Video – Mon 11 Jun, 2012

Peter Schiff Says Romney or Obama, the Crash Is Coming

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Al Korelin chats with Peter Schiff at the World Resource Investment Conference about the state of the U.S. economy, Bernanke, and the upcoming elections.

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Al Korelin

  1. On June 11, 2012 at 6:30 pm,
    John says:

    If the crash is due in the next four years shouldn’t we want ta socialist in power so those policies can be put away for at least a generation?

    • On June 12, 2012 at 10:56 am,
      Big Al says:

      You really think they would then be put away, John? I don’t know man!

      Big Al

  2. On June 11, 2012 at 6:56 pm,
    castanheiro says:

    Hi Big Al,
    Thanks as always for a good interview and great show.
    My point all along has been that no matter who gets elected, they are not going to be able to save us from the consequences of decades and decades of undisciplined spending and currency manipulation. Why is this even the focus with people like Schiff? It’s a forgone conclusion that we will and are imploding. This economy absolutely has to collapse under the weight of debt, guaranteed! We have to focus on what we can control and that is the fallout and rebuild effort. After the crash, there will come a time for a leader to bring cohesion out of chaos, hope out of despair, and a right and clear direction as opposed to this nonsensical plunge toward ruin. I’m NOT saying Romney is the perfect and best candidate for this job, but the question is and should be, “Who do we want to lead us out of the aftermath and destruction, Obama or Romney?” I believe this charge will fall on the shoulders of our next president. Of course, Romney was not my first choice, but he will be the nominee against Obama. Is there really a doubt as to which of these would be a better choice as leader?
    Just my two cents,
    I’m not judging anyone, just saying that I believe we have to look out a little further and focus on preparing for the greater calling of rebuilding this nation.

    • On June 12, 2012 at 10:58 am,
      Big Al says:

      Morning Mr C,

      You bring up a very good point.

      For me, at this point in time, it is very difficult to get excited about Romney.

      The near future will be very interesting and, I believe, dramatic!

      Big Al

      • On June 13, 2012 at 7:14 pm,
        castanheiro says:

        Hello Big Al,
        I hear you my friend. I’m not excited about Romney either, not at all. However, that being said, “given the choice” between Obama and Romney, which one are people going to choose? Too many good people, who love liberty and freedom, believe in a sound money system, and cherish gold and silver, have all but given up because Ron Paul doesn’t appear to have a reasonable chance to be the nominee. I don’t understand the mindset that jettisons all common sense and reason and says, “throw the baby out with the bath water”. I’ve got two bro-laws like that. And I can’t talk any sense into them. They are locked into a narrow way of looking at things, and by jove, nothing and no one is going to change their minds. It’s a “don’t confuse me with the facts or logic” mindset. I can get as emotional as the next guy, when I despair and hope seems lost, but we have to keep those emotions in check, as they will almost always lead people to make wrong and disastrous decisions. Reason and sound logic must prevail, always! All I’m trying to do is to ask people to think critically, and think some more. We must stay away from emotion-driven actions and let the head lead. This election is far too important. If several million voters decide to throw their votes to the opposition out of anger, we could very easily see this thing go to Obama. We’ve got to think and strategize. It’s not over unless everyone just gives up and throws in the towel. I, for one, am not ready to do that. One day, I want to be able to look in the eyes of my grandkids and tell them I acted smartly and did everything I could to preserve this once great nation.
        Al, you’re absolutely right. The future is going to be dramatically interesting!!

  3. On June 11, 2012 at 7:39 pm,
    Danny says:

    I didn’t know Ron Paul was out of the race?

    • On June 12, 2012 at 10:59 am,
      Big Al says:

      Of course Danny, theoretically he is not.

      Big Al

    • On June 13, 2012 at 7:20 pm,
      castanheiro says:

      As Al said, theoretically no, but practically speaking, and for all intents and purposes he is. I know its hard to let go of something you’re desperately hanging onto, hoping against hope that some unbelievable set of circumstances will occur out of the blue, and that in the last second, RP will come riding out on a white horse….NOT going to happen! Folks need to “face the music”, “accept the facts” as they are, not as they want them to be, and move on with a realistic mindset, saying, “OK, how do we win with what we’ve got, and how can I help make that happen?” Just throwing this out there for your consideration.

  4. On June 11, 2012 at 10:50 pm,
    Dennis Brophy says:

    Hi Big Al, good show, Peter Schiff and you are both Ron Paul supporters that`s all that matters. And as to castanheiro who will lead us out, is the question. Both Romney & Obama are not the leaders but the cheer leaders for the Banksters and the status quo of the planet of the apes(military machine apparatus), and we are to big to fail notion of big gov`t. The coming election will kept what we all want, but nothing we need. Who are the slaves now, why its everybody that voted for what we wanted, but not needed. Being for Ron Paul idea takes discipline of forthought for what we need, not merely just our wants. Just saw what the Freemasons of the founding fathers were of yesterday when our country was formed what has that lead to for us today—-A One World Government embracing an A-Bomb and loving it.

    • On June 12, 2012 at 11:02 am,
      Big Al says:

      HI Dennis,

      My thoughts right now are to write in Ron Paul because I don’t believe that it will make any difference who the next president is. The big difference could occur if the conservative control both the House and the Senate.

      We’ll see,

      Big Al

      • On June 12, 2012 at 3:19 pm,
        Jerry O^OTB says:

        BIG AL…..PRES.
        ALEX JONES …VP

  5. On June 12, 2012 at 10:33 am,
    Rick Lovallo says:

    Hi Al, just a few comments on your thoughts and wishes. First of all I realize that you are not an investment advisor but do yourself invest in a good number of precious metal miners. Now if the FED did as you and many other analysts wished, which is to stop stimulating the economy, then your investments would sink. This has been proven many times as each time the FED says no QE3 then the gold stocks drop. It’s as if you are investing in companies and then hoping you are wrong. Now I do agree that when times are good that is when governments should use austerity measures by raising taxes and cutting expenses BUT when times are tough they should do just the opposite by cutting taxes AND stimulating the economy. Yes the governments have wrongly spent themselves into this crises but it is too late now to cut which would only cause a global recession or depression and severe unemployment and possible riots everywhere. The only solution to this mess is to inflate (stimulate) the economy now and once it gets back on it’s feet THEN begin to cut. Otherwise, the rich will get richer and the middle class will disappear. I’m not too sure why a good number of politicians and economists hate Bernanke. The guy spent years studying the depression and then when the world is facing it these same politicians and economists think they know better. I guess it doesn’t say much for Ben’s education. I’ll tell you if I have to choose between inflation and depression I’ll always choose inflation. It may cost more for a loaf of bread but at least I’ll have the money to buy it because I’ll have a job. Don’t blame Obama or Romney or any other of the recent U.S. presidents for this mess. It all goes back to Nixon who took the U.S. off the gold standard and opened the world to fiat money. That’s my two nickels (I’m Canadian and we no longer have cents).

    • On June 12, 2012 at 11:08 am,
      Big Al says:

      Morning Rick,

      I completely agree with you regarding your comment pertaining to going off the gold standard.

      I purchase the miners for two reasons. First of all I believe in hard assets. Secondly, I feel that these shares would actually do well in very difficult financial times. Witness Homestake Mining during the Depression.

      I will admit that we are in completely uncharted waters and no particular action is guaranteed to be successful.

      Your comments pertaining to inflation versus depression are certainly valid assuming that it is not a severe hyper inflation.

      Thanks for you comments,

      Big Al