What is Digg?218 Comments
- S5S5S5, on 10/12/2008, -2/+116Brilliant speech. He has a clearer understanding of the coming housing crisis 2 years ago than people do today after the fact.
- akkibaba, on 10/12/2008, -1/+85He didn't guess randomly and he didn't predict gloom-and-doom based on a hunch. He presented a well-thought out argument and it turns out that he was right. So it's clear that he deserves more respect than he's being given today.
- cryptomystic, on 10/12/2008, -6/+76This guy is Ron Paul's economic adviser.
http://www.reuters.com/article/pressRelease/idUS25 ... - Super6, on 10/12/2008, -20/+81Ron Paul has been warning Washington of the problems with our economic system few years, but of course he didn't write a letter like Obama or McCain.
- p014k, on 10/12/2008, -13/+72Damn. I thought that said Crysis predicted in detail in 2006.
- jessecrouch, on 10/12/2008, -8/+41Crisis predicted several years before this by Ron Paul and other followers of austrian economics.
A lot of what is going on is pretty simple stuff folks: http://en.wikipedia.org/wiki/Austrian_economics - TheGooseyOne, on 10/12/2008, -1/+29Its scary how dead on he was.
- richmomz, on 10/12/2008, -0/+27Schiff was Paul's economic advisor, so little wonder that they BOTH have been warning about this for years.
- S5S5S5, on 10/12/2008, -0/+25The thing is, he gives specific causes and effects that will lead to the current crisis, that are spot on. I don't think it has anything to do with luck.
- inactive, on 10/12/2008, -3/+25More proof why Ron Paul should be our President.
- scoot87, on 10/12/2008, -1/+23your analogy is like everyone will pick a random number to find out how many jelly beans in a jar will result in a few people being correct. What you don't understand that what he is saying is not a random prediction but an explanation of a process that has come into fruition. So your statement is misguided by associating luck with someone who has used his experience and understanding of economics as a way to explain a phenomena that many did not foresee.
- inactive, on 10/12/2008, -2/+21no 20 years
- pfhayter, on 10/12/2008, -1/+20http://www.youtube.com/user/EPAdmin
The whole series is good. - jessecrouch, on 10/12/2008, -0/+17I don't think saying precious metals have been decimated is very accurate. Gold is holding pretty steady and YTD is up 14%. The Canadian dollar is largely a commodity currency and has been hit hard lately, but is now back on the rise.
- brad3378, on 10/12/2008, -0/+17Billionaire investor Jim Rogers called it years ago too. He wrote about Fannie/Freddie in "The Adventure Capitalist" in 2004 (if I recall correctly)
Coincidentally, he also endorsed Ron Paul. - Parisjune, on 10/12/2008, -3/+19Ron Paul - Peter Schiff 2008!!!
- NeOmega, on 10/12/2008, -21/+37listen to the old man in video 7.. LoL... so wrong on every point. And yeah, there is liquidation deflationary pressure right now on everything, but commodities will come back, once all the bailout money starts pumping into the economy.
- ninetimes, on 10/12/2008, -0/+13Not to be dismissive of this guy, but it's not that incredible that he saw it coming. Lots of people saw this coming. I remember a few economist talking about the dangerous housing bubble back around 2000. What's really scary to think about is I remember them saying, "This bubble should have burst already, and the longer it goes without bursting, the worse it will be when it does burst."
What I really want to know is, did anyone predict the credit default swap problem? Lots of people are saying that the swaps are a bigger problem than the mortgages themselves. - inactive, on 10/12/2008, -2/+15Deflation? Are you kidding me? Does your mom buy your groceries for you or what? I don't know about anyone else, but I think my grocery bill has doubled in the last two years. Here's a little deflation for you - since 01, the price of oil is up over 300% in dollars, but up only 75% in Euros. Gee I wonder if that's an INDICATOR that we're seeing wholesale devaluation of the dollar.
And about ***** ... would you care to explain to me why I'm a ***** for thinking 371 grains of silver is worth more and is more stable than a piece of paper? You're obviously talking out your backside, and should try knowing what you're talking about before running your piehole. Gold and silver coin is Constitutionally mandated, unamended, and a matter of well established foundational law. So the first thing you have to do is explain to me how the banking industry is allowed to flaunt the law, and set up a Monopoly game complete with fake Monopoly money ... while at the same time WE can go to jail for something as simple as failing to pay a state fee.
This has been a money and power grab. No one in Congress the White House or Wall Street has done anything but throw gasoline on the fire. They have just injected almost a trillion fresh new greenbacks into the money supply. You don't think that kind of dilution is going to have an effect? Perhaps you think Ms Pelosi's idea for another 150 billion as a stimulus is anything more than modern day bread and circuses in the modern day Rome.
Which boils down to the real issue - are you going to be one of the terrified deniers who refuses to see the Republic crumbling, or are you going to be one of the brave and strong who can accept the truth and work to save her? - inactive, on 10/12/2008, -2/+14You Saw It Here First; Economic Crash, Banker Stick-Up Predicted Long Ago
While mainstream corporate media lied to Americans claiming economy was strong, we were warning about a “global crash” and a faux solution of “predatory globalism” nearly two years in advance
http://www.prisonplanet.com/you-saw-it-here-first- ...
"Permit me to issue and control the money of a nation, and I care not who makes its laws." -Mayer Amschel Rothschild - richmomz, on 10/12/2008, -1/+12Of course. "They" picked Bernanke, an expert on the Great Depression, to replace Greenspan in 2006. Coincidence?
- cazual, on 10/12/2008, -2/+12A lot of economists said the same things he delivered in his speech. The scary thing about it is that no one in congress listened. If they had listened, then they could have stepped in with regulation before the s**t hit the fan. But now they are moving with speed a day late and a dollar short.
- inactive, on 10/12/2008, -0/+9" Gentlemen, I have had men watching you for a long time and I am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the bank. You tell me that if I take the deposits from the bank and annul its charter, I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves." - Andrew Jackson
Legally, Constitutionally, and Physically, What is a dollar? Watch and learn!
http://www.youtube.com/watch?v=1FiaUpeJxcA
http://www.youtube.com/watch?v=FbyQB8e-rQg
Digg Links:
http://digg.com/business_finance/Money_A_Brief_His ...
http://digg.com/business_finance/Money_A_Brief_His ... - inactive, on 10/12/2008, -2/+11well said
- raeshao, on 10/12/2008, -1/+10Watch all of the parts... Schiff is amazing. No need to lie when you're speaking from the heart.
- blakestah, on 10/12/2008, -0/+9I think you need to understand the FACTS in this case.
In early 2005, Sununu Hagel and Dole introduced S190 which placed restraints on some actions by Fannie Mae and Freddie Mac, which were related to this crisis. The committee was majority Republican, and the Senate was majority Republican at the time.
In July 28 2005, the Banking Committee met, and substituted a different bill containing slightly different provisions, effectively ending S190. The substitute was sent to the Senate Floor and never brought up.
In May 2006, John McCain added his name as a co-sponsor and made a floor speech. The only problem was, he co-sponsored S190 - the bill that was already dead.
This was PURE posturing, and had nothing to do with McCain lobbying for regulation to against Fannie Mae and Freddie Mac. As a point of reference, Sununu kept pursuing these regulations and finally passed a lot of them in summer 2008 - in a Democratic Congress.
There was ample time for either party, or both parties, to rein in this crisis from 1999 through 2008 - but neither party acted while it was in power, and both supported the deregulation that led to this mess.
Obama only gets a pass b/c he was not in the Senate until 2006 - and the deregulation was passed years earlier. But his party was very involved in de-regulating before that. - brad3378, on 10/12/2008, -0/+9The people burying you must not know that Peter was Ron's economic adviser.
http://en.wikipedia.org/wiki/Peter_Schiff#Ron_Paul ... - 0zzy, on 10/12/2008, -0/+9They buried you because he was more of a ally than a person who Ron Paul "goes to for economic advise", since Paul already has a strong history in economics and Peter himself says "He doesn't really need me".
- Chieftain, on 10/12/2008, -1/+10I don't know the specifics of Peter Schiff's strategies. I'd be happy to review specific investment suggestions he's made that didn't pan out if you could list a link or cite them somehow. At the very least don't you find him prescient in this matter?
- kingmanic, on 10/12/2008, -0/+9Don't know why everyone dug you down. The Dr. Barry was incorrect in most of his statements. He bought the fairytale that everything was okay. Peter Schiff sounded like what you'd hear from an economist if you tuned into financial news right now.
I think most of the people who dug you down didn't see the other videos and think you are slagging Mr. Schiff. - rowlodge, on 10/12/2008, -3/+11i predicted this too,no one listens.
- vbullinger, on 10/12/2008, -0/+8No. They planned this since 1913.
- tkubic46, on 10/13/2008, -0/+8Ron Paul + Peter Schiff = Save America
- DiscoLando, on 10/12/2008, -1/+9Go go Austrian School! Your day will come, yet.
- trustyteen, on 10/12/2008, -0/+8ehh, i dont think this was really that random or hard to predict. the reason the video is good is because he explains it so well and is entertaining to listen to.
- NewGTGuy, on 10/12/2008, -1/+9I've been following Schiff for about two years. Because of him, I now have no debt and lots of gold and silver.
Check youtube for lots more info on him. Tons of clips from mainstream news ripping him apart for being fear monger. Turns out, he nailed it. - FENWAYFREAK, on 10/12/2008, -1/+9It was predicted in 1999.
"But the government-subsidized corporation[Fannie Mae and Freddie Mac] may run into trouble in an economic downturn, prompting a government rescue similar to that of the savings and loan industry in the 1980's."
http://query.nytimes.com/gst/fullpage.html?res=9C0 ... - stealthc, on 10/13/2008, -0/+7And it's Peter Schiff. Raise your hand if you're surprised. Anyone?
- inactive, on 10/12/2008, -1/+8Yeah, that's why most economists dismiss the Austrian school. It's too simple.
Austrian Economics is essentially based on "common sense" interpretations of economic trends, which is why non-economists can listen to Schiff's talk and understand it, and it makes perfect sense. I'm not an economist at all, I understand everything Schiff said in the entire series (watched all 8).
Other economic schools say that Austrian economics is too simplistic, Austrians would say the others "can't see the forest through the trees." - inactive, on 10/12/2008, -0/+7OMG every pro investor, mutual fund managers, hedge fuds managers, CEOs of investment companies and banks knew about this oncoming crisis. They knew about this housing bubble. What no one knew is that when ***** would hit the fan, how fast would it spread, and when to sell high. I am tired of people be like "Well I said it would happen..."
I knew a year ago market will go down fast when I saw how fast were the prices on housing growing. - temujin2012, on 10/12/2008, -1/+8A lot of people knew what was going to happen, but they saw money in the short-term for them.
- deleo, on 10/12/2008, -1/+8Then you don't want to see what he is predicting for the U.S. economy now, it's much worse. He actually brings up the words "Martial Law".
- inactive, on 10/12/2008, -0/+7He talked more in detail about this in the rest of the series, I think it was part 4 when he spoke in detail about lenders repackaging securities, so they not only didn't care if borrowers lied, but in fact encouraged them to do so.
- MooseOfReason, on 10/13/2008, -1/+8Most obsolete job in the world!
- rheaume, on 10/12/2008, -1/+8Wow running Crysis on a 2006 pc? nice
- AlienMushroom, on 10/12/2008, -5/+12So they planned this since 2006?
- LibertyDigg, on 10/13/2008, -0/+6Peter Schiff is Ron Paul's economic adviser!
Ron Paul Forums
http://www.RonPaulForums.com/ - PGPirate, on 10/12/2008, -1/+7Peter Schiff FTW
Oh wail, no one listened - ByteGuerilla, on 10/12/2008, -1/+7IT'S ALL
PART
OF THE PLAN - odigity, on 10/12/2008, -0/+6@bitterbug: Wow, that's a good point.
You know what I'd do if I were rich (and had no morals)? I'd get together with my rich buddies and try and figure out a way we could convince Congress that the economy is inherently chaotic and unstable, and that we, the brilliant, educated, successful pillars of the financial world should be allowed to help the people by fixing the problems in the market using something called "monetary policy".
Then, once Congress delegates to us this unconstitutional power, we could scientifically engineer crashes so that we could use @bitterbug's trick repeatedly and eventually own all of the country.
But we would need to disguise this institution and it's real purpose. It all starts with clever naming. We should call it Federal something, so people associate it with the government. And maybe put Reserve in there somewhere, to give it a sense of stability and safety. And maybe end it with something like System, make it sound complex and delicate, so that ordinary people won't want to mess with or understand, but just remain confidant that the high priests of finance have this magical device well managed for the general welfare of all.
Yeah... Federal Reserve System... it's gotta nice ring to it. Paul, phone up Nelson. Let's get cracking on this thing. -
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