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1/10/2006- Ron Paul Advisor Peter Schiff On Morning Call



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Visit http://www.PhilDeCarolis.com to sign up for my free weekly newsletter that includes Economic and Real Estate updates or for more Peter Schiff videos and real estate advice from an experienced Investor/Realtor. Let me help you protect and grow your wealth NOW before it is too late. Contact me right away for a referral to my own personal broker with Euro Pacific Capital that can advise you on the purchase of precious metals (Gold, Silver, etc..), Commodities And/Or Foreign Dividend paying stocks to hedge against rising prices and your loss of hard earned wealth. Join me in preserving your savings so that we can utilize our retained purchasing power to purchase Discounted/Cash Flowing California Real Estate Assets at the bottom of this downturn for pennies on the dollar that will rise in value dramatically during Californias' next cyclical inflationary real estate bull market.


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Man, If I knew ... ( 2 months ago by mrzack888)
Man, If I knew about Peter Schiff 5 years ago, I would've taken a HUGE equity out of my parent's house and bought Gold and Silver, and I'd be retired by now.
The dollar is going ... ( 2 months ago by mets48853)
The dollar is going down to balance out the current account deficit. I agree with what
peter says but I don't agree with his idea that china will be exempt from the dollars
collapse. Their exports will collapse as well
which will reverberate throughout china.
The only other way china keeps its economy going is by having their almost insolvent banks lend at close to 20% This will cause a major credit bubble in china which will lead them to undergo a massive collape in the banking system
Hmmmm, wonder why ... ( 2 months ago by JackNeedles)
Hmmmm, wonder why they got rid of Peter.
You need to buy ... ( 2 months ago by weird14u)
You need to buy Peter's book and read it if you haven't already. I think you'd see that the only thing holding China back is their own government. You have literally billions of people (potential consumers) in China that would gladly purchase the goods that get exported to America... It doesn't make much sense that just about EVERYTHING we buy here in America is made in China, and yet the Chinese can't even afford to buy what they themselves make. Peter's right.
You really need to ... ( 2 months ago by dcs5150)
You really need to read his book. Instead of exporting all those goods, the Chinese will consume those goods themselves. Their goods will be cheaper for them to buy because they are on the other end of the "see-saw". Meaning that as their currency appreciates against our debased dollars they will become richer by definition. They will be exempt from the inflation that we are exporting by de-pegging their currency to ours. Read his book, bro...trust me you'll get the big picture...
lol...you posted ... ( 2 months ago by dcs5150)
lol...you posted that as I was typing my reply...that was weird...
even a dead cat ... ( 2 months ago by danbuck333)
even a dead cat will bounce hahaha
Look at the numbers ... ( 2 months ago by bschinzel)
Look at the numbers in this video
Dollar index - 89
Euro/USD - 1.2066
australian dollar - .7494
how anyone discounts this guy anymore...i have no idea
Gold and Silver " ... ( 2 months ago by boots920)
Gold and Silver "only" its law, its part of the US Constitution. The result of ignoring law is disaster and chaos. Makes sense why the g-crudes took the "solution" away. Liberty Dollar = prosperity. Fed Note = Slavery.
Politics is for the present, but an equation is for eternity.
Albert Einstein
If they depeg from ... ( 2 months ago by mets48853)
If they depeg from our currency their exports will become extremely expensive.
Which will kill their great advantage.
Go read Richard Duncan's The Dollar Crisis.
A much more detailed account of what to expect when the shit hits the fan.
btw, i have read peters book.
Go read Richard ... ( 2 months ago by mets48853)
Go read Richard Duncans THE Dollar Crisis.
Who found out that ... ( 2 months ago by MooseOfReason)
Who found out that dead cats bounce? Lmao.
Now everyone: PETER ... ( 2 months ago by arnejess)
Now everyone: PETER!PETER!PETER!
The thing is they ... ( 2 months ago by picapauengracado)
The thing is they are not being paid for their work. Instead of inflating to keep the tweak the exchange with the Dollar, the Chinese people would be better off if their government simply handed them the inflated Rmbs to produce less. There are strategies to soft the transition, which I assume is what that Duncan guy paints as a painful event.
They have major ... ( 2 months ago by mets48853)
They have major overheating in their economy and their banks are unregulated and giving out double digit loans. Foreign countries will not except debt from the chinese, they will only except cash (dollars).
Plus, all the foreign money that is flowing into china is flowing their to help produce the goods they sell us. What happens when we cant buy those goods. That foreign capital will disapear in a heartbeat.
The bottom line is china continues to buy us debt because the alternative is
not something that ... ( 2 months ago by mets48853)
not something that they are looking forward to as well.
Besides all of the overproduction of goods will cause a major deflation in china just like what happened in JAPAN in the 90's. Mr. Duncan lived in asia and saw first hand what happened.
So bottom line is yes america will be hurt but china is not going to walk away unscathed like peter says. China will not be isolated from this.
The other thing that needs to be addressed is chinese wages. Their workers make .60 an hour and
have no labor ... ( 2 months ago by mets48853)
have no labor representation as well as horrible working conditions. This has to be addressed with either a global minimum wage which will bring jobs back to the US or through a NAU which will combine the exporting power of Mexico and Canada and the US. THis NAU will make americas current account deficit dissapear.
You lost me after ... ( 2 months ago by picapauengracado)
You lost me after you start comparing China to Japan, but I guess what you're saying is that because mainland China investments are done through companies which are either state or party members owned that they won't have the flexibility to a shift at all, even if gradual. I think you are ignoring there are a lot of Chinese entrepreneurs nowadays and people are saving there, so restrictions on foreign investment.
Their tax burden is ... ( 2 months ago by picapauengracado)
Their tax burden is 45% on individuals and 33% on corporations, plus sales and all that stuff, which is still on par with a lot of so called capitalist countries. A stronger currency also means cheap coal, oil and other resources, so they can leverage some of those handicaps with cheap energy and so on.
By the way, I ... ( 2 months ago by picapauengracado)
By the way, I wonder if the minimum wage thing is something advocated by that Duncan guy. I understand that common Joe thinks that a wage is priced at the biological needs of the employees and the rest is employer's generosity. But an economist should understand how vile it is to destroy jobs because the price of labor ends up under the forbidden level. I guess that explains why there is not even a wikipedia entry for the guy or his book...
The china japan ... ( 2 months ago by mets48853)
The china japan comparison is very simple. Japan's exporting economy overproduced, which led to overinvestment and overcapacity in their economy. This money moved into the banking system which caused huge Asset bubbles. Look at the real estate and stock bubbles that took place there. But like all bubbles they soon deflate and what japan had left was falling prices(deflation). They refer to this as the lost decade.
China is currently experiencing the same bubbles
that japan ... ( 2 months ago by mets48853)
that japan experienced. Did you happen to notice the little bubble taking place in the chinese stock market???
Besides the chinese banks are basically insolvent. These double digit loans wont be repayed.
And POP there goes the great china bubble.
mets48853: "THis ... ( 2 months ago by wholelottabon)
mets48853: "THis NAU will make americas current account deficit dissapear. "
that wont be the ony thing to disappear under the NAU...you can also expect to see the Bill of Rights formally thrown away...and you can expect to see the deficits return eventually



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