Our scarcity is not of time nor energy but of solutions. The scarcity of the world is not of time nor energy but of mutual solutions. Wealth is better to be measured by degree of relevance of available administrations instead of GDP.
I mainly agree with Peter but I think he underestimates the problems in Europe. Europe is in biig trouble, EUSSR is going to fail sooner or later and leave utter devastation.
Democracy has failed because the people have surrended the politicians with too much power...
To those of you who think Zionism is to blame for the worlds condition Id like to say stop asking "who runs this or that organization" and start asking who OWNS these organizations. Stop looking at the front men of the federal reserve(Jews) and look at its owners who are the Vatican, British crown and the 13 Black Nobility families a.k.a. the Illuminati families(Schiff, Warburg, Winsor, Reynolds, Rockefeller etc..)
The Fed is a PRIVATE BANK. Operates for PROFIT. Guess who the shareholders are for the Fed? PRIVATE BANKS. Guess who the Fed is bailing out? PRIVATE BANKS. Sounds like the Fed is bailing out its owner's. No wonder these companies are TOO BIG TO FAIL. We need to fix the system.
m so pissed off - i listed my house for sale 1 month ago and was gonna put most of it into gold - and now look what has happened - gold up about 20% in one month (my house hasnt sold yet). Not sure i should sell it now - it would be like taking 20% less 1 month ago!. GODDAMMIT!
@lunasearevived ...I totaly understand what you are saying, but these two men know that this country is bankrupt and they know that we cannot continue spending money like drunken sailors. They have a policy of "stop kicking the can down the road and lets face the music already" Obama, Palin and all the other canidates still want to kick the can down the road..Ron and Schiff belives that the more we kick the can the more painful the innevitable collapse will be! So lets get it over with already!
Okay lets be realistic here, precious metals are going to end in a nasty nasty bear market that is a fact... my question to the viewers is what is your opinion of when or what triggers will cause it?
I mentioned on my Show and Blog in late July that it is interesting that Gold and the Dollar were both going up at the same time. It's not often that you see that. This suggests that there is genuine demand for gold and it's not just moving because of a weak dollar...
The web site you plugged at the end of this video wants personal info for a 15 page report? What's with the infomine Peter? Are you taking directions from the order like Dr. Paul's wife and kids are? Smells like controlled opposition.
The problem with buying gold is that it is becoming scarce. The rush to gold will drive its price to prohibitively high levels. Gold will also tank before long.
Isn't gold rising in every other currency in the world? If gold were rising in dollars but falling in other currencies, that would be a sign worth reading, but when gold is going up in every currency (or just about, I'm not sure), there is something else at work.
Rick Perry is an idiot, I wouldn't vote for him to be a post office employee! His idiotic day of prayer and fasting to do the job that he is incapable of doing made Texas the laughing stock of the entire world. We don't need politicians who are religious extremists like G.W.Bush who coincidentally just happens to be another idiotic TX republican! I would vote for Karl Marx before I would vote for any of the republican candidates with exception of Ron Paul.
@christo930 The worst thing about the republicans, is that economically, they are just like the democrats, but socially they are fascists. The modern GOP is just the Christian right, which is far from being classical liberals or even conservatives. At the end of the day, how does gay marriage effect YOU if you aren't gay? How does abortion affect YOU? Why do we need school prayer? Given the performance of our schools,you would think religious people would want to protect their faith!
Peter if these fiat paper currencies we all use and live by become worthless and fail then what will the new fiat currencies they create be based on in value? Gold? How would such a disaster that becomes more probable every week play out you think?
(Note, this question is for Peter and NOT all you armchair experts out there)
REPUBLICAN RESPONSE TO LIBERATION IN LIBYA by Edward Bruce Williams: "We will not accept Qaddafi's surrender without cuts to Social Security, Medicare and no revenue enhancements" - stolen
I would like to see silver coins of 10, 20 and 50 cents. Will cost a bit more to produce but I certainly would like to have them, handy. Then the whole idea of making G&S + other metals the way to pay gets a bit more shape.
@MrJdubb360 Now you are bringing up Headlines. Headlines are bogus and most the time wrong. Haven't you learned anything over the last God knows how many years. The news and headlines are bogus. How many times do the headlines have to be wrong before they start making sense to you and everyone else. Gold and silver are just good investments at anytime, people are just starting to notice and moving their money into metals. I don't need headlines to make my decisions.
With t-bills hitting a record low would this signify the fed exiting some of their positions?
In keynesian economics there is no control over a deflationary spiral, yet the devaluation in the US dollar and other currencies seems to be the un-intended consequence of stimulus spending, a deflationary spiral in the currencies as opposed to the broader econnomy.
@TheMetalPerson Oil responds greatly to mkt demand, as do other commodities like platinum, silver to some degree, etc. Gold does not have industrial uses (very few) that respond to the slowing economy. Gold is relate most to monetary circumstances, dollar, rates, etc.
So Oil is down huge on the thinking that the economy is slowing again while gold is up.
The whole reason I'd want gold or silver is to hedge against inflation, but what I need in life is oil. if the price of oil goes down, I no longer care about inflation. I do think the price of oil is going to come back up HARD though, otherwise people will sell off their gold as they see no inflation other than gold.
I'm not trying to say I'm right or anything, but these last few weeks have definitely been odd. I've always seen gold and oil going up and down with each other.
@TheMetalPerson To me oil prices being down means productivity is slowing in the economy in real time. Even though oil is a comodity its subject to the suply and demand stronger than gold and silver. This is because if business is slowing trucks arent moving means people arent traveling to work as much which means less vacations/ trips to the mall. which slowess down the economy less money flowing less loans to business Money is never lost just transfered or created
Of course I understand that. That's the basis of my question. Oil is clearly more tied to the real markets than gold is. If dollar demand for oil is low, it means I can get more oil with the dollar thus making gold irreverent. That's basically my point. If you have cash during the deflationary phase of a business cycle, you're in luck because the price of oil is lower. Gold should come down with oil as people have less money to spend.
@TheMetalPerson To me oil prices being down means productivity is slowing in the economy in real time. Even though oil is a comodity its subject to the suply and demand stronger than gold and silver. This is because if business is slowing trucks arent moving means people arent traveling to work as much which means less vacations/ trips to the mall. which slowes down the economy. Less money flowing less loans to business Money is never lost just transfered or created
@SchiffReport Hey Peter, if Ron Paul gets nominated as president, would you please consider running as his vice president? Or atleast as Treasury Secretary? Do this country a favor and do so! Thanks! Love your work.....God bless!
@8lig Nice use of language...by the use of your language I can tell you are about as mentally retarded as they come! 26 people gave me thumbs up...hmmm, seems to me like others are also "dumb fucks" huh? Mass dumb fucks? or is it YOU who is a dumb fuck! Do yourself a favor and hang yourself! Its because of idiotic people like you that this country is in a mess! People like you who break the American spirit, always negative, hatefull and down right a disease to sociaty!
@LetsgetphysicalAg i honestly don't think they can even solve the mess we're in. they are good describing what the problem is and what will happen, but to avoid such a thing from happening, now that's where the difficulty lies. Ron Paul or Obama or Palin won't be able to save a falling dagger.
@lunasearevived I agree. But I think I would add that, maybe it SHOULD fall, because it's wrong. A bad company goes bankrupt, right? Why can't a country? If it doesn't work, it doesn't work. The conversation should be what we will do after the collapse. Don't you agree? This is America's chance for real freedom. Let's let the violence end and not start it again, just be free and live together in peace, with new, competing currencies, without reinstating a monopoly on violence (the state)
@gradiu3rox although I wish it would be like the way you described, it's a bit too idealistic in my opinion. when america goes down, not only are we facing the largest worldwide depression for many years to come, we will also experience total chaos in the US where gun ownership is allowed, something like the situation in Greece combined with Libya, but many times worse.
This is a little off the topic, but China is in a housing bubble WORSE than the US, check out this NON spam video from australian tv about chinese retail estate with video of the empty citiies:
@edwardwills Yes China has a housing bubble but not worse than the US did because the US bubble was a huge credit bubble were people bought houses with no jobs or little money. Just look at the size of fannie and you will get a clue of the size of that crisis.
Tell me about it. It is not just China and Austrailia, it is also New Zealand and Singapore. When their bubbles burst it will tank markets worldwide not to mention the fact they increased and will increase their money supply heavily.
This is one of the reasons I do not enirely agree with Schiff's points. He laggs off on certain issues.
@Cyrus992 what bubbles in Australia and NZ are you referring to?? apart from house prices being a little inflated, i wouldn't say either of these economies are in a bubble
Oh really.. see Maloney's videos.. who I admire more than Schiff explains how their money supply expanded so much more than their population and real wealth.
@MrJdubb360 Gold is not at $1800+ because of fear. It's at that price because people are starting to realize it's a good investment. Your comment to me was platinum is more rare than gold. You can't compare metal to metal. All metals have different uses and will have different supply and demands at any given time. I was trying to show you that no one knows what will happen and those who predict the future of things show their ignorance. You have lots of statistics, statistics mean nothing.
here's the ultimate problrm with gold/sliver. 1st there is not enough on the planet to accomodate 7B+ people as as a currency. 2nd, just in the US alone people neither have the capacity to deal with precious metals as a population. Sure the dealers, brokers and banks can but the average joe schmoe can't. Dealing with metals became obsolete the moment modern banking was developed. If metals become king the banks become slaves and that won't happen. Banks need leverage and that means credit.
we had a gold standard before whereby paper currency was issued as a promisary noet in behalf of the gold. That's when the banks got involved, and in the early 70's during Nixon era we left the gold standard in favor of a fiat monetary system, except the world population is half of what it is today and there still was not enough gold. The value of all the gold mined in the world today is only about $9T, yet the value of just the assets of the US economy is $188T ....
if a new gold standard were instituted modern banking systems would instantly become obsolete and we'd be back in the wild wild west in a matter of weeks...simply put- civilization has evolved past the need for money in any form including gold...the mechanics of a money system period simply don't work... just like a new car- eventually it wears down and succombs to the influences without and eventually replaced with another that will eventually break down..world history does not lie.
@trollgoal "civilization has evolved past the need for money in any form including gold", which part of the earth are you talking about ever since we have gone off the gold standard large numbers of countries have virtually collapsed few countries that have survived are on their way to a collapse.
Peter, thanks for the info as always. Informative, objective, and well said. The only thing I do not understand is how you could say Japan's economy is vibrant. Its economy has been in decline since 1990 with no end in sight.
@FlipThatBond honesty in the order you gave democrat, democrat, IRS agent, idiot Vs traitor Humm I dont know sounds like America was given another choice By the builderberg grroup where Perry went to last year. That guy Perry helped run John Kerry's democratic campaign back in 2004 against Bush. Romney wrote the Obama care bill with drug company lobiests and hospitals, and insurance Co. Bachmann was the agent in IRS that seized property. you left out the only viable canadate Ron Paul a doctor
@deathmarch5 If Ron Paul doesn't win, America will eat itself alive. The only way the RP wins the primaries is if this currency crisis speeds itself up and happens soon..before the primaries start.
@SMWhit3out lol, if u think schiff has the power to influence the gold market ur either delusional or ignorant. don't u understand that the chinese gov't is running ads telling its citizens to buy gold? don't u know that foreign central banks are now net buyers of gold? s. korea, china, india have increased their gold holdings tremendously.
@MrJdubb360 Gold was legal to own in 1981 just as it's legal today. The price spiked from $35 in 1971 to over $800 in 1981 so there was definitely demand. Bernanke is a fool and a liar so don't listen to him. He will bail out to the max witch is the problem..he'll expand the balance sheet straight into hyperinflation. The main difference is that today, we haven't even began raising interest rates to get ahead of inflation! I10,000 millionaires can drive price just as well as 10 billionaires.
The doctor's not ignoring the high temp. He just tells himself "this thermometer is broken" and then uses another one. And he goes through many thermometers until he gets one that shows a normal temp even when the patient still has a fever.
@MrJdubb360 Based on history of the ratio. Avg is 16 to one in history. In Hunt Brothers times it got down to 10 to 1 and that was when interest rates got ahead of themselves, now interest rates are still way way low so the ratio has much much more to fall. What's that next dollar going to be?..a monstrosity of a basket of currencies?..I don't think that will get people to sell their gold. War, disease, and famine will come but we'll still need money and with hyperinflation, it will be PMs
@MrJdubb360 It's certainly not industry that will make silver soar, it's the coming collapse of fiat. Silver is money. The silver to gold ratio will hit 20 to 1 easy, 10 to 1 in a currency crisis which is very near, and possibly even 4 to 1 in hyperinflation if there is a worldwide mad dash of hundreds of millions of people trying to stop their life savings from disappearing in lockstep. Gold hits min. $10,000 in todays dollars in hyperinflation which means silver will be at least $2,500.
@MrJdubb360 People probably thought gold would never hit $1000. Realistically, how long can the world consume something before it is gone or extremely rare? Your comment seems a little short sided.
All fiats run their course and the dollar isn't exempt... I've been with gold since I discovered you before the crash, but I also think that some blue chips which supply the economy with necessaries fairly represent labor as effectively as gold, but at a higher risk...with that said, gold should be three times it's value pre crash so there is another 1000 to go...if the FED eases more next week, we may see ETF's start to make a run as a way to participate in the preservation of capital battle...
@pdelacruz1 Silver should break $1,000 by 2013. I see silver nearing $50 before Bernanke's speech Friday because of the huge expectation he announces QE3 but I think stocks must sell off much much more before he does..so next Friday he doesn't announce QE3 and stocks and silver go down until QE3 is announced and then silver goes nuts. It doesn't feel like the big money is able to resist a sell of in silver yet alongside a steep stock market sell off and the big money is still in control.
@pdelacruz1 I don't think a lot of people are selling stocks and then taking physical delivery of their cash...they just keep the cash at the bank or in a money market on their account that they hold stocks on.
Well I was watching cbs a few days ago and they said they was investigating all of the credit rating institutions, although cbs TALKED about S&P the ENTIRE time and at the end only talked about the 2 others for a few seconds, that is very misleading to do to people when we view you as news and independent!!! I am sick and tired of watching cnn and others having "specialists" on telling me what to think, I can think for myhself thank you!! I only watch cnbc now and thats for the Dow mainly.
@john25rs2001 In a true free market we would have free money/currency Gold and silver will naturally do well but we can use other items like oil etc as well.
Peter, perhaps your assumption is wrong that the S&P downgrade caused the market downturn. There is no necessary causality just because the two events happened to be at the same time. The market probably would have gone down anyway.
Gold is not just a safe haven against inflation but a currency without counter party risk. People in Europe are afraid to keep their money in the bank and buy gold with it. Gold stocks have counter party risk too, a company can go bankrupt even with high gold price.
@martintheguitarist Warren Buffett said that when you're buying gold, all you're doing is betting on what someone else will pay for it. So sure, it has counter party risk. If you buy land to produce your own food, you don't have to worry about the resale value; it's producing value for you.
@rxbladess This is how things work in the economy. The market places a value on everything. The problem with that statement is that nothing is really holding value other than gold. Yes, cash flow is important but maintaining value of money is also important. The best way would be to have appreciating cash flow.
@rxbladess I wouldn't make much of what Warren Buffet has to say. If not the government bailouts he would be broke. You apparently don't understand what counter party risk is. It's not a price guarantee. You may be able to buy food for a lot less than what it costs you to produce. Anyway, farmland is totally illiquid so this comparison makes no sense.
Peter always points out that inflation numbers are understated, but never questions the accuracy of the trade deficit. The parts for an ipad are produced in many different countries, which are then sent to China for assembly. China gets paid $6 for that work, but because the ipad says "made in China", it counts as a $200 export to the US. Apple then sells it for $600, here and abroad, which helps the trade balance even if Americans aren't actually producing it.
the powers that be fear people buying physical silver more than gold. I just love it. Have you ever noticed that whenever Ron Paul gets any traction the markets go wonky? Oh they are so worried.
No, Peter they don't. They been voting for these clowns for years now. Both Democrats and Republicans. It's how we got into this mess in the first place. Don't look for them to get a clue now after all these years. In the end when the shit hit's the fan, they'll be looking for people to lynch. They should just hang themselves instead, because the American voters will be the ones to blame for this mess. This is what democracy truly is.
@trollgoal Yeah, but what happens when you need things? Barter is clumsy and difficult. You will need natural money. Buy gold and silver along with those other things.
Suppose S&P got wind that they were going to be investigated. So they make a preemptive strike against the govt. Now they can make the investigation look like it's retaliatory. I don't know how else to make sense out of it.
What about the notion of China allowing inflation to continue and pumping in more stimulus to the people to make up for it? Or government mandated raises for workers?
Peter...if the economy crashes what are you gonna do with gold/silver?? are you gonna go take it to you broker or banker and trade them in??? for what- wothless paper currency???? or get on an airplane with it or go to your local Safeway or Shell station and buy groceries and fuel with it???? What are you going to do with gold and silver???
@trollgoal Why would you use it to buy cash if cash becomes worthless? If hyperinflation hits you can probably walk out to the sidewalk and pick some cash up off of the ground for free. You would use it to buy products. Cash is becoming less and less valuable which is why the price of everything keeps going up. We're having a currency problem which is why I'm investing in real money.
@trollgoal There are people now in your community that will change gold/silver for paper and vice versa. When/if the dollar's decline becomes painfully quick, merchants WILL start taking gold/silver instead of dollars. Anyway, all your questions can be answered by looking to the past. Gold/silver were money not that long ago and merchants everywhere accepted them.
when the dollar declines to the point that it looses are credibility and relevance and an ounce of gold goes from $1800 to $5000/oz...the chasm between the rich and the poor will be equivalent to the distance between the earth and the sun... know body will have any gold except for the filthy rich...and at that point it will be all out war, chaos and pandemonium...fuel, food, water and bullets will be the only thing worth anything...
@trollgoal Average poor suckers (me) are already buying silver & gold. Average people already see the dollar crashing relative to everything. The smart ones will buy up Real Money while they can. I suppose many people will be SOL though. "fuel, food, water and bullets will be the only thing worth anything..." That's incorrect. There is a practical need for money, and if there is no dollar, people will go back to what has been money for thousands of years. They already are.
oh I understand the details but when the doodoo hits the fan, who's gonna care?? here's a monologue...let's see how it plays out..."oh... you have gold? big deal!!! got any food...my family is starving???"
@trollgoal Look at countries where the masses are starving (Zimbabwe). What is one of the few things merchants will accept? Gold. So, don't tell me no one will want gold/silver when TSHTF, it'll be one of the few things anyone cares about.
@trollgoal Almost everyone has some gold & silver. Not in coins necessarily. But they have it nonetheless. Anyway, looking at history, people didn't use gold as day to day money, they used silver, copper, nickel. Silver is much more common than gold. The fact that most people DON'T have these metals yet goes to show that there's a shitload of latent demand. They WILL want it. More and more average people like me are buying it.
@trollgoal Just watch a Zimbabwe economic crisis video on youtube. They are buying food, clothing and shelter with little bits of gold and silver. Gold and silver are money via default and spontaneous order. They have been for thousands of years over the entire planet.
Peter? What do you mean "what took so long for S&P to downgrade?" It was because of the political squabbling and "late game" debt ceiling raise...CNN told me.
It has nothing to do with borrowing trillions of dollars with no spending cuts in sight. Because those sorts of things don't have anything to do with credit rating.
Now....back to the Cartoon News Network
BTW Peter whats all this business with gold? I prefer silver myself :-)
btw. Perry is an lunatic. He is approximatly a flat earth creationist. He thinks evolution is just a theory. Bah. Tea Party is disgusting seen from my european standpoint. America should stop wageing wars and stop spending money on military goods. And you should educate young people in naural sciences not with bibles like the taliban do with the koran.
Peter is right. FED Money and Treasurys are crap and i went into gold because of his analysis. But Gold can nt be the future for human kind. Because we will then be ruled by those who posses gold and silver mines and the biggest supply of it.
The price of gold is "like a thermometer"....IN BEN BERNANKES ANUS
but seriously these are the best of times, aren't they? I've been waiting for this shithouse to go up in flames for some time,,, maybe ti ist time a self serving, hypcritical, and shallow society got punk'd and takes it right up the ass....society sold out and put these people in power.,.,don't want to get my hopes up, but things look better every day
@NosoCOMINSOON He means accumulating physical gold. Gold stocks and GLD are only instruments for playing the price of gold. To really obtain the security of gold you have to have physical.
Our scarcity is not of time nor energy but of solutions. The scarcity of the world is not of time nor energy but of mutual solutions. Wealth is better to be measured by degree of relevance of available administrations instead of GDP.
Melki 4 months ago
I mainly agree with Peter but I think he underestimates the problems in Europe. Europe is in biig trouble, EUSSR is going to fail sooner or later and leave utter devastation.
Democracy has failed because the people have surrended the politicians with too much power...
grazatfahrer 5 months ago
Have not seen a video of PS for a while. Is he sick?
MsH1h1h1h1 6 months ago
This has been flagged as spam show
Financial Enemy of Greece, Ireland, Italy, Spain, Portugal, & America ----- Jew
1. Goldman Sachs CEO, Lyold Blankfein - Jew
2. IMF Deputy CEO, John Lisky - Jew
3. Ex IMF CEO, Dominic Strauss - Jew
4. World Bank CEO, Robert Zoellick - Jew
5. Ex World Bank CEO, James Woolfesen - Jew
6. Fed Chairman, Ben Bernanke - Jew
7. Ex Fed Chairman, Alan Greenspan - Jew
8. Obama Treasury Secretary, Timothy Geithner - Jew
9. George Bush Treasury Secretary, Hank Paulson - Jew
Stevie68000 6 months ago
I got free S & free secret daily trade ..if anybody looking for..
FreeSTOCKnolossROBOT 6 months ago
This has been flagged as spam show
To those of you who think Zionism is to blame for the worlds condition Id like to say stop asking "who runs this or that organization" and start asking who OWNS these organizations. Stop looking at the front men of the federal reserve(Jews) and look at its owners who are the Vatican, British crown and the 13 Black Nobility families a.k.a. the Illuminati families(Schiff, Warburg, Winsor, Reynolds, Rockefeller etc..)
ImtheEntity 6 months ago
The Fed is a PRIVATE BANK. Operates for PROFIT. Guess who the shareholders are for the Fed? PRIVATE BANKS. Guess who the Fed is bailing out? PRIVATE BANKS. Sounds like the Fed is bailing out its owner's. No wonder these companies are TOO BIG TO FAIL. We need to fix the system.
MrJetWave 6 months ago
Why is Schifftard mining Ron Paul's stooges?
8lig 6 months ago
It would be nice to get your report without giving my e-mail....
1776uspatriot 6 months ago
m so pissed off - i listed my house for sale 1 month ago and was gonna put most of it into gold - and now look what has happened - gold up about 20% in one month (my house hasnt sold yet). Not sure i should sell it now - it would be like taking 20% less 1 month ago!. GODDAMMIT!
BiggerThinking1 6 months ago
@lunasearevived ...I totaly understand what you are saying, but these two men know that this country is bankrupt and they know that we cannot continue spending money like drunken sailors. They have a policy of "stop kicking the can down the road and lets face the music already" Obama, Palin and all the other canidates still want to kick the can down the road..Ron and Schiff belives that the more we kick the can the more painful the innevitable collapse will be! So lets get it over with already!
LetsgetphysicalAg 6 months ago
Okay lets be realistic here, precious metals are going to end in a nasty nasty bear market that is a fact... my question to the viewers is what is your opinion of when or what triggers will cause it?
Trox118 6 months ago
I mentioned on my Show and Blog in late July that it is interesting that Gold and the Dollar were both going up at the same time. It's not often that you see that. This suggests that there is genuine demand for gold and it's not just moving because of a weak dollar...
WealthGuardShow 6 months ago
The web site you plugged at the end of this video wants personal info for a 15 page report? What's with the infomine Peter? Are you taking directions from the order like Dr. Paul's wife and kids are? Smells like controlled opposition.
R0nPaulFan 6 months ago
this is probably going to sound dumb but where can i but gold??? should i go to walmart and buy all the 24k gold jewelry?
eescalantejr 6 months ago
The problem with buying gold is that it is becoming scarce. The rush to gold will drive its price to prohibitively high levels. Gold will also tank before long.
bearmare 6 months ago
Isn't gold rising in every other currency in the world? If gold were rising in dollars but falling in other currencies, that would be a sign worth reading, but when gold is going up in every currency (or just about, I'm not sure), there is something else at work.
christo930 6 months ago
Rick Perry is an idiot, I wouldn't vote for him to be a post office employee! His idiotic day of prayer and fasting to do the job that he is incapable of doing made Texas the laughing stock of the entire world. We don't need politicians who are religious extremists like G.W.Bush who coincidentally just happens to be another idiotic TX republican! I would vote for Karl Marx before I would vote for any of the republican candidates with exception of Ron Paul.
christo930 6 months ago
@christo930 The worst thing about the republicans, is that economically, they are just like the democrats, but socially they are fascists. The modern GOP is just the Christian right, which is far from being classical liberals or even conservatives. At the end of the day, how does gay marriage effect YOU if you aren't gay? How does abortion affect YOU? Why do we need school prayer? Given the performance of our schools,you would think religious people would want to protect their faith!
christo930 6 months ago
Peter if these fiat paper currencies we all use and live by become worthless and fail then what will the new fiat currencies they create be based on in value? Gold? How would such a disaster that becomes more probable every week play out you think?
(Note, this question is for Peter and NOT all you armchair experts out there)
dobberdoss 6 months ago
REPUBLICAN RESPONSE TO LIBERATION IN LIBYA by Edward Bruce Williams: "We will not accept Qaddafi's surrender without cuts to Social Security, Medicare and no revenue enhancements" - stolen
coltor9 6 months ago
Maybe it's Bernanke who is secretly buying up all the treasuries? What other retards would buy treasuries?
johammbass 6 months ago
@8lig,
Lol, so Schiff even motivates all the foreign central banks that are buying up gold? Grow a brain cell or two
johammbass 6 months ago
Poor Schiftard, still pumping fear into the gold bubble when in fact the S&P downgrade meant absolutely nothing.
8lig 6 months ago
@8lig Dumbass, I hope you'll lose all your money.
TWSceptic 2 months ago
@TWSceptic
LOL! Another Schifftard expressing his twisted hopes.
8lig 2 months ago
Market will finish down again BAC is dropping like a rock...very important level is 6$ market could be in deep trouble ...
Montrealrealestate1 6 months ago
Silver is up 140.5% and Gold is up 52.3% since this date last year.
drac060 6 months ago
Peter Schiff is a psycho. He wants us all to be destitute, making Chinese wages. He's a shill for the bourgeoisie.
mistaspot1 6 months ago
@mistaspot1 somewhere, he is doing this for his father
MsH1h1h1h1 6 months ago
@MsH1h1h1h1 What?
mistaspot1 6 months ago
largest export is porn
BluesdesJours 6 months ago
Youre a rich fella just let the world burn. Thanks for trying to help.
Faroutpost69 6 months ago
I would like to see silver coins of 10, 20 and 50 cents. Will cost a bit more to produce but I certainly would like to have them, handy. Then the whole idea of making G&S + other metals the way to pay gets a bit more shape.
RockTheOcean4me 6 months ago
Gotta move off world.....
odin422 6 months ago
Very good content as always :)
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apalm20 6 months ago
I hope CNBC keeps downplaying gold as I increase my positions.
takerdust 6 months ago
(No offense) If a 1 minute clarification is needed the explain where we can listen Peter, it may be time to simplify.
fcmonnard 6 months ago
Pete, Get on Ron's ticket somehow
gooseCha 6 months ago
@MrJdubb360 Now you are bringing up Headlines. Headlines are bogus and most the time wrong. Haven't you learned anything over the last God knows how many years. The news and headlines are bogus. How many times do the headlines have to be wrong before they start making sense to you and everyone else. Gold and silver are just good investments at anytime, people are just starting to notice and moving their money into metals. I don't need headlines to make my decisions.
LGZEE 6 months ago
Rick Parry is just jumping on the band wagon to get support he's just a typical politician.
Shaunt1 6 months ago
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Financial Enemy of Greece, Ireland, Italy, Spain, Portugal, & America - Jew
1. Goldman Sachs CEO, Lyold Blankfein - Jew
2. IMF Deputy CEO, John Lisky - Jew
3. Ex IMF CEO, Dominic Strauss - Jew
4. World Bank CEO, Robert Zoellick - Jew
5. Ex World Bank CEO, James Woolfesen - Jew
6. Fed Chairman, Ben Bernanke - Jew
7. Ex Fed Chairman, Alan Greenspan - Jew
8. Obama Treasury Secretary, Timothy Geithner - Jew
9. George Bush Treasury Secretary, Hank Paulson - Jew
Stevie68000 6 months ago
RON PAUL
flyinbry 6 months ago
a couple thoughts;
With t-bills hitting a record low would this signify the fed exiting some of their positions?
In keynesian economics there is no control over a deflationary spiral, yet the devaluation in the US dollar and other currencies seems to be the un-intended consequence of stimulus spending, a deflationary spiral in the currencies as opposed to the broader econnomy.
curtly99 6 months ago
Peter, I obviously agree with you about gold and inflation, but how can you argue that this crash is inflationary when oil is following stocks?
I'm confused by this myself. Wouldn't it make more sense to short GLD (keeping all physical) while buying oil?
What am I missing here? Isn't oil also a good measure of inflation considering that's what I actually need to live?
TheMetalPerson 6 months ago
@TheMetalPerson Oil responds greatly to mkt demand, as do other commodities like platinum, silver to some degree, etc. Gold does not have industrial uses (very few) that respond to the slowing economy. Gold is relate most to monetary circumstances, dollar, rates, etc.
So Oil is down huge on the thinking that the economy is slowing again while gold is up.
pismo10 6 months ago
@pismo10
The whole reason I'd want gold or silver is to hedge against inflation, but what I need in life is oil. if the price of oil goes down, I no longer care about inflation. I do think the price of oil is going to come back up HARD though, otherwise people will sell off their gold as they see no inflation other than gold.
I'm not trying to say I'm right or anything, but these last few weeks have definitely been odd. I've always seen gold and oil going up and down with each other.
TheMetalPerson 6 months ago
@TheMetalPerson To me oil prices being down means productivity is slowing in the economy in real time. Even though oil is a comodity its subject to the suply and demand stronger than gold and silver. This is because if business is slowing trucks arent moving means people arent traveling to work as much which means less vacations/ trips to the mall. which slowess down the economy less money flowing less loans to business Money is never lost just transfered or created
deathmarch5 6 months ago
@deathmarch5
Of course I understand that. That's the basis of my question. Oil is clearly more tied to the real markets than gold is. If dollar demand for oil is low, it means I can get more oil with the dollar thus making gold irreverent. That's basically my point. If you have cash during the deflationary phase of a business cycle, you're in luck because the price of oil is lower. Gold should come down with oil as people have less money to spend.
TheMetalPerson 6 months ago
@TheMetalPerson To me oil prices being down means productivity is slowing in the economy in real time. Even though oil is a comodity its subject to the suply and demand stronger than gold and silver. This is because if business is slowing trucks arent moving means people arent traveling to work as much which means less vacations/ trips to the mall. which slowes down the economy. Less money flowing less loans to business Money is never lost just transfered or created
deathmarch5 6 months ago
@SchiffReport Hey Peter, if Ron Paul gets nominated as president, would you please consider running as his vice president? Or atleast as Treasury Secretary? Do this country a favor and do so! Thanks! Love your work.....God bless!
Ron Paul 2012
LetsgetphysicalAg 6 months ago 55
@LetsgetphysicalAg Forget Ron Paul. he will nevre be President. He is also too old now.
MsH1h1h1h1 6 months ago
@MsH1h1h1h1 Its that kind of thinking that makes this country a shit hole! Be optimistic not pessimistic!
LetsgetphysicalAg 6 months ago
@LetsgetphysicalAg
"If Ron Paul is nominated"
NOT A CHANCE IN HELL, Dumbfuck.
Old tired Ronnie needs to retire from his cushy government job of 23 years and get some rest.
8lig 6 months ago
@8lig Nice use of language...by the use of your language I can tell you are about as mentally retarded as they come! 26 people gave me thumbs up...hmmm, seems to me like others are also "dumb fucks" huh? Mass dumb fucks? or is it YOU who is a dumb fuck! Do yourself a favor and hang yourself! Its because of idiotic people like you that this country is in a mess! People like you who break the American spirit, always negative, hatefull and down right a disease to sociaty!
Ron Paul 2012!
LetsgetphysicalAg 6 months ago 2
@LetsgetphysicalAg
"26 people gave me thumbs up"
You stupid fucking CUNT, pull your head out of your ass, Ron Paul doesn't have a chance.
8lig 6 months ago
@8lig Typical neanderthal response! LOL!! Craw back to your cave!
LetsgetphysicalAg 6 months ago
@LetsgetphysicalAg
NOT. A. CHANCE.
8lig 6 months ago
@8lig NOT A CHANCE what? That you have a brain? LOL!! We all know that! Like I said....you need to go back to your cave!
LetsgetphysicalAg 6 months ago
@LetsgetphysicalAg i honestly don't think they can even solve the mess we're in. they are good describing what the problem is and what will happen, but to avoid such a thing from happening, now that's where the difficulty lies. Ron Paul or Obama or Palin won't be able to save a falling dagger.
lunasearevived 6 months ago
@lunasearevived I agree. But I think I would add that, maybe it SHOULD fall, because it's wrong. A bad company goes bankrupt, right? Why can't a country? If it doesn't work, it doesn't work. The conversation should be what we will do after the collapse. Don't you agree? This is America's chance for real freedom. Let's let the violence end and not start it again, just be free and live together in peace, with new, competing currencies, without reinstating a monopoly on violence (the state)
gradiu3rox 6 months ago
@gradiu3rox although I wish it would be like the way you described, it's a bit too idealistic in my opinion. when america goes down, not only are we facing the largest worldwide depression for many years to come, we will also experience total chaos in the US where gun ownership is allowed, something like the situation in Greece combined with Libya, but many times worse.
lunasearevived 6 months ago
This is a little off the topic, but China is in a housing bubble WORSE than the US, check out this NON spam video from australian tv about chinese retail estate with video of the empty citiies:
Dateline SBS China's Ghost Cities.
edwardwills 6 months ago
@edwardwills Yes China has a housing bubble but not worse than the US did because the US bubble was a huge credit bubble were people bought houses with no jobs or little money. Just look at the size of fannie and you will get a clue of the size of that crisis.
jezza1789 6 months ago
@edwardwills
Tell me about it. It is not just China and Austrailia, it is also New Zealand and Singapore. When their bubbles burst it will tank markets worldwide not to mention the fact they increased and will increase their money supply heavily.
This is one of the reasons I do not enirely agree with Schiff's points. He laggs off on certain issues.
Cyrus992 6 months ago
@Cyrus992 what bubbles in Australia and NZ are you referring to?? apart from house prices being a little inflated, i wouldn't say either of these economies are in a bubble
ylordjanitor 6 months ago
@ylordjanitor
Oh really.. see Maloney's videos.. who I admire more than Schiff explains how their money supply expanded so much more than their population and real wealth.
Cyrus992 6 months ago
zero rates good for gold
gonobdotcom 6 months ago
@MrJdubb360 Gold is not at $1800+ because of fear. It's at that price because people are starting to realize it's a good investment. Your comment to me was platinum is more rare than gold. You can't compare metal to metal. All metals have different uses and will have different supply and demands at any given time. I was trying to show you that no one knows what will happen and those who predict the future of things show their ignorance. You have lots of statistics, statistics mean nothing.
LGZEE 6 months ago
here's the ultimate problrm with gold/sliver. 1st there is not enough on the planet to accomodate 7B+ people as as a currency. 2nd, just in the US alone people neither have the capacity to deal with precious metals as a population. Sure the dealers, brokers and banks can but the average joe schmoe can't. Dealing with metals became obsolete the moment modern banking was developed. If metals become king the banks become slaves and that won't happen. Banks need leverage and that means credit.
trollgoal 6 months ago
we had a gold standard before whereby paper currency was issued as a promisary noet in behalf of the gold. That's when the banks got involved, and in the early 70's during Nixon era we left the gold standard in favor of a fiat monetary system, except the world population is half of what it is today and there still was not enough gold. The value of all the gold mined in the world today is only about $9T, yet the value of just the assets of the US economy is $188T ....
trollgoal 6 months ago
if a new gold standard were instituted modern banking systems would instantly become obsolete and we'd be back in the wild wild west in a matter of weeks...simply put- civilization has evolved past the need for money in any form including gold...the mechanics of a money system period simply don't work... just like a new car- eventually it wears down and succombs to the influences without and eventually replaced with another that will eventually break down..world history does not lie.
trollgoal 6 months ago
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@trollgoal "civilization has evolved past the need for money in any form including gold", which part of the earth are you talking about ever since we have gone off the gold standard large numbers of countries have virtually collapsed few countries that have survived are on their way to a collapse.
poseidonVI 6 months ago
Looks like a NEW GOLD STANDARD is unfolding itself
racenemo 6 months ago
Can gold sustain prices higher than platinum and rhodium ?
VivaMydick 6 months ago
Peter, thanks for the info as always. Informative, objective, and well said. The only thing I do not understand is how you could say Japan's economy is vibrant. Its economy has been in decline since 1990 with no end in sight.
PaulbylPaulbyl 6 months ago
★★★★★ to Peter! I got very nice free tool for S & P 500 - it's totally free and works fine ..if anybody looking for..
FreeSTOCKnolossROBOT 6 months ago
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Ron Paul 2012! End the FED!
rallycsx 6 months ago
Thanks Peter.. really appreciate your output.. it has made a huge difference to alot of people in Australia :)
angie7dino 6 months ago
A hero. Screw the system.
bowtie728 6 months ago
5 dislikes from 5 dumbasses
undekegamisou 6 months ago
people wont listen to st john the bap oh wait i mean peter schiff until it is too late where there is no turning the ship around
krillin876 6 months ago
decoupling between gold and euro
krillin876 6 months ago
@pdelacruz1 I don't know..if it's Perry, Romney, Bachman, or Palin Vs. Obama, I think Obama wins.
FlipThatBond 6 months ago
@FlipThatBond honesty in the order you gave democrat, democrat, IRS agent, idiot Vs traitor Humm I dont know sounds like America was given another choice By the builderberg grroup where Perry went to last year. That guy Perry helped run John Kerry's democratic campaign back in 2004 against Bush. Romney wrote the Obama care bill with drug company lobiests and hospitals, and insurance Co. Bachmann was the agent in IRS that seized property. you left out the only viable canadate Ron Paul a doctor
deathmarch5 6 months ago
@deathmarch5 If Ron Paul doesn't win, America will eat itself alive. The only way the RP wins the primaries is if this currency crisis speeds itself up and happens soon..before the primaries start.
FlipThatBond 6 months ago
Wow, check out the shirt... is that a John Travolta hand me down? RESPECT
ThebigTH 6 months ago
schiff, gold is going up because you keep telling people to buy it.
SMWhit3out 6 months ago
@SMWhit3out lol, if u think schiff has the power to influence the gold market ur either delusional or ignorant. don't u understand that the chinese gov't is running ads telling its citizens to buy gold? don't u know that foreign central banks are now net buyers of gold? s. korea, china, india have increased their gold holdings tremendously.
ftwbk 6 months ago 20
@ftwbk Yeah your right also Mexico just bought a billion in gold i think that has more impact then Schiff's viewers buying gold.
jezza1789 6 months ago
I Voted Mccain in 2008. I donated $50 to Ron tonight. Forgive my previous ignorance.
iivxtii 6 months ago
@iivxtii As opposed to voting for Obama?
SlothGamer60 6 months ago
I don't know why more people don't watch this. Truly an insightful and poignant look into the economic crisis the world is facing.
Esyvertson 6 months ago
@MrJdubb360 Gold was legal to own in 1981 just as it's legal today. The price spiked from $35 in 1971 to over $800 in 1981 so there was definitely demand. Bernanke is a fool and a liar so don't listen to him. He will bail out to the max witch is the problem..he'll expand the balance sheet straight into hyperinflation. The main difference is that today, we haven't even began raising interest rates to get ahead of inflation! I10,000 millionaires can drive price just as well as 10 billionaires.
FlipThatBond 6 months ago
The doctor's not ignoring the high temp. He just tells himself "this thermometer is broken" and then uses another one. And he goes through many thermometers until he gets one that shows a normal temp even when the patient still has a fever.
ohdaysoo 6 months ago
@MrJdubb360 Based on history of the ratio. Avg is 16 to one in history. In Hunt Brothers times it got down to 10 to 1 and that was when interest rates got ahead of themselves, now interest rates are still way way low so the ratio has much much more to fall. What's that next dollar going to be?..a monstrosity of a basket of currencies?..I don't think that will get people to sell their gold. War, disease, and famine will come but we'll still need money and with hyperinflation, it will be PMs
FlipThatBond 6 months ago
what are you doing working on saturdays?
DuvallSilver 6 months ago
Ante up, brothers and sisters. Let's make it a 3 million dollar birthday weekend for Ron Paul! Sell an Ag round or 2 and give the money to Ron!
Torgo1969 6 months ago
Long live Peter Schiff
MrDorkusMaximus 6 months ago
@MrJdubb360 It's certainly not industry that will make silver soar, it's the coming collapse of fiat. Silver is money. The silver to gold ratio will hit 20 to 1 easy, 10 to 1 in a currency crisis which is very near, and possibly even 4 to 1 in hyperinflation if there is a worldwide mad dash of hundreds of millions of people trying to stop their life savings from disappearing in lockstep. Gold hits min. $10,000 in todays dollars in hyperinflation which means silver will be at least $2,500.
FlipThatBond 6 months ago
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Financial Enemy of Greece, Ireland, Italy, Spain, Portugal, & America - Jew
1. Goldman Sachs CEO, Lyold Blankfein - Jew
2. IMF Deputy CEO, John Lisky - Jew
3. Ex IMF CEO, Dominic Strauss - Jew
4. World Bank CEO, Robert Zoellick - Jew
5. Ex World Bank CEO, James Woolfesen - Jew
6. Fed Chairman, Ben Bernanke - Jew
7. Ex Fed Chairman, Alan Greenspan - Jew
8. Obama Treasury Secretary, Timothy Geithner - Jew
9. George Bush Treasury Secretary, Hank Paulson - Jew
Stevie68000 6 months ago
@MrJdubb360 People probably thought gold would never hit $1000. Realistically, how long can the world consume something before it is gone or extremely rare? Your comment seems a little short sided.
LGZEE 6 months ago
Is it possible the fed is still the one buying treasuries???
chefjoey229 6 months ago
@chefjoey229
Yes, the Feds balance sheet is so big that they have substantial cash just from yields to buy more treasuries.
FreeGoldObserver 6 months ago
All fiats run their course and the dollar isn't exempt... I've been with gold since I discovered you before the crash, but I also think that some blue chips which supply the economy with necessaries fairly represent labor as effectively as gold, but at a higher risk...with that said, gold should be three times it's value pre crash so there is another 1000 to go...if the FED eases more next week, we may see ETF's start to make a run as a way to participate in the preservation of capital battle...
imataxslave 6 months ago
i saw this guy on tv
farthead4321 6 months ago
out of the frying pan into the fire!
muzzblack 6 months ago
This is normalcy bias in action.
YochananT 6 months ago
@pdelacruz1 Silver should break $1,000 by 2013. I see silver nearing $50 before Bernanke's speech Friday because of the huge expectation he announces QE3 but I think stocks must sell off much much more before he does..so next Friday he doesn't announce QE3 and stocks and silver go down until QE3 is announced and then silver goes nuts. It doesn't feel like the big money is able to resist a sell of in silver yet alongside a steep stock market sell off and the big money is still in control.
FlipThatBond 6 months ago
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This nonsense surge in Treasury was simply the work of Plunge Protection Team.
dlmaniac 6 months ago
@pdelacruz1 I don't think a lot of people are selling stocks and then taking physical delivery of their cash...they just keep the cash at the bank or in a money market on their account that they hold stocks on.
FlipThatBond 6 months ago
@pdelacruz1 If they hold cash then they are buying treasuries because if they keep it in money market, the money market buys treasuries.
FlipThatBond 6 months ago
Well I was watching cbs a few days ago and they said they was investigating all of the credit rating institutions, although cbs TALKED about S&P the ENTIRE time and at the end only talked about the 2 others for a few seconds, that is very misleading to do to people when we view you as news and independent!!! I am sick and tired of watching cnn and others having "specialists" on telling me what to think, I can think for myhself thank you!! I only watch cnbc now and thats for the Dow mainly.
kev492001 6 months ago
"All the gold which is under or upon the earth is not enough to give in exchange for virtue."
Plato
john25rs2001 6 months ago
@john25rs2001 In a true free market we would have free money/currency Gold and silver will naturally do well but we can use other items like oil etc as well.
bigboywasim 6 months ago
Peter, perhaps your assumption is wrong that the S&P downgrade caused the market downturn. There is no necessary causality just because the two events happened to be at the same time. The market probably would have gone down anyway.
Gold is not just a safe haven against inflation but a currency without counter party risk. People in Europe are afraid to keep their money in the bank and buy gold with it. Gold stocks have counter party risk too, a company can go bankrupt even with high gold price.
martintheguitarist 6 months ago
@martintheguitarist Warren Buffett said that when you're buying gold, all you're doing is betting on what someone else will pay for it. So sure, it has counter party risk. If you buy land to produce your own food, you don't have to worry about the resale value; it's producing value for you.
rxbladess 6 months ago
@rxbladess This is how things work in the economy. The market places a value on everything. The problem with that statement is that nothing is really holding value other than gold. Yes, cash flow is important but maintaining value of money is also important. The best way would be to have appreciating cash flow.
bigboywasim 6 months ago
@rxbladess I wouldn't make much of what Warren Buffet has to say. If not the government bailouts he would be broke. You apparently don't understand what counter party risk is. It's not a price guarantee. You may be able to buy food for a lot less than what it costs you to produce. Anyway, farmland is totally illiquid so this comparison makes no sense.
martintheguitarist 6 months ago
Peter always points out that inflation numbers are understated, but never questions the accuracy of the trade deficit. The parts for an ipad are produced in many different countries, which are then sent to China for assembly. China gets paid $6 for that work, but because the ipad says "made in China", it counts as a $200 export to the US. Apple then sells it for $600, here and abroad, which helps the trade balance even if Americans aren't actually producing it.
rxbladess 6 months ago
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14:19 "the real move in treasuries is gona be the collapse with the us dollar and the us economy, anyway on that note take care"LOL
nice, man
bmx4637 6 months ago
Comment removed
bmx4637 6 months ago
the powers that be fear people buying physical silver more than gold. I just love it. Have you ever noticed that whenever Ron Paul gets any traction the markets go wonky? Oh they are so worried.
lkquad10 6 months ago
"these people should see through it"
No, Peter they don't. They been voting for these clowns for years now. Both Democrats and Republicans. It's how we got into this mess in the first place. Don't look for them to get a clue now after all these years. In the end when the shit hit's the fan, they'll be looking for people to lynch. They should just hang themselves instead, because the American voters will be the ones to blame for this mess. This is what democracy truly is.
Cirris 6 months ago
yes the miners are finally reversing their 2008 slide
1betrman 6 months ago
Should I by Gold or Silver now?
STAB1L 6 months ago
I would buy land and food and fuel...
trollgoal 6 months ago
@trollgoal Yeah, but what happens when you need things? Barter is clumsy and difficult. You will need natural money. Buy gold and silver along with those other things.
joepeeler34 6 months ago
Paul/Schiff 2012
MrMi2sense 6 months ago 38
$10.31 donated by this guy to Ron Paul's moneybomb!
MONOPOLY35 6 months ago 5
GOLD NEW ALL TIME HIGH AT $1,881.40 oz
YouriCarma 6 months ago
Second-quarter GDP view cut after June trade deficit widened by $2.3 billion.
YouriCarma 6 months ago
I read that the QE3 might be already secretly underway, that would certianly explain the "strange" weakness in the dollar.
MushroomCloud666 6 months ago
Suppose S&P got wind that they were going to be investigated. So they make a preemptive strike against the govt. Now they can make the investigation look like it's retaliatory. I don't know how else to make sense out of it.
bammbamm12 6 months ago
@bammbamm12 They downgraded Venezuela..I wonder if that was to help save face to our bankster run government.
FlipThatBond 6 months ago
@FlipThatBond - Yeah - of all countries. And just when they're trying to bring all their gold back home. Strange world.
bammbamm12 6 months ago
What about the notion of China allowing inflation to continue and pumping in more stimulus to the people to make up for it? Or government mandated raises for workers?
nteowl2025 6 months ago
Peter...if the economy crashes what are you gonna do with gold/silver?? are you gonna go take it to you broker or banker and trade them in??? for what- wothless paper currency???? or get on an airplane with it or go to your local Safeway or Shell station and buy groceries and fuel with it???? What are you going to do with gold and silver???
trollgoal 6 months ago
@trollgoal There will always be a role for money and when fiat disappears..what will be used as money?...Probably gold and silver.
FlipThatBond 6 months ago
how is one going to spend gold & silver??? turn it in for cash???
trollgoal 6 months ago
@trollgoal Why would you use it to buy cash if cash becomes worthless? If hyperinflation hits you can probably walk out to the sidewalk and pick some cash up off of the ground for free. You would use it to buy products. Cash is becoming less and less valuable which is why the price of everything keeps going up. We're having a currency problem which is why I'm investing in real money.
FlipThatBond 6 months ago
how's a grocery store gonna break a $1700+ gold coin????
trollgoal 6 months ago
@trollgoal How does a store break a $100 bill? (hint: With smaller denominations)
svenp 6 months ago
who's gonna break it when only a small minority has gold???
I don't know anybody who owns any gold or silver???
I can walk into the grocery store now with gold (if I had any) and they would look at me like I was from another planet....
trollgoal 6 months ago
@trollgoal There are people now in your community that will change gold/silver for paper and vice versa. When/if the dollar's decline becomes painfully quick, merchants WILL start taking gold/silver instead of dollars. Anyway, all your questions can be answered by looking to the past. Gold/silver were money not that long ago and merchants everywhere accepted them.
svenp 6 months ago
when the dollar declines to the point that it looses are credibility and relevance and an ounce of gold goes from $1800 to $5000/oz...the chasm between the rich and the poor will be equivalent to the distance between the earth and the sun... know body will have any gold except for the filthy rich...and at that point it will be all out war, chaos and pandemonium...fuel, food, water and bullets will be the only thing worth anything...
trollgoal 6 months ago
@trollgoal Average poor suckers (me) are already buying silver & gold. Average people already see the dollar crashing relative to everything. The smart ones will buy up Real Money while they can. I suppose many people will be SOL though. "fuel, food, water and bullets will be the only thing worth anything..." That's incorrect. There is a practical need for money, and if there is no dollar, people will go back to what has been money for thousands of years. They already are.
svenp 6 months ago
you said it...there are people "now"...when the market goes down, those who have the gold will not be accepting US dollars for gold...
trollgoal 6 months ago
@trollgoal It's actually quite easy to literally break a gold coin. It is a very soft metal. Then you would just need a scale.
ksubr267 6 months ago
oh I understand the details but when the doodoo hits the fan, who's gonna care?? here's a monologue...let's see how it plays out..."oh... you have gold? big deal!!! got any food...my family is starving???"
trollgoal 6 months ago
@trollgoal Look at countries where the masses are starving (Zimbabwe). What is one of the few things merchants will accept? Gold. So, don't tell me no one will want gold/silver when TSHTF, it'll be one of the few things anyone cares about.
svenp 6 months ago
that's not my point....who has gold?? 1/1000 people??? the masses don't!!!
trollgoal 6 months ago
@trollgoal Almost everyone has some gold & silver. Not in coins necessarily. But they have it nonetheless. Anyway, looking at history, people didn't use gold as day to day money, they used silver, copper, nickel. Silver is much more common than gold. The fact that most people DON'T have these metals yet goes to show that there's a shitload of latent demand. They WILL want it. More and more average people like me are buying it.
svenp 6 months ago
@trollgoal Just watch a Zimbabwe economic crisis video on youtube. They are buying food, clothing and shelter with little bits of gold and silver. Gold and silver are money via default and spontaneous order. They have been for thousands of years over the entire planet.
bigboywasim 6 months ago
I just don't see it flying over here in the US...to many hand to mouths...
trollgoal 6 months ago
Peter? What do you mean "what took so long for S&P to downgrade?" It was because of the political squabbling and "late game" debt ceiling raise...CNN told me.
It has nothing to do with borrowing trillions of dollars with no spending cuts in sight. Because those sorts of things don't have anything to do with credit rating.
Now....back to the Cartoon News Network
BTW Peter whats all this business with gold? I prefer silver myself :-)
EndTheFedRes 6 months ago
hi peter thanks for the data and truth
rolficus 6 months ago
btw. Perry is an lunatic. He is approximatly a flat earth creationist. He thinks evolution is just a theory. Bah. Tea Party is disgusting seen from my european standpoint. America should stop wageing wars and stop spending money on military goods. And you should educate young people in naural sciences not with bibles like the taliban do with the koran.
pcuimac 6 months ago
Great video, always informing...
sktigerjs 6 months ago
Peter is right. FED Money and Treasurys are crap and i went into gold because of his analysis. But Gold can nt be the future for human kind. Because we will then be ruled by those who posses gold and silver mines and the biggest supply of it.
pcuimac 6 months ago
LIBERTARIANMONARCHY . COM
ecnerwal999 6 months ago
The price of gold is "like a thermometer"....IN BEN BERNANKES ANUS
but seriously these are the best of times, aren't they? I've been waiting for this shithouse to go up in flames for some time,,, maybe ti ist time a self serving, hypcritical, and shallow society got punk'd and takes it right up the ass....society sold out and put these people in power.,.,don't want to get my hopes up, but things look better every day
BabyButtSmell 6 months ago
So how are we supposed to INVEST in gold when Peter refers to this. Does he mean gold mining companies like GLD or buying physical gold.. Anyone?
NosoCOMINSOON 6 months ago
@NosoCOMINSOON He means accumulating physical gold. Gold stocks and GLD are only instruments for playing the price of gold. To really obtain the security of gold you have to have physical.
EnnesX 6 months ago
@NosoCOMINSOON physical gold homie... do not by paper equivalent..
88roro11 6 months ago
@NosoCOMINSOON but idk where to buy it im trying to find out my self.. ill let you know if i find any thing...
88roro11 6 months ago
@NosoCOMINSOON gainesville coins i was just told is a good source for silver and im sure gold as well
88roro11 6 months ago