I listen to CNBC all day long. Hey I need to follow the market... Sure the CNBC commentators have their problems. BUT Peter Schiff is a populist. I watched the segment and I liked how Peter was taken to task on providing a solution. And the only solution that Peter could come up with was, "let everything collapse..." Well folks that is not a solution. And his comment that China has no idea what they are doing. Oh Peter is such an idiot, and I do mean idiot. China is taking dollars and using it to fund purchases elsewhere on this planet. Look at their purchases in Venezuela, Ecuador, Brazil, Africa, and so on. China is more clever than most understand. They just don't talk about it...
No... His father is fighting the unfightable battle. Ever looked at his case? His arguments have been tried and tried and tried. He was given his due in court, and if after that you still stay by your arguments then you are a stubborn mulehead. For example he has arguments like: http://en.wikipedia.org/wiki/Irwin_Schiff that the United States Tax Court has no jurisdiction over Schiff; and or Schiff contended that because Federal Reserve notes were not backed by gold, they were not âincomeâ for purposes of the Federal income tax. This is called delusional...
I guess all the CNBC guys called the housing crash before 2005-2006 like Shiff did...right? Or have they ever been anything but bullish?
I have to agree. You have to pick your fights carefully. By the way the rest of the world also pays taxes, well maybe Cuba and NK don't and I am not sure about China... So if everyone else pays taxes, (except the communists) why Americans shouldn't do the same? Exactly my point. You don't mess with the IRS, old Irwin should know better, he was actually alive when Al Capone went to jail for tax evasion. "In 1931 Capone was indicted for income tax evasion and various violations of the Volstead Act. Facing overwhelming evidence, his attorneys made a plea deal, but the presiding judge warned he might not follow the sentencing recommendation from the prosecution, so Capone withdrew his plea of guilty. Attempting to bribe and intimidate the potential jurors, his plan was discovered by Ness' men. The venire (jury pool) was then switched with one from another case, and Capone was stymied. Following a long trial, he was found guilty on some income tax evasion counts (the Volstead Act violations were dropped). The judge gave him an eleven-year sentence along with heavy fines, and liens were filed against his various properties. His appeal was denied. In May 1932, Capone was sent to Atlanta U.S. Penitentiary, a tough federal prison, but he was able to obtain special privileges. He was then transferred to Alcatraz, where tight security and an uncompromising warden ensured that Capone had no contact with the outside world."
I believe one of them called him a communist before when he claimed a recession was coming. Which is why I'm skeptical when people here try to attack him for no reason and then run away when questioned.
The fast money dolts just love eating crow, don't they? How many times has Schiff been laughed off CNBC interviews, only to be proved right later?
I have been a fan of peter schiff since 2006..... I saw this yesterday, I have no clue why they bash this guy, he is the only one with commonsense, the rest of the fast money crew are idiots. Every time he is on fast money they laugh at him. I remember him on fox a few years back on bulls and bears, he was talking about the housing collapse and every single one of them thought he was crazy well we all know what happened next.
Listen and watch those 10 seconds and listen to all the laughter from all the fools and idiots at fast money when Schiff speaks this last sentence..... 6:34-6:44 "You got to understand what they are doing, the american public is going to pay dearly for ben bernankes incompetence, you should not be celebrating this, this is a disgrace"
Actually, as an uber-conservative, I don't mind the CNBC crew. Leisman's foolish analysis makes me laugh at how much he thinks he knows but how little he understands. Bill is the only one that bugs me. He's a real pompas a$$. I'd like to see him go.