Tuesday, November 24, 2009

Peter Schiff on Gold, Geithner, Roubini, the Fed, Housing

Peter Schiff on his end of the week wrap up last Friday comments on gold, Geithner, Roubini, the Fed, the federal government continuing the conditions that enabled bad housing loans to be made. To do this, the financially broke federal government has to borrow more dollars where ever it can get them from. Right now it is mostly from the Fed which created them out of thin air. To do this, though, the Fed needs an I.O.U. from the US Treasury, thus creating more debt in a system that already has waaaaaay too much.

That's more dollars (USD), and more **debt** by the boozos, the con artists, that are supposedly trying to fix the problem.

The reasons for having plenty of silver and gold just keep increasing. Then again, studying the history of humans and governments, this should not be too surprising. The other thing to stock up on some are paper fiat tokens rather than digital fiat tokens for the possibility of ATMs, credit cards and banks shutting down for a period of days. Paper tokens might even develop a premium over digital tokens. We'll see.

If there are long gas lines, because of price controls, you would probably be sent to the head of the line if you pay with silver.

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