Peter Schiff on the Time Magazine article about the Main Stream Media Freezing Him Out

Peter Schiff Vlog Report 26 May 2009

Peter Schiff also spoke about the newest Wall street article about him being freeze out by Main Stream Media lately despite the fact that he was right on 99% of his predictions on the state of the economy , click for the article here ...Peter Schiff continues that we should have just stuck to the constitution and nothing bad would have happened to us ...If we were on a gold standard we wouldn't need an inflation protection ...do not do what the FED is doing , move your assets abroad buy gold and silver and get out of Fiat currency...

Peter Schiff Vlog Report 26 May 2009
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Peter Schiff on Fox Business "I might run for Senate , I am thinking about it "

Peter Schiff declares that "he Mights Run for Senate " he said that Gold will touch $1000 , that China Asia and the rest of the world will realize that they do not need anymore the American consumption , matter of fact the Chinese production is increasing while their exports to the US market is declining , which means that they have started to consume their own production and can make it without the American consumption paid of by worthless paper money printed out of thin air and backed by nothing ....America can never pay its debts once foreign investors stop buying our bonds ...we are heading for a painful awakening

Mish and Luskin continue there attacks on Peter Schiff

Attack , counter attack and Response :
After the Time interview of Peter Schiff and his mentioning that Main Stream madia started to kind of boycott him , Michael (Mish) Shedlock and Luskin continue their attacks on Peter Schiff
In a recent blog post, Luskin declares : I Quote :

"...[Peter] Schiff's TV bookings are down 75% to 85%, says his younger brother Andrew, who handles p.r. for him. About the only things written about him lately have been negative--the result of financial blogger Michael (Mish) Shedlock's pointing out that Schiff's investment recommendations were money losers in 2008. How could a bear have managed to lose money last year?" end Quote :

then he updated it with this I Quote "
"Austrian" mafia capo Bill Anderson accuses me of "attacking" his boy Schiff by posting the above, claiming that the quotation from Time is something I "declare" rather than an external authority whom I quote. Can these thin-skinned idiots even read?" End Quote

U.S. recovery gets setback as countries dump dollar reserves

Many Americans have been led to believe that the worst of the financial crisis is over, but last week the U.S. economy was dealt another heavy blow that may signal further disaster is still to come.
The Financial Post reported last Wednesday that "...the U.S. dollar slid against most major currencies... hitting a five-month low of US $1.3775 against the euro..." The day after, Florida's BankUnited FSB was seized by Federal regulators in the largest U.S. bank failure so far this year.
The sudden dollar decline and seizure of Bank United is a flashback to the U.S. economic turmoil of late 2008, and a brutal reality check for many who thought the worst was over.
There is also a great deal of concern surrounding the U.S. triple-A credit rating, which many speculate will be downgraded along with Britain's triple-A rating. Such a move would signal a decline in America's position as a reliable borrower on the international market.
Other nations are apparently following suit. The Financial Times quotes top Brazilian officials as saying that Brazil and China are also working toward "using their own currencies in trade transactions rather than the U.S. dollar..." This scenario, says economic commentator Peter Schiff, is "not only a possibility, it's inevitable."

But Schiff, one of the few to predict the housing market crash, thinks this change in the long-standing status quo should be welcomed, not feared.

"When [the U.S.] decouples, the world will thrive," Schiff told CNBC. "The world doesn't need our consumption, we need their production. The global economy is fine without propping up the U.S. economy."
Quotes from the haaretz