Sunday, October 25, 2009

Dollar - The 800lb Gorilla in the room

Superb Peter Schiff interview w/Red Alert: "Get out of the US dollar"

His perspective is well worth your time - and if you agree with his warning you may want to get some gold/silver while it's still available (and a bargain), because when TSHTF and the dollar becomes a true global crisis, you'll likely be unable to find any precious metals at ANY fiat dollar price...

10 Comments:

At 10/25/2009 6:30 PM, Anonymous Willy2 said...

Yep, it's the usual (hyper-)inflation crap Peter Schiff has spouting for a long time. Yes, buy gold but both in inflation and deflation buying gold is a good move.

The fact that the RBA (Reserve Bank of Australia) is rising interestrates could - I repeat - COULD be the first sign of the demise of the dollar. The danger is that this COULD trigger the rise of rates around the globe and that would be EXTREMELY detrimental for the USD.

 
At 10/25/2009 7:11 PM, Anonymous Anonymous said...

Read this. "The USD to remain the reserve currency in this century".

 
At 10/26/2009 4:35 AM, Blogger Randy said...

As much as I like Ambrose Evans-Pritchard - I think he may have been smoking crack and/or on the take while writing that article..

With > $100 Trillion in unfunded liabilities, $12 Trillion in Debt and ~ $2 Trillion deficit each and every year for the forseeable future, there is absolutely no way the Dollar will remain the world's reserve for the next century (or even a decade for that matter).

 
At 10/26/2009 12:55 PM, Anonymous Willy2 said...

> $ 100 trillion in unfunded liabilities ? Hogwash ! As a result of the economic recession/depression the US population WILL shrink and therefore those unfunded liabilities are bound to shrink as well. A second reason the total amount of unfunded liabilities WILL go down is when (NOT IF) the average maximum age in the US goes down from 74 to say 70 or 68.

 
At 10/27/2009 12:24 AM, Anonymous Anonymous said...

Just FYI, this Schiff warning is not new. It was recorded early in the year. Here is a great version of the same Schiff recording with a cool music b/g that was posted back in May. It's still good stuff mind you, just not breaking news per se.

http://www.youtube.com/watch?v=XIZgfj7W_rE

The music edit starts at about the 3:45 position in your video.

 
At 10/28/2009 7:06 PM, Anonymous Anonymous said...

Peter Schiff says "Get out the Dollar" and the USD is going up. Yes, I will go out of the USD but NOT now !!!

 
At 10/29/2009 8:32 PM, Anonymous jerry said...

I am no longer buying into Peter Schiff's premise. I believe the dollar will go up in value. My belief, and I am only one small fish here with a single viewpoint so take it or leave it, is this----the toxic securities and derivative debt held off-balance sheet by the few remaining investment banking crime syndicate bosses were unable to sell their garbage through Geithner's PPIP give-away deal propped up by the FDIC. No one bit the hook. So the debt still remains.

As the dollar continues to fall, and the stocks continue to grow, these bankstas have made billions in their manipulative stock trades padding their balance sheets through the Fed's zero percent give-away loans. At some point, the dollar will hit a bottom. It will be then that these bankstas will write off these debts and still be solvent because of their Wall Street gambling winnings.

Bada Bing Bernanke is waiting for that dollar floor, then at that point, he raises Treasury interest rates to attract foreign currency and bond investors back to the US. And they will come.

That will be the beginning of our big time inflation, further unemployment, resumption of collapsing housing prices, and the double dipping recession.

The Fed only cares about making the bankstas solvent, the rich even richer, and the banksta's ability to increase their Monopoly Board acquisitions of properties, companies, commodities, and more.

 
At 10/30/2009 8:37 PM, Blogger BxCapricorn said...

How is it that everyone sees housing prices going down, during a period of inflation? Inflation also needs money, everywhere, in everyone's hands, competing for the same products, not just a dollar amount in a bank that is not being leveraged through loans. We're in a Keynesian, not Austrian School World. The AS economic theory sound logical, but it isn't the set of rules being applied. Get over it already! The money supply is being juiced to prevent a spiral deflation. Unless the banking industry mysteriously sees everyone able to borrow and service debt, inflation is over.

 
At 10/30/2009 8:42 PM, Blogger BxCapricorn said...

Another thing...do you think professional money managers are stupid and have no knowledge of economics? Look at the flow numbers from amgdata.com

http://www.amgdata.com/#create:home:Home:/php/signup_trial.php
and the ICI

http://www.ici.org/

Look at the last quarter. Equity funds $9.1B, Bond Funds $118B. Ask yourself why...deflation. Google "Nenner Research". Those guys were Goldman Sachs researchers gone solo. They have it all figured out.

 
At 10/31/2009 11:00 AM, Blogger Randy said...

BXCap - "How is it that everyone sees housing prices going down, during a period of inflation? Inflation also needs money, everywhere, in everyone's hands, competing for the same products, not just a dollar amount in a bank that is not being leveraged through loans"

A dollar collapse will lead to this massive inflation - however it will take place during an economic DEPRESSION.

Consumers will be pinched from both sides (an increase in the COST of living combined with a wage that will NOT keep up with inflation - simultaneous w/ collapsing asset values)

 

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