Marc Faber: " U.S. will default on debt or enter hyperinflation "

youtube/Peter Schiff Videos ^ | February 06, 2009 | sickoflibs/CNBC

[sickoflibs]

The Peter Schiff/Redistribution Watch Ping. (Washington Bankrupting our Nation by Spending your past, present and future money!)

WHY PETER? Peter Schiff is what we need now as the articulate and witty ‘ Prophet of Free Markets’ and the ‘nay-sayer of government intervention/socialism.’ We don’t need more dribble about how we need endless bailouts and endless stimulus packages and endless debt because the alternative is too terrible to speak of. We already have the media and the party in power using public panic to gain support of their massive takeover of our property and our freedom.

You can read past posts by clicking on : schifflist , I try to tag all relevant threads with the keyword : schifflist.

Ping list pinged by sickoflibs.

To join the ping list: FReepmail sickoflibs with the subject line add Schifflist.

(Stop getting pings by sending the subject line drop Schifflist.)

[BlackVeil]

I am very afraid of a burst of hyperinflation. I see no alternative, while current policies persist.

[sickoflibs]

The Peter Schiff/Redistribution Watch Ping. (Washington Bankrupting our Nation by Spending your past, present and future money!)

Check out Zimbabwe in link above.

[Southack]

The problems with Peter Schiff are:

1. He doesn’t grasp that Money Supply = Cash + Credit, and
2. He can’t explain why Japan has seen no hyper-inflation during their 20 years from 1989 to 2009 of massive government borrowing/spending and 0% interest rates.

Which is to say: Schiff is clueless about the real world.

[hinckley buzzard]

The government has obligated somewhere in the neighborhood of seven trillion dollars in monopoly money in the immediate future and inevitably more to come. There is no way to flood the money supply to this extreme and not have escalating inflation.

[dfwgator]

Marc Faber: " U.S. will default on debt or enter hyperinflation "

Any relation to Emil Faber of "Knowledge is Good" fame?

[Man50D]

“In the US we have a new economic school called the Zimbabwe school. And it’s founded by one of the great leaders of this world, Robert Mugabe who managed to totally impoverish his own country and that is the monetary policy the US is pursuing.

The socialist are pursuing that policy along with the Cloward-Piven Strategy

[Rick_Michael]

Part of me thinks this is wrong, since every other industrial nation is experience a pinch. I just don’t know whom we’re going to borrow from in the near future. I mean China can only do so much, and do we want them to....?

[nmh]

BUMP!

[Zuben Elgenubi]

Who do you think is financing this trillion dollars? It's China. Hildabeast is going over there this week to talk about global warming, Tibetian rights and so on. The Chinese will commit to financing part of this tragedy and then tell her to talk a walk regarding Tibet, pollution and global warming.

Hope she has to stomp her little hooves over it.

[gondramB]

Dr. Doom is pessimistic? That’s a surprise.

[Lurker]

He doesn’t grasp that Money Supply = Cash + Credit,

Of which the Fed has neither, not really anyway.

He can’t explain why Japan has seen no hyper-inflation during their 20 years from 1989 to 2009 of massive government borrowing/spending and 0% interest rates.

The Japanese Government could borrow money during the 80's and 90's. That's why.

L

[UCFRoadWarrior]

The problems with Peter Schiff are:

1. He doesn’t grasp that Money Supply = Cash + Credit, and
2. He can’t explain why Japan has seen no hyper-inflation during their 20 years from 1989 to 2009 of massive government borrowing/spending and 0% interest rates.

Which is to say: Schiff is clueless about the real world.

---

#2....the Japanese economy has stunk for the past 20 yrs...there stock market has never went back to its highs of the late 80’s.

[April Lexington]

The problem with including credit in the money supply is that it is leverage. A money multiplier that is not easily controlled. Once you cross a certain point (and nobody seems to know where this point is) then it spirals and the currency tends to collapse. Think Ecuador, Argentina and Russia of late. Schiff is not G-d but he's no fool either.

[sickoflibs]

RE “The socialist are pursuing that policy along with the Cloward-Piven Strategy”,

I read about it in David Horowitz’s book “Shadow Government.”

[remaxagnt]

who runs japans money? do they have their version of the privately owened federal reserve?

[Southack]

"#2....the Japanese economy has stunk for the past 20 yrs...there stock market has never went back to its highs of the late 80’s."

Not the point. The point is that Japan has been where we are...and yet Japan hasn't seen hyper-inflation.

Schiff and Faber can't explain that . Neither can Celente. All of them stutter like a bad country singer when asked why Japan doesn't see the hyper-inflation that they keep predicting.

Don't be like them.

[Salvation]

Srock up now, then, correct?

[bluejay]

> Part of me thinks this is wrong, since every other industrial nation is experience a pinch.

You are correct, he is wrong.

> I just don’t know whom we’re going to borrow from in the near future. I mean China can only do so much, and do we want them to....?

Most of the government borrowing is coming from the private sector. All the money coming out of equities needs to go some where and it is going into government debt.

And this is a problem. As our government borrows more and more money from the private sector there is less money available for investments, and without private sector investment there is no growth. Welcome to Japan.

[Southack]

"The problem with including credit in the money supply is that it is leverage. A money multiplier that is not easily controlled. Once you cross a certain point (and nobody seems to know where this point is) then it spirals and the currency tends to collapse. Think Ecuador, Argentina and Russia of late. Schiff is not G-d but he's no fool either."

Schiff is an utter idiot, and the problem is with *not* including credit in the money supply.

When you exclude credit from the money supply, you start predicting INflation even when massive amounts of credit have been destroyed.

Anytime more credit is destroyed than there is new cash being printed, you get the opposite of inflation...you get DEflation.

Schiff doesn't know the above. Faber doesn't know the above. Celente doesn't know the above.

Celente in particular has cost his clients a fortune in bad Market calls.

They give idiots a bad name. They are dangerous to your financial health. Don't be like them.