[OTE114] On the Edge with Peter Schiff

Stacy Summary: We interview Peter Schiff.

156 comments on “[OTE114] On the Edge with Peter Schiff
  1. adampeart says:

    @petesdenizen Yup. And after the reset button is pushed the principles and attributes of libertarianism would be able to take root so that humanity could continue it’s progression. You’re right in saying the current neo-fascist corporate state cannot gel with libertarianism. That’s one reason why we strive to inspire a revolution of ideas so that one day we CAN press said button.

  2. maxkeiser says:

    adampeart

    where do you see a free market? Certainly not in the U.S.

    and if anything, the posts on this thread have only confirmed my belief that Libertarians are assholes; intellectually lazy and morally corrupt.

  3. adampeart says:

    @stacyherbert Oooh, I just noticed a typo in my previous response… I meant ‘elicit’ not ‘illicit.’ Damn this government education of mine!

  4. Mark Lytle says:

    People are getting to hung up over names. Myself, my designation has changed many times over the years to the point that I don’t know what I am, nor care. The world seems to always have more things every year that I’m ‘against’, or aghast at, and I can’t keep up.

    I think when the grocery stores go empty in a few years, no ones gonna give a rat’s backside about labels anymore..

  5. F. Beard says:

    it is why US air force pilots carry gold and silver coins with them in case they fall behind enemy lines; Stacy HERBERT

    “A pretty good weekend in Vegas”

  6. Robert Mockan says:

    Libertarians reveal a blind spot in their reasoning when they back free markets, but do not qualify that statement, by admitting that fascism is a result of free markets being taken over by corporations conducting business to expand their revenue sources, and merging with government to relax regulations on their activities, all the while utilizing free market philosophy IN THEIR INTERESTS.

  7. blindman says:

    Golden gimmick .. wiki
    http://en.wikipedia.org/wiki/Golden_gimmick
    .
    The Golden Gimmick refers to a foreign tax credit deal enacted in November 1950 by the US Government under president Harry Truman between King Ibn Saud of Saudi Arabia and the Arabian-American Oil Company (ARAMCO), a consortium comprising Standard Oil of California (Socal), Standard Oil of New Jersey (Exxon), Standard Oil of New York (Mobil) and Texaco. King Ibn Saud was being influenced by Juan Pablo Pérez Alfonzo of Venezuela who cut a similar 50/50 deal with Jersey Standard Oil and Royal Dutch Shell. This 50/50 deal accorded the American oil companies a tax break equivalent to 50% of their profits on oil sales, the other 50% was diverted to King Ibn Saud via the US Treasury. The King agreed to this 50/50 splitting of Aramco’s oil profits instead of nationalizing Aramco’s oil facilities on Saudi soil. Venezuela eventually led the effort in forming OPEC and Saudi Arabia gained full control of Aramco by 1980.
    ………………………………………………..
    The Seven Sisters
    http://www.choike.org/nuevo_eng/informes/1275.html
    ..
    ..”What came out of the discussions between Exxon and Ibn Saud is known as “the Golden Gimmick” in the inner sanctums of the Rockefeller board rooms. The American oil companies agreed to pay a subsidy to the Saudi ruler of not less than $50 million a year, based on the amount of Saudi oil pumped. The State Department would then allow the American companies to declare such subsidy payments as “foreign income tax,” which Rockefeller, for example, could deduct from Exxon’s U.S. taxes.

    With production of cheap Saudi oil soaring, so did the subsidy payments soar. This is one of the greatest scams perpetrated upon the American public. The bottom line of the plan was that huge foreign aid payments were made annually to the Saudis under the guise of “subsidies.” When the Israeli government uncovered the scheme, it too, demanded “subsidies” which today amount to $13 billion per annum — all at the expense of the American taxpayers. ” ….
    ..
    comment: ongoing

  8. David says:

    Adam
    I much prefer much choices black and white too,
    But the world is much too complex.
    And complexity is nothing but grey.
    D

  9. Mark Lytle says:

    I’ll be real curious to see if the corporations will survive hyperinflation. I frankly don’t know how German corporations survived theirs in the early 1920′s, but some of them did as that became the basis for the Nazi war machine later.

  10. Mark Lytle says:

    When I think about it, the Germans in the 1920′s had neighbors all around who were not hyperinflating, so if they did a lot of external business, they could deal with customers whose currencies were somewhat stable. The coming Hyperinflation will be partly Peak Oil derived, will be everywhere, and there will be no corporate safe havens in terms of currencies…

  11. adampeart says:

    @MaxKeiser Goddammit Max, I KNOW THERE AREN’T FREE MARKETS! What’s your point? Do you really think the current state of the markets are a result of libertarian policy? If so, who’s the deluded one? And contrary to common belief, we ‘assholes’ don’t worship Friedman, Paul, Rand, Hayek, etc.etc.etc…. we worship the idea of individual liberty, wherever it is spoken- even on MaxKeiser.com on occasion. We leave the worshiping to those imbeciles that are willing to pay twice over spot for a ‘silver Keiser.’ Oh well, at least the methods for price discovery were sound.
    I’ve been truly disheartened this week, not because you don’t agree with me and all the other amoral ‘assholes’ who frequent your site and media outlets, but because I now know you have no civility or character. And in the future please have the balls to call your libertarian guests intellectually lazy assholes to their face instead of solely relegating such admiration to we peon-masses on your website. Thanks. And despite the strong urge and inclination, I’ll leave the sophomoric insults up to you.

  12. Mark Lytle says:

    So it seems to me some of these debates will be moot in about 5 years..

  13. adampeart says:

    @ David
    Awe hell, the world is complex and gray. Why stand for anything? What’s the point?

  14. indeed says:

    I believe that the bipartisan arguments won’t change even if you have a thousand other “isms” to run for office. We are all trained that we have to go to fascism. We’ve been raised in this corrupt system from the cradle. The point is, how much fascism will allow our country to survive?

  15. ronron says:

    asking Peter to relate to global warming? he must have been blindsided. WTF? things get curiouser and curiouser around here.

  16. David says:

    You lost me Adam
    Stand for what you believe in

  17. OldEnglishGame says:

    I traded my keiser for a panda

  18. Robert Mockan says:

    @ Mark Lytle

    Big companies in Germany survived, and prospered, the same way those in the US are. When positioned to profit by it, inflation reduced their debt. Low interest rates allowed them to obtain loans to buy up competition. Just as today merging can be a very profitable way to increase the revenue stream. Well run companies that make basic necessities can survive just about anything, and the military product companies will survive anything except being in the loser country in a war. And labor, as a commodity, is easily replaceable. Gaming the system is what the Oligarchs do best. In Germany , in the US, only the surplus population will suffer.

  19. OldEnglishGame says:

    I traded my (keiser + 15$) for a panda

  20. OldEnglishGame says:

    Max
    You asked for it!!!
    Show us the list of books you have read
    Your credibility is in question

  21. OldEnglishGame says:

    Your own criteria

  22. nama rama says:

    Great feckin show.

    Personaly, I find Schiff a bit creepy.

    I met him once.

    fwiw.

  23. nama rama says:

    It’s the eyes.

  24. Waldo says:

    Max you said “without insurance there is no private property”. What??? Can you please explain – I don’t get that at all.

    I believe insurance is one of the greatest evil forces in our society. They force up the price of everything, train the population to obey the philosophy of zero tolerance (nothing bad can happen without compensation), and write the rule books that deny us our freedoms (my town won’t allow skateboarding because the insurance policy/company says they won’t cover it).

  25. YoLithos says:

    There’s a fine line between “noble savage” libertarianysm and hooliganism. And calling on the collectivity to clean up your mess. Sort of like Peter and the Wolf. Except that Peter is a wolf pelt and missing sheep merchant, who surreptitiously attracts wolfs into the village, every so often. The rest of the play is already familiar to all.

  26. OldEnglishGame says:

    Max
    You don’t have to show us the list of books you have read,
    A transcript from a
    GOVERNMENT ACCREDITED CAST RATING AGENCY
    will do.
    Then I will have complete respect and admiration for you.
    And your words will cary POWER AND RESPECT FROM EVERYONE
    HAHAHAHAHAHAHAHA

  27. OldEnglishGame says:

    My GPA was F.
    I’m quite proud of that.
    What was yours Max.

  28. jischinger says:

    @peter very funny

    Oh and btw there’s a huge Canada oil sands radio commercial campaign going on in the US
    It’s so saccharine sweet it will give you ear cancer when you hear it.

  29. Bruce says:

    Waldo | June 12, 2011 at 12:18 am |
    I believe insurance is one of the greatest evil forces in our society. They force up the price of everything, train the population to obey the philosophy of zero tolerance (nothing bad can happen without compensation), and write the rule books that deny us our freedoms (my town won’t allow skateboarding because the insurance policy/company says they won’t cover it).
    —-
    Really well-said.
    My thoughts are pretty much in line with this.

    Plus I’d sooner poke my eyes out than have to deal with an insurance company to claim, let alone pay them for the privilege.

  30. jischinger says:

    the trouble I have with Libertarians is coming to an understand of their philosophy – it changes with everyone I talk to.

  31. T. Martin says:

    Our founding fathers are more in line with communism “WE THE PEOPLE…” giving rights to the PEOPLE.

  32. Partimelover says:

    Peter, being a libertarian doesn’t mean defending every evil thing the corporations do.

  33. California Farmer says:

    great point, Max! I don’t think Peter understood what you were talking about.

    Better put……if Tepco goes bankrupt, then ultimately government will have to pay the cost of clean up! Government paying for the clean up is akin to a bailout. a bailout is not free market! this is a corporation privatizing the profits and socializing the loses.

    and you are also right about insurance! if all the insurance companies go broke, then again the government is left to clean up the mess. and if the government comes to save your property you no longer have private property!

  34. chArles says:

    My beef with Libertarians is it is an intellectally dishonest philosophy…Libertarians make a Normative claim relating any assault against property as an assault against self…then violate this normative claim they say to ensure it….i.e. see when Nozick or any of the advocates of this nonsense are called their first line of defense is “Language Games” when they encounter intellects sufficent to call this bluff….they run back to “it’s just a philosophical exercise I would accept Rawls system in the real world”…government policy shouldn’t be set by those who engage in late night circle jerks over pics of Ayn Rand and Leo Strauss
    back to the shadows

  35. Steve says:

    The last On the Edge with Peter Schiff was a flop, and keep the Pirate Myfilm of the MaxK.com site stick to the economy,

  36. Mini US says:

    Obviously corporations should just make as much money as they can, not pay any tax, pay their workers as little as possible and take absolutely no responsibility for the side effects of anything they produce.

    Oh, this is ALREADY what happens you say?!

    Hmmmm. Right, good. Hmmmm

    Piss off!

  37. Mini US says:

    Schiffy seems to be the economic Charles Darwin.

  38. The big issue I have with libertarianism is how to make corporations responsible for their actions. I think Max question regarding the JAP nuke accident is pertinent. Corporations enjoy externalizimg costs to the public as well as taking from the commons without commensurate compensation to the rightful owners.

  39. Mini US says:

    And without government corporations wouldn’t want a law suit.

    Are you kidding me?

    Who is going to sue the multinationals?

    Erin Brokovich?

  40. peter says:

    @STACY
    Cernobil -> government ->disaster
    TEPCO->private->disaster

    So, no conclusion?!

    The problem is inside (Cernobil and Tepco). And everywhere!

    I work for oil giant. Here is not a single engineer that can solve simple high school math problem. If you talk about it you will get answer: “But, you dont need it here”

    hahaa

    It is more important to be member of Association of Engineers, a talk about business, safety, go to meetengs and so on… Anyway if you try to deal with technical problems you will become a GEEK

  41. MrJones says:

    Great job Max! Specially the last bit were you put him on the spot. I liked the expression on his face at the end when he was leaning back. It was like, what just happened to me.

    And to say the founding fathers were all libertarian is false. No mention they were against the accumulation of wealth and power.

    Libertarians have yet to come up with a convincing argument on how corporations will not kill us off for profit. They have yet to explain how the market will keep our water clean, our air pure, our food safe from E coli. I just can not visualize a CEO in Nebraska giving a shit if he poisons me in Minnesota with tainted meat in order to increase his profits. The idea that the fear of a law suite will keep them in line is ridiculous. It is Utopian. They’ll just run and hide as Max pointed out.

  42. MrJones says:

    @Stacy From reading a couple Thom Hartmann books I believe corporation were granted 1 to 5 year charter. At least in the early years.

  43. Mike says:

    Listen to me !
    Peter Schiff, Jim Rogers, Marc Faber and all the other countless economic “experts” are totally ignorant to what is really going on. They are ALL making the mistake of utilizing past education instead of current information when evaluating the current economic crisis.
    Listen to me ! I am more accurate than these bozos.
    These economists are all tooting the same horn of economic incompetence by the Fed and “America” as if this crisis was and is due to consistent mistakes being made over the past decade. WRONG, WRONG, WRONG…….. WRONG.
    These clueless economist or investment advisors are not incorrect for the most part in what they say…….. They are all just gravely mistaken as to the reasons WHY !!!
    This crisis is a long term deliberate agenda by the people owning and controlling all aspects of the USD and Euro, Pound, Yen and god knows how many other currencies. There is no separation to these powers controlling these currencies, they are coordinating as one. This conglomerate answers to NO ONE on the globe, has supersede all governments and has the total partnership of most of the elite governments of all the first world nations…. particularly the United States in total partnership and direct collusion. THIS IS FACT, if you doubt, you are not up to the curve in your research.
    ALL presidents since Nixon have been in direct partnership with the people controlling the USD and in total participation in creating a one world currency by way of global financial collapse through collapse of the Dollar and Euro (The Euro being first and the USD to follow within weeks by mid 2013 latest and most likely 2012).
    EVERY ONE OF THESE “EXPERT” economist’s are idiots when it comes to WHY this collapse is occurring and most of them totally mistaken this deliberate long term plan of collapse as being the result of ridiculously stupid decisions instead of the real truth…….. The collapse is deliberately planned by the most intelligent, hard working (24/7) and most powerful people on the planet. The countless obvious activities of QE, Bailouts, Etc.,etc.,etc., to near infinity…… is deliberate and for their benefit. The conglomerate is after the holy grail of power…. a one world currency. Acquiring it will mean that no one will be able to remove them from power and it will GUARANTEE their ability to create and control a one world governing body which is already in place through all of their currently owned and controlled organizations which they themselves have put into existence….. The UN, IMF, WTO, WHO, CFR and on and on and on and on.
    The economists of today are just plain stupid as to what is really going on. They are spending too much time utilizing all the past methods of evaluation and NONE of them apply today….. and haven’t for decades. There is NO free market of ANY kind. Period. End of discussion. EVERYTHING is being either totally manipulated or hugely influenced for the single purpose of agenda. All these economists have been misdirected and conned as has the world for more than 50 years. Only people such as you and me who spend hours daily over years researching only on the internet in all the numerous areas to piece the crisis puzzle together are up to the curve of truth. The rest are useless idiots with nothing important to say like Schiff, Rogers, Faber…. etc etc etc etc
    Mike King

  44. YYZ says:

    WikiLeaks Documents Hint of Slick Plans for Arctic Oil
    Leaked documents reveal multinational behind-the-scenes maneuvering efforts for control of Arctic oil fields instead of focusing on publicly stated goals to reduce greenhouse gas emissions.

    http://www.insidescience.org/policy/wikileaks-documents-hint-of-slick-plans-for-arctic-oil

  45. bammbamm says:

    Schiff is wrong about interest rates and “savings”. I don’t save money to earn interest; I save money to buy something without having to take a loan out to buy it. He’s confused by his usurious mentality. Life isn’t about lending money and earning interest. You work, you save, you buy something and give it additional value. To hell with interest and usury and interest rates. It means nothing to me, or to most average people.

  46. Robert Mockan says:

    @ Mike

    You are talking to the choir here. And you may be underestimating the economists you name. They Google also. There are big names in the alternative media that every body reads and listens to. For example, there is Bill Murphy at http://www.lemetropolecafe.com/, John Williams at http://www.shadowstats.com/,
    Paul Craig Roberts at http://www.lewrockwell.com/roberts/roberts-arch.html,
    Gerald Celente at http://www.trendsresearch.com/index.php, all of the alternative media sources at http://www.blacklistednews.com/, and much more.
    I recall Jim Rogers saying once, he avoids talking about subjects that listeners might think are just conspiracy theories, because unless they learn about it on their own they are not going to believe someone else. And he adds, they should do the research themselves.

  47. Robert Mockan says:

    47.

    @ Mike

    You are talking to the choir here. And you may be underestimating the economists you name. They Google also. There are big names in the alternative media that every body reads and listens to. For example, there is Bill Murphy at http://www.lemetropolecafe.com/, John Williams at http://www.shadowstats.com/,
    Paul Craig Roberts at http://www.lewrockwell.com/roberts/roberts-arch.html,
    Gerald Celente at http://www.trendsresearch.com/index.php, all of the alternative media sources at http://www.blacklistednews.com/, and much more.
    I recall Jim Rogers saying once, he avoids talking about subjects that listeners might think are just conspiracy theories, because unless they learn about it on their own they are not going to believe someone else. And he adds, they should do the research themselves.

  48. jag37777 says:

    Supply side nuttiness. Schiff lost sanity long ago.

  49. gman says:

    Environmental costs incurred by government happen when for example a mine pollutes the drinking water of a town, the mining company either lawyers up and drags any litigation on for years or declares bankruptcy. Either way the profits from the operation are squirlled away while the towns folk get sick and die and are fighting the health insurers. Eventually there may be a cleanup, but the perpetrators are long gone. The corporate model of exploiting the land and the people who live on it is the same used by a stereotypical Attila the Hun “Eat it or Fuck it”. All the costs for our resource extraction will never see the light of day because taxpayers would outraged by the inequality of the cost burden.

    Libertarianism is another intellectual exercise to keep the status quo in place and keep the people herding quietly.
    ————————————————————————————————————–

  50. OldEnglishGame says:

    @gman
    Libertarianism is another intellectual exercise to keep the status quo in place and keep the people herding quietly.

    Well sed
    The entire academic community
    Their product is escape plans, that if implemented would remove their demand.

  51. OldEnglishGame says:

    A captive audience

  52. hgh says:

    Libertarianism is overated ideology of the 19th century that does not even know that someone like Pigou existed. Max shows its intelectual failure from the point view of the old, good welfare economics. What really Peter Schiff adresses are properity rights. I always ask (uasually young) libertarian who invented them and they don’t know. Their rationale of the last resort is always … morality (it still lacks the place for it in the empire of freedom and free will:). The libertalianism is always the same old Austrian (read: aristocratic derived from landowners perception) ideology, very reactive in its true meaning with no answers for the future whatsoever.

    Thank you Max, you show where intelectual capabilities are.

  53. OldEnglishGame says:

    @HGH
    Evolution = futuristic
    Liberty = wild
    Evolution = wild

    Darwin was a great LIBERTARIAN economist.
    The founder of Marginalism
    EXTREEM FUTURIST

  54. MarkD says:

    I wouldnt mind hearing Max crossex George Phillies on environmental issues to see what common ground there is with a libertarian who admits global warming.

  55. Terry says:

    The problem of identifying and resolving the detrimental effects of industrialisation by proponents of libertarians is caused by current non libertarian thinking with reguard to property rights. Today the normal process of restitution has been short circuited by governmental regulation with entities like the E.P.A who take the rights away from the person who has suffered loss. Had these entities like the E.P.A maintained the spirit of their advertised purpose then we might still have been able to use them to extract restitution from ventures that have caused our loss.
    This concept of restitution is now remote because govenment agencies have become captured by the entities they are supposed to monitor effectively becoming, in the case of the E.P.A, printers of licences to polute at the expence of the victim.
    Goverment is now correctly identified as the cause of the problem because they don’t facilitate the corrective action as desired by the victim and protect the polluter behind a shield of government licence.
    I’m sure that Peter would have offered something similart to the above had Max termed the question more clearly.

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