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| econ 101; time for some peter schiff | |
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| Tweet Topic Started: Feb 11 2009, 11:21 AM (148 Views) | |
| troubleatiu | Feb 11 2009, 11:21 AM Post #1 |
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alot of you guys know him, those of you who dont need to get aquainted with him now. lars, again, this is with you in mind. not only does he claim obama's plan will lead to "unmitigated disaster" but he lays alot of blame at the feet of the federal reserve. im going to put this up then search youtube for other clips of him. everybody needs to heed his advise. http://finance.yahoo.com/tech-ticker/article/169781/Peter-Schiff-Stimulus-Bill-Will-Lead-to-%22Unmitigated-Disaster%22?tickers=%5Edji,%5Egspc,QQQQ,SPY,DIA,TLT,UDN |
![]() "The illegal we do immediately. The unconstitutional takes a little longer."--Henry Kissinger "What luck for rulers that men do not think."- Adolph Hitler "Terrorists don't want your freedoms--they want your life. It's dictators and tyrants who want your freedoms."-author unidentified | |
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| HoosierLars | Feb 11 2009, 11:30 AM Post #2 |
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I agree with most of what Schiff says. If the Fed starts printing money, we could have hyper-inflation. |
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| troubleatiu | Feb 11 2009, 11:41 AM Post #3 |
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the fed WILL print money. it has no other options. thats why more than any other reason it needs to be dissolved. phil, old school and myself have hammered this for a year now. whats going to happen when the bond market collapses? what am i going to do? im already out of work. unemployment continues to rise... how can i exist without a job and hyper-inflation taking hold? |
![]() "The illegal we do immediately. The unconstitutional takes a little longer."--Henry Kissinger "What luck for rulers that men do not think."- Adolph Hitler "Terrorists don't want your freedoms--they want your life. It's dictators and tyrants who want your freedoms."-author unidentified | |
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| troubleatiu | Feb 11 2009, 11:45 AM Post #4 |
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the banks are WORTHLESS. i love how schiff bitchslaps the bear of the group (lekamp). at the end even he (lekamp) wont admit to buying bank stocks. |
![]() "The illegal we do immediately. The unconstitutional takes a little longer."--Henry Kissinger "What luck for rulers that men do not think."- Adolph Hitler "Terrorists don't want your freedoms--they want your life. It's dictators and tyrants who want your freedoms."-author unidentified | |
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| troubleatiu | Feb 11 2009, 12:04 PM Post #5 |
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lars, is that bald headed idiot arguing aginst schiff you? i know youre starting to come around now, but he sounds like you not so long ago. |
![]() "The illegal we do immediately. The unconstitutional takes a little longer."--Henry Kissinger "What luck for rulers that men do not think."- Adolph Hitler "Terrorists don't want your freedoms--they want your life. It's dictators and tyrants who want your freedoms."-author unidentified | |
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| HoosierLars | Feb 11 2009, 01:38 PM Post #6 |
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There's a huge difference between printing money and selling treasury bills. The irony here is people will continue to want US treasuries because much of the world is worse off than us, and when the shit hits the fan, nothing is more dependable. |
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| HoosierLars | Feb 11 2009, 01:47 PM Post #7 |
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I totally agree that bigger government and more bureaucracy only makes things worse. We'll get to see how The Messiah does the next two years. |
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| Old_School | Feb 11 2009, 03:22 PM Post #8 |
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Defender of Mars, Kicker of Ass
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If? Posted Image |
The poster formerly known as mybracketownsyou.
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| troubleatiu | Feb 12 2009, 11:46 AM Post #9 |
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"There's a huge difference between printing money and selling treasury bills. The irony here is people will continue to want US treasuries because much of the world is worse off than us, and when the shit hits the fan, nothing is more dependable."-lars didnt schiff say in one of the above videos that the bond market was going to collapse next? heres an article backing him up. listen...the WORLD is entering into DEPRESSION. WHO will continue to buy our debt? its not going to happen. there comes a point where just as the american "consumer" refuses to spend or take on more debt, foreign governments will do the same with our treasuries. you ASSUME that this market will continue to not only exist, but FLOURISH. what IF it COLLAPSES? Deluge of Financial Calamities Looming by Mid-March By Patrick A. Heller, Market Update February 10, 2009 As horrible as the financial news for currencies and paper assets has been since mid-2007, it looks like the worst is yet to come - perhaps as early as next month. Over the weekend the Managing Director of the International Monetary Fund (IMF), Dominique Strauss-Kahn, told a gathering of Southeast Asian central bankers that the world's advanced economies are already in a depression and that the financial crisis may deepen unless the banking system is fixed. On Febr. 4, Paul Wolfowitz, the former president of the World Bank, said the IMF and similar institutions are incapable of coping with the global financial crisis because they do not have enough resources. The market appears to have turned on U.S. Treasury debt. Analyst Adrian Douglas issued a report on Sunday titled "Bond Market Collapse Unfolding." He used his proprietary Market Force Analysis on the price of the 10-year U.S. Treasury Note. Last September and October, as the value of Treasury debt was falling, it looked almost certain that the U.S. Treasury entered the market to purchase its own debt! This had the effect of boosting the price of Treasury bonds. However, the futures market for 10-year Treasury debt shows that there have been far more sellers than buyers for more than the past six months, a strong sign that bond prices are destined to decline in the near term. For the past eight weeks, Treasury bond prices have indeed been generally declining (i.e. interest rates have been rising). The U.S. government is almost certain to intervene again, as the Treasury debt is the most important in the world, and whose collapse could wreak havoc across the global financial system. The problem is that the U.S. government is going to have to float massive additional amounts of new Treasury debt in order to immediately finance the second $350 billion of the bank bailouts and the nearly trillion dollars for the new so-called "economic stimulus" program. If almost everyone else is selling and the U.S. Treasury is the primary buyer of its own outstanding bonds, who is going to buy the newly issued debt? *edited*- to put in bold the main points of the coming collapse. Edited by troubleatiu, Feb 12 2009, 11:57 AM.
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![]() "The illegal we do immediately. The unconstitutional takes a little longer."--Henry Kissinger "What luck for rulers that men do not think."- Adolph Hitler "Terrorists don't want your freedoms--they want your life. It's dictators and tyrants who want your freedoms."-author unidentified | |
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| troubleatiu | Feb 12 2009, 12:33 PM Post #10 |
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http://www.globalresearch.ca/index.php?context=viewArticle&code=HUD20090211&articleId=12265 hard to follow at times, but the author makes many good points here. some excerpts: Today’s economic collapse is the direct result of their planning philosophy. It actually was taught as “wealth creation” and still is, as supposedly more productive than the public regulation and oversight so detested by Wall Street and its Chicago School aficionados. The financial powerhouses created by this “free market” philosophy span the entire FIRE sector – finance, insurance and real estate, “financializing” housing and commercial property markets in ways guaranteed to make money by creating and selling debt. Mr. Obama’s advisors are precisely those of the Clinton Administration who supported trustification of the FIRE sector. This is the broad deregulatory medium in which today’s bad-debt disaster has been able to spread so much more rapidly than at any time since the 1920s. None of this can solve today’s financial problem. The debt overhead far exceeds the economy’s ability to pay. If the banks would indeed do what Pres. Obama’s appointees are begging them to do and lend more, the debt burden would become even heavier and buying access to housing even more costly. When the banks look back fondly on what Alan Greenspan called “wealth creation,” we can see today that the less euphemistic terminology would be “debt creation.” This is the objective of the new bank giveaway. The problem for today’s financial elites is that it is not possible to inflate another bubble from today’s debt levels, widespread negative equity, and still-high level of real estate, stock and bond prices. No amount of new capital will induce banks to provide credit to real estate already over-mortgaged or to individuals and corporations already over-indebted. Moody’s and other leading professional observers have forecast property prices to keep on plunging for at least the next year, which is as far as the eye can see in today’s unstable conditions. So the smartest money is still waiting like vultures in the wings – waiting for government guarantees that toxic loans will pay off. Another no-risk private profit to be subsidized by public-sector losses. The hardest task for today’s banksters is to revive opportunities for creditors to make a new killing. (It’s the economy that’s being killed, of course.) This seems to be the aim of the Public/Private investment company that Mr. Geithner is establishing as the second element in his plan. The easiest free lunch is to ride the wave of a new bubble – a fresh wave of asset-price inflation to be introduced to “cure” the problem of debt deflation. |
![]() "The illegal we do immediately. The unconstitutional takes a little longer."--Henry Kissinger "What luck for rulers that men do not think."- Adolph Hitler "Terrorists don't want your freedoms--they want your life. It's dictators and tyrants who want your freedoms."-author unidentified | |
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| troubleatiu | Feb 12 2009, 01:05 PM Post #11 |
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who is marc faber? ive never heard of him until i found this clip. "we have different economic schools: we have the austrian school, school of rational expectations..., and of course in the US we have a new school: its called the zimbabwe school..." lmfao. :rofl: "it is founded by one of the great leaders of this world, mr mugabe..." :rofl: this guy kills me. zimbabwe... home of 1000% inflation. (i think i really understated it.) |
![]() "The illegal we do immediately. The unconstitutional takes a little longer."--Henry Kissinger "What luck for rulers that men do not think."- Adolph Hitler "Terrorists don't want your freedoms--they want your life. It's dictators and tyrants who want your freedoms."-author unidentified | |
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| troubleatiu | Feb 12 2009, 01:25 PM Post #12 |
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another faber sighting...he's quickly becoming my new hero...theres a very pretty blond giving the interview and he laughs at her first question like, "you dumb cunt..." and continues to laugh at almost every question asked thereafter. ..."the next shoe to drop is in corporate profits, in commercial real estate, ...(points out bernecke and paulson's failures)...then says every asset bubble has gone down except government bonds...and i think that is the last shoe to drop here..." this interview was october, 2008. uncanny how he's on the mark. LARS, you still think US treasuries are a good bet? |
![]() "The illegal we do immediately. The unconstitutional takes a little longer."--Henry Kissinger "What luck for rulers that men do not think."- Adolph Hitler "Terrorists don't want your freedoms--they want your life. It's dictators and tyrants who want your freedoms."-author unidentified | |
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| troubleatiu | Feb 12 2009, 01:47 PM Post #13 |
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(on glen beck) more peter schiff, along with a former head of the st. louis federal reserve saying (gasp) this all sucks ass. i mentioned zimbabwe above, schiff has a $100 billion bill from zimbabwe that can barely buy a pack of chewing gum. btw, boilernla, ive often defended you here because i dont play partisan politics and despite the masses' opinion of you, youre not all bad. but for you to say glen beck is an idiot is a slap in my face. i dont agree with his GWOT or israel stance, but other than that, hes one of a small minority willing to take a stand. (im willing to forgive him on our differences.) i know you read my shit. whats your take? |
![]() "The illegal we do immediately. The unconstitutional takes a little longer."--Henry Kissinger "What luck for rulers that men do not think."- Adolph Hitler "Terrorists don't want your freedoms--they want your life. It's dictators and tyrants who want your freedoms."-author unidentified | |
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| troubleatiu | Feb 12 2009, 02:05 PM Post #14 |
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i hope you guys have the capacity to follow this thread. i hope im scaring the hell out of some of you. heres some jim rogers..." Q.) what steps need to be taken by paulson and bernecke to remedy this situation? rogers- "well, paulson and bernecke should resign, is the first thing. they should abolish the federal reserve and stay out of the way...let the market take care of this. bernecke claims to be an expert on the great depression...he doesnt know what hes doing..." |
![]() "The illegal we do immediately. The unconstitutional takes a little longer."--Henry Kissinger "What luck for rulers that men do not think."- Adolph Hitler "Terrorists don't want your freedoms--they want your life. It's dictators and tyrants who want your freedoms."-author unidentified | |
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| Old_School | Feb 12 2009, 02:16 PM Post #15 |
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Defender of Mars, Kicker of Ass
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Jim Rogers is closer to Lars, while Peter Schiff is closer to me. |
The poster formerly known as mybracketownsyou.
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9:32 AM Jul 11