Peter Schiff talks about the Gold Standard and U.S. Manufacturing

** All video clips used in this video were broadcast, making them legal for use under Fair Use laws. The intention of this video are for news reporting and educational purposes only.


This is an excerpt from Wall Street Unspun on March 18, 2009. I was lucky enough to get through to Peter Schiff, President of EuroPacific Capital, and ask him a couple quick questions about the gold standard and U.S. manufacturing. I was caught off guard, but eventually collected myself. Hear what he had to say on the topic. Please feel free to rate and comment.

Peter Schiff is considering running for a U.S. Senate seat in Connecticut, his websites are:

www.schiffforsenate.com

www.europac.net

For those of you who are unfamiliar with Peter Schiff, he accurately predicted where the U.S. economy was headed as early as 2005. He was ridiculed and prematurely dismissed by a wide range of economic analysts on CNN, Fox, MSNBC, and CNBC. Low and behold his predictions were right on the money. His book "Crash Proof" described in detail not just what was about to happen, but how and why.

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[mrargon87]

Peter Schiff is the man. Everytime i hear him talk i think to myself what a stud. I wish i would have been following his advice for year instead of the morons i use to listen to. Keep it up Peter Schiff.

[Finnbar01]

Silver is also important.

[ManosOceano]

Gold standard will rape earth and drive humanity mad. Dr Ron Paul must consolidate his "Au"rgument or bite the dust.

[billysunerson]

@hoodoo961 Because if the supply can be arbitrarily expanded by government, there will be inflation. That means the money you have loses value. You can save it in a bank but it will be worth less and less.

[hoodoo961]

Why can't it be paper we run off the presses? Its been that way since 1933.

[MsBusiness101]

We should be able to set up a business in one day like Hong Kong allows. This is what Peter means by little regulation you don't have to jump through five hoops over a period of a week/month before you start your business. Our country would have a certain amount of gold with a one to one ratio to paper dollars. Excess amounts of dollars to gold means that their is less value to the paper money also know as INFLATION. Returning to a GOLD STANDARD will prevent inflation, keep prices the same.

[DerAdler2]

Gold is money,paper is not.

[shouldlistentoronpau]

Don't get me wrong (Peter is very intelligent and I completely agree with him) but he could have done a better job explaining.