12/16/2008 Part 3/4 Peter Schiff On Kudlow & Co: FED & The Markets

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News & Politics

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• Peter
• Schiff

[internate]

Peter needs his own show. What's taking them so long?

[VegasBD]

Idiot: "I live in dollars"

Schiff: "not for long!"

hahahahah that was the best part of this vid

[deltapunk21]

Deflation is wealth creation and economic growth, Schiff is correct we were on the gold standard and had sound money plus silver and metal coins for change REAL vaulabe assets in our hands. The silver dollar powered the industrial revolution finacially.

[Vnntbls]

Neither of them are entirely correct in my estimation.

[Vnntbls]

Same thing, a shortage corresponds to inflation, this is basic supply demand.

[nthought]

Inflation? Everything is cheap as dirt right now. And the gold standard was sound? It was sound until the speculators crushed Great Britain in 1931, and attempted the same in the U.S. Sounds like Schiff wantss to crucify the debtor American public on a cross of gold!

[kickittome70]

Why is this crisis, deluded rich guys with grey hair are just talking shit? The only ones talking straight are the younger ones. The "old liars club" are trying to con the public to give them enough time so they can get out of their precarious positions. The big guys get out first and the little guys will be walking around next US summer, saying "What Happened, I had $250K in my 401K and now I cannot afford to live" Get used to it - Keiser and Schiff are the only honests guys out there. Listen

[marky1333]

If you bought an oz of gold (at bottom) in 1932 for $20.67 at the peak this year you'd have had $1062.

If you bought $20.67 of the Dow index at the bottom in 1932 you'd have had $7,140 at the peak last year? Fisher was correct, any chart in any measure proves 1929 was a temporary set back. He is also correct about the causes of the depression.

The worlds going head long into a Keynesian disaster which will take decades to recover from.

[ftorresgamez]

marky1333, remember to adjust for inflation. The stock market is valued in dollars, and even if it has risen 29000% since 1932, you have to adjust for inflation to know the "true" return. Or compare the returns to gold, see which outperformed the other.

[marky1333]

I agree. "Fiat" currencies produce an illusion of wealth.

That illusion is about to disappear.

Everything goes back to its 'mean' value in the end.