12 votes

Peter Schiff on CNBC: Cyprus, Banks, and Inflation

Peter Schiff 2013 - Peter Schiff schools CNBC fools about the insolvency of US Bank [4 against 1 is still not fair.]

http://youtu.be/wvoEsKxYvnY

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Two of the three start to agree

and then Maria says we gotta go. Peter can hold his own.

You're Right - 4 against 1 is not fair

That is, not fair to the 4 considering the "1" is Peter Schiff.

SteveMT's picture

These people have no skin-in-the-game.

Peter Schiff is on his own. His 85 year old father has been jail since February 24, 2006 serving a 13 year sentence for tax evasion.

This description is dated from Coast-to-Coast, but describes Peter's father very well:

Irwin Schiff is the nation's leading authority on income tax and claims the government illegally collects it. He has written more books on the subject of the income tax than any other American, selling over 500,000 copies. His name was put in for the nomination for President of the United States at the 1996 Libertarian Party National Convention held in Washington D.C. He is now on trial in Las Vegas being sued by the Federal Government.
http://www.coasttocoastam.com/guest/schiff-irwin/6613

I'd say that Peter has his entire skin in this game.

I wonder if Mr. "Guest" ever reads the comments on the videos?

Some priceless ones!

"When the power of love overcomes the love of power, the world will know Peace." - Jimi Hendrix

Phxarcher87's picture

Can someone please explain

to me how my grandfather was able to

drive a nice Cadillac
put kids through college without taking out a loan
put a lot of money away for retirement
and not have a mortgage for the last 30 years
all with a blue collar job

WTFizzle it must have been like magic back then. I cant even smell the remnants of an honest monetary system.

"Whenever you find yourself on the side of the majority, it is time to pause and reflect" - Mark Twain

I think Peter Schiff brings

I think Peter Schiff brings up a good point that often gets forgotten. When Glass-Steagall was repealed, perhaps FDIC insurance coverage should have also been repealed with it. That would have created an incentive for banks to act carefully and prudently with depositors money. Otherwise you leave taxpayers paying for bankers speculative gambling losses.

SteveMT's picture

Great point.

Repealing Glass-Steagall was like taking the mussel off of a known killer pit-bull.

Peter Schiff

Peter Schiff is the man. I don't understand how these other "economists" don't see that artificially low interest rates and printing money is unsustainable and really masks how the economy is really doing. Artificially low interest rates promote mal-investment and printing money causes the money to inflate and prices to go up, which hurts growth. Geez, these Keynesians.

They DO See

but they are paid liars.

skippy

SteveMT's picture

The others are paid to continue pushing the all-is-well agenda,.

..like Jim Cramer. They want you to take the "blue pill" and stay in this phony dreamland.

Tic Tac Toe vs Chess

Schiff is informing Maria B. and her considerable audience that the FED is playing a different game with different rules and different language.

Anyone who pretends otherwise is going to end up looking foolish.

KMoore
May our efforts in support of Congressman Ron Paul be blessed with supernatural success.

SteveMT's picture

If anything, Peter is even more steadfast in his responses.

When you know that you are right, answers become crystal clear and very direct. Thanks for the bump.