[KR383] Keiser Report: Crazyflation (ft. Peter Schiff)

We look at the the central bank revolution that will end in disaster with Japan leading the way after voters have demanded even more aggression with the nation’s monetary policy. They also look at Moody’s ratings getting no respect because nobody has done better than flipping a coin for 50 years in a slow burning prison. In the second half, Max Keiser talks to Peter Schiff about bonds, dollars and governments buying their own debt.



PETER SCHIFF TAKES MICHAEL MOORE APART

Moore’s film, “Capitalism: A Love Story” was a wasted opportunity. If he had exposed derivatives like he did Charlton Heston in “Bowling for Columbine” the film could have scooped and exceeded “Inside Job.” But as you can see in this video by Schiff, Moore is completely out of his depth when talking about markets, capitalism, finance and economics. I visited with Moore at Cannes when BFC was in competition (winning that year). I tried to get him on board with Karmabanque tying boycotts to short-sales and activism but he couldn’t get past the idea that anything remotely touching Wall St. in any way had to be avoided at all costs. Shame. It’s a huge blind spot by most activists. Fortunately groups like UKuncut and ‘Debt Strike’ get it and are moving in this direction.

150 comments on “[KR383] Keiser Report: Crazyflation (ft. Peter Schiff)
  1. Gregers Werle says:

    @Wolferl

    Right you are. In a sense Germany needs a different niche to low cost production and cheap labor. So far, they’ve done well with selling quality over quantity just look at the Leica camera company. Korea is the main competitor now with Japan lagging behind, you’re right. Slowly Germany will build partnerships in the East without Anglo interference, just like with Russia.

    The Germans have a large network of small and medium sized businesses that operate in hyper-specialization, generally manufacturing. These companies are usually quite pliable since they’re not giant corporate behemoths.

  2. David Liberty says:

    Interesting video on …
    This Is How The Banksters Took Control Of You!!!

    http://www.youtube.com/watch?feature=player_embedded&v=ixurN0e5oo4

    Seems ZIRP is the weapon of choice today, as a Vampire army of banks bleeding the world to destruction

  3. Brady says:

    Too bad every time you guys get close to identifying the head of the snake your answer is fraudulent. You instead name government,( the intestines of the snake ), or some other scab on the snakes genitil area such as BenBernankie; but no one bothers to identify the link between the actual chain of command, perhaps because the truth sounds like a far fetched conspiracy theory. The true chain of command is so subversive and diclectic, that even the black pope may have a superior. The Pope is the figurehead of the Snake, the Jesuit general is the Popes confessor and superior, but both are elected by electors, and following the chain of command is confusing. Its hard to believe that a group started by the homo son of Edward Longshanks, the order of the bath, could play a part in ruling the world. After all it was just a weakling and his thirty six gay companions trying to recreat the round table. And Queen lizard is heard saying to Prick Charles,( know you are my Lord) as she named him head of the Red Dragon Society. We hear the occasional mention of free masonry or the builder burgers, or skull and bones and the perfectables now known as the order of the illuminati, but now one ever pionts out Adolpho Nicolas, or his budy Ratzinger the former head of the inquisition and current poop Benedict. Interesting name change from Ratzinger to Benedict; I guess it looks better than a fourth rise of the Roman Empire under the leadership of Adolph and Ratzinger. The Jesuits and the counter reformation by Proffessor Walter Veith will give you some info as well as secret societies and hidden agendas from the total onslaught series, but no one seems to have a comprehensible account of the various links between government and the actual chain of command.

  4. Brady says:

    Stacy: The change that will hapen only after total caos sounds like the old plan of Albert Pike and Mazzini for 3 world wars and a resultant one world government. Unfortunatly the rebirth you talk of will be worse than the caos because human beings are inteligent and knowlegable, but we are unable to aspire to wisdom without accepting the spirit of wisdom; this is why a man is the only creature to destroy a forest and turn over a mountain to see what is under it. Foolishness is the mainstream. Despite Knowledge and inteligence we will continue a course of the demise of the individual in favour of the rise of the collective until we get a parental intervention to point us back to wisdom.

  5. someoneionceknew says:

    You’ve gotta hand it to Schiff. He manages to sound like he believes what he is saying.

    It would be scary if he really did believe it.

  6. Bruce says:

    Gregers,
    yeah Ausralia is a tiny market. Total agreement about being swallowed. We make almost nothing here too.

    Wolfers,
    Good info.

    Speaking of high-end industrial machinery, Perth Mint in Australia uses German stamping machines for its gold/silver coins.
    Perth Mint’s New Coin Press Delivered Through The Roof! – YouTube

  7. Al Kyder says:

    @ naxkeiser & stacyherbert

    I has a problem.

    If Japan attempts to devalue its currency then how will it pay for raw materials / commodities?

    This is a very interesting problem for Asia. We dont really care about the USA what we care about is where China, India and Japan are going to buy commodities. Russia, Central Asia, Australia or possibly Sth America like Argentina.

    If Japan devalues before stocking up on these commodities they will be committing financial Seppuku.

    If the value of their money goes down, then cost of production will rise. They will not get away with manipulating the currency markets either. Asians are wise to that one.

    We need to cover this tension between China and Japan more closely, and avoid any western perspectives from clouding the waters.

    Japan will not attack China militarily, but China may use Nth Korea as a proxy to start a war. The terrain in that country is similar to Afghanistan, and it is a trap for the USA. Getting the US bogged down in Korea will be a great victory for China.

  8. Al Kyder says:

    @ Wolferl~ S.Korea has very strong Labour Unions, I would be cautious about that. Japan has its own internal market for stuff too. They get the coolest toys over there that we never see anywhere else.

    Germans on the other hand are more flexible. Take these things into account.

    I am guessing that Siemens are just squeezing the workers. Tell them to F’off.

  9. Bruce says:

    Brady,
    if I ever have kids and they do something naughty, guess what’s coming out? Yes, a pic of this:
    File:Benedykt XVI (2010-10-17) 4.jpg – Wikipedia, the free encyclopedia

    That ought to set them on the straight-and-narrow (or give them nightmares long into adulthood).

    PS. totally agree it goes further than what’s discussed here, but I suspect going further in a short finance show would be going one too far for many people. Maybe Max and Peter both know this, though I don’t purport to speak for them at all.

  10. Brady says:

    Bruce thanks for the link. Al kyder : any war is an agreement between governments and above governments to downsize particular segments of their population, the politics are a phasad for the goyum, caticumin I dont know theres no spell check here.

  11. Youri Carma says:

    @Al Kyder

    So funny how Americans constantly worrying about who will start the next war while they’re the ones who started wars for the last 70 years or so.

    With which I am not suggesting that you are an American but if you are I am not talking about you but that’s just something you made me think of trough your comment.

  12. Youri Carma says:

    Just because it’s too fuckin witty funny!!!

    The Awesome Steve Hughes! Live at the Apollo! (FULL) http://www.youtube.com/watch?v=hENYJQ62Aws

    Steve Hughes @ Cracker Night 2011 http://www.youtube.com/watch?v=0dTg4RlxsTE

  13. Youri Carma says:

    Marc Faber Trolls CNBC Shills Over Fiscal Cliff Optimism, Warns of Massive Market Meltdown http://www.youtube.com/watch?v=IXW5g7PhbTE

  14. Youri Carma says:

    GM crops promote superweeds, food insecurity and pesticides, say NGOs
    Report finds genetically modified crops fail to increase yields let alone solve hunger, soil erosion and chemical-use issues http://www.guardian.co.uk/environment/2011/oct/19/gm-crops-insecurity-superweeds-pesticides

    Volcano erupts on Chile-Argentina border https://www.youtube.com/watch?v=-74oLk9CeaU

  15. kdt says:

    @susan wrong shiff famly

  16. Youri Carma says:

    Gold Discovered In Massive Amounts On Mars, UFO Sighting News, Dec 21, 2012 http://www.ufosightingsdaily.com/2012/12/gold-discovered-in-massive-amounts-on.html

    Is this the gold the Annunaki took from earth in a attempt to save the planet?

  17. Bruce says:

    Youri,
    Earth gold is so yesterday. Gimme some of that exclusive Mars Gold!

  18. Youri Carma says:

    @Bruce

    Yeah, so are combustion engines if you have ant-gravity technology. And what about trains? They’re so 19th century with all the screeching and peeping of that steel on steel. Really makes me feel I live in the past instead of the future.

  19. Youri Carma says:

    It’s Not a “Fiscal Cliff” … It’s the Descent Into Lawlessness http://www.washingtonsblog.com/2012/12/its-not-a-fiscal-cliff-its-the-descent-into-lawless-anarchy.html

  20. MirrorMirror says:

    .
    @Vonda &Youri … ENJOY !!

    Dr. Wolfgang Thuene – THE CO2 FAIRY TALE :

    Dr. Wolfgang Thuene – Das CO2-Märchen – Auszug
    http://www.youtube.com/watch?v=ekHI5DfTf08

    Excellent Interview …. makes the CO2-Lobby & AGW look ridiculous … which it is.

    .

  21. Flopot says:

    *************BAD JOKE ALERT***************

    ************LAST WARNING*****************

    Fiscal Cliff

    http://www.youtube.com/watch?v=npcwtKAcrTM

    http://www.youtube.com/watch?v=m_VAQHlAXos&playnext=1&list=PL19255F8DB0D471EC&feature=results_main

    Get it? Fiscal…Cliff…ah forget it :P The search for bad puns will continue…

    ************OFFICIAL APOLOGIES**************

    ************BUT XMAS IS DRIVING ME F**KING INSANE**************

  22. Flopot says:

    On reflection, that joke is not only bad but truly evil, given the links.

  23. MirrorMirror says:

    .

    CNN Interview – Piers Morgan versus 2nd. Ammendment :

    http://www.zeit.de/gesellschaft/zeitgeschehen/2012-12/waffenlobby-petition-cnn-moderator

    Morgan calls Mr. Pratt “stupid individual” ….
    … Petition being signed by lawyers to get him sent back to the UK.

    .

  24. Hugh Beaumont says:

    “As for Hitchens’ last words: On his last day, Hitchens tried to write something by hand, but could produce only scribbles, so said “What’s the use?” and fell asleep. A couple of hours later, he woke up and said, “Capitalism. Downfall,” repeated the words upon request, and died a short time later, writes Andrew Sullivan at his blog The Dish.”

    http://www.newser.com/story/144510/hitchens-last-words-capitalism-downfall.

  25. Hugh Beaumont says:

    I don’t understand economics (at least, as taught), but there are a lot of questions that aren’t being asked. For instance, at what point will the money supply be so great that a dollar will look like a penny? Everyone says the end is near, but no one can quantify the amount of phony money that needs to be issued in order to trigger, say, China dumping US treasuries. OK, they need us to buy their stuff. Then when will Wal-Mart start to look like a Neiman-Marcus (as PCR put it) pricewise? People were buying everything on home equity loans 6 years ago – that money’s gone. But now people aren’t paying their mortgages, but are buying cars with the extra money. Maybe this “cliff” is ten years off.

  26. Mother Earth says:

    I’d have to disagree with Schiff, he is not talking about capitalism, not in the present zero interest environment. What Schiff is thinking about is the romantic idea of resources saved to be applied by a person of judgement towards creating wealth and perhaps profit. In reality it’s about printing money, applying the oil perogative towards an end and hoping the waste is not noticed (burned carbon). The only goal of modern capitalism is profit, because that guarantees people will need future capital.

    Schiff implies that Moore would not do well in romantic capitalise society, which is what he advocates. I think he would, and that means he is not part of the curse of carbon capitalism. Art is anything people don’t want to throw away.

    Since Schiff tried to be in congress het lost his edge.

  27. JonnyJames says:

    Two hypocrites debate, how lovely. I have little use for either of these ideologues.

  28. JonnyJames says:

    This is pretty funny. I bet you can’t read this article without laughing or screaming.

    Fed Flummoxed by Mortgage Yield Gap Refusing to Shrink
    Qhttp://www.bloomberg.com/

  29. swell says:

    PS, the bête noire poster boy

  30. Max and Stacy;

    Thank you so very very much
    for finally
    MISHing the MACH in the YAP for me

    Franz

  31. Frans says:

    Oh! So capitalism brought us Walmart: oh nice!
    http://www.youtube.com/watch?v=tXPXbAG5u2E

  32. Bob says:

    Us peons live and work in the land of real capitalism, where it’s the survival of the fittest. But once we get that paycheck, we have no choice but to deposit it or invest it in the land of crony capitalism, where the upper class does not have to face risk and even gets their own laws. If Schiff doesn’t know or understand that it just makes him look like a dumbfuck. Manipulated markets, central bank management, QE, TBTF, and TBTJ are not examples of capitalism, but TOTALITARIANISM and FASCISM.

  33. microhousehold says:

    Royal Babylon by Heathcote Williams (rough cut)

    http://www.youtube.com/watch?feature=player_embedded&v=jIukrdRhnpw

  34. MrJones says:

    Who posted bail for Julian Assange. Oh, that’s right It was Michael Moore, he posted bail for Julian Assange. Moore and Ken Loach lost about $317,130 on Assange’s bail. That is something Schiff would have never ever done because just listening to him you can tell he is one frigging tight ass. Let freedom ring.

  35. Terry says:

    On the second video posted: Schiff(no relation to the bankers)clearly demonstrates that true capitalism harnesses greed for service to mankind. Seems logical to me.
    Ron Paul claims competition, especially in currencies, promotes systemic stability by forcing the maintinance of quality and value. Seems logical to me.
    Bill Black says failure to maintain the rule of law by the failure to prosecute crime leads to more crime. Seems logical to me.
    Logic and truth they do seem to go hand in hand.

  36. Vonda Bra says:

    yeah, hypocrites!
    Piers Morgan – on purpose! paid media whore par excellence!
    and Michael Moore (+ very unsophisticated ideology? essence LEFT – but sophisticated as a capitalist himself!)

    Peter Schiff?
    capitalism is about competition – right!
    but driven foremost by greed???? .. in general (wether government or private sector …)
    you got it completely wrong, Mr. Schiff!!! Shame on you!

  37. Youri Carma says:

    Happy X-Maz Ya’ll

    Enjoy your GM turkey ;)

    Illegal imports of genetically engineered maize into the EU? http://testbiotech.org/en/node/753

  38. Youri Carma says:

    Chris de Burgh – A Spaceman Came Travelling http://www.youtube.com/watch?v=GmZg7tvGN9o

  39. John Drinkwater says:

    Capitalism, the way Schiff defines it, has never existed. It only exists in theory. Societies in the 18th and 19th centuries were no more ‘capitalistic’ than they are now. They were cartel economies run by banks and robber barons. Marx didn’t call western countries “bankocracies” for no reason. Schiff appears to be completely ignorant of the history of capitalism.

    Moore is ignorant also. Like Schiff, he has a romanticized view of history, based on an absurd notion that there was a time in history when economies run, more or less, well. Moore is correct that the US economy was more egalitarian 50 years ago than it is now, but if we live in a capitalist society now (as he insists) than we sure as hell lived in one 50 years ago also. The fundamental aspects of the economic system are the system. It was a form of ‘state capitalism’ then just as it is now.

    Modern economies everywhere both historically and currently have been state capitalist run. There’s never been a real free market society. The State created the capitalist mode of production. Even the Soviet Union was state capitalist. Just as “Communist China” is state capitalist.

  40. Hugh Beaumont says:

    @John Drinkwater – thumbs up!

  41. Michael Moore gave me one of the best investment tips i ever got; he said “buy Tungsten” ….. then shortly after I bought a bunch of Tungsten, Uncle Ben and the FED bought all my Tungsten for triple what I paid!

  42. Paolo says:

    I dont see shopping at Walmart as being asset investment by those receiving bailouts, and as far as the source of the problem goes its not simply government but the greed generated by the synthesis of lobbying, government and corporations/finance. I wish Max had been a little more combative here

  43. Wouter Drucker says:

    Look Peter Schiff, I am greedy as well. I want a life of abundance, with no worries, the best food and the best wines, every single day, push a button and there is my south African 3 star food.

    I am an entrepreneur as well. My business plan is to unite the whole world and run it as a single business. You do this, you do that, you get the resources, you come up with the designs.

    And as of this moment, it is YOU Peter, who is saying ‘you can’t do that!’ (we are supposed to compete). You are that dictator that is holding up progress.

  44. MirrorMirror says:

    .

    @Wolferl ….. As I have always said here … “Strong Germany” is political propaganda :

    Sarah Wagenknecht ( far left ) speaks about the “Real Economy” in Germany …

    http://www.youtube.com/watch?v=u4HKstiZvkw

    10 mins

    A a lonesome voice of truth in German politics .

    .

  45. Flopot says:

    @John Drinkwater

    Nice post.

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