Peter Schiff Video Blog Report April 13th, 2009

[TXG8R]

Great commentary and analysis as always. Top marks for getting the new PC and Video equipment. It's really great. Thanks again, Peter.

[c007dude]

Thanks Peter for your terrific analysis.

[hamtuber]

Thanks Peter and keep up with the good work! I really enjoy listening your analysis and at the same time having some really good laughs...

[7532730]

Peter - thanks for upgrading your video equipment; now it's music to my ears.

[joneselius]

The US Constitution is subverted because the only the individual States is sovereign not the

Republic or the Corporation. Each are bankrupt entities and thus work under a system based

on liberty, which grants rights and privileges. Liberty is what is given to seamen that are not

free and all laws are related to Admiralty, Law of the Sea. Free men and women have no liberty, privileges or rights, they all have freedom, end of story. The people that are elected..... cont.

[joneselius]

into office are elected into both the Corporation and the Government offices at the same time,

thus they are in a conflict of interest, which is Treason again.

[eesloan4]

I am either going to call Peter for his show this week and/ or wait for a good response to this: What made gold completely tank against the dollar from 1979-1981? And when will he/we know when to start dumping gold for stinky fiat money again? The dollar has continually lost purchasing power since its inception but since gold is supposed to be one of its hedges, why doesn't it continually increase in value (on average) through the years?

[eesloan4]

This to me is a crucial question that needs to be addressed. I can imagine gold rising for perhaps several years or more, but at some point it will tank. How does that happen and why does it happen given my above post?

[dcs5150]

Read his books and you will be enlightened. But I may be able to satisfy your questions. Gold got into a bubble in 1980, way ahead of itself. See Peter's top 10 signs of when Gold is in a bubble, and that will give you an indication of when to sell. Gold has gone up on average through the years, from $35 per ounce in 1971 when we were taken off the gold standard, to almost $900 currently. That should give you some idea of the magnitude of devaluation of the dollar in the last 38 years. Peace...

[eesloan4]

But it doesn't make sense that it would go from 800 bucks an ounce to 300 in just a few years time. The dollar did not become more valuable during that time. Sorry, I am missing this key point :(

[dcs5150]

Assets can rise and drop in value very quickly. This seems to be a common theme in our Keynesian economic driven world. Boom and bust. Panic and fear. To best answer your question; the 1970's was a period of high inflation. Gold traded higher on the spot market as a response. Fear of destruction of our currency led to panic. Massive flows of money poured into gold as a result. Interest rates went up to over 20% to combat the inflation, and fears subsided. Gold was sold off and the price dropped.

[dcs5150]

The Federal Reserve is the key here. Raising interest rates has the effect of tightening the money supply. The dollar's value will be perceived to as being strengthened, so people will see less of a need to hold an inflation hedge such as gold. This time is a different story, however. Interest rates are currently at near zero percent. The only thing holding prices down is the credit contraction. Once the banks start lending again, "velocity of money" will increase, leading to increase in prices.

[dcs5150]

The massive capital injections into the banks hasn't really hit our part of the money supply yet. But eventually that money will be loaned and spent, and will end up in our hands. With no increase in the supply of goods, "price inflation" will go to the double digits, and as Peter says, "The first number isn't going to be a 1 " Gold rising to $800 in 1980 was a blip on the radar. But in the last 8 years, it has been in an upward trend and most likely will be as such until policies change.

[eurogoldexchange]

Great sound. Its much better to use a regular camera (canon powershot or casio exilim) good sound, good resolution..

[KYGardeninggirl]

Thanks Peter for taking time out of your day to do these videos.

[nictron99]

As always a great vblog Peter, keep up the good work, I enjoy listening to your comments.

Again valid points that you are making and it is actually very dissapointing that they postponed your ABC appearances. You must not be liked by the banking industry over there in the BIG USA.

I for one am from the Republic of South Africa and our financial sector went almost unscathed due to some regulatory framework being in place as well as a new credit act that was launch in the beginning of last year.

[tsmith2187]

Excellent video. Thanks for posting.

The new computer is a BIG improvement in the quality of your videos.

[LiptonGuy]

Of course the Chinese people are gonna buy more cars. Their population is almost 4 times as great as the U.S. Population.

[LiptonGuy]

How high is CitiBank and Bank of America going to go ?

What about Fifth Third & Huntington Bank too ?

[LiptonGuy]

Warren Buffet bought these Goldman Sach shares with coupons.

Where can I get these coupons ? Can I print them off the internet or find them in the Sunday paper ? -Maybe the N.Y. Times ?

Please let me know. I need to get my hands on some of these coupons, so I can get the 10% discount, that Warren Buffet got. ---- Thanks !!!!

[jgrover78]

Thanks for the message. The new video equipment works well!

[surferaw949]

Peter, you need to get your facts straight. The Portuguese water dog acquired by the Obamas is a crucial story, in that there are plans afoot to utilize the Portuguese Water Dog as the new currency and medium of exchange. The Obamas will essentially horde the Water Dogs and drive up their value, thus strengthening this new national currency. I therefore advise all viewers of this post to sell your gold and foreign stocks and invest in Portuguese Water Dogs now. They will be the new currency.

[HeatForce]

I shall take your advice!