Government needs to be taken out of the money business & simultaneously force fiscal discipline as well by offering a better off ramp from the legacy system into a new & better system of storing the fruits of your labor. If you have not done your homework, just like Peter, who continues to try to answer a new world problem w an ancient solve that is not finite (gold not finite supply), then you will lose your way. Gold is too slow, too expensive, & presents too many problems in a new technologically savy world. Peter & the gold bugs over estimate BY A SHIT TON the value of physical gold & doesn’t recognize the functional physical & efficiecy problems that gold has. BTC solved all that. As a storage of value, The wild volatility of BTC is going to dampen as the nation both adopts it on the fed balance sheet & then continues to buy it. & the world will have to follow suite, the supply crunch that it will create will send the purchase power of a single BTC (or even fractals because it’s infinitely divisible) soaring & the people of the world will need to hold some as well. The people of the world (not just the US) will have an off ramp from their legacy fiat system which is a road to no where & will fail. BTC will command the purchase power on the balance sheet to reduce the US fed balance sheet by at least 50% by 2045 if not entirely, because the purchase power will continue to swell. You will also force budgets for the sovereign nations all over the world because they won’t be able to print endlessly in their fiat currencies in the face of this new off ramp of BTC. This will make the world a safer place because NO ONE can afford a war in real time without printing money. So wars will be a truly last resort & will be scaled down tremendously if not die. BTC cannot scale with actual speed to run the world. It’s not designed for that. You will use BTC like a 401 or long term savings hold that you only use for large purchases. There will be other options for everyday spending that will be combinations of stable coins & a few key crypto projects (99% of the current shitty projects are shams & will die but a list of maybe 30 will change the world forever & for the better… So yes the cuts will be huge to spending & the inflation will slow to a sustainable level eventually. & as the world is forced to buy the BTC to get a slice it will drive the purchase power of BTC & therefore back to the US balance sheet, which ironically, is where it came from originally… the end… So do your homework, & after you do send a cheat sheet glance over to Peter… he sees the problem but not the solution. He is not an innovator or created of energy capital… he is a purveyor of the problem that the legacy world. Has created… the answer is right there in front of him but he has been in full denial for several years. Too bad.
I agree in principle, but in reality, when you have a drug addict, cold turkey can kill them. we are addicted to deficit spending and debt. Peters recipe at this stage in the patient's journey would kill the patient. Growth will come at the expense of a higher baseline inflation, as we try to protect/grow domestic industries, incentivize work, but it will be inflation in part driven by production as much as consumption (which is all we do these days). This is a 10 year affair. And what if trump can get shelton appointed post Jpow to the fed.....
@ aMo12345 Bitcoin and other cryptocurrencies have their uses financially speaking. Gold and other precious metals have uses well beyond finances and money. They are used in medicine and technology and manufacturing. Unlike fiat currencies like the U.S. dollar and cryptocurrencies, I have yet to see value of gold and other precious metals go to zero. Since precious metals are relatively rare and nonperishable and fungible and can be used in various industries, properties you don't find in cryptocurrency like bitcoins, they are less likely to be seen as a speculative financial instrument like cryptocurrency is.
I'll argue with the claim that governments are always inefficient. After Trrump 1.0 my wife and I moved to Spain. The government run healthcare system here is not only efficient, it gets results that are far superior to US results at about 12% of the cost. Just saying. Healthcare is one of the reasons we left the US when I retired. Seven years on we have absolutely no regrets.
I never was a Peter Schiff fan but he makes a lot of very good points he is neither a pro democrat or pro trump he is convinced that neither party has the guts to do what is necessary to really solve the problem. He once ran for the Senate and lost on this platform it’s too bad so many politicians are only interested in getting re elected and not interested in solving the problem
Schiff is too simplistic and myopic on the cause of inflation. Inflation isn't just a function of the size of the money supply. This is how Friedman described the relationship to money supply and inflation. "You get inflation when growth in money supply is greater than the real growth in GDP.." Inflation.= dM% - drealGDP% This is largely why Trump didn't have inflation during covid,.. because the money supply was increased about the same amount the real GDP shrunk (or more accurately was shut down,.. needlessly come to find out). Inflation became exacerbated when theBribem admin continued to unnecessarily deficit spend 7 to 10% of GDP after the pandemic was over. Now the deficits are entrenched,. through farleftpolicy, wastefraud andabuse. But it's more than that. The minute the Bribem admin started its waronFossilFuels,.. inflation started to rise. FossilFuels are the lifeblood of the economy. The prices of everything else are founded on the prices of energy and other resources.. So more generally,.. Inflation is a function of supply and demand. The supply and demand of commodities, energy, labor, capital,.. and the supply and demand of money,.. where money has 2 sources,... 1. bank created money through lending,.. where Inflation.= dM% - drealGDP% In this case when the loans are paid back, the money supply gets reduced,.. so in bank created money,.. the money supply ebbs and flows with economci activity. and 2. government created money through deficit spending,. where Inflation.= dDeficitSpending% - drealGDP% In this case,.. the spending does not run through the commercial banks. It gets sent directly to consumers. and there is no obligation for the recipients of the deficit spending to pay it back. There is eventually a treasury created,.. but the government never pays off its debt. When a treasury matures,.. the government just issues another treasury,.. and so the money supply from government deficit spending never gets reduced. and is extremely inflationary of the deficit spending isn't matched by real growth in GDP. Even Hanke says,.. the debt fo GDP problem could be resolved if deficit spending was limited to a maximum of the projected real growth in GDP. It would be impossible to stop the deficit spending cold turkey,.. but the first goal would be to at least cut deficit spending to less than the real growth on GDP. This is where Musk fits in in Trump's plans. Which include,.. 1. Expanding fossil fuel production to reduce energy costs 2, Canceling the policies of the Bribem admin that waste tax payer dollars on non productive activities. The "inflation reduction act",... 3. Bringing Musk in to cut waste, fraudand unjustifiable increases in spending,... and bring accountability into all departments,.. but especially the DOD. 4. End the wars, 5. close the border,.. 6. get rid of this unproductiveDEIWokenonsense,.. 7. pass pro-private sector growth policies (or remove those that restrict it),.. so that the private sector capital investment portion of GDP replaces the current government spending portion of it. The government produces nothing. It certainly isn't in the business of inventing technology to make workers more productive. and on and on,.. These all reduce government spending,.. And puts us on the path to have government deficit spending as a percent of real GDP between zero and the real growth in GDP. 0 < dDeficitSpending% < drealGDP%
@@jcgoogle1808 First, we been in a depression since 2008, I'm defining a depression here as long term trend of below average growth in GDP. Second, so you saying that the overreaction to covid under the Trump presidency that created helicopter money, aka high velocity money, and given to people to consume goods and services they were not producing, did "not" cause the general price increases of goods and services? The price of oil went up because of the self sabotage of supply lines from covid, and then the huge demand after reopening. The strong dollar actually helped against high commodity prices for Americans. Lastly, you are NOT going to "resolve" a 122% debt to GDP problem by simply "limiting deficit spending". We can't "grow our way out" of this, the debt is too high, the damage caused by years of malinvestments is too large, we have to STOP deficit spending all together. The real "solution" is that we have to let things fail, so that the market can cleanse itself, and that's the truth, sorry.
I'm ecstatic with Trump's victory and the year-end market surge. Which hidden jewels in the upcoming bull run would you buy with 150 grand right now? My goal is to position myself for a prosperous Q1 in 2025.
A good number of people discredit the effectiveness of financial advisors in exploring new markets, but over the past 10years I’ve had a financial advisor consistently restructure and diversify my portfolio/expenses and I’ve made over $3million in gains… might not be a lot but i'm financially secure.
*''TRUDY ELIZABETH STOUFFER’'* a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market
Following Peter’s advice has cost people lots of money since 2008. Peter speaks about “What should be” instead of what will actually happen. According to Peter, Bitcoin should be zero yet here we are over $90K+
@@bumpyearth4204 yeap and when the top whales sell off a small percent of there coin taking the price down again all those people who bought in at 40k to 90k will be holding the bag again and when the price dips the same whale will but it all back up at a discount price waiting for people to slowly fill there bag again for them to pull the rug again. buying I hold crypto but I know what it is. and it all owned by the same top 5% of people who own everything else. but if I plan right I can still get a lil of the pie slowy every time.
Peter's such a genius on economic theory. I like that he brings education in addition to his perspective. I love his point that inflation isn't just rising prices, but it also has the effect of stopping prices from falling. Barring exceptional circumstances, he really must end up correct. It's cause and effect, and it doesn't matter how much we paper over the problems, the fundamentals are going to necessarily catch up. It's a complicated picture, and it's hard to say whether it's advisable to participate in the inflationary melt-up or to bet against the stock market.
Schiff is too simplistic and myopic on the cause of inflation. Inflation isn't just a function of the size of the money supply. This is how Friedman described the relationship to money supply and inflation. "You get inflation when growth in money supply is greater than the real growth in GDP.." Inflation.= dM% - drealGDP% This is largely why Trump didn't have inflation during covid,.. because the money supply was increased about the same amount the real GDP shrunk (or more accurately was shut down,.. needlessly come to find out). Inflation became exacerbated when theBribem admin continued to unnecessarily deficit spend 7 to 10% of GDP after the pandemic was over. Now the deficits are entrenched,. through farleftpolicy, wastefraud andabuse. But it's more than that. The minute the Bribem admin started its waronFossilFuels,.. inflation started to rise. FossilFuels are the lifeblood of the economy. The prices of everything else are founded on the prices of energy and other resources.. So more generally,.. Inflation is a function of supply and demand. The supply and demand of commodities, energy, labor, capital,.. and the supply and demand of money,.. where money has 2 sources,... 1. bank created money through lending,.. where Inflation.= dM% - drealGDP% In this case when the loans are paid back, the money supply gets reduced,.. so in bank created money,.. the money supply ebbs and flows with economci activity. and 2. government created money through deficit spending,. where Inflation.= dDeficitSpending% - drealGDP% In this case,.. the spending does not run through the commercial banks. It gets sent directly to consumers. and there is no obligation for the recipients of the deficit spending to pay it back. There is eventually a treasury created,.. but the government never pays off its debt. When a treasury matures,.. the government just issues another treasury,.. and so the money supply from government deficit spending never gets reduced. and is extremely inflationary of the deficit spending isn't matched by real growth in GDP. Even Hanke says,.. the debt fo GDP problem could be resolved if deficit spending was limited to a maximum of the projected real growth in GDP. It would be impossible to stop the deficit spending cold turkey,.. but the first goal would be to at least cut deficit spending to less than the real growth on GDP. This is where Musk fits in in Trump's plans. Which include,.. 1. Expanding fossil fuel production to reduce energy costs 2, Canceling the policies of the Bribem admin that waste tax payer dollars on non productive activities. The "inflation reduction act",... 3. Bringing Musk in to cut waste, fraudand unjustifiable increases in spending,... and bring accountability into all departments,.. but especially the DOD. 4. End the wars, 5. close the border,.. 6. get rid of this unproductiveDEIWokenonsense,.. 7. pass pro-private sector growth policies (or remove those that restrict it),.. so that the private sector capital investment portion of GDP replaces the current government spending portion of it. The government produces nothing. It certainly isn't in the business of inventing technology to make workers more productive. and on and on,.. These all reduce government spending,.. And puts us on the path to have government deficit spending as a percent of real GDP between zero and the real growth in GDP. 0 < dDeficitSpending% < drealGDP%
Peter has been consistently wrong since 2010. I mean a 14 year track record in being wrong is quite something. If you have listened to him and just brought gold you have *lost* money when adjusting for inflation.
@@jcgoogle1808 But fundamentally, inflation is just a function of the rate of growth of the money supply with real GDP just offsetting that growth. I think Peter is fully aware that real growth can mask inflation, but what he's arguing is that we're not actually growing at all in real terms. We're just being thrown out wholly fabricated, decorated figures from the government all while the economy is plagued with weakening fundamentals. That gold is telling that story, especially globally. Consumers are feeling the true economy underneath the noise. We can indeed grow our way out of a rising *rate* of inflation, but it still doesn't solve the overall problem that deficit spending will continue to outpace any future growth we make in it without austerity measures. We need both things, to your point. I think there is the exceptional case where we experience a quantum leap in the economy borne through AI, and that's been what I've been pushing others to bet on. I think these are novel times that may defy economic gravity, but Peter's case is mostly just that this time isn't different and that this is just another house of cards coupled with the same bubble hysteria we always see. How can anyone deny that possibility? He may damn well be right, but I'd just rather bet long for the future than bet short for a regression. I think he's wrong on crypto despite being right about gold. I think it's we're going to begin to see gold and top crypto movements start to couple initially until they can erode the phony paper market to move toward an ETN market that reflects the true value of PMs and other commodities. As for the markets... the way I see it: if we have a huge melt-up, we're insulated from the short-term impacts of inflation and everyone in the market is screwed together. Mutually assured destruction. If we have a melt-down, it will be short-lived because we are not going to be stopping the progress of AI/tech for anything. Everyone knows it's our future. The worst outcome I see is a global sovereign debt crisis where we're all bled out for an extended period of times so these old money barons can come in and scoop up everything tech for dirt cheap. I don't think the crypto nor the stock markets are strong enough to endure that possibility.
@@jceezee1084 Yeah when you're basing it off of the ridiculous PM spot market. I think you should wake up and realize that that's going to vanish into thin air if people ever wanted their commodities. Upwards of 90-95% are phony paper trades. And we're seeing governments want their commodities. And if we're shifting into a crypto future with a metals market, you may see people wanting their commodities even more to offset the increased volatility of a ridiculously large pool of competing cryptocurrencies rife with security vulnerabilities and the like. Also the stock market is NOT the only indicator of real growth; it hides inflation within it. So you can't just go and simply determine what inflation rate is and compare it dollar-for-dollar to the spot price of gold. "Losing money" is relative once you start to see these markets cave in on themselves. This is what happens when we deviate from market fundamentals and the entire economy enters into a mass speculative hysteria.
Been a fan of Peter for nearly 20 years. He was right about sub prime and has been right about gold. He's been dead wrong about the dollar and the US economy. I still very much enjoy his perspective.
@@pojack9979he's not wrong about Bitcoin. He says it is worthless and it is worthless. That doesn't mean people won't temporarily choose to assign a value to it anyway. Peter's company accepts payment in Bitcoin so he has some himself (and is probably selling it at these current highs) - but he knows that whatever the numbers say at the moment, at the end of the day, it's still worthless.
The problem with the BTC proponents is that they are so sure BTC is going to be money or reserve currency which will take over the USD. This is why they are making mindless predictions of its price and HODLing. The Government wont allow crypto to be legal tender because it would be unconstitutional and would take away their reckless spending power @lepton31415
Always good to hear Peter's grounded informed assessment. For some reason I enjoy his pessimistic view of the state of the US economy and Michael Sailors wishful thinking 😮
David gets a gold star for his patience with Peter! That man can talk! Just watching Mr.Lin do his taxes while Schiff hits the fan is pretty amusing...
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Can't share much here, I take guidance from ‘Sophia E Haney’ a renowned figure in her industry with over two decades of work experience. I'd suggest you research her further on the web.
I think Peter Zeihan makes a decent point about modern manufacturing. So I'll steal his point. It can and has come back, industry in the USA doubled this past 2 years. Given its only 400~billion each year that's very modest but still present. Also manufacturing will probably not look like a bunch of dudes on an assembly line rather 2 computer scientists and 1 engineer/technician in the middle of nowhere with a bunch of 3d printers or machinery.
Schiff is too simplistic and myopic on the cause of inflation. Inflation isn't just a function of the size of the money supply. This is how Friedman described the relationship to money supply and inflation. "You get inflation when growth in money supply is greater than the real growth in GDP.." Inflation.= dM% - drealGDP% This is largely why Trump didn't have inflation during covid,.. because the money supply was increased about the same amount the real GDP shrunk (or more accurately was shut down,.. needlessly come to find out). Inflation became exacerbated when theBribem admin continued to unnecessarily deficit spend 7 to 10% of GDP after the pandemic was over. Now the deficits are entrenched,. through farleftpolicy, wastefraud andabuse. But it's more than that. The minute the Bribem admin started its waronFossilFuels,.. inflation started to rise. FossilFuels are the lifeblood of the economy. The prices of everything else are founded on the prices of energy and other resources.. So more generally,.. Inflation is a function of supply and demand. The supply and demand of commodities, energy, labor, capital,.. and the supply and demand of money,.. where money has 2 sources,... 1. bank created money through lending,.. where Inflation.= dM% - drealGDP% In this case when the loans are paid back, the money supply gets reduced,.. so in bank created money,.. the money supply ebbs and flows with economci activity. and 2. government created money through deficit spending,. where Inflation.= dDeficitSpending% - drealGDP% In this case,.. the spending does not run through the commercial banks. It gets sent directly to consumers. and there is no obligation for the recipients of the deficit spending to pay it back. There is eventually a treasury created,.. but the government never pays off its debt. When a treasury matures,.. the government just issues another treasury,.. and so the money supply from government deficit spending never gets reduced. and is extremely inflationary of the deficit spending isn't matched by real growth in GDP. Even Hanke says,.. the debt fo GDP problem could be resolved if deficit spending was limited to a maximum of the projected real growth in GDP. It would be impossible to stop the deficit spending cold turkey,.. but the first goal would be to at least cut deficit spending to less than the real growth on GDP. This is where Musk fits in in Trump's plans. Which include,.. 1. Expanding fossil fuel production to reduce energy costs 2, Canceling the policies of the Bribem admin that waste tax payer dollars on non productive activities. The "inflation reduction act",... 3. Bringing Musk in to cut waste, fraudand unjustifiable increases in spending,... and bring accountability into all departments,.. but especially the DOD. 4. End the wars, 5. close the border,.. 6. get rid of this unproductiveDEIWokenonsense,.. 7. pass pro-private sector growth policies (or remove those that restrict it),.. so that the private sector capital investment portion of GDP replaces the current government spending portion of it. The government produces nothing. It certainly isn't in the business of inventing technology to make workers more productive. and on and on,.. These all reduce government spending,.. And puts us on the path to have government deficit spending as a percent of real GDP between zero and the real growth in GDP. 0 < dDeficitSpending% < drealGDP%
The truth will one day will surface up then the world will be in great awakening. Sad for many will burnt, only the wise will survive and maybe hyperbolic gain.
I cannot comprehend how people trust Bitcoin as a solid investment; if people just acknowledged it was the currency for crime, that would be fine. I would want an easy way to invest in stuff like the cartel, fentanyl trade, banking fraud etc too so I would invest in it if it were like that but right now its just rabid speculation.
Really, banks require more regulation. The entire idea of banking as "let's gamble" is terrifying. Because they discovered in 2008 that the government will always bail them out, there are no repercussions. These bank crisis are so worrisome. This whole financial crisis and the Great Recession posed the most significant macroeconomic challenges for the United States in a half-century, leaving behind high unemployment and below-target inflation and calling for highly accommodative monetary policies. And this is only the beginningRead more
Since 2020, the banks have been over-leveraging their assets, which was one of the reasons for SVB's implosion. I have never been okay with keeping much money in the bank. I simply focus on diversified investments through a financial advisor, collect my profits, which I either spend or repeat the process. Never been this comfortable with my finances.
I have learnt not to trust corporations, especially these banks. I was badly hit by the '08 financial crisis. Since 2019, I've just been focused on investing through a financial advisor and it has been paying off. No major loss has ever been recorded since 2019 i started. I'm closer to having a million now than i ever was with the banks. I'm never going back to banks full time.
@@DonaldStokes-p I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
'Sharon Ann Meny' is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment
17:47 In Portugal, we have been tightening our belts since 1980. So who has to tighten their belts now? After 40 years its obvious that the ones who needed to tighten their belts the most were the ones who didn't.
The 2.5% COLA for 2025 provides a modest increase in benefits for Americans receiving Social Security and SSI payments, helping to offset the rising cost of living and inflation. This increase offers essential financial relief for vulnerable populations like retirees.
The thought of retirement makes me cry. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you never imagined to happen. It’s so difficult for people who are retired and have no savings to fall back on.
True, It has never been easier to understand how to build your money after retirement than it is right now with the inflation, when you may study and experience a completely variegated market passively by employing a successful portfolio-advisor. The impacts of the U.S. dollar's gain or fall on investments, in my opinion, are complex.
I completely agree; I am in my mid 40s, approaching retirement, and have approximately over 2million dollars in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, the Fin-advisor can only be neglected, not rejected. Just do your due diligence to identify a fiduciary one.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Stacy Lynn Staples’’ for about three years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
He must love you and yourGF. The DoEd has turned into a DEITrans groomer mill. I mean just look in the mirror,.. little lady. It makes no contribution to real education/ If you and yourGFabove had an education,.. you might understand this Schiff is too simplistic and myopic on the cause of inflation. Inflation isn't just a function of the size of the money supply. This is how Friedman described the relationship to money supply and inflation. "You get inflation when growth in money supply is greater than the real growth in GDP.." Inflation.= dM% - drealGDP% This is largely why Trump didn't have inflation during covid,.. because the money supply was increased about the same amount the real GDP shrunk (or more accurately was shut down,.. needlessly come to find out). Inflation became exacerbated when theBribem admin continued to unnecessarily deficit spend 7 to 10% of GDP after the pandemic was over. Now the deficits are entrenched,. through farleftpolicy, wastefraud andabuse. But it's more than that. The minute the Bribem admin started its waronFossilFuels,.. inflation started to rise. FossilFuels are the lifeblood of the economy. The prices of everything else are founded on the prices of energy and other resources.. So more generally,.. Inflation is a function of supply and demand. The supply and demand of commodities, energy, labor, capital,.. and the supply and demand of money,.. where money has 2 sources,... 1. bank created money through lending,.. where Inflation.= dM% - drealGDP% In this case when the loans are paid back, the money supply gets reduced,.. so in bank created money,.. the money supply ebbs and flows with economci activity. and 2. government created money through deficit spending,. where Inflation.= dDeficitSpending% - drealGDP% In this case,.. the spending does not run through the commercial banks. It gets sent directly to consumers. and there is no obligation for the recipients of the deficit spending to pay it back. There is eventually a treasury created,.. but the government never pays off its debt. When a treasury matures,.. the government just issues another treasury,.. and so the money supply from government deficit spending never gets reduced. and is extremely inflationary of the deficit spending isn't matched by real growth in GDP. Even Hanke says,.. the debt fo GDP problem could be resolved if deficit spending was limited to a maximum of the projected real growth in GDP. It would be impossible to stop the deficit spending cold turkey,.. but the first goal would be to at least cut deficit spending to less than the real growth on GDP. This is where Musk fits in in Trump's plans. Which include,.. 1. Expanding fossil fuel production to reduce energy costs 2, Canceling the policies of the Bribem admin that waste tax payer dollars on non productive activities. The "inflation reduction act",... 3. Bringing Musk in to cut waste, fraudand unjustifiable increases in spending,... and bring accountability into all departments,.. but especially the DOD. 4. End the wars, 5. close the border,.. 6. get rid of this unproductiveDEIWokenonsense,.. 7. pass pro-private sector growth policies (or remove those that restrict it),.. so that the private sector capital investment portion of GDP replaces the current government spending portion of it. The government produces nothing. It certainly isn't in the business of inventing technology to make workers more productive. and on and on,.. These all reduce government spending,.. And puts us on the path to have government deficit spending as a percent of real GDP between zero and the real growth in GDP. 0 < dDeficitSpending% < drealGDP%
Even if Ron Paul was president, he couldn't save us at this point. Fun times ahead. Let's hope Trump doesn't take all the blame for 40 years of debt and money printing.
Schiff is extremely intelligent. If you are wondering where inflation the past few years came from listen to the first half of this video. If you want to skip to the summary just go to 10:00 in. His points on government deficits along with QE is terrible for the working man.
So many financial social media channels give advice mostly to those with a lot of money invested, or to invest, and mostly talk to what benefits the wealthy. They ignore how the actions of Trump will impact working people; and how it will push more people from the Middle Class into being low income. I mean; what I have learned about project 2024; not to mention other similar projects, will devastate our economy. His deportation program alone will make new housing, food, many services, restaurants, and other products and services far more expensive. This will make it much harder for working people to invest for retirement.
Bot spotted, but its mostly because no one actually knows where it goes. The US governement legit does not even know how many bases they have. Just to repeat THE US DOES NOT KNOW HOW MANY US MILIRARY BASES THEY OWN
David Lin possesses "The Magnificent Mop!" The towering rooster tails he sports are wondrous and spectacular. I see nobody who is even in the same league as Lin. I actually get depressed when he gets a haircut or a trim.
Ask Peter what he thinks about bitcoin. People keep trying to make up crap to create value. You only create value by creating value. Gold is stupid and bitcoin is stupid. A company that makes something has value. Raw materials have value.
Ask how many Americans carry around a gold bar. People have been sold the idea that gold is valuable. That comes from thousands of years ago. The only reason that gold even is traded is because people are arrogant but not smart. So they want to believe that there is a solution to greed. But the only solution is to stop being greedy. You can’t just make up something because you want to believe there is a solution.
God man what is wrong with you David. Bitcoin is stupid. It’s just made up BS. I’m so amazed at how stupid supposedly smart people are. If anybody can create crypto with no limit why would you believe that it’s going to be valuable? And I know someone is going to say well the government keeps printing money but the difference is the government can enforce laws and individuals can’t.
It's always heartening when I see comments from those who aren't sucked into the stage show. The delusion I see from people who think he's going to be the savior of America just confirms how doomed we really are, they are literally mocking us that dark MAGA is coming for us.
I have been saying for years and years that the debt crisis (and it is a crisis) will never be solved because no one will vote for across the board austerity. The only political policies that can help alleviate that mindset would be strict term limits and a balanced budget amendment. By the way, Peter is spot on with his analysis.
People need to realize that things are very different in 2024 then they were in 2016. 16 PE compared to 25 now. .5% fed funds rate compared to 4.75 now, 10% of tax receipts for interest expense compared to 25% and climbing now. We are screwed no matter what! He will get it back but not until we go through a long recession. Baked in but it’s ok! It will lower prices !
David I love this guess I don't agree with everything Peter says especially on the dollar but Peter calls it like it is that's why I love Peter he's been doing that since early 2000
The policies Peter is speaking about of cutting spending, tightening belts, increasing savings etc., are standard macroeconomic policies that the U.S. has ignored for years. At this point, the U.S. economy is so far off the Golden Rule of economics that it would take quite a while for us to save and reduce consumption in order to bring economic balance back to the economy.
@@rubyred8332 vote for him twice, 1st time he expected trump to do what he said he's going to do, cut gov, instead he increased it, so he did the same thing and expected a different result this time, from someone who is pathological! Harris or trump it doesn't matter the market is due for a major correction!
You and Schiff are clearlyclueless. YourinsaneBribemKackles admin has been unnecessarily and unprecedentedly deficit spending 5 to 10% of GDP for year after the pandemic is over,... when we weren't even in a recession, generating 1 to 3% real GDP growth, giving us an entrenched steady state true structural inflation rate of about 5%. Inflation is a function of supply and demand. The supply and demand of commodities, energy, labor, capital,.. and the supply and demand of money,.. where money has 2 sources,... 1. bank created money through lending,.. where Inflation.= dM% - drealGDP% In this case when the loans are paid back, the money supply gets reduced,.. so in bank created money,.. the money supply ebbs and flows with economci activity. and 2. government created money through deficit spending,. where Inflation.= dDeficitSpending% - drealGDP% In this case,.. the spending does not run through the commercial banks. It gets sent directly to consumers. and there is no obligation for the recipients of the deficit spending to pay it back. There is eventually a treasury created,.. but the government never pays off its debt. When a treasury matures,.. the government just issues another treasury,.. and so the money supply from government deficit spending never gets reduced. and is extremely inflationary of the deficit spending isn't matched by real growth in GDP. Even Hanke says,.. the debt fo GDP problem could be resolved if deficit spending was limited to a maximum of the projected real growth in GDP. It would be impossible to stop the deficit spending cold turkey,.. but the first goal would be to at least cut deficit spending to less than the real growth on GDP. This is where Musk fits in in Trump's plans. Which include,.. 1. Expanding fossil fuel production to reduce energy costs 2, Canceling the policies of the Bribem admin that waste tax payer dollars on non productive activities. The "inflation reduction act",... 3. Bringing Musk in to cut waste, fraudand unjustifiable increases in spending,... and bring accountability into all departments,.. but especially the DOD. 4. End the wars, 5. close the border,.. 6. get rid of this unproductiveDEIWokenonsense,.. 7. pass pro-private sector growth policies (or remove those that restrict it),.. so that the private sector capital investment portion of GDP replaces the current government spending portion of it. The government produces nothing. It certainly isn't in the business of inventing technology to make workers more productive. and on and on,.. These all reduce government spending,.. And puts us on the path to have government deficit spending as a percent of real GDP between zero and the real growth in GDP. 0 < dDeficitSpending% < drealGDP% Get a clue.
@ yes. That was her plan. The tax cut for the rich doesn’t expire until 2025. We’ve still been dealing with all that lost revenue which adds to the debt which adds to inflation. Her plan was to clearly INCREASE taxes for the rich. Trickle down doesn’t work. Ever.
It's not the rich so much as the large corporations that end up paying very little or no tax. Taxing individuals no matter how rich wont get get us much of anything.
In essence, trickle-down economics doesn’t usually stimulate broad-based growth, and by increasing inequality, it can actually undermine long-term economic stability and growth.
Schiff making some very valid points, as usual. I'm grateful Trump prevailed over KaMALA, but it's foolish to think he's got any fiscal discpline whatsoever. And that's before taking into account that the Senate or House will never vote to cut spending.
@@stefanonbekend8177 I'm not too familiar with bitcoin, but as someone who has never invested in gold but is planning to let me give you my pitch lol. Gold is actually fairly reasonable as an economic resource, firstly, and most crucially, countries are starting to trade in it again. Specifically countries such as Russia, China, Russia. When they engage in international trade they will sometimes split the difference using gold instead of rubbles or rmb since they may not want foreign currency. This is pretty big because it is finally is seeing some real use for the first time in decades, with the trend likely continuing as the USA pushes more countries out into the fringe.
This is the most indepth breakdown of what's going to unfold that I have listened to thus far. Peter cuts through the BS and gives us the hard truth. The mainstream media failed to break down this reality to the electorate. We need more people like him.
Schiff is too simplistic and myopic on the cause of inflation. Inflation isn't just a function of the size of the money supply. This is how Friedman described the relationship to money supply and inflation. "You get inflation when growth in money supply is greater than the real growth in GDP.." Inflation.= dM% - drealGDP% This is largely why Trump didn't have inflation during covid,.. because the money supply was increased about the same amount the real GDP shrunk (or more accurately was shut down,.. needlessly come to find out). Inflation became exacerbated when theBribem admin continued to unnecessarily deficit spend 7 to 10% of GDP after the pandemic was over. Now the deficits are entrenched,. through farleftpolicy, wastefraud andabuse. But it's more than that. The minute the Bribem admin started its waronFossilFuels,.. inflation started to rise. FossilFuels are the lifeblood of the economy. The prices of everything else are founded on the prices of energy and other resources.. So more generally,.. Inflation is a function of supply and demand. The supply and demand of commodities, energy, labor, capital,.. and the supply and demand of money,.. where money has 2 sources,... 1. bank created money through lending,.. where Inflation.= dM% - drealGDP% In this case when the loans are paid back, the money supply gets reduced,.. so in bank created money,.. the money supply ebbs and flows with economci activity. and 2. government created money through deficit spending,. where Inflation.= dDeficitSpending% - drealGDP% In this case,.. the spending does not run through the commercial banks. It gets sent directly to consumers. and there is no obligation for the recipients of the deficit spending to pay it back. There is eventually a treasury created,.. but the government never pays off its debt. When a treasury matures,.. the government just issues another treasury,.. and so the money supply from government deficit spending never gets reduced. and is extremely inflationary of the deficit spending isn't matched by real growth in GDP. Even Hanke says,.. the debt fo GDP problem could be resolved if deficit spending was limited to a maximum of the projected real growth in GDP. It would be impossible to stop the deficit spending cold turkey,.. but the first goal would be to at least cut deficit spending to less than the real growth on GDP. This is where Musk fits in in Trump's plans. Which include,.. 1. Expanding fossil fuel production to reduce energy costs 2, Canceling the policies of the Bribem admin that waste tax payer dollars on non productive activities. The "inflation reduction act",... 3. Bringing Musk in to cut waste, fraudand unjustifiable increases in spending,... and bring accountability into all departments,.. but especially the DOD. 4. End the wars, 5. close the border,.. 6. get rid of this unproductiveDEIWokenonsense,.. 7. pass pro-private sector growth policies (or remove those that restrict it),.. so that the private sector capital investment portion of GDP replaces the current government spending portion of it. The government produces nothing. It certainly isn't in the business of inventing technology to make workers more productive. and on and on,.. These all reduce government spending,.. And puts us on the path to have government deficit spending as a percent of real GDP between zero and the real growth in GDP. 0 < dDeficitSpending% < drealGDP%
US tariffs are great for the rest of the world. The US tariffs means that the rest of the world consumers are no longer competing with US consumers who are paying with the world reserve currency.
You won't be saying that after other countries place tariffs on digital consulting and fnancial services for corporations traded on wall st s&p, registered in DE, etc.
What a week! A lot of news have been going on about a rally after the election, urging investors to watch out for stocks that would be experiencing significant growth. Any idea which stocks to put on my watchlist?
Elon Musk has played a major role in the campaign, especially in sectors like energy and automotive. With Trump winning, there's uncertainty, as the market has been full of surprises. It's wise to follow professional advice.
Having an investment advisor is the best approach to the market right now. I was going solo without much success until my wife introduced me to an advisor. I've achieved over 80% capital growth this year, excluding dividends.
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?.
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
@markgoldstein8692 Sorry but it's getting ridiculous how gold bugs just keep repeating that bitcoin is worthless. As if all the billionaires and everybody that own BTC don't realize that it's digital. You're living in denial. Believe whatever delusional definition of money you want but everybody else is moving on. We understand that money is just a current medium of exchange and that nobody can print bitcoin so there's no need to go to some sleazy banker to get something physical before they print more money and steal your purchasing power.
I'm 47yrs old. $22,000 weekly and I'm retired, this video have inspired me greatly in many ways that I remember my past of how I struggled with many things in life to be where I am today!!!!❤️
Maria Luisa Clare is to be thanked. I got my self my dream house 🏠 just last weekend, My journey with her started after my best friend came back from New York and saw me suffering in dept then told me about her and how to change my life through trading with her. Christina A. Tucker is the kind of person one needs in his or her life!
< I know that woman(Maria Luisa Clare) If you were born and raised in new York you'd know too, No doubt she is the one that helped you get where you are!!
I'm so happy I made the best decisions by having a good investment, Recently I was able to acquire my second house even as a single mom at 42 and I believe if things keep going well I would retire early..,…
Congratulations dear. You're doing well for yourself, I'm 48 and my financial life is in a mess. Any great tips would go a long way in shaping my life. I want to buy my own house, that's a big flex
I will be forever grateful to you, you changed my whole life and I will continue to preach on your behalf for the whole world to hear that you saved me from huge financial debt with just a small investment, thank you Jihan Wu you're such a lifesaver
As a learner in this, you need to have a mentor to keep you accountable. Jihan Wu is also my trade analyst, he has guided me to identify key market trends, pinpointed strategic entry points, and provided risk assessments, ensuring my investment decisions align with market dynamics for optimal returns.
I'm not kidding when I say that the market crash and high inflation have me really stressed out and worried about retirement. I've been in the red for a while now and although people say these crisis has it perks, I'm losing my mind but I get it Investing is a long-term game, so focus on the long run.
I can’t focus on the long run when I should be retiring in 3years, you see I’ve got good companies in my portfolio and a good amount invested, but my profit has been stalling, does it mean this recession/unstable market doesn’t provide any calculated risk opportunities to make profit?
There are a lot of strategies to make tongue wetting profit especially in a down market, but such sophisticated trades can only be carried out by proper market experts
I agree, my profit has been consistent no matter the market situation, I got into the market early 2019 and the constant downtrends and losses discouraged me so I sold off, got back in Dec 2020 this time with guidance from an investment adviser that was recommended by a popular economist on a subreddit, long story short, its been 2years now and I’ve gained over $850k following guidance from my investment adviser.
That's awesome! Investing in stocks with a reliable trading system can lead to great outcomes. It's fantastic that you've been working with a financial advisor for a year now. Starting with less than $200K and being just $19,000 away from making half a million in profit is impressive! Keep up the good work!
how can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your succedss??
I foresee a recession lasting 2-3 years, and if inflation continues to surge, the Federal Reserve will likely raise interest rates soon. Inflation is causing various issues worldwide, such as food shortages, scarcities of diesel and heating fuel, and significant spikes in housing prices, leading to a potential financial market crash. This global downturn could have long-lasting repercussions. Given the current inflation rate of approximately 9%, my main worry is how to optimize my savings and retirement fund, which has remained stagnant at around $300,000, yielding almost no gains for quite some time.
Numerous opportunities exist to achieve substantial profits at present, but executing high-volume and nearly flawless trades requires the expertise of real-time professionals with an ISDA Agreement. This agreement allows investors to participate in sophisticated trades, exclusive to seasoned individuals, and unavailable to amateurs. Attempting to be a high-stakes trader without an ISDA is akin to trying to win the Indy 500 riding a llama.
Inflation is over 10% here in the UK, but as we know it's definitely way more than the Government would like to admit. My plan is to earn more passive income and ride this out, can your Investment-adviser assist?
My Financial adviser is ‘’Melissa Terri Swayne’’ she’s highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market
thank you for this tip, I must say, She appears to be quite knowledgeable. After coming across her online page, I thoroughly went through her resume, and I must say, it was quite impressive. I reached out to her, and I have booked a session with her.
Hey David, i would love to see Prof. Peter St. Onge on your channel to explain how Trump's policies could work out with success... or even if he could debate Peter Schiff, that would be awesome! Thanks!
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What's going to happen to the economy during a Trump Presidency?
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I prefer the Guys who live in discarded Containers for economic advice.
They seem a bit more honest.
Well done for getting Peter Shiff . The BEST GUEST on your program so far LIKE - LIKE 👍👍👍👍👍
China has weapons against tariffs that Trump does not seem aware of.
Does Peter know David owns some BTC?
David, I feel as if you just had enough of Peter . U hardly got a word in!
This was a heroic appearance by Peter Schiff. His views are truly fair and balanced. Bravo!
Peter is about the only person who can describe everything that's wrong with the economy in one 5-minute ... sentence!😂👍👍👍
😂😂 I love him though.
True
Peter is the biggest losing of all time with his predictions.he was telling people to get rid of their bitcoin and buy gold when bitcoin was $400.It's $90000 now and gold has made nothing for his followers.Poor old Peter the broken record.
It's amazing how often I read that exact same sentence on different finance and economy videos.
the reason Peter didn't, and never will, get into gov't office is because he speaks the truth
No he has been wrong constantly
Well, he is honest, anyway.
Maybe not about Bitcoin 😅
Peter does not understand economics. Two real economists had a little debate with him and you could tell he didn't understand how inflation works. He never took economics in school. He just wings it and says what sounds good. He only made money by getting commissions. He kept predicting for years that inflation would drive up the price of gold and it didn't. In fact the price of gold only went up after inflation ended. I think he predicted the housing crash in 2008. So did I and so did a lot of people and it was a no brainer. I took one year of a single course of economics , 101 and I know more that Peter Schiff.
@@jeffbguarino All your economics has brought us to the brink. Bragging about being the managerial class that's about to be culled, choice. Thank you for easy identification, you pink collar dandy.
How does the government “pay off the debt” in a debt-based monetary system controlled by private banks?
They don’t.
Or through devaluation of the currency of which the debt is denominated in.
Print cash via the Fed, run balanced budgets and keep inflation low via productivity growth
The US will soon be worst than Italy in terms of Debt to GDP... pure insanity
Revalue gold to about $150,000/oz
In other words, we are f****d.
And not just a normal fuck! This one is going to be in the anal opening!
Yes.
He's been saying this since the early 2000s. His argument may be sound and rational but markets did not behave as Peter predicted
@@Discovery2024-rn8kn Only because they keep kicking the can down the road. Is like the Doctor who tells you every year that you are overweight and heading for a heart attack. You ignore it but one day it's too late to act. Its obvious that the debt is now totally out of control and will cause a disaster at some point.
It may not happen tomorrow, but overall that's my take. I'm one of those who left the US after retirement. Now I'm looking at safe ways to take my money with me.
Excellent interview. Kudos for him to fairly criticizing Trump. This means Peter is being rational and not political.
He listed all the reasons Trump will kill the economy, but voted for him anyway.
@@PeterAllen09 The irony of it all lol
I’m a Democrat, but at this point I just want to hand over the government to a group of 50,000 economists and CPAs before everything collapses
They're why it's going to collapse.
Peter calls balls and strikes. And, he voted for Trump. After listening to this, one thing was clear and consistent with what I have been saying: inflation was caused by Covid, Trump, and the Fed. Biden was just the cherry at the end. So, the American people were duped again as to how inflation came about and who created it.
No he said Trump did spend but Biden broke the record so no Biden wasn't just the cherry he was the whip cream and the banana trump was the ice cream but the continuation and double of Biden spending made it worse when he could of help subside some and start on the road to fixing things instead Biden doubled down on it so go ahead hear what you want completely take out the fact that Biden broke the record.
Forget about college, studying Economics is better here! Can't beat Peter Schiff's lessons!! All learnt. 💯
I give Peter credit for telling the truth. Neither the Democrats nor the Republicans are willing to quit spending, they just spend in different ways. Peter is a Trump supporter but he knows that Trump isn't going to fix the economy - he's just going to make it worse, as Harris would have done.
Peter is correct to point out the problem but the answer is what he is missing. BTC will save it it & the rest of the world while it’s at it over the next 5-10 yrs. Government needs to be taken out of the money business & simultaneously force fiscal discipline as well by offering a better off ramp from the legacy system into a new & better system of storing the fruits of your labor. If you have not done your homework, just like Peter, who continues to try to answer a new world problem w an ancient solve that is not finite (gold not finite supply), then you will lose your way. Gold is too slow, too expensive, & presents too many problems in a new technologically savy world. Peter & the gold bugs over estimate BY A SHIT TON the value of physical gold & doesn’t recognize the functional physical & efficiecy problems that gold has. BTC solved all that.
As a storage of value, The wild volatility of BTC is going to dampen as the nation both adopts it on the fed balance sheet & then continues to buy it. & the world will have to follow suite, the supply crunch that it will create will send the purchase power of a single BTC (or even fractals because it’s infinitely divisible) soaring & the people of the world will need to hold some as well. The people of the world (not just the US) will have an off ramp from their legacy fiat system which is a road to no where & will fail.
BTC will command the purchase power on the balance sheet to reduce the US fed balance sheet by at least 50% by 2045 if not entirely, because the purchase power will continue to swell. You will also force budgets for the sovereign nations all over the world because they won’t be able to print endlessly in their fiat currencies in the face of this new off ramp of BTC. This will make the world a safer place because NO ONE can afford a war in real time without printing money. So wars will be a truly last resort & will be scaled down tremendously if not die.
BTC cannot scale with actual speed to run the world. It’s not designed for that. You will use BTC like a 401 or long term savings hold that you only use for large purchases.
There will be other options for everyday spending that will be combinations of stable coins & a few key crypto projects (99% of the current shitty projects are shams & will die but a list of maybe 30 will change the world forever & for the better…
So yes the cuts will be huge to spending & the inflation will slow to a sustainable level eventually. & as the world is forced to buy the BTC to get a slice it will drive the purchase power of BTC & therefore back to the US balance sheet, which ironically, is where it came from originally… the end…
So do your homework, & after you do send a cheat sheet glance over to Peter… he sees the problem but not the solution. He is not an innovator or created of energy capital… he is a purveyor of the problem that the legacy world. Has created… the answer is right there in front of him but he has been in full denial for several years. Too bad.
I agree in principle, but in reality, when you have a drug addict, cold turkey can kill them. we are addicted to deficit spending and debt. Peters recipe at this stage in the patient's journey would kill the patient. Growth will come at the expense of a higher baseline inflation, as we try to protect/grow domestic industries, incentivize work, but it will be inflation in part driven by production as much as consumption (which is all we do these days). This is a 10 year affair. And what if trump can get shelton appointed post Jpow to the fed.....
@@aMo12345btc will save it hahahahhaha
@ aMo12345 Bitcoin and other cryptocurrencies have their uses financially speaking. Gold and other precious metals have uses well beyond finances and money. They are used in medicine and technology and manufacturing. Unlike fiat currencies like the U.S. dollar and cryptocurrencies, I have yet to see value of gold and other precious metals go to zero. Since precious metals are relatively rare and nonperishable and fungible and can be used in various industries, properties you don't find in cryptocurrency like bitcoins, they are less likely to be seen as a speculative financial instrument like cryptocurrency is.
@@aMo12345shut up. Bitcoin is cia mossad honey trap
I'll argue with the claim that governments are always inefficient. After Trrump 1.0 my wife and I moved to Spain. The government run healthcare system here is not only efficient, it gets results that are far superior to US results at about 12% of the cost.
Just saying.
Healthcare is one of the reasons we left the US when I retired. Seven years on we have absolutely no regrets.
Same here. Moving to Spain in January 🎉
@@charlie3134 If you need a flat in Gandia we're getting some for rentals.
The scale of health care in Spain would not scale to the US. As with all things, the US government would further destroy it.
No healthcare in Gandia@@Eric-Marsh
@@adambielecki872 what are you talking about? Of course there is healthcare in Gandia.
I voted for Harris and knew the circumstances, but I believed Trump was gonna be worse for the debt 💸 and inflation 📈.
The lady (if we can call her that) blew thru 1B (ie.billion with a Capital B) in 3mths with 20M in debt. Trump raised
You were right
I never was a Peter Schiff fan but he makes a lot of very good points he is neither a pro democrat or pro trump he is convinced that neither party has the guts to do what is necessary to really solve the problem. He once ran for the Senate and lost on this platform it’s too bad so many politicians are only interested in getting re elected and not interested in solving the problem
Schiff is too simplistic and myopic on the cause of inflation.
Inflation isn't just a function of the size of the money supply.
This is how Friedman described the relationship to money supply and inflation.
"You get inflation when growth in money supply is greater than the real growth in GDP.."
Inflation.= dM% - drealGDP%
This is largely why Trump didn't have inflation during covid,.. because the money supply was increased about the same amount the real GDP shrunk (or more accurately was shut down,.. needlessly come to find out).
Inflation became exacerbated when theBribem admin continued to unnecessarily deficit spend 7 to 10% of GDP after the pandemic was over.
Now the deficits are entrenched,. through farleftpolicy, wastefraud andabuse.
But it's more than that.
The minute the Bribem admin started its waronFossilFuels,.. inflation started to rise.
FossilFuels are the lifeblood of the economy. The prices of everything else are founded on the prices of energy and other resources..
So more generally,..
Inflation is a function of supply and demand.
The supply and demand of
commodities,
energy,
labor,
capital,..
and the supply and demand of money,.. where money has 2 sources,...
1. bank created money through lending,.. where
Inflation.= dM% - drealGDP%
In this case when the loans are paid back, the money supply gets reduced,.. so in bank created money,..
the money supply ebbs and flows with economci activity.
and
2. government created money through deficit spending,. where
Inflation.= dDeficitSpending% - drealGDP%
In this case,.. the spending does not run through the commercial banks. It gets sent directly to consumers.
and there is no obligation for the recipients of the deficit spending to pay it back.
There is eventually a treasury created,.. but the government never pays off its debt.
When a treasury matures,.. the government just issues another treasury,.. and so the money supply from government deficit spending never gets reduced. and is extremely inflationary of the deficit spending isn't matched by real growth in GDP.
Even Hanke says,.. the debt fo GDP problem could be resolved if deficit spending was limited to a maximum of the projected real growth in GDP.
It would be impossible to stop the deficit spending cold turkey,.. but the first goal would be to at least cut deficit spending to less than the real growth on GDP.
This is where Musk fits in in Trump's plans.
Which include,..
1. Expanding fossil fuel production to reduce energy costs
2, Canceling the policies of the Bribem admin that waste tax payer dollars on non productive activities. The "inflation reduction act",...
3. Bringing Musk in to cut waste, fraudand unjustifiable increases in spending,... and bring accountability into all departments,.. but especially the DOD.
4. End the wars,
5. close the border,..
6. get rid of this unproductiveDEIWokenonsense,..
7. pass pro-private sector growth policies (or remove those that restrict it),.. so that the private sector capital investment portion of GDP replaces the current government spending portion of it.
The government produces nothing. It certainly isn't in the business of inventing technology to make workers more productive.
and on and on,..
These all reduce government spending,..
And puts us on the path to have government deficit spending as a percent of real GDP between zero and the real growth in GDP.
0 < dDeficitSpending% < drealGDP%
@@jcgoogle1808It's too late
@@jcgoogle1808 First, we been in a depression since 2008, I'm defining a depression here as long term trend of below average growth in GDP. Second, so you saying that the overreaction to covid under the Trump presidency that created helicopter money, aka high velocity money, and given to people to consume goods and services they were not producing, did "not" cause the general price increases of goods and services? The price of oil went up because of the self sabotage of supply lines from covid, and then the huge demand after reopening. The strong dollar actually helped against high commodity prices for Americans. Lastly, you are NOT going to "resolve" a 122% debt to GDP problem by simply "limiting deficit spending". We can't "grow our way out" of this, the debt is too high, the damage caused by years of malinvestments is too large, we have to STOP deficit spending all together. The real "solution" is that we have to let things fail, so that the market can cleanse itself, and that's the truth, sorry.
Fantasy solutions to impossible problems
@@jsanders100
Demcorats created insane problems and offered even more insane solutions.
And justifiably lost in a landslide.
Peter hits it out of the park again! Great show. Already looking forward to Peter's next appearance.
So much Truth in 1 interview !! Congratulations both ))
I'm ecstatic with Trump's victory and the year-end market surge. Which hidden jewels in the upcoming bull run would you buy with 150 grand right now? My goal is to position myself for a prosperous Q1 in 2025.
Thats when you hire someone to manage your money. You need a financial-advis0r straight up!
A good number of people discredit the effectiveness of financial advisors in exploring new markets, but over the past 10years I’ve had a financial advisor consistently restructure and diversify my portfolio/expenses and I’ve made over $3million in gains… might not be a lot but i'm financially secure.
Can you share details of your advisor? I want to invest my increased cash flow in stocks and alternative assets to achieve financial goals.
*''TRUDY ELIZABETH STOUFFER’'* a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
When the morphine in the Trump pill wares off, people are going to realize that Trump didnt fix anything
No, he made it worse
No Biden made it worse then trump and as he said in the beginning he voted for trump because Harris would have made it even worse then trump
Following Peter’s advice has cost people lots of money since 2008. Peter speaks about “What should be” instead of what will actually happen. According to Peter, Bitcoin should be zero yet here we are over $90K+
Its only 90k if you sell it at 90k
@@bumpyearth4204wow, you’re such a genius
@@bumpyearth4204 yeap and when the top whales sell off a small percent of there coin taking the price down again all those people who bought in at 40k to 90k will be holding the bag again and when the price dips the same whale will but it all back up at a discount price waiting for people to slowly fill there bag again for them to pull the rug again. buying I hold crypto but I know what it is. and it all owned by the same top 5% of people who own everything else. but if I plan right I can still get a lil of the pie slowy every time.
Peter's such a genius on economic theory. I like that he brings education in addition to his perspective. I love his point that inflation isn't just rising prices, but it also has the effect of stopping prices from falling. Barring exceptional circumstances, he really must end up correct. It's cause and effect, and it doesn't matter how much we paper over the problems, the fundamentals are going to necessarily catch up. It's a complicated picture, and it's hard to say whether it's advisable to participate in the inflationary melt-up or to bet against the stock market.
Schiff is too simplistic and myopic on the cause of inflation.
Inflation isn't just a function of the size of the money supply.
This is how Friedman described the relationship to money supply and inflation.
"You get inflation when growth in money supply is greater than the real growth in GDP.."
Inflation.= dM% - drealGDP%
This is largely why Trump didn't have inflation during covid,.. because the money supply was increased about the same amount the real GDP shrunk (or more accurately was shut down,.. needlessly come to find out).
Inflation became exacerbated when theBribem admin continued to unnecessarily deficit spend 7 to 10% of GDP after the pandemic was over.
Now the deficits are entrenched,. through farleftpolicy, wastefraud andabuse.
But it's more than that.
The minute the Bribem admin started its waronFossilFuels,.. inflation started to rise.
FossilFuels are the lifeblood of the economy. The prices of everything else are founded on the prices of energy and other resources..
So more generally,..
Inflation is a function of supply and demand.
The supply and demand of
commodities,
energy,
labor,
capital,..
and the supply and demand of money,.. where money has 2 sources,...
1. bank created money through lending,.. where
Inflation.= dM% - drealGDP%
In this case when the loans are paid back, the money supply gets reduced,.. so in bank created money,..
the money supply ebbs and flows with economci activity.
and
2. government created money through deficit spending,. where
Inflation.= dDeficitSpending% - drealGDP%
In this case,.. the spending does not run through the commercial banks. It gets sent directly to consumers.
and there is no obligation for the recipients of the deficit spending to pay it back.
There is eventually a treasury created,.. but the government never pays off its debt.
When a treasury matures,.. the government just issues another treasury,.. and so the money supply from government deficit spending never gets reduced. and is extremely inflationary of the deficit spending isn't matched by real growth in GDP.
Even Hanke says,.. the debt fo GDP problem could be resolved if deficit spending was limited to a maximum of the projected real growth in GDP.
It would be impossible to stop the deficit spending cold turkey,.. but the first goal would be to at least cut deficit spending to less than the real growth on GDP.
This is where Musk fits in in Trump's plans.
Which include,..
1. Expanding fossil fuel production to reduce energy costs
2, Canceling the policies of the Bribem admin that waste tax payer dollars on non productive activities. The "inflation reduction act",...
3. Bringing Musk in to cut waste, fraudand unjustifiable increases in spending,... and bring accountability into all departments,.. but especially the DOD.
4. End the wars,
5. close the border,..
6. get rid of this unproductiveDEIWokenonsense,..
7. pass pro-private sector growth policies (or remove those that restrict it),.. so that the private sector capital investment portion of GDP replaces the current government spending portion of it.
The government produces nothing. It certainly isn't in the business of inventing technology to make workers more productive.
and on and on,..
These all reduce government spending,..
And puts us on the path to have government deficit spending as a percent of real GDP between zero and the real growth in GDP.
0 < dDeficitSpending% < drealGDP%
Peter has been consistently wrong since 2010. I mean a 14 year track record in being wrong is quite something. If you have listened to him and just brought gold you have *lost* money when adjusting for inflation.
@@jcgoogle1808 But fundamentally, inflation is just a function of the rate of growth of the money supply with real GDP just offsetting that growth. I think Peter is fully aware that real growth can mask inflation, but what he's arguing is that we're not actually growing at all in real terms. We're just being thrown out wholly fabricated, decorated figures from the government all while the economy is plagued with weakening fundamentals. That gold is telling that story, especially globally. Consumers are feeling the true economy underneath the noise. We can indeed grow our way out of a rising *rate* of inflation, but it still doesn't solve the overall problem that deficit spending will continue to outpace any future growth we make in it without austerity measures. We need both things, to your point. I think there is the exceptional case where we experience a quantum leap in the economy borne through AI, and that's been what I've been pushing others to bet on. I think these are novel times that may defy economic gravity, but Peter's case is mostly just that this time isn't different and that this is just another house of cards coupled with the same bubble hysteria we always see. How can anyone deny that possibility? He may damn well be right, but I'd just rather bet long for the future than bet short for a regression. I think he's wrong on crypto despite being right about gold. I think it's we're going to begin to see gold and top crypto movements start to couple initially until they can erode the phony paper market to move toward an ETN market that reflects the true value of PMs and other commodities. As for the markets... the way I see it: if we have a huge melt-up, we're insulated from the short-term impacts of inflation and everyone in the market is screwed together. Mutually assured destruction. If we have a melt-down, it will be short-lived because we are not going to be stopping the progress of AI/tech for anything. Everyone knows it's our future. The worst outcome I see is a global sovereign debt crisis where we're all bled out for an extended period of times so these old money barons can come in and scoop up everything tech for dirt cheap. I don't think the crypto nor the stock markets are strong enough to endure that possibility.
@@jceezee1084 Yeah when you're basing it off of the ridiculous PM spot market. I think you should wake up and realize that that's going to vanish into thin air if people ever wanted their commodities. Upwards of 90-95% are phony paper trades. And we're seeing governments want their commodities. And if we're shifting into a crypto future with a metals market, you may see people wanting their commodities even more to offset the increased volatility of a ridiculously large pool of competing cryptocurrencies rife with security vulnerabilities and the like. Also the stock market is NOT the only indicator of real growth; it hides inflation within it. So you can't just go and simply determine what inflation rate is and compare it dollar-for-dollar to the spot price of gold. "Losing money" is relative once you start to see these markets cave in on themselves. This is what happens when we deviate from market fundamentals and the entire economy enters into a mass speculative hysteria.
Apartment and housing rent has doubled in the last 4 years. Most ppl cannot keep up with the bills.
THEY EXPECT Trump to fix it. But it won't get fixed.
Been a fan of Peter for nearly 20 years. He was right about sub prime and has been right about gold. He's been dead wrong about the dollar and the US economy. I still very much enjoy his perspective.
He’s also been wrong about bitcoin
@@pojack9979he's not wrong about Bitcoin. He says it is worthless and it is worthless. That doesn't mean people won't temporarily choose to assign a value to it anyway. Peter's company accepts payment in Bitcoin so he has some himself (and is probably selling it at these current highs) - but he knows that whatever the numbers say at the moment, at the end of the day, it's still worthless.
few people talk rationally like schiff in this mad world now..
Bitcoin at 1 million. Peter schiff: These idiots!!
Butcoin is the cbdc. Lol
In this system with so much money printing even BTC at 1 million is thinkable.
1 million worthless us dollars. so what?
The problem with the BTC proponents is that they are so sure BTC is going to be money or reserve currency which will take over the USD. This is why they are making mindless predictions of its price and HODLing. The Government wont allow crypto to be legal tender because it would be unconstitutional and would take away their reckless spending power @lepton31415
Bitcoin market cap flips the gold market cap. Peter Schiff: Bitcoin has no value! Bitcoin is nothing! Nothing I say!
Always good to hear Peter's grounded informed assessment. For some reason I enjoy his pessimistic view of the state of the US economy and Michael Sailors wishful thinking 😮
Humans love doomsday prophecy-type stuff. Its part of our psychology. We find cataclysms and such exciting!
David gets a gold star for his patience with Peter! That man can talk! Just watching Mr.Lin do his taxes while Schiff hits the fan is pretty amusing...
With copytrading, you could be sipping coffee on a balcony overlooking a bustling city skyline or lounging on a pristine beach, all while your investments work for you. Picture the freedom to pursue your passions, travel the world, and create lasting memories with your loved ones, all because you took the initiative to harness the power of copytrading and build the life you've always dreamed of.
I'm celebrating a $60k stock portfolio today. started this journey with 6k. I have invested on time and also with the right terms now I have time for my family and the life ahead of me just one of the things copy tradee can do.
Do you invest with a professional broker? I'd appreciate it if you show me how to go about it.
Can't share much here, I take guidance from ‘Sophia E Haney’ a renowned figure in her industry with over two decades of work experience. I'd suggest you research her further on the web.
Use her name to quickly conduct an internet search.
SHE’S MOSTLY ON TELEGRAMS APPS WITH HER NAME.
Excellent. Thank, Mr.Schiff.
good points.The USA does not have the capacity to manufacture most imports regardless of tariffs. Tariffs are a kind of sales tax on consumers.
The only thing the US produce is a consumer
I think Peter Zeihan makes a decent point about modern manufacturing. So I'll steal his point. It can and has come back, industry in the USA doubled this past 2 years.
Given its only 400~billion each year that's very modest but still present.
Also manufacturing will probably not look like a bunch of dudes on an assembly line rather 2 computer scientists and 1 engineer/technician in the middle of nowhere with a bunch of 3d printers or machinery.
I’ve been making my shopping list since the election. Also stocking up on other items I will need when the tariffs hit
Always a pleasure to listen to Peter. (Except when he has a rant on btc 😆)
Straight shooter, no BS guy.
This is d roaring 20s all over again Great Depression is next. Then follows ww3 watch it happen
History doesn’t repeat but it rhymes
All this posturing is at a cost and someone is going to press the big red button because they're tired of talking.
You understand👍
All started by US of A
Agree, history always repeats itself.
The biggest waste is paying Senate and Congress way too much.
Where do idiots get this. They make 175 a year. That's less than a lot of professionals. Less than I made, what the hell is wrong with you idiots.
First time anyone on RUclips has said anything meaningful since the recent bubble began.
Thanks to Peter for bringing us back down to earth.
12:35 Here Peter says exactly what Prof Steve Hanke said. It's the money supply.
After years of preaching it looks like Peter finally gets his moment in the spotlight and confirmation. Buckle up.
Schiff is too simplistic and myopic on the cause of inflation.
Inflation isn't just a function of the size of the money supply.
This is how Friedman described the relationship to money supply and inflation.
"You get inflation when growth in money supply is greater than the real growth in GDP.."
Inflation.= dM% - drealGDP%
This is largely why Trump didn't have inflation during covid,.. because the money supply was increased about the same amount the real GDP shrunk (or more accurately was shut down,.. needlessly come to find out).
Inflation became exacerbated when theBribem admin continued to unnecessarily deficit spend 7 to 10% of GDP after the pandemic was over.
Now the deficits are entrenched,. through farleftpolicy, wastefraud andabuse.
But it's more than that.
The minute the Bribem admin started its waronFossilFuels,.. inflation started to rise.
FossilFuels are the lifeblood of the economy. The prices of everything else are founded on the prices of energy and other resources..
So more generally,..
Inflation is a function of supply and demand.
The supply and demand of
commodities,
energy,
labor,
capital,..
and the supply and demand of money,.. where money has 2 sources,...
1. bank created money through lending,.. where
Inflation.= dM% - drealGDP%
In this case when the loans are paid back, the money supply gets reduced,.. so in bank created money,..
the money supply ebbs and flows with economci activity.
and
2. government created money through deficit spending,. where
Inflation.= dDeficitSpending% - drealGDP%
In this case,.. the spending does not run through the commercial banks. It gets sent directly to consumers.
and there is no obligation for the recipients of the deficit spending to pay it back.
There is eventually a treasury created,.. but the government never pays off its debt.
When a treasury matures,.. the government just issues another treasury,.. and so the money supply from government deficit spending never gets reduced. and is extremely inflationary of the deficit spending isn't matched by real growth in GDP.
Even Hanke says,.. the debt fo GDP problem could be resolved if deficit spending was limited to a maximum of the projected real growth in GDP.
It would be impossible to stop the deficit spending cold turkey,.. but the first goal would be to at least cut deficit spending to less than the real growth on GDP.
This is where Musk fits in in Trump's plans.
Which include,..
1. Expanding fossil fuel production to reduce energy costs
2, Canceling the policies of the Bribem admin that waste tax payer dollars on non productive activities. The "inflation reduction act",...
3. Bringing Musk in to cut waste, fraudand unjustifiable increases in spending,... and bring accountability into all departments,.. but especially the DOD.
4. End the wars,
5. close the border,..
6. get rid of this unproductiveDEIWokenonsense,..
7. pass pro-private sector growth policies (or remove those that restrict it),.. so that the private sector capital investment portion of GDP replaces the current government spending portion of it.
The government produces nothing. It certainly isn't in the business of inventing technology to make workers more productive.
and on and on,..
These all reduce government spending,..
And puts us on the path to have government deficit spending as a percent of real GDP between zero and the real growth in GDP.
0 < dDeficitSpending% < drealGDP%
The truth will one day will surface up then the world will be in great awakening. Sad for many will burnt, only the wise will survive and maybe hyperbolic gain.
Hilarious watching David CRINGE as Peter kept slamming Bitcoin as a worthless asset! 😂
I cannot comprehend how people trust Bitcoin as a solid investment; if people just acknowledged it was the currency for crime, that would be fine. I would want an easy way to invest in stuff like the cartel, fentanyl trade, banking fraud etc too so I would invest in it if it were like that but right now its just rabid speculation.
The dollar is used for crime magnitudes more than Bitcoin...😂
@@RJALLDAY616 oh yeah !??? all the hackers are asking for us dollars to be deposit in their bank account
Really, banks require more regulation. The entire idea of banking as "let's gamble" is terrifying. Because they discovered in 2008 that the government will always bail them out, there are no repercussions. These bank crisis are so worrisome. This whole financial crisis and the Great Recession posed the most significant macroeconomic challenges for the United States in a half-century, leaving behind high unemployment and below-target inflation and calling for highly accommodative monetary policies. And this is only the beginningRead more
Since 2020, the banks have been over-leveraging their assets, which was one of the reasons for SVB's implosion. I have never been okay with keeping much money in the bank. I simply focus on diversified investments through a financial advisor, collect my profits, which I either spend or repeat the process. Never been this comfortable with my finances.
I have learnt not to trust corporations, especially these banks. I was badly hit by the '08 financial crisis. Since 2019, I've just been focused on investing through a financial advisor and it has been paying off. No major loss has ever been recorded since 2019 i started. I'm closer to having a million now than i ever was with the banks. I'm never going back to banks full time.
2008 is never solved, only extended by printing money.
@@DonaldStokes-p I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
'Sharon Ann Meny' is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment
Peter feeling a lot better this morning. This is your best video ever! Comments below are true.
The public knows what the economy is, propaganda won't sway them.
Another crypto "All-In"er
Literally wrong the public believes the propaganda, that's how we got here and why nothing has happened yet.
17:47 In Portugal, we have been tightening our belts since 1980. So who has to tighten their belts now? After 40 years its obvious that the ones who needed to tighten their belts the most were the ones who didn't.
The 2.5% COLA for 2025 provides a modest increase in benefits for Americans receiving Social Security and SSI payments, helping to offset the rising cost of living and inflation. This increase offers essential financial relief for vulnerable populations like retirees.
The thought of retirement makes me cry. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you never imagined to happen. It’s so difficult for people who are retired and have no savings to fall back on.
True, It has never been easier to understand how to build your money after retirement than it is right now with the inflation, when you may study and experience a completely variegated market passively by employing a successful portfolio-advisor. The impacts of the U.S. dollar's gain or fall on investments, in my opinion, are complex.
I completely agree; I am in my mid 40s, approaching retirement, and have approximately over 2million dollars in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, the Fin-advisor can only be neglected, not rejected. Just do your due diligence to identify a fiduciary one.
This is exactly how i wish to get my finances coordinated ahead of retirement. Can you recommend the financial advisor you used to get ahead?
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Stacy Lynn Staples’’ for about three years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
The fact he said he is not permitted to be fired shows who actually runs everything
Also. Drumf said he LIKES THE UNEDUCATED ! 😮
That's why he wants to do away with the Department of Education to make them even more Dumber
He must love you and yourGF.
The DoEd has turned into a DEITrans groomer mill. I mean just look in the mirror,.. little lady.
It makes no contribution to real education/
If you and yourGFabove had an education,.. you might understand this
Schiff is too simplistic and myopic on the cause of inflation.
Inflation isn't just a function of the size of the money supply.
This is how Friedman described the relationship to money supply and inflation.
"You get inflation when growth in money supply is greater than the real growth in GDP.."
Inflation.= dM% - drealGDP%
This is largely why Trump didn't have inflation during covid,.. because the money supply was increased about the same amount the real GDP shrunk (or more accurately was shut down,.. needlessly come to find out).
Inflation became exacerbated when theBribem admin continued to unnecessarily deficit spend 7 to 10% of GDP after the pandemic was over.
Now the deficits are entrenched,. through farleftpolicy, wastefraud andabuse.
But it's more than that.
The minute the Bribem admin started its waronFossilFuels,.. inflation started to rise.
FossilFuels are the lifeblood of the economy. The prices of everything else are founded on the prices of energy and other resources..
So more generally,..
Inflation is a function of supply and demand.
The supply and demand of
commodities,
energy,
labor,
capital,..
and the supply and demand of money,.. where money has 2 sources,...
1. bank created money through lending,.. where
Inflation.= dM% - drealGDP%
In this case when the loans are paid back, the money supply gets reduced,.. so in bank created money,..
the money supply ebbs and flows with economci activity.
and
2. government created money through deficit spending,. where
Inflation.= dDeficitSpending% - drealGDP%
In this case,.. the spending does not run through the commercial banks. It gets sent directly to consumers.
and there is no obligation for the recipients of the deficit spending to pay it back.
There is eventually a treasury created,.. but the government never pays off its debt.
When a treasury matures,.. the government just issues another treasury,.. and so the money supply from government deficit spending never gets reduced. and is extremely inflationary of the deficit spending isn't matched by real growth in GDP.
Even Hanke says,.. the debt fo GDP problem could be resolved if deficit spending was limited to a maximum of the projected real growth in GDP.
It would be impossible to stop the deficit spending cold turkey,.. but the first goal would be to at least cut deficit spending to less than the real growth on GDP.
This is where Musk fits in in Trump's plans.
Which include,..
1. Expanding fossil fuel production to reduce energy costs
2, Canceling the policies of the Bribem admin that waste tax payer dollars on non productive activities. The "inflation reduction act",...
3. Bringing Musk in to cut waste, fraudand unjustifiable increases in spending,... and bring accountability into all departments,.. but especially the DOD.
4. End the wars,
5. close the border,..
6. get rid of this unproductiveDEIWokenonsense,..
7. pass pro-private sector growth policies (or remove those that restrict it),.. so that the private sector capital investment portion of GDP replaces the current government spending portion of it.
The government produces nothing. It certainly isn't in the business of inventing technology to make workers more productive.
and on and on,..
These all reduce government spending,..
And puts us on the path to have government deficit spending as a percent of real GDP between zero and the real growth in GDP.
0 < dDeficitSpending% < drealGDP%
@@rubyred8332 "even more Dumber"
Looks like you're a proud graduate of the publik skewl sistum.
"Drumf"
Does your calendar say, "2016"?
Drumf and Drumfer
Peter Schiff is one of the greatest educators.
But he still doesn't understand the matrix is all fixed. They will rug pull when they want. It's not a free market anymore.
Yes but no so great investor, had people invested in S&P instead of gold and mining stocks since 2020 the gain spread world have been near 90% spread
I always enjoy your interviews, David. You ask the right questions.
Even if Ron Paul was president, he couldn't save us at this point. Fun times ahead. Let's hope Trump doesn't take all the blame for 40 years of debt and money printing.
He wanted the job and it comes with it.
He was responsible for 4 years of it already and he'll own it for the next 4. Look up his Taper Tantrum. That definitely didn't help.
Oh I don't know. He isn't going to live long enough to see the end of his Presidency. I don't see the Heritage Foundation allowing it.
Ron Paul is an idiot.
Republicans overall are to blame starting with Reagan and trickle down economics.
Schiff is extremely intelligent. If you are wondering where inflation the past few years came from listen to the first half of this video. If you want to skip to the summary just go to 10:00 in. His points on government deficits along with QE is terrible for the working man.
So many financial social media channels give advice mostly to those with a lot of money invested, or to invest, and mostly talk to what benefits the wealthy. They ignore how the actions of Trump will impact working people; and how it will push more people from the Middle Class into being low income.
I mean; what I have learned about project 2024; not to mention other similar projects, will devastate our economy. His deportation program alone will make new housing, food, many services, restaurants, and other products and services far more expensive.
This will make it much harder for working people to invest for retirement.
Better than any economy college class
Waste of $ now. Internet is free and you can learn anything
Why is there no talks about cutting the DOD budget??? Its ridiculous how big the dept of defense budget is!!!
Bot spotted, but its mostly because no one actually knows where it goes. The US governement legit does not even know how many bases they have. Just to repeat THE US DOES NOT KNOW HOW MANY US MILIRARY BASES THEY OWN
Because it's are last strength left manufacturing has left...let them spend it
David Lin possesses "The Magnificent Mop!" The towering rooster tails he sports are wondrous and spectacular. I see nobody who is even in the same league as Lin. I actually get depressed when he gets a haircut or a trim.
David Lin and Chubbyemu. Difficult to choose.
Trump should've honestly included you in his cabinet.
No he wouldn't, despite voting for him Peter is a fierce critic of Trump and against more stimulus
That would be like my wife taking our accountant with her when she goes shopping
T@@josephl9619that should be done
Hell no
trump wants loyalists above absolutely everything. Truth will be secondary
US Dollar has lost 50 % of it's value against Gold in only 6 years from 1300 dollars per ounce to 2700 dollars per ounce 🥇🥇🥇🥇
Now do bitcoin
@@jceezee1084damn, you beat me to it 😂
Ask Peter what he thinks about bitcoin. People keep trying to make up crap to create value. You only create value by creating value. Gold is stupid and bitcoin is stupid. A company that makes something has value. Raw materials have value.
Ask how many Americans carry around a gold bar. People have been sold the idea that gold is valuable. That comes from thousands of years ago. The only reason that gold even is traded is because people are arrogant but not smart. So they want to believe that there is a solution to greed. But the only solution is to stop being greedy. You can’t just make up something because you want to believe there is a solution.
God man what is wrong with you David. Bitcoin is stupid. It’s just made up BS. I’m so amazed at how stupid supposedly smart people are. If anybody can create crypto with no limit why would you believe that it’s going to be valuable? And I know someone is going to say well the government keeps printing money but the difference is the government can enforce laws and individuals can’t.
Always makes sense. Speaks the truth.
David's hair is higher than Bitcoin today.😂😂😂
It's following the SnP 😂 David has great hair and a great show 🎉
H.O.D.L. Hair gel 😏
@scottstefan1 Yes, Thanks.
He need to fire his barber and his personal trainer 🤦🏻♂️🤣🤣
His hair is truly magnificent!
Peter Schiff is a Genius - and David you have the best guests
Country point Glenn Beck pod cast 48:25 mark is where it starts
I generally agree with his politics but he has been wrong for 20 years.
Early. Fixed it for ya
Gareth Soloway is far from best.
Dave has the best hair
So Trump is not going to change anything.
No but Petey has to kiss his ass.
Make it much worse.
He’s going to change things for the worse
Sure with matt gaetz as AG among other things, USA cant go wrong
It's always heartening when I see comments from those who aren't sucked into the stage show. The delusion I see from people who think he's going to be the savior of America just confirms how doomed we really are, they are literally mocking us that dark MAGA is coming for us.
Peter always has all the answers
I’ve always done better under Democrats
That's because they spend and it appears good for the economy. However, it is not sustainable. We can no longer kick the can down the road.
So has Harris. 🤣
This is one of the best interview you've done yet. I love peters perspective as it relates to the election. It makes sense.
Peter schiff is my spirit animal.
This time, I think, Peter Schiff is spot on...
I always like Peter interviews.
I have been saying for years and years that the debt crisis (and it is a crisis) will never be solved because no one will vote for across the board austerity. The only political policies that can help alleviate that mindset would be strict term limits and a balanced budget amendment.
By the way, Peter is spot on with his analysis.
@@DjmMik tax the billionaires and top 1% too. Billionnaires only pay a fraction of the rate that janitors do.
But nobody has the courage to do it.
when bitcoin was at 60k this guy said he is bearish on btc and its going down to 20k in 2024.Never right
Good thing Schiff voted for Trump. I'd hate to hear how negative his prognostications would be if he hadn't.
haha the irony...
😂😅👍👍
Voting doesn’t require fealty
Best explanation of what occurred and probable outcome. Macroeconomics class taught by a master.
People need to realize that things are very different in 2024 then they were in 2016. 16 PE compared to 25 now. .5% fed funds rate compared to 4.75 now, 10% of tax receipts for interest expense compared to 25% and climbing now. We are screwed no matter what! He will get it back but not until we go through a long recession. Baked in but it’s ok! It will lower prices !
David I love this guess I don't agree with everything Peter says especially on the dollar but Peter calls it like it is that's why I love Peter he's been doing that since early 2000
The policies Peter is speaking about of cutting spending, tightening belts, increasing savings etc., are standard macroeconomic policies that the U.S. has ignored for years. At this point, the U.S. economy is so far off the Golden Rule of economics that it would take quite a while for us to save and reduce consumption in order to bring economic balance back to the economy.
The solution is to inflate more so the government can dilute the current market and have a mostly fresh start.
Things ALWAYS get worse, BEFORE things can get better.
All things happen in Gods time brothers and sisters.
100% agree with schiff. Clearly trump policies will make things worse not better.
You agree with him that we should not deport illegals costing taxpayers a BILLION dollars a day??? Out of your frickin mind.
Yeah but it's funny when Democrats cry about it. Increasing debt to buy you voters(like forgiving student debt) vs by cutting taxes is not the same
So then why did he vote for him
@@rubyred8332 vote for him twice, 1st time he expected trump to do what he said he's going to do, cut gov, instead he increased it, so he did the same thing and expected a different result this time, from someone who is pathological! Harris or trump it doesn't matter the market is due for a major correction!
You and Schiff are clearlyclueless.
YourinsaneBribemKackles admin has been unnecessarily and unprecedentedly deficit spending 5 to 10% of GDP for year after the pandemic is over,...
when we weren't even in a recession,
generating 1 to 3% real GDP growth,
giving us an entrenched steady state true structural inflation rate of about 5%.
Inflation is a function of supply and demand.
The supply and demand of
commodities,
energy,
labor,
capital,..
and the supply and demand of money,.. where money has 2 sources,...
1. bank created money through lending,.. where
Inflation.= dM% - drealGDP%
In this case when the loans are paid back, the money supply gets reduced,.. so in bank created money,..
the money supply ebbs and flows with economci activity.
and
2. government created money through deficit spending,. where
Inflation.= dDeficitSpending% - drealGDP%
In this case,.. the spending does not run through the commercial banks. It gets sent directly to consumers.
and there is no obligation for the recipients of the deficit spending to pay it back.
There is eventually a treasury created,.. but the government never pays off its debt.
When a treasury matures,.. the government just issues another treasury,.. and so the money supply from government deficit spending never gets reduced. and is extremely inflationary of the deficit spending isn't matched by real growth in GDP.
Even Hanke says,.. the debt fo GDP problem could be resolved if deficit spending was limited to a maximum of the projected real growth in GDP.
It would be impossible to stop the deficit spending cold turkey,.. but the first goal would be to at least cut deficit spending to less than the real growth on GDP.
This is where Musk fits in in Trump's plans.
Which include,..
1. Expanding fossil fuel production to reduce energy costs
2, Canceling the policies of the Bribem admin that waste tax payer dollars on non productive activities. The "inflation reduction act",...
3. Bringing Musk in to cut waste, fraudand unjustifiable increases in spending,... and bring accountability into all departments,.. but especially the DOD.
4. End the wars,
5. close the border,..
6. get rid of this unproductiveDEIWokenonsense,..
7. pass pro-private sector growth policies (or remove those that restrict it),.. so that the private sector capital investment portion of GDP replaces the current government spending portion of it.
The government produces nothing. It certainly isn't in the business of inventing technology to make workers more productive.
and on and on,..
These all reduce government spending,..
And puts us on the path to have government deficit spending as a percent of real GDP between zero and the real growth in GDP.
0 < dDeficitSpending% < drealGDP%
Get a clue.
If I had listen to Schiff for the lasr 10yrs and not bought Bitcoin I would be poorer today.
How many have missed out listening to him?
I fuckin love this guy
I've been listening to Peter since 2014👍
The rich need to pay their fair share. Generating revenue… not cutting that revenue
According to Trump & his MAGA supporters that sounds like radical left wing Marxism.
So Harris would've been better.
@ yes. That was her plan. The tax cut for the rich doesn’t expire until 2025. We’ve still been dealing with all that lost revenue which adds to the debt which adds to inflation. Her plan was to clearly INCREASE taxes for the rich. Trickle down doesn’t work. Ever.
The Rich pay there share. They just use the Strategy…..which was put in place. To pay no taxes.
The Rich live off their Assets. 👍
It's not the rich so much as the large corporations that end up paying very little or no tax. Taxing individuals no matter how rich wont get get us much of anything.
In essence, trickle-down economics doesn’t usually stimulate broad-based growth, and by increasing inequality, it can actually undermine long-term economic stability and growth.
I think this is the most coherent that I have seen Peter.
Schiff making some very valid points, as usual.
I'm grateful Trump prevailed over KaMALA, but it's foolish to think he's got any fiscal discpline whatsoever. And that's before taking into account that the Senate or House will never vote to cut spending.
Peter: "Market is wrong, Trump is wrong, everyone is wrong. Buy gold - from me!"
Look at PE ratios you think it is normal?
The "majority" is usually wrong. That's how the universe is balanced.
@@Lexman00Yup, gold will crash, bitcoin will crash. This is The Everything Bubble.
@@stefanonbekend8177 I'm not too familiar with bitcoin, but as someone who has never invested in gold but is planning to let me give you my pitch lol.
Gold is actually fairly reasonable as an economic resource, firstly, and most crucially, countries are starting to trade in it again. Specifically countries such as Russia, China, Russia. When they engage in international trade they will sometimes split the difference using gold instead of rubbles or rmb since they may not want foreign currency. This is pretty big because it is finally is seeing some real use for the first time in decades, with the trend likely continuing as the USA pushes more countries out into the fringe.
U.S. Government cannot buy gold, if they did that it would signal to the world that the dollar is worthless.
Thank you very much. Gold has been clobbered recently..
This is the most indepth breakdown of what's going to unfold that I have listened to thus far. Peter cuts through the BS and gives us the hard truth. The mainstream media failed to break down this reality to the electorate. We need more people like him.
Schiff is too simplistic and myopic on the cause of inflation.
Inflation isn't just a function of the size of the money supply.
This is how Friedman described the relationship to money supply and inflation.
"You get inflation when growth in money supply is greater than the real growth in GDP.."
Inflation.= dM% - drealGDP%
This is largely why Trump didn't have inflation during covid,.. because the money supply was increased about the same amount the real GDP shrunk (or more accurately was shut down,.. needlessly come to find out).
Inflation became exacerbated when theBribem admin continued to unnecessarily deficit spend 7 to 10% of GDP after the pandemic was over.
Now the deficits are entrenched,. through farleftpolicy, wastefraud andabuse.
But it's more than that.
The minute the Bribem admin started its waronFossilFuels,.. inflation started to rise.
FossilFuels are the lifeblood of the economy. The prices of everything else are founded on the prices of energy and other resources..
So more generally,..
Inflation is a function of supply and demand.
The supply and demand of
commodities,
energy,
labor,
capital,..
and the supply and demand of money,.. where money has 2 sources,...
1. bank created money through lending,.. where
Inflation.= dM% - drealGDP%
In this case when the loans are paid back, the money supply gets reduced,.. so in bank created money,..
the money supply ebbs and flows with economci activity.
and
2. government created money through deficit spending,. where
Inflation.= dDeficitSpending% - drealGDP%
In this case,.. the spending does not run through the commercial banks. It gets sent directly to consumers.
and there is no obligation for the recipients of the deficit spending to pay it back.
There is eventually a treasury created,.. but the government never pays off its debt.
When a treasury matures,.. the government just issues another treasury,.. and so the money supply from government deficit spending never gets reduced. and is extremely inflationary of the deficit spending isn't matched by real growth in GDP.
Even Hanke says,.. the debt fo GDP problem could be resolved if deficit spending was limited to a maximum of the projected real growth in GDP.
It would be impossible to stop the deficit spending cold turkey,.. but the first goal would be to at least cut deficit spending to less than the real growth on GDP.
This is where Musk fits in in Trump's plans.
Which include,..
1. Expanding fossil fuel production to reduce energy costs
2, Canceling the policies of the Bribem admin that waste tax payer dollars on non productive activities. The "inflation reduction act",...
3. Bringing Musk in to cut waste, fraudand unjustifiable increases in spending,... and bring accountability into all departments,.. but especially the DOD.
4. End the wars,
5. close the border,..
6. get rid of this unproductiveDEIWokenonsense,..
7. pass pro-private sector growth policies (or remove those that restrict it),.. so that the private sector capital investment portion of GDP replaces the current government spending portion of it.
The government produces nothing. It certainly isn't in the business of inventing technology to make workers more productive.
and on and on,..
These all reduce government spending,..
And puts us on the path to have government deficit spending as a percent of real GDP between zero and the real growth in GDP.
0 < dDeficitSpending% < drealGDP%
The man the legend. Peter Schiff. Click, like, watch, comment, subscribe, buy gold. 🙌👍🏾🐻❄️🏦🚨👋💛🪙💰🔑💴💲🏧🧧💳💸🤑
US tariffs are great for the rest of the world. The US tariffs means that the rest of the world consumers are no longer competing with US consumers who are paying with the world reserve currency.
You won't be saying that after other countries place tariffs on digital consulting and fnancial services for corporations traded on wall st s&p, registered in DE, etc.
@@stevenkellysillick4042As an EU citizen I cannot buy an American ETF, they are forbidden in the EU.
@@larsh2923 yes you can, you can give your money to someone in the states and in trust as your agent he can conduct your will by virtua
Totally agree with everything Peter said. I been happily buying the dip on pm's and foreign stocks.
What a week! A lot of news have been going on about a rally after the election, urging investors to watch out for stocks that would be experiencing significant growth. Any idea which stocks to put on my watchlist?
Elon Musk has played a major role in the campaign, especially in sectors like energy and automotive. With Trump winning, there's uncertainty, as the market has been full of surprises. It's wise to follow professional advice.
Having an investment advisor is the best approach to the market right now. I was going solo without much success until my wife introduced me to an advisor. I've achieved over 80% capital growth this year, excluding dividends.
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?.
Credits goes to Sonia Nunes Demelo one of the finest portfolio managers in the field. She's widely recognized; you should take a look at her work.
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
Peter shiff always spot on
Bitcoin will have less value than Tulips.
@markgoldstein8692 Sorry but it's getting ridiculous how gold bugs just keep repeating that bitcoin is worthless. As if all the billionaires and everybody that own BTC don't realize that it's digital. You're living in denial. Believe whatever delusional definition of money you want but everybody else is moving on. We understand that money is just a current medium of exchange and that nobody can print bitcoin so there's no need to go to some sleazy banker to get something physical before they print more money and steal your purchasing power.
When
i payed my house off today with bitcoin. but yea no value😂
Coming from a hater look at its value already it’s beating everything :-)
@@robertallan1404 price does not equal value.
I'm not a Trump supporter, but i do agree we are on track regardless of either candidate for hitting an economic crisis.
🥇GATHER GOLD🥇🥈STACK SILVER🥈🥇BYOB🥈BE YOUR OWN BANK🥇
Ok boomer
I'm 47yrs old. $22,000 weekly and I'm retired, this video have inspired me greatly in many ways that I remember my past of how I struggled with many things in life to be where I am today!!!!❤️
I'm highly inspired.
Please spill some sugar about the weekly stuff you mentioned.
Maria Luisa Clare is to be thanked. I got my self my dream house 🏠 just last weekend, My journey with her started after my best friend came back from New York and saw me suffering in dept then told me about her and how to change my life through trading with her. Christina A. Tucker is the kind of person one needs in his or her life!
< I know that woman(Maria Luisa Clare)
If you were born and raised in new York you'd know too, No doubt she is the one that helped you get where you are!!
Wow 😱 Me too
Miss Maria Luisa Clare is a remarkable individual whom has brought immense positivity and inspiration into my life.
How can someone get connection to that Woman y'all speaking bout !!!?
I'm so happy I made the best decisions by having a good investment, Recently I was able to acquire my second house even as a single mom at 42 and I believe if things keep going well I would retire early..,…
Congratulations dear. You're doing well for yourself, I'm 48 and my financial life is in a mess. Any great tips would go a long way in shaping my life. I want to buy my own house, that's a big flex
I will be forever grateful to you, you changed my whole life and I will continue to preach on your behalf for the whole world to hear that you saved me from huge financial debt with just a small investment, thank you Jihan Wu you're such a lifesaver
As a learner in this, you need to have a mentor to keep you accountable. Jihan Wu is also my trade analyst, he has guided me to identify key market trends, pinpointed strategic entry points, and provided risk assessments, ensuring my investment decisions align with market dynamics for optimal returns.
Jihan Wu Services has set the standard for others to follow, we love him here in Canada 🇨🇦 as he has been really helpful and changed lots of lives
His guidance allowed me to restructure my retirement plan, resulting in an estimated $700,000 more by the time I retire.
So wrong so often. But hey, he’ll be right some day.
I'm not kidding when I say that the market crash and high inflation have me really stressed out and worried about retirement. I've been in the red for a while now and although people say these crisis has it perks, I'm losing my mind but I get it Investing is a long-term game, so focus on the long run.
I can’t focus on the long run when I should be retiring in 3years, you see I’ve got good companies in my portfolio and a good amount invested, but my profit has been stalling, does it mean this recession/unstable market doesn’t provide any calculated risk opportunities to make profit?
There are a lot of strategies to make tongue wetting profit especially in a down market, but such sophisticated trades can only be carried out by proper market experts
I agree, my profit has been consistent no matter the market situation, I got into the market early 2019 and the constant downtrends and losses discouraged me so I sold off, got back in Dec 2020 this time with guidance from an investment adviser that was recommended by a popular economist on a subreddit, long story short, its been 2years now and I’ve gained over $850k following guidance from my investment adviser.
That's awesome! Investing in stocks with a reliable trading system can lead to great outcomes. It's fantastic that you've been working with a financial advisor for a year now. Starting with less than $200K and being just $19,000 away from making half a million in profit is impressive! Keep up the good work!
how can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your succedss??
Peter is genius & if he’s right about BTC he will be the 🐐
I foresee a recession lasting 2-3 years, and if inflation continues to surge, the Federal Reserve will likely raise interest rates soon. Inflation is causing various issues worldwide, such as food shortages, scarcities of diesel and heating fuel, and significant spikes in housing prices, leading to a potential financial market crash. This global downturn could have long-lasting repercussions. Given the current inflation rate of approximately 9%, my main worry is how to optimize my savings and retirement fund, which has remained stagnant at around $300,000, yielding almost no gains for quite some time.
Numerous opportunities exist to achieve substantial profits at present, but executing high-volume and nearly flawless trades requires the expertise of real-time professionals with an ISDA Agreement. This agreement allows investors to participate in sophisticated trades, exclusive to seasoned individuals, and unavailable to amateurs. Attempting to be a high-stakes trader without an ISDA is akin to trying to win the Indy 500 riding a llama.
Inflation is over 10% here in the UK, but as we know it's definitely way more than the Government would like to admit. My plan is to earn more passive income and ride this out, can your Investment-adviser assist?
Could you kindly leave your investment advisor's contact information here? I absolutely must have one.
My Financial adviser is ‘’Melissa Terri Swayne’’ she’s highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market
thank you for this tip, I must say, She appears to be quite knowledgeable. After coming across her online page, I thoroughly went through her resume, and I must say, it was quite impressive. I reached out to her, and I have booked a session with her.
Hey David, i would love to see Prof. Peter St. Onge on your channel to explain how Trump's policies could work out with success... or even if he could debate Peter Schiff, that would be awesome! Thanks!
David - I could have listened for another hour at least of this interaction between you and Peter 🎉
David probably owns some Bitcoin 😂
Schiff makes so much sense. ❤