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Schiff: QE is Final Nail in Dollar's Coffin (VIDEO)

Schiff: QE is Final Nail in Dollar's Coffin (VIDEO)


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If I'm In The Market For Gold And Silver

Do you think I should by from Schiff's company? I live close enough to go there in person.

What about putting my IRA funds into gold and silver? Is that the same kind of thing?

Thanks, one and all.

"Bipartisan: both parties acting in concert to put both of their hands in your pocket."-Rothbard

Peter's big miss

Peter spends a lot of time discussing (and ridiculing) Bernanke's rationale for trying to create a new housing bubble. But he doesn't touch on the Fed's real reasons for buying up mortgage-backed securities:

1. They are worthless or worth MUCH less than their face value.
2. Banks own them. Hundreds of billions of dollars worth.

This is another taxpayer-funded bailout for the banksters, thinly disguised as "economic stimulus." It will do the OPPOSITE of stimulating the economy -- it will transfer money from profitable businesses to banks that NEED to fail, for a real recovery to begin.

Recommended reading: The Most Dangerous Superstition by Larken Rose

fireant's picture

Bank bailout, yes sir.

How much of that 40b a month will get into the economy?
I know one thing, if it doesn't inflate, markets will be in for a shock. I think Peter is early, and it will take a lot more from the fed to spark inflation, though the expectation could last a few quarters. Eventually though, Peter will be proven correct, because at some point the fed will have done too much, and it'll hit hard all at once.

Undo what Wilson did

Excellent book recommendation

If everyone read that book, Gov't would NOT be what it is. Pompous,covetous,False authority (which is 99.9% of gov't) would be scoffed, ignored and put in its place. We might even get another shot at a republic..
Alas, stupid, ignorant,decieved, brainwashed,compliant sheople.
Hate to see what its gonna take for em to wake up and grow some balls.

A patriot must always be prepared to defend his country from his government.

If everyone read that

book, government would not be . . . period. We wouldn't NEED another shot at a republic -- because a "republic" is just one more game of masters and slaves, and to play the game at all is to lose. Rose would like us to treat ALL forms of government as Dr. Paul wants to treat the Income Tax: get rid of it and replace it with -- NOTHING.

Recommended reading: The Most Dangerous Superstition by Larken Rose

Not really

Not really a big miss this is more then just a bankster bailout. This is the end game to implement a new world currency

End The Fat
70 pounds lost and counting! Get in shape for the revolution!

Get Prepared!

Schiff missed THAT too.

Didn't he? He goes on a bit about how the Fed's professed plan can't possibly work, but he really doesn't offer any suggestions as to what other purposes the Fed policy may be designed to accomplish.

Is this Fed policy deliberately designed to ruin the dollar? I don't know. Maybe Bernanke & Co. are just enormously stupid. The Fed's only monetary tool is their power to control bank credit via interest rates. Should we be surprised that all their "solutions" involve issuing more credit? I've seen lots of evidence of Bernanke's pigheaded stupidity, but none whatsoever that he might be a brilliant evil conspirator.

Recommended reading: The Most Dangerous Superstition by Larken Rose

I guess this means they won't be making pennies anymore

But, I wonder whose picture will be on the new fifty dollar coin?

Alternative Monies

What alternative commodities will pop up and serve as money when the dollar reaches the point of no return? These are a few I have in mind:

Gold - good for large value exchange, not so good for small day to day exchanges

Silver - good for planning a week's worth of goods and services

Bitcoin - good for decentralized credit network, bad if the power goes out or internet goes down (though now would be the time to play around with solar panels and mesh wireless networks for the neighborhood)

bottled water - good as an essential quantized commodity that doesn't spoil (for a few years)

cigarettes - known to work well in prison, bad because we aren't in prison (technically)

plant seeds - good for a potential source of food, bad because the shelf life is only a year or two (from what I can tell)

chickens - good for eggs and meat, bad because they require food (in the sense of money, not as a creature)

batteries - good because people will need them for electronics if the power grid is unreliable, bad because they expire after so many years

pocket change - good because they're recognizable and already exist, bad because people would initially value them at face value
(I'm thinking that there is a finite supply of pennies, nickels, dimes, and quarters (hard money) and they might start trading as a monetary group separate from whatever $ value is labeled on them. For example, something may cost $50 if paid digitally with a credit card, but concurrently cost two quarters if paid in actual change since the digital record at the bank is just a number on a computer with its value controlled by the Fed.)

pogs - scarce and buried in attics and basements, bad because they're easy to make which will make them not scarce

bottles of alcohol - good because they have a long shelf life, bad because glass breaks easier than other materials

car alternators - good potential for 12 volts potential for charging batteries or powering electronics temporarily, bad because it needs a rig to sit in and labor to make the voltage
(assuming gas becomes too scarce to buy or too much, rendering cars useless as cars)

In America, it's not very common to use or think in terms of multiple currencies/monies, but that's what we get when one entity has a monopoly in the market for money. If the items above are used, I don't think it would be one item used solely. I think each one would have its own time preference for trades. Gold might be thought of as a yearly trade, silver as a monthly trade, bottled water as weekly, etc.

What would you use as money? What would your neighbors use?

reedr3v's picture

bump for more eyes


And another bump

for the evening gang.

Recommended reading: The Most Dangerous Superstition by Larken Rose


Bullets will be a highly sought after commodity and currency. Although maybe not those who have them may not want to give them up...

End The Fat
70 pounds lost and counting! Get in shape for the revolution!

Get Prepared!

The Fed has checked into the Roach Motel

of monetary policy ... but it can't check out."

Classic. lol at 5:50

I will edit this for a Liberty Laugh.

Yea...that was a great

Yea...that was a great comment!!

If my need to be RIGHT is greater than my desire for TRUTH, then I will not recognize it when it arrives ~ Libertybelle

Gotta love it when Peter says

"This is the Crazy part of it. Its almost like its a Fantasy or Im in a Dream because its Impossible for me to actually Believe that this is Actually happening. That im actually hearing what im hearing or seeing what im seeing."

His name is Edward Snowden

What is Capitalism?

"All out crisis." is right

Will the complete destruction of our economy finally start to wake the people of this country up? Maybe it's worth it. There are worse things than being poor- like complete loss of freedom, world war, nuclear war, a detainment camp and/or death by hollow point...

Or, is complete economic failure what "their" intention has been all along?

This may be their final push

This may be their final push crash the dollar and to roll out their world currency and reboot the inflation clock. IOW so they can restart the system all over again with a new currency at 10 cents on the dollar bankrupting everyone. In which case they transfer all the wealth and property to the themselves. (banksters) But out of the goodness of their hearts to help us all out they will offer to sell it back to us with low interest loans and we are right back were we started 40 years ago so they can blow up the ballon again...

Same pig different color lipstick and a new dress... Hopefully the peasants will get wise this time...

End The Fat
70 pounds lost and counting! Get in shape for the revolution!

Get Prepared!

Excellent Video - Here We Go, I Hope Everyone is prepared

Here we go, I hope everyone is prepared, this is it, the final run up to crash the dollar and the economy. The Feds answer is to create another housing bubble bigger then the one that popped in 2008. A super housing bubble that will seal the fate of the dollar and economy.

The geniuses at the Federal Reserve have concocted a bold new plan to revive the U.S. economy -- print a bunch of money, loan it to Americans at super low interest rates so they can speculate on rising real estate prices, extract the appreciated equity and spend it on consumer goods. In other words, build an economy of real estate, by real estate, and for real estate. The only problem is we've been there and done that. The last time it almost destroyed the U.S.economy. I guess almost isn't quite good enough for the Fed, so now it's determined to finish the job

Operation Screw indeed. This is not QE3 it is QE to infinity and beyond. Don't dismiss this Peter is making perfect sense and has been right far to much to dismiss him.

Definitely worth the watch!

End The Fat
70 pounds lost and counting! Get in shape for the revolution!

Get Prepared!