its MAIN JOB IS THAT OF CURRENCY, poeple get the 2 mixed up. Gold does not create wealth, gold will not make you money, it simply holds its value relative to other things.
sure as an experienced investor buying and selling the dips and troughs and getting timig right you can make money, but the average person will not make money esp with capital gains and vat etc etc.
What it does do brilliantly is work as a currency, as simple as that. The government knows this and will prevent this at all costs. The Kruger Rand gold ouce for example from South Africa had a copper mix because they intended for it to be used as actual currency you could carry in your wallet.
Wasn't Peter in this same position in 2006? He was the dooms-day prophet being made fun of, among a few others, sounding the alarm bells and being told to cry wolf elsewhere. Gold was taken down, and everyone said it was a good thing. 2007 came and went and Peter sounded like a fool.
By 2009, he was lauded as "one of the few who correctly predicted the 2008 crisis."
And now, seven year later, here we are again with the same people mocking Peter as a gloom-seller with no credibility!
Fools! Idiots! May their 401k be trampled by the short-sellers and seized by the IRS!
"Cowards & idiots can come along for the ride but they gotta sit in the back seat!"
in a position to eliminate it's foreign oil dependency and in fact, we'll be producing so much oil we'll have a surplus that will enable us to eliminate our trade deficit, which will increase our credit worthiness so foreign countries will want to continue to lend to us and we will be able to continue operating with a huge annual budget deficit?
Geez, problems solved, that was easy!!!
"When the power of love overcomes the love of power, the world will know Peace." - Jimi Hendrix
My father, who has followed Energy Markets since the 80's is fairly convinced (Impressive if you understand his skepticism) that the oil production from the fracking industry in N. Dakota, N. Texas and parts of Colorado (Considered "hard" oil as the cost of extraction is much greater than Middle Eastern drilling) has so much quantitative value that the U.S. will be the main exporter of Oil to the E.U. by 2020.
My friend who moved to N. Dakota (Newtown) last year to run freight trucks is not only making an untold amount of money just driving, but he sees Haliburton EVERYWHERE.
What was concerning is the environmental implication of dumping the left over slurry used in the process to break up the rock from the oil. It contains a multitude of solvents that they cannot pump into the surface (otherwise it makes sinkholes), so they are paying farmers a shitload of cash to drill down below the natural water filter and releasing directly into the underground water reservoir. Not sure of the name of that basin, but IRCC it is very large and used mostly by farmers in the Midwest for crops.
He told me within the first week, every time he would shower, there would be small blood spots that formed on his legs and inner thighs. The locals, and now himself, no longer drink the tap water.
This kind of went off on a tangent for a comment... Sorry. Also, I am starting to think that Peter Schiff makes money by keeping people in a state of fear.
President or not, the Revolution is happening and it grows at the local level.
You should be on the ballot for your local Republican Central Committee.
"Things are tough now, but your kids will have a great future!"
So said a salesman at my house two months ago, assuring me all of our economic woes would be cured by the domestic energy boom which "is just beginning."
Maybe for a short period. But this boom, even if it carries into the next decade, is still TOO short and TOO short-sighted to secure the next generation's prosperity.
A report by some international energy thinktank stated the future has two ways to go: dump oil and go green now, or go oil now and pick up green later, once technologies have sufficiently improved. Their approved finding was the latter situation, claiming a far better overall reduction in CO emissions a century from now if the latter is taken. Who can say? Were they funded by Exxon? Or do they understand the greenies are no better?
Want DP delivered to your inbox daily? Subscribe here: