🔴 Soaring Consumer Credit Means Higher Consumer Prices - Ep 866

· The Fed will surrender to inflation in 2023.
· Recession will be the Fed’s next battle, and they’ll lose that too.
· Inflation is expanding with money supply and credit supply.
· Consumers in debt are going out with a bang.
· Republican compromises continue to err on the side of big government.
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[@peterschiff]

💬 Join my Locals community to get The Peter Schiff Show ad-free and a day early! Plus get access to special live reports and Q&As. Visit schiffradio.com/premium/ to become a member.

[@anthothiyahisrael422]

No one has to file bankruptcy now, we discharge everything.

[@funkspinna]

CPI down again.

[@SamsungS-or1qf]

When people figure out the FED is powerless, we will see the biggest crash ever.

[@b.a.macnab6209]

Mr. Schiff, Another great podcast, I always look forward to listening and learning from you. Try and keep in mind that, I speak for myself, that I have a bit above a high school education, and that I understand most of what you are (learnin us, lol)in the state of affairs that is not just local or even American but is around the world. Can you please tell me more about the " Digital Dollar" and how this will affect the monies I have under my mattress? I do value your opinion. Ben.

[@bkcellularking6772]

Peter can you do a segment on ERC tax credits. How has this affected the money supply? When is this budget going to dry up? Business are getting more than PPP, adding more cash flow to the economy with no restrictions or requirements. No one is talking about this.

[@MrAnderson3]

Because of you Peter, I made my first purchase in Silver and will be buying gold every month for years to come. Thank you for spreading awareness on these incompetencys our governments have become accustomed too

[@maximumliberty]

Buy gold for years? U rich?

[@MrAnderson3]

@@maximumliberty You can't buy 1oz of gold a month? 🤯

[@SurfCombatant525]

I come for the one of a kind analysis. I stay for the Cathie Wood digs. Thanks Pete!

[@duanejackson6718]

I too enjoy Peters comments on Cathy Wood. What she took from investors were getting back tenfold in humor.

[@son-of-the-republic3723]

Peter is the light in the dark. He always tells the truth to the best of his ability, even when he knows it could get him in trouble. He is a warrior among men

[@wanderingdoc5075]

The light that literally has never had anything positive to say in a thousand hours of podcasts.

[@padraigdevitt8755]

Well said … the man’s a legend

[@30guarino]

@@wanderingdoc5075 he ❤gold lol

[@SiKxJayTee]

Schiff, you mean one of the worst investors with one of the lowest returns consecutively for nearly 3 decades? He mostly doesn't even beat the s&p 500. His own economic philosophy is contradictions to his investments. He is one of the best excuses to limit free speech. Horrible ideas are suppose to be challenged and beaten in a open speech market, but instead, thousands of libertarians lives are ruined following his advice. I mean even the fact he only had one good investing year out of 30 years should be proof enough. But people will blindly follow people based on their ideology, instead of their performance. Sad honestly

[@firstnamelastname3280]

@@wanderingdoc5075 can you name something in the economic/financial area that's positive?

[@sanpedrosilver]

Work with a guy who opened 5 or 6 credit card accts in 1 night. Maxed them all out on physical PM’s. In a debt consolidation program today.

[@pameladale3087]

*I don't know who needs to hear this but stop saving all your money. Venture into Investing some, if you really want financial freedom*

[@pameladale3087]

The reason many people venture into Trading/ Investing (Financial Market), is so that they can get to have a better life, while working and even after retirement. The wisest thing that should be on every wise individual's list is to invest in different stream of income; am earning more this year because I have been investing while working at the same time.

[@pameladale3087]

I Invested through TRACY BRITT COOL FINANCE, same woman that an anchor kept mentioning on CNBC, she is licensed and made multiple of my start up capital within three months.

[@pameladale3087]

I Invested across the top markets but not by myself though. I also follow the guidelines of Mrs Tracy Britt Cool. I can correctly say she is worth her salt as an investment advisor as her diversification skills is top-notch, I say this because of the results, as my portfolio grows by averages of 20 to 30% every month, unlike I can say for my IRA which has just been trudging along. my portfolio just mirrors what she places and not just on some particular industries of my choosing.she gave me that financial freedom I needed.

[@pameladale3087]

@Uncle BIG Make your Research and look her name Up online TRACY BRITT COOL FINANCE.

[@pameladale3087]

Search her up on the web with her name. She's quite popular for her services. She can work with anyone irrespective of where you're located. drop a msg or you can communicate with her

[@SilverLife-oi4ng]

Peter sure painted a pretty picture!! I'm glad I listened to him!

[@brittnyrv5087]

Your so right about the left and right. It's two sides of the same coin. Are they insane, corrupt or just stupid? Idk who's in charge of this crazy train.

[@thechicantique4567]

Inflation is nowhere near coming down! Burger King just raised prices on their coupons from $2.99 & $3.99 to $5.99, Saladworks salads went up to $14.99 from $9.99, and Wal-Mart almond milk from $1.99 to $2.44. 🤯 all this week btw...

[@willmartin1637]

Eggs. Nuf said. If china reopens I am curious what happens to oil and gas.

[@thechicantique4567]

@@willmartin1637 oh I almost forgot the $17 eggs in LA, 😂🤣🤯. I wonder that as well....hmmm.

[@thechicantique4567]

@Satoshi Nakamoto exactly 💯!!

[@Seafarer62]

Same with the Arby's coupons. The 2 Regular Beef & Cheddar coupon went from $6 to $7. Wonder if CPI ever measures that?

[@jabman549]

yeah I could get a dozen jumbo eggs for $2 (and sometimes under) 2 years ago....now almost $7.

[@rasowa2958]

The ad-free podcast is sponsored by Bambee. 🤣

[@The_Angry_BeEconomist]

thats BAM to the be eee eee

[@PeteJDunn78]

Peter is at it again! I am inspired by his channel. Peter inspires me to continue my own KZbin channel on finance and investing.

[@bogdanlevi]

Good luck with the channel. Seems interesting.

[@timgibson3754]

@ Pete J. Dun 0h no You got spammed

[@drgreenthumb8038]

I'll give you a Sub to help ya out!

[@africanfitnessconcept]

When worker ask for a raise, Peter cry about it because it causes inflation, I wonder why suddenly wage growth don't cause inflation anymore? Peter schiff is very smart but he is the wolf masked as a sheep.

[@SebA-qh4rd]

Once again timely advice from Peter for all to live within their means, reduce inflation from over taxation w/o representation, and the necessity of sound employment in the private sector as it relates to the healthy way to handle inflation with increased services and competition,.... Keep up the fight Peter..it is so needed to hear!

[@nellosnook4454]

Well-said, Seb! 👍

[@sorrycharlie4127]

Peter Schiff! If not the smartest guy I listen to about what is really happening in the world of finance and money... Then at least the most articulate guy on KZbin when it comes to explaining to the average person exactly what is happening in the world today!

[@Amivgr1]

I simply cant fathom how the inflation in the U.S can go down. With the insane money printing that the FED has perpetrated for almost 2 decades

[@gingerdude94]

I wonder how many of these people are maxing their credit cards in preparation for bankruptcy? Why not stock up on stuff if you're not planning to pay it back?🤷‍♂️

[@Theashleydenise]

Good point. I’m sure we will have a bankruptcy tsunami coming!

[@thechicantique4567]

Bingo!! That's exactly 💯 what's happening.

[@walkworthy]

I did it 15 years ago..maxed its all out to the tune of about 50k.

[@chrisruss9861]

@@walkworthy Would buying gold have been a good strategy?

[@bigb6046]

Bring back debtors prison LOL

[@anonymousAJ]

I think the Congressman introducing the bill should have to read it out loud - would cut out these 4,000 page monstrosities

[@bigb6046]

Peter is right that people will charge more stuff right before a bankruptcy. I knew a couple of people that did just that a while back. They figured "I am going bankrupt anyway, what is the difference between 50K and 60K ?

[@fuckoff187]

maybe 2% of ppl are smart enough to do that.

[@peterpiper3790]

It’s crazy that they don’t have to give up the items I mean someone should come to their house and take their items from them

[@morganvon5664]

@@peterpiper3790 They do have to give them up. Most large dollar purchases like jewelry, electronics and furniture are considered secured debt. So those items can be repossessed by the lender.

[@vitalsigns6403]

Peter great show! Thanks! - you have not commented on the US residential housing market for awhile. Despite the higher rates, house prices (aside from a few bubble markets) remain at record highs, and existing inventory and new listings have crashed to very low levels. No crash in house prices!🤷🏻‍♂️

[@Ziegfried82]

House prices are actually plummeting in several major cities, it's not just a few bubble markets. Once the cost of maintenance/repair gets too high due to inflation there will be so many homes on the market you won't believe it. But we aren't there yet first things first let's see how well people manage their property tax with these insane home values first.

[@vitalsigns6403]

@@Ziegfried82 Well sure prices may be coming down in some markets, however they went up 35-60% in just 2 years! So I dont see them going down very much at all and there is no existing inventory. The new builders are dealing, and yes transactions and refis are down. We will see

[@axeljacobs9723]

Peter, you Are Right again! -Shalom!👍😊

[@roughhabit6496]

Great podcast Mr Schiff. I like it when you mix it up a bit and it’s not all market talk. I agree , I don’t think there is Left and Right anymore, just Left and Further Left.

[@kurtleimkuehler]

Once no one takes the moral high ground there is nothing left of your nation.

[@denopellegrino7326]

Go through the motion's government, Sound about right, another great video Peter

[@robinturek30]

31.5 trillion of national debt means that every American of the 265 milion working class has to pay off almost 120 000 $ per each person. How is that supposed to happen ?

[@markminister2599]

There will be a huge transfer of wealth.

[@norsefalconer]

Plus interest.

[@jude999]

@@markminister2599 BINGO. And the Democrats will go after private retirement accounts.

[@DBEdwards]

It's over friend. We're all waiting for the cheque. The restaurant has closed.

[@mihailudusan2950]

Through hyper-inflation, most likely

[@danjackson2987]

New podcast new podcast new podcast!!!!!!!!

[@Loosh4]

You used to do a lot more podcasts before you went to Locals.

[@BB-qp5xo]

I would have loved to see you in the senate Peter. Cat among the pigeons would have been amazing.

[@hornet224]

😊 "Everybody has a plan until they get punched in the mouth" 🤨

[@johnmcminn9455]

isn't that a Mike Tyson Quote! lol 🤣🔥

[@kenyang687]

Problem is that: the less people earn, the less they save. They rely on the government relinquishing their debt, which the government has helped very much turning it into a habit.

[@avx4281]

Thank u Peter.

[@thechicantique4567]

QVC which owns HSN is America's largest "buy now pay later" company. I've always wondered what happens when the 4 or 5 easy pays aren't available when hit. Does that get reported? 🤔

[@thechicantique4567]

@@airgin3000 exactly what they are! 😂😉

[@jacobfurnish7450]

I know he says put money in the bank, but when you have 10000 dollars in the bank and you get 3 cents back for the interest, that's not very motivating.

[@lr5397]

Budgets and government spending could be so simple if they would only revert to the dynamics of household spending! First, do you have the money to duscuss a project; second, each project is considered individually. You, Peter, are spot on with your analysis...these government officials are "city street slime" ! 🙄😂

[@barnabusdoyle4930]

The issue has become that there are only maybe 10 pieces of legislation that get through Congress a year at this point. This has all the politicians throwing their pet projects into must pass legislation as a way to buy their vote. This allows a bunch of stupid projects to get funding without debate. Our dysfunctional government is going to be what eventually destroys the country

[@BIgBass255]

@10:00 I only have one credit card since 1973, I have never paid one cent in interest ever.

[@willmartin1637]

State government workers are getting pay raises. If they wanted to ding employment they would already be doing it by a massive government furlough not dinging the private sector tax payer.

[@carter3294]

Economists and business leaders are voicing concerns at the start of 2023 that the year could be a difficult one. JPMorgan Chase & Co. Chief Executive Jamie Dimon said Tuesday that the Federal Reserve may need to raise interest rates to 6% to fight inflation, higher than the peak level between 5% and 5.5% in 2023 that most Fed officials penciled in after their December meeting. Still, he told the Fox Business channel that solid consumer spending is helping drive a strong economy.

[@floxydorathy6611]

Very true! I've been able to scale from $350K to $650K this red season because my FA figured out Defensive strategies to protect my portfolio and profit from this roller coaster market.

[@user-3456rtu]

@@floxydorathy6611

[@floxydorathy6611]

@@user-3456rtu Having a coach is key in a volatile mar-ket, My advisor is "CASEY ALLEN GRAY" You can easily look her up, she has years of financial-market experience.

[@user-3456rtu]

@@floxydorathy6611 I just looked up CASEY on the net and scheduled a call with her. From my research, she seems very proficient so I wrote her detailing my Fin-market goals..

[@patrickt873]

They just want a return to cheap money so they can manage the stock market

[@ivankovachev1784]

Peter all good there buddy? Refreshing Spotify every day, and still nothing new there since last Wednesday

[@theodoreboosalis]

Fed loves inflation - so that's an easy surrender. TY Peter for all that you do.

[@Plantbased7]

They love it because it’s a hidden tax.

[@theodoreboosalis]

@@Plantbased7 Yes'm. I agree.

[@johndoe1.196]

The government *needs* inflation.

[@JohnSmith-kr6ek]

Thanks for your commercials I got a job on indeed and telling me about pay later apps I currently have $1500 of stuff I'm paying later.

[@DBEdwards]

We are all in the Wilderness of the Sinai. Peter shall lead us to the promised land. He has come down from the Summit and knows the way

[@johnmcminn9455]

Jewish Peter, points out who really fits the stereotype

[@chaddy-me-boy8299]

Does anyone have how much of the 32t debt in treasuries/mortgage is coming due when? 2023, 2024? Gov website link? Knowing how much is going to be at higher int rates?

[@hvaball150]

I can tell you about 6T is in foreign investors and they receive about 300B in interest per year. after that, nothing is due that has any real impact on foreign investors. ...and none of the rest of it matters. period.

[@mzuribeauty4287]

Thanks Peter, very informative

[@johnmcminn9455]

I just want to say there is a Federal Judge in Bancruptcy Court, who looks at frivolous spending if you go on a spending spree you better have a good lawyer. Federal Court is no joke, and Bankruptcy lawyers are not cheap

[@shanejmd]

Peter, I don't think you fully understand the value to banks and credit card companies to create debt. They will write it off if it's not paid off. They are creating this "credit" out of thin air and then use fractional reserve banking to invest and make money on that credit creation. This is why they don't cut consumers off when they are clearly deep in debt and running up the credit cards. In the end it really doesn't hurt these lending institutions.

[@siferd18]

I love the space force bit haha 😄. Great content thanks Peter.

[@jodrhh]

Good advice, gonna max out my credit cards and open new ones before filling for bankruptcy

[@hvaball150]

I recommend buying a boat with it. boats make you look successful.

[@jodrhh]

@@hvaball150 That's rock solid sound advice, thank you! Will do

[@fuckoff187]

hes used that line before years ago to try and explain better than expected data. maybe 2% of those ppl who file bankruptcy are smart enough to do that.

[@flethacker]

there are specific rules in the bankruptcy code that do not allow you to do this

[@peterpiper3790]

@@flethacker Yeah, otherwise Peter is giving some bad advice for people to encourage them to do that😂

[@prakash.srn.17]

Thank you for being a guiding light in the darkness. Always a good day when you release a new episode 👍

[@stockmarket_killer7569]

Big factz

[@Al-yf7tm]

Michelle needs to apologize for what she said to you during the Mashinsky debate.

[@se6586]

Michelle was hot & steamy after Peter yelled at her she was loving it

[@mm-jx7gf]

Credit card companies sell probably $200 - $300 million or more each MONTH to secondary debt collectors, which is the biggest reason why the interest rates are so high.... they don't care how much they write off since they will always make a lot of money from the interest they collect.... if you pay the minimum bill every month you will always get credit. I don't see any part of this system changing...

[@debbimoseleyprince]

ABSOLUTELY! They will never stop this money making train. I was laid off from a middle management job in the collection department of a large bank back in 2016. I changed careers and used my credit cards to survive. Before I knew it I had over $80k in credit card debt because everyone was always giving me a new card back when I made steady strong income. I used to easily pay off my balances each month and was almost out of debt when the carpet was pulled out from under me. While my income was returning, I quickly realized that I needed to walk from all my unsecured debt. At first, I thought I could pick and choose but found that I was better off calling it quits on all but my credit union credit card. I knew, because I had worked in the collection side of a bank, that I just needed to wait until they would consider settlement. I went one card at a time and negotiated each balance. In the end, I paid off all the debt at about 40% of the balances. Some refused to take less than 50% and some took as little as 25%. You don't need to file bankruptcy and you shouldn't because recovery from a bankruptcy on your credit is worse than settling the charge offs. I paid off everyone in about 2 years by killing myself in my commission job and in less than 2 years after they were resolved, my credit score was strong enough to move into a new house last year. My point is that I know that I'm not the only one who knows the system. And a lot of people just navigate their monthly income with no understanding that just because someone gives you credit doesn't mean that you should use it. The credit card companies are only out to make money.

[@MM-ln4ym]

@@debbimoseleyprince Congratulations on your successful repayment and negotiating skills. I would try and do the same since I also know how these credit card companies work, especially with chargeoffs. Most of them would probably want to work out some type of repayment plan that gets them back more than a receivable sale would yield to a debt collector. My guess is that you had to provide some financial information to convince them you did not have the means to satisfy the actual balances. However, you are the exception as most people would just file bankruptcy or go to a company that negotiates and consolidates outstanding credit balances. BK is definitely bad for people's financial future. But getting hounded and sued by collection agencies is also a terrible experience. Way too many people are not financially responsible and spend beyond their means, and a big part of this situation is the ease at which credit is extended, just as you stated. I wish more people would get educated at how to manage their finances. Good luck...

[@jchan59]

Relying on government to stop spending itself is a hopeful bandaid to the solution of getting of the entire apparatus.

[@sandikennelly1357]

The holdouts wanted a more conservative speaker. For example McCarthy voted against term limits and a balanced budget. America can’t keep running up it’s debt unless we want to become a third world country. The holdouts did the right thing in order to get out of control spending by Democrats stopped.

[@James-kd1kp]

The USSA is already an overpriced banana republic. 🍌 🌞

[@carlosfernandoasencio2105]

Why does the Fed has to buy unwanted treasuries from private buyers ? 5:51

[@rodneyleon3645]

Was NOT ad-free.

[@jimmyhat3438]

Quality of Life is most important thing

[@markminister2599]

So true.

[@davidfield4432]

Peter… probably not the brightest idea to advertise to people how to “steal” by obtaining credit just to declare bankruptcy. Legal or not.

[@PassportBrosBusinessClass]

I use credit cards to pay for EVERYTHING. BUT...I pay off my balance EVERY SINGLE OTHER NIGHT. Using CASH doesn't make sense - you get nothing for it. Using my Credit Card gives me REWARD POINTS. When I travel, I have enough Reward Points built up over the year to pay OFF my Condo stays abroad. I also fly BUSINESS CLASS ONLY. I am being SUBSIDIZED by all the people who don't pay off their bill at the end of the month and run revolving balances. I REFUSE TO PAY ANY INTEREST. I buy my cars CASH. My next car is a Cadillac LYRIQ AWD on preorder.

[@Ziegfried82]

Every single purchase you make at a major retailer is charging an extra 2.5% or more for the honor of accepting credit cards. Credit is a ripoff both for those who use it and those who don't. But especially for those who don't.

[@PassportBrosBusinessClass]

@@Ziegfried82 You just made an assumption I paid a credit surcharge.

[@PassportBrosBusinessClass]

@@banhammer3904 You’re making an assumption I pay surcharges. You’re also not taking into account that the cash buyer pays the exact same markup the merchant factors in to ALL sales.

[@skydiver711]

The congress is doing exactly what you described the credit card holders are doing. Spend as much as their creditors will allow them to because they know good and well it will never be paid back and they get to keep all the stuff!

[@jeremybaldwin2840]

I agree social security is a runaway train. The govt gives it to people who don’t pay in to it. But…..I’ve payed a lot into it. If they take social security away then I want the money back that was stole from me for social security.

[@notice9218]

You trusted that the government would keep their promises. That was a mistake, painful lesson, but necessary. You did not pay *into* anything, there is no account with your name on it with the money that you paid. You paid for the recipients of SS who retired while you were working. They spent that money and died, and it's now gone. We've tried to keep SS going for an extra few decades by saddling my generation, and my children's children, with 30 trillion in debt. The bartender has to cut off the drunks at some point. Will it be 40 trillion? 50? Who knows, but we will certainly pay the price for your mistakes.

[@floridarich9250]

LOL!!!!! Good luck "collecting."

[@xokelis0015]

I think the way it should work is the government should give people a choice. Those who are already too far in and counting on it being there stay, and the rest of us can cut and run. I'd rather take the loss, and not be charged for something I'll never get to benefit from when I retire.

[@ippothedestroyer]

You don't have to worry about getting paid back. They can always print to give you your share.

[@rlkinnard]

Get it from the people who collected it and not from the taxpayer.

[@roydesell223]

To lower inflation, all the Federal Reserve or any central bank must do is contract the money supply. If in fact the Federal Reserve really wanted to lower inflation, they would increase the capital reserve requirement of the banks, which currently sits at zero, this would contract the money supply.

[@healthyone100]

When they raise and lower intrest rates is that the rate it cost us to borrow money i'm confused! Thank you!

[@andrevezina1]

Happy New Year Peter ! Best financial podcast without a doubt!

[@DBEdwards]

And that Peter delivers is beyond amazing.

[@nexeroth7151]

Peter you need to get ahead of them claiming negative inflation when the yoy number gets negative. They are going to call that deflation.

[@faithsrvtrip8768]

I pay off my credit card balance, in full, every month for points / cash back! So easy if you set it up in advance. Oh mind your budget, too, ofc!

[@hvaball150]

I prey on the poor too. thanks for sharing. I also steal their shopping carts in my spare time.

[@5FmUke]

Thank you Sir Peter The Best Wise. You are legendary 👑🏆

[@rlkinnard]

Yearly inflation came down to 6,5% in December from 7.1% in November. If you look at it from the 3 month perspective, it is more like 3 + %.

[@treavey1]

you can't really go bankrupt on credit cards anymore that was changed decades ago so you can only go into a long-term permanent repayment plan.

[@polarisjustdothework2258]

Peter, what would it mean if many for-profit companies transitioned into nonprofit companies during this economic downturn? I know that is absolutely not the point of capitalism, but our free markets have been so distorted that it is not really capitalism that is at play right now anyway. It just seems like a shift such as that may keep our way of living alive.

[@JSICycles]

You can’t just change to nonprofit without qualifying under one of the code section 501 exceptions

[@polarisjustdothework2258]

@@JSICycles yeah that's true, many other challenges as well I'm sure. No need worrying about the future, that said, I'm a bit worried we are gambling our way into a recession 💔

[@digger105337]

People won't "Save" money until a meaningful return is offered by banks, 8% plus is what will do it. So where does the Fed rate need to be for them to offer that? Yup, that high. Inflation will be defeated when the fed rate is above 10%.

[@DBEdwards]

Gold is the trade of kings. Silver is the trade of gentlemen. Barter is the trade of peasants. AND DEBT? Debt is the trade of slaves.

[@BIgBass255]

We need to get together you old dog.

[@DBEdwards]

@@BIgBass255 An..hahad THAT I am. Haha!

[@DBEdwards]

@@BIgBass255 And that I am haha!

[@mhenrique4860]

Here in Brazil credit card interests are 400% (four hundred percent) PER YEAR !!! MAFIA STATE

[@peterpiper3790]

GREAT!

[@realCriticalthinker]

There it is the Peter Schiff bottom indicator. Time to go back in boys. Yeah he called 2008 crash, but he's always calling a crash. He's been calling another crash as the smart money's getting back in.

[@jfuite]

00:40:00 Peter Schiff: "You have some Republicans who want to cut government spending . . . . but unfortunately . . . . at the end of the day, they always end up caving . . . . maybe they hope to shift the trajectory of the party, but ultimately they never succeed . . . . but they have to at least go through the motions". Also, Peter Schiff (in several past episodes): You can't vote Libertarian if the Republican might lose to the Democrat!!! SMH. Arguing we should vote for Republicans over third parties is his WORST take on ANY issue I have ever heard on his podcasts.

[@Ziegfried82]

Zero reason to participate in the "democracy" at this point. If you voted for the Red Team in the mid terms what did you get? Red Team voting for the Blue Team's budget!! US politics is worse than WWE wrestling or the Harlem Globetrotters.

[@paulberkey5096]

How don't wages affect inflation it increases the cost of labor. I agree that the current inflation environment isn't from wages but wages at least contribute more to inflation. Which is a big argument against minimum wage because you are in essence controlling the price of labor causing an increase in cost and a shortage in demand

[@johndoe1.196]

The worst part of the "ACA" is the individual mandate penalty. Completely unconstitutional, not that the constitution is worth the paper it's written on today.

[@walkworthy]

Hey Pete!

[@douglasmarsh9482]

This is exactly what I've been telling people. As long as the Banks can loan as much money as they want with no Reserve Currency to back it up, they are going to loan it out so they earn their profit from interest payments. What the people don't under stand is: 1. The people don't understand they are paying higher prices for the goods they buy: and 2. The people have gotten used to the easy money supply they could get over the last 50 years, they demand from the banks to keep furnishing that money. So the people are the addicts and the banks are the drug.

[@robertfeinberg748]

I remember that G-span was asked at a hearing whether a trend of rising consumer debt should be a cause for worry. He responded, no, not as long as it's rising. It's if and when it ever turns down that it would be worrisome. Let's Go Brandon!

[@DBEdwards]

Don't worry. Be Happy!

[@robertfeinberg748]

@@DBEdwards Bullshit. Let's Go Brandon!

[@peterponcedeleon3368]

That was some amazing commentary Pete! Thank you.

[@MERCHANTMANMERCHANTM]

Nice atack to BANKS 😎

[@MERCHANTMANMERCHANTM]

Smart guy. Dangerous guy 🎯

[@passantgardant]

All these reasons that you are criticizing Republicans is why many Georgians voted for a Libertarian and didn't think twice.

[@Amaury5k]

Actually. Companies like a affirm only allow debit payments. So no Peter. People aren’t using debt to pay off other debt

[@paultyler7535]

Wow, Peter has managed to mind read everyone with a credit card and has figured out they all are maximizing them cause they never plan to pay them back and he also knows they dont see it as a crime because people always try to get away with whatever they can. He can assert all this without citing one report or interview with a credit card holder, quite the achievement 👏

[@debbimoseleyprince]

He can interview me. Read my comment to M M above. I crashed after loosing my job and had no choice but to live on all the good credit that I had built up. But I knew how to settle all the debt when I was back on my fee. No need to file bankruptcy as they will happily take a fraction of the debt when most became interest after it continued to compound.

[@hvaball150]

​@@debbimoseleyprinceagreed. bankruptcy is unnecessary and overkill that will hurt you for life. just ride out the statute of limitations or settle for a fraction. how is it ok to be on welfare but not to ride out the benefits of credit card discounts. I buy my Disney tickets on sale. groceries, etc. or are you only good if you pay full price for everything. everything. half these stores would be out of business without credit cards used. maybe there is a reason my bank account pays 0.5%

[@jimba6486]

It’s called microeconomics.

[@rexfordhazelton7601]

We may see brief sharp deflation, especially amid a panic. But the inflation train will come roaring back on track with a fresh QE/0%rates/stimulus checks.

[@rlkinnard]

we had .1% deflation in December.

[@wildwisdom56]

"one big pork stew" 💸🍀

[@Lbrack]

Peter love the show long time listener. If I may, would you explain the benefits of using a VPN. Such as if I am in a hotel can I use my lap top safely if I am using my vpn??? I am using the same vpn which you are endorsing.

[@jamesking6030]

Peter do yourself a favor and look into Hedera Hashgraph as they claim to have the capability to tokenize Gold

[@markstanfield7434]

Pork stew. Yummy.

[@lizardking8388]

You said Gold 1788, you mean 1888.

[@UltimateBargains]

Meanwhile, Bank of America is claiming that the consumer is strong because of their record high credit card debt (not using cash or debit cards from their savings).

[@dorispowers9060]

Yea, they are in the business to push you further in debt. As long as you are borrowing from them.

[@Rellikman]

PETER!!!YOU NEED TO DO PEPTO BISMOL COMMERCIALS!!!FFS!!🤣🤣🤣😆😆

[@thomasmanning829]

There is so much Socialism and Cronyism that exists and thrives on lack of honest discussion in America. Whatever happened to heated debate? What happened to those people who were great critical thinkers who challenged the faulty premises of others? America lost of of that. We were told to tolerate poor ideas and weak leaders.

[@ShaniaSuperFan]

I'm offended.

[@albertakitesurfer]

Growing up we had two family friends that declared bankruptcy. When they went for the consult with the bankruptcy trustee, they were advised to max out all their credit cards and debt in advance. I knew another guy that spent years applying for a few credit cards every month. Eventually he had around 50 and then proceeded to max out everything and declare bankruptcy. Moral Hazard indeed.

[@moon1val]

That's excessive... and pre-planned could have ground for legal issues. But people generally maxing their cards and not being able to pay the balance back, therefore declaring bankrupcy isnt a moral issue imo. I mean if you wnana talk morals in finance/banking..............

[@timgibson3754]

Pete I want you to work on created. It's pronounced cre-ated not crated

[@palookakj6622]

Question: Peter, what is the best way to get a society to use gold and silver as money?

[@anonymousAJ]

Wait by the river long enough and the bodies of your enemies will float by

[@TOUGHCHOICE]

@@ThePeterDislikeShow A 5OOO year old one at that and by the way silver is still in the CONSTITUTION, politicians do not READ our Constitution.

[@chaddy-me-boy8299]

My thoughts with Peter is to have a digital crypto gold. My strategy would be to have a chamber of commerce start the process with its members within the county/town. Then it could expand with paying Gov employees within the town with gold, then businesses employees etc. the poorer towns would make out even more, for the same reason they are getting buried now, inflation.

[@mm-jx7gf]

You can use gold and silver coins right now to buy anything you want.... they all have a monetary value stated right on the coin.... enjoy...

[@palookakj6622]

@@chaddy-me-boy8299 I think you are onto something.

[@ilham78]

I actually did that with my loans and cards. I spent it all once I realized i am underwater😄

[@thechicantique4567]

I took a break from finance to jump into the Idaho 4 case....missed you Peter! BTW, how about those gold stocks 😉?! Told y'all.

[@AttainedConsciousnessChannel]

Peter look into GR Silver high grade multi asset in Mexico at 0.09 it's a screaming buy.

[@AK2HI]

I keep waiting for UCORE Rare Earth Elements to take off here in Alaska. Its only a matter of time.

[@Tonyforeman659]

Most times it amazes me greatly the way I move from an average lifestyle to earning over 63k per month, utter shock is the word. I have understood a lot in the past few years to doubt that opportunities abound in the financial markets, The only thing is to know where to focus.

[@Larry_Swanson580]

Wow buddy, that's more than a mouthful of profits you're making. How do you achieve this feat consistently? You must be a genius in trading.

[@Tonyforeman659]

@@Larry_Swanson580 Anyways not actually, what I know about trading almost borders on zilch lol. I make huge profits on my investment since started trading with Mrs Kristin Smith, her trading strategies are top notch coupled with the little commission she charges on her trade.

[@Tonyforeman659]

@Brandon Steve My coin stays right in my trading account, my account just mirrors her trades in real-time.that's the idea behind copy trading.

[@SimonKelly7836]

Have never made 20% of my 15k worth of bit.coin once ever since I started hold from August.

[@LisaRomero.]

Same here, My portfolio has been going down the drain while I try trading, I just don't know what I do wrong, have invested 18k in crypto all have now is just 5,365usd

[@D52M5]

Peter, you are correct and always have been.

[@Profit90PERHOUR]

"If you can't explain it simply, you don't understand it well enough." ---Albert Einstein