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RT: Peter Schiff explains the global economic "death spiral"

Daily English News - Peter Schiff explains how a US depression can cause a global 'death spiral'

http://youtu.be/mteHxjezpuE




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Collateral?

Question...The federal debt is almost $17 trillion, what does Washington use for collateral?
Vin

Cyril's picture

Your, our lives.

Your, our lives.

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Guns

Lots of guns. And bullets. Those 20 billion bullets DHS purchased? Collateral.

SteveMT's picture

Not 20 billion bullets, just 2 billion.

That's already 6 bullets/person, including them. No need to exaggerate.

Cyril's picture

Correct. They can kill us all. Several times, and each year.

Correct. They can kill us all. Several times, and each year.

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Schiff never exposes the

Schiff never exposes the fraudulent fractional reserve monetary system and pretends like the debt is real.

The solution is not to "raise interest rates". The solution is to WRITE OFF all fractional-reserve debt, pay back China/Japan the bond-backed debt (which is a tiny affordable fraction of the total debt) and issue debt-free money into circulation like the US consititution demands.

Why don't these hero's of the liberty movement ever mention the REAL solution and expose the real problem?

The only one ever to come close was Joseph Stiglitz when he proposed minting a trillion dollar coin to write off the debt. Everyone hated that idea, yet fundamentally, it's much more moral than letting private banks issue debt backed by nothing and RAISING interest rates on that fake debt so that we pay them MORE. It's insane to do that.

This is why I wrote an article exposing Peter Schiff as a bit of a neocon because he doesn't actually offer REAL solutions. His solutions are actually worse when it comes to monetary policy.

People are enslaved by debt created out of nothing. Raising the interest rate only enslaves them further and validates the original fraudulent debt. Again, the solution is to write off the debt because it was fraudulently issued and replace the monetary system with constitutional money (and allow private money to circulate).

Can someone please tell Schiff that bombing Iran's facilities is not consitutional and raising interest rates does not solve the monetary problem.

You again!?

how many time do I have to tell you that Peter is on our side, he is clearly opposed against a Private Central Bank and Foreign Wars despite that little video you posted which clearly was taken out of context.

His name is Edward Snowden

What is Capitalism?
http://youtu.be/yNF09pUPypw

In this interview Schiff mentions the Fed, inflation and QE

You seem to just be a hater. That's ok skeptics are important too. And about "bombing" his point was not that is what he wants but more a critique of the foreign policy, as in: "why go to war why not just bomb".

History does not long entrust the care of freedom to the weak or the timid.
Dwight D. Eisenhower

None of which are the root

None of which are the root cause of the problem.

The root cause of the problem is the PRIVATE BANKS that lend money they don't have. That's the source of all the problems. After all, it was the PRIVATE BANKS that conspired in 1913 on Jekyll Island to create the FED.

As a result, "raising interest rates" only exacerbates the problem and validates the FRAUD debt that was issued.

The ONLY solution is to cancel 90% of the total debt. The bond-backed debt to China/Russia/Private Investors is legit and should not be cancelled (but that's only a tiny insignificant portion of the total debt).

The people have ZERO obligation to pay back their credit cards, mortgages, personal loans as they were never loaned money, as the banks never had that money.

I hope someone with a brain reads this and learns. Someone please tell Schiff, Ron, Rand, Tom that FRAUDULENT contracts are INVALID.

If a bank loaned money they didn't have, then that loan is null and void.

The ANSWER to the Problem is...

to put all the key players in Goldman Sachs, JPMorgan, Bank of America, Wells Fargo, State Street, etc., plus the Federal Reserve owners, and all the complicit politicians who voted for the BANKING BAILOUTS to be arrested and put in jail, until all this can be sorted out.

If it were a "just" world, that's exactly what would happen.

Simultaneously, all their off-shore bank accounts would be frozen, along with all their privately-owned assets, real estate, local banks, credit cards, etc. here in the USA. Additionally, all their communication devices would be shut off and that would be the end of that, until things were sorted out.

All the confiscated monies would go into a SEPARATE account, all of it transparent, for all the world to see.

If only....it were a "just" world. I agree all debts would be defaulted on. But, the reason we had the CRASH of '08 is due to the DERIVATIVE & CDO-SWAP SCAMS that were implemented, no doubt, since the early 80's. Indeed, these salespeople at GS, etc. were busy, busy boys, selling to anybody and everybody. What fools they were, all the suckers...they too would have to answer for their decisions.

A commenter was right about the FED's money printing expeditions since 1913. Just think how much wealth they've stolen from us through the years!! We could have been even much richer than Switzerland. After all, the USA is where so many of the world's inventions were---electricity, the first steamship, the telegraph, the telephone, the car, the airplane, I mean it's incredible that women ever had to go to work, ya think? They NEVER should have had to do that. All our FAMILIES would have remained intact, or at least had a much, much better chance of that! But no... What the Federal Reserve has done to this country is absolutely egregious and BENEATH CONTEMPT.

Iceland is a good role model, imho.

The ONLY thing Schiff never gets to--is that with all the trees in the world & digits in computers---this could go on indefinitely, and if he sees that it can't, WHAT EXACTLY WOULD MAKE IT all fall apart??

Anyone who thinks

Anyone who thinks that evidence of fraud within the term "private central bank" is the word "private" or the word "bank" instead of the word "central" is someone who has been swindled NWO-style.

Anyone who thinks that "...there isn't enough money to pay back the loans" is someone who has been swindled NWO-style.

Anyone who recommends that people refuse to pay their voluntarily incurred debts is someone who is a deliberate f-r-a-u-d-s-t-e-r.

Anyone who is still languishing in such a state of economic ignorance must stop listening to NWO Change Agents like Ellen Brown and Alex Jones and Mike Rivero.

No.

No.

Cyril's picture

BUMP.

BUMP.

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Cyril's picture

Thank you for posting, Steve.

Thank you for posting, Steve. Bookmarked for watching a little later.

"Death spiral" or "debt spiral"?

Wait... Dumb me. That's the same thing.

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

SteveMT's picture

Yup, it's the same thing, although it's 'death' spiral,

A double entendre,...good point. Thanks.

Just used that fast embed feature, nice.