Peter Schiff (Ron Paul financial advisor) points out that the government destroyed the United States Economy. Let the free market cleanse the markets. The Dollar will go into free fall. Washington Mutual Inc was closed by the US government in by far the largest failure of a US bank, and its banking assets were sold to JPMorgan Chase & Co for $1.9 billion. ADVERTISEMENT Thursday’s seizure and sale is the latest historic step in US government attempts to clean up a banking industry littered …
03 January 2010, 4:54 am
Taxation through inflation. Its like stealing your money without touching the wallet.
06 January 2010, 3:30 pm
Let me see….I’m heavily invested in Silver and Gold and have a truck with a a “V” Plow on front….just stay out of my way.
(Mad Max)
09 January 2010, 5:12 am
Historical ‘gold standards’, distant economic history, is largely irrelevent… the usa of today & the usa of yesteryear are TOTALLY different.
I get tired of explaining this to dummies, but yet again I have to… the usa cannot go back on a gold standard because “it has no gold” of a
significant quantity and the amount of gold in the ENTIRE world wouldn’t underpin even a small portion of the world trade that takes places EACH DAY!
A dollar collapse will help me but cripple you.
12 January 2010, 1:15 pm
IF you want a real laugh, look at how many COLLAPSED BANKS the FDIC has rescued from runs and total collapse, as opposed to simply ‘assisting’, so far this year (2009Jul02)… it is hilarious!
The usa’s minor banking system is collapsing to total SILENCE from the media! How amusing.
Yet again the usa slides further towards 3rd world status, the Chinese distance themselves from the increasingly worthless $ while Asia and the Rest-of-the-World quietly recovers from the usa’s homegrown disaster.
15 January 2010, 11:43 am
Who are familiar with the 40k series hear this:
These are the closing years of the U.S Empire of the 21st Century. With the U.S military resources exhausted due to the holy crusades during the war on terrorism, countries like Russia, China and India are able to catch up. More and more U.S soldiers are sent to the Middle East to retain stability. The realm of America begun to crumble and its armies call for reinforcements that do not exist. The light of the Pentagon is fading.
18 January 2010, 7:02 am
oh great idea, let’s not have our dollar based against gold, are we this stupid people, the fed has the heist of all time going on right in front of your eyes. Wake up you bunch of sheep!!!
18 January 2010, 7:42 am
The Schiffs,The Rothschilds.
watch “money masters” to see how they are connected.
19 January 2010, 6:22 am
Check the history books bro…How did the gold standard perform compared the the dollar?…Better?…or worse?…Before 1971.
20 January 2010, 12:53 am
That would be a better system than the one we have now… but your still growing (inflating) the money supply… so you would lose 2% to 5% of your “wealth” every year
Gold has a very stable value… it’s the fluctuation of the dollar that makes the gold market look volatile
In the end a dollar is only worth what you can buy with it
22 January 2010, 10:59 pm
While there is certainly merit in a gold standard I still believe the best system is a federal bank that is mandated to increase the money supply 2% to 5% a year.
The federal bank should be prohibited from changing the reserve requirement once a figure is agreed upon, say 7% and prohibited from “setting” interest rates.
The ONLY function of the federal bank should be to grow the currency.
A separate bank should be in charge of liquidating failed banks financed by fees from those banks.
24 January 2010, 8:43 pm
Between 1837 and 1893, 56 years, the price of gold fluctuated 1 cent. Real volatile.
25 January 2010, 12:08 am
if you take into account inflation and the price of gold, you still get the same, (goods) for an ounce of gold as you did 100 years ago.
27 January 2010, 3:27 am
Collapse is not necessarily hyperinflation (Weimar style). Hyperinflation is much unlikely long-term scenario, but the dollar could lose a BIG part of its value soon
29 January 2010, 2:43 am
This guy is a moron. Inflation is only one thing–a theft of wealth. Either 1% or 10%. Gold isnt volatile–Gold is money. If you look at history, Gold always maintains value. Inflation just makes people belive they are getting rich when they are not. When we had a gold standard, you could buy things for a nickel–now the dollar is worth a nickel
30 January 2010, 11:12 pm
wooohoo! Me too, man!
03 February 2010, 10:41 am
I agree with pretty much everything he said except the part about the gold standard.
The gold standard is a horrible basis for a currency because it is extremely volatile mush like all commodities such as oil.
Basing our currency on gold would be no different than basing our currency on oil futures. Stupid and wildly chaotic.
The best monetary policy is simple stable inflation rates of 3% year after year.
06 February 2010, 1:19 am
THIS IS SOO TRUE.. GOD HELP AMERICA.. TRANSFER YOUR CASH NOW into Gold or ANY OTHER FOREIN CURRENCY. THIS WILL EVNUALLY Happen… Maybe not tommorow or next week but def will happen.. there is no other way out.
09 February 2010, 11:41 am
Luckily I have no money, So it wont effect me. I am penniless.
12 February 2010, 10:37 pm
I’ll defend my country’s constitution to the death.
13 February 2010, 3:31 am
“About a year away.”
It’ll never happen. Americans just hope it will.
14 February 2010, 10:42 pm
About a year away.
16 February 2010, 7:12 pm
wheres the Amero now?
18 February 2010, 9:18 am
Yeah. I would have supported the war in Iraq but now it is useless because OPEC is switching their reserve currency already. I think we should get out of the region and conserve the military we have because their is bound to be some problems with Velenzuela.
19 February 2010, 10:27 pm
Amen brother. Saddam attempted to switch to Euros just to spite the Americans. I dont think even he could imagine just how weak the $ would be. Now you have the Iranians starting to sell some of their oil in Euros and in Yen.
Saddam got the ball rolling in terms of oil producing nations getting rid of their dollars. Even from his grave, he has stuck a finger in the eyes of Americans, but given how weak Americans are in terms of geo-politics, most of us (not you & I) are too dumb to see it.
21 February 2010, 8:30 pm
This isnt a good video.These idiots like him and the idiots on the Mad Money segments are the same people that told people not to take their money out of Bear Sterns accounts.Their the ones that are fueling these “horrible financial fear”.Am I the only one who remembers these same people crying DOOMSDAY after the Trade Tower obliterations,after the texas and new orleans pipeline scare,after we accused Iran of aiding terrorist and my fav.My parents money is still increasing HOW IRONIC