PETER SCHIFF schooling house committee

I saw this last night. It's pretty good.

Hope this fixed your link.

THIS PART IS THE BEST:
21.44(almost at the end)

Back when Ford started, employees were paid $5/day. The equivalent of one ounce and 1/4 ounce of gold (or $2,500/wk)
Ford's workers did not pay federal or payroll taxes, they had no unions.

Paid the highest wages, produced the best quality, least expensive products.

Because we had smallest gov't.
We had minimal regulations and low taxes.

Highlights of what he said:

We have borrowed and spent - we have to reverse the mistakes.

Stimulus will not create jobs.

Housing bubble, financial 2008 crisis were consequences of stimulus.

We need UNDER consumption. Need saving, investment, production.

Would employ more if not for so many Gov't Regulations.

No credit available for small business.
Higher interest rates encourage savings.

Inflation comes from Gov't spending.
Demand does NOT come from Gov't spending.

Need to repeal regulations that are in place.

He is suggesting you get rid of minimum wage laws.

We need more factories.

He currently pays:
35% tax rate
3% another tax
7% state tax
plus property tax and sales tax above this as well.


Ideally, we would not have corporate tax, or income/payroll tax.

Better to have a national sales tax.

Currency crisis might be coming before next election.

Should NOT be increasing taxes during a recession.

$15 Trillion financed with treasury bills.

20% interest rates in 1980.

Need more on the job training.

When interest rates rise, the banks will fail again.

Gold going up because of inflation.

Interest rates will go way up.

21.44
$5/day ounce and 1/4 of gold ($2,500/wk)
Ford's workers paying no federal and no payroll taxes, no unions.

Paid the highest wages, produced best quality, least expensive products.

Because we had smallest gov't.
We had minimal regulations and low taxes.

Schiff for President 2012!!!

I love that guy ! In a manly way of course.
He has been right for the last 20 years anout "EVERYTHING"

Kudos to Peter Schiff !

This really is worth watching if you have the time.

Perfect logic aimed against establishment economic positions.

Schiff is not hamstrung by the vocabulary of his academic colleagues. His explanations are as clear and precise as a laser beam. He makes compelling sense in a hearing full of obfuscation and political pandering and makes pols like Cummings look like the sycophants and con artists they are. I hope Dr. Paul's campaign can get Peter more face time on Capital Hill and in the media during the campaign.