PETER SCHIFF ~ US Banks Are Worthless ~ Kudlow & Co. 1/20/2009

peaceandlove · 01-21-2009, 08:33 PM

PETER SCHIFF ~ BANKS IN CRISIS ~ Kudlow & Company 1/20/2009

SOURCE: http://www.campaignforliberty.com/

VIDEO LINK: http://www.youtube.com/watch?v=-bJpM...orliberty.com/

piers2210 · 01-22-2009, 01:38 AM

Remember one fact that came out of the Ron Paul interview - the US Treasury has increased the money supply in the USA by 70% since October....that is an unbelievable statistic. The printing presses are running 24/7 as i write.

What does that mean : the massive devaluation/crash of the dollar in the not-too-distant future. At the same time, the central bankers have just met to "discuss the introduction of a new currency"...which they are not obliged to reveal anything about to the punters who pay their salaries.

So all we can assume is that we will shortly witness in the western world reduced value of the currencies we have to pay for things in. So the money in your bank is worth less. Its already happening big time in the UK. The pound is already approaching banana republic status. And as Peter Schiff says, the incompetent people that have brought about this crisis are still in the top positions, and no one is addressing the root problems still.

Connecting with Sauce · 01-22-2009, 07:10 AM

Inflation is allegidly 3.1 % or something similar... All our pay deals (those with jobs) is being set based on this... what a scam!

Has noone noticed that fruit and veg is now up 30% since november! Especially cucumbers! ... deflation my bottom!

Wouldn't be so bad if we actually made anything rather than import it all.

piers2210 · 01-22-2009, 12:40 PM

Yes, it was interesting when the subject in the Ron Paul interview got onto "inflation"...or shall we say "hyper-inflation", because with an increase in the US money supply of 70% since October (that statistic still blows my mind) you are talking of inflation far exceeding small percentage increases.

The interviewer asked Paul if he thought the USA might reach Weimar Republic wheelbarrows of money status, to which Paul replied that it wouldn't go that far, but they were talking about obvious significant inflationary pressure...how could there not be with such a massive increase in the money supply??

This affects all economies which are inextricably tied to the US economy ie the UK for one. And we in the UK already have a currency that is fast approaching banana republic status as a world currency. That means we cant import foods and products we need...because everything is too expensive.

Enjoy luxury products while you can!

DAYDREAMER · 01-22-2009, 01:47 PM

China has sentenced the people responsible for the toxic powdered milk scandal that reportedly killed 6 infants and made 300 000 very sick, to life sentences, huge fines and some death sentences.

Why has the US not done any prosecuting of those responsible for the huge global financial crisis that came from firstly US banks giving mortgages to anyone - anyone could qualify, no job needed, no income needed, no security, no good credit history. Somehow the banks thought it would be a good idea. Then what the banks did has to sell their mortgage business or portfolio with all these loans (called toxic debt), to other banks and investment businesses worldwide, but they were supposed to be good, guaranteed profit and they had a rating given to them indicating this( wrongly), so of course other banks bought them. Then of course those people with no jobs and bad credit history who got mortgages could not pay for their mortgages and wham bam credit crisis.

I'm not saying give them death sentences, but huge fines, prison sentences and seizing the funds that they made by cheating the system would be appropriate.

It would be interesting to find out who is responsible, maybe the Rockerfellers and Illuminati???

Steve_A · 01-22-2009, 01:47 PM

Hi piers2210,

You can say that again about the Pound. I transfered some money from the UK to here in Brazil, and within a week during the process, the Pound went from 3.47 to 3.23 against the Brazilian Real. The Brazilian Real!

I firmly beleive that 1st World currencies are in for a rough time and some organized developing countries will, in the short term, suffer because of parity between currencies making exports more difficult, but bettering themselves as international markets shrink, national markets become the way to go and standards of living change.

The rate of illegal immigration in the US has gone rastically down, with even some immigrants going back to their countries of origin, because living standards are better, leaving the dishwashing jobs to those Americans who are presently unemployed.

Could it be that the Schiff will hit the fan? Probably.

Best regards,

Steve

Quote:

Originally Posted by piers2210

Yes, it was interesting when the subject in the Ron Paul interview got onto "inflation"...or shall we say "hyper-inflation", because with an increase in the US money supply of 70% since October (that statistic still blows my mind) you are talking of inflation far exceeding small percentage increases.

The interviewer asked Paul if he thought the USA might reach Weimar Republic wheelbarrows of money status, to which Paul replied that it wouldn't go that far, but they were talking about obvious significant inflationary pressure...how could there not be with such a massive increase in the money supply??

This affects all economies which are inextricably tied to the US economy ie the UK for one. And we in the UK already have a currency that is fast approaching banana republic status as a world currency. That means we cant import foods and products we need...because everything is too expensive.

Enjoy luxury products while you can!

piers2210 · 01-22-2009, 04:26 PM

Hi Steve,

Its amazing how the UK Pound has bombed...i've been working with some people to set up a jazz club in Manila, Philippines over the last year and i've had to pull out cos the pound has dropped by 40%... yeah thats 40%... against the peso...err...that s the philippines peso, one of the worlds weakest currencies.

and we don't know where the bottom is yet.

Great expression, the "shiff hitting the fan"...actually i'm a huge fan of peter schiff, a financial star, and realist.

regardless of the economy, miles davis's "kind of blue" is stiil the best jazz album ever.

Atb,
P.

01-21-2009, 08:33 PM	#1
peaceandlove Avalon Senior Member Join Date: Sep 2008 Location: Turtle Island Posts: 2,776	PETER SCHIFF ~ US Banks Are Worthless ~ Kudlow & Co. 1/20/2009 PETER SCHIFF ~ BANKS IN CRISIS ~ Kudlow & Company 1/20/2009 SOURCE: http://www.campaignforliberty.com/ VIDEO LINK: http://www.youtube.com/watch?v=-bJpM...orliberty.com/

01-22-2009, 01:38 AM	#2
piers2210 Avalon Senior Member Join Date: Oct 2008 Posts: 403	Re: PETER SCHIFF ~ US Banks Are Worthless ~ Kudlow & Co. 1/20/2009 Remember one fact that came out of the Ron Paul interview - the US Treasury has increased the money supply in the USA by 70% since October....that is an unbelievable statistic. The printing presses are running 24/7 as i write. What does that mean : the massive devaluation/crash of the dollar in the not-too-distant future. At the same time, the central bankers have just met to "discuss the introduction of a new currency"...which they are not obliged to reveal anything about to the punters who pay their salaries. So all we can assume is that we will shortly witness in the western world reduced value of the currencies we have to pay for things in. So the money in your bank is worth less. Its already happening big time in the UK. The pound is already approaching banana republic status. And as Peter Schiff says, the incompetent people that have brought about this crisis are still in the top positions, and no one is addressing the root problems still.

01-22-2009, 07:10 AM	#3
Connecting with Sauce Avalon Senior Member Join Date: Sep 2008 Location: Chelmsford, Essex Posts: 650	Re: PETER SCHIFF ~ US Banks Are Worthless ~ Kudlow & Co. 1/20/2009 Inflation is allegidly 3.1 % or something similar... All our pay deals (those with jobs) is being set based on this... what a scam! Has noone noticed that fruit and veg is now up 30% since november! Especially cucumbers! ... deflation my bottom! Wouldn't be so bad if we actually made anything rather than import it all.

01-22-2009, 12:40 PM	#4
piers2210 Avalon Senior Member Join Date: Oct 2008 Posts: 403	Re: PETER SCHIFF ~ US Banks Are Worthless ~ Kudlow & Co. 1/20/2009 Yes, it was interesting when the subject in the Ron Paul interview got onto "inflation"...or shall we say "hyper-inflation", because with an increase in the US money supply of 70% since October (that statistic still blows my mind) you are talking of inflation far exceeding small percentage increases. The interviewer asked Paul if he thought the USA might reach Weimar Republic wheelbarrows of money status, to which Paul replied that it wouldn't go that far, but they were talking about obvious significant inflationary pressure...how could there not be with such a massive increase in the money supply?? This affects all economies which are inextricably tied to the US economy ie the UK for one. And we in the UK already have a currency that is fast approaching banana republic status as a world currency. That means we cant import foods and products we need...because everything is too expensive. Enjoy luxury products while you can!

01-22-2009, 01:47 PM	#5
DAYDREAMER Avalon Senior Member Join Date: Jan 2009 Location: United Kingdom Posts: 57	Re: PETER SCHIFF ~ US Banks Are Worthless ~ Kudlow & Co. 1/20/2009 China has sentenced the people responsible for the toxic powdered milk scandal that reportedly killed 6 infants and made 300 000 very sick, to life sentences, huge fines and some death sentences. Why has the US not done any prosecuting of those responsible for the huge global financial crisis that came from firstly US banks giving mortgages to anyone - anyone could qualify, no job needed, no income needed, no security, no good credit history. Somehow the banks thought it would be a good idea. Then what the banks did has to sell their mortgage business or portfolio with all these loans (called toxic debt), to other banks and investment businesses worldwide, but they were supposed to be good, guaranteed profit and they had a rating given to them indicating this( wrongly), so of course other banks bought them. Then of course those people with no jobs and bad credit history who got mortgages could not pay for their mortgages and wham bam credit crisis. I'm not saying give them death sentences, but huge fines, prison sentences and seizing the funds that they made by cheating the system would be appropriate. It would be interesting to find out who is responsible, maybe the Rockerfellers and Illuminati???

01-22-2009, 04:26 PM	#7
piers2210 Avalon Senior Member Join Date: Oct 2008 Posts: 403	Re: PETER SCHIFF ~ US Banks Are Worthless ~ Kudlow & Co. 1/20/2009 Hi Steve, Its amazing how the UK Pound has bombed...i've been working with some people to set up a jazz club in Manila, Philippines over the last year and i've had to pull out cos the pound has dropped by 40%... yeah thats 40%... against the peso...err...that s the philippines peso, one of the worlds weakest currencies. and we don't know where the bottom is yet. Great expression, the "shiff hitting the fan"...actually i'm a huge fan of peter schiff, a financial star, and realist. regardless of the economy, miles davis's "kind of blue" is stiil the best jazz album ever. Atb, P.