Peter Schiff Special JULY 4 Report 2009

Peter Schiff JULY 4 Report :
Happy independence day , Tea Parties , Tax revolts taxation through Inflation , taxation with representation is tyrannical , Friday the Dow was down , the jobs data is disappointing , job losses bad news on all fronts , government bailouts and interferences are doing more harm than good , we gained jobs only in education and healthcare , , unproductive jobs , we need manufacturing jobs not bureaucratic jobs ...the economy is shrinking the dollar was unchanged although it should be collapsing ...the FED is going to keep interests rate low , we certainly gonna have another stimulus which like throwing gasoline on fire , India joins the countries calling for an alternative to the dollar , joining Russia and China we just need Brazil to complete it...all China have to do is stop buying our bonds ....

JULY 4 WASHINGTON D.C. TEA PARTY CNN REPORT

Peter Schiff CNN REPORT FROM THE JULY 4 WASHINGTON D.C. TEA PARTY
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Category: News & Politics
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“No future for dollar as reserve currency” Peter Schiff

The Dollar has no future as a reserve currency, says europacific founder and reknown economist Peter Schiff. He says having reserves backed by the dollar is worthless.

“Its [the dollar’s] days as a reserve currency are over. Before the dollar became a reserve currency, central banks held gold as reserves, including in the United States,” Schiff told RT last week , adding, “The reason that the dollar replaced gold was because the dollar was as good as gold, because it was backed by gold – and foreign central banks could get gold on demand at a fixed rate. It makes no sense having reserves backed by nothing.”