The best explanation for what happened to our current economy came in 2006, way before any crash, when Peter Schiff spoke at the 2006 Mortgage Bankers Convention (video at the end after the break). He explained in great detail exactly what was about to happen to our economy and why. He explained this to a group that was making money hand over fist and full of excitement over the expected further good fortunes coming to them in their future. After the speech one member of the audience stood up and asked “As a lender and a property owner… should I just slit my wrists now?”

That may have been a joke meant to mock Peter Schiff. Few wanted to hear what he had to say. Fewer would believe him. Not because what he said didn’t make sense, not because they had a deeper understanding, but because they just didn’t want to believe what he said could possibly happen. He wasn’t the only one saying the exact same thing, it’s just he was the most visible, vocal and articulate.

Peter Schiff is a very important person to listen to right now. Less of a modern Nostradamus and more of a modern Paul Revere, he has been warning us of a coming catastrophe. Warning that there was still time to correct our path. We laughed at him.

The following video is one of the most powerful videos I have ever seen:



(spread this around and share this video as much as possible)

How was he able to speak with such certainty back then about what actually came to be? Because economics is a science. Like anything else in nature, our economy follows certain laws. If you let go of an apple on a planet with gravity, it falls. If an animal doesn’t eat, it dies. If someone borrows a bunch of money he doesn’t have to throw a big party, he’s broke, he’s in debt, and he’s out of commission for a long time.

Peter Schiff is my biggest hero right now. At least my biggest hero who is currently doing heroic things. Not only is he one of the most insightful economists that I’ve ever seen; not only is he one of the most articulate communicators of high level abstract concepts; not only has he authored 4 massively insightful books in recent years; not only is he managing a large securities and commodities brokerage firm; not only has he just founded a new company that sells precious metals; not only is he making numerous TV appearances, numerous economic update video blogs and radio shows; but also PETER SCHIFF IS RUNNING FOR SENATE!!

THAT’S A HUSTLER!!



He is FAR from a normal political candidate. I LOVE the quote at the end: “Every Senator is going to know I’m there and not a single one of them is going to like it.” Hahahaha

As of today his campaign for Senate is over. He didn’t win the primary against Linda McMahon, former CEO of World Wrestling Entertainment, who committed $50 Million to her campaign. It’s unfortunate, the Senate would have been shaken up if he was there. Still, how he managed an intense Senate campaign in the middle of all his other daily accomplishments is anyone’s guess. But this is a guy who moves his ass and gets things done in his life. I have much to learn and live up to.

Peter Schiff is a rising star in the Freedom Movement. He was the economic advisor for Ron Paul’s last presidential campaign, and he strongly advocates for a completely free market. Though I do have a high level of political and economic understanding, I’ve just read Peter Schiff’s book Crash Proof a couple months ago and I feel like I haven’t gained so much insight and understanding from any other book in the last 10 years.

Peter Schiff has been railing hard against the financial policies of George W Bush and Alan Greenspan since at least 2002. Now he considers the combination of Barack Obama and Ben Bernanke as a continuation of Bush/Greenspan but at a dangerously higher scale leading to a tremendously bigger problem for us.

Unfortunately Time Magazine is an inferior publication to this Hustle Bear blog. And apparently the Hustle Bear Award for Man of the Year is more meaningful than the Nobel Prize. Because they simply got it wrong last year. The 2009 Nobel Peace prize was given to Barack Obama, and the 2009 Time Magazine Person of the Year award actually went to Ben Bernanke.

Peter Schiff has some opinions on Ben Bernanke. He tells the Former Federal Reserve Vice Chairman his stance in this nice video debate titled “Ben Bernanke Has Never Gotten Anything Right”:



Actually, let’s let Ben Bernanke speak in his own words. What has he had to say?



This speaks volumes about America today. It’s insane that this guy Ben Bernanke in charge of a significant part of America’s monetary policy, making massive decisions that impact the dollars in your pocket. It’s even more insane that major publications like Time Magazine praise this guy when he keeps embarrassing himself with horrible forecasts and horrible decisions.

Peter Schiff is one of the greatest economists alive today. Not because he has a crystal ball. But because his eyes are open while most of the world is blinded by “The Secret” of wishful thinking.

What does Peter Schiff have to say about America’s future? Not good. You must watch these 2 videos, they are incredibly insightful, important, and at the very least these are ideas to consider.





There are heroes out there today. I have no choice but to award Man of the Year to Peter Schiff. You’ll understand if you watch his epic speech at the 2006 Mortgage Bankers Convention. Not only will it give you significant insight into our fundamental economic problems of today, but you might receive more economic understanding in one hour than you received throughout your years in high school and college.

BEHOLD:



(click here for a transcript)





Bonus 1: This is good interview just before Obama took office





Bonus 2: Whoa! What a rant!

