A One-Percenter debates OWS Protestors

Did you know that working for a Wal-Mart manufacturer is akin to being a rape victim? How about that a lot of people don’t want lower prices?

Peter Schiff found out these gems and more when he went out to the Occupy Wall Street protest for three hours in Manhattan’s Zuccotti Park.

Perhaps the most illustrative moment of leftist discourse however comes toward the end of this short clip where the protestor asks Schiff if he wants to get rid of the EPA and Department of Education and when Schiff replies yes, the protestor calmly and coherently lays out some thought provoking arguments as to why that is an ill-advised opinion to maintain and backs it up with statistics revealing Schiffs claims that these departments are “wasting our money” to be wrong… JUST KIDDING. The protestor, with an Anonymous mask (the mustache guy from V for Vendetta) on his forehead cut off the person behind him trying to interject disagreement towards Schiff, saying “let me finish”, only to then deliver the announcement that he would no longer talk to Schiff because of that disagreement.

That is how these people think: “If you disagree with me, then you’re not worth talking to”. The man did follow up by asking “how could you want to” disband the aforementioned institutions but alas, the question was rhetorical, as when Schiff began to answer, the protestor just regressed back into calling him a fool and an idiot.

Schiff is no ordinary observer. As the prinicipal of the financial firm Euro Pacific Capital, he’s a full-fledged and unapologetic member of “the 1 Percent.” As an outspoken radio show host (listen online here) and commentator, he not only predicted the housing crash and financial crisis, he railed bank and auto-sector bailouts as they were happening. Schiff believes that capitalism offers is the only hope for young, frustrated people to have a vibrant and prosperous future (get information on his latest book,How an Economy Grows and Why it Crasheshere). So he went to Occupy Wall Street to engage and debate the protesters.

Touring the Occupy Wall Street scene in New York with a sign that read “I Am the 1%, Let’s Talk,”Schiff spent more than three hours on the scene, explaining the difference between cronyism and capitalism, bailouts and balance sheets, and more.

“The regulation we want is the market,” said Schiff. “That‘s what works.”

Schiff describes himself as “sympathetic” to the plight of the OWS protesters, but thinks their anger is misdirected at legitimate business interests and should be better at the White House, Congress, the Federal Reserve, and the crony capitalists they’ve bailed out.

Below is the full 20-minute-long video in which “Schiff spars with an eclectic mix of protesters and gets at least some of them to reassess where the blame for financial crisis really lies”.


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