Ben Bernanke briefed the military on why the Federal Reserve is so important and why the Gold Standard won't work , Peter Schiff responded arguing that " we financed the industrial revolution , in the 19th century we converted America from a nation of farms to a nation of factories on a gold standard " "the entrepreneurs were able everything they did on a gold standard " Peter Schiff added "obviously that's a just a bunch of propaganda by the government , government want paper money they do not want to be on a gold standard because they want to be Santa Claus they want to spend money they want to pretend that there is a free lunch they want to give something for nothing they want the power , Gold puts the power to the people fiat money gives the power to the government so that's the reason they oppose it ....."
PETER SCHIFF
Subscribe to:
Post Comments (Atom)
Popular Posts This Month
-
Here are some of Peter Schiff's Quotes , Please feel free to post more , and I'll make sure to add them to this list ...let's ma...
-
Peter Schiff The Schiff Report Video Blog May 04 2009 The Stocks are rising is it a recovery ? or is it just a bubble economy waiting to bur...
-
by Peter Schiff Strike up the band, boys, happy days are here again! Recently released short-term economic dat...
-
John Browne from Europacific capital and also a member of the British Parlement May 11 on Fox Business : The 7 trillions deficit is equals...
-
Peter Schiff may be running for Senate Peter Schiff seems to be serious about running for senate ..after that yesterday Peter Schiff told...
-
Peter Schiff The Crisis Has Just Begun
-
23-03-2009 Peter Schiff: You're Better Off as a Renter Part 1 of 2 : Part 2 of 2 :
-
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 hea... -
as you may have noticed it this morning many blogs hosted on blogger including mine were reporting this strange Error bX-r1ezpk ... fortuna...
-
Mon. May 4 2009 | The stock markets are rising worldwide ..is it already a recovery would you invest your money in the housing market now ? ...
Ben Bernanke spins a tale of horror about the gold standard. First, he overstates and embellishes the case. #2 - he neglects to mention the role of government interventions in those problems which did exist (such as the Greenback era). #3 - problems were even worse under the Federal Reserve. For instance, he speaks of inflation when technology made it easier to mine gold. Yes - but what about the ease of printing paper today? Everybody outside of the US knows that the Fed exports inflation wholesale. Lastly, as Peter Schiff mentions, governments back inflationary fiat currency because inflation is good for governments, at the expense of the rest of us.
ReplyDelete