Peter has such a clear way of explaining economics in terms that everyone can understand. We need more people like him if we're going to fix this fucked up situation.

"If Ben Bernanke was in charge in 1930's, who knows, we might still be in that depression"... lol.

"You can always count on Americans to do the right thing - after they've tried everything else." -Winston Churchill.

God this is ominous listening to this in March 2021

Gas costs the same today as it did in the 50's. Beautiful analogy that perfectly illustrates inflation of our currency. The price of gas hasn't increased the value of our money has decreased.

Peter is right except for one thing: BEN BERNAKE DOES understand how the economy works, he just got paid to not share the information.

This is a fantastic presentation. I've watched it a few times over the years. It should be mandatory viewing for anyone studying business/finance/politics/economics, and for any socialist authoritarian who believes greed and profits are to blame for societies problems.

This is one of Peter's greatest speeches. This explains a lot of what is going on.

Someone has got to be wrong. And It definitely isn't Peter Schiff

Listening to Peter Schiff is like realizing one is living in a matrix

"if were to come back in a few years and show this chart we'd have to bore a hole through the ceiling because that's where it would be" 😂😂😂

Because of the great efforts of Ron Paul, we have a partial audit of the Fed and they now post the institution's minutes online.

Peter is the man and brilliant doesn’t even begin to describe this prophet of all things economic. Love him and his dad Irwin! RIP

"If you start flirting with inflation, it will end up marrying you." -- Otmar Emminger, Former President of the German Bundesbank

Peter Schiff: Gives 1 hour lecture Also Peter: Ok now try to prove me wrong

My right ear feels lonely.

I love how Peter makes multiple great points with multiple great explanations on each of those great points on why we were better off without the fed and the questioners try to pick out 1 or 2 of those great explanations of the great points and discredit them..

I love this man he opened my eyes and i learned a lot from him..

Crazy how relevant this is now more than ever.

For years, we've NEEDED someone strong enough and honest enough (a real leader) to tell harsh truth(s). Of course, it always helps to have a populace that thinks, and questions.

Watching the collapse today reminded me of watching this once before

Schiff is a legend. So passionate that it's actually quite entertaining and funny to watch. Around the 45 minute mark: "if we were to wait a couple of years," referring to the consumer prices chart, "we'd have to bore a hole in the roof to show you were it would go." Lol...

This is probably the best video that I have had the pleasure of watching for a long time.

hahaha that was actually me, I was that guy.. the reason I did that was almost a natural reaction for me, I was so excited to ask Peter a question that raised my hand too quickly without thinking what exactly I was going to ask him. Luckily, Peter took someone else's question. The Presentation was brilliant, I thoroughly enjoyed it, and also Peter is a great guy, very friendly.

I have watched each and every one of Schiff's videos and some of them multiple times

I wish I was able to explain this info as quickly and as clearly as Mr. Schiff. Well done. Keep sharing the truth,

Just 7 min in and I already feel this will be one of the best lectures. Thanks!!

He's become a better speaker over the last decade.

Government thinks business needs its help when help is hurt. And we keep letting them do it.

Lol Bernanke's slides look like they were made by a middle schooler. The Great Depression one was priceless haha, and this guy is the freaking Federal Reserve Chairman??

Thanks Peter, your knowledge of the TRUE state of how economies are manipulated is extremely enlightening and also extremely interesting.

This is a fine performance, somewhat of a classic.

I give the Fed and 'A' for brainwashing. FREEDOM!

I found that if you're listening through headphones, pull the jack out of the input slightly and it splits the signal (albeit slightly muted).

Many are suffering the “steak price is too high “ now. Just look at the grocery store. The display steaks are thin. Hamburger is getting pretty high too.

I LOVE ReasonTV! Nick, you rule man. Mr. Schiff, you are the best ever. You speak truth to power, fearlessly. Thank you.

if people would simply understand the difference between a Title 26, U.S.C. "excise tax" vs. a direct tax the world would be a much better place ... for everyone.

This prophetic video will go down in history just like the Peter Schiff Mortgage Bankers speech from 2006 that predicted the specifics of 2008 real estate crash in the US.

It looks like Ben Bernake and all 36 of his friends came to give a thumbs down to this gem of a video...

GREAT LECTURE, even if I'm listening to it 11 years later.

This plays perfectly today! June 2021

Well, not enough people even know exactly what the FED is, and the more people that talk about it, the better.

Libertarians are the only people who will go to a speech just to argue with the speaker lmao

Peter Schiff should have played the Wolf of Wall Street instead of Leonardo di Caprio

2nd Falsehood -- @ around 4:40 -- the reserve system. While the Fed was created in 1913, all through the latter part of the 19th Century the banking system relied on a structure of correspondent relationships -- big banks supported medium-sized banks, medium-sized supported small banks, and the really big New York banks, like JP Morgan sat on top of this correspondent structure. Even the big New York banks were formed into an association to support one another during a Panic. The banking system (any banking system) works on credit -- creating credit instruments (loans, mortagages, etc.). So banks operate on leverage. Reserves protect that exposure to leverage. The Fed can interject itself to play a role; or, as in the 19th Century, the correspondent relationships will provide some of that protection through their reserves.

Thank You for this post !! Appreciate it !! Keep Stacking !!

I think the inconsistencies on the macro side of things become less relevant if one sees markets being more Austrian. In the analysis of markets and policy, and for those who wish to acknowledge Austrian principles, the volatility doesn't cause so much of a panic. This is because, I believe that fundamentally, Austrian economics puts focus on individualism rather than stability of the market as a whole. Although there are instabilities, it allows for the eventual growth of more stable businesses

Exactly, but you forgot to add the part about Bernake being wrong consistently about everything he's forecasted throughouthis entire career.

Peter is the best. I had the chance to finally meet him in Scottsdale in Jan. 12' to a standing room only crowd. His firm Euro Pacific Capital, has been my brokerage firm now for almost 4 years. I feel I have learned from the best over these 4 years of listening to his talks, radio shows and blogs.

We agree that strong labor and middle class is a staple of this country, but we must not lose track of where this came from

Nice presentation which thoroughly demolishes Bernanke and the Fed. What's sad is people still believe that we need the government to spend even more to get out of this hole we are in.

Great video, I've been waiting for Reason to go after the Fed.

Only lenders of money and holders of debt dislike deflation. Unfortunately, that means bankers and government, so we're screwed.

Yes. Read the description.

To those who question "well yeah limited government and all but what about social safety nets for the losers of capitalism" and to that I answer "that's what saving is for". The choice, to save or not, is true freedom, and with freedom comes responsibility. Or free money? No responsibility.

Outstanding..thank you Peter

When it comes to finance, this guy is a prophet.

Peter Schiff is awesome.

These problems originated with the "always listen to your elders" and "don't question authority" generations.

You gotta be on your toes and speak quickly to keep up with Peter. If you start dragging your words or take too long to think he’s already got 5 thoughts flooding his brain and he’s gonna cut you off and finish his point lol.

You CAN listen to Schiff's radio, every program is done free in real time and it can be downloaded for free for one day after it is posted, you only have to buy membership to get old programs or if you want to see video.

This is just a brilliant speech on the truth. The Fed makes money cheap. People use the cheap money on risky investment and create a bubble. Bubble break and Fed print more money. Problem just repeat. No cure

"Assuming the Fed could maintain inflation at 2.0%, what would be the negative consequences?" Monetary inflation is necessarily always a redistribution of wealth to those closest and from those furthest from the central bank. This redistribution effect is, afterall, why counterfeiters exist. In the case of inflation, wealth is taken from those who are rewarded for their production, and given to the political class. It is a tax disproportionately hitting those least involved with government.

Everything he has said in this video from 9 years ago is more relevant today and all blossoming to its purest extent in front of our eyes.

Right ok. See my understanding comes from Murray Rothbard. The reason Glass-Stegall was in a way necessary was because the government decided to insure all of the depositors deposits up to about 250k I believe, which essentially is in implicit bailout guarantee for the depositor's respective bank. Insuring deposits is the problem more than Glass-Stegall is the solution because of theses banks were exposed to competition and forced to stand on their own 2 feet, no such guarantee would be needed

competition isnt existing in todays market because of government intervention, we follow keynes in society which unforttumatly creates monopolies

The rumor was Bernanke sat in back with a bad toupee and sunglasses taking notes...

Where do you find these historical price index charts?

Fantastic!

That was a very educational lecture, but I noticed at the end of the Q&A, probably because of time pressure, Peter Schiff answers a comment from the BLS guy by conflating price inflation with monetary inflation. He knows better than to do that as they have strong correlation but are distinct concepts.

thanks for the education

Plus, in response to one of the questions asked towards the end, there is such a thing as international trade.

Why does is this perfectly applicable today? 😳😳😳😳😳

The inflation during the Great Depression was not because of the gold standard, it was because of the excess credit that the Fed dispersed into the market. The founders mistake with the bi-metallic standard is that they set the ratio of silver to gold at 16:1 when the market value was actually like 16 and 1/2:1; my point being, the government should get out of money. You cannot predict the value of anything. The only perfect monetary system is one that is free from government intervention.

The world is about to change drastically!

They do want a healthy economy and a happy population. But they think the way to achieve that is through central planning. Their motives are only bad to the extent that they are willing to bully others into compliance with their schemes (and of course they are very willing to do that), but broadly speaking they want a roughly similar overall result as most of us for the economy. In other words, it isn't so much broader motives that are the problem, but rather their means and their hubris.

35k views? This should be mandatory viewing for everyone in this country. This country is going to hell in a hand basket.

Apparently 2022 feds learned nothing but how to kick the can further.

Thanks Reasontv, for redeeming yourself.,

53:48 I didn't think that Peter could possibly top any of his previous analogies! The obesity analogy was excellent

We had a modified gold standard during the GD, which was further modified during the GD, plus the Fed contracted the money supply at the beginning, which ALL economists agree is 'deflation', leading to price deflation. There was some price inflation during the whole GD period, but there was mostly massive price deflation, not inflation. It's not enough to SAY you are on a GS, while at the same time inflating the money supply. That is what led us to close the gold window.

Do you have a source for that stat?

thanks for the upload!

I believe Peter Schiff. I don't just listen when he speaks I hear and remember what he has said.

Watching this in 2021

The historian Frederick Lewis Allen explained much in his book 'Only Yesterday' published in the early 1930s. What Allen understood that most economists somehow fail to see is that the main driver of our boom-to-bust economic experience is our dysfunctional land markets. Actions by government and the central bank have exacerbated but have not caused recessions and depressions. A number of economists who have focused on "land market cycles" go back to the insights of Adam Smith and Henry George who saw that the privatization of the rent of land (i.e., of assets created by nature, not by us) acts as an enormous stress on economic activity. The result is to encourage the hoarding of land and land speculation. When fueled by easy access to credit the stress is that much greater. And, yes, the Federal Reserve by its actions made matters worse. After the crash of 2007 the Fed has set the stage for yet another land market surge and crash. The next one will be that much worse because the so-called recovery has been extremely uneven and has not helped many people below the top 10 percent.

One major issue I have with the gold standard: being the monetary base, how is the gold supply supposed to be able to keep up with economic growth? If it doesn't do that, since all the gold held in reserves must represent all purchasable output more or less, for each cycle of growth an ounce of gold will be redeemable for more and more real wealth, in other words, it will become more expensive in real terms, which will severely hinder its non-monetary uses like in industry or jewelry.

Great explanation, but I'd like to hear his explanation of why the housing bubble, which began in the mid- to late-1990s, didn't bust after the Fed raised rates in the early 2000s?

The sound is all in the left channel. Love the presentation but hard to listen to due to technical problem.

Mostly through legislation authored and pushed by Ron Paul... But there is still a lot of information that is not available about their activities.

I saw your comment despite the removal. We agree on some points, but disagree on many. You just ignore that the 19th century, which was the greatest time for American investment, was done without any govt subsidy at all. Not only did the Industrial Revolution literally make us the most wealthy nation ever, but it create such production, that we were pulling people out of poverty left and right lol. We created the middle class, its a by-product of private investment, not the other way around.

I got a little more footage from this event on my channel.

He explains that around 0:34:00 - 0:36:00

Where's the rest of this?

Great Vid as usual, thanks Peter!

What is a bimetal standard?

Hey how can we get DVD copy's of this to spread the word to our friends family's and other Christians that understand what our government is doing?

How much of a factor did the IPO(dotcom) bubble effect the housing bubble? Did the FED overreact or over correct in its fiscal policy to shore up the economy?

The textbook definition of "investment" requires using acquired capital from outside sources for production.

Anyone know is Peter is coming to Long Island??