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...
-
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...
-
“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...
-
The devil we know is better than the devil we do not know Benbernanke did a horrific job as a FED chairman he's done a good job in tempo...
-
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... -
President Obama delivers his weekly address to the nation announcing many cuts in the federal budgetWhat do you guys Think of this ???
-
Stossel's Myths: Is Oil Truly Scarce? Is Peak oil just another media myth ? Are we really running out of oil, or are we just lazy in our...
-
Apr 16 : Finally something is starting to change , The government is now accusing Goldman Sachs & Co. of defrauding investors by fail...
-
By BEN STEIN Published: May 23, 2009 THE future is now. To see how history might look back on our economic crisis, we bring you this excerpt...
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