🔴 Just When You Thought Government Couldn’t Get Any Dumber - Ep 888

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#economy #dollar #inflation

[@davj1481]

Mr. Schiff you are so right.

[@alf8718]

"... because politicians don't run out of dumb ideas, You know there's just an unlimited supply of this nonsense so it constantly gives me material to discuss...." Excellent as always, Mr. Schiff!

[@MrAnderson3]

Hi Peter, love your take on government and housing🤣🤣 I mean it's not like the world hasn't seen government backed mortgages before right? Here in Australia the Victorian government have introduced a new housing grant: "The Victorian Homebuyer Fund could be the key to owning your home sooner. If you have a 5% deposit, the Victorian Government will contribute up to 25% of the purchase price, in exchange for an equivalent share in the property, which can reduce your mortgage." Would love to hear you talk on that I should mention to, Victoria the state I'm in has currently over 100 billion in debt, our Premier secretly went to China for 4 days suspected of asking them for money and all construction on our railway from the city to the airport has stop due to a blown budget....

[@andrewmiller6663]

That is interesting, hi from NZ

[@sblijheid]

The costs are always higher where there's socialism. Add corruption and you know the equation to government bankruptcy.

[@edwardholmok8572]

the government is going to contribute up 25%. Guess what? Prices just went up 25%. Talk about creating inflation.

[@MrAnderson3]

Oh by the way, since posting this comment a major builder in Victoria went bust and the government is returning everyone's deposits. 15 million dollars worth

[@vladbelonozhko339]

Great show Peter!!

[@Just-Move-Forward-John]

The way you describe economic repercussions of policies is so extremely straight forward & simple. I wish you'd run for president or something. Thank you for doing what you're doing to get the word out about these idiots running this beautiful country into the ground

[@linmal2242]

So, you want someone to control everything.? Sounds like you want a dictator ?

[@sblijheid]

Voters do not vote for prudence, but for free stuff. Peter would lose if he ran for president.

[@youdodat2]

When ever someone says “Joe Biden,” everyone say “FJB.”

[@davidlanham99]

I can't believe we have such a knowledgeable person in Peter Schiff to explain all of this stuff to us free. Watching his show is the best deal anybody ever got in history.

[@JohnDoe-ef3wo]

It's common sense lots of the time sad it has to be explained

[@rustyscrapper]

Some wealthy people do give back. There are dozens of wealthy you tubers who create content just to educate others for free. But there's 1000 wealthy people on vacation in cancun for every one like Peter.

[@michalsavatar7]

But as soon as you follow his savings/investment advice, that's when you're trapped in a hole.

[@dersturmerofjewery6038]

Eustace Mu11ins is the greatest historian

[@atgratgr4162]

Man, its going to take a big towel to clean the brown nose of yours....lol

[@tomasleitao1775]

I have never wanted to work for someone this much in my life. Great show!!!

[@WW-on6bo]

I think you do.

[@Idahorokon]

Cuba should bring Peter on to clean up the Cuban Economy. He knows his stuff!

[@davidlanham99]

Why can't we have people like him running the government? This is ridiculous.

[@billybitcoin843]

Cuba has to go with BTC , that will bring enormous wealth to there country ❤

[@dersturmerofjewery6038]

Cuba will just nationalize it

[@user-pc7ef5sb6x]

Bruh, this is the highest Gold has ever been in history. Why would anyone buy Gold, if anything, people should be dumping Gold.

[@TkerIsAPimp]

Sell yours to me then

[@charliesanchez8714]

Peter explain to us about the gold standard how gold will be set at a fix price and how it will work.

[@dersturmerofjewery6038]

It won't work China has a debt and a demographic problem. World government world currency will be the way

[@TkerIsAPimp]

Prices cannot be fixed. They will be set by the market, which fluctuates.

[@thereignofthezero225]

Don't buy gold now. Price will go down for a little bit after the fed pivot and the beginning of the next phase of this collapse.

[@davidblick2192]

Sounds like a democrat. Reward irresponsible behavior, penalize Responsibility.

[@stekoo664]

My little brother (10 years younger) will be SecTreas in next prez admin.

[@BubbaBubs1]

We stand on the remains of what was America.

[@skynetsworld]

Don't worry, Peter. This lunacy will go away rather sooner than later.

[@michealsailor7423]

Peter I have to disagree with the statement of buying a home is a money pit. I bought a total of 7 homes from 2012 through 2017. The first few I got were really cheap and I managed to fix them up and put renters in them. The last three not so cheap but still got them for a decent price compared to 2022 prices. I began offloading them late 2018 and sold 3 of them the last one being October of 2022. Hindsight I should of waited to sell all of them last year but I’m ok with the profits I made. I thought for sure the market would crash 2018 that’s why I began selling then. Peter I managed to pay off 4 of the houses I have left from the profits of the other three sales. I own them outright and they cash flow them. I did get hit some capital gains but it was a one time thing. Now I have to admit some of it was luck timing the market like I did. I didn’t know at the time that I had bought at the low I just knew houses were really cheap. Since then I have been fascinated how markets work and been following your work along with 50 others. I just wish I new then what I know now!

[@rosewildbill6368]

I know what you are saying ...maybe Peter means when you are constantly upgrading with renovations

[@gustavoesqueda9964]

My question is do we dump our savings towards our mortgage ? We can do away with more than have of the mortgage balance. What’s your advice ? ( instead of the dollar becomes toilet paper ) or is it too late ? ?? Please help

[@Al-yf7tm]

You mean Elon doesn't have a patent on the electric car?

[@Adonai-lz5jb]

Peter I use your podcast to put me to sleep😂😂😂

[@carlosibanez2763]

Go to sleep ho

[@fsmoura]

You must dream of financial doom and hot dog heartburn hiccups

[@LoveOfLam]

@@fsmoura man loves his hotdogs

[@prakash.srn.17]

I’m sure books have the same effect on you 😅

[@pchander100]

No kidding! I have been doing it for the past 5 years. Works every time.

[@patrickseekins1299]

It's Katie bar the door around the World!

[@brandonvienneau5785]

So then what is the point of a credit score😂

[@sblijheid]

It's not a secret that democrats want to get rid of it. It tells the world objectively that a large part of there voter base is irresponsible.

[@deborahdean8867]

Yes a home is wealth if the mortgage is reasonable. Renting has other very disruptive weaknesses to financial security. Property ownership gives people security in an elemental way. Being rich is not the same thing as wealth. Property ownership is wealth. And that includes homes of very modest means

[@UltimateBargains]

Prices rise to consume all subsidies.

[@Lakerone82]

Men lie, woman lie, numbers don't lie. 😂

[@nacomdeltoro6219]

Peter the great goldbug 😊

[@ubermenschen3636]

@19:08, “ When the Dollar is no longer the epicenter of the global monetary system…..” said Peter. All leading economists agree that China’s economy will supersede the U.S. economy by 2025 given the current economic trajectory of both nations. When that momentous event come to pass in 2025, the BRICS + + will inaugurate an alternative world reserve currency backed by precious metals, thus, replacing the incumbent fiat world reserve currency, the USD backed by the Federal Reserve’s printing press. As the USD loses its sole reserve currency status, it will no longer suppress the appreciation of other fiat currency such as the Canadian Loonies, Yen, Euro, Real, Peso, or RMB. These fiat currency will rise as the USD falls in 2025.

[@michaeljames8408]

EPISODE 888 --- The meaning of 888 relates to the completion of learning, in the spiritual sense. Some may even call it a sign of enlightenment

[@JohnDoe-ef3wo]

I'm definitely learning more all the time. It's ugly!!

[@friendsforever5012]

444 times 2

[@mariooliveira9074]

​@@JohnDoe-ef3wo 😊

[@kenhart2516]

Gave ya like #8 😎

[@rosewildbill6368]

...no, it doesn't ...( such bullshit) stop symbolizing everything ...the Bible sure doesn't say that

[@ChrisPC123]

I own TSLA(Lol) but also own GOLD, NEM, and PAAS

[@Corkfish1]

I thought the Biden mortgage plan was based on credit score, not down payments

[@micromep]

Chevy has the chevy bolt euv for msrp of 27k #3 best selling ev that’s why telsa has to cut prices

[@pfox068]

Peter, none of this is by mistake

[@briangoodspeed8807]

Need NAAWP

[@vshulkin]

John McAfee pledged to ‘eat his own manhood’ if Bitcoin didn’t hit $500k by end of 2020… which it didn’t

[@suegibson8914]

I don’t comment on people’s appearances though saying that you look great & healthy. Whatever you are doing is working. I’ve been following you for 6 years & appreciate all the opinions & information you give freely. 🇦🇺🦘🙂

[@mariaevora2142]

Can't blame anyone? What? Blame the rich banksters! Can you talk about BLACKROCK?

[@dsscam]

Peter Schiff- ALWAYS wrong, 15 years in a row. No matter what, gold and silver ALWAYS manipulated down.

[@cjgooding4512]

Tesla is the only electric car anybody should even think about getting. For one thing the other automakers are not going to be able to mass produce electric cars and they are not making a profit at all on their electric vehicles. Tesla will be perfectly fine it will 10x over the next decade

[@willgable1978]

What law or regulation allows xiden to change this, dictator regs?

[@manuelocasiojr69]

U r missing part of an equation. When the car drop and car was cheap I bought my wife and me a car. This car will last 10 years. I have had my cars 3y now. I won't be back in the market for a car for 7 to 15y

[@bw3506]

Socialism is great huh?

[@fifteenbyfive]

Elon Musk is a brilliant engineer of his era who knows how to get things to market.

[@jfk1998]

You are right on about homeownership being the American dream. It's a nightmare if you aren't financially able to upkeep and maintain a home.

[@nayanmalig]

Blackrock and derivative speculation is more important than dreams.

[@Achilles5937]

"It's called the American Dream because you have to be asleep to believe it" -George Carlin

[@osu33089]

Buying and owning a house is a suckers game if you bought after 2020. It was only worth it with the anticipation of appreciation. Maybe buying new will get you a decade with little additional/phantom costs, but out side of that, you would be a fool to buy a house right now.

[@e8iMm7KE999]

@@osu33089 IF you can buy a foreclose home IN A GOOD NEIGHBORHOOD that needs a lot of work AND HAVE THE MONEY,TIME AND KNOWLEDGE to fix it yourself. Then it is worth it. Of course "IF" is a big word.

[@deborahdean8867]

All that means is you bought too much home. Doesnt mean you shouldn't be working to own your own hovel.

[@goodstufflife]

I love how he’s sticking it to Cathie, she’s earned it. It makes no sense to buy Tesla rn just like Peter said the time to buy that stock and make money on it has passed for now. I don’t know if Cathie is unethical or in denial or both. After watching about three of her videos I got the sense that she was not a straight shooter so I tune her out now

[@Schoolship.]

35:22 "When the govern-ment comes in, the whole thing gets destroyed." Truer words have never been spoken!

[@MomentswithDavid]

Govern =control , Ment=mind. Government is literally mind control

[@objvst]

Incentivize Bad behavior and penalize good behavior. How about DA's not prosecuting criminals and letting them off with a slap on the hand. Criminals have a license to be bad. Criminals can steal merchandise from stores under $1,000. So they rob multiple stores, multiple times left untouched. Citizen's buy guns, get alarm systems, don't go out at night, stay out of bad areas, and live in fear. Innocent people get robbed, injured and murdered. Businesses close. Criminals get out easy and repeat their crimes. Is this the Law of Intended consequences because havoc is what Democrat Communists want. They want people to live in fear so they can create a federal police force because of the shortcomings of the local police similar to the Nazi Gestapo. So here it is creating a crisis not to waste as authored by Barack Obama in one of his first speeches. All this from our real presidents; Barack Obama and George Soros.

[@Iforgot___________-________75]

I have learned more about honest and real economics, inflation, etc from Peter than school and all other outlets in my lifetime.

[@nevadawest411]

Agreed

[@killapicka]

Thank you for these. I called Schiff gold this week 👍. Great service.

[@liberty-matrix]

Obama's 3rd term is the worst.

[@dersturmerofjewery6038]

It's Wilson all over again

[@closetheark]

Realtors & mtg lenders would tell buyers not to finance anything before their home closing. Now it might benefit them to lower the FICO🤣. Bass ackwards

[@user-hm5zb1qn6g]

''Politicians don't run out of dumb ideas."

[@tampabayrodeo2474]

In light of the impending recession and the fact that inflation is still far higher than the Fed's 2% target, several of the most prominent market analysts have been expressing their views on how terrible they believe the next downturn will be and how far stocks may have to fall. I need advice on what investments to make because I'm attempting to create a portfolio for my children that will at least be $850k in value.

[@zoeytank2921]

There are many interesting stocks in many industries that you might follow. You don't have to act on every forecast, so I'll suggest that you work with a financial advisor who can help you choose the best times to purchase and sell the shares or ETFs you want to acquire.

[@trazzpalmer3199]

@@zoeytank2921 Yes I concur, I've been talking to an advisor for long now, mostly because I lack the knowledge and energy to deal with these ongoing market circumstances. I made more than $220K during this slump, demonstrating that there are more aspects of the market than the average individual is aware of. Having an investing counselor is now the best line of action, especially for those who are close to retiring.

[@graceocean8323]

@@trazzpalmer3199 I know a lot of folks that made fortunes from the Dotcom crash as well as the 08’ crash and I’ve been looking into similar opportunities in this present market, could this coach that guides yo help?

[@trazzpalmer3199]

@@graceocean8323 My Financial Advisor is MARIA JULIANA RAMIREZ. I found her on a CNBC interview where she was featured and reached out to her afterwards. She has since provide entry and exit points on the securities I focus on. You can run a quick online research with her name if you care for supervision. I basically follow her market moves and haven’t regretted doing so.

[@hannahdonald9071]

I'm literally holding onto straws right now, so your tip couldn't have come at a better moment! I plan to call her after doing a quick internet search for her.

[@donheilandjr2040]

45:11 into this video is correct!

[@KBLV]

Your podcasts are so good, you should do them daily!

[@jojohnson3317]

Excellent show 👍

[@UltimateBargains]

Always ask, "Which policy decisions will produce the greatest power and wealth for the decision makers and their cronies?" *The goal of all governments and all banking systems is to privatize profits and socialize losses. Always has been, always will be.*

[@akuseru85]

I live in Japan, and many items here, eggs, milk, ice cream, etc etc have gone up between 10-20%.

[@herpderp7114]

That's still pretty low, I'm in EU and there are food items that have gone up like 50%. Overall CPI is 20%.

[@YouReadMyName]

China's inflation is 0.7% March 2023, 2.6% for food, yet somehow China's economy is collapsing, according to KZbin.

[@deborahdean8867]

All prices are in the US have doubled

[@daebak7370]

​@@YouReadMyName western propaganda

[@ruffleschips9055]

Tesla and other EV manufacturers didn't take into account that Toyota ha made a hydrogen fuel cell car and has also made an internal combustion engine that runs off hydrogen. Toyota knew for a long time that battery cats aren't the least not practical.

[@MM11111]

Glad to see someone talking about this new government mortgage overhaul. This is peak government incompetency and a major step into communism, if we aren’t already in it.

[@jayhenderson2683]

It's not the government. It's the evil banks wanting this program. They want to own everything as the US Empire implodes like all others. The last one was Great Brittan. Now most of the people live in council homes. Run by the government but owned by the banks. At least the good creditors and taxpayers didn't have to fund so much of it. Like the US taxpayers will have to. It's going to happen fast. Brittan lost their Empire in two phases. WW1 and WW2. A total about 8 years and it was game over. The US may see it done quicker and perhaps without war on their soil.

[@linmal2242]

You have no idea if you think that USA is Communist. Stop talking bullshit because you have your freedom and your society is not a command economy ! Neither are your people controlled !

[@nevadawest411]

Well said ..

[@wasdwasdedsf]

weve taken major steps to communis for a while... such as locking down the world over a cough virus and forcing a batch of rushed and untested chemicals on the population... and not to mention the insurr* coup of november

[@dersturmerofjewery6038]

The first rule of Communism is a central bank; we've been communist since 1913, 1933 destroyed the constitution.

[@friendsforever5012]

AMERICAN DREAM IS TO BUY A HOUSE. That was concocted by a realtor trying to sell you a home ...😂😂😊

[@dheiland1112]

45:10 into this video says it all! A home is a money pit and you will not get rich buying a home! Fact! Getting rich buying a home is a myth!!

[@mikehawk4856]

Cashed out my entire 401K last month and bought gold Eagle coins today. Feels great 👍

[@fullclipaudio]

I've been telling everyone I know to cash out their 401k's and even though people agree with every single point I make about how their retirement will be stolen through a bail in or hyperinflation, not a single person dared to cash out. It makes zero sense to me.

[@walden6272]

You are now officially protected your wealth. Doesn't matter what happens to stock market or the dollar. Just hide it in a good place and prepare to defend your home from intruders.

[@dersturmerofjewery6038]

That's right 👉 get them J00s off ya shekels

[@anthonyiannozzi6777]

Just wondering, how much did you pay per oz. Where did you buy it?

[@mikehawk4856]

@@anthonyiannozzi6777 $2,150 per Eagle. Bought 240 of them

[@Silvertip1958]

I bought a home and paid it off, now I’m debt free. I’m glad I didn’t see this before I bought a home.

[@donheilandjr2040]

@Silvettip1958, A home is never yours! Ever! Even if you pay off your home, you are still renting from the government. It is called property taxes. (Rent) Plus the expenses never end on your home. Everything needs replaced in your home constantly.

[@LC-hv1qn]

I have been watching since 2015. It's all happening just in slow motion.

[@dersturmerofjewery6038]

I started watching Peter back in 09 when I was 9 years old

[@seesidesummerhouse6112]

7:10 I have a better chance of going to Narnia, than I do seeing a British government cut spending.

[@Romulus2099]

We're going to go through a recession and depression and the central banks, etc. Are going to be like: we're not in a recession, we're not in a depression. And then after the fact be like "hey guys, turns out we're in a "deep recession"

[@lawtutoring]

Yes that's what they did during the week 2007-2008 recession

[@sblijheid]

It is said that past performance is not indicative of future performance, except history repeats itself. Someone or a network, I forgot who, did a piece on this. No politician during the great depression acknowledged that there was a depression. They perused many periodicals of back then and could not find one politician saying the words out loud. After the tide had turned, they did say so. I do believe the 2008 crisis had the same issue. History is repeating itself.

[@Al-yf7tm]

How do we know when to sell our mining stocks? When Cathy Wood starts buying...

[@brianbenega5280]

He's not lying when he says homes are money pits. I spent $15k for a new roof. $12.5k for a new A/C and $27k for solar here in California because energy is expensive. I should have just rented.

[@prakash.srn.17]

I feel your pain brother. Hope you make it out of California soon

[@brianbenega5280]

@@prakash.srn.17 I'm just saying! This shit here is ridiculous. Plus all the homeless....makes things worse.

[@uteruspower1862]

Peope will argue (you’ll get it back when you sell the house someday). Problem is that you have to live somewhere so unless you have a larger home “downsizing” when you retire isn’t feasible so the $$ is locked up until you die. But at least if you ever need $$ for a retirement home or dementia facility you have a house to sell to pay for it.

[@davidelliott2485]

I’m fortunate that my mortgage is less than a lot of my coworkers pay in rent. For apartments at that

[@walden6272]

Renting is worst. Rents gone up nearly double from a few years ago. At least with home ownership, you have equity and a piece of mind you always have a place to live and not face homelessness if you lose your income and the landlord jack up the rent a lot again.

[@jimmyrichards5595]

Keep Calm and Gold Stack ON

[@LC-hv1qn]

Love the ban symbol

[@jimmyrichards5595]

@@LC-hv1qn Thank you. Cheers EDIT: I’d seen enough recently to determine for myself that most that are in that movement are not about civilized freedom and liberty. They are mostly about hate… and violence!

[@rosewildbill6368]

Nice Logo bro ...

[@dersturmerofjewery6038]

Your logo is highly offensive oy vey

[@rosewildbill6368]

Your logo is highly DEfensive !

[@trafficguy8872]

As usual….great dissection of current financial situation. Concerning risk assets…BitCoin, Tech stocks etc…Your observation that what worked during the GFC won’t work in a high inflation environment is so obviously true. Both of us….being 60, or older, in my case….have a perspective of having seen the 70s and what happened to gold in the late 70s….the last time we had high inflation.

[@davefromkansas5600]

The Dad we should have all had. Go Schiff baby!!!!!!!!!

[@TkerIsAPimp]

Peter Schiff vs Kathy wood debate WHENNNN

[@edwardtucker8219]

888 - Nice! At 30 seconds, the look on Peter's face is priceless! You have to watch that. Thanks for all you do, Peter Schiff!

[@johnh5896]

Toronto airport just lost 20,000,000 in gold Peter be on the lookout for some hot gold.

[@trumpshare]

Can you imagine the death glares Cathie Wood would be shooting at Pete if they ever met. I imagine PS would be smirking and CW might actually spontaneously combust on the spot.

[@chocolat4hogs]

Import and Export market has been curtailed since October of last year, there are mandatory days off, most ports are closed on either Mondays or on Fridays for months on end, think that you want products in the store, or export parts or supply chain items trading from US to Asia? It's being cut just worse than during the Lockdowns of the economy. You can't function a economy as Peter said from the regional Fed stating manufacturing is forced into recession and closures unless they get a buyout, or a too big to fail, you will just go jobless in the Federal economy.

[@kja200018]

When I want to feel like I did the right thing by taking thousands upon thousands out of my savings to silver ounce bullion, I watch you and a few others. I still have my doubts at times because it’s controlled by the comex. Who knows what the right answer is. I needed something tangible but land is too pricey at the moment. I’m hoping with my silver down the road I can buy land. We’ll see. I don’t do the stock market; just straight up physical silver in a fire proof safe. I’m no expert but I’m trying to use common sense.

[@dersturmerofjewery6038]

Just buy vacant land pour a slab concrete pad, get a shed insulate solar outdoor plumbing out house get a plot with water connections all you need. I did that saved so much I have 225k in silver and gold one day ill own a castle In Mexico

[@ClaudioPascual]

Most famous male investor: Warren Buffett - Most famous female investor: Cathie Wood LOL

[@theceltbeserk1]

My home isn't my biggest asset. My biggest asset is the actual land my home sits on. At least that is how the County assessor sees it as it breaks down Property vs Dwelling. If buying, go big Lot /small home, and not big home /small lot.

[@jvo3777]

Jesus answered, “I am the way and the truth and the life. No one comes to the Father except through Me." -John 14:6

[@shawnpalmer9833]

If those people you are talking about can pay rent they can pay a mortgage I own my home but people like your self don’t understand having to pay for something that will never be yours I listen to your show every day but you need not talk about something you will never understand

[@rickcouture2156]

having more risky loans out there worked so well last time?

[@KennyG233]

You will own nothing and be happy

[@virtual-viking]

Never underestimate government incompetence. Those guys couldn't hammer a nail in a dog poop without destroying both.

[@zenglider2145]

"Well, I think 2 things are infinite --- the universe and human stupidity, but I'm not sure about the universe." Albert Einstein

[@bkcellularking6772]

Peter you are one of my favorite people to listen to. Sad that the real news doesn’t report the news. Thank god for KZbin, at least for now.

[@Hankandrex]

Dude.. the K I A EV starts at like 50gs. That is extraordinarily expensive for a freaking Kia!

[@AK2HI]

I'd love to hear your thoughts on the RESTRICT Act

[@Danny_6Handford]

Peter, I have listened to some of your reporting over the years. You just seem to dish out balm without offering much in new ideas. Here is something for you to think about. The idea and thinking that the economy always has to grow for a nation to progress and to be successful may be the problem. Presently if the economy is not growing, it is considered a failure. This type of thinking cannot go on uninterrupted on a finite planet with finite resources. There needs to be flexibility in the system for the economy to expand and contract and for a contraction to be considered normal and not a problem or a failure. The contraction needs to be just as prosperous and productive as the expansion. For this type of thinking to work, there needs to be some new economic theories and models developed along with some new types of money and financial systems based on economic sustainability not on economic growth and money inflation. I am sure there will be some Nobel prizes awarded to the academics, economists, capitalists, corporate CEO's and business leaders and of course politicians and government officials that can figure out how to make a sustainable economy work and how not to devalue the nation’s money in the process. The way this can begin and improve peace and fairness at the same time is when our business and government leaders along with our brightest and smartest among us can learn to be much more truthful, honest and trustworthy and can start to understand that the wellbeing of others benefits everyone. To me, one of the most stunning things I learned about modern economies is that money is created out of thin air when someone takes out a loan and goes into debt. I was well into my forties when I learned this about modern money. At first I did not believe it and it is certainly not what I was taught about money in my younger days. The money is created by entering numbers into the borrower’s account when the borrower takes out the loan. As the loan is paid back, the money that was created for the loan is eliminated and no longer exists, but the bank or financial institution that created the money gets to keep the interest that was paid. So, the more debt there is, the more money there is and the more interest that is paid to the bank. Modern money is mostly about getting governments, corporations, businesses and people into debt and there is also quite a bit of smoke and mirrors involved. On the international level, debt has been used as a tool to gain power and influence over other countries for centuries. In the past century, the US perfected this technique. In the 21st century, China and some other countries have also learned this trick. The idea is to keep the borrowers continuously in debt so they can continuously keep paying interest to the “lenders”. The joke is that the money given out for the loans that make up this debt does not exist. It is basically a “fake loan” and to make the joke even better, to get a loan like this, most of us including governments of other countries have to put up some collateral, so if you default, they can take ownership of your collateral. So basically, they get whatever collateral you put up for free and with no risk since the money they “lent” you did not exist. Supposedly, this has been determined to be a legitimate way to do business! This is how the US has been able to be the dominant player in the world economy but is now being challenged. The Gross Domestic Product (GDP) represents the size of the economy which is the amount of money the economy is worth. When the economy is continuously growing, the GDP is also continually growing. Similar to any addiction, more and more borrowing is needed to have the same effect on economic growth. When the government debt starts to become greater than the value of the Gross Domestic Product (GDP), technically it will no longer be possible to pay back the government debt. If it continues, the buying power of money will start to be significantly reduced and if the government debt starts to become several more times higher than the GDP, the money and financial systems will probably collapse. If this happens, the system is reset and the cycle is repeated. During the run up there will be some good times but, after the reset, times will probably not be good and war is also a possibility. This cycle has been repeated continuously throughout history from the Chinese Dynasties to the Roman Empire to Germany after World War One and to Argentina, Venezuela and to many African and Asian nations in the 21st century. The US is also on track for some type of monetary reset,

[@sblijheid]

Except the last paragraph, everything you wrote is nonsense. If everyone can make up money and give out loans, every company would always be in thd black and deficits and losses would be non existant. The bank lends out the money, then turns around and securitize the loans and sells the. They then have the money free to loan out again. The bank collects the interest from you and passes it on to the buyer of the loan. The other things you mention, require either miracles or Jesus second coming. It would be best to pick up an economics book. Thomas Sowell has a great one called basic economics. Give it a shot.

[@johnyhefner]

Absolute insanity.

[@noelchalmers5590]

Tesla make shockingly bad cars. Spontaneous combustion aside, the build quality is terrible.

[@TronSAHeroXYZ]

Some are Unemployed and sitting on youtube all day.

[@friendsforever5012]

Pete you look better now than you did 20 years ago lol

[@unaldurmaz250]

Listen to Peter guys he's fine most knowledgeable knew every recession and what to do about it.

[@erickyurkanin8460]

LLPA for loan level pricing is the add on the agencies like Fannie Mae charge for the loan delivery. This is built into the rate/points you are charged. The big change in 2023 was people with 740 and higher credit scores are paying high rates through these LLPAs. The add on for the lower credit scores decreased plus LLPA add on were increased across the board on on all credit scores for refinances, especially cash out refinances. I have not heard any new outlet pointing out the increased rates on all refinances. The benefits, as some may call it, is that these LLPA are waived or removed for people with income that is at or below 100% of the area medium income or it the area is deemed a special focus area (known as duty to serve). This is giving lower credit score borrowers lower rate than they should be getting according to credit scores. So people refinancing or whose with high credit scores are subsidizing lower income borrowers.

[@johngalt4810]

The idea your rate is underwritten by your history of good credit and are less of a risk and are being discriminated against at the personal level to be forced to pay more so others with lower credit scores and are a higher risk are systemically gaining is discrimination…when i refinance when rates get below 5% i plan on suing the bank and the feds for fraud. Because they underwrote me on a personal level then discriminated against me for being lesser credit risk…

[@thechicantique4567]

The new mortgage down-payment guidelines aka loan level price adjustments are going to put the final nail in the banking coffin! 😅

[@bigb6046]

Yes , this is so much worse than what they did in the early 2000's. Will end in tears.

[@LC-hv1qn]

Is there no way to take it to the supreme court?

[@thechicantique4567]

@Big B absolutely way worse! Unreal!

[@thechicantique4567]

@@LC-hv1qn idk, I'm researching now. Sounds like an EO from Biden. This is nuts.

[@deborahdean8867]

I think that's the intent. These people arent that stupid unless Biden thinks it'll last long enough to buy votes for him to be reelected . End game is to bring down the US. All of Congress and the federal government are in on it.

[@T18skyguy]

Peter the Great !!!

[@SagaraUrz]

Gold will touch $1600 this year

[@DylanH02]

Nice to have the show live even though i always listen while driving anyways😂😂

[@James-dx4eq]

They actually do this high ratio nonsense in Canada, but require an insurance policy if you use it. I haven’t done the math yet because I don’t need a mortgage…but i suspect the lower rate on a high ratio justifies the insurance premium upfront if you own it for at least a few years. I suppose you have to try and factor in what gains you could make on the rest of the down payment cash that you don’t have to use.