RagnarokArrives (November 30, 1999 at 12:00 am)

You rich people should cry and weep! Terrible things are going to happen to you. Your treasures have already rotted, and moths have eaten your clothes. Your money has rusted, and the rust will be evidence against you, as it burns your body like fire. While here on earth, you have thought only of filling your own stomachs and having a good time. But now you are like fat cattle on their way to be butchered. You have condemned and murdered innocent people, who couldn't even fight back.

kc9gpj (November 30, 1999 at 12:00 am)

These people are idiots. Ron Paul for President 2012. Rand Paul 2010. Peter Schiff 2010. Paul Ryan 2010.

espada9 (November 30, 1999 at 12:00 am)

People in the media are soooooooooo stupid.

vinsong (November 30, 1999 at 12:00 am)

I'm Chinese

canadianwhaaat (November 30, 1999 at 12:00 am)

dayingyang0= idiot

canadianwhaaat (November 30, 1999 at 12:00 am)

well why do you think they take the risks i wounder... BECAUSE THERE INSURED. People simply wouldn't use that bank if they were such a risky one.... you sir are the naive one. Americans had better start listening to schiff, ron paul, marc faber, jim rogers and glen beck or their in for some hyperinflation.

dayingyang0 (November 30, 1999 at 12:00 am)

@gordonlightfinger Sorry gordon, but that is simply not true, and anyone that has a better understanding of bank management thought processes would know that. Peter's only thought ever it to destabilize the US economy, which would happen from the bank runs founded on nothing more than rumors as was common in the early 1900s. There were runs on the latest collapsing banks and FDIC insurance had nothing to do with it.

gordonlightfinger (November 30, 1999 at 12:00 am)

@dayingyang0 Yes, he is correct. If the FDIC did not back deposits, banks would take less risks with depositors' money. Moral hazard provided by the FDIC would not exist.

dan30may (November 30, 1999 at 12:00 am)

US it's a full of resources country in terms of basic needs: food, energy / minerals, etc. What it is occuring now is a re-birth, a lifestyle change. No more default-prone credit lines, less luxury and worthless spending. Scooters instead of cars, weekends on free parks, lunch-boxes, etc. It is not the end of the world...it is just the end of hyper-consumption era

dayingyang0 (November 30, 1999 at 12:00 am)

Peter is always more and more incompetent each time I see him talking on tv. He really thinks banks would act better with deposits if there was no deposit insurance? That's the most naive thing he has said in a while (and that's saying something). I wouldn't expect better from the son of convicted tax evader Irwin Schiff, but it amazes me how many people will listen to him. He has been a broken record for 2 decades. "Sell everything, buy gold". Look that the actual returns his clients have had.