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Peter Schiff On CNBC: Gold & The Dollar
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Friday, Oct 24, 2008
Schiff explains the long term dangers to the dollar and why the bull run in gold is far from over.
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16 Responses to “Peter Schiff On CNBC: Gold & The Dollar”
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October 24th, 2008 at 5:05 am
Say it baby! UY GOLD, BUY GOLD. I live in Toronto, and the sellers over here are out, they will re-supplying at the middle of the month. But, geez, the shit’s hit the fan-it’s beginning to hit in Canada-and now, the supply is dwindling over here as well.
Stop waiting people-Liquidate, use that cash to buy gold.
The crazy, loud, Texas dude wasa right afterall; when are you going to start listening to him.
I HAVE!
-Get off your ass, stop waiting, buy GOLD!!!
October 24th, 2008 at 5:25 am
BUY Silver and Gold Today! [# 1 is correct]
( ..will they try a Bail[fail]out for ‘precious metals?)
October 24th, 2008 at 7:25 am
yea, thats the greedy spirit, money will solve all our problems, lets all at and behave the way the bankers want us to.
like pigs rolling in filth.
October 24th, 2008 at 8:09 am
Way too much of a premium on gold to buy it. I think it is setup that way so only the rich can buy gold with a super low premium. Either way, Gold is being manipulated by the IMF and i would seriously think twice about that kind of an investment.
October 24th, 2008 at 8:44 am
[Jas 5:1] Go to now, ye rich men, weep and howl for your miseries that shall come upon you.
[Jas 5:2] Your riches are corrupted, and your garments are motheaten.
[Jas 5:3] Your gold and silver is cankered; and the rust of them shall be a witness against you, and shall eat your flesh as it were fire. Ye have heaped treasure together for the last days.
[Jas 5:4] Behold, the hire of the labourers who have reaped down your fields, which is of you kept back by fraud, crieth: and the cries of them which have reaped are entered into the ears of the Lord of sabaoth.
[Jas 5:5] Ye have lived in pleasure on the earth, and been wanton; ye have nourished your hearts, as in a day of slaughter.
is this reference to gold certificates instead of buying actual real gold?????
October 24th, 2008 at 9:38 am
Schiff raises a lot of interesting points.
The U.S. has been printing money out of thin air for far too long. We have a huge trade deficit. We have a huge budget deficit. We stopped making things. (He didn’t say this, but we’ve had criminals in the White House for decades.)
Eventually, the chickens are going to come to home to roost, and when they do, the air is coming out of this falsely inflated economy. It absolutely has to happen.
Gold may come down in value in the short term, but in the long term, gold is really the only thing that makes any sense regardless of the price. It’s a commodity. It has value, end of story.
When they raise interest rates, and they have to raise interest eventually, the market is not going to like it, and the DOW will go down even more. We could see the DOW hit 2,500, and gold could go as high as $2k per ounce. (This could happen)
Think about how much money investors have lost already. The DOW is down 400 points again today. Eventually, investors are going stop the bleeding. Any more 400 point down days, and it will trigger another wave of panic selling.
The DOW is very close to a technical level of around 7,800. It would be a five year low. If it goes past that. It’s got another 1,000 to 2,000 points down to go before the next technical level gets tested. I haven’t looked at the charts, but I do know we’re in dangerous territory. Fear is warranted.
October 24th, 2008 at 10:26 am
SOLUTION—- TO THE PROBLEM IS THE AMERO NEXT YEAR ITS COMING
October 24th, 2008 at 10:28 am
PROBLEM, REACTION, SOLUTION
AVID ICKE
October 24th, 2008 at 10:32 am
Everyone should look at the article on hypnosis posted on infowars.com and study this research thoroughly. This is exactly what I have been dealing with on a daily basis. A few things popped out at me like mob hypnosis and war hypnosis turning civilized men into criminals. Being conditioned to verbal or other symbols with mental triggers creating a mental slave.This is also used in psychological warfare and black ops to create and control mind control victims and cults.These techniques are very dangerous in the wrong hands and the public should be aware they are being used on them. I have been aware of these techniques for several years. They have been used to covertly control and manipulate my behaviour. They have been used to try and coerce and force false confessions. They have been used to try and make me act violent or crazy. This is done openly and is easily deniable making it hard for victims to come forth. The article was right to recongnize this type of behaviour as illegal and giving specific court case examples stating “Hypnosis-type mental pressure has been held by the Supreme Court of the United States to be so unduly influential as to deprive someone of their fundamental rights.” I think the bigger story is that someone has attempted to frame myself and is now engaged in a massive coverup attempt. I am followed and harrassed everywhere I go. They are using psychological torture and recreating trauma to control and fragment my mind. This is well known by many and anyone who will not participate or tries to help me is also targeted. I was told by one man that he had to or “they would get me”. I have travelled to canada because they offer refuge protection to peoples who fear persecution or whose removal from Canada would subject them to a danger of torture, a risk to their life or a risk of cruel and unusual treatment or punishment. I was refused and told I needed to contact my local police. How do you contact the police and report corruption? These same people were openly taunting me in canada! I am an employee with the American Red Cross and they recently declared the United States as criminal and guilty of war crimes. The Red Cross is well known for being an advocate and defending human rights worldwide. I am now having the same problems by people who have been recruited or infiltrated positions that would get them close to me so that they might try and get me fired. If this type of illegal persecution and oppression can openly go unchecked and unchallenged it will only grow like a parasite on society and none of us will be safe until it is. Please don’t ignore or disregard this information. There is a covert war against the citizens who have become aware of corruption in the dallas ftworth area. Many people including churches are being persecuted.
October 24th, 2008 at 10:40 am
#5 what these biblical references are talking about is when people started to melt down gold coins extract some gold and add dross metals to them. this was stealing and it also expanded wealth artificialy. becouse now you have the stolen gold plus your coin is still worth face value. thou shall not steal ,thou shall not bear false witness. remember when jesus said render unto ceasar what is ceasars. he was suggesting that govt issued coins or currency are unecessary becouse gold WEIGHT and PURITY make acceptable money not whether or not is has a govt. seal on it. if you blindly accept a got. coin becouse the govt. says its real well by golly they will start counterfitting it in order to expand artificialy. so honest money is measured by weight and purity of gold content not by govt. symbolism. a monetary system makes god the central banker since god decides how much gold and silver the earth will be blessed with.
October 24th, 2008 at 10:47 am
corection: a monetary system based on gold and silver makes god the central banker since he decides how much gold and silver the earth will be blessed with. hint following his laws lead to more blessings
October 24th, 2008 at 6:43 pm
I agree with Schiff. I read his book, “How to profit from the coming collapse”. It was very similiar to Ron Paul’s new book. A Manifesto. In fact, Schiff was Paul’s economic adviser prior to the GOP picking McCain. I did invest some $$ with Euro Pacific a few months ago. Like all global stocks, my portfolio is way way down even with his philosophy. Who would have thought the dollar rise? I have gold, silver, water purifiers, storable food, lead, etc, etc. Is it enough? Not even close, we need our spirits and inner strength. This entire qtr has been a mess for everything except a few selection of big bankers. Frankly, I am exhausted to even continue to update prisonplanet and rense. My heart tells me to go back to ancient greek mythology and meditation. Who really gives a poo who gets in office! Mr. Alzheimer’s or Prince Kenya? Both worthless….
October 25th, 2008 at 1:30 am
Key words are: no one will buy our bonds+ most irresponsible monetary policy+ stopping supporting
debt habits + bad US mortgages against currency risk …
What Jones is now saying is that ‘what criminal charges can be brought against a privately
owned company that made all this happen…with poor regulatory bodies, no inherent checks
and balances based on debt to savings ratios. Consider this:
On a global basis the amount of gold now mined in history is 193,000 MTs up 20,000MTs over
8 years. Coin yearly only amounts to 30 MT globally. These figures are found just googling
How Much is there….and the kicker is the FED has the Exchange Stabilization Fund that was
supposed to be the FED’s marketing arm to sell it’s own gold to balance it’s books.
That GATT has not gotten record of creating cause of concern. See this link:
http://www.fms.treas.gov/GOLD/current.html
It begins here…if 7430 MT s is all the the government has, we are really in big trouble.
As a gold-trader the rumors of large tranches of gold sales equal to 10,000 plus are being
sought after now by the globalists. They are looking high and low.
China has registered less than 30,000 MT in storage.
There are ways to bring about the gold standard when the WORLD BANK takes measure
of all the gold now in bullion form in vaults. Total estimated at 70,000 MT gross total.
The rest? The unregistered illegal gold estimated to be in excess of 20,000 MT globally.
The rest is in alluvium , coin and tech factories.
If you do the math, there is more printed money than gold on Earth.
October 26th, 2008 at 5:41 am
Incredible how he was able to make his point—an excellent one (btw). The media spokespeople were a bit surprised and tried to rein him in a bit but HE MADE HIS POINT. Bad derivative products and a failing dollar (that is pulling down Europe with it) is taking its toll.
October 26th, 2008 at 9:24 am
The info regarding the EURO was good, People have been naive about the EURO system.
The EURO is based on the same system as the US, CANADA etc, fractional banking practices.
And remember boys and girls. When you and/or I go get a loan from a financial shark/institution for say $1000.00 and those bank notes are deposited into your account, dit the bank create the interest that they want back from you, and circulate it. I think not, so where (if the interest is not “created” suppose to come from???. In the end of this wild roller coaster everyone must loose. except the banks.
Thanks for sharing.
October 26th, 2008 at 8:55 pm
No one has yet talked about the predictions of gold and the what the new currency (the Amero) will do to the gold prices. Please someone shed some light on this subject. Everyone saying go buy gold to save yourself from a failing economy. I know gold will always have value, but you are paying between 700-900 and ounce now what will it be worth in the new currency, 200.00 and ounce?