Peter Schiff is a genius, as was his father RIP. True patriots. I have a tremendous amount of respect for these men who speak against the popular narrative.
I think Peter is pretty much right on everything long term. With all these tricks, manipulation, smoke and mirrors stuff going on it’s taking longer for his predictions to come true.
@@carademarcus He predicted the Mortgage Crisis & the 07-08 Financial Crisis and was mocked while making the prediction and after being proved correct. Everyone wants a time stamp... who knows how long the scam will go on with super low interest rates & endless supply of money. But if you don't believe Peter believe the World Economic Forum's Great Reset, "You Will Own Nothing and Be Happy".
@@LatimusChadimus And also look into George Gammon, J Bravo, Robert Kiyosaki, McAlvany Financial, and The Money GPS too. They are very knowledgeable, great economic guys as well. I watch all these guys plus the ones already mentioned and you'll get wide variety of valuable information to see the whole game for what it is.
Paul's Health & Fitness Some are funny and some are very serious but represent the perfect way to describe something, for instance he used the analogy of the “heroin addict” a perfectly describe the economy, the fact that we have to go through some painful withdrawal just like a real heroin attic but that will survive, versus keep taking the drugs and then have a fatal overdose!
I started working with my dad in middle school as a mechanic it wasn’t till well after high school I started getting good checks but at that point I was also able to run a shop on my own. my pops past away in 2018 so now I’m a self employed small business owner.
I hope Mr. Schiff reaches a new audience today. His arguments and austrian economics should be common knowledge. Even if you disagree everybody needs to hear it.
Peter of course is 100% correct but his timing is always crappy but my biggest issue is why not talk about the limitation we have on the number of suppliers? That is never talked about. It's always been stimulus checks are bad but stimulus cks are only 15% of the whole stimulus package where's the rest of the money going? I just find the whole concept of focusing on the individual getting stimulus versus the 85% that was given out to the rich or zombie companies is okay or it's bad but whatever. It's okay for large companies to take advantage of all the shutdowns. They're giving a gift and it's bad to tax them because they're free market. they're not free market their crony capitalists
@@bluenami7520 what Peter was saying was absolutely true. More people should learn how government interventions almost always backfire and make things far worse.
@@bluenami7520 you don’t need to be an expert to recognize someone to be an expert. You can recognize they are an expert by examining their arguments and logic presented against counter arguments and presenting a logical thesis with well thought out factual points to support it. Stop trying to act more intelligent than you are by regurgitating something you’ve seen someone else say.
Taxes are so crazy. Tax the business when it receives revenue, tax the employee when they get paid, tax the consumer when they spend. Its this circle of unending tax constantly taking value out of the wealth creation of everyone.
@@bluenami7520 $21 Trillion is unaccounted for from the Pentagon's budget. $2.3 Trillion was also unaccounted for right before 9/11 hit the Pentagon. The govt is the best at corruption, thievery, incompetence, wasteful spending.
That's what happens when you want the biggest military of the next ten countries. I would chop the military by 75%. Update our nukes and more drones. Less people people are expensive long-term. And that's just for starters. It's the only way out. And I don't mean just the military I mean that's just the start
Yup, then it gets spent on blowing up brown people in the Middle East for oil while propagating the next generation of retaliation through collateral damage. It’s effed beyond belief
Your ideas are correct Peter, in a world that follows the rules. The problem is that we live in a world full of people who could give a shit about rules.
Peter doesn't make the rules of economics. You can only break those rules before the laws of economics come home to roost. It's like trying to defy laws of physics.
@@Nunyabusiness40 That it is a speculative bubble created by misinformed belief that artificial scarcity created in a computer program (which is not scarce) is valuable or desirable. Bitcoin is a government-like entity. I think of it as a license issued by a state.
@@bhe8336 that isn’t even close to accurate. It’s clear that your inaccurate description is just repeating what you’ve heard from precious metal investors, or if you’re on social media then the more often used term for these types, boomers. You clearly need to educate yourself on the technology before this ship sails
19:05 businesses definitely don't want to lower prices. Price decreases are a market effect of competition, not a firm's causal action. Cost improvements are necessary to remain competitive, and even then every 1% change in price has a >1% affect in margin.
I'm from Canada and we had a minimum wage increase to about 14$ an hour about 2 years ago. Some tenure employees that took them years to get to 14$/hour were not happy. Also the company stopped yearly bonuses, changed their pay schedule, no more pension contributions, and are hiring on contract with no benefits.
This was a great interview! Kevin please find more guest like this. You and other RUclipsrs have far far more valuable content than any of the major media in the USA!
Because we're living on borrowed time and it's only a matter of time that the collector will come to collect that which we borrowed. In addition, we're sacrificing tomorrow in exchange for a sedated economy today.
Yup, at some point China won't even need to sell to us; they can sell to themselves in 20 years when their consumers reach higher purchasing power. Then we are truly fucked as Uncle Sam can't borrow anymore to buy Chinese goods
Agreed. Whether Crypto's are a bubble or not, if you got in early, you've made a killing the last decade. it's certainly pulling money away from Gold & Silver & the elites' like that.
What makes bitcoin special? Nothing. You might as well say Peter is wrong about Tesla and buy tesla stock as well. I just found out that bitcoin and tesla price have correlated quite closely. Something like 95%.. and just like bitcoin, if you got in early with tesla, you would have made a killing. However, peter is focused on the fundamentals, not the sticker price.
@@Jimraynor45 nah you just don’t understand the value proposition. Listen to Michael Saylor from Micro-strategy talk about why he’s buying billions of dollars worth. Crypto will become the future of money, you can’t stop technological progress. It is inevitable.
@@sivi9741 Of course the private sector is better. Just look at history and the evidence! Look at the difference between the United States and Russia. How many inventions has Russia had vs. the U.S.? The television, Telephone, AIRPLANES, Light Bulb, Assembly Line, the Internet itself! Don't mention the superior products! I watched a Documentary on living in coldest places, like Russia, and was surprised to see like 1-3 AMERICAN products in this remote poor & simple household, like Gillette Razors. You know how many Russian Products are in typical American households? ZERO. It's simply a FACT that PEOPLE are innovative and create Wealth, NOT government. It's also a FACT people respond to and adjust their behavior according to incentives. The sooner people recognize this the better off the world will be.
@@somehacker9031 Why the US have a trade deficit for years ? Yeah private sector is so great and care so much for Americans they took all the jobs and send it to communist China to make thing cheaper . Than people ask themselves why we have such poor manufacturing jobs and not much money ...zzzzz Yeah China is like Russian communist and look what they created now .Oops . You have a bias look at the world . Ps: it ain’t the US government that send the job overseas , it’s the corporations ... The government intervened more and more because of the wealth gap reached unsustainable level of the 1930 ... If the rich and private sector would of fine their job and make sure the economy I’m working not just for a few , government would of been less present ...
@@somehacker9031 Coincidence the 15 poorest states in the country , 13/14 are red states where government his seem as bad and so ask the least from it ? It’s all fine if it’s ok for them , but at least they should stop complain and deducing non sense about government being the sources of all their problems ... They should for once trust ...facts too ! A lot of country with lot of government intervention are doing great . Nuances are needed for some situated on a certain side of the political spectrum .. If guns aren’t bad because it’s all about the people using it . It is certainly the same thing with the government....
@@sivi9741 Countries are like People, meaning they make MISTAKES. This includes the United States. If the U.S. followed its own original plan, the Constitution, then its people would be free and prosperous. Even with Mistakes the U.S. is STILL far, far better than many other countries. People literally DIE to get IN. That's why people like Peter Schiff (and his late father, Irwin Schiff) work hard to CORRECT mistakes we make as a country.
From 1955 - 1981 the min wage was raised 12 times from 75 cents to $3.35 (347%). During that 26 year timespan teens jobs increased 140% and 20-24 jobs increased 190%. From 1981 - 2019 the min wage was raised 7 times from $3.35 to $7.25 (116%). During that 38 year timespan teen jobs decreased 30% and 20-24 jobs declined 6%. If we want to create more youth employment, raising the min wage more often and by larger amounts seems to be the thing to do.
@@bluenami7520 If you raise the minimum wage above the equilibrium price for labor, you destroy jobs. This is a fact. Your statistics about frequency of minimum wage hikes says nothing about the equilibrium price for labor during those hikes. You have essentially proved nothing at all.
Regarding price increases or decreases versus money inflation or deflation, I believe there are essentially three categories of products and services which behave slightly different. 1) There are those that have benefited from a real technological or scientific progress, like the TV example. 2) There are those that haven't but were replaced by cheaper materials like a window frame going from high quality wood to aluminium to plastics. 3) There are those called valuables which cannot be substituted because at the core have to be made of the genuine stuff like a rare hardwood piece of furniture or high quality gold jewelry. The money inflation and deflation act differently on these three categories. 1) Is mostly going down or is constant in price at a certain moment in time. 2) Can act like category 1 but with the distinction that the consumer suffers a clear degradation in quality or longevity of the product, or the experience provided by the product or service. 3) The price increase is often observed without any doubt. So I think CPI is a very weak metric for measuring price increases or decreases. It allows many to argue that there is no inflation but this statement is meaningless as a general statement. So now-a-days with massive money printing and distribution it is going to become a very messy and confusing social debate. I believe the politicians are going to get away with massive money printing because most of the people simply don't understand what's going on. In a communist/socialist society from 40 years ago things weren't that crystal clear as we would envision it in the west 40 years later. Not all people had an awareness of the issues at the macro scale. Many were bitching that they have nothing to eat while enjoying "la dolce vita" of a manufacturing job in one of those soviet-like industrial complexes. The same person would behave totally different after running away and starting a new life in the capitalistic west. In 2021, what fraction of USA population is at the core really different from 40 years ago soviet citizens? Maybe free markets and capitalism die with the people, not when dictated by corrupt leaders.
The Keynesians believe in something called the phillips curve. According to the Phillips curve if you have high unemployment. By default it is deflationary as there is less jobs / money to spend on discretionary items. So deflation which this would put downward pressure on prices. But since they do not account for all the money printing and pretend that money printing does not produce price inflation. This is contradicting that Phillips curve as prices are very much on the rise as we have massive unemployment and very low labor participation. Stagflation contradicts their Phillips curve model.
I love listening to you Peter. I think the beginning of this video is probably the best description of explaining why stimulus’s are so bad. Thanks Peter!!
@@bluenami7520 no, before the 80's the definition of inflation was an increase in money supply. Maneco64 did a video on it showing old dictionaries and their definition of inflation.
The reason health care is expensive is due to mostly the requirement to treat those that are uninsured. That cost has to be born by someone. The other problem is the government regulation of the professions. The uninsured don't have the option of going to a bad doctor that they could afford. Also the requirement to get a prescription to get certain medications is a problem. I know what drugs I need without seeing my doctor 95% of the time.
Government oversight has caused a great deal of waste in the hospital. I do not believe the average hospital employee would knowingly endanger patients if the government were to back off its oversight. Most go into the profession to heal.
here in Singapore, education and healthcare are pretty heavily subsidized by the government. The quality is pretty good too, so I don't buy that free-market will improve the quality and reduce the price of healthcare/education.
@@carademarcus i see you in all the comments here: I know you’ve get a kick by inserting your comments to counter what everyone is saying here. Why no debate with Peter? That will get your message across rather than replying to every comment here.
I don't necessarily need these stimulus checks. But I still want them, just because I get nothing good from the Govt regardless. So I will just take that bag of money and store it away or use it to better myself. IDC about these antiquated libertarian principles.
@@huemann7637 buying some industrial and residential REITs. Can't afford my own property yet. I do however have physical gold which I lost in a boating accident recently.
All the Austrian economists agree with Peter about these things; Peter is just the most convincing and entertaining to listen to. Listening to most of the Austrian economists-or any economist, really-would put you to sleep after about ten minutes.
Peter Schiff is an inspiration to me. If someone who has been wrong every single day for 12 years (and missed the greatest gains ever in finance) can make money selling advice... anyone can! :P
Wrong? He was correct in gold going up, emerging markets going up, the fed not being able to raise rates, the dollar going down, massive printing/never ending quantitative easing, exploding debt. He misjudged how long they can keep kicking the can down the road, but correct in that fundamentally it's the wrong thing to do and consequences will be worse for it.
Stimulus cheques are the government making you take out a loan which you'll repay through inflation. Remember governments don't support people (though they say it all the time), people support governments and through taxes. All governments can do is spend taxpayer money, government's have no money to give.
![Blox Fruits Dragon Rework Update [Full Stream]](http://i.ytimg.com/vi/EqDAp8udhm0/mqdefault.jpg)
I recognize this guy!
your cancelled buddy.
how dare you go against the grain.
@@stewmeat9261 Cancel everything!
When’s part 2 coming?
But wait, isn't Kevin a Keynesian 😯
Did you get educated by Peter Schiff?
"A friend with weed is a friend indeed, but a friend with gold is the best I'm told" - Leprechaun
Make it rhyme with platinum.
I got both lol
A friend with weed is a lot of fun,
But the one that beats it is the one with platinum.
We get drug tested at work so I will have none. 🇺🇸🥇
@@stoundingresults nice
A friend with weed is a friend in need ...
Peter Schiff is a genius, as was his father RIP. True patriots. I have a tremendous amount of respect for these men who speak against the popular narrative.
Peter’s descriptions are phenomenal - thank you Peter!
He's the best in the business 👌
I think Peter is pretty much right on everything long term. With all these tricks, manipulation, smoke and mirrors stuff going on it’s taking longer for his predictions to come true.
Lol really how so it’s been 11 years how much longer do we have to wait
@@carademarcus A few lifetimes ought to cover it.
@@carademarcus He predicted the Mortgage Crisis & the 07-08 Financial Crisis and was mocked while making the prediction and after being proved correct. Everyone wants a time stamp... who knows how long the scam will go on with super low interest rates & endless supply of money. But if you don't believe Peter believe the World Economic Forum's Great Reset, "You Will Own Nothing and Be Happy".
@@youtubedick-tators1991 I will own Bitcoin and be happy
Shame he has such a close minded view on bitcoin :/
Peter never speaks from notes, he keeps it all organized in his head.
@Log Splitta Came here to say this
Peter's clarity of thought and logic cuts like hot knife through butter.
And also through your 401k.
mmmmm.......not in everything
Except with crypto his pride has gotten the best of him
Because he knows what he's talking about
@@tylerwinkle323 you can lead a horse to water but you cant make them drink. Either you get it, or you dont.
This was a great interview. Kevin asked a lot of good questions and I think Peter always does better with a foil or someone to challenge him a little.
Yes, a great interview by both parties.
Peter is the man. Listen to his podcasts/blogs and you'll learn more than any college Econ curriculum will ever teach you.
There is nothing that he says that is wrong it's all common sense he just says it so well this is the President we need
What's the name of his podcast btw? Think I'll check it out actually
@@animaxindustries Peter Schiff show
“Apart from it just defying common sense and all the laws of economics -“ this one killed me! 13:34
*_Any economic principles built on debt and deception is bound to perish._*
Peter makes some very valid points! I have never heard someone have these type of perspectives, I kind a like it
Look into former Senator Ron Paul. Mike Maloney is brilliant, as well. Mike Maloney is very funny vs Peter here
@@LatimusChadimus Also, Mises Institute and all the Austrian Economists.
@@LatimusChadimus And also look into George Gammon, J Bravo, Robert Kiyosaki, McAlvany Financial, and The Money GPS too. They are very knowledgeable, great economic guys as well. I watch all these guys plus the ones already mentioned and you'll get wide variety of valuable information to see the whole game for what it is.
Welcome to the club =)
Listen to Milton Friedman and the Austrian school. They’ve been preaching the laws of economics way before charlatans took the reigns
Money printer go Brrr.
America will not repay its debts.
And Bitcoin goes parabolic.! Then Gold seems to just go down for now as it's still at the mercy of the manipulators
After a tour of the Fed, I visited the gift shop and got my own copy of MS MoneyPrint.
@@texresident7026 Has it come to that? I had no idea things were so serious. I hope you at least get a tax rebate for printing on their behalf? 🎈
@@carnivaltym I better get a rebate!! Especially considering the price of those ink cartridges (heh, heh)
If you’re being run out of town, get to the front and pretend you’re leading the parade. Where does he get these saying from
Petey is the king of analogies, that’s what makes him such a great teacher
@@Papa-tn3vn he needs to write a book with them all in it , they’re hilarious
Growing up without memes, you were forced to memorize phrases, and phone numbers 😆😆
Paul's Health & Fitness Some are funny and some are very serious but represent the perfect way to describe something, for instance he used the analogy of the “heroin addict” a perfectly describe the economy, the fact that we have to go through some painful withdrawal just like a real heroin attic but that will survive, versus keep taking the drugs and then have a fatal overdose!
He used to do stand up comedy, never watched but heard he's like George carlin.
I started working with my dad in middle school as a mechanic it wasn’t till well after high school I started getting good checks but at that point I was also able to run a shop on my own. my pops past away in 2018 so now I’m a self employed small business owner.
You’re awesome
Nice to see Meet Kevin doing collaborations like this.
He did with the Robinhood CEO too.
He's a lightweight that believes in keynesian economics so good to see him get educated.
Never thought I would see these two dudes taking it out. Brilliant wisdom Peter .
Love this channel. You're super smart. You gave me the confidence to actually invest.
I hope Mr. Schiff reaches a new audience today. His arguments and austrian economics should be common knowledge. Even if you disagree everybody needs to hear it.
Amazing lesson in capitalism. This should be shown in economics class
@Slow Decay Yes, I took one. I don't understand your comment though. Did you mean it is already? I would disagree with that.
@Slow Decay Have you ever seen a college? My teacher never even heard of austrian econ until I told her lol.
@@austinbyrd4164 That’s because they get spoon-fed the crap from guys like Krugman.
This is one of the better interviews Schiff has given recently.
Amazing how accurately Peter called this. This is why people need to stop watching the news and treating it as gospel.
Kevin used Peter to stealthily tell his stimulus viewers the truth. Wise man.
Peter of course is 100% correct but his timing is always crappy but my biggest issue is why not talk about the limitation we have on the number of suppliers? That is never talked about.
It's always been stimulus checks are bad but stimulus cks are only 15% of the whole stimulus package where's the rest of the money going? I just find the whole concept of focusing on the individual getting stimulus versus the 85% that was given out to the rich or zombie companies is okay or it's bad but whatever. It's okay for large companies to take advantage of all the shutdowns. They're giving a gift and it's bad to tax them because they're free market. they're not free market their crony capitalists
Yeah but 99% didn’t hear the message. The comments section bears this out.
Good to see Kevin getting some quality education on economics.
😆
Too bad it will take 20 years for him to unlearn all that "education".
@@bluenami7520 what Peter was saying was absolutely true. More people should learn how government interventions almost always backfire and make things far worse.
@@tash6638 How do you know it's true? If you are not an expert, how can you judge whether someone else is an expert?
@@bluenami7520 you don’t need to be an expert to recognize someone to be an expert. You can recognize they are an expert by examining their arguments and logic presented against counter arguments and presenting a logical thesis with well thought out factual points to support it. Stop trying to act more intelligent than you are by regurgitating something you’ve seen someone else say.
Taxes are so crazy. Tax the business when it receives revenue, tax the employee when they get paid, tax the consumer when they spend. Its this circle of unending tax constantly taking value out of the wealth creation of everyone.
Taxes are wages to other people. The pentagon is the largest employer and all of them are paid by taxing someone else.
@@bluenami7520 $21 Trillion is unaccounted for from the Pentagon's budget. $2.3 Trillion was also unaccounted for right before 9/11 hit the Pentagon. The govt is the best at corruption, thievery, incompetence, wasteful spending.
@@youtubedick-tators1991 The gov is controlled by corporations, so if you don't like something about the gov, then blame big business.
That's what happens when you want the biggest military of the next ten countries. I would chop the military by 75%. Update our nukes and more drones. Less people people are expensive long-term. And that's just for starters. It's the only way out. And I don't mean just the military I mean that's just the start
Yup, then it gets spent on blowing up brown people in the Middle East for oil while propagating the next generation of retaliation through collateral damage. It’s effed beyond belief
"Inflation hasn't come yet"
How can you not see inflation in California? I really wanna know!
Street drugs still affordable. Property taxes....eh. Charles, we are all in this together!
Umm California is one state
There’s inflation in all of our California grocery stores, I’ve seen it
He's talking about crippling inflation. Which is on its way. Gold and silver. Governments can ban Bitcoin so I don't believe it's safe.
@@TheBandit7613 yes! I thought I was the only one bringing up this point. Bitcoin folks just argue with me...
I enjoyed the well thought-out questions here. Great interview.
Wow kudos to Kevin( a huge critic of Peter) for having the 🏉🏈🏐🏀🏀 to invite him. Sweet interview.
Maybe he'll finally learn the true value of these undervalued metals
@@LatimusChadimus U will make money on any metal (commodity) over the next (at a minimum) ten years.
Cobalt anyone?
Reverend Schiff. Preaching the word. Hallelujah!
Sounds more like a cult then financial advise
@@carademarcus the TRUTH is unaccepting of "alternatives" which is why Schiff sounds so like a preacher.
@@carademarcus :-D Are you referencing the ideology of a free market system?
Your ideas are correct Peter, in a world that follows the rules. The problem is that we live in a world full of people who could give a shit about rules.
Peter doesn't make the rules of economics. You can only break those rules before the laws of economics come home to roost. It's like trying to defy laws of physics.
And those that make the rules work for them, and creates loopholes and cheat-code wording to further keep playing games
@@James-il3tq what do those rules of economics say about Bitcoin
@@Nunyabusiness40 That it is a speculative bubble created by misinformed belief that artificial scarcity created in a computer program (which is not scarce) is valuable or desirable. Bitcoin is a government-like entity. I think of it as a license issued by a state.
@@bhe8336 that isn’t even close to accurate. It’s clear that your inaccurate description is just repeating what you’ve heard from precious metal investors, or if you’re on social media then the more often used term for these types, boomers. You clearly need to educate yourself on the technology before this ship sails
"We become serfs in our own country," There's the rub.
Fantastic interview, thank you 🙏🏾🙏🏾👏🏾👏🏾👏🏾💃🏾💃🏾🏋🏾♂️🏋🏾♂️
After talking with Peter Schiff Kevin now has an account with Sciff Gold and stacks silver and gold like a BOSS...
This is one of the best interviews with Schiff. Interviewer was smart and controlled the conversation with his sequence of topics and cadence.
How does Kevin have time to do everything that he does?! Seriously, the guy is a workaholic maniac.
The man literally drinks coke. 😝
Disinfo agent paid to be a shill and interview fellow shills by the New World Order.
I have no idea who this guy is.
I love Kevin’s enthusiasm and content but I hope for his sake he’s giving his family the time and attention they need also.
@@bjkearns2 He uploaded ANOTHER video just as you posted your comment. Incredible.
19:05 businesses definitely don't want to lower prices. Price decreases are a market effect of competition, not a firm's causal action. Cost improvements are necessary to remain competitive, and even then every 1% change in price has a >1% affect in margin.
Excellent video, Mr. Schiff.
Great video of explanation. Thank you Peter!
Teaching at it's best!
Teaching what?
I'm from Canada and we had a minimum wage increase to about 14$ an hour about 2 years ago. Some tenure employees that took them years to get to 14$/hour were not happy. Also the company stopped yearly bonuses, changed their pay schedule, no more pension contributions, and are hiring on contract with no benefits.
Hes right but most, remember the gamestonk mantra "We can remain rtarded longer than you can remain solvent"- but I think too bearish no bitcoin
What a boss. I became a fan after your occupy video. That took brass balls to do what you did. I learned so much from that.
Peter's bread and butter here
This was a great interview! Kevin please find more guest like this. You and other RUclipsrs have far far more valuable content than any of the major media in the USA!
Peter Schiff rocks !
Great videos I've learned so much from Meet Kevin and Peter Schiff
Because we're living on borrowed time and it's only a matter of time that the collector will come to collect that which we borrowed. In addition, we're sacrificing tomorrow in exchange for a sedated economy today.
Yup, at some point China won't even need to sell to us; they can sell to themselves in 20 years when their consumers reach higher purchasing power. Then we are truly fucked as Uncle Sam can't borrow anymore to buy Chinese goods
I just made a video closing this clown
Well said
I’m so glad Kevin got schooled FINALLY! Thanks Peter. Keep on Keepin’ on! Kudos to you Kevin for wanting to talk to Peter.
When Peter doesn’t talk about BTC he’s just brilliant.
You took the words from my mouth.
Agreed. Whether Crypto's are a bubble or not, if you got in early, you've made a killing the last decade. it's certainly pulling money away from Gold & Silver & the elites' like that.
What makes bitcoin special? Nothing. You might as well say Peter is wrong about Tesla and buy tesla stock as well. I just found out that bitcoin and tesla price have correlated quite closely. Something like 95%.. and just like bitcoin, if you got in early with tesla, you would have made a killing. However, peter is focused on the fundamentals, not the sticker price.
@@Jimraynor45 nah you just don’t understand the value proposition. Listen to Michael Saylor from Micro-strategy talk about why he’s buying billions of dollars worth. Crypto will become the future of money, you can’t stop technological progress. It is inevitable.
@Lordeverfall100 well yes when you get to a certain point you get to use OTHER people's money for investments, and just take a % lol
Peter Schiff for President!!!
PERFECT Explanation of Minimum Wage! Also, absurdity of Government being wiser spender of someone's money than them.
But the private sector is better?
Lol ....
@@sivi9741 Of course the private sector is better. Just look at history and the evidence! Look at the difference between the United States and Russia. How many inventions has Russia had vs. the U.S.? The television, Telephone, AIRPLANES, Light Bulb, Assembly Line, the Internet itself! Don't mention the superior products! I watched a Documentary on living in coldest places, like Russia, and was surprised to see like 1-3 AMERICAN products in this remote poor & simple household, like Gillette Razors. You know how many Russian Products are in typical American households? ZERO. It's simply a FACT that PEOPLE are innovative and create Wealth, NOT government. It's also a FACT people respond to and adjust their behavior according to incentives. The sooner people recognize this the better off the world will be.
@@somehacker9031
Why the US have a trade deficit for years ?
Yeah private sector is so great and care so much for Americans they took all the jobs and send it to communist China to make thing cheaper .
Than people ask themselves why we have such poor manufacturing jobs and not much money ...zzzzz
Yeah China is like Russian communist and look what they created now .Oops .
You have a bias look at the world .
Ps: it ain’t the US government that send the job overseas , it’s the corporations ...
The government intervened more and more because of the wealth gap reached unsustainable level of the 1930 ...
If the rich and private sector would of fine their job and make sure the economy I’m working not just for a few , government would of been less present ...
@@somehacker9031
Coincidence the 15 poorest states in the country , 13/14 are red states where government his seem as bad and so ask the least from it ?
It’s all fine if it’s ok for them , but at least they should stop complain and deducing non sense about government being the sources of all their problems ...
They should for once trust ...facts too !
A lot of country with lot of government intervention are doing great .
Nuances are needed for some situated on a certain side of the political spectrum ..
If guns aren’t bad because it’s all about the people using it .
It is certainly the same thing with the government....
@@sivi9741 Countries are like People, meaning they make MISTAKES. This includes the United States. If the U.S. followed its own original plan, the Constitution, then its people would be free and prosperous. Even with Mistakes the U.S. is STILL far, far better than many other countries. People literally DIE to get IN. That's why people like Peter Schiff (and his late father, Irwin Schiff) work hard to CORRECT mistakes we make as a country.
Peter Shiff is one off the Best thanks Peter
People who argue for minimum wages doesn't understand economics.
Never met an economist who wants an increased min wage
@@johnmaki6821 never met an old fat person who wanted to be a high jumper either..;-)
It’s a joy to listen to Peter on economics. He does not just give doom and gloom economic but also explain intricately why it happen.
Look into the origin of the minimum wage. Just as cruel as the origin of marriage licenses
From 1955 - 1981 the min wage was raised 12 times from 75 cents to $3.35 (347%). During that 26 year timespan teens jobs increased 140% and 20-24 jobs increased 190%. From 1981 - 2019 the min wage was raised 7 times from $3.35 to $7.25 (116%). During that 38 year timespan teen jobs decreased 30% and 20-24 jobs declined 6%.
If we want to create more youth employment, raising the min wage more often and by larger amounts seems to be the thing to do.
@James East No, it isn't needed ever.
@@bluenami7520 If you raise the minimum wage above the equilibrium price for labor, you destroy jobs. This is a fact. Your statistics about frequency of minimum wage hikes says nothing about the equilibrium price for labor during those hikes. You have essentially proved nothing at all.
@@jimlovesgina 64 years of data refutes your "facts".
@@jimlovesgina it is needed when you live in a system with no social net.
Personally UBI would be much better than minimum wages tho .
I can´t believe how i could miss Peter Schiff for so long !
I like Schiff when he doesn't talk about bitcoin.
Love Peter but he needs to take a knee on Bitcoin 🤣
Everything he says about bitcoin is spot on!
@@matthewtownsend3567 Like that it would never reach 50k?
@@Klatubarada1979 what's it's real value?
@@matthewtownsend3567 More than Peter has it valued at, that's for sure.
Regarding price increases or decreases versus money inflation or deflation, I believe there are essentially three categories of products and services which behave slightly different. 1) There are those that have benefited from a real technological or scientific progress, like the TV example. 2) There are those that haven't but were replaced by cheaper materials like a window frame going from high quality wood to aluminium to plastics. 3) There are those called valuables which cannot be substituted because at the core have to be made of the genuine stuff like a rare hardwood piece of furniture or high quality gold jewelry. The money inflation and deflation act differently on these three categories. 1) Is mostly going down or is constant in price at a certain moment in time. 2) Can act like category 1 but with the distinction that the consumer suffers a clear degradation in quality or longevity of the product, or the experience provided by the product or service. 3) The price increase is often observed without any doubt. So I think CPI is a very weak metric for measuring price increases or decreases. It allows many to argue that there is no inflation but this statement is meaningless as a general statement. So now-a-days with massive money printing and distribution it is going to become a very messy and confusing social debate. I believe the politicians are going to get away with massive money printing because most of the people simply don't understand what's going on. In a communist/socialist society from 40 years ago things weren't that crystal clear as we would envision it in the west 40 years later. Not all people had an awareness of the issues at the macro scale. Many were bitching that they have nothing to eat while enjoying "la dolce vita" of a manufacturing job in one of those soviet-like industrial complexes. The same person would behave totally different after running away and starting a new life in the capitalistic west. In 2021, what fraction of USA population is at the core really different from 40 years ago soviet citizens? Maybe free markets and capitalism die with the people, not when dictated by corrupt leaders.
You can’t shaft the Schiff. wish I understood anything as much as Peter understands the system
Wow. Peter nailed it ! He is cristal clear with a good compassionate tone.
Peter you've stated before that Keynesian Economics states that Stagflation doesn't exist. Can you explain this in the next podcast?
The Keynesians believe in something called the phillips curve. According to the Phillips curve if you have high unemployment. By default it is deflationary as there is less jobs / money to spend on discretionary items. So deflation which this would put downward pressure on prices. But since they do not account for all the money printing and pretend that money printing does not produce price inflation. This is contradicting that Phillips curve as prices are very much on the rise as we have massive unemployment and very low labor participation. Stagflation contradicts their Phillips curve model.
As always Peter makes a lot of Sense!👍
Is this why minimum wage jobs and entry level jobs are asking for an insane amount of experience now?
I love listening to you Peter. I think the beginning of this video is probably the best description of explaining why stimulus’s are so bad. Thanks Peter!!
Never say "inflation" to Peter when you mean price increases, or else you'll hear about the Webster dictionary.
that is not even a joke
Every dictionary, economics book, economics website on earth is wrong and Peter is right because he said so.
@@bluenami7520 no, before the 80's the definition of inflation was an increase in money supply. Maneco64 did a video on it showing old dictionaries and their definition of inflation.
@@st.raphaeljack751 Peter found a dictionary from a century ago. Other than that, it's him vs the world.
@@bluenami7520oh, you where just being toxic and not trying to understand out present situation! Sorry I misunderstood you
Great interview Kevin! I’ve been following Schiff for years. I share a lot of his views.
The reason health care is expensive is due to mostly the requirement to treat those that are uninsured. That cost has to be born by someone. The other problem is the government regulation of the professions. The uninsured don't have the option of going to a bad doctor that they could afford. Also the requirement to get a prescription to get certain medications is a problem. I know what drugs I need without seeing my doctor 95% of the time.
Government oversight has caused a great deal of waste in the hospital. I do not believe the average hospital employee would knowingly endanger patients if the government were to back off its oversight. Most go into the profession to heal.
One of your best interviews in my opinion, shows just how important an intelligent and actually impartial host is!
Schiff knows his Schitt 🤜🏻🤛🏼
So much goodness in this interview... nice work guys.
here in Singapore, education and healthcare are pretty heavily subsidized by the government. The quality is pretty good too, so I don't buy that free-market will improve the quality and reduce the price of healthcare/education.
PETER Can you chat with Greg Mannarino pls !!!
Schiff has one of the best shows on the internet and he says the same things over and over again. lol Humans are so screwed.
Isn’t saying the same thing over again propaganda?
@@carademarcus I'd call it common sense.
@@rssven1827 common sense isnt all that common
@@carademarcus i see you in all the comments here: I know you’ve get a kick by inserting your comments to counter what everyone is saying here. Why no debate with Peter? That will get your message across rather than replying to every comment here.
@@singaporeghostclub are you their superhero or something? why do you care what i do in the comments?
Good on ya Kevin! Peter is an absolute Legend!
Stock up on food if you have no assets, stuff is going to go down pretty nasty anytime soon..
Two of my favorites doing economic video together, awesome. Hope you guys do more.
I don't necessarily need these stimulus checks. But I still want them, just because I get nothing good from the Govt regardless. So I will just take that bag of money and store it away or use it to better myself. IDC about these antiquated libertarian principles.
WE are living beyond our means? No the government is living beyond their means.
Buying gold and real estate. Scary times are ahead.
Real estate?
I have been buying physical Silver. As much as possible.
If you’re talking agricultural land then yes real estate. If you’re talking rental properties then hell no! Lol
@@huemann7637 buying some industrial and residential REITs. Can't afford my own property yet. I do however have physical gold which I lost in a boating accident recently.
Have fun staying poor
I really hope I get to meet Peter Schiff in person one day
Make Peter Schiff your finance minister!
Janet is a joke.
21:00 We're already seeing this in rising commodity prices. I think Peter addressed this in a previous video, as well.
$1400 Stimulus=2 Rolls of American Silver Eagles. BUY PHYSICAL SILVER!!!
That's what I'll be doing with $1400, I LOVE Silver🥈!!!
There need to be a balance between social needs and economic requirements. Pure on either will kill the country.
Peter just blew Kevin's leftist, Keynesian brain up 😂😂😂
All the Austrian economists agree with Peter about these things; Peter is just the most convincing and entertaining to listen to. Listening to most of the Austrian economists-or any economist, really-would put you to sleep after about ten minutes.
Peter Schiff is an inspiration to me. If someone who has been wrong every single day for 12 years (and missed the greatest gains ever in finance) can make money selling advice... anyone can! :P
Wrong? He was correct in gold going up, emerging markets going up, the fed not being able to raise rates, the dollar going down, massive printing/never ending quantitative easing, exploding debt. He misjudged how long they can keep kicking the can down the road, but correct in that fundamentally it's the wrong thing to do and consequences will be worse for it.
I am truly impressed with what Kevin's been able to do over the years. Too cool!!
👍
The Man,The story...... and the people who haven't got a clue.
Thanks Peter and interviewer for another great one.
People are under the impression they're owed a living. You ain't owed anything in the end.
You are.
Nice work 🎇🎆🌠
Whoops Kevin just realized something 😂
Excellent
Stimulus Checks are bad??
Thank you Peter! I'm going to Cancel them!!
Stimulus cheques are the government making you take out a loan which you'll repay through inflation. Remember governments don't support people (though they say it all the time), people support governments and through taxes. All governments can do is spend taxpayer money, government's have no money to give.
Take them to buy silver and gold
Love this crossover, Kevin and Pete are both great.
They are like a teenager with a credit card
Very good
Bidung says if Momma votes blue we gonna get a washin' machine and a Chevrolet!!!!
Somebody told us wall street fell, but we was so poor we couldn't tell
Don't forget every boy gets a new computer and every girl gets a new wardrobe. Yeah, and every dog gets a new house.
@@hsingholee1058 gender neutral pronouns only. We are now in the statist Twilight zone.
@@bryantphillips930 🎶we all got Obama phones but we nevah got rich!🎶🦄
10:23 I love Kevin's response to Peter. Preach it Peter!