Comments by "Sergei" (@sergeikhripun) on "Peter Schiff on the Economic Impact of The Coronavirus Shutdowns" video.

@thefinstasis Well, the Federal Reverse is actually not government. It's just a private bank(there's nothing Fedral about it) that can issue money and monetary policy. What the Fed is doing should be in the hands of the Treasury Department. Schiff said:"The government doesn't have any money, it only has the money that it takes from the people." That's complete BS. If Schiff was a regular working Joe Blow who said that, I could forgive that person's ignorance because most of people don't understand basic economics. Schiff who is a smug prick who said he is OK with $3/hr minimum wage who pretends to know everything about everything is just lying. He knows better. He knows that the Fed just gave the richest 1% and corporations $5 trillion and gave $1200 to regular peopel and not even everybody.Whenever a millionaire or a billionaire tells that regular people can work on $3/hr you know that person is FOS and a scumbag. The problem also is that Joe Rogan is not an economist. Rogan himself said he is an idiot when it comes to politics and economics I must say too. The Fed can create $16 trillion out of thin air and there's still no inflation. Dylan Ratigan said that they can do it over a prolonged period of time. They can't print $16 trillion without inflation. Schiff actually had a "debate" with professor Richard Wolf on RT about economics if you can call it a debate because Schiff used Bill o'Reilly's "debating strategy" of just yelling at his opponent and not letting him respond. Yes, on long term basis creating money out of thin air devaluates a dollar but it's a topic for a another discussion. What Schiff lies about is that government doesn't have money. His is either FOS or he doesn't know what his is talking about. And yes, the government can just print the money, the problem is who this money is going to. Because the US is an oligarchy, it only goes to 1% and Military Industrial Complex. It's socialism for 1% and capitalism for everybody else. "Holding U.S. Treasurys? Beware: Uncle Sam Can't Account For $21 Trillion." https://www.forbes.com/sites/kotlikoff/2019/01/09/holding-u-s-treasuries-beware-uncle-sam-cant-account-for-21-trillion/?sh=283eaefd7644
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Right away this guy is an idiot! The government doesn’t have any money. Because the US dollar is a reserve currency of the world they can print money out of thin air, GOP and Dems passes $5 trillion bailout to the richest 1% and corporations. During 2008 crisis the Fed gave the banks and corporations $16 trillion. This guy is full of sh#t.
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@thefinstasis If you want to know how economics actually works you need to follow professor Michael Hudson, professor Mark Blyth, professor Richard Wolf. People usually don't trust economist because they are always wrong but Mark Blyth predicted Trump and Brexit and Michael Hudson predicted the US going off the gold standard and petro-dollar and 2007/08 subprime mortgage crisis. And those people are never on MSM. Gee, I just wonder why.
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