🔴 Tariffs and Inflation Are Taxes - Ep 961
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- čas přidán 15. 05. 2024
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I foresee a recession lasting 2-3 years, and if inflation continues to surge, the Federal Reserve will likely raise interest rates soon. Inflation is causing various issues worldwide, such as food shortages, scarcities of diesel and heating fuel, and significant spikes in housing prices, leading to a potential financial market crash. This global downturn could have long-lasting repercussions. Given the current inflation rate of approximately 9%, my main worry is how to optimize my savings and retirement fund, which has remained stagnant at around $300,000, yielding almost no gains for quite some time.
Numerous opportunities exist to achieve substantial profits at present, but executing high-volume and nearly flawless trades requires the expertise of real-time professionals with an ISDA Agreement. This agreement allows investors to participate in sophisticated trades, exclusive to seasoned individuals, and unavailable to amateurs. Attempting to be a high-stakes trader without an ISDA is akin to trying to win the Indy 500 riding a llama.
I’m sure the idea of an invstment-Adviser might sound controversial to a few, but a new study by Motley-fool found out that demand for Financial-Advisers sky-rocketed by over 42% since the pandemic and based on firsthand encounter I can say for certain their skillsets are topnotch. I've accrued north of 580k within 16-months from an initially stagnant Portf0lio worth 85k.
Inflation is over 10% here in the UK, but as we know it's definitely way more than the Government would like to admit. My plan is to earn more passive income and ride this out, can your Investment-adviser assist?
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Marisa Michelle Litwinsky” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
Recently bought some recommended stocks and now they are just penny stocks. There seems to be more negative portfolios in the last 3rd half of 2024 with markets tumbling, soaring inflation, and banks going out of business. My concern is how can the rapid interest-rate hike be of favor to a value investor, or is it better avoiding stocks for a while?
Just ''buy the dip'' man. In the long term it will payoff. High interest rates usually mean lower stock prices, however investors should be cautious of the bull run, its best you connect with a well-qualified adviser to meet your growth goals and avoid blunder
The truth is that this is really not as difficult as many people presume it to be. It requires a certain level of diligence, no doubt, which is something ordinary investors lack, and so a financial advisor often comes in very handy. My friend just pulled in more than $84k last month alone from his investment with his advisor. That is how people are able to make such huge profits in the market
nice! once you hit a big milestone, the next comes easier.. who is your advisor please, if you don't mind me asking?
Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with ‘’vivian jean wilhelm” for the last five years or so, and her returns have been pretty much amazing.
I just looked her up on the internet and found her webpage with her credentials. I wrote her a outlining my financial objectives and planned a call with her
I'd like to watch a debate between Peter Schiff and every central banker😂😂😂😂😅😅
Same here
Central banks are buying gold so technically they are on the same page.
Peter for fed chair!
ANY central banker
@@prakash.srn.17 lollllllllllollllll
I would love to see Peter disguise himself as a reporter and ask J Powell questions during his next Q&A?
"Close the door, just close the fkkking door" -Jerry Powell, when the eco protesters crashed his meeting 😂
Puppet Powell
He might have to wear a different shirt 😂
"Hi Jerome, it's Seter Pchiff here from ABC News. Do you acknowledge the 2% inflation target was originally a ceiling not a target?"
@@MrAnderson3lol 😂
Yes, O'Keefe style!
In Lebanon we had coins a couple of years ago. They completely disappeared, and now our bills are getting smalled, size of the paper, because it is too expensive to print large notes. I mean the size of the paper! Lol😂
My mom is Lebanese. That country is a complete joke now. Sad
Is what happens with hyperinflation…the coins disappear because the metal content is worth more than the currency $ value printed on the coin…so ppl melt them down and pocket the difference…bad money drives out good money…Gresham’s law
Do people use the USA dollar to trade?
lebanon currency = zimbabwe currency
all of our currency has dissapered , our dimes quarters and half dollars are no longer silver and pennies are no longer copper our government has robbed us
😀
Warren Buffett had it right; Price is what you Pay, Value is what you get...
I trust all this man’s intelligence and information hope he always stays on line
I like Peter, but he is wrong about gold.
@@stefanonbekend8177 Why ?? Gold is one of the Best things To Store or even Buy In for Long Term Secure Wealth
@@Jakkaribik1When the US default on the national debt, gold goes down.
@@stefanonbekend8177 Gold is just Real thus in Line with the World but at some point the Value Stops going down and will only go Up
"It was better than expected that it wasn't even worse... it's not good news" 😂😂😂
Love you Peter!
Peter, please make a short video that crushes the corporate greed causes inflation argument so we can share it with people.
So the federal reserve has been charging us an extra 2% tax yearly and now taxes us over 10% on top of income taxes. Nice
For once, Peter is wrong.
Gold is not a better conductor of electricity than copper. Copper is #2 best. Silver is #1. Gold is #3. Followed by aluminum.
However, gold has superior currosion resistant . That is why it's used in electronics.
Doesn't that make gold better and more useful overall?
@@lawtutoringEven if it is better relative to anything else for any industrial application. The fact that gold is considered a store of value, it will always be too expensive for almost any industrial application.
When the US default on the national debt, gold goes down.
@@stefanonbekend8177 If the US defaults on the national debt, that would erode faith in the dollar as a store of value. At that point countries and the very wealthy will need an alternative store of value without counter party risk, gold is always the historical alternative. This will create demand that would drive the value of gold up not down.
@@lawtutoring It makes it good at what it does, but not as useful overall. Only 6% of gold is used in electronics. Limited amount of gold in plated contacts v sheer volume of copper/silver in traces and wires. I use silver in high end audio cable over copper, gold would be much worse. Almost 50% of gold is used for jewellery which is not a use case as jewellery is subjective.
Great show. I like that you do not need a “script”. The most intelligent people don’t need a script!
Schiff can wing it for an hour without breaking a sweat.
Great POD show. You tell it like it is.
23:40 copper is a better conductor of electricity than gold. silver is the best, then copper, then gold. gold just doesnt oxidize, while copper and silver do, so gold wiring maintains conductivity better than copper or even silver do.
Went to Costco 2 days ago and i did notice the base price of aluminum foil went up from the old $19.99 to now $23. Good thing i stocked up back when it was on sale for $15
"Inflation creates an illusion of wealth". That's a great line.
Thanks, Peter!!
Peter, COPPER is the better conductor than GOLD. The best conductor is SILVER.
That's right. Gold is sometimes used because it's inert. So plating copper terminal with gold is sometimes necessary.
41:45 100% correct
Love Peter. Say what you want about missing profits in other stuff the past few years. Gold/silver are the only real currency when it comes down to it.
Your personality is THE BEST 😂❤...always giving it straight!
Great show!!! Bringing up the copper penny deal… amazing!!!
Your efforts are appreciated
Nobody does a better podcast with themselves than Peter Schiff and Michael Saylor.
Reality is the ultimate CPI
Great show Peter!
Thank you very much...
You are so right Peter ! A very sincere thank you.
Thank you, Peter! Have a nice vacation! :)
When you say target inflation is 2%, how do they measure the inflation? 'cause you can change the cpi or whatever formula you use to show 2% inflation even if the cpi is 4%...
Yeah exactly right I had a math class in high school they called distreet or something like that and it was all about different methods of data manipulation I dropped out the class dropped out of forensics and psychology didn't care in senior year
Check out “shadow government statistics “, this will show you the real inflationary figures, using the governments basket of goods used in 1980 before they started hiding and changing what was in their basket…hope this helps.
I believe it started in Australia, and it was supposed to be the maximum not the target. Government is crooked. I wish us stackers got rewarded for fiscal discipline!
I remember watching TV when the dow hit 10k in like 2005 or 2006 I think. I was working at university of new Hampshire
Rice and beans I’m 70 and 60% of my pension goes to taxes Property tax gas tax income tax sales tax gas tax .One thing is for certain in this world death and taxes😢
Not really. You can relocate to a different country and pay less tax - even zero tax.
@@lawtutoringRelocating to another country is not a real option for the majority of people.
Over 65 should have No property taxes it’s robbery
I'm sorry to hear that
so far you're only getting the tax part
😅
A day later gold is $2419.80 per ounce.
In 1982 half of the pennies were copper, they switched halfway through. nickels only had silver from 42-45 (war nickels) and pre 64 half dollars were 90% silver but 65-70 were 40% silver.
Spot on with your Walmart analysis. Upper middle class family from NJ now exclusively shops at Walmart for the past couple years now ! Walmart plus also great service
Good episode!!
For flip's sake, Peter, have your editor lackey match the audio levels between the show and the Indeed ads! It keeps jolting me awake when I'm trying to drift into sleep with ASMR doomer vibes.
Great content Peter !
You are a great speaker enjoy a lot
Make the Constitution great again!
Great podcast Peter!
Peter, point of correction. Copper is actually a better conductor of electricity than gold. In fact copper is the second best conductor after only silver. The reason gold is preferred in many electronics is because it doesn't corrode. Because gold is expensive, manufacturers tend to gold-plate their electronics rather than use solid gold.
I got robbed once in Detroit I gave the guy Canadian tire money and he was like “waz dis honky “ I told him I’m from Canada that’s what we use .
😂 nice one
Priceless , even better that he is so uneducated on currency he took it😊
Peter you are the man.
Good video.
Great podcast.
Peter needs to interview Jerome….
Impossible for such a debate to ever happen. Not just central bankers, but most people in general don't like confrontation. They don't want to take the chance of getting their feelings hurt, or worse, becoming a meme. And they believe that if you like confrontation, you're an A-Hole.
Fascinating but sad. Thanks for sharing your thoughts Peter !
Tariffs sure worked for China. They levy tariffs on EVERYTHING from abroad. It’s made them a wealthy creditor nation. Remember, at one time the United States ran its entire government on foreign tariffs alone.
News report, china is broke! Haven’t you heard about the state bailing out all the house builders.
1:1 gold to dow incoming
🤡
Holy Shit! What a great episode!!!
Thank you, Professor Schiff😂😂
This was an excellent podcast Peter. I absolutely love it when you price things in Gold and show this facade of an economy we’re in! And showing how the FED is full of it. Gold is Money Silver is Money. The dollar is a piece of paper fiat currency.
lets see P Schiff get into a fed question period . ill bring the popcorn !!
Good discussion on David Lin with Art Laffer and Peter’s fave, Steve Hanke, about inflation and the central bank and Biden’s tariffs. Art Laffer’s opinion, when Trump did tariffs, is that Trump was actually trying to bring them to the table to have complete, unmanipulated free trade.
Have a good vacation. Wish I could do the same
🥇🥇🥇🥇
I look forward to seeing the value of a pre-82 Lincoln Cent reach 5 cents, but then I know how much worse the economic conditions will be when it does. Junk copper pennies will sell years later the same way pre-64 junk silver is sold, current spot is currently 3x face value, eventually to 5x to 10x fv thanks to inflation.
You can tell Peter Schiff is an enthusiast for all things to do with Gold .....Even the skin on his face looks like Gold .!!!..🤗
You're worth following no matter where you travel...will be awaiting your notifications!
What do you think of inflation bonds?
Of course Walmart is doing well - good recession play. Didn’t work for Big Lots and in CA, The 99cent stores went under (I believe they are in AZ, TX, and UT).
The Fed lost - farmer here, many farms are going to loose 100k to 500k just to keep going ... multiple businesses dumping inventory or going broke - looks a lot more a deflationary bust than stagflation to me
So many hours of listening so my guy is paying off! To the moonnnnnnnn yeah baby yeahhhhhhh
Got some gold stocks? Haha
About 70% silver /20% gold /10% GDXJ so I've been waiting on the 30 mark for the cup and handle technical to go sky- what about you - I'm 26 in the UK
@@andy2080 cool. I have decent amounts of physical but also gambling on some btc because the narrative behind it is so strong and I think price will go up, regardless of what I think of the fundamentals behind it haha
Silver is over five percent on the day and the dollar hit it's ceiling of a 0.2 rise but has since crash. Both charts are worth a look. The dollar crashing since the start of the month doesn't get talked about enough as it's the stick that we measure everything else
Peter, I think the ‘29 market is a good comparison to today because we are in bubble territory now too.
My wife is a team lead at Walmart and they are cutting a lot of employees hours.
32:30 in addition to copper pennies, nickels are now worth about 6 cents as well.
Turns out gold didnt sell off this time
You can go ahead and sort through pennies to get the pre-1981 ones 😂
👍👍
IBM Johnson & Johnson and Exxon (Standard oil)
Gold is only 70% electrically conductive as copper, but a gold plating stops it from oxidizing
Gold is more useful overall. More resistant to erosion.
@@lawtutoring but you need just a thin plating for it to be effective. Too much supply not enough demand.
End the system. End the insanity.
GE was the last of the original S&p I think right?
A historical note here. Alexander Hamilton, or first secretary of the treasury, saved the United States from bankrupcy and financial collapse by persuading Congree to enact tariffs. Over the next forty years , the United States succeeded in paying off every penny of our national debt with this one tax. Much of this debbt was owed to France, who had oaid fir the American Revolution because the United States pre-constiution Continental Congress refused to appropriate even one enny to pay for its own revolution . Instead, it just printed up paper money to pay for everything, leading to the phrase, "not worth a continental." However, once Hamilton allowed people to trade in their Continentals for gold or silver coins produced by the newly established national mint. So it turned out that those who held on to their Continentals (many people did not), found out that they were worth something after all.
If we had someone of Alexander Hamilton's moral calibre and grasp of economic principles to serve as out Secretary of the Treasury or Federal Reserve chairmaan. The U.s> economy would be doing fine. Finance d soloely by Tariffs and massive spending cuts. Of course, this is a phantasy. There is no one with Hamilton's genius around in our current crop of economists and bankers.
Protectionism was definitely necessary during the time we were establishing this country. Hamilton was an interesting guy, as well as many of the other influential figures of that time. I read quite a few of his works back in the day
Hamilton was a central banker and the tariffs were supposed to be temporary “to establish fledgling industries” but as you can see it’s a permanent fixture. He knew what he was doing by enslaving the country to central banks. Doubtful he unilaterally “saved the country” because as the last 60 or 70 years shows us is that “deficits don’t matter”. When Jackson won the bank war that was the only period of relativity free banking in this country. They shut down as a result.
The price of Copper and silver are a direct result of government spending on solar.
Kroger has better prices than Wal-Mart.
Still waiting on epdfx to be green again…
Buy red sell green...
All ferrous and non ferrous Scrap Metal are seeing * all time Highs - Across the Board 🎆 This is including all of the 😢Steel grades . Shred Steel dips down huge when there's little mfg demand for vehicles.. yet shred Steel,a low mixed grade is selling to Scrap Yards for over $250 a ton
Is modifying previous month import figures normal or were they hiding a big a jump?
Copper is a better conductor than gold. But copper has some downsides in application. Not inert like gold.
Bit like King Arthur, "if a disaster occurs I will be back online"
Tariffs are a good consumption tax, given our current debt levels. Why enact a consumption tax on domestic producers? Tariffs can be used offensively to punish and halt currency devaluation which is distorting economies around the world. I like tariffs.
Yes I need Pennie’s.
High school chemistry- “gold is a better conductor of electricity than copper”
I’m going more towards that Powell is a pathetic liar
Schiff for GOP Nominee
Inflation is not tax. It's income, and tax free income at that!
it's income for those who get hold of the new money, and tax for everybody
So, tariffs are smart taxes unlike corporate taxes.
Silver is the most conducive metal, more than gold even
Too many commercials Peter. 😞
Stock prices get adjusted down for dividends, the loss on appreciation offsets the dividend payout, no net gain from dividends, dividends are a farce.
There could be some exceptions where the dividend is huge. Like coal mining shares.
The Dividend is more like another Income Stream if a good Company Is better than Inflation you earn more every Month
@@Jakkaribik1 that is the general assumption, in actuality, it’s a payment of the shareholders appreciation. There is no additional. The share price literally drops the same proportion of the dividend. The shareholder is not making money. It’s a wash, from unrealized appreciation gain, to reclassification of that gain into something called “a dividend” and distributed. Where the share holder now has to pay taxes on, unless sheltered. Nothing special/ beneficial about dividends, except companies that have the ability to play this shell game, (probably for their tax benefit, etc) are more likely to be producing profits and there for have share prices that will more likely continue to rise, in/ under fair liquid free market forces.
@@nbleagle9561 Makes Sense Yes Still If you Have Dividends you can keep Earning like every Month and if it is a good Company it will only go up thus you get more over time because of the Increased time.
Italy has a 26% Tax on the Stock market so yeah you need like Around €200K To Earn Minimum Wage
You’re so good at explaining macroeconomics, even Jared Bernstein can understand… well…perhaps not.
I’ve wondered why the fed created the $500 and the $1000 bill back then? And why aren’t the fed is not making it now?!?
well call me Chester Copperpot!
Hello Peter. Pls let me know if by any chance you touch Austria. I would love to sit down for a quick coffee or I could show you around Vienna hahaha. I’m a 24 y/o mechanical engineer & I have been listening to your podcast for a while now. It would be an honour. Cheers and enjoy
Hi Eduardo, I also have degree in engineering but I am in Czech republic, not so far from Austria. Cheers
Thanks for all you do Peter. Best podcast on CZcams. Just another data point.
Since 1933 the US dollar has lost 99.9916% of its purchasing power. Now one dollar has 0.0083 cents of buying power. That is mind boggling.
Peter; you say, if you want prices to come down you need to increase supply but printing money is inflation. How can it be both (it is both but not from your philosophy)
Pete, why are the gold miners not sharing in the rise of gold ?