Bank failures are likely to continue increasing due to rising interest rates, as it causes their commercial paper and treasuries to become devalued. To prevent a severe economic downturn, it is necessary to implement a freeze on interest rates. Simultaneously, the White House should support the industry in boosting gas and oil production to lower fuel prices. The anti-oil stance only contributes to higher energy costs, leading to inflation throughout the economy. By reducing interest rates, tightening the money supply, cutting government expenditures, and increasing the availability of affordable fuel, inflation will decrease, and the economy will thrive. Unfortunately, various conflicting agendas make it unlikely for all these measures to be implemented, resulting in a recession and persistent inflation.

He’s definitely right about credit card debt saving the economy. If consumers couldn’t dip into credit cards, our economy would have crashed

Please have this guy back. Eye opening!

Do you notice the guys doing the interview are all stunned and speechless. It's like they're in class being taught by professor Peter Schiff.

Financial planning is like navigation. If you know where you are and where you want to go, navigation isn't such a great problem. It's when you don't know the two points that it's difficult

Finally a guest with great information and worth listening to

5:43 “Theres nothing more permanent than a temporary government program” = Milton Friedman

Peter Schiff is the best. 👍👍🇺🇸

Even the uninsured depositors at Silicon Valley bank got bailed out

It's even worse than you think. EV cars, housing to income, Medicare liability, SSN liability, 401K, shadow banking system, 2020 shut down, a hi jacked school system, and a Hi jacked electro college, and a manipulated voting poll system. Lets see who knows what I am talking about.

Great points 👍

Sounds like many people are new to Peter. The man is a legend, ahead of his time, at least years ago. He does get lots of haters from crypto community, which doesn't lessen his value honestly. His podcasts are very educational... I highly recommend listening to his periodically.

Agree with everything he said and I have studied economics all my life !!

I'm so happy you guys are taking about this. My step dad when he was going to college. he said that a summer job paid for college when he was building a new degree in psychology involving family drug therapy counseling stuff

Really, banks require more regulation. The entire idea of banking as "let's gamble" is terrifying. Because they discovered in 2008 that the government will always bail them out, there are no repercussions. These bank crisis are so worrisome. This whole financial crisis and the Great Recession posed the most significant macroeconomic challenges for the United States in a half-century, leaving behind high unemployment and below-target inflation and calling for highly accommodative monetary policies. And this is only the beginning!

I recall my teachers saying they washed dishes to get thru college. Lol not no more college too high. -Gen X

Amen brother

Raise the damn rates!

What a lot of people don't understand is that what our economic system is if all of our debt was repaid there would be no money left in circulation

Wisdom in this channel.👍👍

When you borrow with no intention on paying it back, I call that stealing.

His comments on college and credit cards are spot-on.

I remember following Ron Paul during 2008-2012 presidential elections and Peter Schiff was prominent at the time. But then Trump came along and much of that message on economics, the fed etc was all forgotten. I'm glad to see Peter is still around doing his thing.

Funny , and fictious economy . This like a new movie for these generations .

Tell ‘em Peter. They need to hear the hard truth

this is so much more clear than whatever michael saylor says

If the world goes off the dollar standard if your living in America or hold dollars as your primary assets your in big trouble

Kudos for brigning in the legend 💪🏾

PBD had no idea the voting age was lowered in the 26th amendment. You can tell by his look. Also many people are taking all the credit they can get and spending it as fast as they can because they have no intention of ever paying it back. If you never plan on paying it back what's the difference between borrowing 45K or 145K if they give you the money either way? You can't have a moral hazard in a country with no morals top down.

Thanks American voters for choosing wars over mean tweets

Yup, 1971 was when they lowered the voting age, the 26th amendment

My daughter goes to college and it is around 32k a year, 99 percent of her classes she takes online . It is such a scam . All these classes need to just be videod, and then put on youtube for 10 bucks

Scary stuff!!

University of Northern Iowa 1986 , $600 - semester

Save your money smartly. Don't buy things you don't need. Eat at home. Open a ROTH 401k for yourself. For your future self.

Love peter. Everyone needs to be their own bank and stack precious metals.

One of the best ways to fix this huge problem with have in America is to put back Glass-Steagall again. I admit I like Bill Clinton but this was one of the worse things he did for this country.

Anyone that's a friend of Ron Paul is a friend of mine.

Suggestion...put the link to the full episode in the description box.

Thank you So much Schiff. Finally, someone calling out the ABSOLUTE CRAP of guaranteeing college loans FOR ANY DEGREE

Feds endless funny money and no end in sight

Student Loans don't have bankruptcy protection. That money has to get paid by the borrower or the burden goes to the guarantors. That's why borrowers are required to sign a promissory note agreement. Borrowers and anyone attached to student loans are screwed if they don't pay. It's way worse than credit card or mortgage debt.

Everything Peter said is spot on. I will also add that the interest rate now do not match the rates of our current inflation. Interest rates on a home mortgage should much higher than they are now. If you are being left behind that is your own fault living pay check to paycheck buying what you think you are entitled to.

We are screwed either way at this point.

Came here to get my daily fix of the goings on of market fundamentalism

He’s right

1971 voting age was reduced

Im on team deflation.

Couldn't agree more with Mr. Schiff point of student loan debt forgiveness. The government have no business to get involved in anything and when they do everything become expensive. College in the US is a business and that means they have to make profit. Biden didn't forgive the loans he just transfer the heavy burden to someone else and guess who is it once again? The taxpayers! But the most important fact is that not only college will become ridiculously expensive but it will also diminish the value of those degree because now everyone can go to college. Its like money supply. When print out too much money it will become inflated. Same the thing here. Making and encouraging everyone to go to college make it less valuable. Why does college degree earner back in those old days earn a decent living? Because back then not alot of people have degree or should I even say a high school diploma and you can get a livable jobs for that kind of education. The point is when something is rare and a scarce it has value. When there too much of a particular products it becomes saturated and less value. Yes a college degree today has been inflated.

Anything can be commodified, but not everything should be commodified.

1964, 24 amendment to the constitution

Put interest rate on hold

They have lent out more money than can ever be repaid. Think about that, right before everyone losses their jobs.

Peter, why do you think credit card companies wouldn’t pass on those higher rates to the consumer? We already have 32% credit cards, they would just make it 42% and people would still use them. Most people have no idea what the interest rate on their cards are. Raising rates does not bring down spending as we have seen.

A good guest on Fredotainment?! 😂😂😂😂

This was an informative video! Everyone knows America is screwed at some point...

Agreed. I’ll continue to pay now to save the hit to society now. Think long not short

Student loan debt forgiveness is a bailout to colleges not to the students.

My grandpa had 3 houses 6 kids and 1 job 40hrs and base pay

26th Amendment: in 1971… lowing voting age from 21 to 18.

voting age should be 30

why you don't link the long form video is beyond me

Government backed student loans started with Obama interest was to go to Obamacare

IMF said no more money 😮

This is the kind of stuff that Peter gets truly right. It’s a shame that he has lost all credibility trying to shame Bitcoin

This dude has been saying the economy will crash since he was born

Saturday April 13th 2024

But if i take a stufent loan it all of sudden, no forgiveness.

I know this wasn’t his point but, it is heavily encouraged and supported that students work at internships or other jobs during breaks and over the summer. What is he talking about with that part…the middle class and poor kids work while in school but it’s just enough for books and extra food, car repair type…not enough to pay off 30k a year.

Crypto tanking more than 20% in 1 week! Gold has never tanked 90% several times like Crypto in the last 10 years ffs.

I had a contractor that came to my home to demolish a wall, and told me the wall would need no support beam, as the house is a truss, and he measured the angles, took out his calculator and gave me an estimate well under the cost of his competitors. He was much more knowledgeable than the rest; his vocabulary was amazing. My neighbor told me, thankgoodness, that he was an idiot. No way can that wall be taken out with a fireplace on top of it, and the load is just not right. He asked me to go to the city...ouch....and get a permit etc.. Another contractor came and he could not believe that a contractor, with a license, had offered to do the work without a supporting beam. This is who Schiff is; he has the vocabulary to talk people into the most stupid decisions and ruin their future. To invest in gold, but even he himself, invests in other things...and he KNOWS those other things have made him much more money. He basically evil, in the kind of way a used car salesman that will profit from selling you a lemon.

This guy really said consumers only spend by borrowing money they know they'll never be able to pay back..... dude has to get off your high horse...

Sorry, but what does the President have to do with the ratification of a proposed Constitutional Amendment? You may want to blame Nixon for plenty of things, but this probably shouldn't be one of them.

I have respect for people who get out there swing a hammer, pave a new road, making money off the stock market is easy.... I'm a capitalist, but what sense is being the richest country on earth when your average mom and dad is struggling.....

First like 👍🏼!

🇧🇷👍

Is this crazy or what?

.

Rich in loans Americans. Must be nice..

He’s full of schiff

Holi fok i hate society

Peter is Noah and new age Solomon the wisest man on earth most wise men have white hair

Let's be clear, once blacks started going to these schools, then the govt came in with these new regulations... And since MANY blacks couldn't get student loans at that time, they figured blacks would be classed out of college... Remember whtes, most laws was set up to keep blacks out, but since y'all poor too, it encompasses you too now... Come together and we can win... Stay free... #DT2Four

Way off as usual Peter. No one would bank post depression without FDIC. And while I agree student loans created velocity on college tuition pricing. The whole economic paradigm in America now is financialization. Lay off people, cut costs, produce inferior goods and services, and raise the price to the consumer. This is America.

Buy Bitcoin

Moral hazard ? This guy has no morals

This guy needs to stop giving financial advice he is like a broken record for 15 years saying dollar will collapse…shits on bitcoin and real estate… all of which have gone up. He made one good predictions and made a fake career out of it

The biggest reckless things banks do is establish a DEI department.

Bank failures are likely to continue increasing due to rising interest rates, as it causes their commercial paper and treasuries to become devalued. To prevent a severe economic downturn, it is necessary to implement a freeze on interest rates. Simultaneously, the White House should support the industry in boosting gas and oil production to lower fuel prices. The anti-oil stance only contributes to higher energy costs, leading to inflation throughout the economy. By reducing interest rates, tightening the money supply, cutting government expenditures, and increasing the availability of affordable fuel, inflation will decrease, and the economy will thrive. Unfortunately, various conflicting agendas make it unlikely for all these measures to be implemented, resulting in a recession and persistent inflation.