Participants
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| Speaker | Time | Text |
|---|---|---|
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unidentified
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Call the Berkey guy and order now by calling 1-877-886-3653. | |
| That's 1-877-886-3653. | ||
| Or simply click on the banner at GCNlive.com to order online now. | ||
| A day unlike any other in the long course of American history, a terrorist act of war against this country. | ||
|
unidentified
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The enemy struck America on September 11th. | |
| But who is the enemy? | ||
| Bin Laden. | ||
| This is his M.O. We have to look to the Middle East. | ||
| We have to look to Osama Bin Laden. | ||
| Fabled Enemies is the first 9-11 film to take a close look at the terrorist ties to intelligence networks inside the United States. | ||
| Some U.S. investigators believe that there are Israelis, again, very much engaged in spying in and on the U.S. I'm aware that some Israeli citizens have been detained. | ||
|
unidentified
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Bin Laden's connections to the CIA, the hijackers'ties to the FBI, the Saudi Arabian connection, the Israeli Intelligence Network, Warnings and War Games, the Shadow Government, and much, much more. | |
| Fabled Enemies. | ||
| Get the DVD at Infowars.com or see it in super high quality, along with hundreds of other titles at PrisonPlanet.com. | ||
| TV. Either you are with us or you are with the terrorists. | ||
| Attention, this is an extremely urgent self-reliant news bulletin. | ||
| If you have ever wanted to produce your own cheaper than dirt survival food, this is going to be the most important message you will ever hear. | ||
| Curious why? | ||
| This network has just learned of a new video course that reveals the secrets of how to safely prepare and store all types of survival foods in an event of social unrest and food shortages here in the U.S. Grain shortages and hunger are spreading across the globe. | ||
| Will troops guard the food supplies in the U.S. this fall? | ||
| Don't wait. | ||
| Learn the food shortage skills that can keep you and your family alive in a crisis. | ||
| Get the details at FoodShortageUSA.com. | ||
| You got it, Chef! | ||
|
unidentified
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That's FoodShortageUSA.com. | |
| yes jose he's also ready six thousand uh... | ||
| families per day are losing their homes yes there needs to be some for restructuring but we have it in such a way that it is you know really not the lies you hear from obama but a real trickle up where the population gets the money where they're this kind of High stakes, leverage. | ||
|
unidentified
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... | |
| your family alive in a crisis. | ||
| Get the details at FoodShortageUSA.com. | ||
| That's FoodShortageUSA.com. | ||
| Or you can call toll-free 877-327-0365. | ||
| Don't wait for empty shelves. | ||
| Go to FoodShortageUSA.com while you still have time. | ||
| www.FoodShortageUSA.com or toll-free at 877-327-0365. | ||
| Act now. | ||
| He's the T-Rex of political talk. | ||
| This is Alex Jones on the GCN Radio Network. | ||
| Peter Schiff is the president of Euro-Pacific Capital, Inc., a brokerage firm based in Darren, Connecticut. | ||
| And he's one of the leading supporters and promoters of the Austrian School of Economics. | ||
| He is an advisor and one of the people that Congressman Ron Paul cites. | ||
| He's involved with the Ludwig von Mies Institute as well. | ||
| And he appears as a frequent guest on CNBC, Fox News, Bloomberg Television, writes for some of the biggest newspapers in the U.S. and worldwide. | ||
| And we'll also be giving you his website. | ||
| He has several of them, so he can plug whatever he likes here on the air today with us for the next 50 minutes. | ||
| And if we have time, we'll take some phone calls for him before he leaves. | ||
| Mr. Schiff, it is really a great honor to have you on with us. | ||
| Oh, nice to be here. | ||
| Okay, let's get into what's happening with the current global financial system, where you see it going in the short and long term, the bailout. | ||
| But then I want to Uh, look at the different ways of dealing with this crisis from the position of the central bankers, which I don't want to call free market. | ||
| They're blaming the free market in the system right now in the media, versus what a true free market would have done. | ||
| Yeah, well first of all, the global financial system is in fact melting down, because it's been unsustainable. | ||
| The premise has been that the rest of the world saves their money, and they loan it to Americans who spend it all, and promise to pay it back. | ||
| But the problem is, you know, when you borrow money and spend it, you don't have any way of paying it back. | ||
| You know, the only way Americans can pay back the money we've borrowed is to stop spending, and therefore use the money that we would have spent on consumption to pay back our debts. | ||
| But we can't do that, because our whole economy is a function of us spending money. | ||
| So in order to keep our phony economy going, we have to keep spending, which means we can't pay back any of our debts, but in order to keep spending, we have to borrow more, which means the rest of the world Please | ||
| continue going through the fundamentals for folks and then Placing the blame where it needs to go, because instead they're blaming it on the American people, they're blaming it on... | ||
| Well, I mean, the American people simply, you know, acted on the incentives being delivered to them by the government through our monetary policy and through our fiscal policy. | ||
| I mean, number one, we kept interest rates much too low in this country, particularly in the aftermath of September 11th and the bursting of the Nasdaq bubble, when the Fed had interest rates down at 1%. | ||
| They were literally giving money away. | ||
| And, you know, when money is free, people take it. | ||
| And people took that cheap money and gambled with it, principally on real estate. | ||
| Not only were Americans gambling themselves by buying real estate at prices that were absurd, but Wall Street was financing the whole thing. | ||
| They were taking the cheap money and underwriting everybody's speculation in the housing market. | ||
| So we had this gigantic housing bubble. | ||
| And, of course, the housing bubble made everybody think that they were rich. | ||
| And so as people were extracting equity from their homes and buying cars and SUVs and cell phones and plasma TVs, they didn't really think they were borrowing the money. | ||
| They actually thought they were rich. | ||
| They thought they had all this home equity that they were tapping into. | ||
| But the reality was the home equity never really existed. | ||
| All they were doing was borrowing money, you know, secured by, you know, the illusion of home equity. | ||
| Secured by inflation. | ||
| Well, the inflation is what was putting the money into circulation. | ||
| And eventually, the inflation started to cause prices to rise other than real estate, such as food, such as energy. | ||
| And, of course, the government blamed that on external factors. | ||
| as a direct result of their monetary policy. | ||
| But then we also have a tax code that incentivizes borrowing. | ||
| We give people deductions for their mortgage interest, yet we tax people if they earn any interest. | ||
| And we had all kinds of incentives to buy and flip houses with tax breaks. | ||
| If you buy a house and sell it a profit, you pay no taxes. | ||
| But if you buy another asset and sell it a profit, you pay taxes. | ||
| And if you actually work for a living and earn wages, you I mean, you pay a lot of taxes, so the government made it more lucrative to flip property than have a job, and they provided the cheap money. | ||
| They also provided the market with Freddie and Fannie, which are these giant government-sponsored enterprises, which by guaranteeing all the mortgages made it possible for people to borrow much more money than they can repay, because the lenders didn't care about the default risk, because the government was guaranteeing the mortgages. | ||
| So you had that moral hazard, and they had this huge We're good to | ||
| go. We're good. | ||
| but i think that we were spending the money on we're being produced in china and japan and other parts of the world actually we're going to be living off the charity the productivity of the rest of the world that it was destined to get because the The world's not going to support us forever. | ||
| Break down where we're going. | ||
| I mean, either way, I mean, the bailout to me is not so much about the eight hundred and something billion up to five trillion, depending on how you look at it, that it is about giving new powers to the Treasury, giving them immunity. | ||
| And now we see all these different... | ||
| There's no real bailout because the government can't bail anybody out because the government is broke. | ||
| I mean, they're just going to borrow more money from abroad or print more money. | ||
| And ultimately, it's a power grab by the U.S. government to take more control over our economy. | ||
| And, you know, it's not going to make the stock market go up. | ||
| It's not going to make the real estate market go up. | ||
| I mean, it's not going to make all these bad loans disappear. | ||
| It's just going to make the bad loans, the losses for those bad loans, felt more intently by average Americans than would otherwise be the case if the losses were left on the books of the banks. | ||
| So, where is all this going? | ||
| I mean, one way or another, how is this going to unfold? | ||
| Well, it's going to be a disaster. | ||
| I mean, we're going to have something like the Great Depression, only maybe worse, because this time it'll be an inflationary depression, where instead of consumer prices going down, they actually rise substantially. | ||
| and that is what we're looking at and And, you know, the reason we're going to have a depression is not because of a failure of the market. | ||
| I mean, that's not why we had a depression in the 30s. | ||
| The government will create a depression because they refuse to allow the market to function. | ||
| You know, they refuse to allow the free market to work out all these malinvestments and purge all the excesses from the economy because the politicians don't want to level with the American public and tell them that times are going to get tough and that there's nothing the government can do about it. | ||
| That this is just the price we have to pay for years of reckless borrowing and spending. | ||
| All the years we lived above our means, now we're going to have to live below them. | ||
| And they don't want to deliver that message. | ||
| And so they pretend. | ||
| They want to pretend that, oh, there's a big problem, and we as a government are going to save you. | ||
| We're going to protect you. | ||
| We're going to give you something. | ||
| And that's what's going to create the depression. | ||
| It's going to be all the interference in the market that is going to lead to widespread unemployment, massive inflation. | ||
| Because of decades ago, And throughout financial history, not just here, but in Asia, in the 90s, as you know, but I'd like you to speak to this, governments do come in and reward the criminals that are engaging in this, generally from the government level, between corporations and the government, in collusion, which is crony capitalism. | ||
| It's not free market. | ||
| And so that allowed them to be involved in even bigger I mean, that's what they're doing. | ||
| That's what they're doing right now. | ||
| I mean, governments love a crisis, especially if it's a crisis of their own creation. | ||
| Because what happens is they infect the free market with their socialist programs, and then when it has a deleterious effect, then the government can ride to the rescue saying, aha, we told you capitalism doesn't work, you need us to save you. | ||
| And the public is so scared that they trust the government, and the government grabs even more power. | ||
| And now they use that power to do even more damage, and now they say, aha, you need us even more. | ||
| And they continue to use the crisis in the bad economic times to grab additional power. | ||
| In fact, if you look at all the despots in history, and you look at where they came, and you look at Adolf Hitler, how was he able to come to power? | ||
| He was able to come to power amid the chaos of the hyperinflation that ravaged the Weimar Republic. | ||
| If it wasn't for that type of environment, the Germans never would have given up that kind of power to him. | ||
| The private banks should have gone out of business. | ||
| Some of them that ran scams and caused panics leading up to 1913. | ||
| Then the banks Yeah, and you know, | ||
| and the government is trying to pretend that we have to prop up these banks so that we can keep on buying Exactly! | ||
| They're acting like the economy. | ||
| They're saying there won't be payroll met. | ||
| The whole economy will shut down if we don't have these guys to lend. | ||
| i don't run my little business uh... | ||
| in debt i don't know i don't know what they could look like i hear the politicians say stuff like it would be a big bank and i hope that you won't be able to borrow any money to send your kids to college well you know what that's actually a good thing it doesn't mean that it won't be able to go to college what's the university You know what they're going to do? | ||
| They're going to slash their tuitions! | ||
| They're going to look over their bureaucracies and they're going to figure out where can we cut back? | ||
| Who can we fire? | ||
| Because we don't want to go more than that. | ||
| The University of Texas, the 90 plus percent of its operations is just investments that have nothing to do with the university. | ||
| They're going to stop ripping the people off and then putting it in their own private crony side businesses. | ||
| So stay there. | ||
| Our guest is Peter Schiff. | ||
| Stay with us. | ||
|
unidentified
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Hello, this is Tom with hempusa.org. | |
| Most of you have been hearing my ads for the past few months, and it's no secret that the economy is failing and prices are rising in all sectors. | ||
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| When making important financial decisions, you should always know the facts. | ||
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| Get the facts and call Midas Resources toll-free at 888-292-2709. | ||
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| May I have everybody's attention, please? | ||
| I've come with a message of information. | ||
| 9-11 was an inside job. | ||
| Do you like being a puppet, sir? | ||
|
unidentified
|
Do you like being a puppet for the New World Order? | |
| How do the American people know that 9-11 was a state, it wasn't engineered by you, David Rockefeller, the Trilateral Commission, the CFR? | ||
|
unidentified
|
The day that we stop asking questions is the day that we have allowed the seeds of despotism to grow at our own door. | |
| Seven years after the attacks of September 11th, a global awakening has taken place. | ||
| An inside job. | ||
| How dare you? | ||
| If you know that there's treason going on, you can be held accountable for treason yourself. | ||
| All hell is breaking loose on 6th Avenue. | ||
| And if the government has not told the truth in 5 years, we will be here on the 10th anniversary of... | ||
| Truth Rising. | ||
| Download the film at prisonplanet.tv right now. | ||
| Or get the DVD at infowars.com. | ||
| It's now time to take the revolution to the next level. | ||
|
unidentified
|
Government is best, which governs least. | |
| Wake up and smell the fascism. | ||
| Being in government means never having to say you're sorry. | ||
| What part of unconstitutional do you not understand, George? | ||
| It's not who votes that counts, it's who counts the votes. | ||
| In today's world full of tyranny and injustice, Sometimes it seems the only thing we still have is our freedom of speech. | ||
| Exercise your freedom of speech by purchasing your choice of hundreds of different Liberty Stickers, from humorous to serious, at LibertyStickers.com. | ||
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| Invest in your freedom. | ||
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| For a limited time, go to LibertyStickers.com and receive a free Ron Paul bumper sticker with any purchase by any Peter Schiff, | ||
| the president of Euro-Pacific Capital Inc., brokerage firm, one of the experts You know, it's funny, the true free market libertarian folks have been right about what was going to happen all along, but we're not the ones now that are going to be listened to. | ||
| It's going to be the very people, the very people that carried all of this out. | ||
| What do you see them doing? | ||
| And, I mean, breaking it down, what is it going to look like? | ||
| Is this going to be a full-bore depression? | ||
| something worse if we don't change. | ||
| You know, when I wrote my book, Crash Proof, How to Profit from the Coming Economic Collapse, which came out in February of 2007, and interestingly, even almost two years after it's come out, it's right now the number one selling investment book on Amazon, and I think they just reprinted another 35,000 copies, which they tell me is unprecedented for a book that's almost two years old. | ||
| People are certainly reading it, but when I wrote that book originally, one of my forecasts was this economy would collapse, this phony borrow and spend economy, the housing bubble. | ||
| I predicted that all that would happen, that we'd have major fallout and ramifications in the financial industry and among the lenders, based on all these mortgages gone bad. | ||
| But I also made a more dire forecast, which was predicated on what I thought the government would likely do in response to the crash, to try to prevent it from happening, to try to artificially reflate real estate prices. | ||
| And it's those government actions that I feared would lead to the worst-case scenario of a hyperinflation and, you know, of a real disastrous outcome for our economy. | ||
| And now that is exactly what is happening. | ||
| The government is doing exactly what I feared they would do. | ||
| And, yeah, you know, it does frustrate me that, you know, for years I was going on television and certainly writing and doing things and pointing out all these problems. | ||
| I mean, he's just fear-mongering, none of this could possibly happen, it's impossible. | ||
| And of course, all those economic predictions have come true, yet the very people who said that it was impossible, the people who assured us that our economy What are you doing with | ||
| Your money. | ||
| Well, I mean, I'm doing the same thing with my money as I've been recommending that everybody do their money for years. | ||
| Get out of the U.S. | ||
| dollar. | ||
| I mean, I know that everybody is talking about, how is this bailout bill going to affect taxpayers? | ||
| Well, it's not going to affect us so much as taxpayers, because nobody is raising our taxes. | ||
| In fact, in this most recent bailout bill, the Senate approved an additional $100 billion in tax cuts. | ||
| So, you know, not only are they spending $700 billion and not paying for it, but they're cutting taxes by an extra $100 billion. | ||
| So it's not taxpayers who are going to suffer, or not Americans with their taxpayer hat. | ||
| How we're going to suffer is through the erosion of the value of our wages and our investments. | ||
| Our savings, the bonds that we own, the insurance that we own, because it's all going to be paid for with inflation. | ||
| The government is printing money and spending it into circulation, and it's going to debase the value of everybody's savings and everybody's wages. | ||
| And it's not just going to be this $700 or $800 billion. | ||
| Because of the perverse moral hazards that are built into this bailout bill, the result of the bailout bill is going to be a wave of delinquencies on their mortgages. | ||
| Because what's going to happen now is that when somebody stops making their mortgage payment, there's not going to be a foreclosure. | ||
| What's going to happen is the bank is simply going to sell that asset to the government rather than foreclosing, because they'll get more money selling it to the government. | ||
| So if you stop making your mortgage payment once this bill is passed, no one's going to kick you out of your house. | ||
| You'll probably live there for a year or two, and eventually you'll get a call from the government saying, Hey, we own your mortgage now. | ||
| I know it's $500,000, and I notice you're not paying it. | ||
| How about if we reduce it to $200,000 and give you a 30-year mortgage at 4%? | ||
| Would you consider making the payments? | ||
| And then you might say, sure. | ||
| So what's going to happen is this is going to turn into a, you know, an investment. | ||
| they'll bail you out of your credit card debt, too. | ||
| But again, how they're going to bail it out is issuing more liquidity that devalues the dollar, and who does that punish? | ||
| The people that actually did save, the individuals that actually didn't. | ||
| Oh, those are the suckers! | ||
| And therefore, we can't have an economy. | ||
| You see, the only way you can have a capitalist economy, a real economy, is to have savings. | ||
| Savings are the root of all economics. | ||
| And we now have a negative savings rate, lower than the depth of the Great Depression. | ||
| Stay there, Peter Schiff. | ||
| I'm going to come back and get your take on then where this is going, how this is going to unfold, and also tell folks about your book that predicted all of this. | ||
| Stay with us, ladies and gentlemen. | ||
| My website's InfoWars.com. | ||
| His is Europack.net. | ||
|
unidentified
|
We're on the march. | |
| The Empire's on the run. | ||
| Alex Jones and the GCN Radio Network. | ||
| Today, unlike any other in the long course of American history, a terrorist act of war against this country. | ||
|
unidentified
|
The enemy struck America on September 11th. | |
| But who is the enemy? | ||
| Bin Laden. | ||
| This is his MO. | ||
| We have to look to the Middle East. | ||
| We have to look to Osama Bin Laden. | ||
| Fabled Enemies is the first 9-11 film to take a close look at the terrorist ties to intelligence networks inside the United States. | ||
| Some U.S. investigators believe that there are Israelis again very much engaged in spying in and on the U.S. I'm aware that some Israeli citizens have been detained. | ||
|
unidentified
|
Bin Laden's connections to the CIA, the hijackers'ties to the FBI, the Saudi Arabian connection, the Israeli Intelligence Network, Warnings and War Games, the shadow government, and much, much more. | |
| Either you are with us or you are with the terrorists. | ||
| You ever have one of those days where everything goes right? | ||
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| Even fragrances can signal some 4,000 separate ingredients, most of which are synthetic. | ||
| Hi folks, Alex Jones here. | ||
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|
unidentified
|
Please. I was sitting in traffic, listening to the radio. | |
| George Strait was singing, seashores of old Mexico. | ||
| it's out. | ||
|
unidentified
|
I've got an idea. | |
| Peter Schiff, I've got to get you back on for another hour or so to break down real free market versus this thing we've got where select bankers and corporations don't play by any rules. | ||
| They can cheat and steal the public. | ||
| This relationship with the government where they suck the wealth of the people out and then they call that capitalism, when really it's beginning to look like communism or socialism for the rich and slavery for us. | ||
| Here's the toll-free number. | ||
| I'm opening the phones back up. | ||
| He's going to be gone in 15 minutes, or 18 minutes to be technical. | ||
| 1-800-259-9231, 800-259-9231, to get up on the air with our guest, best-selling author multiple times, Europack.net. | ||
| But I wanted to talk to you about the window of opportunity we've got, because I was pleasantly surprised when The Congress, the House, said no Monday because they were getting 2,000 calls to five. | ||
| I talked to multiple congressmen on air. | ||
| It was about that they get thousands of calls for a couple of pro-calls. | ||
| Other senators are saying the same thing, not just House members. | ||
| So they did the right thing, narrowly defeated it by 25 votes or so. | ||
| Now the Senate passes it. | ||
| They're trying to get the House to pass it now. | ||
| And all this immunity and new power, as you said, to the feds. | ||
| How do we maximize, like you said, your book, two years in print, number one on Amazon right now in the financials, you know, everything I've talked about, our numbers exploding, Ron Paul's credibility exploding, you know, all of us that were right, not that we're geniuses, we're just studying real history and what the financial leader doing, | ||
| how do we maximize this window of opportunity to hopefully turn this around before, as you've said, You know, you predicted this, and then you gave a worst-case scenario, and they're following the worst-case scenario. | ||
| We can turn it around. | ||
| You know, the Congress is probably going to pass this thing. | ||
| You know, they scared the public now with this big drop in the market. | ||
| They're blaming it on the fact that the bill didn't pass. | ||
| And they're saying, look, just pass this bill, and we'll make your stocks go back up. | ||
| It's not going to work. | ||
| I mean, the market's going to go down whether they pass it or not. | ||
| Ultimately, it's going to go down more if they pass it than if they don't, because, again, This is going to do a lot of damage and cede a lot of power to the government and make the markets a lot less free and therefore less efficient. | ||
| But unfortunately, there's nothing we can do as Americans. | ||
| You know, we can protest all we want, but we're not going to change what government is doing. | ||
| So all we can do, unfortunately, is protect our own wealth and our own families by taking our financial destiny in our own hands. | ||
| And that was part of the premise of my book, Crash Proof, in my new book. | ||
| i have a book that just came out this week a couple of local bull moves in their markets that it is designed to not only show you that this crisis is inevitable but you know where you can invest your money so you don't end up broke like everybody else because unfortunately if they wipe out the value of the dollar they're gonna wipe out all u_s_ dollar financial assets and with that any retirement dream that any americans might be hard-bearing right now if they if they have dollars and i don't care You can be a multi-millionaire. | ||
| You might even be a billionaire. | ||
| If your money's in dollars, you're going to be broke. | ||
| So you've got to look around. | ||
| You've got to look at foreign markets, foreign currencies, precious metals, other types of investments. | ||
| And, you know, it's very ironic that right now you're actually seeing the dollar strengthen substantially based on the prospect of this bailout. | ||
| Because the world's investors are so stupid that they actually think the bailout's going to work. | ||
| They actually think this thing is going to solve all of our economic problems. | ||
| It shows you how little people learn. | ||
| I mean, of course, these are the same investors who bought all those subprime mortgages in the first place and thought they were so great, and who bought all the dot-com stocks in 1999 and 2000. | ||
| So they have a lousy track record, yet they determine the short-term movements in the market because they control everybody's money. | ||
| Well, absolutely, enemy. | ||
| Ron Paul on the show last week said that Bernanke And Greenspan and Paulson should be arrested. | ||
| They've clearly enlisted some of the crimes they've been committing. | ||
| And I think, you know, instead of the criminals that engineered this now getting to take over even more of the crisis they created, I think it sends a good message to start grand jury indictments. | ||
| Yeah, that'd be great. | ||
| But of course, you know, I thought, look at Paulson. | ||
| I mean, poor Paulson was running Goldman Sachs. | ||
| I mean, he was part of the problem. | ||
| That's what I mean. | ||
| Look at that guy. | ||
| Without this bailout, Goldman Sachs would go out of business. | ||
| not be out at a head of the call to a lot of the people that called the fact that it would have been part of the book and charge will shouldn't ron paul and others in congress shouldn't congress b saying at least you're to blame study uh... | ||
| and then dealing with it from that perspective uh... | ||
| instead of just bowing down before the bomb it's so amazing to see democrat republican leaders the president the treasury secretary The Fed head, or the private Fed, go on TV and say, go on TV, I mean, I want your take on this, go on TV and say, you give us what we want, and you give us unlimited power, and that's what the first version said, the new one says similar things, or there's going to be a depression. | ||
| I mean, that itself should have sent us in. | ||
| I know, and it's not like, look, it wasn't not too long ago, Paulson was saying it was the greatest global economy he'd seen in his lifetime, that the President Obama had never been in better shape, and now we're on the verge of an economic collapse? | ||
| How can that be? | ||
| Obviously, if he's right now, he was wrong then. | ||
| And if the guy is so incredibly incompetent, why should we give him all this power? | ||
| Well, they're not. | ||
| They know. | ||
| They've been lying the whole time. | ||
| I went to Congress like a month ago, and looked those congressmen and senators right in the eye, and said, if you put a bazooka in my pocket, I'll never use it. | ||
| Peter Schiff, one year later, he's using it. | ||
| Oh, he's shooting it at the deal drive. | ||
| No, I understand. | ||
| And now we're giving them a nuclear warhead! | ||
| I agree. | ||
| Peter Schiff, how is this going to play out? | ||
| I've been really good at predicting what's going to happen. | ||
| They're following the bad course. | ||
| I agree with you. | ||
| It looks like they're going to go ahead and follow the worst possible course, but at least it's without the will of the people. | ||
| And so now, when it really runs its course, then we may have a chance of finally removing... | ||
| We are going to create massive inflation, a lot of unemployment. | ||
| What's going to happen is you're going to really start to see I think so. | ||
| I mean, that's what we're doing. | ||
| You know, my brokerage firm is called Europacific Capital, and the website for the firm is europac.net. | ||
| But what we're helping people do is get their money out of U.S. dollars and accumulate foreign assets, precious metals, while it's still legal, and while the dollar still has value. | ||
| And I would recommend... | ||
| Well, that's what I'm telling people to do. | ||
| ... | ||
| but people who have a lot of financial assets have to act quickly. | ||
| Otherwise, they're going to watch an entire lifetime of savings and investments. | ||
| Well, that's the fact. | ||
| The establishment, the big, you know, the top guys running the criminal operation, they plan to blame this on capitalism. | ||
| They plan to manage this crisis they engineered into a total police state, as you said, and they're moving in heavy armored brigades, saying in the Army Times, it's for civil unrest. | ||
| They've set up NORTHCOM. | ||
| They passed the John Warner Defense Authorization Act two years ago, saying it was for martial law. | ||
| They have been planning this all along. | ||
| No, I don't think they're smart enough to engineer it. | ||
| I just think it's a comedy of errors. | ||
| People have good intentions. | ||
| I don't read into it an evil motive. | ||
| Have you ever read the IMF World Bank documents? | ||
| They try to destroy the country. | ||
| I just think they're just completely incompetent, and they're looking out for their own self-interest. | ||
| And they just knew five years ago to secretly start federally getting rid of posse comitatus for an economic collapse. | ||
| I don't have a nefarious motive, and I don't think they're smart enough to say, hey, let's collapse the economy ourselves. | ||
| They're just making mistakes. | ||
| They're just doing things wrong. | ||
| There's just so much ignorance out there. | ||
| I believe that a lot of these Senators who voted for this bill really believe they're doing the right thing. | ||
| I don't think they're evil people. | ||
| I just think they're a little bit of a no. | ||
| Either way you cut it, as you know, it's the same thing. | ||
| The same thing is going to happen in the end. | ||
| And as soon as the yuppies finally stop believing CNBC and finally do buy gold and silver, we've already got the mints shutting down, selling a lot of their coins, not just the buffalo, as you know. | ||
| By the time the average American wakes up and tries to buy gold, it'll be thousands of dollars an ounce. | ||
| Oh, sure. | ||
| How high do you think gold's going to go by the end of this? | ||
| How long is this going to run? | ||
| By the end of the year, I don't know. | ||
| I was forecasting $2,000 gold sometime next year, and I still think that's a reasonable target. | ||
| but you know ultimately there's no feeling to what the price of gold can go to because there's no floor for the dollar i mean look what the price of gold is in zimbabwe i mean it's billions of dollars an ounce actually i think it's trillions of dollars an ounce so you know if you can you can debate your currency down to nothing so i don't know gold might go to five or ten thousand dollars an ounce but it could go a lot higher i mean there's no way to know because you don't know where the dollar is going to start falling if we end up with zimbabwe style hyperinflation you're not going to be | ||
| I agree, so... | ||
| People better move into real assets and they better do it movie pronto. | ||
| Let's go ahead and talk to, uh, who's up first here? | ||
| There's so many calls. | ||
| Kelly in Maine. | ||
| You're on the air, Kelly, worldwide. | ||
|
unidentified
|
Hello, Alex? | |
| Yes. Ah, thanks for putting me on. | ||
|
unidentified
|
And also, um, thank you for shouting out to Justin TV earlier. | |
| You bet. | ||
| You're on the air with Peter Schiff. | ||
| You have a question? | ||
|
unidentified
|
Yes, I do. | |
| Um, I want to know what will happen if the government will own the mortgages? | ||
| Will they start building on the land like FDR did? | ||
| Yeah, they're going to have make, work, and projects that they're going to own are going to be for land that already has a structure on it. | ||
| But what I think the government is going to do once they acquire these mortgages is I think they are going to make deals with the homeowners and substantially reduce the mortgages that people owe. | ||
|
unidentified
|
By the way, banks are already... | |
| Dramatically. Peter, you're right. | ||
| Banks are already privately doing deals with people to substantially cut down on what things cost so people won't walk away. | ||
| Yeah, I'm in favor of that. | ||
| But what I'm not in favor of is the government overpaying for these mortgages and then doing the deals and throwing the losses on American citizens. | ||
| Yeah, what did you think of Bernanke saying he wants the government to pay premium prices? | ||
| They have to pay premium prices, otherwise they would bankrupt all the entities they're trying to bail out. | ||
| That's the whole joke. | ||
| The government is trying to pretend they're going to make money. | ||
| That's unbelievable. | ||
| That's a crock. | ||
| Kelly, anything else? | ||
|
unidentified
|
No, that's it. | |
| Thank you. | ||
| Thank you. | ||
| Let's go ahead now and talk to Clifford in Pennsylvania. | ||
| You're on the air with Peter Schiff. | ||
|
unidentified
|
Yes, sir. | |
| Mr. Schiff, I'm a... | ||
| You have my account already. | ||
| Okay, good. | ||
| Well, I'm down 15% in the last two weeks, and I spoke to Mr. Lukasiewicz today, and I spoke about precious metals Let | ||
| me comment on this because I'm not in business Uh, with our guest, Mr. Schiff. | ||
| Uh, we have him on because he has a track record of being about 95% right on predictions. | ||
| The establishment, and I appreciate your call, Clifford, has trained us. | ||
| Okay, stay there then. | ||
| The establishment has trained us to look at the market day to day, week to week, instead of on one year, two year, five year, ten year graphs. | ||
| Gold, Is going straight up. | ||
| Commodities of every type are going straight up because they're still going to have value, and then that will be adjusted with currencies as they're devalued. | ||
| Okay? And so, you know, I've read over Schiff. | ||
| He's saying invest in Europe, invest in other places. | ||
| That's not going to give you total protection. | ||
| It's statistically going to give you a higher protection than being in the center of where the H-bomb's going off, right here in the United States. | ||
| is that correct sir it's just that right now a lot of people are running towards the blast eventually they're going to turn away from the u_s_ but yeah A lot of these foreign assets are going down right now, but you know what? | ||
| It's a great time to buy them because we're getting a great deal. | ||
| It doesn't mean it's the absolute bottom, but a few years from now we're going to look back at these prices And kicking ourselves because we didn't buy even more! | ||
| Well, I'll tell you this. | ||
| I'm about being in nothing but solid now. | ||
| Because I don't trust any of it that's in any paper. | ||
| Certainly people should be conservative, but precious metals, all the way, you can't beat that. | ||
| It could go up or down, but bottom line, it has intrinsic value because of intrinsic scarcity. | ||
| Real fast, I want to get other callers in here. | ||
| Finish up, Clifford. | ||
|
unidentified
|
Well, I mentioned the gold multiple times in the last two weeks, and I know it's going up and down. | |
| But I'm with you, and I'm looking for the protection of USED Solar Assets, and some of your managers don't think the same way. | ||
| I don't think the stocks that we're buying are real assets. | ||
| We're buying utilities, we're buying oil and gas companies, we're buying commodity companies. | ||
| Yeah, they're not buying leveraged paper. | ||
| We're buying real stuff around the world and getting dividend yields. | ||
| Listen, I appreciate your call. | ||
| Stocks go down. | ||
| Clifford, you can call if you're in business with our guest. | ||
| Talk to him then, okay? | ||
| We gave you two questions. | ||
| Let's go. | ||
| I mean, look, you're in a volatile market, folks. | ||
| It's going to get bad, okay? | ||
| Let's go ahead and talk to Chuck in Texas. | ||
|
unidentified
|
Yeah, my question was, in 1929, they tried to do a bailout, sort of, kinda. | |
| they had more from jp morgan by a whole bunch of stocks no for a year it was a roller coaster yeah yeah and they were able to make it look like it was okay and Shortly after that, the market started going back to getting all crazy again, and then it just fell even harder than it was going to to begin with. | ||
| Yeah, that's the whole point. | ||
| They know that. | ||
| They're just trying to shore up their assets and keep the whole thing going as long as they can. | ||
| Let's get our guest's take on that. | ||
| Yeah, I mean, no question about it, but what we have to do is we have to keep our mind on the bigger picture and what's going to happen eventually to the value of the dollar. | ||
| And the fact that right now, you know, there is a global financial crisis because Americans, we borrowed trillions of dollars from the world and we can't pay it back. | ||
| And so the people around the world who've loaned us this money, they're suffering because they've lost a lot of wealth. | ||
| They bet big on Americans and they lost. | ||
| We also have an arrogant... | ||
| Their economies are far healthier than ours. | ||
| We also have an arrogant, predatory government that is going to keep squeezing as the states go bankrupt. | ||
| So watch your six, folks. | ||
|
unidentified
|
I know. | |
| Look, some of the municipalities, or there's another big municipality that's about to file Chapter 11. | ||
| It'll be the biggest bankruptcy since Orange County. | ||
| And, you know, people are sitting in municipal bonds. | ||
| They think they're safe. | ||
| A lot of these municipalities are going to be going bankrupt in the next several years. | ||
| And even the ones that don't. | ||
| All you're going to get back is money that has very little value. | ||
| Also, the big brokerage firms have been roping into the pension funds and retirement funds. | ||
| Folks, you're screwed. | ||
| Get ready for the New World Order. | ||
| Let's go ahead and take another call here. | ||
| Let's talk to Nick in Brooklyn. | ||
| You're on the air. | ||
| Last caller for our guest. | ||
| Go ahead. | ||
| Alex, how are you doing? | ||
| Good. Go ahead and talk. | ||
| Listen, I've got a quick question. | ||
| Are you familiar with a guy named Lyndon LaRoche? | ||
| Yes, I just an hour ago said that I don't agree with his solutions of big government. | ||
|
unidentified
|
Okay, I must have missed that, because actually, I just wanted to know, you know, get your take on that stuff. | |
| Well, I mean, he's right about a bunch of the problems, but I don't agree with their big government socialist solution, and we'll close out with Peter Schiff on that subject right now. | ||
| Well, I'm not even too familiar with the theories of Louis de Rouge and I know of him, but I don't really, I haven't really studied any of his stuff, but yeah, I'm sure he's, I'm sure he's come to some big government-type conclusions, and I find a lot of Look, I'm against the bailout. | ||
| But if they're just gonna give it to the private bankers, and if we're gonna have socialism, they might as well just give us If they're going to devalue our currency, just give us all a $50,000 check. | ||
| I mean, and that would spur the economy. | ||
| Yeah, just cut out the middleman of Wall Street. | ||
| Yeah, just take the money and drop it directly from the helicopters to the people instead of funneling it for Wall Street. | ||
| Directly from the helicopters. | ||
| All right, Peter Schiff, I'm going to get you back up in the near future. | ||
| Europac.net, thank you so much. | ||
| Sure thing. | ||
| All right, we'll be right back with flannel transmission. | ||
| TerrorStorm, a history of government-sponsored terror. | ||
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| Music Ladies and gentlemen, we had a absolutely power-packed radio show today with Andrew Gauss, George Butler, Peter Schiff, and others. | ||
| We've got other big guests tomorrow and throughout next week. | ||
| We will continue to track the criminal activities of the New World Order here on air for all of you. | ||
| But in these times of uncertainty, The American people are not taking this half as seriously as they will soon. | ||
| We are so easygoing, so comfortable, so used to everything basically being smooth. | ||
| Though we've been economically losing more and more over the last few decades, the very serious times are here. | ||
| Even more serious times are ahead. | ||
| And now more than ever, I need you, the listeners of this radio show. | ||
| To get on other radio talk shows, not just here on the network or the Patriot Network or other rinky-dink web things, but I need you to get on mainstream talk radio, on stations that air my show, other ones, and talk about how the bankers are engineering this, how bottom line, whether they did it by design or not, they engineered it. | ||
| They did it. | ||
| And how they're bringing us into some really bad times. | ||
| And for all the governments and everybody else who's been laughing and giggling, you know, government people, look, the party's over! | ||
| We got taken! | ||
| Now, Ted sold out of the, um, almost all of the buffalos. | ||
| The government ran out of them. | ||
| They can't get the gold, literally, to make them. | ||
| Other coins the U.S. Mint makes are in short supply. | ||
| They're limiting them to, you know, one or two coins per person. | ||
| You can't get buffalos from them. | ||
| Ted has some left, but he's limiting it to one coin per person. | ||
| These are the beautiful one-ounce buffalos. | ||
| He's got a bunch of others. | ||
| Uh, even American Eagles are shooting up. | ||
| You can't get them anywhere near spot. | ||
| Uh, everything's getting a premium. | ||
| It's getting hard to get, uh, French and European francs. | ||
| Ted has them. | ||
| These are great coins right at melt. | ||
| Ted gets them before gold goes up. | ||
| He passes it on to you. | ||
| So I just briefly, at the very end of the show, before we go into rebroadcast, On the internet at Infowars.com, the podcast, then come back live on the MNFM tomorrow, or on stations across the country to re-air it. | ||
| Ted, again, people need to get into this now before it's too late. | ||
| People are going to be wishing later they'd liquidated some of their paper crap and gotten into metals. | ||
| Before it's too late, my God, it's almost already too late with what's going on in this marketplace. | ||
| People need to wake up and they need to wake up fast. | ||
| You're talking about that Buffalo coin I offered them at $9.20. | ||
| I went on eBay just to see what they're getting for these things. | ||
| The closest one that I could find, what I'm selling them for, is $960. | ||
| And most of them are up at $1,100. | ||
| That's how much they're carrying premiums in the marketplace right now because there's nothing available. | ||
| In addition to this, the franks that I'm selling right now at $190 apiece at the moment, You can't even get them in the United States. | ||
| I have to import everyone from Europe because the entire supply is so low. | ||
| Just like Peter Schiff said, man, when the regular people open up to want to buy gold, there's going to be no gold available to them. | ||
| Absolutely, ladies and gentlemen. | ||
| I only wish that I had more capital. | ||
| All the capital I've got is locked into doing this TV deal. | ||
| We're building the studio right now. | ||
| We got the bigger office in three, four months. | ||
| We got the office, moved in. | ||
| We're building it. | ||
| I'm trying to be slow on the bids to finish the studio because it's so expensive to even build a cheap one. | ||
| But we're doing that, and we're going to stay here on the air, and I'm going to dump everything I've got into it. | ||
| So that's why I buy the books, buy the videos. | ||
| I don't even plug those anymore. | ||
| That's the biggest part. | ||
| Get Truth Rising, Endgame, Terror Storm. | ||
| People are waking up and listening now like they've never listened before. | ||
| Now is the time to be out engaging the public and waking them up. | ||
| And now is the time to be protecting yourself. | ||
| Okay, so you can call and get one of the Buffalos, because Ted wants to only sell what he's got in supply, but he's got plenty of the Franks, which are in short supply almost everywhere else. | ||
| What silver do you have, Ted? | ||
| Right now, still the best buy in silver are the dimes. | ||
| Right now, they're a buck sixty per dime, or a sixteen hundred per hundred, face that. | ||
| Those are the silver dimes, ladies and gentlemen. | ||
| 1-800, give them the number. | ||
| 1-800-686-2237. | ||
|
unidentified
|
Again, 1-800-686-2237. | |
| Ted, thanks for coming on. | ||
| Retransmission on the web at one place. | ||
| Gotta go to those streams. | ||
| Theinfowars.com streams. |
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