Category Archives: Finance Videos

Peter Schiff Testimony Before Congress on Obama Jobs Bill

Hi everyone. Here is an interesting video that I came across on YouTube. I am quite surprised that the US Congress even bothered to invite Peter Schiff to testify, but I think it was a very smart move and I sincerely hope they take his recommendations to heart. Here is what Mr. Schiff had to say about this testimony:

Dear Friends and Supporters,

As many of you know, last week I was invited to Washington to testify in front of the House of Representatives Subcommittee on Government Reform and Stimulus Oversight. For that, we can thank Subcommittee Chairman Jim Jordan (R-OH).

The subject of the hearing was job creation in the United States – specifically, what the government can and can’t do to boost employment. While many people have asked me in the last few days why I even bothered to participate, I think it was a valuable experience. I don’t expect that anything I said will make an immediate impact on policy, but at least some of my opinions got a fair hearing in the halls of power.

After the testimony, I did have a few one-on-one meetings with open-minded Congressmen from both sides of the aisle. Maybe they were just being polite, but they had no obligation to talk to me, or even invite me, in the first place. So, I thank them for the opportunity.

Still, I don’t think those few open minds in the Capitol are going to be enough to keep this ship from sinking. There just isn’t enough time or a strong enough will for reform from the American people.

That is why it is so important for you to act individually to protect yourself and your family from the new age of stagflation. Please take the time to view my testimony, understand the problems we face, and align your investments accordingly.

The video at the top of this posting is a condensed version of the full testimony. If you wish to see the full testimony video look below (warning: it is over 2 hours long):

Frontline – Breaking the Bank

FRONTLINE’s Breaking the Bank tells the story of Lewis’ struggle to survive in this new financial order, where public outrage and government edicts are now as important to banking as shareholders and deposits. With his bank on the brink, Lewis now finds himself the subject of a shareholder revolt, congressional indignation, presidential pressure and the increasingly conflicting demands of private investors and government officials.

Read more:http://www.pbs.org/wgbh/pages/frontline/breakingthebank/etc/synopsis.html#ixzz1WGsxCs5M

Ten Trillion And Counting

The journey begins as FRONTLINE correspondent Forrest Sawyer takes viewers to a secret location: the Treasury’s debt auction room, where the U.S. government sells securities backed by the “full faith and credit of the United States.” On this day, the government is auctioning $67 billion of Treasury securities. The money borrowed will be used to fund services and programs that the government cannot pay for through tax revenues alone.

Observers warn that the United States’ reliance on borrowing to fund essential programs is a dangerous gamble. For the first time, investors are beginning to question the ability of federal government to meet its growing financial obligations, and fading confidence can have dire consequences. “You might have a situation where there is one day when the government says we need to sell several billion dollars of bonds, and nobody shows,” Economist reporter Greg Ip says. “No money to pay the Social Security checks, no money to give to the states for their Medicaid programs. Cut, cut, cut, cut, cut.”

Yet more borrowing is exactly what the Obama administration plans to do: hundreds of billions to bail out the banks and other financial institutions; tens of billions more for the auto industry; $275 billion for homeowners and mortgage lenders; and a giant $787 billion stimulus package to jump-start an economy spiraling downward. Just like the Bush administration before it, Obama and his team are going to borrow big.

“That’s the paradox of the situation that we’re in now,” observes Matt Miller, author of The Tyranny of Dead Ideas. “Government has got to run big deficits to stimulate the economy, deficits that would have been unthinkable … because government’s the only entity with the wherewithal to prop up a demand in the economy when businesses and consumers are all pulling back.”

Gold Value: Where to Now?

bullionvault

Gold value presentation from Paul Tustain of BullionVault

Gold remains materially under-valued, says BullionVault founder and CEO Paul Tustain – even now, after 6 years of almost continuous price rises.

Based on historical data, in fact – plus his expectations of future inflation – Paul Tustain believes the true value of gold is nearer $3,844 per ounce today.

Leading finance columnists have already called his gold value analysis “a bold view…giving more reasons to buy gold.” Paul’s new 5-part presentation shows why. You can download this video here, for free.

Part 1 – Gold fundamentals (17 mins)

Part 2 – Debt and Keynes (17 mins)

Part 3 – Commodities & our standard of living (10 mins)

Part 4 – Western currency devaluation (24 mins)

Part 5 – Valuing gold (23 mins)

Gold, says Paul Tustain, can “rescue your finances when things go badly wrong.” Its value today comes because “our governments have behaved very irresponsibly,” he believes, “and we’re now not so different from the ‘banana republics’ which have lurched from crisis to crisis over the last 100 years.

“I think our future is likely to look a bit like their past.”

Paul Tustain’s gold value of $3,844 is not a prediction of its future price; it is what BullionVault’s analysis says the precious metal is worth today on a risk-adjusted basis, calculated as an actuary would value insurance.

Gold’s value is open to debate, of course. So you can challenge and judge what you think gold is worth for yourself, using the Gold Value Calculator which Paul created for his research.

Download the Gold Value Calculator used in Part 5.

Please Note: This presentation is to inform your thinking, not lead it. Only you can decide the best place for your money, and any decision you make will put your money at risk. Information or data included here may have already been overtaken by events – and must be verified elsewhere – should you choose to act on it.

Quantitative Easing – Why your money is losing its value by the minute

money down the toilet

Have you ever wondered why when you think back in time you get impression that your money bought you more than it does now. Well, wonder not because it is not a mere impression but something that is happening for real. It is called inflation and it is an insidiously destructive force. It is capable of eating away at your wealth and in worst case scenario it can transform itself into something called hyperinflation which will wipe away the entire purchasing power of your money literally overnight.  Hyperinflation has happened in the past and it is in fact happening right now in Zimbabwe (see this Wikipedia link).

So how does inflation occur? First off permit me to clear one thing first.  Inflation is most often defined as a rise in the general level of prices of goods and services in an economy over a period of time. This definition is a bit misleading and superficial. A more accurate definition is that inflation is simply an increase in the total supply of money over a given period of time. The increase in the money supply is perpetrated by the world’s central banks (ie Federal Reserve, European Central Bank, etc.) They do this by basically PRINTING MONEY. One of the euphemisms for “printing money’ that central bankers use to befuddle and mislead you is “quantitative easing.” Quantitative easing is central banker lingo for “printing money like there is no tomorrow” As you can probably already tell quantitative easing is bad for you financial well-being.  I personally think it is important to understand this concept of quantitative easing, and I found a video that I believe will help you in grasping this concept.

I hope you enjoy the video. If you’d like to read a more detailed article on quantitative easing checkout this post on my finance blog.

Cheers,
Alan

The Economic Crisis No One Saw Coming: A Convenient Untruth

The Economic Crisis No One Saw Coming: A Convenient Untruth

August 9, 2010

By Elliott Wave International

The single most convenient untruth about the 2008 (and counting)
financial crisis is that it was unforeseen. For two years policymakers
have insisted “There was no way to know ahead of time” that
the liquidity boom would come to a screeching halt. Back in November
2008, in fact, the usually tight-lipped Queen of England herself
publicly described the turmoil of international markets as “awful” and
openly asked a panel of experts from the London School of Economics “Why
did nobody notice?

Her Majesty is right: Most financial authorities did
NOT notice the crisis before it was too late. Comedy Central’s “The
Daily Show with Jon Stewart” of all places provided the
most poignant evidence: A March 2009 video montage
shows executives and economists from the world’s leading financial
firms repeatedly forecasting continued upside strength in stocks,
plus renewed bull market growth in financials — right as debt
markets came unhinged and the US stock market headed into a 50%-plus
selloff.

Dubbed the “8-Minute Rap” (after the “18-Minute
Gap” of Nixon’s Watergate tapes), the Daily Show video feature
sent an equally powerful message, as the clip
below makes plain
.

Yet even as the mainstream authorities failed to detect the
economic earthquake moving below their own feet, somebody did “notice” well
in advance. That person was EWI’s president Bob Prechter.

The clip below is from a 2007 Bloomberg interview.
Clear as PLAY, the foreseeable nature of the crisis emerges from
Bob’s October 19, 2007 interview.

As the historic trend change began to unfold, Bob issued this
timely insight:

“We’ve seen the first crack in the credit structure
with a huge drop in commercial paper… These are the harbingers
of a change toward the downside for the stock market, commodities
including oil, and the debt market itself.”

Don’t believe the convenient untruths. Get objective market
analysis today. Download
this free report that contains valuable market forecasts directly
from the desk of Bob Prechter.

This
article, The Economic Crisis No One Saw Coming: A Convenient Untruth, was syndicated by Elliott Wave International. EWI
is the world’s largest market forecasting firm. Its staff
of full-time analysts lead by Chartered Market Technician Robert
Prechter
provides 24-hour-a-day market analysis to institutional
and private investors around the world.