Peter Schiff: The next 4 years some bad things are going to happen to America, price controls, a new black market, nobody will want the dollar, if the Saudis would buy all the major mining companies they could corner the Gold Market. Gold would go to $5000-$10000 per ounce. They could put all Gold into a vault, create a new currency, with a Gold backing. MORE:
What the hell is he doing? Is he trying to bring about the total economic destruction of the world? There was a time when a person who did something like this would have faced a firing squad for being a traitor.
ReplyDeleteNot a traitor at all. He is informing the public that the US dollar is going to collapse anyway. Whats the sense in prolonging it? Its inevitable! Do away with the Federal Reserve, close some of the bankrupt banks, get rid of the wall street crooks and jail those government criminals. Start a new currency and make it legal tender money backed by GOLD. All these criminals that run the Federal Reserve should be on an island with their US dollars. Why should we starve, lose our homes, our jobs and carry fake bills on account of these criminals? GO! PETER GO!
ReplyDeleteThe economic destruction of the world happened in 1971, when the pricipals of Bretton Woods were abandoned. You were just too busy watching a ball game. The destruction is not what Peter says. The destruction is giving people for their products a piece of paper that does not represent anything.
ReplyDeleteIf you want some really interesting reading google Antal Fekete and read up on his recent articles on liquidation value of debt. Here, I will make it easy on you, you won't even need google,
ReplyDeletehttp://financialsense.com/editorials/fekete/2009/0212.html
The history of one stimulus package and bailout after another in Japan for 20 years. The result if the USA continues on the same stupid path:
ReplyDelete1990 Japan stock market 39,000
2009 Japan stock market 7,400
2007 Dow Jones Index 14,100
2027 Dow Jones Index 2,700 est.