American Dream vs. FED Induced American Nightmare


Peter Schiff on RT 2/14/2017










Transcript : what analysts say about the efficiency 0:02 of the Fed Senate hearings and what the 0:05 Fed is doing for Americans in the 0:08 immediate and distant future 0:09 well let's bring in peter schiff CEO of 0:11 euro pacific capital thanks for joining 0:13 me on this with a neat you know you say 0:15 Yellen said nothing of real value to the 0:17 American people you're not impressed 0:19 she's missing the point of what 0:20 Americans you really want to hear and 0:22 what is that in your opinion what 0:24 Americans aren't really even paying 0:26 attention to what she's saying it's more 0:28 the financial markets that are sitting 0:30 on pins and needles parsing over every 0:33 word that she says but you know she 0:35 talked about the fact that it would be a 0:37 problem if the Fed waited too long to 0:40 raise rates to remove the accommodation 0:42 bulldog 0:43 I mean she's already waited too long I 0:45 mean it's the time to nip that in the 0:46 bud has launched his past in fact the 0:49 minute the Fed lowered interest rates 20 0:52 that was the mistake right the minute 0:53 they checked us in to this monetary 0:55 roach motel there was no way to check us 0:58 out 0:59 that is why the fed has already acted so 1:01 slowly in their in their increasing rate 1:04 because i think they know that another 1:06 crisis is coming there you know just 1:08 hoping that they don't get blamed for it 1:10 what do you think then that the Fed is 1:11 essentially postponing the pain of its 1:13 fire mistake in Congress for that matter 1:16 what that's going to hurt 1:17 well that's all it that's all it does is 1:19 it makes mistakes and then it takes 1:21 action to try to mitigate the short-term 1:24 pain but only at the expense of making 1:27 the mistakes even larger so that the 1:29 future pain is even worse I mean that's 1:31 what happened when the Fed slashed 1:33 interest rates and 0102 to mitigate the 1:36 mistakes that inflated the stock market 1:39 bubble the tech bubble and then those 1:41 larger mistakes inflated a bigger bubble 1:43 in the housing market and then when that 1:45 bubble burst in 2008 they made even 1:48 larger mistakes and that bubble which 1:51 was inflated by Bernanke and Yellen has 1:54 yet to pop but when it does the fallout 1:57 is going to be much bigger than a 2008 1:59 financial crisis and so that is the 2:02 reason that yelling is dragging her feet 2:04 on these rate hikes because the higher 2:07 rates go the sooner that crisis is going 2:10 to arrive 2:11 well then 2:11 this right how long can we go without 2:13 the economy heading straight back into a 2:15 recession and what your prescription for 2:17 keeping us out of it or if it's you know 2:19 if we've had terminal velocity of 2:21 pulling a sabot it sounds to me like 2:22 you're saying it's gonna feel like a big 2:24 piece of duct tape ripped off your arm 2:27 well I don't think we ever really came 2:30 out of recession I mean everybody says 2:32 that this is the weakest recovery in 2:34 history in fact the recovery is so weak 2:37 that for the average American the 2:40 recovery was actually worse than the 2:42 recession that we supposedly recovered 2:44 from and I think the reason the recovery 2:47 is so weak is because it isn't a 2:49 recovery it's actually a recession 2:51 camouflage doesn't occur as recovery 2:54 behind phony GDP numbers you know 2:57 because the government is under 2:59 estimating inflation we have a deflator 3:02 that is too low and so we've been able 3:04 to manufacture out of thin air economic 3:07 growth winner is not see that's why 3:09 Donald Trump is the president of the 3:11 united states if we had real economic 3:13 growth 3:14 he wouldn't have even been the 3:15 Republican nominee let alone the 3:17 president but it's because the economy 3:19 is so weak he was able to exploit that 3:21 weakness and the fact that the public 3:23 realizes that are being lied to their 3:25 being lied to by the government are 3:27 being lied to by the media by wall 3:29 street they're all trying to shove this 3:30 phony recovery down their throat and 3:33 they threw up all over it and elected 3:35 I'll drop well I graphically putting it 3:38 but you know a lot of people probably 3:39 totally agree with you let's talk about 3:41 what we heard Janet Yellen say earlier 3:42 about the labor markets labor market 3:45 unemployment is down jobless rates for 3:47 certain minorities though it's very high 3:49 in those areas 3:50 she seems to be parroting what a lot of 3:53 pundits were talking about when they 3:54 said you know the job market growth the 3:56 recovery people don't seem to be feeling 3:58 that do you think that these remarks 4:00 sort of lends itself to the argument 4:02 that you're making their well they may 4:05 be feeling it but not where Janet Yellen 4:07 that and everybody likes to like to 4:10 pretend I mean these are these are phony 4:12 numbers again 4:13 yes we have a low unemployment rate 4:16 because millions and millions of people 4:17 who are not working are not counted as 4:19 being unemployed and millions more who 4:22 are underemployed who are working part 4:23 time jobs but who can't find full-time 4:25 job they're not being counted so this 4:28 again is a government illusion created 4:30 by the statisticians and you know one of 4:33 the things that happened recently we got 4:35 the most recent jobs numbers and we had 4:37 for the first change we had about 4:39 700,000 people who had left the labor 4:42 force coming back in now they didn't get 4:44 hired there are now unemployed so the 4:46 unemployment rate has started not job 4:48 but if more and more people who have 4:50 been on the sidelines when it comes to 4:52 the job market if they now try to get 4:54 into the game because they need the 4:55 money maybe they can no longer afford 4:57 the luxury of not working we're going to 4:59 start to see a big increase in the 5:01 official unemployment rate and then 5:03 we'll see the Fed Janet Yellen change 5:05 her tune up pretty quickly 5:07 ok so we're talking about changing it 5:08 quickly right now it would you you think 5:12 Jack them up right now it's going to be 5:14 painful but we gotta do it right now 5:15 because on top of this there's a lot of 5:17 political grandstanding going on at 5:18 these hearings have nothing to do with 5:20 fiscal policy level and sort of covering 5:21 a political basis so if you could go 5:23 into that room and they look brass tacks 5:26 your fellow this is what we need to do 5:27 that p 5:28 yeah well personally write the whole 5:31 thing is a circus it's all kinds of 5:33 grandstanding but meanwhile Janet Yellen 5:35 is the ringleader of this circus and 5:37 it's all show you know politicians are 5:39 trying to score brownie points they 5:41 speak in soundbites their constituents 5:43 you know so none of this really means 5:44 anything but again wall street looks at 5:46 this as if you know Janet Yellen 5:49 actually knows something about the 5:50 economy and you know gold the price of 5:53 gold was up 10 box before her prepared 5:55 testimony was out as soon as the words 5:57 came out that you know it would be a 5:59 mistake to wait too long to raise rates 6:01 gold sold off it went negative it 6:03 matters to close up a few bucks but 6:05 they're reacting to this is that there's 6:06 actually anything new to be cleaned out 6:09 of these statements but you know if i 6:11 was there if I was the Fed Chairman you 6:14 know I would basically want to admit to 6:16 all the mistakes that have been done by 6:18 Chairman that preceded me as I look 6:20 we're no longer going to price fix 6:22 interest rates the Fed is not going to 6:24 try to micromanage interest rates like 6:27 the Politburo in the Soviet Union used 6:29 to try to fix the price of bread 6:31 we're gonna let the market set interest 6:32 rates were not going to interfere 6:34 we're not going to be doing quantitative 6:36 easing 6:37 and interest rates would go way up i 6:38 mean they have to go up America has lots 6:41 of debt we have no savings interest 6:43 rates need to go up in fact one of these 6:46 senators ask janet yellen why the 6:48 economy is growing so slowly 6:50 it's this monetary policy that one it is 6:52 one of the main reasons we don't have 6:54 real capital investment we don't have 6:56 increasing productivity because the Fed 6:58 is diverting all those resources to 7:00 propping up speculative bubbles in the 7:02 stock market a real estate market in the 7:04 bond market and to prevent the 7:06 government from making necessary cuts 7:08 the government spending that would 7:10 actually unleashed the free market 7:11 growth that would produce a rising 7:14 standard of living 7:15 so we need to let interest rates go up 7:16 but then we need to let the chips fall 7:18 where they may 7:19 because if we do that now after rates 7:21 having been solo for so long 7:23 we're gonna have a financial crisis 7:25 worse than 2008 and at this point we 7:27 just have to suck it up and Barrett and 7:29 if it means a lot of people lose money 7:31 and if it means banks fail and it means 7:33 people lose their jobs 7:34 that's what has to happen because we 7:36 have to clean house we have to allow the 7:38 economy to restructure so we can rebuild 7:41 it the right way and not rebuild it 7:43 based on government central planning but 7:45 let the free market rebuild it based on 7:48 millions of Americans pursuing their own 7:50 self-interest this is what made America 7:52 great in the first place it was limited 7:54 government it was freedom where people 7:56 could save and invest and produce that's 7:59 what we need again we need to go back to 8:00 the American dream but before we can get 8:02 there we have to get out of this bed 8:04 adduced american nightmare 8:06 thank you so much for your input on this 8:08 Peter chef CEO of euro pacific capital





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“Control oil and you control nations; control food and you control the people.” Henry Kissinger


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Henry Kissinger

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Governments keep a lot of secrets from their people . . .
Why aren't the people in return allowed to keep secrets
from the government?

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The Tax you pay is The Bill for Staying Stupid

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The few who understand the system will either be so interested in its profits or so dependent on its favours that there will be no opposition from that class, while on the other hand, the great body of the people mentally incapable of comprehending the tremendous advantage that capital derives from the system will bear its burdens without complaint and perhaps without even suspecting that the system is inimical to their interests.
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This truth is well known among our principal men now engaged in forming an imperialism of Capital to govern the world.

By dividing the voters through the political party system, we can get them to expend their energies in fighting over questions of no importance. Thus by discreet action we can secure for ourselves what has been so well planned and so successfully accomplished."

USA Banker's Magazine, August 25 1924


Cutting Tax Rates stimulates Economic Growth creates more Profit , more Jobs and therefore The Treasury ends up with more Tax Money
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Taxation is legalized Theft
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"The Objective of the Bank is not the control of a conflict , it's the control of the debt that a conflict produces . The real value of a conflict , the true value is in the debt that it creates . You control the debt , you control everything . this is THE VERY ESSENCE OF THE BANKING INDUSTRY , to make us all , whether we be nations or individuals , SLAVES TO DEBT " An UNKNOWN Banker

Patriotism is the last refuge... to which the scoundrel clings .... Steal a little and they throw you in jail ..steal a lot and they make you king ....

Bob Dylan


"Corporations are stealing billions in tax breaks, while the confused, screwed citizenry turn on each other. International corporations have no national allegiance, they care only for profit." Robert Reich


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The modern definition of racist is someone who is winning an argument with a liberal
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When People lose everything and have nothing left to lose , They Lose It !

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Your Greatest Teacher is Your Last Mistake
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The one who Controls the Education System , Controls Perception
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"The world will not be destroyed by those who do evil, but by those who watch them without doing anything."

Albert Einstein

In The Left Nothing is Right & in The Right nothing is Left
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No man escapes when freedom fails; The best men rot in filthy jails. And those that cried 'Appease! Appease!' Are hanged by those they tried to please
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Freedom is not Free
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Don't Steal The Government Hates The Competition

Ron Paul

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Jesse Ventura


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Serial Killer Richard Ramirez

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Schools manufacture people who think that they're smart but they're not.
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The losers in life think they have all the answers. They can’t learn because they’re too busy telling everyone what they know.
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Failure inspires winners but defeats losers
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“If you are planning for a year, sow rice; if you are planning for a decade, plant trees; if you are planning for a lifetime, educate people” A Chinese Proverb

"First they came for the Socialists, and I did not speak out--
Because I was not a Socialist.

Then they came for the Trade Unionists, and I did not speak out--
Because I was not a Trade Unionist.
Then they came for the Jews, and I did not speak out--
Because I was not a Jew.
Then they came for me--and there was no one left to speak for me." UNKNOWN


Let me tell you why you're here. You're here because you know something. What you know you can't explain, but you feel it. You've felt it your entire life, that there's something wrong with the world. You don't know what it is, but it's there, like a splinter in your mind, driving you mad. It is this feeling that has brought you to me. Do you know what I'm talking about?


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