PDA

View Full Version : Interesting new Mike Maloney interview on the dollar, economy, Fed.



kusok
01-23-2012, 11:34 AM
E-ShSGz89mA&feature=

Shoesfly
01-23-2012, 12:10 PM
Video length: 19:13

Establishment of the Federal Reserve: 1913










































http://i3.kym-cdn.com/entries/icons/original/000/004/077/Raisins_Face.jpg

kusok
01-23-2012, 01:36 PM
inb4 that Juris thing and lax32 take a **** on Maloney and us, and defend Ben and Federal Reserve.

32lax
01-23-2012, 01:38 PM
inb4 that Juris thing and lax32 take a **** on Maloney and us, and defend Ben and Federal Reserve.

lol. umad cause u got laughed out of the other monetary policy thread, so you went and made your own.

with a YouTube video. and no original thought. typical.

stateprop
01-23-2012, 01:47 PM
a YouTube video. and no original thought. typical.

i fail to see how this was NOT a good post. i thought the video made alot of sense tbh

reinforces what people with logic already suspect, that ron paul is the only one with an iota of a clue as to what needs to happen with our money

kusok
01-23-2012, 01:55 PM
lol. umad cause u got laughed out of the other monetary policy thread, so you went and made your own.

with a YouTube video. and no original thought. typical.


Thanks for proving my point ^^^

In the other thread several poster pointed out a total silliness of OP and her/his or it's conclusions. Obviously Monetary Policy is directly responsible for bubbles. I don't much mind nor care about being "laughed out" by communists like Zen or you or that dike thing. I'm cool with that. Enjoy your thread. Care to provide your overpriced useless college Keynesian critique of Mike? Let's get back on topic.

stateprop
01-23-2012, 02:00 PM
that's kusok, i added that youtube vid to my sig.

it reinforces what i already suspected, and clarifies some points further...

good post!

Xenic
01-23-2012, 02:47 PM
10, 20, 30 years..? idk when it's going to pay off, but stacking silver sure is fun :cool:

00_Juris
01-23-2012, 03:17 PM
Kusok what are we supposed to be getting from this video that we haven't heard before?

Btw, Russia Today is a subversive organization, and is probably bankrolled by the Kremlin.


According to a variety of sources such as Der Spiegel and Reporters Without Borders, the channel presents pro-Kremlin propaganda. A 2005 report conducted by the U.S. government operated VOA, interviewed Anton Nosik chief editor of a major English-language computer internet site in Russia, in which he described the creation of Russia Today as an idea smacking of Soviet-style propaganda campaigns, and also noted that the channel was not created as a response to any existing demand. While another article in the Digital Journal called RT a "pro-Putin news outlet" and its advertising campaign as "open propaganda war."

A 2009 article by journalist Luke Harding for The Guardian reporting on RT's advertising campaign described the network as "unashamedly pro-Putin " and part of the Kremlin's attempt to create a "post-Soviet global propaganda empire."

An article published in The New Republic by James Kirchick characterized the news reportage of Russia Today as, "virulent anti-Americanism, worshipful portrayal of Russian leaders, and comical production values," that "can't help but revive the pettiness that was a distinctive feature of Soviet-era propaganda.

An article by Accuracy in Media criticized RT as a "propaganda network funded by the Moscow regime of Vladimir Putin" and charged that it "regularly features Marxist and radical commentators. The article also cites the description of the network by former KGB officer Konstantin Preobrazhensky as a part of the Russian industry of misinformation and manipulation designed to mislead foreign audiences about Russian intentions."[26] Furthermore, Preobrazhensky argues that Russia Today utilizes methods of propaganda that are "managed by Directorate 'A' of the Russian Foreign Intelligence Service" and that "the specialty of Directorate A is deceiving world public opinion and manipulating it. It has got a lot of experience over decades of the Cold War."
http://en.wikipedia.org/wiki/RT_%28TV_network%29

kusok
01-23-2012, 03:32 PM
Kusok what are we supposed to be getting from this video that we haven't heard before?

Btw, Russia Today is a subversive organization, and is probably bankrolled by the Kremlin.


I'm well aware that RT is against the west's main stream media. Russia's set of criminals are just as bad as the western media scum. I lived with them for about 15 years.


What you can take from this clip? Well, for starters you called ben "brilliant", while Mike calls him an idiot and laughs at him. I also showed you another clip where Peter Schiff (I know Austrians have an effect of holy water and cross on you and lax32) destroyed Ben with truly brilliant predictions on economy while Ben got it all wrong for years and years. So, this is something you can learn from the clip, or at least explain why you disagree with Mike.

You can also see the doomed nature of our monetary policy, and if you disagree, likewise show briefly as to why.

00_Juris
01-23-2012, 04:26 PM
Well, for starters you called ben "brilliant", while Mike calls him an idiot and laughs at him.

Only someone like you would think that this was important.


I also showed you another clip where Peter Schiff (I know Austrians have an effect of holy water and cross on you and lax32)

Not true, I'm a fan of several economists of the Austrian school.



destroyed Ben with truly brilliant predictions on economy while Ben got it all wrong for years and years.

Anyone can say the sky is falling a million times over and over and when it does you call that a forecast, which is funny because Austrians don't believe that you can forecast.
I just made an argument in the other thread that makes the Austrian theory seem very unlikely. He says the car wreck was caused by drunk driving when it was really caused by a blind spot, or something else.

Peter Schiff is challenged in even describing present circumstances much less being an astute forecaster of events.

I1xaoM-5yCM


Euro Pacific Capital is apparently struggling, so it appears that he's been losing his predictions lately. Where's your god now?




So how do Schiff's clients actually fare? Mike Shedlock a.k.a. Mish says not so well. In a long discussion of Euro Pacific's strategy, he lays out Schiff's investing thesis and lists "12 Ways Schiff Was Wrong in 2008":

Schiff's Investment Thesis

US Dollar Will Go To Zero (Hyperinflation).
Decoupling (The rest of the world would be immune to a US slowdown.
Buy foreign equities and commodities and hold them with no exit strategy.

12 Ways Schiff Was Wrong in 2008

Wrong about hyperinflation
Wrong about the dollar
Wrong about commodities except for gold
Wrong about foreign currencies except for the Yen
Wrong about foreign equities
Wrong in timing
Wrong in risk management
Wrong in buy and hold thesis
Wrong on decoupling
Wrong on China
Wrong on US treasuries
Wrong on interest rates, both foreign and domestic
http://money.usnews.com/money/blogs/the-ticker/2009/01/26/peter-schiff-right-on-the-crisis-wrong-on-investing




You can also see the doomed nature of our monetary policy, and if you disagree, likewise show briefly as to why.


I am still working on a systematic destruction of many aspects of RonPaulNomics on this forum, so stay tuned. Monetary policy and the housing bubble is only the beginning.

stateprop
01-23-2012, 04:43 PM
I am still working on a systematic destruction of many aspects of RonPaulNomics on this forum, so stay tuned. Monetary policy and the housing bubble is only the beginning.

uh huh... ok...

ChetLemon
01-23-2012, 05:33 PM
Good clip; agree with most of what he was talking about.

Although I do take issue with this idea that the gold standard is the only answer. Gold as a currency has had a plethora of problems associated with it.

Also, Mike keeps bashing fiat currency, but he forgets about the Tally sticks! Tally sticks worked well in England for something like 800 years before it was removed. To my knowledge it didnt collapse, or if it did, it wasn't because the system was flawed. Also wasn't colonial scripp fiat?

kusok
01-23-2012, 05:43 PM
Only someone like you would think that this was important.



Not true, I'm a fan of several economists of the Austrian school.




Anyone can say the sky is falling a million times over and over and when it does you call that a forecast, which is funny because Austrians don't believe that you can forecast.
I just made an argument in the other thread that makes the Austrian theory seem very unlikely. He says the car wreck was caused by drunk driving when it was really caused by a blind spot, or something else.

Peter Schiff is challenged in even describing present circumstances much less being an astute forecaster of events.

I1xaoM-5yCM


Euro Pacific Capital is apparently struggling, so it appears that he's been losing his predictions lately. Where's your god now?








I am still working on a systematic destruction of many aspects of RonPaulNomics on this forum, so stay tuned. Monetary policy and the housing bubble is only the beginning.


Peter getting attacked in 2008 by butt-hurt main streamers has been documented and debunked long ago. 2008 is not an exit date, peter's clients have gone on to do better than s&p mainstremmers who lost their ass or made 3%

I don't need you or any other troll to explain economics to me. I can see it when I put gas in my car or buy food or real estate.

inb4 more government produced data and idiotic graphs that will say we have no inflation, no unemployment, and everything is fine and great. Fed is doing God's work. ben is brilliant.

00_Juris
01-23-2012, 06:03 PM
Peter getting attacked in 2008 by butt-hurt main streamers has been documented and debunked long ago. 2008 is not an exit date, peter's clients have gone on to do better than s&p mainstremmers who lost their ass or made 3%

Post data from an independent source.


Schiff was correct about point number 1 above. The US equity markets crashed. That was a very good call. Unfortunately, his investment thesis centered on shorting the dollar in a hyperinflation bet, and buying foreign equities rather than shorting US equities.
Furthermore, Schiff made no allowances for being wrong and had no exit strategy whatsoever.
What happened in 2008 was that foreign equities sold off much harder than US equities, and a strengthening US dollar compounded the situation.
In other words, Schiff failed where it matters most: Peter Schiff did not protect his client's assets. Let's take a look how, and more importantly why, starting with charts of various foreign indices.
http://globaleconomicanalysis.blogspot.com/2009/01/peter-schiff-was-wrong.html

kusok
01-23-2012, 07:19 PM
Post data from an independent source.


Peter Schiff Wiki addresses all this and puts it to rest.

32lax
01-23-2012, 07:20 PM
so i decided to waste a little time going through your video. heres a little breakdown:

Obviously the tone of the interviewer is not impartial, in fact about as biased as you can possibly be. “Why are your critics so ignorant?“ LOL. but we’ll let that slide.

1:47 To begin with, he is promoting his book, a guide to investing in gold and silver. I wonder what point of view he might be selling?

3:15 Claim- “Only one person that knows anything about it” Really? You don’t think Mitt Romney, as CEO of Bain capital, understands the financial system?

4:30 Claim- debt ‘enslaves’ us. Why? Because, at 5:20, the banks ‘have the big buildings’. Is he serious?

6:20 Claim- “the monetary system creates inequality” How? Proof? None provided.

6:50 Claim- under the current money system, we have booms and busts. Under sound money, we have steady continuous growth. Reality- NOT TRUE historically. The business cycle existed under both fiat currency and commodity backed currency. The volatility of ‘booms’ and ‘busts’ was similar under both.

7:00 Claim- “I have a FEELING that our level of prosperity would be higher under a hard money system” proof? None. Feelings.

8:00 explanation of how fiat currency works. Nothing interesting, we all know.

9:40ish Claim- Gold and silver are money. Dollars are just currency. Reality- dollars are legal tender in the US. Gold and silver are commodities.

10:45 Claim- “biggest calamity in financial history is coming. When I was writing my book…” translation- you need to buy my book to know what’s coming.

16:00 description of speculation. Hope that’s not investing advice.

17:00 on- his predictions on the future of investing in gold and silver. Which happens to be the topic of his book.

In summary, as usual, we have a combination of (1) very basic, intro level, intuitive explanation of how economics works along with (2) unsubstantiated claims about the future of the system. And the way these videos work on those unfamiliar with economics is the validity of (1) lends false credibility to (2).

32lax
01-23-2012, 07:23 PM
Peter Schiff Wiki addresses all this and puts it to rest.peter schiff has made some very bold predictions about the collapse of the US dollar through hyperinflation and losing reserve currency status as well as the collapse of US Treasuries. So far he has been proven wrong.

kusok
01-23-2012, 09:03 PM
peter schiff has made some very bold predictions about the collapse of the US dollar through hyperinflation and losing reserve currency status as well as the collapse of US Treasuries. So far he has been proven wrong.


Those are the key words. of course if he is yet again proven correct you will switch to your Plan B that you use for all the many predictions he and Paul made that came true, you will say they always predict doomsday, so eventually they will be right etc.

kusok
01-23-2012, 09:12 PM
so i decided to waste a little time going through your video. heres a little breakdown:

Obviously the tone of the interviewer is not impartial, in fact about as biased as you can possibly be. “Why are your critics so ignorant?“ LOL. but we’ll let that slide.

1:47 To begin with, he is promoting his book, a guide to investing in gold and silver. I wonder what point of view he might be selling?

3:15 Claim- “Only one person that knows anything about it” Really? You don’t think Mitt Romney, as CEO of Bain capital, understands the financial system?

4:30 Claim- debt ‘enslaves’ us. Why? Because, at 5:20, the banks ‘have the big buildings’. Is he serious?

6:20 Claim- “the monetary system creates inequality” How? Proof? None provided.

6:50 Claim- under the current money system, we have booms and busts. Under sound money, we have steady continuous growth. Reality- NOT TRUE historically. The business cycle existed under both fiat currency and commodity backed currency. The volatility of ‘booms’ and ‘busts’ was similar under both.

7:00 Claim- “I have a FEELING that our level of prosperity would be higher under a hard money system” proof? None. Feelings.

8:00 explanation of how fiat currency works. Nothing interesting, we all know.

9:40ish Claim- Gold and silver are money. Dollars are just currency. Reality- dollars are legal tender in the US. Gold and silver are commodities.

10:45 Claim- “biggest calamity in financial history is coming. When I was writing my book…” translation- you need to buy my book to know what’s coming.

16:00 description of speculation. Hope that’s not investing advice.

17:00 on- his predictions on the future of investing in gold and silver. Which happens to be the topic of his book.

In summary, as usual, we have a combination of (1) very basic, intro level, intuitive explanation of how economics works along with (2) unsubstantiated claims about the future of the system. And the way these videos work on those unfamiliar with economics is the validity of (1) lends false credibility to (2).



Correct, Romney knows nothing about economy or fed or anything else like that. Nothing. Zero. nada. Our CEO knew precisely dick about our business, being CEO doesn't mean anything. it just means your rich daddy set you up and gave you a head start. Ron Paul forgot more about economics than Romney ever knew. remember the clip of paul predictions? Romeny can only dream of making that speech.


Yes, Mike has a book. So does ben... Ben also has other interests and people he answers to, he is just as biased. US government stats are just as biased too, they have an agenda as well.


Yes he is serious about banks having big buildings and enslaving us. Bank CEOs get $9'000'000 per year in bonus after they get bailed out with our money, while we lose house, jobs, pay higher prices on everything etc.


Corrections under a better system are usually ruthless and fast, like in 1921, you never even read about that one, was over quickly. That's what we need. Painful and quick correction. The sooner the better.

32lax
01-23-2012, 09:16 PM
Those are the key words. of course if he is yet again proven correct you will switch to your Plan B that you use for all the many predictions he and Paul made that came true, you will say they always predict doomsday, so eventually they will be right etc.
if we have an economic apocalypse and all fiat currencies and sovereign debt collapse, including the US's, he would be right. that scenario is not coming, no matter what Internet doomsday-ers claim or what books gold hawks try to sell.

32lax
01-23-2012, 09:27 PM
Correct, Romney knows nothing about economy or fed or anything else like that. Nothing. Zero. nada. Our CEO knew precisely dick about our business, being CEO doesn't mean anything. it just means your rich daddy set you up and gave you a head start. Ron Paul forgot more about economics than Romney ever knew. remember the clip of paul predictions? Romeny can only dream of making that speech.


Yes, Mike has a book. So does ben... Ben also has other interests and people he answers to, he is just as biased. US government stats are just as biased too, they have an agenda as well.


Yes he is serious about banks having big buildings and enslaving us. Bank CEOs get $9'000'000 per year in bonus after they get bailed out with our money, while we lose house, jobs, pay higher prices on everything etc.


Corrections under a better system are usually ruthless and fast, like in 1921, you never even read about that one, was over quickly. That's what we need. Painful and quick correction. The sooner the better.
I don't know what company you work for or who your CEO is. I know that Mitt Romney, as CEO, started the Bain Capital spinoff from Bain&Co, made a variety of private equity investments, and made a fortune doing it. His experience and understanding of the economy speaks for itself.

Ron Paul, again, has a very misguided view of economics, specifically money, from his belief in the fundamentally flawed Austrian school of thought. I have explained this over and over.

Opinions can be biased. Statistics are not. this is an important distinction you consistently miss. opinions are a point of view. a number is a fact. a set of numbers is a set of facts. data is neutral. it can certainly be spun, but the numbers themselves are facts. Proper application of statistical analysis leads to unbiased conclusions.

"you never even read about that one"?? how in the hell would you know what I have or haven't read about? why do you say such ridiculous things?

and when will you stop posting YouTube videos and opinions and post facts, numbers, objective analysis, empirical evidence that supports the positions these authors espouse? will you post specific evidence to back any of the claims made in the video?

kusok
01-23-2012, 09:38 PM
I don't know what company you work for or who your CEO is. I know that Mitt Romney, as CEO, started the Bain Capital spinoff from Bain&Co, made a variety of private equity investments, and made a fortune doing it. His experience and understanding of the economy speaks for itself.

Ron Paul, again, has a very misguided view of economics, specifically money, from his belief in the fundamentally flawed Austrian school of thought. I have explained this over and over.

Opinions can be biased. Statistics are not. this is an important distinction you consistently miss. opinions are a point of view. a number is a fact. a set of numbers is a set of facts. data is neutral. it can certainly be spun, but the numbers themselves are facts. Proper application of statistical analysis leads to unbiased conclusions.

"you never even read about that one"?? how in the hell would you know what I have or haven't read about? why do you say such ridiculous things?

and when will you stop posting YouTube videos and opinions and post facts, numbers, objective analysis, empirical evidence that supports the positions these authors espouse? will you post specific evidence to back any of the claims made in the video?



Government produced stats are garbage. They are made to look good, like everything is great. It's better to think for yourself and look around you, than believe government data. Proof of Mike's words is world we live in. Salary of a US soldier is 35k, Goldman Sachs CEO got 9'000'000 last year. Gas costs $4 per gallon, real estate is high, taxes are high and numerous, food is expensive, standard of living is going down, income is going down adjusted for inflation, unemployment is high, debt is massive, economy is poor, prognosis is grim, gap between rich and poor is growing, middle class is disappearing etc.

You are an internet troll, you can't "explain" why Ludwig von Mises is wrong. You can only pretend to know, and make self congratulatory posts. doesn't mean they carry any water.

Making money =/= knowledge of economics. Romney was born into a rich family. Simple. Even an idiot like Bush can succeed when born into the rich family.

You're also too sensitive and always bitch about negs (on spread by the way), it's an expression of speech that "one hardly ever hears about" something. I don't mean to point out your ignorance in this case.

32lax
01-23-2012, 09:57 PM
Government produced stats are garbage. They are made to look good, like everything is great. It's better to think for yourself and look around you, than believe government data. Proof of Mike's words is world we live in. Salary of a US soldier is 35k, Goldman Sachs CEO got 9'000'000 last year. Gas costs $4 per gallon, real estate is high, taxes are high and numerous, food is expensive, standard of living is going down, income is going down adjusted for inflation, unemployment is high, debt is massive, economy is poor, prognosis is grim, gap between rich and poor is growing, middle class is disappearing etc.

You are an internet troll, you can't "explain" why Ludwig von Mises is wrong. You can only pretend to know, and make self congratulatory posts. doesn't mean they carry any water.

Making money =/= knowledge of economics. Romney was born into a rich family. Simple. Even an idiot like Bush can succeed when born into the rich family.

You're also too sensitive and always bitch about negs (on spread by the way), it's an expression of speech that "one hardly ever hears about" something. I don't mean to point out your ignorance in this case.this is just too dumb to touch. historical facts are facts, no matter who reports them. you don't understand what evidence is, or what the process of proving something requires. at least real Austrian economists acknowledge that their theories have no relation to empirical evidence. you don't even get that, and instead throw out "$4 gas" and "$9mil bonus!" like it proves some point. And Romneys family may have paid for his education, but thats the end of it. he gave away his inheritance. NO ONE but you disputes his experience in private equity.

I don't know why I took the time to respond to another YouTube clip. again, you make no effort at an intelligent discussion, and instead resort to personal attacks.