Schiff: 2/3 of America to Lose Everything Because of This Crisis

Money Morning ^ | April 15, 2013

[ckilmer]

I like Peter Schiff but on this one he is dead wrong. The US dollar is being saved by the fantastic rise in US oil production and the sudden increase of US oil & gas reserves by 50-100 trillion dollars.

[ckilmer]

I like Peter Schiff but on this one he is dead wrong. The US dollar is being saved by the fantastic rise in US oil production and the sudden increase of US oil & gas reserves by 50-100 trillion dollars.

[EEGator]

"...soylent green is people!"

[Renegade]

Remember it well!Edward G. Robinson’s last flick!

[MachIV]

Any day now probably.

[Vermont Lt]

Yes...you are correct. But, just in case I have been collecting all three....food, ammo, and...well, some other stuff.

[albie]

These same realities will drive gold up again. Big time.

[Crusher138]

It is evident that printing money lowers its value and causes inflation, because the money is worth less.

During inflationary times interest rates rise. If interest rates rise, the US debt will increase. The only way this doesn’t destroy our economy is if the government somehow forces interest rates down. This has never been done before and no one knows what will be the result, long term.

[EEGator]

I’ve only seen Soylent Green and the Ten Commandments by him. His IMDB list of flicks is quite long. He’s a bit before my time.

[Durus]

You can't eat gold and silver. You might think that it has some intrinsic value, but unless there is some sort of stable society, it's just a sparkly bit of uselessness.

[Renegade]

Check out his old B&W gangster flicks.Really good and 95% of the prison population is white!

[GeronL]

bump

[EEGator]

Sweet, I”ll check them out...thanks.

[Wpin]

For an important hedge to help you survive more comfortably the inevitable economic collapse you may want to consider buying silver (more than gold) coins and some gold coins as well. Coins will be easier to trade and silver values are easier for normal day to day purchases...gold can be pricy. Remember, when currency collapses so will prices (I am talking after currency is no good...post inflation) gold and silver hold their “relative” value quite well. I think we will have a one to three month period where there will not be a accepted governmental currency. So, I would advise you try to obtain about three to six months living expenses in silver and gold coins...stashed somewhere other than safety deposit boxes at banks. Hope this helps...

[Wpin]

Smart money is also on land you can grow food on. But, defense, survival items are your first concern. After that...barter type items come second to mind. And of course a good supply of silver and gold coins will be helpful. Personally I am investing in solar energy so that my home will have power if the grid goes down...and in powering various outbuildings I have. I own a small farm and hope to raise food...based upon Christian principles of giving food to those who cannot afford to buy food and charge reasonable amount to those who can.

[Sam Gamgee]

Here here. As Glen Beck said, the USA will become a subsidiary of China. Where I disagree with Schiff, and with all due respect, is his bullishness of China. I see China as a corporatist state doomed to fail.