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
-
The Dollar will collapse the Credit cards bubble is about to burst , buy Gold Buy Silver save your assets ...The dollar will drop like a sto...
-
A very strong debate yesterday on MSNBC between Peter Schiff and the host on the Ed show on two major topics the healthcare reform and the s...
-
By Peter Schiff I've made a living out of exposing economic fallacies, but there's one whale that I can't seem to harpoon. Eve...
-
by Peter Schiff Strike up the band, boys, happy days are here again! Recently released short-term economic dat...
-
government created jobs like the census jobs are counterproductive and unproductive jobs ... Peter Schiff is considering to run for Senate !...
-
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 : We need to have a Massive Recession and Peter Schiff: Why College Tuition Is So Expensive Lessons from the Crisis: The Limits...
-
By Peter Schiff | March 01 2013 8:41 AM Testifying before the US Senate this past Tuesday, Fed Chairman Ben Bernanke made an extraordinary c...
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