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Peter Schiff Responds to Obama Speech to Congress

Excellent message. Peter is 1000% correct that Obama's speech reveals a total lack of understanding of basic economics:


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It's not just inflation...

The mass printing of money creates inflation, and it also is a massive redistribution of wealth. Obama will be doing a great job of destroying the middle class with his reckless spending.

Thanks for posting hadn't seen that


Good Post

Had to listen to this one twice.

Save the US economy ???

You must be new. Let me help you out, if I can. There is "No" saving the US Economy. It is crumbling because it was built on a faulty foundation of debt based money. We must save our OWN economies, so we have resources to rebiuild with...once the collapse if complete. The more the Government and Central Bankers resist, the longer and more painful it will be. Save yourself, so you can help rebuild. Most people will be completly wiped out...let's hope it's not many of us as well.

and the truth shall set you

and the truth shall set you free!

"When governments fear the people there is liberty. When the people fear the government there is tyranny."
-Thomas Jefferson

I am more concerned about the return of my money than the return on my money. --Mark Twain

Make no mistake follow-up

This is one of the most efficient tools they have; Feigning ineptitude. We have to attack this at every turn. Their cloaking device must be taken away from them.

Make no mistake...

Good analysis by Schiff, except on one crucial point: That Obama's course of action is the result of a lack of understanding of basic economic principles. Believe you me, the powers behind Obama understand full well what the results are going to be. The despair that this course of action is going to provoke, will drive millions into the streets, and give them an excuse to finish cracking down on what's left of our freedoms. To see them as bungling idiots is a grievous mistake, and plays right into their hands.

I agree 100%

This is not an error or a mistake. This is EXACTLY the agenda that will lead to a prolonged "crisis" and hot tempers that will allow them to invoke martial law, etc., etc.

I agree...

They know exactly what they're doing and they're thinking hahahaha while they're doing it!

Getting rid of the money

Getting rid of the money system in total is the only way "savings" of human time capital will ever happen again.

Conservation of energy mF!!! Time energy release is the only commodity, everything else is some human implementation of control over other human time energy and release.

is there a youtube version of this yet?

i can't find one.



i have my facebook set up to download all my 'favorite' youtubes automatically. less work on my part! :)

Save WHAT?!?!

Fiat dollars? True saving is against the law. What in the hell does Schiff want us to save?


When paper money didn't exist hundreds or thousands of years ago...people saved gold

Go buy some and store/save it


YES! That is what I have been screaming at every Ron Paul dissertation and Schiff both of late.


Profiteers, gotta love'em. They are becoming just as see-through at least these days. It is just to "complex" for us "simple" folk to understand. We should just shut up hahaha.

The sad thing

The sad thing is that whenever Schiff or Paul get media coverage, they NEVER talk about the evils of fiat money, about precisely how it destroys the economy and ability to save, and they don't talk about what system we should replace it with. They just talk about "debt is bad" and "savings is good", and most people are just going to hear "Saving worthless paper is good!" which is just like lining up the sheep for inflation slaughter.

Schiff uses the point that

Schiff uses the point that credit is based on savings to illustrate how our credit system is doomed to failure. If you're looking to preserve your own wealth, Peter says get OUT of the dollar and into gold and foreign investments.



We help the American economy by saving gold and investing in foreign stocks?! His solution sounds worse than the problem!

no, you're preserving your wealth for you and your family.

you care about that right??

he's suggesting to plan for a worst case scenario... hence the gold and investing in foreign stock advice.

does it really look like he's gonna be wrong? not to me.

he gave other advice to save the usa econony. i don't see any indication that THAT is gonna happen. do you? addicted consumers SAVE money in the bank? the masses understand where capital comes from?

NONE of my friends understand that. AT ALL!!

i'm emailing this video and the youtube of RP's opening comments today.

i think they MIGHT get it.

Schiff is addressing the ECONOMIC SYSTEM

If individuals just save gold and invest in foreign stocks, then we'll all starve. But at least we'll have lots of gold.

you missed something. there are two issues.

the economic system AND preserving your personal wealth.

did you see the video from this thread?


BO also says that the

BO also says that the economy is going to take time to right.It would have done that anyway if the government did nothing.
Everyone should realize that the government controls too much of our lives.Their intervention is what caused it and further intervention will make it worse.
Thanks for the video.

...law is often but the tyrant's will, and always so when it violates the right of an individual." --Thomas Jefferson to Isaac H. Tiffany, 1819

13 No servant can serve two masters; for either he shall hate the one, and love the other, or else he shall lean to the one, and despise the other. Ye cannot serve God and riches. - Luke 16

no one in congress with any credibility - no one who stood up???

hey, peter, why did you not say "no one"? you should have said:

"EXCEPT congressman ron paul" - that burns my butt!!!

starts at 5:53

Ron Paul is my President

Ron Paul is My President

It's a good summary by Peter. I recall Obama's emphatic

declaration that he completely rejects the notion that government should stand aside and let the economy take care of itself. Although it served as no surprize, his declaration was about as good of a summary (of things to come) as I've heard. The keynesians are at the helm. The wisest advice would be to make sure that you have your life jacket handy and aren't too far away from a lifeboat. That's the advice I extracted from Peter's summary.
"An economy built on fiat money is a society on its way to ashes."

"An economy built on fiat money is a society on its way to ashes."

I loved it!

I loved it! Especially the comparison to a diet.

Why America is different to

Why is United States different to other big spender nations? Venezuela accumulated inflation in 2008 hit 31%

I give so much credit to people like Peter and Ron Paul

who have the fortitude to keep repeating the same truth over and over. God love 'em both! And for those of us with ears to hear, we will take heed and do what we can with what we've got to safeguard as much as we can from the coming disaster.

I wish Schiff was Treasury Secretary, we would be in a much

better position then.


How so? He makes a good living from our decline.

Way I see it, if he were Treasury Secretary, the only difference is he could say, "just as I thought" rather than, "no one could have predicted". And then he's probably say, "and I'm making tons from the collapse---bombs away!!"