The latest from Peter Schiff thread.

nikoloslvy

I wear my sunglasses at night...Anyone want fries?
Donator
May 5, 2003
4,937
121
753
#1
The latest from Peter Schiff thread.

[video=youtube;lCQ_N9wj41Q]http://www.youtube.com/watch?v=lCQ_N9wj41Q[/video]
 

nikoloslvy

I wear my sunglasses at night...Anyone want fries?
Donator
May 5, 2003
4,937
121
753
#2
[video=youtube;ai1XpMw6-qI]http://www.youtube.com/watch?v=ai1XpMw6-qI[/video]
 

nikoloslvy

I wear my sunglasses at night...Anyone want fries?
Donator
May 5, 2003
4,937
121
753
#3
This was how Peter's father, who is doing a Wesley Snipes bid in the pen answered the Robinson Crusoe question.

[video=youtube;bFxvy9XyUtg]http://www.youtube.com/watch?v=bFxvy9XyUtg[/video]
 

nikoloslvy

I wear my sunglasses at night...Anyone want fries?
Donator
May 5, 2003
4,937
121
753
#4
[video=youtube;ai1XpMw6-qI]http://www.youtube.com/watch?v=ai1XpMw6-qI[/video]
@14:15

peter: " You don't see anything wrong with a trade deficit?

Guest: "No".

Peter " Heh wait...what about a budget deficit."

guest: "Not really blah blah blah raise taxes".

Great exchange in the following minuets.
 

Chino Kapone

Yo, whats wrong wit da beer we got?
Jun 10, 2005
16,959
2,196
608
#5
Love Peter. Who is the guy @14:15? He sounds pretty ignorant.
 

Neckbeard

I'm Team Piggy!
Donator
Oct 26, 2011
24,894
15,267
303
#6
I liked some clips I have heard of him and I am grateful that he put out Austrian style thinking and beautifully nailed the global, multi-trillion dollar exercise in deliberate stupidity and swindling that the housing and mortgage and derivatives crisis turned out be. Even though he could be Anthony Cumia's neighbor, he is fine.

I think my favorite exchange when he was warning just how deep in the shit the entire financial sector was. He was telling people to get into metals and durable goods and out of anything in America or related to the CDO fiasco and Ben Stein was arguing against him. "MERRILL LYNCH IS SO CHEAP IT IS LIKE THEY ARE PUTTING IT IN BREAKFAST CEREAL BOXES!" Right after that a guy starts flogging Bear Stearns when it was 120 bucks a share.

[YT]FsrNorMK6QM[/YT]
 

Neckbeard

I'm Team Piggy!
Donator
Oct 26, 2011
24,894
15,267
303
#7
The professor in the second video is a statist lunatic. He wants 3 separate taxations, local and state and federal, on corporations and businesses that would lead to a 76 percent tax rate.

Peter Schiff is pretty good to point out how high tax rates really are. I agree with closing some loopholes, which defraud America out of hundreds of billions in taxes, but paying a 35 percent rate and then asking for that to be higher, and then having further taxes on that, is insane.
 
Jun 2, 2005
15,516
4
0
Dallas
#8
The professor in the second video is a statist lunatic. He wants 3 separate taxations, local and state and federal, on corporations and businesses that would lead to a 76 percent tax rate.

Peter Schiff is pretty good to point out how high tax rates really are. I agree with closing some loopholes, which defraud America out of hundreds of billions in taxes, but paying a 35 percent rate and then asking for that to be higher, and then having further taxes on that, is insane.
A loophole, by definition, is not fraud.
 

Neckbeard

I'm Team Piggy!
Donator
Oct 26, 2011
24,894
15,267
303
#10
I guess I wasn't using the precise legal term, thanks for getting on, you tough cookie you. But you don't think the Cayman Islands thing and the "Oh, we made a bunch of money overseas, but all of our American divisions 'lost money' so we need to get money from the American government" stuff isn't fraud?

By the generally accepted meaning of...

deceit, trickery, sharp practice, or breach of confidence, perpetrated for profit or to gain some unfair or dishonest advantage.
 
Jun 2, 2005
15,516
4
0
Dallas
#11
Again, you simply don't understand what you're talking about.

When a company operated multi-nationally, and it costs them money to operate in a country, they actually are either entitled to show a loss in that country, or they have the option to not do business there. As much as liberals like to say that a free market society can't work, the world economy is the very definition of a free market. Trust me, you would rather GE show a net loss in the US and receive tax benefits than to choose to stop operations here all-together because the political climate makes it impossible to be profitable.

And none of these concepts have anything to do with Switzerland or the Cayman Islands. That's closer akin to individual money laundering or tax evasion, nothing to do with corporate taxes.
 

Neckbeard

I'm Team Piggy!
Donator
Oct 26, 2011
24,894
15,267
303
#12
Christ almighty then, Corporate Tax Evasion. Are we now happy?

Whatever, even if the government collected it it would wind up being squandered on some total irrelevancy and malinvestment. I am just saying that the corporate tax code already has so many built in flaws that say, 70 percent of foreign companies in America pay no taxes to America, General Electric is one of the most successful and profitable business and not only does it not pay American taxes it gets tax refunds and rebates and credits, etc.
 
Jun 2, 2005
15,516
4
0
Dallas
#13
No, we're not happy, because it's not fucking tax evasion. There's NOTHING wrong with a national government giving a multi-national company tax benefits to prompt them to do business in their country. It's a necessary benefit or the companies will refuse to do business there.

Think about it, If you were equal driving distance to 2 different grocery stores, and you sold something, say bread, and store A wanted to charge you $500 a month to rent shelf space, and you were only going to sell maybe $400 worth of bread, but store B would give you the shelf space for free since you were providing a service to their customers, again, selling $400 worth of bread, would you even fuck with store A?

It's not tax evasion. It's free market economics in it's purest form, and until people wrap their fucking brains around it we're all fucked. Your emotions can't will something not to exist that just plain fucking does.
 

whiskeyguy

PR representative for Drunk Whiskeyguy.
Donator
Jan 12, 2010
36,347
21,959
398
Northern California
#14
Christ almighty then, Corporate Tax Evasion. Are we now happy?

Whatever, even if the government collected it it would wind up being squandered on some total irrelevancy and malinvestment. I am just saying that the corporate tax code already has so many built in flaws that say, 70 percent of foreign companies in America pay no taxes to America, General Electric is one of the most successful and profitable business and not only does it not pay American taxes it gets tax refunds and rebates and credits, etc.
You have no fucking clue what you're talking about. Tax evasion is illegally avoiding the payment of taxes. Tax loopholes are legal measures corporations and individuals can take to reduce their tax payments. Two very different things. I agree the tax code needs to be simplified, but companies that take advantage of loopholes are still operating legally.

Another thing you know nothing about... GE DOES pay taxes, and a lot of them. They paid no corporate income taxe in 2010 because they had overpaid the previous decade and had a credit with the IRS. All other business taxes were still charged, including capital gains tax to the owners of GE.
 

Neckbeard

I'm Team Piggy!
Donator
Oct 26, 2011
24,894
15,267
303
#16
Okay, back to Peter Schiff...

I think he had a great thing about Iraq and Afghanistan, and it explained how Keynesians and people like Krugman love war because it "drives demand" and is great for economies or whatever.

The only thing is, people get psychologically damaged and physically hurt and maimed and tortured and there are all these icky rubble piles and corpses all over the place. Bummer.

So Krugman takes a page out of sci fi novels and says...

"The entire world could prepare for a non-existent alien invasion threat, and this would be good for the economy."

[video=youtube;fyW-o-Pr92M]http://www.youtube.com/watch?v=fyW-o-Pr92M[/video]
 

nikoloslvy

I wear my sunglasses at night...Anyone want fries?
Donator
May 5, 2003
4,937
121
753
#17
I liked some clips I have heard of him and I am grateful that he put out Austrian style thinking and beautifully nailed the global, multi-trillion dollar exercise in deliberate stupidity and swindling that the housing and mortgage and derivatives crisis turned out be. Even though he could be Anthony Cumia's neighbor, he is fine.

I think my favorite exchange when he was warning just how deep in the shit the entire financial sector was. He was telling people to get into metals and durable goods and out of anything in America or related to the CDO fiasco and Ben Stein was arguing against him. "MERRILL LYNCH IS SO CHEAP IT IS LIKE THEY ARE PUTTING IT IN BREAKFAST CEREAL BOXES!" Right after that a guy starts flogging Bear Stearns when it was 120 bucks a share.

[YT]FsrNorMK6QM[/YT]
Betterer longer version.

[video=youtube;2I0QN-FYkpw]http://www.youtube.com/watch?v=2I0QN-FYkpw[/video]
 

nikoloslvy

I wear my sunglasses at night...Anyone want fries?
Donator
May 5, 2003
4,937
121
753
#18
[video=youtube;eKokSItjeKk]http://www.youtube.com/watch?v=eKokSItjeKk[/video]
 

nikoloslvy

I wear my sunglasses at night...Anyone want fries?
Donator
May 5, 2003
4,937
121
753
#19
From the guy who never lets any pro Schiff comments on his page.
[video=youtube;VpK51pWg5HY]http://www.youtube.com/watch?v=VpK51pWg5HY[/video]

Funny how he labels this video "CNBC laughs at Peter Schiff". Hey stupid, they laughed at him in 05,06 etc as can be seen in videos posted in this thread.
 

nikoloslvy

I wear my sunglasses at night...Anyone want fries?
Donator
May 5, 2003
4,937
121
753
#20
[video=youtube;KLW4bfSAbVQ]http://www.youtube.com/watch?v=KLW4bfSAbVQ&feature=g-u[/video]
 

domelogic

Registered User
Feb 16, 2005
11,378
2,793
631
Center Valley, Pa.
#21
I might be wrong but why does it seem Peter brings the most common sense to a conversation. And why is it so hard for people to cut debt and let things play out? The guy just makes so many valid points.
 

The Godfather

Spark it up for The Godfather and say!!!!!
May 9, 2007
11,256
10
163
#22
[video=youtube;iJGNaDii_n0]http://www.youtube.com/watch?v=iJGNaDii_n0[/video]

this is pretty brilliant
 

nikoloslvy

I wear my sunglasses at night...Anyone want fries?
Donator
May 5, 2003
4,937
121
753
#23
Isn't the president the president of all the American people? Didn't we invent our system to protect the minority from the tyranny of the majority? Was the president elected by just the poor to represent them only? When he says his job is to protect the poor and middle class does this mean he does not represent the rich who are in the minority? Does this not fly in the face of what america is?... that and energy policy, fraking, and more.

[video=youtube;DgNsSj-AY7c]http://www.youtube.com/watch?v=DgNsSj-AY7c[/video]
 

nikoloslvy

I wear my sunglasses at night...Anyone want fries?
Donator
May 5, 2003
4,937
121
753
#24
part 2.

[video=youtube;IN3QrwAyuo8]http://www.youtube.com/watch?v=IN3QrwAyuo8[/video]
 

nikoloslvy

I wear my sunglasses at night...Anyone want fries?
Donator
May 5, 2003
4,937
121
753
#25
From the guy who never lets any pro Schiff comments on his page.
[video=youtube;VpK51pWg5HY]http://www.youtube.com/watch?v=VpK51pWg5HY[/video]

Funny how he labels this video "CNBC laughs at Peter Schiff". Hey stupid, they laughed at him in 05,06 etc as can be seen in videos posted in this thread.
Turns out peter was right again. Dennis Gartman did say gold was a bubble.

http://www.cnbc.com/id/44251472/Dennis_Gartman_Gold_s_Bubble_Is_Bursting

Dennis Gartman: Gold’s Bubble Is Bursting
Published: Wednesday, 24 Aug 2011 | 1:29 PM ET...

According to strategic investor and commodities expert Dennis Gartman the sell-off is not a buying opportunity at all – the buying opportunity is behind us.

In fact, he thinks what’s happening right now is a classic sign of a top. “This was one of the great bubbles of our time.”