Tuesday, May 22, 2012

Peter Schiff on the Petro Dollar

Peter Schiff explains the Petro Dollar ,Once you start looking into Central Banking, you start seeing how deep the rabbit hole really is, and how hardships and turmoil have been created by central banks.

The First Bank of The United States from 1791-1811 was the first one, their charter ran out. Five years later in 1816 there came the Second Bank of the United States, which ran until Jackson killed it in 1836. Between 1837 to 1863, there were state run "free banks". 30 Years free of central banks. Then came the "National Banks" from 1864 to 1913. These were a step towards a central banking system, but it was still a disconnected network.Therefore there was 88 years without a specific Central bank in the United States. The periods *without* a central bank marked the greatest eras of expansions and growth and true building of wealth in this nation. Where we got screwed was when our dotgov passed the 16th Amendment in order to "exact tribute" from us. Notice that the greatest destruction of our nations wealth (the Market Crash of 1929) took place just 16 years after the inception of the Federal Reserve.One looks back at that era can see the the banks through the FED pulled back the money source in 1929. The population became walking zombies no had any money and no work. The Banksters went to work and bought up all the wealth for pennies on the dollar. The only problem they could figure out how to get the country out of the depression, so start WW11. Through war they made even more money supporting both sides.
Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.

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