As a dedicated fan of your podcast, I was directed to this video. Peter, the world keeps lobbing you curve balls and you just keep knocking them out of the park. Excellent work!! Please make more videos like this.

This needs a million views!

@covidhoax7646

2 жыл бұрын

This needs 335 million views.

12mins 45s of excellence. Really enjoyed this one Peter.

So many people slam gold, complain about lower price, lagging yields on funds, etc... but that's because the music hasn't stopped yet.

@rafaelkluender9232

2 жыл бұрын

and it never will. Don't wait for the crash, you're missing the party.

Thank you Peter for this very important history lesson!

50 year anniversary is called a gold anniversary. This seems ironic

“I am not a crook” -Nixon

You should keep making small informative clips like this with visuals. If you get someone to make some cool animations while you tell a small story, it can help them go viral!

Peter Schiff's the king of titles👏

@tommykoed7493

2 жыл бұрын

@Brian J Hahahaha metoo 🤣🤣🤣

@rafaelkluender9232

2 жыл бұрын

The king of false economic predictions.

@stlouisix3

2 жыл бұрын

@@tommykoed7493 😂

Thank you for taking the time to make this video 🤯 It's crazy how the gov. Gets away with so much

We need to fund a 2 minute super bowl commercial explaining this.

@executeorder1138

2 жыл бұрын

I'd help fund that.

thank you for the free education mr Schiff

I noticed that the newspaper said that FDR's removal of the gold standard was temporary, too.

Peter, we love you, best to you and your family, be safe! Thanks for all you historical economic podcasts, very important and enlightening!

I really like the format of this video, similar to a documentary.

In Canada, any recognition of debt was conveniently 'omitted' on the new Canadian 'currency', issued circa 1969. Of course, nobody even noticed it. But the real kicker is the reason given to the people for issuing new notes in the first place: to combat COUNTERFEITING - I kid you not! You just can't make this stuff up!

@jasonpost7538

2 жыл бұрын

What's even more scarier is that the Bank of Canada has zero gold reserves

@superapex2128

2 жыл бұрын

@@jasonpost7538 Well, once you've destroyed the receipt for a deposit, I guess you can do whatever you like with what was initially deposited...

@chaddy-me-boy8299

2 жыл бұрын

@@jasonpost7538. I’ve actually thought maybe the Canadian dollar would be one to diversify into bc of the resources of mining in Canada, but now your saying Bank of Canada has zero? Why?

@jasonpost7538

2 жыл бұрын

@@chaddy-me-boy8299 Canada's sold all their gold reserves when the US detach from the gold standard ever since then the bank of Canada's accumulated zero gold reserves perfect example is Justin Trudeau says "he doesn't believe in the monetary system" so basically he's intentionally destroying the purchasing power

@chaddy-me-boy8299

2 жыл бұрын

@@jasonpost7538 . Reading your response it seems strange he would do that given the resources in Canada? The other thought that came to my mind is that it sounds like crypto. Would Canada ever back the money with crypto reserves instead since they don’t currently with gold? 🙃

Excellent work sir thank you Peter

Peter Schiff for US 🇺🇸 President 2024!

Peter Schiff For President!

The Fed just released last week’s balance sheet increase. $85 Billion! That’s a pace of $350B per month!

Great vid! You should do more 10 minute vids like this!

Congratulations on such timely video with such a comprehensive explanation

Well presented. Thank you Peter!

Nicely done, thanks.

On the point. Very well presented! Don't waste time watching tons of other lengthy videso about the topic; this is the only video you need to watch about the topic.

Good history lesson Peter!

I just love you, Peter. You're a MENSCH just like your dear dad. Viva MISES!

Thanks for putting out great content always.

Good stuff here, Peter. You should consider making more of such videos covering more topics.

Simply the Best. Schiff for Prez!

Love your podcasts and analogies. I'm holding off watching this video waiting for the perfect time, just as you leave the juiciest piece of rib fillet till the last mouthful.

Just listened to your podcast telling me to watch this video. Glad I did.

Awesome podcast Peter! Thanks

Thanks for the content

Peter Thanks for your hard work you are Always appreciated Brilliant information

Nice presentation Peter!

4:34 Nice picture of Matterhorn Peter. Hope you enjoyed Swiss holidays! Greetings from Switzerland

Here after your podcast , great video!

@peterschiff

Жыл бұрын

Thanks, I really wish more people would watch it. We put a lot of effort into creating it.

@MrCam3448

Жыл бұрын

@@peterschiff I always find your podcast very informative because I think you have it right , people have no clue what’s going on I won’t say much here . I think you are spot on and it’s not like you are hoping for a downturn you just can see it coming before anyone else

This is very entertaining and educational. Masterpiece

Nice pics of the old days in the pits! Best steve

Great video. Keep it up

Great video mr schiff

All you doubters will be featured in the Peter Schiff was right videos.

@rafaelkluender9232

2 жыл бұрын

Cause he's right once a decade.

Keep up the good work.

Everyone needs to see this video

Excellent.

Peter is doing God's work truly

Very Interesting...

Pretty true, Peter

I laughed out loud when you showed the low time preference Black Friday shoppers.

@scott49140

2 ай бұрын

technically Rothbard calls it high time preference, as they are prioritizing instant gratification rather than saving for the future which would represent a low time preference behavior pattern

Imagine being the person watching Bonanza, and getting interrupted. One loved one says: Stupid politics: I want my Bonanza! Another says: OH SNAP! We're going off the gold standard. Next day: Ok why isn't everybody freaking out about this?!

Videos like this will connect you to new viewers!

Final Cut Default font. Creators know

I pay to save not pay to play .. the great FDR confiscation happened to my grandparents...1934 the year my grandfather died along with the dollar...

this game goes back much further. the gold and silver boom of late 1800's due to opening the western territories was also like printing press adding to the money supply, causing price inflation. so gold was not a perfect money (at least at that time).

@wesleymalutama3651

2 жыл бұрын

How much was the inflation at that time ?

@soapbxprod

2 жыл бұрын

That depended on where you were. In SF, it was cheaper to ship laundry to Hawaii to have it done rather than in SF. It was nothing like "printing press" fiat currency.

We need 20 % interest, sure it's gonna hurt short term. Spending is out of control, if you can sign your name, you can borrow for anything you really don't need.

@cgasucks

2 жыл бұрын

I agree...but it will be devestating to everyone.

@jimlovesgina

2 жыл бұрын

I would love a nice return on my savings.

@lizardking8388

2 жыл бұрын

At this point 5% would be devastating!

@chaddy-me-boy8299

2 жыл бұрын

It doesn’t seem like a limited resource, does it? At least we can see how misinformed young democrats could be tricked into thinking, why not pay off ??? my student loan, it seems like we can pay anything else off without any consequences.

Lol, you don't want your fiat, we'll take it off your hands! Lol.

Interrupting _Bonanza....._ Oh the irony.

Arizona is not the Moon.

Imagine where we would have been if that didn't happen.

Option 2 was the best, rise de value of gold. It wil rise any way.

Nice

This should be shown in class rooms across the country!

Thank you

Peter, I'm affraid we will be watching this video in 10 years and saying "Peter was right".

thank you for the booster shot of perspective once again Mr Schiff.

Like Pusher #1 💥💪 LesGO Dollar Denominated Asset Class! Silver and Gold! Keep Pushin!

Damn Peter... I'm listening to this and thinking "this is a great video to share with friends/family..." BUT, in listening to the end, I decided not to share your great video because of your "pitch". Went from educational to infomercial. Hey, I get it, sell your Gold! I'd probably do the same thing at the end of my video if I were you! So, while I did enjoy the "lesson", I unfortunately will not be sharing.

@chaddy-me-boy8299

2 жыл бұрын

Seven, I’ll answer for Peter, your logic is “flawed” Im being nice. You actually don’t understand the script, as I have explained in another post above, it’s takes time, if you understand the problem, why wouldn’t you want to buy gold and have loved ones do the same? Schiff gold isn’t going to con you like those gold/silver shops will if you are a rookie.

@seven7thirteen

2 жыл бұрын

@@chaddy-me-boy8299 Thanks for your "logical" response, but Peter definitely doesn't need you to shill for him! I'm not sure what you think I don't understand about the "script". He made a great video, explaining history, then pumped his gold company at the end. I personally prefer to develop a relationship with my local mom & pop coin shop and go through them when purchasing bullion. Like I said, if he wants to sell his products on his YT channel, by all means, do it! But I stopped sharing his videos when he started having his nonsense "sponsors" and I will not be sharing this video either! Absolutely nothing "flawed" with that "logic"!!

@soapbxprod

2 жыл бұрын

@@seven7thirteen Why are you so bitter about a free market offer? Peter makes profits for his clients. Do you?

@seven7thirteen

2 жыл бұрын

@@soapbxprod Damn guys... get off Peters nuts!! "... great video...enjoyed it...if he wants to sell his products, go for it..." What in the world is "bitter" about giving a guy praise and clearly stating that I don't agree with his method of (unnecessarily) pumping his gold company?! EP In. Value Fund +4.5% EP In. Dividend Income Fund +4.7% EP In. Bond Fund -4% EP Gold Fund -22% EP EM Small Companies Fund +9% Pete's Europac Funds combined YTD Performance is....MINUS EIGHT PERCENT! Like I said... get off the guys nuts!

It was actually a $3B request from the British that closed the gold window, not the French.

Sometimes, it is better not to fix something.

Nixon did put in price controls but extremely mild compared to the N R A of Saint Roosevelt who was a spectacular failure until he climbed onto war production in 1938. In 1937 people started wishing Hoover was back. If I recall correctly, wasn't there a tailor who was arrested for charging 35 cents to press a suit because the law said you couldn't charge less than 40 cents, eventually even the judge that sentenced him apologized. FDR recovery plan. Destroy the currency Institute massive regulation and raise taxes.

@soapbxprod

2 жыл бұрын

Don't forget the Schacters.

@jonswanson7766

2 жыл бұрын

@@soapbxprod do you mean "Sacred Secrets" where they quoted the article about the Albatross around Nixon's neck for his spectacular work helping to get that traitor Alger Hiss locked up for perjury!. My friend, that book has an honored place on my book shelf! By the way Nixon had set up Harry Dexter White for perjury August 13, 1948, but the SOB went ahead and died three days later. Can you imagine if the creator of Bretton Woods, the World Bank and the IMF was put on trial for committing perjury about being an agent for the Communist Conspiracy?! Whitaker Chambers had the proof!

@jonswanson7766

2 жыл бұрын

@@soapbxprod Oh yeah! Operation Snow!

@jonswanson7766

2 жыл бұрын

@@soapbxprod Ah! You mean the the Schechters whose case went to the Supreme Court and resulted the decision finding the NRA unconstitutional.

Peter for POTUS 🇺🇸👍🇺🇸

Peter can you explain how inflation slowed after the end of 70's?

@kerim.peardon5551

2 жыл бұрын

It's because the Fed raised interest rates until they were higher than inflation. When interest rates are lower than the rate of inflation, people will spend money as soon as they get it because commodities are the only store of value. If a $1 can of soup today costs $1.31 a year from now (roughly our current rate of inflation in food), then by buying a year's worth at $1 today, you "profit" 31% the following year because you don't have to buy at the higher price (and that savings is not taxable as well). But, if you were to put your $1 in a CD that's paying 1% instead (if you can even find a CD paying that rate today), you'll have a $1.01 (less taxes!) at the end of the year to put towards that can of soup that's $1.31. Of course, everyone scrambling to buy things increases money velocity, which is one of the two factors that governs the rate of inflation. So, simply speaking, the more people buy, the higher prices will go, so it can very quickly spiral out of control. That's why the Fed has previously been so terrified of letting inflation go near (much less over) 2%. (We'll ignore, for the moment, that they rig how they determine inflation so that it's never actually been under 5% since 1980.) But, when the interest rate is very high, people who have money to spare will invest it in things like CDs and bonds instead of buying stuff because those things will give them a better rate of return. And people will also stop taking out debt and make do with the car and house and furniture they have because they can't afford payments on something new. That combination slows the velocity of money and allows inflation to fall. My mother bought a used car in 1985. She said her interest rate on it was 12%. She said the interest rate on the mortgage my stepfather took out the same year was about that, too (we were actually a 3 adult household because my stepfather's mother lived with us and her Social Security check went towards the mortgage, so basically it took 3 adults' income to afford a 1970's split-level and a middle class lifestyle in the mid-80's). Even in 1990, when they both bought new cars, I think she said the interest rates on both were still around about 8%. Now compare: I bought my house 5 years ago and have a 3.25% rate. I recently went to buy a truck that was 2 years old and had 6000 miles on it; I was offered 2.75% interest on it. It should be pretty obvious why everyone is out there buying houses and cars now. (The fact that someone would trade in a pristine truck with only 6000 miles on it (and it was not the only one out there like that) is itself a symptom of cheap interest rates; if your car payment was high, you would not rollover to a higher payment just to have a new car.) Of course so many people buying cars and houses drives up prices because people get into literal bidding wars over both. But if the Fed was to institute 20% interest rates again, suddenly almost no one would buy a house or a car and the prices would crash. (Most people would be so upside down on their house they'd never be able to leave it.) But as Peter says, they can't afford to do that. They have blown the current everything bubble so big, the crash that comes from raising rates and slowing the money velocity would be like stopping your car by running into a brick wall at 100 mph.

Can you tell me from where 9.48 is taken

@prasadmonty9884

2 жыл бұрын

@Leong Anders Thanks

Schiffers!

I already have...

If I was an American I'd be shit scared of the direction my country was headed.

people in 2021 are living in lala land

Ronald raegan wasn’t that your friend David Stockman???

Peter Schiff I wish you were in the senate maybe one day you will run again .

@supersam1914

2 жыл бұрын

@@livannal.t.9068 2010

2:38 Bankers partying...

This video is gold Peter. Buy #bitcoin. Sorry, could not help it.

isn't easier to say "who could have ever seen this coming?" it's what every news channel will say.

Peter where you the one who sold Palantir $50 million dollars in gold bars?

Buy Palantir and support corporations buying gold!

I like the way Americans say "dollar", especially in the Buffalo area lol

The dollar is rallying again, unbelievable...

@rafaelkluender9232

2 жыл бұрын

Why, because youŕe betting against? Stop listening to Schiff then.

@judgedredd8876

2 жыл бұрын

@@rafaelkluender9232 What happened was after hitting $74 few months ago I never imagined that NEM would drop to $56 per share again, so I got me some. And I will be getting 3.5% dividend while I wait. Unbelievable.

we're gonna be rich everybody! i mean, among road warriors.

Peter’s videos are like a foreign language to most. It’s not just listen to one video and your a black belt economist, it takes many years. Watch some posts of the uneducated say “if it takes another 50 yrs who cares.”

3:45 lol as if

How can the director’s cut be longer than the original???? 🤷🏻🤔

@xSyniK

2 жыл бұрын

idk if this is a joke, but every single director's cut is longer. lmfao

@senorpoodles1755

2 жыл бұрын

That's how director's cuts work…

@TheShays

2 жыл бұрын

It usually is.

Man the worst investment i ever made was in your gold fund down over 10k now

@irszgatti

2 жыл бұрын

That is to be expected. Guess what? Gold is under attack, but...hold on tight because they only attack what is valuable

@peterschiff

2 жыл бұрын

If that's your worst investment you've done pretty well, and have likely been very lucky too. But my guess is that if you hold on it will turn out to be one of your best.

@chadwolfeschledgelsteinhau9697

2 жыл бұрын

@@peterschiff im holding

Can we just put an end to institutionalized parasitism please?

Are you sure he didn't interrupt Mash?

@DevilSinCA

2 жыл бұрын

@P͏i͏n͏n͏e͏d͏ b͏y͏ P͏e͏t͏e͏r͏ S͏c͏h͏i͏f͏f͏ you're right it was Bonanza I Googled it.

Even though this is all true, I think the message would be more powerful and effective without the gold advertisement at the end. Let people get to their own conclusions without coming off like you just want to sell them gold

@DudleyHunt

2 жыл бұрын

Why does he want to accept my dollars in exchange for gold after acknowledging that paper dollars are worthless?

@rafaelkluender9232

2 жыл бұрын

@@DudleyHunt Because that's not what he believes.

@tonihil

2 жыл бұрын

@@DudleyHunt Because you will pay premium, and your dollars won't dwell too long in his account.

@chaddy-me-boy8299

2 жыл бұрын

These posts are not understanding the message, which is why I’ve posted that it takes time to understand Peters thinking, even though it’s so logical to those who understand the language. Instead of the local gold/silver shops conning you, schiff gold will sell you just gold and silver at a good cost……..

@eustacebagge3869

2 жыл бұрын

@@DudleyHunt he takes ur money by selling expensive gold, then proceeds to buy cheap gold in bulk straight from a warlord operating the african mines.

Pretty soon Peter will have redone this video more times than the US has defaulted on their currency.

haha crazy... i made a video with the exact same title

I wish CNBC would interview those responsible for buying treasuries at those auctions, instead of just opinions from limited minded hosts and guests as to why someone would buy a 10 year. Somebody is buying? In addition to all hosts and guests shld disclose if they own Crytpo or not.

@doubleuponbob3397

2 жыл бұрын

Are you Clay's brother?

Peter schiff why do you omit the fact in 1944 the US completely got off gold.

Wasnt the day gold die ? Moon Eh !