hoodoo961 (December 31, 1969 at 4:59 pm)

Where are the high interest rates caused by deficits and the inflation caused by monetary expansion... not actually occurring? Treasury rates are still near record lows, and it seemed as if inflation was picking up but then commodities popped.. and why is this not a problem for Schiff's reasoning? On a different note, his advocacy of a higher savings rate is heartening.

WhoIsPritishWain (December 31, 1969 at 4:59 pm)

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treasurector (December 31, 1969 at 4:59 pm)

A practical, smart, perceptive polemic campaign Mr Schiff.. As the US loses its grip on productivity, a few men saw the need to create a new tool for the Global Financial Superbowl. That tool is ownership of a influential stake in all other appropriate global financial institutions. A blank check was the efficient way to build this tool. War & competition is not fair nor is the distribution of fortune.Let us all build smarter tools & be humble with our simple ideals, to do good.

badsign1980 (December 31, 1969 at 4:59 pm)

the prob is the usa and west is that education is really bad and making good products mean having good education, knowing high tech, and having brains, but the big companies are so far out in knowledge and markets new companies are made to fail, china produces crap compared to europe or usa

newave123456 (December 31, 1969 at 4:59 pm)

Mr. Schiff I respectfully disagree with you about cutting unemployment benefits. If we stop spending money on the wars, we could invest that money back into creating manufacturing jobs here in america and continue to give americans unemployment benefits until we get it off the ground.

Silicondoc (December 31, 1969 at 4:59 pm)

Yep, it's the physical economy stupid, and that's what we have less and less of. We get more and more fake, phoney, and vampiric blood sucking gamblers hacking and cheating and lying and stealing wall street economy of cheaters and thieves. When the nation is run by a gaggle of thieves sucking billions and trillions out of thin air with wall street hyperactive speculation and trading and the FEd and the congress ganking the rest, while they both toss the physical economy overseas - WE'RE DONE!

adamsmith86 (December 31, 1969 at 4:59 pm)

The reason is not only the assets that would pour into the market should the Banks had gone bankrupt. Also, the deflationary effect on the whole monetary system would make money supply shrink, so money would appreciate. Those left with money would actually have more because, although we would have the same amount of dollar bills, they would have more value. And this money would be savings ready to create new and sane businesses that would create the employment people need.

freepress666 (December 31, 1969 at 4:59 pm)

what hes not telling you is when you sign up for unemployment, food stamps, your giving power of attorney, to get a privilege, you are their chattel property, you give up your rights voluntarily, see you sign a contract plain and simple, then you must perform to the contract, that is what they wanted all along, then they can pass what ever law they want, and you cant say nothing, you signed the contract.

engine2truck6 (December 31, 1969 at 4:59 pm)

Not Peter. I did not mean to attribute the collectivist ideas to Schiff, but rather to mr82769.

engine2truck6 (December 31, 1969 at 4:59 pm)

@bobjman I am making philosophic point, not an economic one, for those not familiar with the English language. It is unethical to consider your fellow human being as a "resource", or as "capital" in the way collectivist central planners do..