Skip to comments.Peter Schiff – The Collapse Might Be Our Savior
Posted on 02/11/2013 11:34:17 AM PST by appeal2
Peter Schiff is a regular guest on FSN. He was way ahead of all the so-called experts, predicting the real estate crash at a time when Wall Street was still raking in the profits. We ran into him in the Bahamas at the Global Economic Summit. While others believe that country can still be saved, Peter believes that only a currency collapse, along with a complete cessation of easy credit is the only thing that can bring America to its senses. While there are certainly dangers from such an approach, it may be the only way to get Americans to accept the tough economic medicine that we so desperately need.
Listen to the Inteview
Indeed - the average, productive American worker and retiree is facing the non-stop water-torture of declining real wages, ever-higher taxes, zero interest on savings, higher costs in Gov’t-controlled education and health-care, and a unionized public sector workforce and Government in a corrupt feed-back loop that serves its interests first.
I say - let it collapse, the sooner the better. We will either wind up with an Argentine-style dictatorship or a return to real limited Gov’t, real money, and more personal freedom.
I’ll take my chances.
I believe for the sake of our children’s children we need a collapse, because this crazy spending is not sustainable....the crash will come sooner or later, and the later it happens, the worse it will be.
My only concern is when it happens that we will have armed conflicts when services and food get short which in turn open us to outside dangers and infiltration. The borders would need to be iron clad shut down during the reset.
It’s the sort of thing that led Germany to Hitler, Russia to Stalin, and Latin America and Africa to a series of Peronists and Chavists. I hope America is different, but I’m seeing a lot less evidence of that these days
History has been very clear on this point.
Geographically large nations split into more manageable pieces after economic chaos.
If there is a currency collapse there will not be a national reset.
I would not be surprised.....
“Geographically large nations split into more manageable pieces after economic chaos.”
And managed by warlords.
After a collapse of the dollar and we enter Great Depression II, I can’t see states like Texas sitting around and waiting for a come back. No. I see them seceding and going there own way.
You better hope that doesn’t happen. It is what European bankers wanted to happen in 1861. It is why Lincoln kept emphasizing, “The Union”. He didn’t give a rip about slavery.
Mexico is poised to invade the United States in the event of a collapse. Russia or China to take on Alaska. Will Canada mass troops along our northern border? Great Britain did, in 1861.
Do you know how fast Texas could put together an Army. About a week.
The only way for the American people to survive is to keep the Union together.
I suggest you view the documentary, The Money Masters, which explains how vicious and destructively diligent the European banks, especially the Bank of England, have been towards this nation, right from the start.
It shouldn't be surprising that someone named Schiff wrote this article. The Rothschild and Schiff families lived together in Germany during the 18th century, and together have carved out majority interests in all the world's central banks.
As for Texas, even today they can't get their damn act together concerning securing the border! Construction industry and agricultural interests in that state are opposed to shutting off illegal alien traffic. It is in their business interests to exploit this illegal labor. No, Texas must overcome their own internal greedy enemies before mounting a potential defense in the event of a collapse. I don't believe they can do it.
As to an economic collapse, I have no doubt it is coming, too. The Federal Reserve, which is a privately owned bank and NOT a part of our government, is tightening up the money supply while demanding other banks call in commercial loans, thus causing bankruptcies and high unemployment. This happened just before the Great Depression and the Crash of 1929.
“If we can go to our personally preferred warlord, that might be an upgrade. “
Think so? Does the term “serf” mean anything ot you?
Why would they invade when all they have to do is wait?
With Demographics Texas is already going back to Mexico within 10 years if amnesty passes or within20 if it doesn't
WTF? Peter Schiff is probably *the* most outspoken critic of the Federal Reserve and central banking in general. You must be confusing him with some other Schiff family.
The Federal Reserve, which is a privately owned bank and NOT a part of our government, is tightening up the money supply while demanding other banks call in commercial loans, thus causing bankruptcies and high unemployment.
The exact opposite is happening! The Fed is *adding* to the money supply. That's what "quantitative easing" is. This most recent QE regime is *adding* $45 billion per month to the money supply, in an effort to keep interest rates as low as possible.
"Tightening" is when the Fed removes liquidity from the system in an effort to increase interest rates. That is *not* what the Fed is currently doing.
They really don’t have to invade. Mexicans are already in the U.S.
Because the economic collapse is going to happen this year or next.
The cities will be under marshall law first, then Canada and Mexico will close their borders to keep everyone IN the US!
“”Tightening” is when the Fed removes liquidity from the system in an effort to increase interest rates. That is *not* what the Fed is currently doing.”
The Federal Reserve Bank of New York is holding over $1.6 Trillion. So why increase by $45 Billion a month the money supply? Because BHO2 is spending a lot of money!
Step 1. The Fed Open Market Committee approves the purchase of U.S. Bonds on the open market.
Step 2. The bonds are purchased by the New York Fed Bank from whomever is offering them for sale on the open market.
Step 3. The Fed pays for the bonds with electronic credits to the sellers bank, which in turn credits the sellers bank account. These credits are based on nothing tangible. The Fed just creates them from thin air.
Step 4. The banks use these deposits as reserves. Most banks may loan out ten times (10x) the amount of their reserves to new borrowers, all at interest. This is called Fractional reserve banking.
In this way, a Fed purchase of, say a million dollars worth of bonds, gets turned into over 10 million dollars in bank deposits. The Fed, in effect, creates 10% of this totally new money and the banks create the other 90%.
And people wonder why the U.S. is so deeply in debt.
Gosh, Kevao - it sure reads like a Ponzi scheme to me.
And beat the crap out of them in less time. And . . . the Gringos won't be going back home like the last time.
You are crazy. Nobody is going to pick over the bones of the Republic of Texas(and any other states that wish to align with her). It is the other way around. The USA government is HOLDING back Texas.
I’ve told my kids the same thing. People, understandably, don’t think about what happens after the collapse, but the bottom line is that the country, usually, will still exist. It will be much poorer, but a lot of stuff will be reset. The country just might pull out of it and do well (like Russia, now), or it might reach a critical mass of “takers” and never pull out (like Argentina, now).
The only thing certain: We are going down...the only question is how we pull out.
My post to you was simply to take issue with your comment that:
The Federal Reserve, which is a privately owned bank and NOT a part of our government, is tightening up the money supply
My point was that the Fed is not "tightening" right now, but rather "easing."
And, in response, you gave a long, eloquent, and very accurate summary of what the current Fed policy is. That whole bit you wrote about the Fed purchasing bonds and adding reserves to the banking system, is the very definition of easing.
So I think the confusion here is, you are confusing "tightening" with "easing."
Gosh, Kevao - it sure reads like a Ponzi scheme to me.
A Ponzi scheme is different from what the Fed is doing. In a Ponzi scheme, the first guys in profit, the last are left holding the bag.
What the Fed is doing harms *everyone* who holds dollars and is more aptly described as currency devaluation, savings erosion, destruction of purchasing power, an assault on the value of the US$.
And, returning to Peter Schiff, I would urge you to Google his name and watch any number of his videos. You'll find he (as was his father) is just as much a critic of Fed policy as you or I. How you mixed his family in with the Rothschilds and the other pricks who conspired to create the Creature From Jekyll Island in 1913 is beyond me.
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