10 votes

Peter Schiff on CNN tonight

I caught the last few seconds of what looked to be a lively face off between Schiff and lefty Cornel West on Anderson Cooper. To be re-aired later tonight.

Anyone catch it?

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Doesn't the major financial firms on Wall Street hold the stock

Doesn't the major financial firms on Wall Street hold the stock to the Federal Reserve System? They do, and isn't this a conflict of interest? Wall Street controls Washington, and this is the problem.

Banks have historically created boom and busts cycles before the creation of the Fed. This was true in the Panic of 1857, 1893, and 1907. The Fed has continued the boom and bust cycles, but on a much grander scale. Deposit banking should be for the purpose of storing and protecting a person's wealth. A depositor should be paying the bank to protect his/her wealth; not the other way around. A depositor bank should not be loaning out other people's money. If a person wants to put their money into a "bank" that speculates with their deposits, then they should be willing to suffer the consequences of the banks bad actions. Keep depositor banks out of speculation.

"I support the Declaration of Independence and I interpret the Constitution."

here is the problem..

gov't never gives credit where it is due, it takes it, coercively. What mr. cornell west must understand is what many black intellectual leaders understood, specifically W.E.B. DuBois understood that a slave was only a slave because hw did not understand how NOT to be a slave, always subjugating himself to another man's beliefs Goddamn if anything the minorities shouldn't credit the state for their newfound "equality" [upper hand in all downtrodden situations] They should credit the likes of MLK and malcolm X and all of their intellectual leader instead of their legislative ones. further proving that the greed does not really lie within the confines of banker boardrooms but rather in everyday house holds in america, for whose to say that demanding unreasonable wages is not in it's self GREED to demand consumption without production IS criminal and it IS greedy whether these self-righteous statist's like it OR NOT!

Stockholm Syndrom

I believe they call it the Stockholm Syndrome. The Statists are blinded by their wide-eyed fascination with a totalitarian utopian society. They do not realize the harm that comes with it. Remember, a strong central bank is one of the planks of communism :)

Just a taste

of the promised longer debate "maybe next week."


New Hampshire and Ecuador.

Cornell West is no slouch

, he made some very good points there, and truthfully, I think it is just hard to imagine no government intervention in the economy whatsoever. But Schiff's philosophy ultimately will triumph in this debate. The key is the courts would have to be very strong in such a society in prosecuting white collar crime and fraud. If such were the case, it would encourage honesty and fair play, and the growth of corporations would have a low ceiling due to open competition.

John F

Good job Peter!

I very much liked that debate, mostly because Anderson Cooper for the most part just sat back and stfu! I got to hear more of the guests for a change. Peter held his own very well, and was able to befuddle his Cornel on occasion. One area he could improve on when defending capitalism is pointing out "No, that's not capitalism, that's corporatism", and then offer a brief definition of what corporatism is. (/cough fascism /cough). Cornel was very respectful of Peter, who was also respectful. (He might talk over someone a lil bit, but look at the conditions, pressed for time, etc., and the opponents always do the same.)

That was fun! I want more of

That was fun!

I want more of Schiff vs. West.

"Air is the very substance of our freedom, the substance of superhuman joy....aerial joy is freedom."--Gaston Bachelard--


Peter has been looking for someone to debate him. Cornell made the offer, I'd like to see that debate happpen.

That would make for one heck

That would make for one heck of a debate. Great idea... Perhaps something worth mentioning to both via e-mail. Who could sponsor such a thing?

I'd love to watch that debate!

Two very different ways of thinking, and no doubt they would engage each other. There is an event coming up around the 7th of November that Peter sent out an invitation to someone else (can't remember) offering to pay for their expenses (including flight) if that individual would come debate him. That person didn't respond.

Cornell West said, "I wish we had more time, I want to debate my brother directly on this."

Well, there ya go.

I think there'd be a lot of collateral discussion.

If you'd like to see that debate, send your thoughts to Peter and West below:



Thanks for the links. I think

Thanks for the links. I think it would be a fascinating exchange of opinions and ideas!

I have few common beliefs with professor West, but I still think he is a very smart guy and this would be an eye-opening debate.

As a matter of fact, I would leap at the chance to see a large panel of scholars, celebrities, politicians or other well-recognized people on such a panel.

Honestly, I like Cornell

Honestly, I like Cornell West, seems like a likable and honest character.

That said, he does not understand economics at all!

How can you not point the finger at the FED??? I mean, it's absolutely ridiculous to think that the FED was not the fundamental cause for all the speculation and corruption on Wall Street with their low interest rate policy. Everybody and their grandmother knows that if you want people to speculate and gamble, take away their bank interest!!!!

The one thing that Peter is wrong at is THE FED IS NOT FEDERAL IT'S OWNED BY THE BANKS!!!

So the blame should be put on the banks and Washington and anywhere else is just BS and a waste of time.

The occupiers should be at the FED every single day!!!!

It really doesn't matter

It really doesn't matter whether the banks or the government own the Fed. At the end of the day, all central banks cause inflation and boom and bust cycles. By focusing so much on the fact that the Fed is technically privately-owned, you give ammo to leftists who simply want a complete government takeover of the central bank. In either case, the government is the one who gives the Fed its monopoly power over the money supply and influence over interest rates. It's no better. Instead of the newly printed money going to Bernanke's buddies, it will go to Obama's buddies (though in many cases these are the same people).

Poor Cornell West

The guy has absolutely no idea how the Fed works or how it creates inflation and stagnation.

That puts him right in the

That puts him right in the mainstream of society. He could be a great source of outreach for freedom if he is "converted" in his views. As mentioned earlier, he is a smart guy.

Great Peter and Cornel!

I love a good debate.

Peter is talking about the Free Banking Period of 1836-1861 and to a lesser extent the Gilded Age for 1872-1913.

Cornel correctly identifies the wounds to the economy created by the government sanctioned cartel with monopoly control of the money supply, independent of government management. The Federal Reserve System eliminated the free market and substituted the slavery of the purse.

Cornel is seeing the bandaids applied during the 1930s and beyond and sees they are failing.

Peter says let's get rid of the knife wielding Creature from Jekyll Island that is slicing and dicing the US economy for its own profit. All this is with the governments blessings.

I hope they continue this debate and take a wider view of history.

Free includes debt-free!

Can't believe Vanderbilt

Can't believe Vanderbilt allowed Schiff on his show! If this continues and all that Schiff truth and education permeates, Vanderbilt is gonna have to rename is show AC 180. Cuz you sure as hell can't continue in the same direction after getting a dose of Schiff : )


Schiff just laid some education on that guy. You could tell he was caught on some of Peter's points


Saw that online. Schiff wins

Saw that online. Schiff wins again.