Peter Schiff: Gold is Money

Schiff is as "good as gold" in this early 2008 interview on Fox Business.

Money retains is value. Dollars, on the other hand, don't retain their value because Ben Bernanke is printing them like crazy.

And, he warns of coming bankruptcies for Freddie and Fannie.

Are people listening now?

Category:

News & Politics

Tags:

• peter-schiff
• schiff
• gold
• money
• economy
• federal-reserve
• fed
• inflation
• bernanke

[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.

[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.

[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.

[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.

[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]

@MsH1h1h1h1 So you agree with me then.

[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]

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

[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.

[Objectivist1994]

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