Peter Schiff: Gold is Money

[daviddupuiscdv]

BOOOOOOOOOOOOM

[mattc941]

PETER SCHIFF IS the smartest person I have ever seen, I want him involved with Ron Paul as his economic advisor when he becomes president next year.

[schassse]

gold is not money. gold is like any other goods, its value fluctuates. money values always fluctuates against other currencies. gold is the same price all over the world, therefore gold is not money. Bernanke was right when he said gold is not money.

[DigitalShaolin]

@schassse Gold has been money for thousands of years and has never stopped being money. Bernanke is never right about anything.

[MsH1h1h1h1]

@DigitalShaolin everything is money. we call this barter. gold becomes money only when your country decides that gold is money replacing temporarily the current currency. you should complete your school

[DigitalShaolin]

@MsH1h1h1h1 So you agree with me then.

[schassse]

@DigitalShaolin everything is money. we call this barter. gold becomes money only when your country decides that gold is money replacing temporarily the current currency. you should complete your school. but no countries are going to allow gold as money. it would be impossible to handle with the computers.

[DigitalShaolin]

@schassse Seriously? You could still have a 100% non reserve gold standard while using computers, lol. The important parts of a future gold standard are that your bills can be converted anytime you want into real gold. You could still carry around paper money that represents that gold, and you could still transfer money electronically. And if gold isn't money why do you think every central bank in the world is buying gold and keeping it as reserves? Ben Bernanke's dumb ass couldn't answer that.

[Objectivist1994]

Also, he was right about the 2,000 dollar an ounce thing...just a few years off and by 200 dollars.

[911fakevictims]

Schiff sounds like gollum "my prrreeeeccccciiiiooooouuuussss metal" I do say Pete's got a kinda gollum look to him too! You can see it in those sociopathic psychotic EYES WIDE OPEN! Yesssss myyy preeettttty GOOOLLDD ISSSSS MONNNEEE!! 

[Objectivist1994]

@911fakevictims You sound like Friedman calling us "Gold Bugs".

[HoustonTexas457000]

I'd rather be holding less dollars with stronger and more purchasing power, than more dollars with less purchasing power... do you hear that stinking host? " of course, we would be making about 500$ a year " ?? Everyone just loves these high numbers and the idea of lots of dollars.. Bullshit! is what it is.

[edwardwills]

Amazing how the male news interview is trying to defend America and refuses to believe his country is bankrupt.

[Antiks72]

Wanna see deflation? Go to a gold standard.

[AoifeStair]

@Antiks72 Wanna see deflation? become stupid and think that gold is worth nothing. facker.

[Antiks72]

@AoifeStair Where did I ever make the claim that gold is worth nothing? It's highly inflated right now.

[911fakevictims]

This schiff guy is about as jew banker as a jew banker can get. See, HE KNOWS HE IS LYING TO YOU. But he LOVES LYING TO YOU, BECAUSE HE WILL GET FILTHY STINKING RICH OFF OF YOUR IGNORANCE AND MISFORTUNE. AND OFF OF YOU BELIEVING HIS STINKING JEW BANKER LIES! "PRINTING MONEY" HAHAHA FUCKING LIAR. ALL MONEY COMES INTO EXISTENCE AS EVIDENCE OF A DEBT, A LOAN. NOBODY IS JUST "PRINTING MONEY" AND HANDING IT OUT. IF THEY ARE GIVING IT AWAY DID YOU GET ANY? I SURE DIDN'T. SCHIFF IS A JEW BANKER LIAR!

[hummarstra]

@911fakevictims U R A fucking idiot.

[911fakevictims]

@hummarstra If the goddamn paper money is so "worthless"as you claim SEND ALL YOUR DOLLARS TO ME!

it's not doing you any good now is it...because its so worthless right? So Fedex all your cash to me. I'LL TAKE ALL YOU GOT. Then you can go down to COMMIEMART with your 20 gold piece or your silver liberty and see how far that gets you....

[goph000]

@911fakevictims Do a quick test for me. Grab every single dollar bill you can find. Check your pockets, your wallet, around your house, just get a nice decent-sized wad of bills in your hand. Now, thumb through every single one of them, and look at the year they were made. Notice anything peculiar?

[911fakevictims]

Anyway whats so fucking good about high prices? They are only "good" if you are selling... AND THE JEW BANKERS ARE ALWAYS SELLING!! You know WHAT THEY ARE SELLING YOU? HUH? DEBT AND USURY, UNEARNED INTEREST THAT YOU MUST PAY BACK. COMPOUND MOTHERFUCKING INTEREST! THATS WHAT YOU"RE BUYING! UNPAYABLE DEBT! DEBT THAT CAN'T BE PAID BACK BECAUSE IT IS NEVER CREATED WHEN MONEY IS CREATED! PRINCIPAL IS CREATED BUT NOT THE INTEREST! DEBT IS THE TRUE AND REAL "CAUSE" OF INFLATION NOT "PRINTING MONEY"!

[MawcDrums]

@911fakevictims Yeah like I'm going to listen to a guy who believes that 911 was a conspiracy LOL

[911fakevictims]

GOLD STANDARD HAHAHA "GOLD IS MONEY" JEW BANKER LIES.

JEW USURY IS THE PROBLEM. NO MORE NATIONAL DEBT! FUCK THESE BANKERS, USURERS, AND GOLD HOARDERS TRYING TO TELL US GOLD IS MONEY.

THATS BECAUSE THEY ALREADY OWN ALL THE GOLD AND YOU"LL HAVE TO BORROW IT FROM THEM TO LIVE! WE WANT STATE BANKS ISSUING DEBT FREE CURRENCY. LETS GET RID OF THE PARASITES LIKE PETER SCHIFF AND THE INTERNATIONAL CRIMINAL CENTRAL BANKERS! DOWN WITH DEBT MONEY!

[911fakevictims]

WHY IS HE SELLING HIS "PRECIOUS MONEY" GOLD FOR WORTHLESS FRN's? What about when gold went from $850 to 250? It was'nt such a good investment when it lost 70% of its value against those worthless paper FRN dollars in the 80's was it? Petey's just like his criminal jew banker friends. He makes money for doing nothing. Go to a bullion coin shop. You'll see. The surcharge is 10% over spot to buy and !0% under spot to sell! He could care less about the price as long as he's churning sales!

[aviomaster]

18.346 Views on this. and Britney Spears without underwear 18.000.000 Views.

[letnamsiew]

11-08 2010 gold today AT $ 1405 AN OUNCE ! GOP CONGRESS IS LIKE HAVING BUSH BACK !

[bobby4500]

gold is up again

nearly 1400 $ an ounce

[justludicrous]

Don't those two anchors look silly now; gold approaching $1,400 an ounce, no end in sight and it's major gains are yet to come. The dollar isn't coming back, it has lost over %95+ of it's value since 1913; the dollar is on a slow downward spiral, with an occasional movement upwards, until it hit's zero.

[boipinoi604]

Save em all!

[GMHGTO]

for the last month we've had record high everyday for Gold, $1358 oz.

[c0nsci0usness]

Love how Schiff just manhandled these dumbasses.

[AllTheSame711]

Awwww those were the days when the national debt was just 10 trillion .............. what 14 trillion now ? (8/1/10)

[AllTheSame711]

Can you do anything with stocks other then just " Hold" it?

[aviomaster]

You can have 2 trillion Zimbabwe dollars and be able to buy Car CD player .

Purchasing Power of money is the most important thing about MONEY.

[ryan84160]

What is the "real" intrinsic value of gold? Why is it better than paper money? Whith something like oil I can obviously see why it goes up in value, but why does gold have value ? Just because because it is shiny and can be used to make jewelry? I am asking because I honestly do not understand.

[tothemax01]

No gold is metal. Cash is money - the most liquid form of asset. Gold is not as liquid as cash. It must be weighed, its purity can not be determined on the spot, and the physical weight increases as the value increases. This makes it much less liquid than a legal tender, such as a national currency note. The problem lies in the federal reserves legal right to inflate the supply of notes, not in the actual note system itself.

[Katzenmannforreal]

why are our country run by morons?

peter schiff for president please ^^

[sebek23b]

@Katzenmannforreal because you chose them?!

[aviomaster]

- Peter Shiff is amazing ....

Amercians are in DEBT to their eyeballs ....

[aviomaster]

Peter Shiff is right .... 100% ...

Gold Price was pressed down by IMF .... IMF selling Gold to keep dollar from falling ...

Dollar right now is like a musquito in the middle of the Hurricane Cathrina ...

[PilsenB]

@aviomaster Is the IMF selling gold to protect the dollar ... or are they prepping us for the mother of all fiat currencies -- a global fiat currency? Perhaps they see Asia buying up gold and want to head off that trend, so that the old-guard Western bankers can stay in control of the world's money supply? In any event, it doesn't seem to be working. Gold keeps going up and paper keeps going down.

[aviomaster]

Peter Shiff is right 100% ...

But what he wants , will make every American poorer , Americans would be more free from taxes , but poorer.

70% of USA economy is consumer spending , You can not cut credit and expect high employment ,, Raising interest rates will make money hard to get.

Current system is not possible ,,, something will have to change ...

[TheSophist2007]

its wrong what that newscaster said

its only the rate of inflation that comes back down. The past years where there is inflation is cumulative, the only way of getting rid of it is deflation. Not bringing inflation under control.

thats why in the long run paper money becomes even more worthless.

[sexybritgent]

i work in pawnbroking gold is way forward the jump has occured very quick as off late. apparantly china is swapping usa bonds with iran for oil. iran will crash usa economy. bankrupt usa wont be able to attack iran and have to leave middle east. china cross with usa over google, arms/taiwan, and dala lama. so iran is crashing the usa economy for them.

[ny151151]

It is December 19th 2009. today gold is at 1112/oz... watch it take out 1200 again in january and continue to 1400 by may. that is if dollar does not collapse by then. if it does 2k-3k-5K???

The problem is not gold going up its the DOLLAR LOOSING ITS VALUE/PURCHASING POWER.

more bank failures are coming soon.. big bank failures. we have not seen real crisis yet. grab your cash and buy hard assets that will retain value during crisis. food, ammo, quality cloth etc.

[aviomaster]

-- Holy smokes GOLD is closing to 1200$ per ounce ...

[theguvnorjimmy]

How does Peter recommend investing in Gold? I have not heard him say this. Does he recommend buying bullion bars, investing in gold stocks etc?

[TheReivorg]

He recommends a diversified portfolio with some physical gold, gold stocks and it's not gold but he recommends investing abroad.

Contact his Europacific capital firm if you are interested

[Dasifter]

Save the tape! Classic quote

[smasila]

Gold is over $1000. If it weren't for Goldman Sachs and JP Morgan manipulation of the gold/silver market it would be alot higher. Peter Schiff is right 2.0. When the depression comes, it'll be Peter Schiff is right 3.0

[TheByronDaleChannel]

If gold is money then wouldn't it be impossible to de-monetize it?

[IGodRawksI]

technically yes, but to do so, youwould have to take its "precious metal" status away. Which would mean you would have to create TONS of artificial gold that was so well made that it was indistinguishable from REAL gold.

People will always want gold....

[Sivels]

You can actually use gold in industries etc. It has real value.. dollar bills are just wood, you can use it for nothing in itself..

[szojkatomi]

Woman: Pretend this is the average investor asking.

Peter is thinking: I wish you would be on a level of an average investor with some intelligence.

Finally it's great to see a man (financial commentator Peter) who knows what he is talking about...and I feel sorry for him that he has to deal with all these short sighted, uneducated people who act like they know what they're talking about. And mostly these anchors...they should know better.

[MrHydez]

exactly i felt the same, i was thinking how come

this two journalists be so dumb?

[dlmaniac]

Actually that lady, Liz, had some understanding of Peter's point of view and was one of the few TV hosts out there respecting Peter. She was on the endorsement list of Peter's book, I think.

[Anythingwilldo41]

Your the best peter!

[jc3mer]

how much does that dumb bitch get paid to say shit like that

[golbyaka]

So if the dollar collapses, does that mean that we can't use it anymore? Will our jobs be meaningless?

[averageworkinggal]

That audit document is online.

I downloaded it.

I don't do work for lazy Conspiracy Theorists who don't do credible, objective research.

[averageworkinggal]

264.1 million ounces - US gold stock

[tillo2008]

who performed the audit, do you know when that was? Are there reports?

[averageworkinggal]

Either show up at Bernanke's next press conference at the National Press Club and ask him or start googling.

I obviously found the information with a little research.

Bernanke wants more transparency at the Fed. He's setting up a new website.

Maybe you can email a question, or just call Bernanke at the Fed in D.C. rather than acting foolishly uninformed.

The 264.1M oz. was an audited amount and it's out there in a cyberspace document if you search well enough.

[tillo2008]

averageworkinggal: "maybe you can email a question, or just call Bernanke at the Fed in D.C. rather than acting foolishly uninformed"

Actually, I was trying to open a debate because MY research says entirely different.

Instead you tell me i'm acting dumb, and aren't even answering my question.

YOU don't even know who wrote the report you supposedly are quoting from.

how about you stop acting like you know so much until YOU are willing to back up your claims instead of insulting people

[averageworkinggal]

There was a Treasury Audit several years ago because conspiracy theory kooks were saying our gold was stolen.

Yet another conspiracy theory kookism was debunked.

[FoShizzle951]

Schiff pwns.

[buzzadler]

the only problem is, the american voters are so dumbed down by these fail;ing schools, and the media is so in the tank for obama, that Obama can completely fail and nobody will know, he already got away with a campaign based on lies, half truths, and economic illiteracy.

[averageworkinggal]

The US only has about 260 million ounces of gold.

At today's price, that only covers about $260B of debt.

The US national debt is more than $5T foreign debt, $5T domestic debt.

Thus the 260M oz of gold has to be spread over 5T or 10T not 260B.

Thus gold is worth much more than a few thousand dollars.

Going to the gold standard would be a massive transfer of wealth to gold holders and impoverish dollar holders.

[trakkaton]

You don't know what the US has as it is not audited. Check what Ron Paul says about this.

The debts and liabilities of the US are closer to 100 trillions. The derivative time bomb is about 500 trillions.

You can't impoverish d0llar holders because all they own is green toilet paper.

And please stop with the left/ right BS, no left person would vote for someone like Obama. They'd vote Nader or green or Ron Paul or something like that.

[averageworkinggal]

Yet another incoherent kook response to my intelligent comment..

There are actual treasury bond debts and then there are projected future budget obligations, idiot.

It is the height of stupidity to say that the left did not vote for Obama.

Obama got 52% of the Vote.

McCain got 46%.

Third party kooks, including Nader, got slightly over 1%.

The Fed is audited every year by the Executive Branch, idiot.

Ron Paul says false things all the time to play to his kook base.

[trakkaton]

Yet another incoherent kook response to my intelligent comment..

It is meaningless to talk about debt without future obligations.

Obama got about 50% of the vote, that's what proves that the left didn't vote him, as there is no 50% left in the US. There is perhaps a 3% or 5% left in the US.

Name the date and result of the last audit of the US gold reserves.

Cite Ron Paul and prove him wrong while respecting common debating rules.

[averageworkinggal]

If you do some objective research, you'll find that the US sold 500 million ounces of gold, two thirds of it's gold stock, to prop up Bretton Woods, under the burden of Great Society welfare and the Vietnam War.

Nixon took the US off of Bretton Woods to save the last third, which is easy to see would be in the range of 250 million ounces.

Greenspan testified to Congress that the US does not trade in gold anymore.

I have seen 260 million ounces stated elsewhere.

That's consistent.

[trakkaton]

Do we really have to talk about what the word "audit" means?

[tillo2008]

can you tell me when the last audit was? I heard there was no longer an audit of the fed. any links?

I also heard there was a good portion of this gold you mentioned under the twin towers, and it was reported by experts to have "evaporated" by the molten metal because they could not find any.

[averageworkinggal]

Peter has declared Obama to be Jimmy Carter, Part Deux, Herbert Hoover, Part Deux.

Thus the lib thug Obamabot army will target Peter for political destruction.

It's time for all Ron Paul supporters to engage in a vicious dogfight against the kook fringe lefty lib thugs to protect Peter Schiff from their vicious hate spewing.

[tillo2008]

it's time for people to consider who they are as people and what they value as Americans.

It's time for people to stop identifying themselves by a political party.

it's time for people to prioritize and decide what is most important in their lives

the time to support Ron Pall has passed, and protecting Schiff would be like trolling the internet.

economically, farmers and those who know how to farm will be better off than everyone else.

The USD will soon be the new peso! OLÉ!

[tdot22]

keep fighting the Israel's wars, you ppl are zionist slaves, the whole world laughs at Americans.

[tillo2008]

tdot22:

why did you choose to respond to my comments with that unintelligent drivel?

I'm not even American, you pakistani idiot. I am, however, in a position to know more about US economy and politics than the average blue collar factory worker in the US.

It's part of my job.

If you laugh at America as Israeli slaves, as you claim, then you are a fool and should fear for your life. If the US has lost control of their government, Pakistan is one of the first on the hitlist for Israel, no?

[jc3mer]

are u ok buddy?? israel cant 'take out' pakistand... it needs the u.s. military to do it which reinforces what u were arguing against... 'america as israeli slaves'

[tillo2008]

that's what i'm saying, that IF his statement of being zionist slaves were true than pakistan would disappear pretty much right after Iran.

Therefore, if "the whole world is laughing at Americans" then they are fools to not be afraid. If it were true he would NOT be laughing and that was my point.

[jc3mer]

theyre not fools not to be afraid... theyre brave and thats why they last... and ur making it sounds as though israel could easily take out iran and pakistan... it aint true because if it were they wouldve acted already... iran is not palestine... israel cant just decide to invade.. in fact they dont even have the capability to invade.. they dont even have bombers (do they??) all they can do is send some fighters over to iran... what sort of attack can u sustain with that???

[tillo2008]

wow dude, you either need to learn to read, or learn to comprehend what you're reading.

You're arguing with me, and you're arguing exactly what I'm saying!

tdot22 said Americans are Zionist slaves.

That's not true and IF IT WERE TRUE (AND AGAIN IT'S NOT TRUE, AMERICA IS NOT ZIONIST SLAVES) then he would not be laughing at America, he would fear them.

What is your problem?

[jc3mer]

lol maybe i might've misunderstood a thing or two.. i aint been sleeping right at all lately...

ok... i don't agree.. americans are zionist slaves cause theyre actions serve the interest of zionist israel... israel has been the dominant force in the middle east for the last so many decades but iran is upsetting that powerplay and israel cant have that cause then it means more middle eastern countries will follow suit... so now its up to america to take on iran cause israel cant

[jc3mer]

nice

[aflatspacerat]

Those to are totally rude to Peter Schiff. They mock him instead of politely listening to his opinion, and expertise.

[Colonoscope]

Those 2 talking heads should have been quietly taking notes, and respectfully shuting their mouths. Have they ever recanted anything they have said - any of the news people who laughed at Schiff?

[kingdomcoming7]

I actually stop listening to these pigs on fox. They have named the network right. FOX! Do you know what a fox is? Peter is solid and telling the truth.

[40ny]

It's sad to see these 2 clowns being so flippant with a guy who is just trying to wake people up with a dose of realism. A lot of good, decent people could lose their jobs, pensions and even life savings in 2009 and all these idiots can do is act as if they know it all.

[destinyson23]

It is depressing. But it because of people like Peter and Ron Paul, that other people around the world are reading about free market economics and F.A. Hayek/ Ludwig von Mises/ etc....So they do help. It's just not as obvious to the eye with clowns like the tv anchors.

[WakeupsCall]

"Gold at 1200?These guys are no better than peak oil lunatics."

Actually, the real lunatics are the ones back in 2001 (when gold was at 350) that thought gold above 500 was ludicrous, and that the DOW would sail to infinity.

Man they must feel like fucking retards now.

"After the recent dllar rally gold is at 700$ and will decline more"

Look at a much longer term chart, bud. Focusing on short term movements is meaningless.

[KingDrudge]

Lunatics like Don Luskin who were on CNBC with Peter and told people to "BUY THE DOW WITH BOTH HANDS"

People who did that ought to have both hands chopped off for being so damn stupid.

[JimLundberg]

The FED cartel has been holding the price of gold and silver down because if they didn't, the value of their dollar would tumble. I think the main reason the dollar has been going up a bit is because of the hugh loss in the stock market has reduced the M2 number a bit. How can they create this much money out of thin air and the value of the dollar not go down? You can trust the value of the dollars in YOUR 401K, but I don't and think the dollar is about to crash. Hey, Russia defaulted!!!

[EdMan2012]

FED cartel, ha ha, you've seen or read The Creature from Jekyll Island. Great book. I wish more people would watch the vid or read the book. It feels good to know the truth doesn't it? More will follow.

[zoroab]

Gold at 1200?These guys are no better than peak oil lunatics.They always predicted the fall af the dollar the destruction of modern finance and the emerge of dollar as the only real value.They cannot even understand that the price of gold is connected to the valxue of the dollar as it falls the price increases.After the recent dllar rally gold is at 700$ and will decline more.This guy was lucky once.Gold is a barbaric relic,investing in it is insane(it made 28 years to reach again it real price)

[EdMan2012]

There is no real connection between gold and the dollar. Gold is real money, and will retain its value regardless of the fiat dollar. The FED is printing more money (lowering interest rates) on purpose. The Fed needs 2 stop printing more money. This fiat currency is coming 2 an end. Gold barbaric? What about our fiat currency? No real value, & is controlled by international banks. A gold standard is the most obvious real solution for us now 2 stop the Fed & inflation. It will take years though.

[cyrusp100]

Comments like this from a year ago are hilarious!

[flizbarg]

Does that clip show the Dow above 13000? How old is this?

[jeffsst]

not even a year old dude... thats in how mush troubel amerika is!!!

[kcmall]

Peter is such a brilliant man. She hit him with that spew about gold, that all you do is hold it (like you're not producing, or providing any worthy service to the economy by holding it).

Peter immediately responded with "Gold is money".

[colopity]

The way the lady laughs at the idea of putting the dollar to the gold standard, like it's a big outrageous thought. SHE better wake up, be careful buying gold too!

[pinkclimax]

I've bought 6 gold coins and about $825 each including premium in past couple weeks and about 200 Sliver buffalos at $13.50. Just wanna have some real money in the reserves, gonna go bury it in my back yard and forget about it, lol...

[kcmall]

She makes that comment about Peter's head swelling at the asking about whether we should go back to the gold standard. Then again replies with an 'of course' when he said he saves his own tapes.

Peter does not sound like an ego maniac whatsoever ...just happy to convey some facts for everyone. What's her problem?

[colopity]

Yeah!

[warrencurrier]

kcmall...

you are right. Peter is solid.

she is an entertainer.

[jc3mer]

she's getting paid the bitch thats it

[GuardEden]

The ratings feature is messed up, tried to rate, rated it 5, it said thanks but does not register, usual suspects likely deviating/debasing along w/deceiving the masses. Tell me, anyone else get the same effect? I imagine all will unless it is a low rating you give. Likely a new application they've put to use for benefit of peons, pup-pets and those they fee-st upon, ignorant. They are the Choose-Sin-Ones, those who peddle nil for something, lies as truth, their end is nears. great vid, t/y

[colopity]

I think sometimes it averages out other people's ratings, and as there isn't an amount of peole rating, it's hard to judge the star rating, I give it 5 :)