Sunday, November 3, 2013

Peter Schiff vs. CNBC

By, Chris Rossini

Whenever Peter goes onto CNBC, you can almost feel the propagandist's anxiety levels rise. In just the first 2 min. of the following clip, Peter crushes the Fed and the phony "recovery" into a fine powder.

Bill Griffith does his best to jump in to stop the logic by unleashing (Ron Insana?). Peter takes care of Insana too:

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  1. It seems to me from the most recent videos I've seen, at least with the Bloomberg ones, there has been a complete shift in tone when interviewing Peter. Can't really tell if it's because they respect him more, or they are trying to prevent more "Peter Schiff Was Right Videos."

  2. He says the stock market is going to crash, and the dollar will collapse and you won't be able to buy anything. Can't he even keep his story straight? You would be able to buy all the corporations listed on the exchange if the stock market collapses.

    Schiff has been wrong about everything for 5 years and he's wrong about QE and the effect it's had on the economy. As Fama explained when he slapped down Rick Santelli, QE is a wash since the Fed's liabilities have increased with the asset purchases. Excess reserves have grown at the same rate as assets. QE has lowered long term interest rates while placing upward pressure on short term rates (.25% interest on reserves exceeds current short term rates). It's done little to help the economy and is not creating an asset bubble.

    Excess Reserves:
    2013-09-01 2213872
    2012-09-01 1409442 804.430 billion in liabilities

    Fed Assets:
    9/5/2012 2797852
    8/28/2013 3630632 832.780 billion in assets

    1. So Schiff was wrong about the Obama stimulus? That's a hilarious and ridiculous claim even for you.

  3. Insana goes out on a limb to defend his reputation by stating that there were mortgages during the housing bubble that "were a bit frothy"? That's the word I use to describe my hot cocoa in the winter when I add too many marshmellows.....frothy.