"The Reaper" Peter Schiff on Lew Rockwell's Podcast

I'm sorry this is off topic...but what happened to the petition re: Obama's birth certification? The more I see this matter of constitutional law being swept under the rug...the more and more fearful I become. The blatant arrogance and disregard by those in power and authority for people and their rights is scaring me.

Runaway inflation will lead to price controls which will lead to shortages of food and power (brownouts), long lines, civil unrest, etc. Schiff doesn't usually go so far, but it's interesting to hear his talking about that stuff. I hope everyone prepares as best they can.

Ok, for one thing I don't think Schiff quite anticipated the amount of COMEX metals price manipulation going on. It's completely absurd what they are doing as there is no gold or silver to be had anywhere. It's almost like the dollar is being driven up deliberately while gold and silver prices are being held down artificially so all the rich bastards can hoard it all. In about 6 months or so, though, the temporary party of (recently) low oil and metals prices will end and so will the dollar run. Every one who says investing in gold, silver and international stocks is the overall best move now is right about being a long hold, so be patient and stop freaking out about not having immediate returns.

Take a look on ebay at what gold and silver are selling by the ounce, compared to the COMEX prices, and that should give you an idea about the manufactured market versus the REAL market. With these conditions, metals price up support should be broken on a weekly basis, but these low prices are driving mining companies to slow or halt production because it's not worth it right now, which compounds the problem because everyone wants it and no more is being produced. In a truly free market, the price would skyrocket in concert with the demand, which would in turn spur production on because the mining companies have a good reason to get to work. When the demand died off, they would stop producing so much. But instead we have Paulson stealing from the taxpayers and giving it to his global banker cabal buddies in a seemingly deliberate attempt at destroying what's left of America.

Also, diversify - this is like the fundamental concept of all finance. Don't put your eggs in one basket cuz there ain't ever gonna be one basket that does it all for you, not often anyway and it's not worth the risk. Things that may not have immediate monetary value but could be of total importance to survival in the event of a total economic collapse are worth investing in, like that water-from-air machine (5 days without clean water and you're dead), storable food, weapons and ammo, basic medical supplies, land you OWN (preferably with good groundwater or river water source and food growing potential) and so on, as well as the usual ways of diversifying such as buying different currencies, buying other metals and other commodities... actually that can be a pain in the butt if you don't have much time to devote to it, which is why instead you turn a good bit of your extra income over to people like Schiff who will try to do these things for you. Especially while the dollar is temporarily strong and we have deflation (prices on goods are going lower, which is great for consumers with money, but bad for businesses with inventory that cost them more than they can sell it for) it's a good time to buy stuff you really need, like all that crazy survival stuff, stuff you actually need that lasts and has real value to YOU.

BTW I agree that you should be patient (as with all real income earners) and focus on the long-term, but don't ever look to make some quick, short-term gain like these crooks on Wall Street who fabricated an entire multilevel ponzi scheme that is so evil that it is literally destroying the world's economy. I mean, it's like betting on someone else's bet, who in turn is betting on someone else's bet who is betting on something risky. Total madness.

Also, like with anything else no one person has all the answers - you have to understand some of this stuff yourself so you can make informed decisions without being totally at the mercy of someone, or even if you're going to do that you should be at the mercy of multiple people with different approaches.

Thanks to both Pdubya and Deoptics8. You've reminded me that once again I may just be a little "early". I sold out of all my real estate 2 years ago, and that was a little "early" here in Boulder, CO. I got out of the stock market completely, in August of 2007, also a little "early". (but not by much!!) I bought precious metals while you could still get them, and that is a case where it was GOOD to be "early". If/When the dollar crashes, there will be a panic and once again it will be a good thing to have been "early" in getting out ahead of time. I've reduced my bank account to levels which are just needed to operate a normal life and shouldn't be hurt if there is a "bank holiday", so I'm losing a little interest in order to be out "early" ahead of possible bank runs. In short, I think I've done all I can do, so I've decided not to piss & moan about the Europac loss. After all, it's only a loss on paper until you sell it.
Many thanks for helping me get my head back on straight!
I believe that Peter Schiff, like Dr. Paul, is an honest man who wants to help others benefit from the truth.

I went in EuroPac in May and bought Copper/ Nickel mining, Canadian Oil Sands, Petroleum and Gold Mining. I am down huge since May on top of the dollar being king right now. It has destroyed my IRA's on top of the currencies adding a double whammy. I don't even look at my statements and its hard to talk to them when you have lost most of your initial investment. If I was in U.S. mutual funds for my IRA's it would be just as bad and getting worse. I am getting dividends from my stocks as a positive sign. After 6 months and the beating I am taking, I believe Peter is still right and that I came in at a bad time. I am not in it to trade stocks however. I am in it as LONG term investment. I will continue to make dividends and I am about to shovel the rest of my money in as the P/E are awesome and I believe we are close to the end of King Dollar, a bottom of oil and gold. The stock market here might bounce back up but when it does, the value of the dollar will be worthless and my stocks in real assets will go up in value and not in nominal terms.

I was early as I am sure many others were that signed up earlier this year. In a few years I am sure inflation will be rampant here and the dollar will be worthless. Get out of the dollar and into these cheap stocks that pays dividends and in gold. Too bad the Perth Mint suspended orders.

I got my 401K all in cash now for 3 months and I am about to switch to an international fund. I try to invest in gold/silver and I use EuroPac for mining stocks and GoldMoney for gold/silver close to spot and out of the U.S. Get out while you can, I just wished I waited but I am still ok with my decision.

Peter Schiff's managed fund.
Thanks Pdubya for the encouragement. I really need it. I waited for 8 months after opening the account before funding it, and now I wish I had just left the money in the money market acct.
I went to Peter Schiff's presentation in Minneapolis the day after the Rally for the Republic, and he said that the fund was down, but that it was a good time to get in then because the dollar had improved so much. He makes a great case, and I agree with his logic, but when you see the bottom line on your balance sheet disintegrate before your eyes in 8 weeks.......OMG!!
It shakes my faith in the last thing I thought was reasonable.
I'm being reduced to that overused platitude....hope.

my retirement. Down 30% in the two months since I opened the account.
I thought I was "avoiding" the decline in the market, now I just feel like a sucker.
Sure, maybe Peter Schiff will continue to be correct in his predictions. Maybe the dollar will fall SOMEDAY. I just hope I have some money left by then. I'm already in a place that I now have a huge deficit to make up, just since the second week of October. Not feelin' the love much anymore.