Watch Peter Schiff on the Federal Reserve at Reason HQ. NOW!

FreedomWorks Foundation and Reason are co-hosting a special lecture by economist Peter Schiff as he responds to Federal Reserve Chairman Ben Bernanke's four-part College Lecture Series at George Washington University School of Business.

Watch the livestream, starting at 3:00, below:

Live Video streaming by Ustream

Comments

[Roger F. Gay]

Video not working ... stops, audio mostly off .....

[Colonel_Angus]

Everything about all federal government associated financial policy is completely stable, christfags.

[Clich? Bandit]

dude...back away from the mic a little...or reduce the gain.

[Uncle Pen]

Testing

[NartonT]

Just WHY do we need to pay any attention whatsoever to Ben Bernake's college lectures (??) ... or to him at all ?

Ya gonna vote him out of office or somethin' ??

[Derp]

We can't vote him out, so therefore we shouldn't bother discussing him? Yeah, that makes perfect sense.

[Great Britain and Ireland]

The Fed caused our housing bubble too!

[Old Mexican]

Re: Economics Ignorant Imbecile,

The Fed caused our housing bubble too!

Yes, it did.

Who do you think propped up those economies? The EU? Please.

[The Fed]

See? Your link doesn't even work! Proof that we had nothing to do with it!

[Old Mexican]

Here.

[Joshua Corning]

Nope the Fed created the mortgage/financial bubble.

The housing bubble was regional and due to zoning regulations.

Where zoning regulations were lax or non-existent prices did not rise much nor did they fall much after the pop...but the local banks sure failed.

[shrike]

Behindertsein ist sch?n

[Alack]

I like that CPI chart.

[Old Mexican]

It's great. I would like to have a link to it. I also hope Peter's lecture is uploaded to YouTube so I can link to it in my Facebook and blog. His lectures are always very good.

[Alack]

This is the first of his lectures I've seen, but I have How An Economy Grows and Why It Crashes; he's pretty good at communicating economic ideas in straightforward terms. Even got my Team Blue-leaning father to get mad at the Fed and fractional reserve banking.

[Old Mexican]

There's a great lecture from him on Youtube:

http://www.youtube.com/watch?v=npJ0CUT8d_Y

[Old Mexican]

We had deflation all through the 19th Century and there was no other time of greater economic growth than the 19th Century.

LOWER PRICES is the reward for greater productivity, not the other way around.

The greatest hobgobblin invented by Keynesian mountebanks: Deflation.

Hello, shrike!

[Mulitiple Choice]

If it were not for this chat room, libertarianism would be:

A) Irrelevant
B) Something hippies do
C) Um...CATO?
D) Drink!
E) Mary Stack
G) Fuck You!
H) What happened to F?
I) Warty
J) All of the above
K) What the

[Mulitiple Choice]

L) Your obsession
M) Your projection

[Animotion]

http://www.youtube.com/watch?v=Z0SUZRzp7Sg

[Old Mexican]

"BS, it is NOT political - it IS the Fed's fault. How do you think we cna have these big deficits if it not were for the Fed buying these bonds?"

"The politicians do not make the tough choices because they are being propped up by the Fed, but this will stop. When will it stop? When the dollar collapses."

[Old Mexican]

"Ben Bernanke says: The problem is that we don't have enough demand. That's not it! We have too much demand! He says: Households are not spending enough. Of course not, because they're broke!"

"We need the exact opposite, we need to spend less, save more, in order to increase capital. We consumed all capital, we have to restore it."

[The Copy and Paste Awards?]

And the Pasty? goes to...

Old Mexican!

[Old Mexican]

Hey, asshole - I'm transcribing directly from Peter as he speaks, by hand. Can you do that?

Idiot.

[The Copy and Paste Awards?]

You're doing god's work!

[Old Mexican]

You're god's poop!

[Old Mexican]

"I don't see going back to a gold standard as 'going back' but as moving forward. In fact, what we have is a move backward - our Founders knew the problems with fiat currencies and actually placed us in a progressive path towards a currency backed by something."

[Old Mexican]

"People think that raising the tax rates on the wealthy doesn't cost them at all, but it may cost them their jobs."

"During the 19th Century no wealth creater was taxed anything and we had the greatest growth levels. We need to go back to that model."

[The Copy and Paste Awards?*]

You do know that we're not actually paying you for this, right?

 

*Now known as The Copy and Paste and Transcribing Awards?

[Old Mexican]

Re: Economics Ignorant Imbecile,

You do know that we're not actually paying you for this, right?

World, meet the above idiot who thinks "Profit" means "Money" instead of "Psychic gain."

[The Copy and Paste Awards?*]

Psychic gain

LOL

[Old Mexican]

Re: Economics Ignorant Imbecile,

Psychic gain - LOL

World, meet again the idiot who believes "Profit" must mean money as if money is obtained by humans for its own sake.

Idiot here never heard of barter. Or economics for that matter.

[End Child Unemployment]

But think of the inequality! Robber barons! Child labor! Why won't someone think of the childrens!

[Old Mexican]

Re: End Child Unemployment,

But think of the inequality! Robber barons! Child labor! Why won't someone think of the childrens!

Those are the usual canards wielded by leftist historians with no clue or knowledge of economic history, what I call Argumentation Through Sob Stories. The reality is that the 19th Century witnessed the greatest increase in living standards for millions of people and made America the most prosperous nation in the world, until it squandered everything in a few years under Wilson. The gold standard allowed for greater government spending discipline and thus greater investment in the private sector. It allowed for progressively lower prices of goods and services. There hasn't been anything like it before or since.

[Mordant Piffler]

Ummmm . . . children . . .

[David Jette]

We were free-er? We got affluent from having a gold standard? Does this guy completely forget slavery and the inception of the industrial revolution????

[Old Mexican]

Re: David Jette,

We were free-er?

Not you, unless you are 150 years old.

We got affluent from having a gold standard?

And because of division of labor and protection of contracts, and of property.

Does this guy completely forget slavery and the inception of the industrial revolution????

What does ONE have to do with the OTHER, you useless turd? It was because of the Industrial Revolution that the standard of living was raised, through greater production. The Southern states were actually much poorer than the Northern states because of slavery, not richer because of slavery.

[k2000k]

The industrial revolution had little to no impact on slavery, save the invention of the cotton gin.

[Old Mexican]

Idiot: "All countries that were on a gold standard went out of the gold standard when they ran out of gold."

Schiff: "They didn't ran out of gold, they simply did not want the deflation, the prices to adjust to the level of gold they had in reserve."

Idiot: "But if we have a gold standard and we use it to buy things, we are going to run out of gold."

Schiff: "But that's not true, because the gold would flow back when the other side wants to buy something. But even if the world ran out of gold, we would simply make things ourselves instead of import them."

That is, we're not going to run out of gold.

[West Texas]

"They didn't ran out of gold, they simply did not want the deflation, the prices to adjust to the level of gold they had in reserve."

Of all the truths in the world, this is probably the most salient and least understood.

Deflation for consumers is a good thing.

Deflation for politicians, who need to run up debts that will never be paid so that they can continue the bread and circuses and keep getting elected to ride in limousines, is fucking gold kryptonite.

[West Texas]

pun intended

[darius404]

According to Mr. Genius, we're STILL in danger. After all of the paper money in the world flows into the US, we'll have ALL of it! What will the rest of the world do!?

[k2000k]

print more money....

[Old Mexican]

Matt, thank you so much for linking. Excellent lecture, great Q&A.

YouTube! YouTube! YouTube!

[mr simple]

We've got baskets of economic goods for you in the next room, by which I mean beer...

Nice to see Reason supports a good afternoon buzz.

[WaXies_Dargle]

Anyone know if this video going to be made available?

[heller]

Why did Matt damn freedom at the end?

[HLM]

Sorry, but Schiff isn't actually an economist. He may have read economics, but he didn't study it. This blog is filled with people who read economics. He studied finance and is an investment advisor, but I don't think it right to call him an economist. I recently went to the doctor and told him what I had diagnosed for myself, he ended up agreeing, but that I read medical information does not make me a physician.

[mr simple]

What do you think it takes to become an economist? There are a lot of people everyone refers to as economists who never received a PhD in economics, including both Keynes and Hayek.

[heller]

Peter Schiff is considered a financial economist, since he writes and debates on the subject professionally.

[darius404]

Unlike doctors, economists don't have a licensing requirement. If you can speak on it in a professional capacity, you can be called an economist. Now, I'm not sure all such people could be called GOOD economists (Bernanke comes to mind), but that doesn't mean he isn't an economist.

[Old Mexican]

Re: HLM,

He studied finance and is an investment advisor, but I don't think it right to call him an economist.

By the same token, Isaac Newton wasn't a scientist - he didn't study a career in Physics.

Just because Schiff does not have a degree in economics does not mean he is not an economist. Just to compare, Paul Krugman has a degree in Economics yet he is not one in practice - he's instead a mountebank and a charlatan.

[k2000k]

A whore if you will, a dirty smelly skanky run down whore whose mouth has gone numb from overuse.

[heller]

Mary Stack is a cunt.

[Joe E]

How can I watch this? Is there a link?