The Debt Bomb is going to explode under Trump

Peter Schiff -- No President Will Escape Fed's Debt Bomb

Bennett we don't like national debt at 0:02 19 trillion 965 billion so 20 trillion 0:07 around the corner we just 20,000 0:09 yesterday and the dow jones or whatever 0:11 day before the jones industrial average 0:13 so my question to you is simple 0:16 okay is there any way that any president 0:19 is going to avoid a debt bomb know that 0:24 the dead father's gonna explode but 0:26 we've been doing with the debt bonds and 0:28 diffuse it is the Federal Reserve is 0:30 kept interest rates practically a zero 0:32 so at least we can afford to service the 0:35 debt repaying it is completely 0:37 impossible but at least we conservative 0:40 when interest rates are at rock bottom 0:41 but that's already changing interest 0:43 rates are going up inflation is going up 0:46 and so creditors are going to demand a 0:48 higher premium to hold our paper and we 0:50 are headed off the edge of a clip and I 0:53 think that the Fed is going to try I to 0:56 inflate its way out of this problem but 0:57 it's going to inflate its way into a 0:59 bigger one 1:00 all right now let's take things one step 1:02 at a time okay 1:04 there was a time where infrastructure 1:05 under previous administrations was a 1:08 tough one 1:09 ok so the republicans are they going to 1:12 give the new president an issue is there 1:16 a difference between infrastructure 1:18 spending with this administration versus 1:20 others or is it all pretty much the same 1:22 in your mind 1:24 well it's the same and plus 1:26 infrastructure spending is not going to 1:28 help the economy you don't help the 1:29 economy by spending money to the extent 1:32 that we need to repair our 1:33 infrastructure that's already have a 1:35 variant listen I agree with you on a lot 1:37 of things Peter but i just put a roof on 1:39 my house okay and I don't look at that 1:42 is you know unnecessary infrastructure 1:44 spending it was leaking we have a lot of 1:47 quote-unquote right heroes out there but 1:49 even so really it's not stimulus it's 1:52 more like green pears now I'm not saying 1:54 that to get the money is going to be 1:56 easy but sometimes there is a difference 1:58 yeah but it would've been better if your 2:01 roof didn't leak and you didn't have to 2:02 repair it if you could use the money for 2:04 something else 2:05 so the fact that we have infrastructure 2:07 that is in need of repair is a negative 2:10 it is a burden it's this 2:11 sacrifice that we have to spend money 2:13 building up our infrastructure the fact 2:15 that it creates jobs that's not a good 2:17 thing because we're diverting resources 2:19 that we might otherwise have been able 2:21 to use more productively to make 2:23 necessary repairs for infrastructure but 2:25 the other problem is we're broke we 2:27 can't afford to repair our 2:29 infrastructure that is the problem and 2:31 if we're going to divert resources 2:32 towards the building our infrastructure 2:34 what are we not going to do right what 2:37 are Americans going to stop spending 2:38 money on so we can free off the 2:40 resources to make these repairs 2:42 well sometimes Peter don't you have to 2:45 step out of the box a little bit though 2:47 i'll give you an ocean we have trillions 2:49 of dollars overseas that this president 2:51 studies going to allow businesses to 2:53 repatriate you ever hear Build America 2:55 Bonds so why doesn't he say listen you 2:57 can repatriate it but in order to do 3:00 that you have to play this little game 3:02 of bond covenant you have to participate 3:05 in a building America Bonds scenario for 3:08 the covenants give you a bit less 3:09 interest rates and for that you'll be 3:12 allowed to bring this money back at a 3:14 very low or maybe negligible tax rate 3:18 your final common can't we get creative 3:20 is there no answer here 3:22 well I hate to make rope not 3:24 micromanaging and of course you know 3:26 they don't have to bring the money back 3:27 they can leave where it is and pay no 3:29 taxes on it and so if we try to be you 3:32 know too funny about all these 3:34 requirements they don't have to bring 3:35 the money back at all right because they 3:37 got a zero tax rate where they are right 3:38 now but the bottom line is you talked 3:41 about at the beginning all of this debt 3:43 everybody is ignoring this people are 3:45 talking about we're going to get all 3:46 this fiscal stimulus the reason we 3:48 haven't had it before is because we're 3:50 broke and we've been relying on this 3:52 phony monetary stimulus but if we 3:54 actually try to increase already 3:56 enormous annual budget deficit with tax 3:59 cuts in more spending that unfortunately 4:01 the Federal Reserve is gonna go back to 4:02 the well we're going to do more 4:03 quantitative easing and we're going to 4:05 end up destroying the value of our 4:07 current it right now here the dollars 4:09 that a fourteen fifteen you're hot but 4:11 it's a long way to hear Peter I'm gonna 4:13 have to stop here but i am going to 4:14 bring it back in here to see if all 4:16 these clouds are still there thank you 4:18 for taking the time and

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

once a standing army is established, in any country, the people lose their liberty.”
George Mason

“Military men are dumb, stupid animals to be used as pawns for foreign policy.”
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“If you are an ordinary person, then you can prepare yourself for war by moving to the countryside and building a farm, but you must take guns with you, as the hordes of starving will be roaming. Also, even though the elite will have their safe havens and specialist shelters, they must be just as careful during the war as the ordinary civilians, because their shelters can still be compromised.”
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The people who cast the votes decide nothing. The people who count the votes decide everything.
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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?


“Some call it Communism, I call it Judaism.”

Rabbi Stephen Weiss

“Anti-Communism is Anti-Semitism.”
Jewish Voice, July - August 1941

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"Debts must be collected, bonds and mortgages must be foreclosed as rapidly as possible. When, through a process of law, the common people lose their homes they will become more docile and more easily governed through the influence of the strong arm of government, applied by a central power of wealth under control of leading financiers.

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."

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Albert Einstein

In The Left Nothing is Right & in The Right nothing is Left

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There is a Class War going on in America, & unfortunately, my class is winning." Warren Buffet

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Thomas Jefferson

"College is a waste of Money"
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"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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