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Peter Schiff 05 NOV 08: Obama = Print Print Print Print Print

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November 08, 2008 – Comments (9) | RELATED TICKERS: UDN , GLD , SKF

Peter Schiff 05 NOV 08: Obama = Print Print Print Print Print

You can hear the complete audio here:

http://www.europac.net/media/PeterSchiff_11-05-2008.mp3

D. Walker: Total liabilities exceed networth of all American... November 07, 2008

FYI -

Argentina's Economic Collapse - Part 1 of 12

http://www.youtube.com/watch?v=rH6_i8zuffs

Argentina's Economic Collapse - Part 2 of 12

http://www.youtube.com/watch?v=whVSw5X2pVU&feature=related

 

 

9 Comments – Post Your Own

#1) On November 08, 2008 at 8:17 AM, milpo (95.87) wrote:

No joke.  The only thing that has propped the world economy over the past several decades is the labours of the American worker.  No work equals no American consumption. No American consumption equals global depression.  Add the notion that the whole world economy is based on the fiat currency known as the U.S. dollar since 1971 (which is backed by NOTHING of value except consumption by the American workforce) and you have a very bleak picture.

Heartfelt best,

Milpo

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#2) On November 08, 2008 at 11:09 AM, Option1307 (30.48) wrote:

excellant videos...

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#3) On November 08, 2008 at 2:15 PM, camistocks (< 20) wrote:

Paul Volcker who destroyed inflation in the early 1980s is backing Obama and may even become treasury secretary (although he is a bit too old for that IMO...).

Would he really do this if Obama is going on a spending spree and go for hyperinflation?

Peter Schiff is just pissed that he must pay a little bit more taxes, which certainly won't hurt him. His 80 year old father is in jail because he refuses to pay income taxes... Since his projected release is 2016 he may even die in jail. What a moron...

http://en.wikipedia.org/wiki/Irwin_Schiff 

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#4) On November 08, 2008 at 4:30 PM, Bays (34.32) wrote:

dilution is not the solution....  The demand for the USD will fall if Obama decides to print billions and billions of USD.

 

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#5) On November 08, 2008 at 5:19 PM, Option1307 (30.48) wrote:

cami,

You just pointed out the fact that Volcker is super old...maybe he lost his mind and thus a sense of logic as well. His backing Obama doesn't really mean anything I would argue. But thats just me.

While I agree Irwin Schiff is a little ridiculous in choosing jail over paying taxes, at least he is standing by his principles. Which is more than most of our current politicians...

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#6) On November 08, 2008 at 5:30 PM, jegr5347 (< 20) wrote:

US national debt went from $2.6 billion to $5.6 billion between 1910 and 2000 (90 years for those who can't count over two presidential terms) and then almost doubled to over $10 billion under Bush (8 years for those who also can't count under two presidential terms). Maybe Bush can give Obama some pointers on how to print money. No president did it better.

Not only that, he managed to take over an additional $3 trillion of mortgage debt by nationalizing Fannie and Freddie. FDR and LBJ would surely be proud of Bush, he managed to grow government much more than during the New Deal and the War on Poverty/Great Society.

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#7) On November 08, 2008 at 7:06 PM, dangerfairy (< 20) wrote:

I would argue that the contraction of credit will exceed the amount of money printed. The contraction of money will happen so quick, so fast; nobody will see it coming. Three months is all you need.

Nevertheless, gold is money. And the value of the dollar is going to skyrocket.. right along with gold.

 

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#8) On November 09, 2008 at 12:35 AM, lquadland10 (< 20) wrote:

   

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#9) On November 10, 2008 at 12:54 PM, jegr5347 (< 20) wrote:

dangerfairy hit the nail on the head. If there is one thing our government did manage to perfect was that it allowed the US to entangle the whole global economy with wreckless spending, consumption and funny paper (like credit default swaps) making sure all major economies would go down with the ship.

Lucky for us dollars will become more and more attractive as commodities deflate and other countries scurry to resolve their own internal economic mess and look for safe havens. 

 

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