The Golden Truth: Must-Watch Video From Peter Schiff On Inflation/Gold

Friday, September 4, 2009

Must-Watch Video From Peter Schiff On Inflation/Gold

Peter Schiff, who is mounting a lay-up Senate campaign against that crook, Chris Dodd (D-Connecticut), comments on the recent move being made in the gold and silver market. One trend going on, which I have pointed out, is that the buyers are finally challenging the short sellers, especially when it comes to demanding delivery of the underlying physical metal. He also opines, and is consistent with my view, that the next big drop in the stock market will be accompanied by a sell-off in the U.S. dollar and big flight to gold and silver for safety.

At the end he has some notable comments on the recent move by the Chinese Government to encourage its citizens to buy gold and silver: "They want their citizens to buy gold and silver...they want their citizens to own real money...They know gold and silver are going higher - they know it's a sure-thing because they are planning on dumping the dollar...The U.S. Government is telling its citizens to put faith and trust in little bits of paper that we're printing." Enjoy:

2 comments:

EconomicDisconnectFriday, 04 September, 2009
Nice!
As an aside,
I am way long gold and silver (loaded the boat in 2002-2004) so if I offer short term comments it is out of market respect today. Long term I am not sure why you would want anything else but the metals.
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Dave in DenverSaturday, 05 September, 2009
It's amazing how many people don't get it. The dollar is much closer to collapsing than most realize.

The biggest idiot out there with a public profile is that guy Mish. I can't believe how moronic some of his comments have been recently on dollar devaluation and deflation/inflation
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Why Gold?

Gold is the world's oldest currency. You exchange your fiat currency (dollars, euros, yen, yuan) into gold as an insurance policy against catastrophic Central Bank and Government policies which serve to destroy the value of fiat currencies and destroy democracy.

Gold can ONLY be considered an investment to the extent that it remains significantly and historically undervalued in relation to the fiat currencies against which its value is measured. Otherwise it remains the world's oldest currency and is completely free from the counterparty risk associated with currency by Government fiat (i.e. fiat currencies rely on a Government's "full faith and credit.")

Quote Of The Month Courtesy of "Jesse"

Unfortunately for Larry Summers, Ben Bernanke, and their friends at the BIS, they have not yet figured out how to print physical gold, silver, and other essential commodities, and the world is reaching the point where it might simply start ignoring the New York based markets with respect to essential commodities such as basic materials, oil, foodstuffs, and the like, as they become increasingly irrelevant, fraudulent, and Orwellian. And then where will the financial engineers be, except with no more excuses and no place to hide?

Here is the link to his entire commentary, well worth a read:

http://jessescrossroadscafe.blogspot.com/2010/07/gold-daily-chart-shock-and-awe-for.html

Great Quote From Jim Rogers On Govt CPI Reporting

JR: I mean, we have inflation now. If you go to the shop, whether it’s groceries, or education or insurance or health care, prices are going up for everything. The government lies about it in the US. Some countries lie, many countries don’t: Australia, China, India and Norway. Many countries don’t lie about it and acknowledge that we have inflation. Others lie about it, the UK and the US, but if you go shopping you know prices are up.

Q: Are you saying that the American Consumer Price Index (CPI) published by the US Bureau of Labor Statistics is a lie?

JR: In my opinion, yes, of course it is. Have you looked at it? They’ve changed their accounting several times in the past few decades. When housing was 20% to 25% of the CPI and housing was going up, they didn’t count it, saying rents weren’t going up, and then when home prices started going down, they counted it. It’s the same with many things. It’s staggering some of the tortuous reasoning that the BLS has used over the past 25 or 30 years. When the price of gasoline goes up, they say it’s not really going up because it’s better gasoline, better quality, therefore you’re getting more for your money. I mean, it’s endless, the stuff that they say and for some reason people sit there, although more and more people are catching on, and accept what the government says.

source: www.clusterstock.com

Quote of the Week

"The primary function of a Central Bank is to engage in the massive transfer of wealth from the middle class to the wealthy elite. The Federal Reserve was set up to do this with the blessing and support of Congress." - Dave in Denver

If you refuse to believe the above, please read "The Creature From Jekyll Island: A Second Look at the Federal Reserve" by G. Edward Griffin and then explain to me why the Senate voted down the Vitter Amendment and Congress refuses to pass a law requiring a full audit of the Fed, even though the Fed is using taxpayer-backed money to bailout Wall Street and Europe.