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...
-
as you may have noticed it this morning many blogs hosted on blogger including mine were reporting this strange Error bX-r1ezpk ... fortuna...
-
Peter Schiff: Well, if Romney had won, we’d still have a lot of troubles. But it certainly would have been an improvement to have ha...
-
Peter Schiff Goes Toe-to-Toe With Alan Blinder, Jim Bullard Peter Schiff reconfirms that Gold is not yet a bubble even at $1150 , it is sti...
-
Alex Jones welcomes back to the show Bill Still, the producer of the Money Masters and more recently The Secret of Oz, a documentary about...
-
“Some people that got stranded on an island, and I think it was 6 or 7 were Asians and there was one American and as soon as they were on th...
-
California UCLA students protest tuition increase Build your own custom video playlist at embedr.com
-
If you want to listen to Peter Schiff's Wall Street Unspun Podcasts , here is the widget , I used to have it on the front page , But fra...
-
New Jobs data - too many in services sector most of them useless census jobs Peter Schiff on Liz's debates Charles Biderman on the new ...
-
Dylan Ratigan interviews Peter Schiff Peter Schiff : we are screwed worse (than Greece) ,... we simply inflate our way out of the proble...
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