He has a talent for explaining complex finance topics in a simple and humorous way. His name came up in another thread, here is one of his classic moments...
Peter Schiff is great, man. Him, Jim Rogers, and Marc Faber are all great and should be listened to by anyone interested in the financial markets and the world economy. They're willing to speak the truth and go against the establishment unlike most of the presstitute media whores. In fact, part of the reason I'm awake is because of the three I just mentioned. They all agree that Europe and the U.S. will implode economically; all three are Libertarians; and all three encourage Americans to leave the U.S. for other countries; Marc Faber lives in Thailand, Jim Rogers moved to Singapore from New York because he wanted his daughter to be fluent in Chinese and to take advantage of the booming Asian economies, and Peter Schiff is always telling investors to invest OUT OF THE U.S., and into foreign markets in South America and Asia. He also encourages expatriation out of the United States!
Peter Schiff's father is Irwin. an activist and anti-IRS author who for decades traveled across the U.S. opposing the federal income tax and encouraging people not to pay it before eventually being charged with (I think) tax evasion and receiving a long prison term at an advanced age. Peter works within the system but is still outside of it because he dares to utter common sense views.
Mon May 14, 2012 9:00 am
djfourmoney
Joined: 16 Oct 2010
Posts: 2045
Location: Los Angeles
Huh? His common sense is limited. He rails against the "Government" constantly and against European Social Services and "strong" Unions. He's a Libertarian and the only reason his views have come to the fore is because the CENTER is largely doing NOTHING about the Financial Crisis.
Example -
Greece elected people from the Far Left and the Far Right.
Far Right makes no sense and it doesn't matter which country, they all say immigrants GO HOME and that will create need for nationals to fill those jobs.
Sound familiar? White People in the US = Mexicans Go Home/We need a high fence.
Greeks in Greece, Africans and Arabs go home.
Right should mean, anything that's "Other" is not welcome when economies FAIL.
Right wings come to power when the Center fails to handle a problem, usually around money. WW1 and WW2 come to mind....
For every two things Peter says right, he says Four things WRONG.
Mon May 14, 2012 9:13 am
FreeYourMind
Joined: 27 Jul 2010
Posts: 293
"Right wing" and "left wing" are meaningless terms used to pigeon hole people into fossilized and ineffective viewpoints and ways of thinking, much like "liberal" and "conservative". Is Obama a "left winger"? Not hardly, he's a 100% supporter of the status quo. Is Romney a "right winger"? He's nothing but a supporter of the status quo. They are two peas in a pod, the front men of what is in reality a one party system with two wings. But people are conditioned by the media to be afraid of any alternative that presents itself and begins to achieve influence. Just throw out the word "racist" and any "right wing" group is finished; throw out "socialist" or "communist" and any "left wing" group is finished. Until that form of conditioned labeling is recognized and rejected the status quo will continue to win.
Mon May 14, 2012 9:50 am
ph_visitor
Joined: 20 Jan 2012
Posts: 280
The Center is doing nothing because the Center CANNOT do anything. More gov't is not the solution. Better programs, smarter ideas, are not the solution.
This problem is baked in to the human brain.
It's happened over and over for the past 12,000 years, it's nothing new, and nothing can be done to stop it. China, Rome, Greece, Egypt, Europe, Atzecs, Mayans, Russians, Europeans, Americans, Canadians everyone does it.
The only choice is for everyone to realise this is how we (humans) are and that choosing more government control over our lives is not the solution when these predictable and inevitable crises happen every human lifespan.
So many people have ZERO financial education, fiscal education, monetary education, economic education and most importantly Historical Financial Education, that it's far less than o.1% of all people who even the vaguest clue.
Mon May 14, 2012 9:54 am
sushiman
Joined: 21 Mar 2011
Posts: 277
Location: Seoul
Schiff's financial analysis seems solid to me.
He's a finance guy and a very clear communicator: if you get a credit card, and you borrow all you can borrow, and you spend all of it on nike shoes and cheeseburgers, you can't ever repay the credit card (because you didn't invest it, you just blew it). So you borrow some more money, and you use that money to pay the interest on both the old and new credit cards.
Eventually everyone finds out the scam and it ends, badly.
Mon May 14, 2012 10:01 am
djfourmoney
Joined: 16 Oct 2010
Posts: 2045
Location: Los Angeles
FreeYourMind wrote:
"Right wing" and "left wing" are meaningless terms used to pigeon hole people into fossilized and ineffective viewpoints and ways of thinking, much like "liberal" and "conservative". Is Obama a "left winger"? Not hardly, he's a 100% supporter of the status quo. Is Romney a "right winger"? He's nothing but a supporter of the status quo. They are two peas in a pod, the front men of what is in reality a one party system with two wings. But people are conditioned by the media to be afraid of any alternative that presents itself and begins to achieve influence. Just throw out the word "racist" and any "right wing" group is finished; throw out "socialist" or "communist" and any "left wing" group is finished. Until that form of conditioned labeling is recognized and rejected the status quo will continue to win.
Conditioning? At the party level this is what happens. At the grassroots level, yes I know Conservatives who aren't racist... But this is not what the party largely promotes and they vote for them anyway in most cases, what does that mean?
Mitt and Obama are protectors largely o the status quo because absent is a large social movement. FDR had Communist Movements and Strong Union Labor behind him PUSHING for the social safety net we take for granted largely.
Alternatives are crushing the entire thing and starting over. We can't support the typical Western lifestyle for everybody, we would need two extra planets for that. We need to prevent large scale damage to the Eco-System, for that either means Disorderly and Painful or Orderly and a pinch.
What the "Right" and the "Left" agree on is the banks shouldn't have been bailed out...
Again the problem is the center doesn't know how to solve problems anymore and the extremes get elected, here its the Tea Party....
Mon May 14, 2012 10:11 am
djfourmoney
Joined: 16 Oct 2010
Posts: 2045
Location: Los Angeles
ph_visitor wrote:
The Center is doing nothing because the Center CANNOT do anything. More gov't is not the solution. Better programs, smarter ideas, are not the solution.
This problem is baked in to the human brain.
It's happened over and over for the past 12,000 years, it's nothing new, and nothing can be done to stop it. China, Rome, Greece, Egypt, Europe, Atzecs, Mayans, Russians, Europeans, Americans, Canadians everyone does it.
The only choice is for everyone to realise this is how we (humans) are and that choosing more government control over our lives is not the solution when these predictable and inevitable crises happen every human lifespan.
So many people have ZERO financial education, fiscal education, monetary education, economic education and most importantly Historical Financial Education, that it's far less than o.1% of all people who even the vaguest clue.
That is largely the problems isn't it? Almost nobody understands what happen, but know something is deeply wrong... Powerless to solve the problem? Sort of, the believe in Bank speak = Market Solutions.
Nobody is saying more Government or less, but SMART and that's missing.
Mon May 14, 2012 10:13 am
djfourmoney
Joined: 16 Oct 2010
Posts: 2045
Location: Los Angeles
sushiman wrote:
Schiff's financial analysis seems solid to me.
He's a finance guy and a very clear communicator: if you get a credit card, and you borrow all you can borrow, and you spend all of it on nike shoes and cheeseburgers, you can't ever repay the credit card (because you didn't invest it, you just blew it). So you borrow some more money, and you use that money to pay the interest on both the old and new credit cards.
Eventually everyone finds out the scam and it ends, badly.
People only copied what Governments have done, largely absent from these attacks from people like Schiff is Scandinavia and Germany...
He attacks the Welfare state of France, the job protections are too broad and the safety net too deep. He's against Work+Life balance unless you pay for it yourself with your success. He can kiss my natural Black a** and I've told him so on Twitter....
Mon May 14, 2012 10:17 am
sushiman
Joined: 21 Mar 2011
Posts: 277
Location: Seoul
Haha good man! You might be looking at it from a different angle.
Here's another entertaining video with Peter, the Daily Show...
Joined: 16 Oct 2010
Posts: 2045
Location: Los Angeles
When Peter talks about the bad things Banks and Governments are doing I agree. But then he often goes on a rant about the social safety net and that we can either afford it or not. Why is he worried, above $250,000 he doesn't pay into SSI anyway.
Again he's a Libertarian. I generally agree with Libertarians because they don't like the Drug War and would allow p4p, among other things.
Where I put the brakes on support is this view of modern society through Darwinism...
Mon May 14, 2012 10:48 pm
sushiman
Joined: 21 Mar 2011
Posts: 277
Location: Seoul
Yeah I think he should stick to his profession, finance. His understanding of that and economics seems solid, when he gets off into other theories I don't pay much attention.
Tue May 15, 2012 2:43 am
Taco
Joined: 09 Jul 2011
Posts: 1128
Thanks for posting the videos, I really appreciate it. I often wonder if I'm the only one on this forum that realizes how f***ed the economy is. This is not a problem thats going to improve.
Joined: 16 Oct 2010
Posts: 2045
Location: Los Angeles
The system needs to be blown up... Discussion about automation, technology and robotics needs to come forward, not talk of Eugenics and Over-Population.
Its fairly simple when most things aren't. There is no way these massive debts will be paid back. The banks have to be broken up, the GDP of the Derivatives market is larger than the entire Global GDP.
How is this going to happen? With popular progressive movements, its already started in Europe. The BRICS want their own currency and just fell short of announcing one recently.
You cannot post new topics in this forum You cannot reply to topics in this forum You cannot edit your posts in this forum You cannot delete your posts in this forum You cannot vote in polls in this forum
