Peter Schiff: America is so Broke We Cannot Even Afford Peace (Video)

In the following video, Gary Franchi of the Next News Network interviews Peter Schiff for his take on recent global events. To begin the interview, first Gary lists off the topics they’ll at least touch on during the interview. Those topics include: the global economy, the US election, the Feds latest move deciding to print trillions more dollars out of thin air, Obamacare’s imminent death on the nearby on the horizon, and Peter’s take on various recent geopolitical events or tensions.


Obviously you’ll want to listen for yourself, and for that reason I won’t ruin the interview with spoilers, but I will highlight three things that should make every American nervous, and realize it’s time to begin making preparations, and NOW!

First, this past week, North Korea launched and ICBM missile from a submarine toward Japan, in what was undoubtedly another type of test run for the North's nuclear weapons program. When asked what he thinks of another possible war, Peter’s response says it all:


“America is in no position to afford a war… heck… we’re in no position to afford peace… THAT is how broke we are…”

After some discussion about recent geopolitical events, Peter very matter-of-factly tells Gary that with or without a war, the U.S. is still going to have a financial crisis that will make 2008 look like child’s play by comparison. As part of that conversation Peter explains why Hillary is the absolute worst choice for anyone hoping for a prosperous America. Everything Hillary proposes, is exactly the opposite of what America needs. 

To put how bad Clinton's policy ideas are into perspective, Peter makes the analogy that her plan is akin to an alcoholic trying to drink themselves sober. The more the alcoholic keeps drinking (or in this case, printing money out of thin air to make good on whatever Clinton promises to give for "free" in exchange for votes), the worse rehab is going to be. Either that, or the patient dies. . 

Finally, before prescribing his recipe for how to fix the U.S. economy and prevent it from going deeper down into a depression, Peter and Gary discuss Brexit, its affect on the global and American markets, as well as which country is likely to leave the European Union next. Peter is quick to point out, our union of 50 right here in the U.S. is starring down far worse problems than any nation in the EU is, and Americans would be best to remember that and plan accordingly. 

When asked who he hopes will win the 2016 election, Peter gives a great response:

“That’s thing about elections. Someone has to win don’t they?”

Enjoy the interview. Afterward, is a masterpiece by Michael Snyder. In his article from Economic Collapse Blog, Michael confirms everything Peter says about a coming U.S. depression, and he uses actual real time numbers to do so. 


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With what we’re seeing unfold with Hillary’s health… perhaps now people finally get it, that Martial Law isn’t some far off abstract concept. It could be on your door tonight, or very soon depending how these next few weeks pan out… 


Michael Snyder writes: 

Why are so many men in their prime working years unemployed?  The Obama administration would have us believe that unemployment is low in this country, but that is not true at all.  In fact, one author quoted by NPR says that “it’s kind of worse than it was in the depression in 1940″.  Most Americans don’t realize this, but more men from ages 25 to 54 are “inactive” right now than was the case during the last recession.  We have millions upon millions of strong young men just sitting around doing nothing.  They aren’t employed and they aren’t considered to be looking for employment either, and so they don’t show up in the official unemployment numbers.  But they don’t have jobs, and nothing the Obama administration does can eliminate that fact.

According to NPR, “nearly 100 percent of men between the ages of 25 and 54 worked” in the 1960s.

In those days, just about any dependable, hard working American man could get hired almost immediately.  The economy was growing and the demand for labor was seemingly insatiable.

But today, one out of every six men in their prime working years does not have a job

In a recent report, President Obama’s Council of Economic Advisers said 83 percent of men in the prime working ages of 25-54 who were not in the labor force had not worked in the previous year. So, essentially, 10 million men are missing from the workforce.

One in six prime-age guys has no job; it’s kind of worse than it was in the depression in 1940,” says Nicholas Eberstadt, an economic and demographic researcher at American Enterprise Institute who wrote the book Men Without Work: America’s Invisible Crisis. He says these men aren’t even counted among the jobless, because they aren’t seeking work.


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So why is this happening?If you look at the inactivity rate for men in the 25 to 54 age bracket, it was sitting at just 8.1 percent in January 2000.

In January 2008, right at the beginning of the last recession, it was sitting at 9.2 percent, and by the end of the recession it had risen to 10.3 percent.

Today, it is sitting at 11.5 percent.

Remember, these are men that don’t even count toward the official unemployment rate.  They are not working, but they are not considered to be “looking for work” either.

So what are these men doing?

You may be tempted to think that many of them have decided to stay home and raise the kids as their wives go off to work.  But according to NPR, that is not what is happening

What the missing men aren’t doing in large numbers is staying home to take care of family. Forty percent of nonworking women are primary caregivers; that’s true of only 5 percent of men out of the workforce.

We do have the largest prison population in the entire world by far, and without a doubt that does play a role in these numbers.  However, a far bigger factor is the millions of men that have become content being dependents of the federal government.  More than 100 million Americans receive money from the government each month, and a lot of people (both men and women) have found that it is just easier to sit back and collect government checks than it is to go out and try to work hard for a living.

But of course the number one factor is the lack of jobs available.  I personally know people that have been looking for work in their fields for years and have not been able to get hired.  We have a major employment crisis in this nation, and it is only going to get worse in the years ahead as we continue to lose jobs to technology and millions more good jobs get shipped overseas.

nd a lot of the “jobs” that have been created during the Obama administration have been very low quality jobs.  Since December 2014, we have gained about half a million jobs for waiters and bartenders, but meanwhile we have actually lost good paying manufacturing jobs.  If we continue down this road, the middle class will continue to shrink.

In addition to everything that I have just shared, here are some other facts that are pertinent to this discussion…

-Right at this moment, there are approximately 102 million working age Americans that do not have a job.

-Nearly one out of every five young adults are currently living with their parents.

-The Wall Street Journal recently declared that this is the weakest “economic recovery” since 1949.

-Barack Obama is on track to be the only president in U.S. history to never have a single year when the U.S. economy grew by at least 3 percent.

The economy is far weaker than you are being told, the employment crisis is far worse than you are being told, and as I mentioned yesterday, the stage is clearly set for a new financial crisis of epic proportions.

And if we are going to see markets crash, this time of the year is a good time for it.  In fact,CNBC says that history tells us that this is the “worst period of the year for stocks”…

The worst period of the year for stocks has just begun — at least based on market history.

Over the entire 120-year history of the Dow Jones industrial average, Sept. 6 to Oct. 29 tends to be the worst period for the market. And more specifically, the last few weeks of September have been an especially bad time.

Someday when people look back at this time in history, they will not be surprised by how horrific the coming collapse will be.  The truth is that anyone with a lick of common sense can see that the greatest debt bubble in the history of the world is going to end badly.

No, what is going to amaze them is that the system was able to hold together as long as it did.  It truly is incredible that the debt-based, fiat currency Ponzi scheme that the central banks of the world have been desperately trying to prop up has been able to keep chugging along all the way to the middle of 2016.

How much longer can they keep the magic going?

I don’t know, but history tells us that time is not on their side…

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