PETER SCHIFF 8/28/2009: teaching CNBC a lesson!

President and Robert Bork is not now sitting on the supreme court. Smear campaigns will be and have been the way this is done. They will find some dirt or makeup some.

In Peter's case, they will certainly use his imprisoned father as a way to sway public opinion against him.

He's always complaining about Americans spending money. Well for my part, if course I'm going to spend my worthless fiat money and get something of real value. He doesn't speak in sense he speaks in triteness.

Huh? I don't think he could be more clear that he urges his investors to buy gold, commodities, and foreign assets. Get out of the dollar and put your savings in something that will avoid tanking with the dollar.

If you ask me you spend the fiat on gold and silver and save that.
Peter Shiff would say the same thing. I never tire of Peter Shiff waking up the masses. Remember the sheep only believe after hearing something over and over and over again. Just be thankful they're being programmed with structural advice now from at least a small and growing resource.

I disagree, I think the implication with Peter has always been getting out of the US dollar. And he's made it clear in his books, radio show, vlogs, and newsletters what he recommends saving. Americans shouldn't be basing their decision on what to save on a 5 minute CNBC video clip with 2 minutes of Peter responding to a question. If they want to know more, they got plenty of Schiff resources.

if the majority started saving, all those people are keeping their dollars out of circulation.

they're also not borrowing, so creation of debt money from them is also not happening.

this would cause a recession, and had people started doing it in late 2005, 2006, perhaps even 2007, you would have seen a controlled decline, with perhaps 10 years of deflation, and the strengthening of the U.S. dollar in jaw dropping amounts.

but people didn't do that because they're ignorant, they think life is about what you can get on debt. 3 bedroom-2bath-2car garage, white picket fence, 2 brand new SUVs, endless entertainment for kids and family., etc etc etc.

so late 2008, the people who aren't so ignorant saw that the bubble had overrun it's course and in this giant game of chicken, with all of us racing toward a cliff, then came black sunday 09/15/2008, and many many entities knew it was time to bail, and slammed on the brakes, or simply jumped.

things can't go up forever. especially at the insanely heated rate that they had been going up at...

the citizens of the U.S.A. have the responsibility to keep our government in check, and to keep our fiscal entities in check.

we do this by: obstructive voting at the national level, and constructive voting at the local/state level. and by being very very conservative with money and debt.

well, we're doing the exact opposite.

so when Peter says "we should be saving our money"

That is his answer to a big picture solution, because there is no other solution at the macro scale.

Those aren't his instructions to individuals at the moment.

His micro scale answer is, nobody is going to do the right thing, so this ship is done for, barring a miracle. And you better protect yourself. Maybe we have 1 year to prepare, maybe 30. Either way.

So how does one prepare?

Anyone reading the DP for any length of time, should know by now that debt is bad stuff, and not to be trifled with. So you should already be out of debt. Next thing is to save money, because you can't "abandon" the dollar, if you don't have any to abandon. So you save money.

You start to move some of that money into hard assets. Notice I said "some". We don't know the future, and we still need dollars to live. So while buying a little land, and a bit of precious metals, or some water rights, or some of Peter's recommended overseas dividend paying stocks, you still need a safety net of cash. Over the coming years, you could be sick, you could be fired, etc.

So.

That's the short answer.

do you need him to lead you by the hand or can you think for yourself?