Peter Schiff answers Reddit's questions (1 of 2)

As a lonley Canadian manufacturer of industrial seals and gaskets I can confirm NZ, AU (great gold rush going on) and Europe are still buying heavy but the retraction of many incomes in USA and Canada have buyers frozen or almost in a state of confusion over whether to spend or not. Like a person holding their breath the eventual "gulp" only becomes more desperate and ill timed as the consumers wait for "cures" from above or sir Obama and the miniacle maniacs pushing paper worth nothing. 5*'s

I agree Peter...despite it being better to legalize drugs for all the reasons you said, no need to get yourself killed. Esp. since the US gov pushes legal and illegal drugs on their own as well. So just legalize prostitution instead, for many of the same reasons - cleaner, healthier for all involved, safer, cheaper, helps unemployment, people are going to do it anyway, taxable, easier to control, etc.

The biggest pusher is the US government. The CIA runs the world's biggest drug smuggling operation. Of course Schiff would not survive.

And yet there is an article on mises. org about the actual standard of living of the average Swedish citizen being lower than that of the average Black American. Ironically, blacks in the US voted overwhelmingly for a man who's promising to turn us into Sweden.

It's not as ironic as it seems from the eyes of the supporters. They believe the alternative better because that's what they've been lead to think.

A higher standard of living doesn't mean more or less heaven on earth.

More time with family and friends is priceless, and when I see that Americans work a lot more I think they have a lot less time to spend with family and friends.

Welfare is not only about the narrow definition of it.

Sweden can house every citizen in a shelter underground for 2 months or so, that may be a good thing at this point for US. Sweden is more an equal freee market than the US rigged one is with big block format addiction. Walmart is commie as hell dude, one source dictatorship of consumers.

The reply below is for: Jaycephus01 not Mr Schiff.

It's definitely less than $50,000 because I just did it with less. And I had to open two because one is a SEP account, and I only had a little over $10K for that one.

Good luck with that if/when hyper-inflation hits. I'll be growing my own.