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Thursday, May 14, 2009

Latest Peter Schiff Video

Here's the latest Peter Schiff commentary. He posts about once a week.He touches on a number of subjects including the most recent projections about the insolvent Social Security scam.

He also remarks about the new Obama propsal to create a "Blue Ribbon" panel to examine the causes of the financial crisis. The conclusions of this panel are not in doubt-- will they blame the Federal Reserve or Fannie and Freddie or a whole host of other government policies? It's not likely. Mostly, the real purpose is to embed the myth that most "experts" agree with Obama's policies and his conclusion that the "market has failed".

Schiff points out that this is total bull. There were in fact a large number of people who saw something like this coming, such as Peter Schiff, Ron Paul and most of the economists knowledgable about Austrian Business cycle theory. Not all of them predicted the exact timing of the collapse but a few did. Anyway, there is almost no chance many of these folks will be asked to be on the panel-- although one may, just for show.

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