🔴 The Debt’s the Problem. Not Raising the Ceiling Is the Solution - Ep 889

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#economy #dollar #inflation

[@RM-jb2bv]

The Peter Schiff Show has become my therapy in the last few years. A dose of sanity in an insane world.

[@sainta2667]

I agree

[@4-SeasonNature]

At least not this episode. Not raising the debt ceiling is the road to lunacy.

[@NewMexicoRaza]

This episode was a black pill

[@chispaadventuresintamarind6910]

Lol

[@aarongoldsten2913]

Thank you Mr Schiff, and just so you know we love the history lessons! Feel free to throw them in there and go into as much detail on them as you wish!

[@panhead55]

I LOVE when Peter goes into history, dates, and events that happened. Still revisit all the old radio shows often!

[@sainta2667]

This man know so much - Gotta love Peter Schiff

[@QuaaludeCharlie]

Thank you for the History lesson Peter.

[@jynx1395]

Peter, you are a true patriot! This country needs more patriots like yourself. God bless you and your family.

[@wildwisdom56]

Peter is a modern day Paul Revere Patriot. Thank goodness he is spewing the truth!

[@dangaines405]

Jordan and Peter! That will be amazing to listen to! You are some of my first go to people on KZbin! Thanks!

[@miri9600]

This was the best lesson on debt so far.

[@codelessunlimited7701]

"The debt ceiling keeps going up because we never pay the bills." - Peter Schiff So much wisdom on economics.

[@clffeingold]

You are so right. These idiots don’t care what happens to America.

[@SeanSauvageau]

I think they care. Their mandate is to force us to fail. Then they can usher in the new Great Society and New World Order.

[@HeresMyView]

They are not idiots. They are crooks with long term intention to enrich themselves indefinitely.

[@matt75hooper]

My lifelong buddy is a 38 year govt hack. I quote him : "We think you people in the Private Sector are complete chumps." He makes $165k a year with amazing bennies & time off. He has a govt car. Beautiful home & awesome vacation home in Maine. He barely got through high school. For the first time in my life I have to agree with him. We are chumps.

[@ramjamflimflam]

And what does society get from his labor? Deeper in debt with no production. Crazy!!

[@stolenjunk]

​@@ramjamflimflam and his arrogance will catch up with him. Selling his soul to the beast.

[@stevebobamerican8635]

A few years ago Netflix said they didn’t care if people piggybacked on their friends. 😮

[@trailandtruck]

I'm still a believer in gold and silver

[@CBUCK1994]

well it is money

[@themoneyfork319]

You and more people than you think

[@4-SeasonNature]

Not raising the debt ceiling will be the final nail in the coffin of the U.S. empire.

[@stolenjunk]

It could be the beginning

[@RealishNPC]

*roman empire

[@markanderson77]

And here's the problem. With the Foreign Account Tax Compliance Act, it doesn't matter where we move, we will still be compelled to pay confiscatory taxes.

[@werdelibertar-mitalexkreis1206]

This is one of your best podcasts ever, Peter. Thank you for staying consistent for all these years.

[@olegpetelevitch4443]

Just bought another 10 oz gold eagles $7 over spot ! Good auction ! thank you Gold and silver physical only 38yrs !

[@Jrome3]

It's so unfortunate that few people take this guy seriously. He makes more sense than anyone in D.C., except for Ron Paul.

[@MichaelSkelton]

Anyone that even hints at popping the Ponzi bubble that the established politicians use to enrich themselves is either ignored by the media or outright targeted. Almost like it is planed that way to keep the swamp muck percolating.

[@panhead55]

He was Ron Paul’s economic adviser when Paul tan for president…

[@stephenhomseydgi3693]

So, Shifty Schiff. Were you just fine raising the Debt Ceiling 3 times under Orange man? Were you fine with the Combined 10 Trillion in Debt Deficit RUN UP (Historic)? were yo u fine it was spent on nothing and no way to pay it back?

[@cf2851]

I suspect many of them know he's right, but they benefit from the current monetary system. They're not all dumb, many are just evil.

[@ritwik5774]

Jesus Peter this has to be one of your best ever videos. Loved all that history you threw in. Brilliantly educative. Thanks very much.

[@ryanryker3298]

Your opinions on Bitcoin aside this is the reason I listen to all your podcasts. Much love!

[@mondolilith7917]

When someone is in over their heads and yet tells their loan shark they need to lend them more money or they're not getting payed... is usually when they lose their ability to walk. And that's if they're lucky.

[@commoncents178]

I had a conversation with my grandfather about the future currency crises. He told me he would be dead by the time that happens, so he didnt care. And I was like, yeah maybe, but your kids and grandkids will be stuck dealing with the fallout. His lips tightened up real quick. It disgusts me that this is how low our citizens think and feel about the state of our nation. Too me, his attitude is soft treason. Too allow your government to enslave your own flesh and blood, and over what? Free money wrapped in the veil of higher virtue? It pains me deeply what this country has become.

[@automateeverything2341]

if your grandfather was part of the greatest generation, I wouldn't put any blame on him. Boomers are the ones to blame. They had everything handed to them on a sliver platter, a stock market that only went up, homes that were affordable, lifelong careers, ridiculous pensions and government handouts, America's good reputation....and they tossed it all down the drain while bankrupting future generations. They created this mess. I dont even blame millennials or zoomers for being dumb and lazy. They've been brainwashed by boomers, into thinking this is normal.

[@realpropertymangement7640]

I'm sure your grandfather regretted his words. I'm a grandfather of 8, the majority of my g-kids are in thier early 20's or late teens. I've had many conversations about the state of our nation's and global economics, diplomacy and environment. They're smart kids and realize, to varying degrees, how current actions and events are going to impact thier generation in the years to come. I greatly fear for thier future, and I wish those who can influence change would too. I agree with you, to not effect change now is tantamount to treason.

[@commoncents178]

I'm sure he's concerned about the future but is stuck in his ways. Thats why I dont take it personally, but want others to be aware of the trends in attitude among our citizens. We have such great potential. I remember walking downtown in Iowa and came across this old bank carved out of marble. It was polished, intricate, well crafted. If their was ever a time in our history that we need to rediscover our dignity, now is that time. I know we can break free from this cycle of war and debt, it wont be easy but when and if we do, what we can accomplish as a nation and as a people will be groundbreaking.

[@DeaDEye.21]

Exactly 💯 and that age group has lead us into this situation and govt also leading the Charge

[@lr5397]

Wow! The last half took the game! Fantastic analysis...forthright and honest...thank you! Especially the section on the wall... interesting perspective and correct!

[@LL-tv9xc]

Another informative podcast. Thanks Peter.

[@rogerburn5132]

PETER KEEP THE LIVE PODCAST IT'S BRILLIANT THANKS 👍👍👍👍👍

[@DeathBySlushPuppy]

Wow, just finished listening to JP before this podcast and he announces a new episode with him. F*** Yeah!

[@troyb.4101]

Politicians in their make believe world, just raise the limit, with no intentions of ever paying a dime back.

[@elizabethv7411]

Thank you Peter great show. Depressing. Thinking about escaping CA.

[@clifordlempa5192]

like there's going to be anywhere to go to once this, dare i say hoped for, economic collapse happens...

[@commonsensenow9517]

Thank you for your logical message. We elders OWE it to the yoots, we allowed the situation to occur!!! I have been screaming for over 30 years about the KABOOM, no one listened to me..

[@sallythurston5780]

Mr. Schiff's point about countries "making it illegal to leave" isn't far-fetched. Although the Canadian Charter of Rights and Freedoms gives Canadians "the right to enter and the right to leave Canada", tens of thousands of Canadians were either quarantined, fined or jailed when trying to get back into Canada without having correctly filed a government mandated "ArriveCan" app. Scary.

[@rainbowlife1883]

Thanks to Peter for very informative talk！ from Tokyo (^^)

[@juanbonito9150]

Soldier on Peter.

[@tokra5538]

OMG your opinion about the border wall is exactly what I was saying all along! I am from a former communist country and people were not allowed to leave it. Many people were finding very creative ways to get out and they did

[@TheCrypttonight]

I wonder which one Peter is? Is he going to leave as well?

[@bogdanpopescu1401]

@@TheCrypttonight he kind of left

[@oferfriedman5821]

Thanks you for your wisdem and vision 🏆🏆🏆

[@krechenklein4453]

Peter is absolutely correct. Congress needs to do something NOW to stop the spending. This is getting so ridiculous. No more of this “over 10 years” nonsense.

[@0e32]

Thank you Peter!! Greetings from Sweden!!

[@bellamybakosti1606]

Bravo Peter. Keep up the good work. People are listening.

[@stephenhomseydgi3693]

So, Shifty Schiff. Were you just fine raising the Debt Ceiling 3 times under Orange man? Were you fine with the Combined 10 Trillion in Debt Deficit RUN UP (Historic)? were yo u fine it was spent on nothing and no way to pay it back?

[@richardclausen154]

I have said for years there is no debt ceiling in this country. Only a debt elevator!

[@healthyone100]

Peter Schiff and Gerald Celente give it to you straight!

[@trendzone3865]

My friend. Mexico is America.

[@singaporeghostclub]

Its called the American Dream because you have to be asleep to be in it. 😂

[@juliofuentes7795]

Hola y gracias por todo los datos que nos estas educando 🎉

[@albrechtegan9639]

Certainly! I understand that living expenses and taxes can take up a significant portion of one's income in the UK, which can limit how far that income can go. Even 100k doesn't get you very far. So, what do you believe defines a person as being 'rich'? Is it simply being able to live comfortably above the standard and being financially secure, or does it also include having the ability to pursue expensive hobbies and travel frequently?

[@CynthiaByrd648]

I believe being 'rich' means having all debts paid and having enough passive income to live comfortably, along with the ability to own fast cars, go on expensive holidays, and not have to work if you don't want to. Also, having assets is more important than salaried income because job security is never guaranteed. My mother lives in London and a Premier League footballer has purchased three rental properties on her street alone.

[@CristianHulbert]

@Garrett Dills I curiously looked up her name on the internet and I found her site, thanks for sharing.

[@michaelsy7030]

Yes Peter, every words said is true, the debt is like a ticking time bomb and someday it will blow, that will be too late, that will be the end of an empire.

[@HeresMyView]

Peter Schiff is very pragmatic. His concepts of business and economics changed in accordance to changing business landscape and the Fed Reserve's policies. He is very spot on - rising stock mkt trend is an indication of the economy in decline, IPO is used to con investors, QE is a casino used by the Fed, raising the debt ceiling is NOT to prevent default, CPI is fabricated and do not include the relevant prices increase, etc. 👍👍 These concepts defy traditional economics theory.

[@papasmurf7144]

Peter could be the next Rush Limbaugh. I wish he would start interviewing candidates.

[@OnionKnight541]

i'm 15 mins in, and just have to say, spot on. so accurate about IPOs.

[@prosportsdebates]

Thank god for Peter

[@tishela1134]

Hey Peter! Do they tie yours hands down when you are on other shows?

[@MichaelSkelton]

Term limits would solve the congressional self-preservation behavior at the expense of their constituents. Funny how we never see the notion of term limits raised in the 3 branches of government. 🤔

[@PassportBrosBusinessClass]

This country will DROWN in debt.

[@Sb129]

Bless you for keeping live chat replay

[@rogerburn5132]

Peter as usual Brilliant information and financial education BIG THANKS PETER YOU ARE THE BEST. 👍👍👍👍👍👍👍

[@joostdekoning4938]

Thank you Peter! You mentioned that your generation is going to be the bag holder, but it seems to me that the younger generations that will have to clean up the mess are the real bag holders.

[@AlexSanchez-qo1iu]

Glad to hear you’re doing an interview with Jordan Peterson. Saw his interview with Roy Sebag recently and was thinking he should sit down with you. Love to see it. Thanks for all that you do - much appreciated.

[@RobWilliams007]

Treaty of Versailles, from WWI, did indeed create WWII.

[@jim2vogt]

You are spot on.

[@therealhawkeyeii7888]

Very educational show, today.

[@ronprychon2916]

YEAH Peter!!!!!!!!!

[@brooklynfinest7906]

Thank you Peter. U Rock 👍🏽

[@DeaDEye.21]

Once Again Mr.Schiff..."On Point!!!"

[@xmdbd552]

Thanks a lot. I’m even more pissed off about this pos government!

[@Fbstudios101]

True American, thank you sir

[@darinthesecularspiritualist]

buckle up kids its about to get bumpy

[@wimvanaerde6249]

Been hearing this forever now

[@jmcmob608]

Thank you very much...

[@PonziZombieKiller]

We are doomed.

[@nevadawest411]

Thank you .. great show ..

[@timgibson3754]

I've heard this before but it's vital for our generation. Pete is a professor

[@brucehoffman4010]

Thanks Peter 😊

[@avx4281]

I wish i had a financial adviser like u.

[@RobWilliams007]

The most permanent thing is a temporary government program. In CA, we’re still paying for the 1% sales tax increase from the SF earthquake, that was supposed to be for 2 years! 😂

[@captainz9]

What's that, 40+ years now? (My siblings lived there back then, SF/OAK)... Kinda like Nixon "temporarily" suspending the gold window. 🙄

[@augustogonzales001]

Thank you

[@wadut7261]

Jordan Peterson and Peter Schiff is a dream come true, I cannot wait for that interview.

[@cashoutkevin]

love this guy

[@s.c.9878]

How on earth can the stock market go up while the Federal Reserve is raising rates? It should be impossible.

[@briangenereux2202]

Thanks Peter, you're still the best in your field! (At least the most logical sounding).

[@blacckz]

Wonderful podcast Peter 👏🏿 love from London

[@randyosborne3971]

Just like Affirmative Action. They never ended it. It was suppose to be temporary.

[@rogerburn5132]

All Fiat currencies and debt based monetary. Systems in the past have always collapsed. Purchase power gone down to 00.

[@bobbiecrider6964]

Its early Monday 0600 I'm always the late guy who has to catch up. Cool shirt Peter

[@stiffdrinkfinance1981]

13:25, Peter snooze time💤 💤 💤

[@facepalm5134]

Peter and Jordan is going to be insane. Can't wait

[@jimtroupes1797]

Great Insights !

[@victoriabarnett4279]

Really good info here. Thanks

[@davidwhitworth5724]

Classic Peter Schiff 👍👍👍

[@tom6039]

Great show tonight!

[@bugbunny1306]

I appreciate Peter Shiff for his illumination about the history and effects of, affirmative action, reparations, slavery, the the founding documents, the history about the colonies, the history about Thanksgiving, the history about Presidents day. That information should be for sale on a CD disk!

[@dragasan]

I swear, Peter always surprises me. He's never a coward. You know with all the fake news BS, how sometimes when we can get a bit cynical at times? Well, when Peter mentioned his opposition to building the southern border wall, I was yelling and screaming for my republicans to NOT support the wall for the exact same reason. We had Reagan with "Let's Make America Great Again" and "Mr. Gorbachev, Tear Down That Wall," to Trump, "MAGA" and let's build a wall from Western California to East Texas. Walls bad in the 80s to walls good in the 2000s. Pathetic! Peter Schiff honestly cares. Thanks man!

[@austrolib1181]

Teach em' Peter!

[@jimfarmer9212]

Good thing you live Puerto Rico.

[@maxthemagition]

The USA DEBT Ceiling will in all probability be raised, heading towards $35TRILLION. This is bad, but it is especially bad if interest rates rise to 5%...What used to be the norm. Imagine at 5% p.a....This would equate to $2Trillion every year! So the debt ceiling would have to be raised by at least $2TRILLION every year just to maintain the status quo.....It is obvious to anyone that the USA cannot reduce it's Debt. Then there is the PRIVATE DEBT, which is ten times worse. No much wonder that banks and companies are going bust. This is not like the Great Depression which happened almost overnight, This is much much worse and is like trying to hold back the tide....Sooner or later the tide overwhelmes everybody....

[@baahbyjoe4850]

Not raising the ceiling is going to happen. I love the talk of what should happen. But let’s be honest with ourselves, they are taking the ship down. And Peter I don’t think wants to acknowledge it. His worst accusation of this people is that they are just idiots, when in reality it’s pure evil.

[@realpropertymangement7640]

What's the adage... "don't always attribute to stupidity that which might actually be malfeasance" ?

[@RobWilliams007]

I am not even close to being a liberal and hate the US debt but here is an article on the possibility of defaulting in debt: Writing at the New Republic, labor lawyer Thomas Geoghegan argued that the public debt clause confirms the original intent of the founders, who gave Congress the power to tax and borrow to pay debts and provide for the common defense and public welfare. Alexander Hamilton wrote in Federalist No. 30 that the power to tax and borrow was established only to ensure payment of debt or to prevent a default, according to Geoghegan. If Hamilton was right, Geoghegan said, it is wrong to argue that the power to borrow money includes the lesser power of not paying the debt. “Nothing could be more unconstitutional under the original 1787 Constitution than for Congress to use its powers to willfully default on the debt,” Geoghegan wrote. “Right now, in the name of original intent, the Biden administration should be in a friendly federal court seeking a declaratory judgment that the Debt Limit Statute cannot limit the obligation of the United States to continue borrowing to prevent a gratuitous default on its debt.”

[@maurasmith-mitsky762]

Great vid, Peter.

[@kamilsonsalla2491]

There should be more people like Peter in congress, the world would be much better

[@thatguybill34]

*First Republic Bank to slash up to a quarter of its workforce. The layoff announcement comes as First Republic reported that its total deposits fell 41% in the first quarter.*

[@tahirhaq9627]

The debt ceiling by definition HAS to be raised. The interest created by bonds doesn’t exist so it needs new money. The current system is a Ponzi

[@talibanairport1544]

That's the problem.

[@derekfoulk4692]

He's talking about the silent generation that succeeded in passing the bag in regards to government spending. In case anyone wanted to know.

[@MichaelSkelton]

Many from the WW2 generation are dead and buried, but hmm, not seeing any signs from current generations to practice what they preach and stop borrowing from tax money for stuff we can't afford. In case you wanted to know.

[@danwinters3397]

I think buzzfeed relied entirely on advertising