Peter Schiff on CNBC: calls US econ giant ponzi scheme ready to collapse

Sad stuff; Schiff tears the US econ a richly deserved new one while some old tired windbag repeats the same old rusty merry-go-round bubble everythings-just-fine tune. Nothing you don't already know.

The interesting thing about this one is that the CNBC main caster sides with Schiff for the first time I've ever seen, which strikes me as fairly signifcant. CNBC is a big part of The Beast...having CNBC openly entertain talk of depressions and comparisons involving Madoff and Argentina on a serious level is like a whole shelf of ice caving off the antarctic or something.

I'm freaking loving it. These MSM reptiles are finally getting their comeuppance is all I can say; I wish the board terms and conditions allowed for more colorful metaphoric range at such times, lets just say...

YouTube Link

[edit on 6/9/09 by silent thunder]

reply to post by silent thunder

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Micheal Mussa works for the Peterson Institute for International Economics. Here is a list of the Board of directors for said institute. Notice David Rockefeller, Lynn Forester de Rothschild, Paul A. Volcker, and Alan Greenspan (Honorary Director).

If I could kiss Peter Schiff I would.

He's one of the few bright lights out there who actually know what they are talking about.

Good find, star/flag

Gotta love the everlasting smirk on Mussa's mug while Schiff is giving him an education. What's with these outdated, burned out, and useless comparisons of the present economy with recessions of the last 70 years? My guess is that "Mussa's" believe there are still some suckers out there

reply to post by TypeSH2001

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It's easy to believe the lies if you percieve that it doesn't effect you. Mussa and his cohorts seem to revert to the 'Let them eat cake" frame of mind!

Zindo

reply to post by silent thunder

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I like his honesty.

"There is no way that we can pay that money back"

Anyone listening?

I dont care what anyone says even though peter schiff lost upwards of 50% during the plummet last fall he is still so acutley aware of where we are headed.

The man sees things for what they really are, always enjoyable seeing him put these mouthpieces of the corrupt establishment in their place.

It is a ponzi scheme...apparently, people like Madoff and others would never have become so wealthy without wll street..somones gotta launder the money and fake the cachs books.. Look at hte proposed audit of the FED bill, and that woman hired to make things look good this past week for the FED.. its in our face cover up! Clearly, they have someting to hide.
I doubt it will collapse...ive been reading schiffs headlines for the past 8 months or so..same thing.. the end is coming, the end is coming...im not going agianst him, i admire him..but its kinda gettin overplayed to me. Bilderbergs had thier scandelous meeting recently, and its reported, supposedly, they might want ot get things back on track now somehow, fearing theyde loose billions of $$$ so whats really gunna hppen is anyones guess...
Kinda dosnt make sense though...i mean, why would the bilderberg wanna clean things up, when their intention is bascially public enslavement and global domination>?

Am I the only one who can't here this video?

Sorry for being off topic... but it is so hard to ignore how fugly Michael Musso is...

Am I the only who thinks the evil stooges of the NWO are fat and ugly as sin? This Michael Musso is not only dumb as rocks but he looks like a troll. Dick Cheney, the Rockefellers, Nancy Pelosi, Karl Rove, Bernake, you name it. They all look like trolls. Maybe thats from their constant inbreeding... who knows.

reply to post by Anonymous Avatar

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No its not from inbreeding. Its from when people do evil things its transforms their aura their appearance also suffers they become like you said troll like or disfigured in a way. As opposed to those who do well have a brightness to them a beauty that cant be diminished with age or even poor genes.

Look at some of these people deeply and you will see they have a dark aura then look at others who try to do good for people and you will see how their aura is much brighter.

Great video..thanks for posting..

So when are the news channels going to start date/time stamping..with all the 'stuff' scrolling around on the screen...you would think they would put a little date stamp somewhere so you could see when these videos are from..

was this recently? Trying to remember when the dow was down 100+ in one day and in the 8800 range..I'm thinking this is a few months ago??

I love watching anything with Schiff in it tho..thanks again


Edit.. I guess this could have been from this last week..haven't been watching the markets every day like I used to lol

[edit on 6/9/2009 by toepick]

Do you think we will listen to Mr. Schiff this time? Probably not. At least the news anchors are showing him a little more respect this time.

I gotta say, his plan (tough it out, let companies fail) doesn't sound to appetizing. It would just cause another mess of problems just as bad as what we are facing. Lets face it, we're damned if we do and damned if we don't. The dominoes have already begun to fall. America is collapsing.

reply to post by Desolate Cancer

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If you're really seeing auras you may want to have your eyes checked.

Our economy has been on a highway to hell for a long time, this might be the final blow, or it might be just another big dip in our progress to the US' climax.

And yes, they do all look like trolls, probably because they are.

This is definitely one of the funnier posts I've read here in a while! What makes it funny is that it's true, and I agree with the poster below this one about how doing ugly things makes for an ugly person.

I wish they would make an MMORPG out of this fiscal crisis.

And who would want to. These bailouts were nothing more than an attempt to reimburse investors for their bad investments and the bad loans they made to people that were living far and above their means. Our whole economy is a sham scam based upon cheating fiat funny money.

The PTB is loosing their control of their plans. Their empire is crash down around them. If you want to beat these crooks at their own game, STOP playing along. Stop spending. Stop borrowing. Stop buying anything you don't absolutely need and SAVE your accumulated wealth (convert it to something tangible, such as gold, jewels, land). Yeah, we will be hurting too because of it, but who said WAR was painless? You want to take back your freedom, your rights, your country, CRASH the evil empire and return the land to the people and institute a government that WORKS for US, instead of for those that are trying to dominate and control your lives.

Seriously, CUT every darn last unnecessary little expense from YOUR budget. No more Starbucks in the morning on the way to work. Keep that old car running a while longer and don't buy a new one. Stop going out for dinner and a movie every weekend. Cancel that vacation. Come on, you can do it, don't be a wussy. Think of the sacrifices your soldiers are making to fight evil, look at the sacrifices they are having to make for YOU. Come on, you can make some sacrifices too. By reducing your spending, you are bankrupting the elite, the wealthy, the PTB that want to keep you suppressed, poor, in debt, and enslaved. And, reduce and save for your own sake, be prepared for the big crash and burn. Stock up on necessities that will become scarce when the dollar crashes and no other nation wants the stuff as payment for that which we import from them. By doing so, you'll revive American manufacturing. Just DO IT! Don't play along with the PTB .. resist and drive THEM into the poor house.

The most shocking thing to me is that he says the Chinese (and others) will never get their purchasing power back. I can't believe i'm living in this day in age. What has the world come to when the US can borrow money from China to live an extravagent lifestyle, then pay them back with worthless dollars? This is truly a crisis on an unprecedented scale. It's a crisis of humanity when one set of people can F^%& over the rest of the world in order to have a few generations of imaginary prosperity.

Thanks for vid...that was a good one.

Peter Schiff is right I believe....I hope he runs for Senate!

The Musso guy just looks evil...anyone else feel that way?

Schiff bags him another turkey! He's way over his limit for hunting season in these parts.

Peace

And neither will you, that's the WHOLE POINT of fiat/funny money.

Think about it. What did you earn for an hours wage 20 years ago? Probably enough to buy lunch, a gallon of milk, and a loaf of bread, at least, right? (assume so, okay, ha). Now, what if you decided to keep that hours wage in your pocket for 20 years instead of spending it back then for those 3 things I mentioned. Could you take that hours worth of wages out of your pocket today and still buy those same 3 things? NOT! NOT even close! If you are lucky, you might be able to buy one of those 3 things with it today.

THAT IS how YOU are being ROBBED too!

Now, suppose you were paid in gold 20 years ago for that hours wage. Do you think you could buy those 3 things today with that gold?

Fiat money is a Ponzy scheme. It allows for CHEATING .. it allows THEM to ROB you of your hard earned income and wealth. It's how they keep YOU poor and down and in debt! If we were paid in gold instead, we all could probably retire after 20 years of working and live quite well.

A fiat/funny money based economy is how they keep you ENSLAVED!