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PETER SCHIFF
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Hey Peter Schiff, i'm a 28 year old guy from Portugal and i wanted to say that i think you're a person worth listen to.
ReplyDeleteI would like to make a question. I understand that in an economical point of view, it makes sense not to spend only for the sake of consumption, which i understand was happening, and will continue to do so with all the money created by the fed reserve that has to be paid by future generations, in the USA and consequently in the rest of the western world. In other words, there has to be less dollars in circulation so that one can deflate the currency and restore value to the dollar which has been in a downfall since it was created and anually reloaded into the system.
It's the social point of view that doesn't make sense, in my opinion. The peoples goals shouldnt be to restore value to the dollar by not spending, thus not satisfying themselves with all the resources that are available to them, which are only blocked access to by a concept that should only be a means to exchange and not as a entity of value.
We all know by now that we cant have a social design that relies on oil as primal source of energy, and that isnt necessarily a problem, since there are N alternative energy sources just waiting to be explored. The Food industry makes huge profit by using technology and man power bodied by the people, which is capable of producing food for 6 billion people and more by every month. Intelectual and natural resource land property, which has all the legitimacy for centuries, is hurting the needs of the people which can and should be easily satisfied.
Bottom line is that you say people should cut in spendings, which i agree on one part, But those spendings should not ever be related to nutrition and energy resources, transportation, health care and education, be it from the public sector or the private sector.
I hope i explained myself, since english isn't my mother language, and i would like to hear some comment from you about this. Thanks.
Peter,
ReplyDeleteJust like Rick from California I also wonder what was behind the bear gold market from 1981 to 2000?
Wasn't the dollar being devalued during those years?
I realize gold rose during the previous decade but, again, what's your opinion regarding the following 20 year bear market? What there policies or practices used to keep gold prices down?
I know price is determined by the market--supply and demand--but no one wanted to buy gold during those years?