🔴 Peter Schiff Challenge: It's Inflation, NOT Deflation.

Streamed live 7/29/19
Two Camps: Inflation vs Deflation -
I did the first live stream a couple of weeks ago; that was on bitcoin. I got a lot of feedback on that one and a lot of people were coming up with potential topics for the next one. I think the most common request was for inflation or deflation: which one is it going to be? Because there are a lot of people out there who see the world similar to the way I do, as far as the problems that are confronting the U.S. economy in particular but the global economy, but everybody seems to fall into two camps as to how it is all going to go down; whether it is deflation that is coming - we should prepare for that, or whether it is inflation that's coming and you should prepare for that. Now I am an inflationist. I am in that camp. Other people in that camp may be, like Jim Rickards or Jimmy Rogers or Marc Faber - there are a number of people who would be in the inflation camp. Deflation would be guys like Robert Prechter, Harry Dent, there are a number of guys that are looking for deflation.Defining TermsNow before I really get into it, I want to talk a little bit about the terms, so we know what we're talking about. Let's define the terms.
What is inflation? -
What is deflation? The actual definition of inflation, the actual meaning of the word, is an expansion of the money supply.What does "Inflate" Really Mean?That's what inflation is; it's not about prices. If you think of the word, "inflate" - what does inflate mean? It means to expand. You inflate a balloon; when you inflate a balloon, it expands. Prices don't expand - they go up, they go down; they don't expand. What expands? Money supply. When the government creates money, the money supply expands, like a balloon. It blows up. So that's what inflation is, it is an expansion of the money supply.
What is Deflation? -
Deflation is the opposite; it is a contraction of the money supply. Now when you inflate the money supply-you create more money - you have more money bidding up prices. So inflation will result in prices going up. But prices going up is not the inflation they are the consequence of inflation.

[@eriklambert9460]

Mr. Schiff! This is a far better platform to communicate with listeners! I know you’re a busy man, but please continue to run live streams as much as possible! It gives your fans a chance to ask unique questions and get your answers in real-time.

[@graczmisiek4131]

Agreed. Even just the fact of adding the video makes it more enjoyable to listen and watch

[@johnsonkids3058]

Wow he's busy and he talks almost for 3 hours imagine if he wasn't it would have been 15 hours.

[@elduderino7767]

"There's nothing that's more expensive than something the government provides for free." - P.Schiff

[@josephscott1870]

@Tomthebomb 100% correct

[@workwithnature]

There is nothing more expensive then a bank creating more money out of thin air! Your founding fathers.

[@workwithnature]

But who ends up paying that bill, when they print money! Hey.

[@Alfie-ni7lx]

@Tomthebomb Government is still heavily involved in American health care the FDA causes drug prices to be insanely expensive to get drugs to market. The government makes everything they touch more expensive also being from england i have to pay 12% of my wage for "Free healthcare" so the more i earn the more itll cost me which btw i never use because good lord the waiting times to get anything done is unbelievable id rather pay and extra £90 for private healthcare with my company if i needed it

[@Alfie-ni7lx]

@Tomthebomb Look up how much money the NHS in england spends on paracetamol they spend £7 a packet when i can get it for 40p over the counter... Not sure how thats cheaper than private

[@buddycrawford9184]

Peter your father will always be my hero in 1982 his books changed my life for the better

[@bapluda]

"Expecting the government to put out honest statistics on inflation is like expecting the mafia to give out honest statistics about crime", priceless quote

[@Snubrevolver]

Someone needs to start a "Best of Schiff" series

[@toomuchdebt5669]

Ohh but you repeat yourself. 😂😂

[@hailo1884]

Quote of the day: "There is no ceiling on gold because there is no floor on the dollar." - Peter Schiff

[@jayb-clay2724]

@@reeeems oh there is def a floor. The dollar well federal reserve note will fall.

[@ingamemikeotronik1267]

There is a floor its 0, so the ceiling on gold is infinity

[@rayg5604]

If anyone makes fun of this guy spending 3 hours of his time to educate us for free, they should get the shit trolled out of them. Plain and simple. Thank you Peter

[@HR-yd5ib]

It's his marketing strategy. Great nevertheless.

[@rayg5604]

@@reeeems You can also get on youtube and get some great responses by someone titled, digle mccringleberry.

[@anshumaanthakur7206]

@@rayg5604 😂

[@jorgeg-moneyrendon1335]

Another idiot he can ttake advantage of he spends 3 horus on here trying to sell his funds obviously u have not invested in them and loss so SHUT UP and troll that

[@bananabreadtan4124]

Man I remember watching Peter Schiff's news appearances on his website back in 2006. This man has taught me sound economics. Now working on building up my wealth trading forex. Thank you Peter Schiff for educating so many for free! You definitely live up to the ethos & integrity of your late father Irwin. Blessings to you & yours ❤

[@TheWoWBane]

How's the trading going?

[@harrythornton7217]

I'm looking to do this too, but I definitely want to know a bit about every market I can trade as well as Forex like indices, stocks, commodities etc. I'm a UK citizen but Peter Schiff (and Ray Dalio) are really teaching me a lot about Economics. How is your trading going?

[@bananabreadtan4124]

It's good. Still learning, still growing & adding to my strategy

[@brendanquinn6894]

Peter Schiff is a total legend. He is like an Old Testament prophet of economics. May God Bless this wonderful and sincere man.

[@zigbeed]

Hi Peter! I am a U.S. Citizen living in Germany. Inflation here in food prices are normally 5 - 10% at a time, and we see that 1 - 3 times per year. We also just had our local deli raise all prices 30% last week. But most people here trust their propagandist Government and the ECB saying there is NO inflation or it is not enough. Thank you for your tireless education for those willing to listen.

[@zavinci]

It’s now 2022 how is it now ?

[@zigbeed]

@@zavinci Hey Zackery, food goes up 50 - 100% at a time. The gov. says it's only 8%.

[@angusmcbagus]

@@zigbeed just because all prices are continuously rising and all goods and services are becoming more expensive relative to everyone's wealth and income doesn't ipso facto indicate inflation is occurring. It could be just an odd coincidence happening across the entire Eurozone at the same time and may disappear without consequence if we prudently ignore it long enough. (says a Canuck in Germany)

[@zigbeed]

@@angusmcbagus Exactly! Ignore it and pretend all is well, as they say here.

[@flaabmrlinux]

Two hours with Peter! Priceless

[@333BellaLee]

I live in San Francisco and my house was $750,000 6 years ago. Now it's $2.1 million dollars. I would most definitely say that inflation is here, alive and well.

[@HR-yd5ib]

congrats!!

[@catsincredulous9998]

I'd sell it and get out.

[@333BellaLee]

@@catsincredulous9998 And hold on to useless fiat currency?!? Not very sound financial advise. I would be better off renting it out and using the money to buy another piece of property.

[@catsincredulous9998]

@@333BellaLee I would never want to live in that dirty city to begin with. I would sell and buy a house elsewhere, particularly more rural but not far from the city, be self-reliant. Not sure why you assume you I think you have to hold fiat. You could easily buy a modest house, seeming that you need luxury, and buy other properties for rental, or whatever asset strikes your fancy.

[@333BellaLee]

@@catsincredulous9998 It's not that dirty. It's actually pretty clean. The areas that you see in the news are ghetto areas like The Tenderloin. I love this city and most residents in SF like it here as well as long as you live in a more decent area. I do grow food in my backyard as well such as tomatoes, kale, kabocha, lettuce, swiss chards, apples, lemons, jerusalem artichoke...

[@saycagray6079]

One of the few guys who is willing to tell the American people the truth.....

[@dennis8486]

I learned more about economics from you than from my bachelor degree

[@actualideas8078]

Dennis Fuuuuck yeah

[@rightlane4960]

What School did you go to?

[@dennis8486]

Right Lane the wrong one😋

[@jabberwocky1969]

My economics degree ... useless Keynesian cult training.

[@squarecracker]

@@jabberwocky1969 same.... i took several macro courses and always ssumed what i was being taught was a fact

[@brandonvonbo9708]

Loving these live streams, I could listen to Peter all day every day!!

[@chakritpinwanit4165]

This is awesome!!!!! Much much better hearing from you than other investors out there. I like how unique you are and the kind of logic you have, plus the way you illustrate things to its fundamental cores. You are an awesome teacher here! Appreciated :)

[@bryanhernandez-chambi6230]

I've personally been a skeptic but his arguments made so much sense I actually agree with him now. He is on point, dude is seeing into the future.

[@HR-yd5ib]

Everything he says makes sense yet his prediction completely fail. He obviously is missing a big piece of the puzzle.

[@fishofgold6553]

@@HR-yd5ibWhich of his predictions didn't come true?

[@HR-yd5ib]

@@fishofgold6553 , price inflation? collapse of the housing market (down 50,60,70%), gold 5000, fall of the dollar, bitcoin becoming worthless, ... I think its shorted to list the things he has rightly predicted.

[@TallBrah]

Thanks for this Peter, you've taught me a lot about economics over the years. Maybe you can do one livestream per month?

[@whizadree]

consumer inflation is there , its just you are receiving smaller and smaller items for the same price its hidden inflation

[@loubrok1550]

I think it was Dr. Pippa Malmgren whom coined the term shrinkflation.

[@r.chavez5513]

And the quality of things is going down

[@socaltravelball]

When is the next live stream Peter? Just went back and heard this livestream again. Lots of good points that came true post pandemic. We are there.

[@I-DIG-IT-CT]

I am loving how you are branching out and learning the live stream stuff. More Peter Schiff is ALWAYS good in my book.

[@ilvision]

This is one of the best things you’ve done Peter! I probably learned more things from these two live streams than a lot of your other podcasts. Thank you for your wisdom!!

[@AndresVernazza]

I learn so much from these live videos! thanks a lot Peter! keep it up!

[@modelmark]

First he says house prices are going down because you can't reinflate an already inflated bubble. Then rents go up because of inflation which makes everything go up. I am getting a lot more confused by this deflation inflation explanation.

[@LisaMurphy]

You're not supposed to do any thinking when Peter's making his case. But since you're breaking the rules, consider this: if in the upcoming recession real estate in San Jose (that's Silicon Valley) drops down by fifty percent (in dollars) which would you rather buy and own? Prime real estate in Silicon Valley or gold at 1400 oz? (Although Peter is saying gold will be selling for more than that going forward). Consider gold's intrinsic value and that of prime real estate.

[@LisaMurphy]

@Greg Laxton If gold goes up to $10,000 an oz in the upcoming recession and an average sized house in Silicon Valley goes for $400,000 I think even you would buy the house over the 40 oz of gold. Unless you're insane. Someone missed the point, yes.

[@modelmark]

@@LisaMurphy I think he claimed real estate down 90% in terms of gold. But still if you claim hyperinflation, real estate will go up as well. Or does he believe first down and then up? But that is what he described as the deflationist's view. He believes real estate will price like Harry Dent believes gold will price: halve first and to the moon afterwards

[@LisaMurphy]

@@modelmark I don't believe Peter has ever said he anticipates real estate going to the moon any time soon. He has only said the price of real estate will fall sharply from where it is now. While the price of gold will rise sharply. If you're asking how this makes sense, you're asking a good question. It doesn't.

[@modelmark]

@@LisaMurphy I would not say you would always exchange 40 oz of gold for a medium sized home. A doormen in a hotel in Germany once got a gold coin as a tip. Later, approaching WWII, he could buy the hotel for the gold coin. I don't know if he did or not, but not by definition a good choice. There is a reason the hotel was so cheap and gold so expensive. Gold allowed you to run away with your wealth. The hotel could be destroyed in the upcoming war. You could even have negative cashflow on the hotel, because of maintenance, no guests, un fire-able minimum wage labor. In SV 400k seems like a steal now, but what if VC capital dries up and people discover that tech companies burn rate has it's downside?

[@goldismoney5899]

Peter Schiff- Entertaining, educational, humorous.... What more could you ask for? As good as Gold!

[@alanrizer3579]

Keep up the good work Peter. These Livestream are excellent!

[@generalyan7084]

A true Patriot, thank you for making this huge investment of your time educating the public in hopes of protecting them.

[@Olddog1776]

Your material ages REALLY well. 3 years later and, just like a super slow motion train wreck…. We’re still on track and visibly moments from disaster

[@puckboy7153]

Good point peter. Usually price of gold decreases with deflation in the past however this time gold may take off regardless deflation or inflation. Always appreciate for your contents.

[@potato2941]

I still don't understand how companies like tesla, uber, and lyft exist. No profit in the last few years yet their worth more then big time companies.

[@thundaga4005]

The artificially low interest rates caused by the Fed have allowed unviable companies to get funding. Eventually they won't be able to survive.

[@billg521]

Irrational exuberance !

[@anara5570]

Mr. Schiff you are a fun guy to listen to. Smart and humorous.

[@machinehead5585]

I've known you through all the BTC debates. Bitcoiners have run the best debate in favour of gold and an exit from fiat currency so far.

[@christinanawojczyk557]

Great Live Stream Peter Schiff! I always enjoy listening to your entire podcasts while driving in the car; this new format has me sitting at my home desk watching you. WISDOM SPEAKS.

[@thematrix2.0617]

Peter Deflation will happen without the price of gold going down. Look at 2008 crash for example, I got my house for 50 grand in 2011 and gold was trying to push 2000. Now gold is in the 14s and my house is worth 220 grand. Deflation is always present before hyperinflation.

[@TheBossEntrepreneur]

You are a good father Peter. Answering your son call making sure he is okay ♥️ My father saved my life like this.

[@orabstudios]

"I am actually not wearing pants ... I am wearing a bathing suit" hahahahahahahaha

[@g0rd0nfreeman]

Here in Australia I've noticed about a 20% increase on many supermarket food items since January 2020 (it's now May 2020). Some examples off the top of my head: 500g supermarket branded pasta A$1 to A$1.20; 3kg bag of Californian oranges A$6.50 to A$8; regular (18% fat) beef mince 1kg A$10 to A$12; Norco branded organic milk 2 litre A$4.20 to A$4.80; mild supermarket branded cheddar cheese 1kg A$7 to A$8; 400g tin branded Italian diced tomatoes A$1.10 to A$1.40; 24 rolls Kleenex toilet paper A$11 to A$12. I don't yet have a handle on fresh fruit and veg because it's seasonal, but a head of curly lettuce went from A$2.50 to A$3 for a couple of weeks and then came back to A$2.50.

[@justusroloff8209]

Peter schiff is a true patriot.

[@omarc606]

You know inflation is real when your local barbershop raises prices. Is that simple.

[@steve410]

Holy shit, this was 3 years ago? Feels like last year you did this lol

[@ryanlequesne9137]

This format is fantastic! It allows ordinary folk to mask Qs on their minds and keep legendary answers

[@markdavies4123]

Amazing work peter. Keep it up.

[@vaxen805]

Inflation is here and the easiest way to see it is to check the Big Mac Index. Remember when they were 2 for $3?

[@samuelspade889]

vaxen805, I remember when they were made of real meat, made fresh for 55 cents each. I haven’t been to a McDonalds or any restaurants in years.

[@jimlovesgina]

Just look at the packaging of groceries. Cereal boxes are half the size they used to be for the same price. You now have family size and party size justifying the higher price for the same portions of yesterday.

[@uturniaphobic]

@@jimlovesgina it might get serious when every package is "Fun Size"

[@sidviscous5959]

I'd rather get 2 whoppers for $5 . . . .

[@craiggillett5985]

In New Zealand 10 years ago the price of a big Mac was $3.50, now they are $8.50, however you can buy a double Big Mac (2xBM) fries and coke combo for $6.50. The New way of promoting Big Macs to shift volume has broken the old Big Mac index that is till used. One could argue that Big Macs are now significantly cheaper than they were 10 years ago

[@EconomicWarfare]

That commercial real estate piece was prophetic. Great job Peter!!!

[@firstnamelastname3280]

Another great live stream. I dont care about the audio issues in the beginning; youd have to iron things like that out no matter who you are. Great job pete.

[@Nick_P_]

love these live q&a sessions... please continue with them...

[@eper1875]

You have a great sense of humor for putting up with all the ball busting that comes your way. Thanks for staying the course. You will be vindicated , because ; A is A .

[@jeanmanuforti]

Thank you, Mr Schiff. I've learned more about the reality of money from you in a couple of hours than I learned in my life to date.

[@MrFranchiseSF]

Agree; keep up your live streams Peter ! Very informative on a wide variety of topics.

[@Farmynator]

Peter was understating the economic situation in the US and EU. It won't be Argentina, it will be similar to Venezuela or worse.

[@killap3nguin]

M88 S28 no it won’t.

[@Michael-qy1jz]

I dont think so just for the fact that they have provisions not to let over seas dollars back in to create the hyperinflation.. they control all the money clearing systems and have provisions for a panic like that, but they cant stop the high amounts of inflation we will get. We are already seeing large amounts of inflation and price increases.

[@davidsonlankford1168]

Daniel Purdy # I think you missed M88’s point. I think what he is saying and I agree, that when this thing starts to come unraveled it going to get real ugly.

[@johnsouza5262]

I can tell every single person on the face of the earth that PETER SCHIFF has educated me more than any one else.

[@BIgBass255]

Ditto

[@pierretrudel8833]

Inflation is a disguised tax

[@thereignofthezero225]

If predicting the gfc was your badge of honor, then I guess I should get an award too, because i was out organizing and warning people about this stuff back in 2003. And I was only 20 at that time

[@brofrombrum8502]

EXCELLENT work!!! PETER, please do more VIDEO Format vids- way better! Thank you for the golden insights.

[@marcelinoperez2926]

I own Gold and silver-stocks with 70% of my portfolio. I am up 40 % for the last two years.

[@marcelinoperez2926]

sorry today 45 % up, only with 3 Stocks in the Mining-sector

[@rararasputin4960]

Congratulations. Iam up 43% as of today.

[@marcelinoperez2926]

@@rararasputin4960 Congratulations too, thanks

[@I_Died_2_Weeks_Ago]

Cashed out up 60% last week in gold miners 🤫

[@marcelinoperez2926]

@@I_Died_2_Weeks_Ago I sold only 5 % of my shares in miners at the top. I stay invested with two miners. 60 % of my trading portfolio Won't sell them. Sold too few. Did not expect that downturn. You was lucky. I like that.

[@bngh12ful]

No way, my phone auto played this one lying down, I thought it was recorded this week, not 3 years ago reflecting the facts

[@word9189]

Yup me 2

[@sdozer1990]

Sorry. I may be mincing words, like "tradable" and "liquid", but here's my take. I think the primary lesson here is there is, at any one time, only a fixed stock of goods and services, all in a whole at a fixed value. When the government consumes it, you have less of it to consume and your tradable and liquid commodities, such as your dollars, are worth less. When the government leaves it for you, you have more of it to consume and you get more value for your tradable and liquid commodities. Another lesson is that when the whole pool of tradable and liquid commodities grows and the whole value of goods and services produced does not grow, the prices increase to account for the growth in liquidity as well as the drop in the value of goods and services. Also, when the pool of tradable and liquid commodities shrinks and the whole value of goods and services grows, the prices decrease to account for the shrinking in liquidity as well as the increase in value of the stock of goods and services. Finally, when the government taxes, it leaves less money for the consumer to purchase goods and services with and intends or plans to use the money for consuming a portion of the stock of goods and services. It could provide a rebate, however, so it's merely intention and not action. Also, when the government spends, it puts the intention of consumption into action and leaves less for consumers.

[@evolor]

1:50:13 😅👍 Ahh.. this is one of the reasons why we love you Peter, sense of humour.

[@johnw881]

Excellent job Peter. This format suits you tremendously. One big thumbs up! jw

[@andymartin2805]

When you seek expert advice, seek it from an expert. Peter IS an expert and I believe what he is saying. There is a crash coming and other big thinkers are saying the same thing. US Govt policies are ruinous. Together with the Fed, that's a marriage on the rocks.

[@neil03051957]

It would be good to know the timescales of ramping up of inflation to hyperinflation ....

[@workwithnature]

If you could not print more fiat then it would be sound money. Gold is sound money because you can not print more. Some cryptos are sound money as you can not print more!

[@Farmynator]

It's being copied by thousands of other crypto currencies, so no, its not sound money. It's an inflated market of the same shite as the basket of fiat. Same concept but digitised.

[@Alfie-ni7lx]

price of bitcoins 20k - 3k - 12k - 9k yeah thats sound af m8

[@workwithnature]

@@Farmynator No , as I said. "Some cryptos are sound money, as you can not print more!" That is not inflation. There are different crypto's doing entirely different things. Just like there are different metals doing different things. Well bad example as some metals do do similar things. You just do not know anything about this subject and rather than informing yourself, you take the lazy way out and disregard it as shite. I do get why, but what you said is simply wrong.

[@johnphillips92]

This is great Peter here Jamaica I'm following closely on what's happening . I would love for you sometimes to give us your economic views on Jamaica economy . The reasons for this guys is this Jamaica stock market was just pronounced at the start of the year by Bloomberg as the best performing of all markets in 2018 and as well 2105 . One of the reasons for this is the massive restructuring the Jamaica's government undertake on a IMF program bringing debt to GDP from 150% to 100% , current account deficits srink massively as well the fiscal deficit was almost wipe out , inflation plunge as well with Jamaica recording even deflation few times even though on a monthly basis . Do your homework n research on this Peter n share our views with us I think we can learn more about economics by comparing these stories .

[@hmmob3956]

9:48 following. How do defaults lead to a contraction of the money supply? Suppose party A has lent money to party B. Party B buys goods/services from party C with the borrowed money. A year later party B fails to repay party A. The money still resides in party C's, say, checking account. While party A has less money/wealth than thought, the money is still in the system. What am I missing?

[@andymilic4093]

Dick Trickle, lol, the best name ever in the History of NASCAR Racing!! Imagine the parents state of mind 😮 the day they signed his birth certificate?? It all worked out well I for Dick,lmao, miraculously. Reminds me of a guy who was in my gym class named you guessed it, Mike Hunt !! My God, I recall being suspended for three days from my school. After I walked out across the hall from my gym class & into an empty main office , with the secretary absent & pages him to the office, barely stifling my laughter. I busted out laughing when I walked back to my class,-& looking back , I'm guessing how I gave myself away & got caught , after the fact. It was worth it,never laughed so hard in my life.😂

[@jlh6452]

Like your dad you are a great man; a genius with a common touch. God bless you and thank you for educating a propagandized world. Your dad is smiling I'm sure..

[@GenXstacker]

"I don't know when some of these guys are going to throw in the towel. Are they going to wait for gold to go to 1500 1600 2000?" YEP🤣

[@eastudio-K]

Thank you Peter, great video as always, I will be buying your fathers books

[@robertcartino9677]

PETER, YOU JUST DON'T UNDERSTAND MAGIC...

[@wearewaves3106]

lol

[@toomuchdebt5669]

Magic currency and unicorn assets of fairy tale proportions. I must admit it is all beyond my understanding.

[@Eagleorify]

Voodoo economics lol

[@losttale1]

@@Eagleorify 3DFX economics

[@fishies9804]

Hah

[@john-cp8kx]

We must look at inflation/deflation as occurring at the same time. This is because we have two economies--an economy for the very wealthy and an economy for the rest. In the economy of the wealthy where the bailouts and quantitative easing transferred billions to the wealthy, there is inflation in the cost of private jets, yachts, art, and housing in the multi-million bracket. In the economy for the rest, the jobs are more scarce and wages low. In this economy, the prices are still stable or deflating. However, when production of items in the deflating economy slows then there will be inflation. When that production switches to the economy of the wealthy prices there will decline for the wealthy and increase for those in the other economy.

[@mR-dc4oq]

john being in the second economy of working stiffs, I say you are wrong! Inflation is here, healthy, and going no where soon! How do I know? I look at my grocery bills. 10 years ago I walked out of Trader Joe’s with 2 bags of groceries for $25. Yesterday I left with 3/4 of a bag for $60! The organic chicken breast that used to cost me $5 now costs me $9! I, as others do, see the size of the products I buy going down while their price stays the same or increases. Currently, housing is ridiculously expensive. The real estate I bought in 2014 is now worth 33% more.

[@avx4281]

Thanks a lot Peter.

[@LibertarianRF]

I saw a bottle of Listerine for 9 bux in two different stores

[@ElGallo978]

Extremely overpriced, specially when you could buy hydrogen peroxide instead for $1 and it last twice as long if you diluted it. But I get the point, things are way too expensive.

[@MR..181]

Rob F ..stopped buying at 2.59

[@anniealexander9616]

I just bought my daughter a $10 bottle of shampoo at Wal-Mart.

[@bena2591]

Yeah, I started making a chemical free and cheaper version,clean water(half a liter or about a big listerine bottle worth), sea salt (4-5 table spoons) and peppermint/tea tree essential oil (20-30 drops total). Probably cost me $1 and avoids the chemicals.

[@lenient1438]

Hi Peter, I'm Norwegian. Why the heck should we not be building up our sovereign wealth fund? As opposed to almost every other nation in the world we have actually managed the income from our natural resources well. You say this is wrong, and we should rather adopt its antipode, for instance the american model, and not save anything? Now I know you don't believe in the current american model so what the heck kind of self-contradicting opinion is this? After all we actually have the savings to account for the pensions of our baby boomers.

[@RagnarLothbrok2222]

1:50:21 Peter Stiff 😎

[@maxmagnum73]

I'm still stacking gold and silver how much more time do we have before prices go sky high?

[@scrantoncity1]

Peter, do the next one on modern monetary theory!

[@Bosniake]

kzbin.info/www/bejne/rmTTc2WkoZJ1iKs

[@wazzadec16]

Thanks for uploading Peter and keep up the good work!

[@sanpedrosilver]

Do this more often Peter! So much valuable info. Thx for taking the time to answer/explain ✌🏼

[@dwadholm1]

Isn't it possible that the expansion of money supply is causing inflation but at the same time the inflation is just counteracting deflationary pressures?

[@truthseekingtroll3575]

I used to follow this dude religiously since high school which was 7 years ago and since high school he's been claiming the economy will one day collapse.

[@user-lu6yg3vk9z]

It’s collapsing he is right. Collapse doesn’t mean immediately , but over time.

[@gerharddanner2038]

it collapsed in 2008, it just been kept alive be QE and low interest rates. This makes the bubble bigger and the felt collapse deadly.

[@MarkWatch87]

Peter, the CPI is right but the problem is that it's shows only the current rise of the prices for the current year but doesn't represent the compound effect from the past years. It's working just like the government, giving money today but stealing it from you're back pocket.

[@derickonfire]

Love this format, but please add a chat element to have live stream chats in your screen for watchers after-the-fact. It's nice seeing everyones chat scroll by, and helps with the context of things.

[@NortonWestwizard01]

But how is this theory affected by huge drop in dollar velocity; I.e. banks and public is not spending, loaning the extra paper money.

[@kurtjohnston8370]

drastically affected I believe, I have heard Jim Rickards speak extensively on it and has been dropping throughout western economies since late 90's apparently...

[@jeffm.7335]

@@kurtjohnston8370 If you watch Dalio's video on the credit cycle, you'll see that the reason for velocity being so low could be that people have an uncomfortable amount of debt. They aren't willing to take risks that expand the credit. The monetary base increased nearly 5 fold after 2008, but this hasn't led to much inflation because there is little demand for credit (no matter how low interest rates go). If student loans are forgiven, then you may see velocity increasing. The Democrats (in the US) are offering some expansionary plans that may cause velocity of money to increase and could result in more inflation. In regards to Peter, he has been saying the same thing for almost 15 years now. He's been right once. He needs to learn from his mistakes.

[@kurtjohnston8370]

@@jeffm.7335 Very interesting stuff, thank you. In Australia the debt is owned by the gov in a national scheme where the figure is tied only to inflation, you do not have to pay exorbitant interest. If the mainstream right wasn't so batshit crazy against state action in the US it would be a perfectly reasonable middle ground, remember that the debt is ultimately other people investments and would likely cause civil unrest for the gov't to ultimately force a large section of investors to completely write-off not only their return but also what initial equity that they had in it.

[@angelitavenegas5619]

Thank you for helping us little people to understand better with your knowledge , thank you Peter...thus helped me a lot

[@ramilioverduzco]

It's deflation.

[@K48Chris]

Absolutely brilliant video Peter. Good subject. Very timely. Thanks.

[@BDParadigm]

Hi Peter, for deflation, dont you mean stock market and housing collapse? Isn't that coming? Currently, housing prices already went down in Australia, malaysia, Singapore.

[@ludwigbeethoven3119]

Violence or peace? If both what will be the most violent places in the U.S vs. safest places...

[@sang3Eta]

While house prices are rising, it's inflation, while they're dropping, it's deflation, because 90% of the money created for a mortgage is new money created out of thin air by the bank! Inflation, is by definition, an increase in money supply.

[@marekgiedyk512]

I wish you were right im gonna follow And buy gold And silver VIA etf what do you think about Polish stock market given that USD is goin higher to PLN and stock market certainly lower do u think its a good bargain?

[@armendibishi7985]

@Peter Schiff at 1:20:10 you said " the only way new money comes into exsistence is throught central bank" but does not new money comeninto exsistence also when comercial banks make loans?

[@brictator]

19:30 inflation or not, USD and all western welfare state currencies are way down against Southeast Asian currencies especially Thai Baht since Dec 2016. I know those economies are strengthening but even they say the cause of their currencies' appreciation is what the Federal Reserve is doing in the United States

[@gerharddanner2038]

in feb. 2015 I bought for 50 % of my assets the Thai Baht, got 44.04 for 1 Euro. Now it is 34,30 to the Euro.

[@brictator]

@@gerharddanner2038 yeah. used to be 41+ baht to the USD first time I came here in 2005. Now we are down to 30. you can earn decent interest on Baht too, on top of the (so far) appreciating currency compared to western money. The original exchange rate till the end of Thai silver currency in the 1920's was less than 2 Bht per USD. Of course along the way it got closer to 90 BHT per USD in the wake of 1997. So keep an eye

[@marcelinoperez2926]

KZbin changed my Notification to your video, it is no longer available. I have saved the video before and can still hear it.

[@marcelinoperez2926]

By the way, a good idea the videos with the lifestream. I would intensify.

[@blubuddha]

oh man! how did i miss this live? Loved the last one. Love Peter!

[@thereignofthezero225]

Why 500 ads on this video? Smh

[@angusm9419]

I agree that we are in a massive Fed induced BUBBLE. I struggle with asset prices/consumer goods going much higher if the economy collapses. What am I missing?

[@Adrianpublandlord]

Google hyperinflation

[@MMGinvest]

You're still on!!! Hahaha I bought your fathers books

[@GoldGunsandGolf]

Why would you go through the trouble of doing all this paperwork when you can just go buy it online? I think people would rather have their gold private....

[@Sky1]

The big question is where do we put our wealth real estate precious metals stocks commodities foreign funds I don't know

[@gregmaxwell7636]

I appreciate the definition of the terms. So many people argue a point without even defining the terms and are really just talking past each other. That's frustrating for a viewer. It's interesting to realize that one of the reasons the government wants an inflation of the money supply is to steal the benefit of prices that would naturally be going down and advantage the Citizen. But the consumer wouldn't even notice it like the frog in the pot. I always understood they expanded the money supply to depreciate the value of their borrowing - borrowing a trillion to pay a quarter billion back. But stealing the benefit of what should be lower prices (increased buying power) is just another example of stealth taxation.

[@amazigha5045]

Webster Dictionary was GOLDEN!