A colleague of mine suggested I watch Peter Schiff’s speech to a bunch of mortgage brokers in 2006 in which he in essence predicts the complete collapse of the US mortgage and real-esate markets. It is truly incredible speech that is upsetting on so many levels. I found it so interesting that I will try to transcribing it, so that it can be accessible in written form (couldn’t find this particular speech transcribed) for translation into other languages. I do believe that EVERYONE should hear this. It is just a hint of what is to come, and we need to be prepared so that we can find alternatives when things start hitting the fan.
“Nov 2006 Peter Schiff Mortgage Bankers Speech Part 1 of 8 – on YouTube by EPAdmin”
You may also find this video interesting on Money As Debt – and how banks “make” money.
Read more for the transcript of part 1/8 of the speech.