Peter Schiff "There Will Be Riots In The Streets"

This video is a 12 minute interview with Peter Schiff, the guy who predicted the economic collaspe in 2008 and nobody would listen. He says that we haven't seen anything yet. This video tells it all and I for one believe everything that the guy says will happen. Gas and food prices keep rising and the dollar is falling.



If it doesn't embed here is the link.
www.youtube.com...

He has about as much faith in our present government that I do. DC will never do a 180 degree turn into the right direction, so it looks like we are in for a really rough ride IMO. When it gets really bad, people will start rioting...Thoughts?

Yep peter is right and he's been right in the past which is the scary part. Its not like he speaks in crazy economic terms that you can't understand. Pretty simple when it comes down to it. Just watched this video from 2006. lol.




I just found out that his dad has been in prison for a while now cause he says the income tax is unconstitutional.

I haven't heard about this guy for a while now. I am aware that he predicted the economic trouble we were heading into around 08, but....

Didn't he also continue to predict a few things that never came to pass in regards to the markets and timing, basing his legitimacy to accuratley predict these things off one positive hit?

I could be wrong, I'll do some digging, but maybe someone else knows off the top of your noggin.

If not, then I would give more credence to his predictions.

reply to post by mayabong


So he predicted it back in 2006. Thanks for posting that video. This shows that he was right before and I also think that if we listen to anybody it should be this guy. I've been watching for a while for QE3. I know it's coming because TPTB think they can just keep printing money and everything will be alright.

Ron Paul 2012

reply to post by Lighterside


I'm not sure what you are talking about but i'm sure he did predict some things that didn't come to pass. He probably didn't see that the Fed would end up monetizing the debt. Everyone that interviews him these days wants him to give a date, but he seems not to do that.

reply to post by Lighterside


You could be right about "other predictions" I'm sure if there were, someone on here will know about it. That's what I love about this site.

I still will listen to him since he did predict the economic disaster that we are still going through. And I don't personally think it will get any better with the current people in charge in Washington, from both sides of the aisle

reply to post by mayabong


I find the things he says very interesting. Seems like economic advisers and such can spin things any way they want and have it fly right over people's heads. The way he describes things make sense to me.

I don't think he can give a date to when this happens. You can lay a tile floor over an unsound subfloor. When it's finished it looks great. But eventually as the floor starts to move more underneath the tile, the grout cracks and eventually the tile too. Nobody knows exactly when it will happen but rest assured it WILL.

BTW... first post. Can't wait to get slammed!!!

reply to post by Kindling


Welcome. No slamming here, I totally agree.

Yep Peter Schiff keeping it real! i just came to post this video and found this thread. Interesting that he says the economy is on life support now and they have to lower the rates to zero and if they do not its like pulling the plug. i have been saying this for that last couple years. People do not realize how close we are to complete collapse

Everyone needs to watch the video!

S&F!

double post

There is certainly need to be concerned.

At the same time - people, and society, are a little more robust than the value of currency.

People need food, water, goods, and services. That's part of why we form connections and social relationships - a sort of survival instinct based around cooperative efforts.

While an economic collapse (inevitable unless some of the fundamental problems in Washington are adjusted) would be pretty devastating - I do not think it would be apocalyptic. Don't get me wrong - there will be plenty of people who suddenly find that performing arts degrees don't quite put food on the table like they used to - and there will probably be some riots and social unrest.

That will eventually wind itself down as the population thins to a number that can be supported by more local economies. Some of it will be brought about by people moving from areas of high density to areas of lower density, and another portion of it will be from casualties as different interest groups clash - likely with lethal force.

But, at the same time, I think people will find new opportunity. People with skills and trades will be able to simply take up their trade without having to worry about having the proper permits, certifications, etc. When you need an electrician to look at your house (or work on the local power plant) - you just care that they can do it correctly and safely. A doctor isn't going to be frowned upon so long as he doesn't quack as much as a duck. Jobs and professions will very quickly adopt a pay/barter system more representative of their actual worth to society.

What it all comes down to is we all want to be here to see tomorrow. Our desire to do that will overcome the challenges of the collapse of the dollar's value. It may not be easy - and it may not be a rosy picture for everyone. But most of us will live through it, and be stronger for it - should it happen. It's what humans do best - adapt and survive.

Unfortunately people won't roit because they're too lazy and have short term memories. The government will keep playing a shell game with the economy and using whatever tools and artifical methods they have to prop it up. Gas prices went up unbelievably this year, but where is the same level of outrage like when Bush was in office? Food prices have been going through the roof for the past year, what is the government doing about that? The morons in Washington will never be able to balance the budget, nevermind tackling 14 trillion dollars of debt. Government needs to be ran more like a business and less like a liberal hand out mechanism. Cut all foreign aid, close all foreign bases except critical ones, end corporate welfare, gradual raise the ss retirement age, come up with realistic overhauls to ss/medicare, close tax loopholes and simplify the tax code and invest heavily in domestic manufacturing and renewable energy and maybe, just maybe we can start to turn the ship USA around. My fingers aren't crossed though.

reply to post by peter_kandra



They can't play the shell game forever in fact they are right on the edge of collapse as Schiff said if they do not raise the debt ceiling and lower rates it will be like pulling the plug. However if they just keep doing that our creditors will pull the plug. We are at the proverbial rock and a hard place damned if we do and damned if we don't.

They will keep doing what they have always done it will prolong it a little longer is all and make the collapse worse.

Originally posted by kennylee
This video is a 12 minute interview with Peter Schiff, the guy who predicted the economic collaspe in 2008 and nobody would listen.

I like Schiff and I thank you for posting the video and topic.

BUT...I do take exception to the quote above. Lots of people (including many on ATS) predicted the crash. Schiff and a few others were bears during the boom, but they were hardly the only "voices crying out in the wilderness."

I guess something just rubs me wrong the way that people like Schiff, Roubini, and Celente these days seem to all be trying to take credit as prophets that seems vaguely undeserved. They are smart, well-spoken guys but they make it seem like nobody else had a clue and they were the only ones and I think maybe that's what bothers me.

But whatever, that's a minor point, the message here is important, so thanks again OP.

Originally posted by Partygirl

Originally posted by kennylee
This video is a 12 minute interview with Peter Schiff, the guy who predicted the economic collaspe in 2008 and nobody would listen.

I like Schiff and I thank you for posting the video and topic.

BUT...I do take exception to the quote above. Lots of people (including many on ATS) predicted the crash. Schiff and a few others were bears during the boom, but they were hardly the only "voices crying out in the wilderness."

I guess something just rubs me wrong the way that people like Schiff, Roubini, and Celente these days seem to all be trying to take credit as prophets that seems vaguely undeserved. They are smart, well-spoken guys but they make it seem like nobody else had a clue and they were the only ones and I think maybe that's what bothers me.

But whatever, that's a minor point, the message here is important, so thanks again OP.

Minor point yes, still there were not that many others out there at least not on the MSM. Schiff, Ron Paul, Celente, Jim Rodgers and a few others. These guys were the only ones given any MSM air time because they were going against the everything is roses BS the media was preaching and Schiff especially was mocked and ridiculed over and over by many so called expert economists and their lap dog pundits There is a video out there floating around of some of them eating crow after the crash while Schiff is schooling them some more.

The debt ceeling will not be raised not now, not in 6 months and definately not in 10 years so stop right there. I cannot reveal the reason now but do trust this is all apart of a waiting game.

reply to post by Partygirl


Thanks for pointing this out. I hadn't thought about all the others that saw it coming. No matter how trivial your point might be, it is still a valid one.

I saw where someone started a thread about QE3, where others are saying it is coming. If QE1 and QE2 didnt do anything but prolong the inevitable collapse, why do they keep printing the money? Doesn't that just make things worse?