Out of all the videos of Peter Schiff, this set as of now seems to be the most informative for me. The videos show how Peter Schiff figured out the idea of the financial crisis in the U.S. several years ago. He also explains what he thinks the U.S. government will do and what they should do.
Right now as I’m writing this, I’m listening half way through the video, goodness, this guy is so specific. He should run for office.
I have talked with a number of people in the banking economy and have gotten different opinions on a variety of issues.
1. Should a recesssion actually be embraced as opposed to be fixed so that the economy will not shrink. Peter Schiff explains that one should have a recession in order to have bubbles dissappear and have a real economy, as opposed to a fake economy.
2. Should bailouts actually be given? Peter Schiff is against bailouts, he wants the businesses to fail, even at the expense of thousands of people losing jobs.
3. Exactly what are bailouts? Taxpayers will definitely pay for bailouts through their taxes, but when a company is bailed out, will the same management run the company after the bailout? When a company is not a bailout and it fails, exactly what will happen to the company, will it be up for purchase or what?
4. The United States is supposedely capitalistic. Are bailouts against capitalism?
5. Peter Schiff has predicted the housing bubble and its crash. Peter Schiff has also predicted a rise of gold and a crash of the dollar which currently isn’t happening. He claims that the dollar is currently going up due to deleveraging. In short, americans and american businesses are selling their assets abroad and of course getting foreign currencies for it. After this they will replace their foreign currencies with dollars. This purchase of dollars is raising the price of dollars. Once the foreign assets have been sold, and the foreign currencies exchanged to american dollars, the dollar will start to crash.
