35 Burst results for "Peter Schiff"

Economist Peter Schiff Predicts Inflation About to Get Much Worse  US Dollar Facing One of Its Worst Years Ever

Bitcoin News

00:32 sec | Last month

Economist Peter Schiff Predicts Inflation About to Get Much Worse US Dollar Facing One of Its Worst Years Ever

"1 a.m. Monday, January 2nd, 2023. Economist Peter Schiff predicts inflation about to get much worse U.S. dollar facing one of its worst years ever. Economist Peter Schiff has predicted that the U.S. dollar will have one of its worst years ever in 2023 warning that the inflation problem is about to get much worse. He also shared his prediction about the worst performing sectors of the stock market this year. Peter ship's 2023 economic predictions economist and gold bug Peter.

Peter Schiff U.S. Peter Ship Peter
Is the U.S. Losing Its Economic Super Powers? Peter Schiff Explains

The Dinesh D'Souza Podcast

01:03 min | Last month

Is the U.S. Losing Its Economic Super Powers? Peter Schiff Explains

"You think the days of the U.S. says the world's sole superpower are ending and we won't really have that kind of influence anymore? Well, I think so. I think certainly as an economic power and industrial power, we've been in the decline for decades now. As a military power, sure, I mean, we really don't have any rivals there. But at some point, we'll lose that as well because we simply won't be able to afford to maintain the military anymore. The reason we can afford it now is because the world is subsidizing us. We've got the dollar as the primary reserve currency. And as a result, the United States is able to borrow really over a $1 trillion a year from the rest of the world in order to maintain its lifestyle and to continue these expenditures. But we are exacting a heavy toll on the world. It's getting more and more expensive every year for the world to support the United States because Americans collectively, we all live beyond our means.

U.S.
How Can the Fed Fight Inflation? Economist Peter Schiff Weighs In

The Dinesh D'Souza Podcast

01:26 min | Last month

How Can the Fed Fight Inflation? Economist Peter Schiff Weighs In

"As long as the government is doing such large spending as long as they're doing that, how can the fed fight inflation by raising interest rates if we continue to keep on spending so much money? Well, they can't unless they raise them a lot more than they have. I mean, interest rates are still much too low. But the problem is that the fed enabled the government to continue to spend and run deficits year after year, decade after decade by monetizing the debt by helping to keep rates artificially low. That is part of the problem. We didn't have a truly independent Central Bank that forced the government to experience the negative consequences of rising budget deficits because had the fed refused to play ball interest rates would have been much, much higher. And it would have been far more costly for the government to finance the deficits, but also it would have been more expensive for a homeowners for businesses. Everybody would have felt the sting of higher interest rates. And so there would have been some political pushback to reduce the deficits to bring down those rates. But because the fed made it easy for the government to keep deficit spending by postponing the pain through the artificial suppression of interest rates, it went on for a lot longer.

FED Government Central Bank
Economist Peter Schiff Talks the 'Tip of the Iceberg' With Inflation

The Dinesh D'Souza Podcast

01:51 min | Last month

Economist Peter Schiff Talks the 'Tip of the Iceberg' With Inflation

"Now the reason that I think we're just seeing the tip of the iceberg here when it comes to price increases is because we have had the most inflationary monetary policy in U.S. history. It got even worse during COVID. I mean, that just took it to a whole new level of absurdity. But even before COVID, QE one, two and three, there was a lot of inflation created. We just created a lot more of it with QE four following the outbreak of COVID. But as a result, there is tremendous inflation already built into the pipeline. And as that inflation entered the economy, a lot of the increases originally showed up in financial assets. So stock prices went up. Real estate prices went up. Bond prices went up. Prices for a lot of things went up. Cryptocurrencies, you know, just one category. But everything kind of went up. And when inflation is causing asset prices to rise, there's generally not a lot of problems. People don't push back because they like that. Oh, I'm getting richer. Now, sure, if you need to buy a house, the house is more expensive. But if you already own the house, you think, well, I'm richer now. My house was worth more. I could take out a home equity loan and buy more stuff. So people like it. And when interest rates are low or asset prices are going up, people are more willing to spend because they think they have greater wealth. So it's initially not objected to. But it should have been. And I was for years warning about the ultimate consequence of this inflation and that we should not be happy just because it starts out in financial assets because it always ends up in consumer goods.

U.S.
Economist Peter Schiff Shares His Inflation Predictions

The Dinesh D'Souza Podcast

01:26 min | Last month

Economist Peter Schiff Shares His Inflation Predictions

"Peter, thanks for joining us. Oh, thanks for having me on your program. Oh my gosh, of course. Well, Peter, you are an expert on our economy. And I know you could talk about this for hours and you're so smart, but I want you to explain some of what's been happening in layman's terms to us. Inflation's been an 8%. Do you see inflation coming down anytime soon? Do you see it getting worse? Do you see it staying the same for a while? What's your prediction there? Well, I think it's going to get a lot worse. I think we're just seeing the tip of the iceberg, but this has been building for a long time. It's not all of a sudden we have inflation. The Federal Reserve has been deliberately pursuing a policy of inflation for more than a decade. When they first launched quantitative easing, that is inflation. The definition of inflation is an expansion of the money supply. That's what's being literally inflated because when you think about prices, prices don't inflate because inflation means to expand. You don't expand a price. Prices can go up. Prices can go down. What's being expanded when there's inflation is the money supply. And it contraction of the money supply is deflation. Now, normally, if you inflate the money supply, the value of money goes down because there's more of it. And now prices respond by going up.

Peter Layman Federal Reserve
BTC Peter Schiff Offers a Christmas Present to Bitcoin HODLers

CryptoGlobe

00:34 sec | Last month

BTC Peter Schiff Offers a Christmas Present to Bitcoin HODLers

"4 p.m. Sunday, December 25th, 2022. BTC Peter Schiff offers a Christmas present to Bitcoin huddles. On December 25th, 2022, gold bug Peter Schiff offered more unsolicited advice which he referred to as a Christmas gift to bitcoiners. Bitcoin perma bear Peter Schiff, who is one of Bitcoin's harshest critics, is the CEO of Europa Pacific capital, a full service, registered broker dealer, specializing in foreign markets and securities. He is also founder and chairman

Peter Schiff Europa Pacific Capital Bitcoin
MicroStrategy once again buys the dip as BTC is back above $20K

Cryptonary

01:30 min | 2 months ago

MicroStrategy once again buys the dip as BTC is back above $20K

"For a.m. Thursday, June 30th, 2022. Micro strategy once again buys the dip as BTC is back above $20,000. Michael saylor, the CEO of micro strategy and American company that provides business intelligence, mobile software, and cloud based services revealed via Twitter posts that his firm had once again bought the dip with 480 BTC at an average price of 20,817 per Bitcoin BTC as the market remains bearish. Microstrategy saves the day micro strategy has purchased another 480 BTC and it seems that the crypto community is divided on the same. Peter Schiff, one of the biggest advocates of gold and a huge critic of Bitcoin commented on sailor's post questioning his purchase. Micro strategy has purchased an additional 480 bitcoins for 10.0 million at an average price of 20,817 per Bitcoin. As of 62,822 micro strategy holds 129,699 bitcoins acquired for 3.98 billion at an average price of 30,664 per Bitcoin. 8 17 Michael sailor sailor June 29th, 2022, increasing your stake by less than .004 seems more like an attempt to influence the market by demonstrating your conviction to other. The post micro strategy once again buys the dip as BTC is back above 20 K appeared first on krypton area.

Michael Saylor Micro Strategy Cloud Based Services Microstrategy Micro Peter Schiff Twitter Michael Sailor Sailor
Peter Schiff: The Scam of Loan Guarantees in Inflation Reduction Act

The Dan Bongino Show

01:53 min | 6 months ago

Peter Schiff: The Scam of Loan Guarantees in Inflation Reduction Act

Peter Schiff: We Can't Spend Money & Claim It's Reducing Inflation

The Dan Bongino Show

01:48 min | 6 months ago

Peter Schiff: We Can't Spend Money & Claim It's Reducing Inflation

Peter Schiff: The IRS Expansion Will Target the Middle Class

The Dan Bongino Show

01:51 min | 6 months ago

Peter Schiff: The IRS Expansion Will Target the Middle Class

Peter Schiff: Taxing Corporations With No Taxable Income

The Dan Bongino Show

01:30 min | 6 months ago

Peter Schiff: Taxing Corporations With No Taxable Income

Peter Schiff: This Recession & Inflation May Get Worse

The Dan Bongino Show

01:52 min | 6 months ago

Peter Schiff: This Recession & Inflation May Get Worse

Peter Schiff: Tax Hikes on Companies Will Reduce Supply

The Dan Bongino Show

01:02 min | 6 months ago

Peter Schiff: Tax Hikes on Companies Will Reduce Supply

Layah Heilpern: The Digital Space Now Has Value

The Dan Bongino Show

01:51 min | 7 months ago

Layah Heilpern: The Digital Space Now Has Value

"But how do you respond to critics who say with Bitcoin specifically I get the other crypto as some of them are just pumping down some But how do you respond to Bitcoin people like Peter Schiff who say you're not really buying anything It's not backed by anything What do you say to that Yeah it's an interesting idea But I think what I say to that is it's such an old fashioned mindset unfortunately And I can understand why somebody likes Peter Schiff can't understand that because they don't think it's anything because they can't so that you see it It's not something which is physically tangible right But you and I connected through social media through Twitter that's not something physically tangible but ultimately this digital space now suddenly has values So I think we can all agree that we are ultimately moving forward into a digital space whether it's the metaverse whether it's more social media is going we are inevitably going that way And so we need a form of money which adopts to that new world that we're moving into It is inevitable And what I would say Bitcoin is backed by is the fundamental value is backed by the physical map and code that supports the network You have minor physical miners tangible things all over the world whether it's Kazakhstan Russia Texas the United Kingdom wherever it is You have difficult machinery which literally confirms every single transaction that's ever happened And so it's like saying to your grandparent you know I tried to explain to my grandparents what do I do Oh you know I do social media stuff They don't get that because to them social media what is that Is this irrelevant nonexistent world And so it doesn't surprise me that Peter doesn't get it But Peter did just tweet something actually recently about how his bank and his funds have been frozen or something like that and he can't move his money around and what would help him not gold but Bitcoin So there's the fundamental value

Peter Schiff Bitcoin Twitter Kazakhstan United Kingdom Russia Texas Peter
Peter Schiff: Capitalism Can Work Better Now Than Ever Before

The Dan Bongino Show

00:54 sec | 11 months ago

Peter Schiff: Capitalism Can Work Better Now Than Ever Before

"We have to come to terms with how screwed up the economy is because of years and years of bad monetary policy and bad fiscal policy So we have to pay the piper for that There is an atonement but then we can do the right thing Then we can put in place the foundation to rebuild what the government destroyed And we do have a lot of technology that didn't exist 50 years ago a hundred years ago Capitalism could work even better now than it did back then We just have to give it a chance We have to unleash the entrepreneurial spirit and the rugged individuals that made this country great And we've got to succeed in chaining the government back with the constitution So that we can go back to the prosperity that we had and even go on to greater prosperity

Peter Schiff: There Is an Alternative to the Federal Reserve System

The Dan Bongino Show

01:57 min | 11 months ago

Peter Schiff: There Is an Alternative to the Federal Reserve System

"You know Peter I've been following you for a long time and you have been warning about this That's not some fairytale I heard you do it Multiple times and they laughed A lot of people laughed Ah that's crazy The great moderation is here We figured out how to print money with no consequences And unfortunately nobody's laughing now The economy is in real trouble I saw a number today predicting 7% if not more inflation next year But is there an alternative to this broken fed based system here I'm going to play some Thomas sold clips later after you hang up but the fed based system clearly hasn't worked Peter Whatever they tell you they're doing they're not doing it They have been on the wrong side of just about every economic prediction about inflation In the last 20 years is there a viable replacement for that Yeah of course there's a viable replacement I mean you could go back to what existed prior to the fed And even in the early days of the fed it wasn't nearly as bad as it is now when we were still on a gold standard So even though we had a Federal Reserve in 1913 they remained somewhat restricted in their ability to print money by the gold standard up until 1971 So we have to go back to the type of monetary discipline that the founding fathers envisioned for this country And that they wrote into the constitution And when you talk about the middle class being the backbone of the American economy the middle class didn't just come here by accident It was a creation of the economic freedom that we enjoyed and the prosperity that that brought about We had limited government We had the most free market capitalism the world has ever known and that's what created the middle class I mean it was a concept that was uniquely American I mean nobody else had a middle class but America And that's because we enjoyed unparalleled levels of freedom and that comes from limited government government spending being very low taxes being very low And sound money We were on a gold standard We didn't just have this printing

Federal Reserve Peter Thomas America
Peter Schiff: Price Increases Now Are Consequences From Long Before

The Dan Bongino Show

01:47 min | 11 months ago

Peter Schiff: Price Increases Now Are Consequences From Long Before

"Peter is this situation going to get worse My fear here is that inflation can be delayed It doesn't appear in the economy right away The M two money supply has grown dramatically It was looking at some numbers today from 15 trillion to 20 children or trillion over just over the period of a year or more 21 trillion I think actually we're talking about 6 trillion more of money floating around both digital and currency wise This is a delayed response typically the inflationary response and the actual prices we experience That money hasn't filtered away its way through the economy Is it going to get worse Of course I mean because a lot of what we're experiencing now as far as price increases these are the delayed consequences of the inflation that was created long before Obama became president We have been creating inflation throughout the last decade or two decades ever since the Greenspan really was running the fed we've been printing a lot of money and kicking the can down the road And I've been warning for years that a day of reckoning was coming And that the problems that we were going to ultimately have to reckon with we're going to be much worse because of our delay And so we're really just at the beginning of this wave For years and years to fed printed money they called it quantitative easing but it really was just inflation debt monetization and all the while they acted as if there was no inflationary consequence because they were looking at the CPI and they kept saying oh look the CPI is under 2% when the CPI is highly rigged It was reverse engineered to understate price increases Prices were going up by more than 2% We just were not recognizing that

Peter Greenspan Barack Obama CPI
Peter Schiff: Inflation Stops Investments That Would Help Middle Class

The Dan Bongino Show

01:37 min | 11 months ago

Peter Schiff: Inflation Stops Investments That Would Help Middle Class

"I mean I'm pretty hedged I real estate things like that that can go up with inflation The rich can actually benefit in some ways from inflation But it really destroys the prosperity and potential prosperity of the poor and middle class doesn't it Well absolutely it's the poor and the middle class are disproportionately impacted in their standard of living Obviously if you're a billionaire you don't really care what food costs So the food price can triple and you're not going to notice it But obviously if your clip and coupons if you're living paycheck to paycheck and all of a sudden your food Bill doubles that is a big deal I mean now you have to figure out what you're going to give up so that you can continue to eat But it's not like wealthier people aren't impacted by inflation because inflation could actually erode away the real value of their investable income And therefore what ends up getting reduced in a highly inflationary environment is investment on the part of the rich that might otherwise grow the economy increased labor productivity of workers And so it doesn't affect their standard of living but it does affect their ability to invest which undermines the economy and certainly it will impact their charitable giving I mean potentially the rich won't be as rich if the value of their earnings as being destroyed by inflation And so after they finish buying food and doing all that they have a little bit less left over to give to

"peter schiff" Discussed on The Peter Schiff Show Podcast

The Peter Schiff Show Podcast

03:27 min | 1 year ago

"peter schiff" Discussed on The Peter Schiff Show Podcast

"A devaluation and the dollar officially but if the us government gives the federal reserve this one trillion dollar coin and says this is a trillion dollars and now we want. Trillion fed reserve those what asset does the federal reserve. Actually have on its balance sheet to sell in the event that it needs to shrink the money supply to fight inflation. It's got an ounce platinum. How much is an ounce of platinum worth. It's worth about one thousand dollars while they have a thousand dollar asset and they have a trillion dollar liability this type of plan bankrupts to federal reserve because it does far more money than it actually has. Now you might say well no. It has one ounce of platinum but that one out supplant them is worth a trillion dollars. No it's not. I mean maybe into fantasy world of the government you have one elsa platinum that's worth a trillion dollars but in the real world. No one is going to pay you a trillion dollars for an ounce of platinum. When you could buy outs a platinum. I mean the price of gold is real. There is a real market for gold. Jewellers are going to buy gold from the government at seventeen hundred and fifty dollars. An ounce. computer chip manufacturers are going to buy gold from the government at seventeen hundred and fifty dollars because they need to go. No idiot is going to buy an album platinum from the us government for trillion dollars. There's plenty of platinum out there that you can buy for less money now that you could say well. It's still a trillion dollars of legal tender. Which is true so if somebody has that trillion dollar coin i suppose it's the same thing as having a trillion one dollar bills right. But that's not the type of asset that the fed can use to take money out of circulation if the fed is going to buy a trillion dollars worth of paper with a trillion dollar coin. It hasn't shrunk the money supply at all. It's just taking paper money out of circulation and put this platinum equivalent of money in circulation but there's been no net drain of liquidity. And so the minute we go down this road. We officially make the united states banana republic because we say the. Us government can just issue. Money can mint as many platinum coins. It wants and claim they're worth whatever it wants and then spend whatever it wants and then the federal reserve has zero ability to ever undo what is being done. They can expand the money supply but they can never contract the money supply and so then. The fed is officially an engine for perpetual inflation. Now unofficially that's what it spend the entire time. But if the fed were to do this platinum coin maneuver then we would drop all pretense now of course. I don't think that's going to happen because they are going to raise the national debt. So they're not going to have to jeopardize what's left of the independence of the fed. I think they realize that they can't let that cat out of the bad. But again when people talk about it as if this is some panacea or is this. This can even work. It just shows you how little the mainstream or even a lot of people in government even understand. The monetary system of the united states or the federal reserve avast has been a global leader in cybersecurity for more than thirty years..

federal reserve us government united states
"peter schiff" Discussed on The Peter Schiff Show Podcast

The Peter Schiff Show Podcast

03:55 min | 1 year ago

"peter schiff" Discussed on The Peter Schiff Show Podcast

"And you know another example too of the way the government makes a mistake and then it just digs in and then it just keeps on doubling down on his failed policies because it never. Kim acknowledge that it got something wrong. It's not just a federal reserve that puts itself into that situation may take a look at the situation with cove it. I mean clearly. I think we responded. And most of the world i mean not just the united states but the entire world. I think responded wrong to cove it. I think the one country that got it right was sweden. And you know i talked about what sweden was doing in real time when they were doing it and i said in my opinion i think sweden's doing the right thing. We're going to have to see. But initially everybody was vilifying sweden sweden was the perfect example of what not to do right. Everybody was trying to say. Oh my god look how bad the cova cases are in sweden. I mean compared to lure way or compare it to finland even though there were some stark differences between those countries even though they were all-scandinavian just because they were in close proximity didn't mean that they were perfect comparison but what are the early comparisons was the overall mortality rates. Like how many people were dying. In sweden relative to other countries that had locked down and masked up and had done all these things to stop the spread. An early on sweden i think ranked twelfth on a list of injuries and mortality rates. So twelve was kinda near the top right. It wasn't the worst one right. So there are countries that had higher mortality rates that had cracked down on covert that we're requiring people to stay at home and they had all the lockdowns and more people were dying than was the case in sweden but since sweden was high up like number twelve. It was a high you see. Look you see. This is really bad so you know. That's why sweden is wrong. Well the interesting thing is that now that a lot more time has gone by. Sweden's not number twelve anymore. Sweden has fallen all the way down to fortieth in other words..

Kim finland united states Sweden
"peter schiff" Discussed on The Peter Schiff Show Podcast

The Peter Schiff Show Podcast

05:09 min | 1 year ago

"peter schiff" Discussed on The Peter Schiff Show Podcast

"Bitcoin held up very well during the week. In fact bitcoin was up during the week. It was pretty strong. It shrugged off all the concerns about the taper off the fed raising interest rates. Now why is that well. That's because bitcoin is irrelevant to monetary policy. It doesn't matter. What interest rates are. It doesn't matter what inflation is bitcoin's not and inflation hedge. I mean the only thing that's relevant to bitcoin on interest rates is the fact that interest rates are so low. People are interested in speculating which is why. A lot of other speculative stocks held up pretty well. In fact the nasdaq outperforms the dow way outperformed the russell. Two thousand was down about two and a half percent because you have economically sensitive stocks there and the dow was down more than the peop- but the nasdaq held up relatively well. Because people are looking to gamble in these momentous stocks and bitcoin again is a highly speculative asset. it is not an inflation. Hedge is not a store value so it doesn't react to the perception that the fed is going to be tightening policy to fight inflation because people aren't buying it as a hedge against inflation i mean they marketed that way but people are buying it because they think the price is going to skyrocket right. If you think something is gonna go up tenfold in the next year which a lot of people buy bitcoin. Do you know. That's not an inflation hedge. I mean inflation is going to be anywhere near that. High people are looking for massive and rapid growth when they buy bitcoin. Nobody's looking to hedge against inflation because inflation. Even if you take an honest look and say okay. Inflation is ten percent ten percent a year. Well if you're buying bitcoin thinking it's going to double in a year or triple in the year. How does that make sense as an inflation heads. That's way beyond anything. that inflation does so. Bitcoin just marches to the beat of its own drum in fact one of the things that i think really caused the rally over the last couple of days in bitcoin is the news that united wholesale mortgage which they're saying the second largest mortgage lender in the united states that they're going to start. I think in the third quarter allowing people who have mortgages to make their payments in bitcoin. Right and this has got everybody. Bitcoin community real excited. Because oh you see. Peter schiff is wrong right or guys like peter ship because this is showing mainstream adoption. Bitcoin is now going to be used to make mortgage payments. So it's like a currency so media of exchange it's being adopted and so everybody's excited see this proves the concept is working. It doesn't prove anything i mean. This is more of a marketing gimmick again for united wholesale mortgage..

Bitcoin fed bitcoin Hedge Peter schiff united states peter united wholesale
"peter schiff" Discussed on The Peter Schiff Show Podcast

The Peter Schiff Show Podcast

05:17 min | 1 year ago

"peter schiff" Discussed on The Peter Schiff Show Podcast

"Joe manchin was in the news talking about inflation tax. I liked the fact that mansion is referring to inflation as attacks and he is basically calling on the federal reserve to stop these stimulus because he is saying that it will cause an inflation problem and of course mansion is correct except he is underestimating. The degree of the problem. I mean the inflation train has already left the station. That's the problem. It's not that the fed may cause an inflation problem. They already have caused inflation. Problem and that problem is going to get much worse. And of course. What joe manchin does it really understand. Is that if the fed were to do what he is calling for it to do. He is underestimating. The impact it would have on the economy on the financial markets. Because as i said the train has left the station but if the fed tries to turn off those monetary spigots. What's going to end up. Getting derailed is going to be. The economy is going to be the. Us markets so mansion doesn't appreciate the degree to which does bubble economy depends on the air that the fed is supplying and at fed. Stop supplying that. The whole thing is going to deflate but getting back to these increases in consumer credit. Whenever you see that americans barring a lot of money and spending it another thing that you immediately start to think about is okay. Well that means that. The trade deficit is also going to be exploding record highs because if americans are borrowing record amounts of money and spending it what are they buying well there buying stuff that was imported. And how do you know that it was important because almost all the stuff that we buy is imported. I mean we consume services that are provided locally. But we go into the market and buy goods and a lot of americans are buying goods with this borrowed money and it's not just that they're buying goods with the money they're getting from the government that's not even enough. They're going out and barring additional money and they're spending that and in fact that was confirmed. When we got the release on thursday of the trade deficit i had spoke on the podcast. A recently about the merchandise trade deficit that had shot up to a record high well. This is the overall trade deficit which includes our surplus in services so this is the unified deficit. And this is the main number that everybody focuses on and the expectation was for an increase in the trade deficit to seventy four billion and that would have followed the seventy one point. Two billion in may which by the way was revised slightly lower so May's deficit was actually seventy one billion but instead of coming at seventy four billion we came in at seventy five point. seven billion. not only. is that higher-than-expected. Not only does that beat the upper range of expectations but that is an all time record high. We have never had a monthly trade deficit as large as this one. I think we beat the record that was set earlier this year. I think maybe it was february so we had recently set a record for a large trade deficit and now he just beat that record in june and based on the consumer credit numbers that just came out again for june..

fed Joe manchin Us
"peter schiff" Discussed on The Peter Schiff Show Podcast

The Peter Schiff Show Podcast

05:32 min | 1 year ago

"peter schiff" Discussed on The Peter Schiff Show Podcast

"Schiller baird who you know. I talk about her because she was in that documentary about the fed. Frontline documentary by pbs. And she at least acknowledged the problems of moral hazard that the fed created of course she ignored all the moral hazards that her own agency that she used to head the fdic created But freely about that she was correct in the moral hazards of the fed. But if you remember. When i did that podcast. I said that. I thought the hidden agenda behind front line was to try to say that the fed had been using its monetary powers inappropriately that it was using them to enrich wall street and what they really should do is use those powers to enrich main street as if the fed could enrich by creating inflation but there was an article just came out by schiller barrett the call for just that she wants to federal reserve to start creating digital digital currency and send it directly to the people into their digital wallets right bypassing congress not waiting for congress to pass a stimulus just give the federal reserve power to send money digital money directly to individuals who could immediately spend it and she actually thinks that this is a good idea course. It's an impossible idea to do legally because the federal reserve can't do that because in order for the federal reserve to introduce new federal reserve notes into the economy and they are not they are liabilities. Even though they don't have to pay anything like they used to when they actually had to pay gold they don't have to pay anything but they need an asset for each liability so when the fed puts new dollars into the economy it takes existing treasuries or mortgage backed securities out of the economy so it's liabilities grow but it's assets grow. That's the whole balance. Sheet defenders can't put money out there without buying an asset. It needs to have an asset to correspondent liability. Because that's the only way the fed can shrink the money supply if there's too much money out there nurse inflation. The fed sells assets to get back its liabilities to retire them but at defense simply puts digital money out there and gives it the people to spend. It has no way to get those digital dollars back off the books. It can't bring them back because it has nothing to sell to get them back so this would be a complete engine of inflation. It would just be turning the federal reserve into an inflation machine which was actually on autopilot. Which would be a complete disaster. And i think at least shailer bared in her op. Ed that she wrote said that north to do this we would have to amend the federal reserve act so congress to authorizes harebrained scheme. But she didn't think it was a harebrained scheme. She thought it was a good idea. Which again this is where we're going even if we don't do it this way it's going to be. Qe for the people we're going to be printed a lot more money but finding a way to focus that money directly to main street not wall street but all that means is that rather than the inflation primarily manifesting itself in asset prices like stocks is going to manifest more predominantly in goods prices like food like energy like clothing all that stuff so at the time..

federal reserve Schiller baird schiller barrett congress pbs fdic Ed
"peter schiff" Discussed on The Peter Schiff Show Podcast

The Peter Schiff Show Podcast

04:25 min | 1 year ago

"peter schiff" Discussed on The Peter Schiff Show Podcast

"Who just were scratching their heads and they couldn't understand why the fed was still so easy. I mean they agree that the proper policy originally as soon as we had cove it and we were under lockdown and everybody was at home everybody agrees to fed did the right thing by printing all this money and cutting interest rates and doing qe. Now everybody is wrong. The fed did the wrong thing. I explained it at the time that the proper monetary response to the covert lockdowns was to tighten monetary policy. Because again what happened because of cloven people who were productive in who were working went home and stopped working so we stopped producing stuff so the quantity of goods and services that were available to buy went down the proper fed policy response which is exactly what the policy response should have been based on the original mission of the fed to provide an elastic money. Supply the fed was designed to shrink the money supply when economic activity shrank. That's what they were supposed to do to maintain price stability. There are always supposed to increase money supply when the economy is expanding and that's the elasticity that the federal reserve was created to supply. So i pointed out in real time if production was coming down if your goods and services we're going to be produced than the fed needed to drain liquidity from the system to prevent prices from really going up. The fed. not only did not do that. They did the opposite instead of draining. Liquidity they added more liquidity so they added more demand..

fed
"peter schiff" Discussed on The Peter Schiff Show Podcast

The Peter Schiff Show Podcast

05:13 min | 1 year ago

"peter schiff" Discussed on The Peter Schiff Show Podcast

"Now if this law actually comes into effect that forces appraisers when they're praising homes in black neighborhoods to ignore all the cops in those neighborhoods and just artificially over appraise the value. I mean what kind of problems is this gonna solve. I mean to the extent that they force the banks to believes these appraisals and loan out more money than they should because they don't really have the collateral it's going to lead to bigger losses for the banks fact. It's gonna make the banks less reluctant to lend into those neighborhoods when they know that the appraisals are all b. s. but meanwhile how does over appraising house help a black potential homeowner who wants to buy he ends up overpaying maybe if he had an honest appraisal he get a lower price but now there's a bs appraisal and he's gotta pay more than the houses worth he's got to take on an even bigger mortgage now. He's got a bigger mortgage payment. What about his property. Taxes mount maybe. He has higher property taxes because his house has been over appraised maybe his insurance policies are more expensive because in theory now he's ensuring a more valuable house. All of this stuff is going to backfire. But all of this is political grandstanding. These politicians want to pretend right. These problems are the result of racism and discrimination and somehow the government is going to cure these problems with another program. All the government's gonna do is make these problems worse you know. Finally there were some comments about bitcoin. on tuesday. It was one of the house had asked a question about whether or not the fed was going to come out with a digital dollar and one of the reasons that he said that that might be a good idea. Was that if we had and official digital currency from the. Us government fed coin. Let's say that that would make digital currencies obsolete that we would need stable coins. We wouldn't need any cryptocurrencies. We wouldn't need bitcoin. If we only had fed coin which obviously infuriated a lot of people in the bitcoin community. Or maybe not fury of them but just reinforce the idea that the fed just doesn't get it because according to that statement powell thinks that the only reason there's any demand for these cryptocurrencies or stable coins is because people just want to deal with a digital coin for convenience and that if the us government provided one everybody would use that but because the us government doesn't provide one will. They're forced to settle with these less than ideal alternatives. He's completely missing the point that a lot of people want to own a crypto currency not Stable coin but a cryptocurrencies like bitcoin. Because they have no confidence in the fed reserve because the federal reserve is a printing too much money and creating too much inflation yet to supply. Bitcoin is capped at twenty one million. So if the federal reserve started issuing digital currency digital dollars it would be issuing them on the same terms that it's now issuing the paper once it would be inflating the money supply. There would be no limit to how many digital dollars defend would create. So you'd have the same problem where you're purchasing power would decline over time and so in that respect a digital dollar in. No way competes with. Bitcoin cryptocurrencies now. It does compete with the stable coins. I would agree if there was a digital dollar that might mean that there was no need for these stable coins to the extent that you could use the digital dollar with the same lack of regulation that you can use allies other stable cleanse which may not be the case but apparently i think one of the senators actually wanted this clarification..

federal reserve us government powell government Bitcoin Us
"peter schiff" Discussed on The Peter Schiff Show Podcast

The Peter Schiff Show Podcast

02:37 min | 1 year ago

"peter schiff" Discussed on The Peter Schiff Show Podcast

"It's a little bit above two percent or a little bit below two percent that's okay just so long as it kinda averages out it's around two percent although they didn't go so far as to say that we have to make up for all the years were inflation was below two percent in the past which is what the fed is doing. The fed is say. Hey we had all these years of inflation below two percent so we can have a lot of years where inflation is above two percent. They didn't quite go that far. They just kind of implied going forward that hey if it's a little bit above two percent that's okay because it'll be made up in the future when there's a little bit below two percent and so we're not going to necessarily have to react. We're not gonna have to raise. Interest rates or tighten our monetary policy just because inflation is a little bit above two percent but they did change their view as to how they would react or respond to inflation less than two percent. What lagarde said at her press conference was that the european central bank is going to be equally unhappy with inflation below two percent or above two percent. Meaning that each of those represents a problem that the ecb would have to solve so in other words if inflation is one percent. That's as big a problem. As inflation being three percent because in both cases you're one percentage point away from your goal. But you know if you really want to look up. The acidity of such a comment by saying that inflation above two percent is as big a problem as inflation below two percent as big a problem. For who because it certainly not as big a problem for the consumer for the economy but a better way to think about it would be to think about a bigger miss because if the ecb is saying that it's equally as bad to be above or below the two percent target. What would happen if inflation was negative one percent during a particular year and that means that the cost of living in europe declined by one percent so in other words food got a little cheaper healthcare. Got a little cheaper. Rents went down a little bit education. Got a little bit cheaper. Gas prices came down food. Prices came down in other words. Everybody got to enjoy a higher standard of living because the price of everything they buy went down a little bit so everybody could afford to buy a little bit more because they were paying a little bit less for what they need it.

ecb fed lagarde europe
"peter schiff" Discussed on The Peter Schiff Show Podcast

The Peter Schiff Show Podcast

03:17 min | 1 year ago

"peter schiff" Discussed on The Peter Schiff Show Podcast

"And by the way if you're not yet a subscriber to my youtube channel make sure and subscribe encourage your friends to subscribe as well and until they're francis subscribe. This particular video is the second peter. Schiff was right video. Somebody came out with this one as a cnbc edition. It was a follow up to the original. Peter schiff was right video that particular video featured almost exclusively clips of my interviews from fox news. There was one i think. Cnbc interview in there but everything else was for fox news. They actually were taken from these saturday. Business programs that raw. There's a two hour time block. And there were four different half hour shows and i was frequently invited to be guest on those shows to kind of be the token bear to balance out all the other bulls and everybody would make fun of me and because of that it because how many people made fun of me. It was great footage for the ultimate peter. Ship was right video so that video really showed a disproportionate amount of clips from fox news. Which i believe maybe pissed off some of the producers on fox news which is why no longer invited on those programs. I haven't been on in years. In fact i think now they just have one to our live show on saturdays hosted by neil convert off my release sure but they stopped inviting me on ears in years ago and maybe it had something to do with the fact that they were pissed off at me for this. Peter ship was right video. That really concentrated on fox news and a lot of air gas sin and hosts. And of course i had nothing to do with the production of that video. It was made by fan and that person selected those clips but then another fan decided that cnbc needed to be more heavily scrutinized. So he put together or she. I really have no idea who did it. Another video peterson was right. The cnbc addition and we actually posted that one to my channel. You know i did get around to a couple of years ago. Posting a version of the original. Peter schiff was right because the actual original peter schiff was right. That had millions of us. The guy who put that up eventually took it down. I have no idea why he decided to take it down from youtube but he did i so i put one up on my channel just so it would still be there and the reason that we decided to put this one up as i have been pretty critical of cnbc recently and they haven't had any on any of their programs in years at least fox news still has me on. Maybe they don't have me on those shows. But i've been going. I'm tucker carlson now for a while. I've done fox. Business with louis claim in with charles pain so i am still invited. I'm persona non grata over at cnbc. But the real reason..

fox news cnbc peter schiff Schiff Cnbc youtube francis neil Peter peterson tucker carlson fox louis charles
"peter schiff" Discussed on The Peter Schiff Show Podcast

The Peter Schiff Show Podcast

03:25 min | 1 year ago

"peter schiff" Discussed on The Peter Schiff Show Podcast

"Women were liberated when they didn't have to work. They lost their liberty when they had to work and the reason they had to work was because prices went up so much more than wages during the one thousand nine hundred seventies that their husbands could no longer afford to support them and their kids so they had no choice but to join the labor force so that was the result of that inflation. So what is going to be the result of this next massive inflation and again even if defend was correct in that this high inflation is transitory. That doesn't mean it's gonna get reversed so if we have a year we're prices go up ten or twenty percent and they never go back down if they just start going up two percent a year after that. That is a increase in the cost of living forever. Americans which is like a massive tax right if the cost of living goes up by ten percent. Let's say you're earning forty thousand a year and thanks to one year of transitory inflation prices. Go up by ten percent and ten percent higher every single year into the future will. That's like you're paying a four thousand dollar tax because most people that earn forty thousand year they spend it all and if everything caused ten percent more because of one year of transitory inflation. You've got an annual tax bill of four thousand dollars. Meanwhile you got. Joe biden saying nobody. Earning less than four hundred thousand dollars. A year is going to pay a tax think about the enormity of that inflation tax. and of course it's not going to be transitory. There is no reason to believe that is. Snowball is going to stop rolling down. This hill is going to keep gathering momentum as it gets bigger and bigger so we're gonna have a higher inflation. I think at twenty twenty two then we have in twenty twenty one and probably higher in two thousand twenty three. Don't we haven't twenty twenty two so the tax hikes are going to get bigger and bigger now. of course wages aren't going to go up right. So people are gonna have some increases in wages to offset to increase in their prices. But what they earn is not going to be going up as fast as what they're buying and they're going to continuously be behind the curve. And of course what really gets wiped out all your savings because you don't get any raise their so if you have money that you save from work that you've done the past and that you were hoping to spend in the future you're getting taxed on that substantially that's not going up and you have a lot of people who are living on fixed incomes and these are not millionaires and billionaires who were living on fixed income. You have a lot of middle class retirees whose retirement is going to be completely destroyed by this inflation tax. And they're going to have to go back to work by the way the interview. I did with ben. Shapiro finally made it onto youtube. A lot of people had heard me mentioned. I was on the sapiro show but they weren't able to see it because it was reserved for paid subscribers. Will now it's available to anybody. Have just go on youtube and google. Peter schiff ben shapiro or go to ben. Shapiro's youtube channel. You can check out the interview. It's about sixteen minutes in length. You know when you're running a small business those hr issues can kill you. Wrongful termination suits minimum wage requirements. Anti discrimination other labor regulations and those hr managers ain't cheap an average of seventy thousand dollars a year and that's where band becomes in bambi spelled b. a. n. b. e..

Joe biden ten percent four thousand dollars two thousand ben. Shapiro twenty percent ten Peter schiff ben shapiro twenty less than four hundred thousan google forty thousand year one year youtube twenty twenty one forty thousand a year sapiro four thousand dollar twenty twenty two seventy thousand dollars a yea
"peter schiff" Discussed on The Peter Schiff Show Podcast

The Peter Schiff Show Podcast

04:48 min | 1 year ago

"peter schiff" Discussed on The Peter Schiff Show Podcast

"The goal that i have which is to educate people to understand economics and understand the damage that the federal reserve in the. Us government are doing to the economy. I think gunnlaug understands the damage that that is being done and he knows that. I am doing an excellent job of communicating these mistakes to the public and i think he can help me reach an even larger audience and maybe even reach an audience. That may be in a position to make a difference. I know there are some people think. Oh you know. He's he doesn't want to admit he listens to you because he's worried that somehow his credibility will be diminished. He doesn't have to worry about that at all. I mean. I remember one time jim cramer on. Cnbc said something. Negative about jeff gone locke and then jeff gunnlaug. I think on twitter said well. I'm just never going to be on cnbc again. If you're going to criticize me. I'm not going to be on your air. And the very next day they forced jim cramer. Basically he had to apologize. Had a comeback crawling on his hands and knees with his tail between his legs is begging forgiveness. A gun lock. Because i'm sure that network came down on him like a ton of bricks because they could not risk having jeff gun. Lock boycott cnbc. Because he's that important of a guest. I mean whenever they have him on they roll out the red carpet. They promoted for days in advance. They give him entire hour to talk. I mean they treat them like royalty. He's the bond king and so maybe he's the reigning king and so. There's nothing that he could say. That would kick him off. Cnbc or any other mainstream media outlet. In fact it would be personally satisfied to me. I would love to see jeff. Gunnlaug mentioned my name on cnbc because nobody else is allowed to mention my name. That's why the last time when he used my analogy when he did the analogy. And i made another youtube video about that running into an old college friend and saying hey how you doing if he would have said to. Cnbc hey you know. Peter schiff has a great analogy to explain. This had he said that on cnbc and stuck it in their faces. Yeah it would have been personally satisfying to me. Because cnbc doesn't think their audience should be listening to peter ship. Because they've they banned me from their air and not that. I even want to go on anymore. I don't if they were to invite me on. I would decline. But the reason they stopped inviting me on is because they don't want their audience to hear any things. I have to say yet. Jeff gun lock is basically saying the same thing and in fact in some cases he's saying the identical thing when he's using my days so if he were to remind the people at cnbc that while they don't want their audience listening to peter schiff that he listened superior shift yes..

peter schiff Jeff jeff gunnlaug Peter schiff jeff twitter youtube jim cramer Cnbc Gunnlaug gunnlaug jeff gun cnbc peter ship of bricks day jeff gone locke one
"peter schiff" Discussed on The Peter Schiff Show Podcast

The Peter Schiff Show Podcast

03:24 min | 2 years ago

"peter schiff" Discussed on The Peter Schiff Show Podcast

"As if when you have bitcoin there's there you don't have to trust anything yes you do. I mean every time you do a bitcoin transaction. The transaction has to be verified. The miners have to verify it. That's why the transactions take so long. They're not instantaneous. They could take hours because miners around. The world are verifying these transactions. And it's very expensive in fact if you look at the total cost of verifying all the transactions it's about five percent of the total market cap bitcoin enormous. I mean reality bitcoin. If it were currency it has a five percent negative yield now right now. The yield is being absorbed by the bitcoin community. Because the price keeps going up so you can't see e the massive cost of maintaining this network to verify all these transactions. You're gonna have to do that with gold. No third party as verify. I can just hand my gold is somebody else boom. And if i had ownership of gold in a vault i can transfer that ownership to somebody else and it would be very efficient and much less expensive than transferring my bitcoin but then another tweet. I went into his understanding of money. This is really where he displays his lack of understanding does he said money is data right. That's what he said. Money is just data. No it's not. Money is not data. Money is an actual good in and of itself. Money was an improvement on barter. Because instead of trading you know one good for another you just traded goods for gold. Which was in of itself a good so if you paid somebody in gold you are paying them with something of value in exchange for the thing of value that they gave you now they may not need to gold meaning that maybe they're not a jeweler or they're not a chip manufacturer right. They don't actually need the gold but somebody needs the gold and so they can take as money because they know somebody else will take it either because they need it or they'll take because somebody else needs it. I've used the example of cigarettes being money. Cigarettes were money to people who didn't even smoke. Mean why we're cigarettes valuable. Why did he is use cigarettes after. World war two. Why do prisoners you cigarettes because you can smoke them if you are a smoker cigarettes are very valuable to you. Got a habit. You need your cigarettes right. So if you're in an area where there's a lot of people you know that there's going to be a certain percentage of those people who smoke so if you're looking for some thing that can function as money you would take cigarettes in exchange for something else even if you don't smoke them yourself because you know that there's going to be somebody who will and even somebody else who doesn't need them will take them from you for the same reason but if you're in a community where nobody smokes if you're on an island and there's not a single smoker on that island right. This cigarettes have no value. What gives them. Value is the fact that there are smokers so gold has value because people do use it if there was no use case for gold the gold itself with have no value that is not true for bitcoin..

five percent World war two single smoker one lot of people about five percent hours bitcoin
"peter schiff" Discussed on The Peter Schiff Show Podcast

The Peter Schiff Show Podcast

03:20 min | 2 years ago

"peter schiff" Discussed on The Peter Schiff Show Podcast

"What what did he mean by that. Well what musk was referring to is. Let's say you buy gold from a third party who does not deliver it to you when you buy gold from shift gold we take your goal put in a box and send it to your house so you actually get the gold in your hand. What musk is talking about our circumstances where you buy gold. But you don't actually get sent the goal. Maybe you get an email that says. Hey we just you bought gold and we're holding it for you and so you have an email and he says an email you know that says you have. Gold is not the same thing as actually having gold. And so the way i address that in my reply i tweeted an email confirming gold ownership either from a private vault or a government is but a secondary layer trust. You can confirm this trust on your own while bitcoins ostensible. Trust layer requires a network of minors spending five percent of the market value of bitcoin every year. To do it for you right now to expand on that because you know with twitter you just have a short tweet. Look if somebody sends me an email that they're holding my gold..

five percent twitter secondary layer third every year bitcoin
"peter schiff" Discussed on The Peter Schiff Show Podcast

The Peter Schiff Show Podcast

05:36 min | 2 years ago

"peter schiff" Discussed on The Peter Schiff Show Podcast

"In the world i mean you have other people who are against it neural rabin any you know Jim rickards jim. Rogers warren buffett. I mean there's a long list of people you know who completely dismiss it and say it's a fraud it's a con but i don't think anybody is as popular as me if you look at all the memes out there. It's i'm the one that everybody's making fun of. I am the laughing stock of the bitcoin community. So much. talk to me. I mean if he's now if he's coming off his high mark of being big engineer this billionaire. Who's you know making electric cars and you know spaceships. And he's now a big promoter of bitcoin and trying to claim that it's better than gold. I'm the guy that he should be having a conversation with in a clubhouse and of course what if he convinces me i mean what if what if he says something because ultimately if bitcoin is going to succeed at replacing gold. You're going to have to convince me. And people like me to accept it right and so this is an opportunity. Hey maybe we can get peter schiff. Let's take a shot. You know people keep saying well peter's never gonna like bitcoin because he's biased because he sells gold gold selling goal. this shift. Gold is a side business. it's a small percentage of my income. And i much so stubborn that if somebody can actually prove to me that i'm wrong i would admit it if some could actually prove hey. Bitcoin is better than gold and prove it to me. I mean that's okay. And of course a lot of the people who think that you should bitcoin. They also think that you should own gold. I mean it doesn't mean. I have to stop selling gold because i embrace bitcoin. I mean there's a lot of people that say. You gotta go as well as total meaning. Hold onto your goal. hold onto your silver. i mean look if elon. Musk is going to bill rocket ships. he's probably going to be using some gold silver and his electric cars. So you know. I'm a big target convinced me and all the dominoes are gonna fall right so if you're a big bitcoin guy get peter schiff on board. Get me to accept. Bitcoin and you you accomplish a lot. You know..

peter schiff Musk Jim rickards peter jim. Rogers lot of people bitcoin lot
"peter schiff" Discussed on The Peter Schiff Show Podcast

The Peter Schiff Show Podcast

05:43 min | 2 years ago

"peter schiff" Discussed on The Peter Schiff Show Podcast

"Six cents getting close to twenty eight dollars an ounce now for the price of silver. See i think what are the things that's driving silver to is that it's moving as an industrial metal as well as a precious metal because it's the industrial metals that are really leading the charge right now and so silver is kind of in the middle. It's part industrial and part precious. And so it's moving on its industrial components but once we start to see the bid coming in for gold as a precious metal than silver is going to enjoy that bit as well. I think it's gonna keep going up as an industrial metal but be supercharged as a precious metal. And i think you're really gonna see a spectacular move up in gold and silver and we saw that today in the silver mining stocks. There are a lot of silver companies today that were up ten percent or more on the day so very very strong day for some of these stocks. Gold stocks were up. I mean it was nice to see him up nothing spectacular but the gd did manage to gain four and a half percent on the day the gts jay. Which has some of those junior. Minors was up almost six percent on the day. So it's a good start. But i think it's it's small relative to what's coming in fact. Us dollar was also weaker across the board today. The dollar index finished down point three just about ninety even point nine zero on the dollar index. This really is right out support and it looks to me like we could break through that support level and fall quite a bit from here and in fact the reason that we had the pullback in gold and the reason that goal there's not moving up with all these industrial metals is because of this narrative that i've been discussing on the podcast that this stronger than expected economic recovery powered by government. Stimulus is going to result in the fed raising interest rates sooner than everybody expects and that tighter monetary policy is going to make the dollar. Go up and it's going to be a strengthening dollar that is going to weaken goal except one of the main flaws in that narrative other than the fact that the economy isn't strong. It's a bubble and the fed's not going to let the air out of its own. Bubble is the fact that the dollar eight going up despite the rise in long-term interest rates and the rise in commodity prices. The dollars not going up. It's right on the floor now. Maybe it's the belief that rate hikes are coming and they're going to strengthen the dollar maybe that's providing some temporary support for the dollar. Maybe if it wasn't for the fact that so many people on wall street believe something is going to happen. That's not gonna happen. Maybe it's that belief that's been temporarily propping up the dollar but the key is how much longer can it happen and once the dollar defies expectations and starts to fall despite rising interest rates despite rising commodity prices. Then gold has a lot of cash up to do because all the people who have been selling gold based on this false narrative are going to have to rush to buy it back. The only problem is is going to be a lot more expensive..

ten percent Six cents today four and a half percent one twenty eight dollars an ounce point three about ninety point nine zero almost six percent eight main flaws so many people
"peter schiff" Discussed on The Peter Schiff Show Podcast

The Peter Schiff Show Podcast

01:57 min | 2 years ago

"peter schiff" Discussed on The Peter Schiff Show Podcast

"They actually caused the opposite. The more people who are productively employed the lower. The prices are. Because if you're employed productively you are aiding in the production of goods and services so the greater the supply of goods and services the lower the price. The problem is when you have people who aren't employed productively spending money. That's what's driving the prices up. But it's because the money they're spending is coming from the government so these high levels of unemployment are big problem because a lot of these unemployed people are spending more money today than they were spending. When they had jobs. I've talked about this on this podcast. We have retail sales going through the roof. even though people don't have paychecks. Well what do they got their getting checks from the government instead of from an employer but when they get a check from the employer. It's for their help in producing goods and services when they get a check from the government. They don't do anything right. And the only reason those government checks aren't bouncing is because the federal reserve is monitoring the deficits otherwise they would bounce so if you're just spending government money and of course if you get a government job right. Most government jobs aren't productive. But where's the money coming from to pay these government workers if it's not coming out of their productivity again. It's coming from the fed reserve. So that is what is driving higher prices. It's not that we have too. Many people working is that we don't have enough people working and we have too many people working non-productive jobs getting paid by the government. And all of this is going to get much much worse when we pass this one point nine trillion dollar stimulus package which of course the price tag is going far exceed. One point nine trillion. Because again they are not looking at the moral hazard that these spending programs create and as a result a lot more money is going to end up being spent than is being budgeted. If you're a business owner you don't need me to tell you that..

nine trillion One point one point nine trillion dollar today many
"peter schiff" Discussed on The Peter Schiff Show Podcast

The Peter Schiff Show Podcast

05:43 min | 2 years ago

"peter schiff" Discussed on The Peter Schiff Show Podcast

"Though mentioning some of my social media sites i really did pick up a lot of followers on my various platforms in twenty twenty. And so hopefully all of this momentum will continue in twenty twenty one. The biggest social media platform being my youtube channel now has over four hundred and five thousand subscribers shift clips the one. I just started still only fifty two hundred. I thought the video just put up of me reading my son. Preston's christmas list. I thought by releasing that on shift clips. I would get a lot more people subscribing i did it and so i ended up copying the video because i really liked it and i wanted people to see it and i realized that not that many people were seeing it on shift clips so i put it up on my main youtube channel. Of course it got way more views so if you haven't watched that video check it out but if you haven't subscribed to shift clips subscribe to that youtube channel. Because i wanted to be able to put out a content exclusive to that channel. But i want people to see it so i got to have people subscribing to it to get the notification that the new videos are out so make it a new year's resolution for you to subscribe to shift clips my next i think Biggest platform was twitter. I now have almost three hundred twenty thousand twitter followers. So i'm really starting pick up my pace on twitter. I'm using that platform a lot. More still don't have a blue checkmark. I still haven't been verified by twitter. I'm wondering if i could actually get to a million followers without having check mark. We'll see but if you're not following me on twitter follow me and tell your friends and apparently that is where my bitcoin influence is coming from is coming from my twitter account. So at least somebody is paying attention to my tweets. I just wish that people actually were paying more attention to them instead of just criticizing them then. I got facebook facebook. You know. I've been on facebook for a long time. I'd not using that platform as much. Maybe i'll try to pick it up. I only have one hundred thirty five thousand followers on facebook. So if you're not a friend of mine on facebook you might want to add to that and helped me beef up those followers. The newest one is instagram. I didn't even have an instagram account. When the year began. I introduced it. Maybe midway into the year. And i've got almost sixty five thousand people. Now that are following me on instagram. We are putting out a lot of content on instagram. A lot of stuff a lot of really really good stuff on instagram. So my goal was really to make that a more meaningful vehicle for me. So if you're not following me on instagram and obviously a lot of people are not because it's only sixty five thousand then follow me you know. Make data new year's resolution as well. Follow peter schiff on instagram. And then try to get as many other people to follow me on instagram as well anyway. That's it for today. I wanna wish everybody again. A very very happy and healthy new year in two thousand twenty one. It's been a long twenty twenty a lot of content. I've done a lot of podcast this year. Probably going to do as many maybe even more in two thousand and twenty one. I think is going to actually be a very very big year for my investment strategy. I think it's going to be a very bad year for the dollar. On which means it's going to be a very good year for foreign stocks emerging markets gold everything that i've been positioning myself and my clients for for the past decade. I think we're really going to get paid in a big way in twenty twenty one and twenty twenty. One is not at the end of this..

twitter youtube facebook Preston instagram peter schiff