Finally the moment you have all been waiting for! Two of your favorite Market/Economy Commentators. Karl Denninger (Deflationist) Versus Peter Schiff (Stag/Hyper Inflationist). This audio clip is taken from Karl Denninger’s weekly Blog Talk Tickerguy radio show. A caller calls presenting Peter Schiff’s thesis and Denninger gives his take. Either way you choose to look at it- both this gentlemen see VERY HARD TIMES ahead for the United States and World Economy. A Depression greater than the last Great Depression is ahead for us! Please visit www.truthisliberty.us BECOME OUR FRIEND on FB or Follow us on Twitter for more updates like these on the economy and more!
The entitlements are indexed to inflation. They are lying about the inflation, so they don’t have to raise the entitlements. They keep playing games with how they determine inflation… but it IS happening.
Karl is great, but I think he gives DC and the number reporters too much credit.
Everything DC says is a smoke screen and propoganda. If they want to change the nubers, they just change what or how they count what the numbers are based on.
Sooooo… this guy is betting on the entitlements NOT being given (ie. eliminated) and the populous being told no more money will be printed and given out… which is just as much of a shitstorm (if not worse) than inflating away the entitlements. The revolt and civil unrest will be horrific. Our seniors dying in the streets – there will be no jobs to go back to work. So inflation / deflation – we’re fucked either way. The whole financial world is a ticking time bomb.
@jeepndesert
The gold scam looks better than the paper scam
@jeepndesert No, it collapsed because the Fed kept interest rates low, by PRINTING MONEY, and then when the ARM’s reset to a higher rate, people couldnt afford it. Also, Goldman Sachs, sold the credit default swaps, saying they were AAA rated, but bet against them knowing people would default! So they made tons of cash.
we may have to offer the big banks some additional bailout money funded with monetary expansion necessary to end fractional reserve lending. it would cut in on our ability to pay off the national debt and cut taxes. however, such a compromise may be necessary to get the big banks behind it. we should let them fail. it would just be politically difficult. we should work towards that end by using credit unions and erode their market share incrementally after we get them to agree.
i think i’m starting to realize that just ending the fed, ending fractional reserve lending incrementally by expanding monetary supply as private debt is paid, and going on debt-free legal tender under treasury isn’t going to solve the problem because the banks will still collapse because of the financial derivatives. we can cancel debt issued to the fed itself which will help pay off national debt, but we’ll have to issue reserves directly to the banks rather than pay off national debt.
@RightWingTV peter schiff and the neo-libertarians are gatekeepers. they promote the neo-feudalism called anarcho-capitalism funded and promoted by the william volker fund and rockfeller foundation (mises, hazlitt, rothbard). ron paul gets donations from bilderberger peter thiel and partnered with pnac to promote the gold fraud. the gold standard is the original federal reserve banker scam. they got you brainwashed into false economic paradigms so you can’t see the truth.
@AngriestAmerican chicken prices are higher because chicken supply has declined because chicken farmers are going bankrupt. people have less money to spend because the banks are contracting money supply because they got a quadrillion counterfeit asset pyramid scheme problem called financial derivatives. people are still spending on chicken but spending less elsewhere. the debt monetary system is collapsing like how the gold/debt monetary system collapsed during the great depression.
@AngriestAmerican did housing prices collapse because there was more money out there chasing the same amount of houses? people aren’t paying mortgages so they got more money to chase chicken! you have to look at aggregates..
We’ve had 2 years of no COLA increases. Congress could conceivably pass a bill that guarantees a COLA increase every year, and hidden in that bill would be a COLA cap of say 2 or 3% as well as a 2 or 3% cap on all things indexed to inflation. Then Bernanke can have his field day. I have 100% confidence that congress could easily pass a bill like that, and 95% of them would get re-elected.
I thought Karl did a pretty lousy job ‘debunking’ Peter Schiff’s take on an inflationary world. First, he claims that Peter’s entire thesis is inflation…. To the contrary – An inflationary United States is simply the result of Schiff’s analysis of our predicament. And it is not as if Peter is advocating for the devaluation of the dollar. In fact, that devaluation has already occurred. To what extent, no one can be sure. We just have not yet seen the effects of the inflation in prices.
This is not a VS. They both have good points and know lots of stuff is wrong. The world is not going to end, but the US as we know it is.
@dannydarias1
That’s fine we don’t need to agree we can let reality be our judge jury and financial executioner.
This is how the world works people make bad decisions and reality catches up with them they should not get a bailout. Paper money provides for the bankers to get that bailout.
@davincij15 What you fail to see is that the fed’s power are all placed in their ability to print. I agree with Karl. DO NOT expect hyperinflation. If gold goes to $5,000 it will not be because of hyperinflation.
@RightWingTV
Meant to vote up, sorry!
What Karl fails to realize that the government has 2 choices default and get everyone pissed of today, and risk hyperinflation anyways, because what makes the bond good is what makes the dollar good.
OR
Obfuscate the printing as much as you can and have everyone pissed off at you years from now.
What choice would you make?
Karl is wrong why?
“I know that most men not only those considered clever, but even those who are very clever and capable of understanding most difficult scientific, mathematical, or philosophic, problems can seldom discern even the simplest and most obvious truth if it be such as obliges them to admit the falsity of conclusions they have formed, perhaps with much difficulty conclusions of which they are proud, which they have taught to others, and on which they have built their lives.”
Karl Karl Karl… a nation being in massive debt doesn’t protect them from rising prices.
It’s like saying Zimbabwe could protect itself by offering social security to more people.
The US is already printing money now, that’s what ‘low interest rates’ means – printing money and lending it out at 0% interest to financial institutions.
Gold getting to $5,000 is a conservative estimate. I’m guessing by 2015 it will be way past that.
@AngriestAmerican Im done too. They print money I agree. Where does the money go? To the banks? Yes…. Who can the banks lend the money to? Nobody… Who is able to borrow more money? Nobody.. Do you see the issue now? Printing doesnt do any good. Let the Fed print and send me and you a check and then I will scream inflation more than you.. Seriously. Keep waiting for the check, it should be coming soon. Lol
Everything is in deflation now, to the one true money. GOLD!!
There are only 2 ways to keep interest rates at 0%…
1- Real high Savings. Right now there is about 4% of people with savings.VERY VERY VERY LOW.
2- They print money
What do you think it is?
Anyway, I am done,,take care, have fun, and enjoy your dollars!!!!
@AngriestAmerican WRONG!!!! Inflation is the increase in money supply + CREDIT. You can increase the money supply, but if the credit in the system decreases by more, what good is it. For example, let’s say the Fed prints 2 trillion, but housing wipes out 3 trillion of credit. Do you see the issue? You guys have it backwards. I would have been thinking as you in the 1980s as inflation was kicking in. The credit side is getting hammered right now. It’s deflation!!!
@dannydarias1They print money!!! That’s how you have inflation. Inflation is the increase of the money supply. Higher prices is the symptom of inflation.
Right now the symptom of inflation isn’t in full force because, countries need dollars to buy oil and other commodities, so there is a demand for dollars. So most countries have dollar reserves. Once these dollars are liberated and come back to the US there will be even higher prices.
@AngriestAmerican The US is not in the same position as Zimbabwe. It’s the opposite actually. The US is awash with debt. I get confused with the hyperinflationists. In one side, jobs will never come back, the credit bubble is not coming back, yet we will get hyperinflation. How can you have inflation without credit, and jobs?
@dannydarias1 Hmmm,,well lets see if you bought gold at 250 an OZ in 1985,,i say you did pretty DAMN GOOD. But I didn’t, I bought silver,,starting at $7 an OZ and I say I pretty good also
Most of my friends lost their pants in 2000 when the tech bubble crashed.
Look, the dollar is bust, it will be soon like the Zimbabwe dollar.
When gold is money, only HONEST people can make money. That’s the problem with gold in the end. Have a good life, buy at least some silver and gold!!!
@AngriestAmerican I beg to differ. By the time gold hits 1,400-1,600 everyone will be buying gold hands over fist. We all know what happens when everyone is on the same side of the trade. You are also assuming that the DOW will stay at 10k. And this statement totally contradicts your previous statement. If the market = 1 oz of gold in 1933, and in 2000 it was 45, than which one performed better??