# GSR interviews PETER SCHIFF - Nov 27, 2013



## BillS (May 30, 2011)

I watch a lot of videos. I try to add as much as I can to my knowledge base.






Some points from the video:

China has announced that they'll no longer prop up the value of the dollar. Which means they won't buy dollars to keep the value high and the value of their currency low. Other countries in the region are expected to follow China's lead.

Right now 2 out of every 3 treasuries are being bought by the Fed.

Most homes sales are to speculators paying cash.

The government is falsifying the CPI (Consumer Price Index) and GDP numbers. The rental value of the home you bought and are living in is added to GDP. Owner imputed rent is 40% of CPI. The government claims rent increases are minimal despite the fact that the cost of rent has increased significantly across the country.

To me, the most important point is this:

*Peter Schiff said that the Fed's Operation Twist, their buying long term treasury bonds and issuing short term lower interest bonds, may allow China to get completely out of treasuries without dumping them on the market*. They could just redeem them when they're due and then not have them anymore. The Fed would just create whatever money is necessary to pay them off.

The Fed keeps promising to taper and keeps the stock market from fearing dollar devaluation. Eventually the market will figure out that tapering will never end and that will cause a big drop in the market.


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## Cast-Iron (Nov 8, 2013)

I agree there's a huge problem with Quantitative Easing. However, Peter Schiff and Gerald Celente (among others whose opinions I do respect) are in the precious metals business. It behooves them to keep folks alarmed, because that is what tends to motivate people into investing in gold and silver. I think holding some assets in PMs is a proven means of wealth preservation, but it is not now and never has been a get rich quick scheme. Everything in moderation including asset allocation. If you don't have adequate shelter, security, and food stores, you probably don't need to be investing heavily into physical gold and silver just yet. If however, you are sitting on piles of greenbacks and your preps are in order, you should consider diversifying at least some of those bits of paper into one or more classes of commodities. This should help protect its purchasing power against the inevitable collapse of the federal reserve note.


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## hiwall (Jun 15, 2012)

Bill, I have to say the "some points from the video" are all pretty much fact and are very troubling indeed. 
Is there anyone on this forum that thinks we can ever get out of this debt hole without losing alot of blood?


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## BillS (May 30, 2011)

Cast-Iron said:


> I agree there's a huge problem with Quantitative Easing. However, Peter Schiff and Gerald Celente (among others whose opinions I do respect) are in the precious metals business. It behooves them to keep folks alarmed, because that is what tends to motivate people into investing in gold and silver. I think holding some assets in PMs is a proven means of wealth preservation, but it is not now and never has been a get rich quick scheme. Everything in moderation including asset allocation. If you don't have adequate shelter, security, and food stores, you probably don't need to be investing heavily into physical gold and silver just yet. If however, you are sitting on piles of greenbacks and your preps are in order, you should consider diversifying at least some of those bits of paper into one or more classes of commodities. This should help protect its purchasing power against the inevitable collapse of the federal reserve note.


It goes without saying that you need to be fully prepared and then have your savings in precious metals. You accused Peter Schiff of unnecessarily alarming people in order to get them to buy metals. It's really inexcusable to call into question someone's integrity without providing any proof. So what did Schiff say that you think was false or an exaggeration? The fundamentals for a currency collapse are all coming together. I agree with what Jim Willie said: he's amazed at every month that goes by WITHOUT a collapse.


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## BillS (May 30, 2011)

hiwall said:


> Bill, I have to say the "some points from the video" are all pretty much fact and are very troubling indeed.
> Is there anyone on this forum that thinks we can ever get out of this debt hole without losing alot of blood?


I don't know how you do it. The Fed is creating money to buy treasuries and municipal bonds, prop up American and foreign banks, and fund the deficit. That money is in the American and global economy. There's a lie out there that all QE is held by banks so the Fed can easily wipe out all the funny money but that's just not true.


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## Cast-Iron (Nov 8, 2013)

BillS said:


> It goes without saying that you need to be fully prepared and then have your savings in precious metals. You accused Peter Schiff of unnecessarily alarming people in order to get them to buy metals. It's really inexcusable to call into question someone's integrity without providing any proof. So what did Schiff say that you think was false or an exaggeration? The fundamentals for a currency collapse are all coming together. I agree with what Jim Willie said: he's amazed at every month that goes by WITHOUT a collapse.


Whoa Nelly!

Now hold on there Mr Bill, I didn't accuse anyone of anything. In fact I said I respect Mr. Schiff's opinion (refer to my post). So don't get your panties in a wad. I was merely pointing out that Mr. Schiff and many of the others you'll find on YouTube who are presently stirring up the investing masses, also happen to be in the precious metals business. Is their message still valid? I think it is, but there's no sense in reacting impetuously. We've been under QE for some time, and its no national secret that the Chinese are pi$$ed off at our lack of fiscal restraint. What is not so certain is that precious metals are your best investment choice. That is between you and your investment advisor. I do think that many other commodities classes offer similar protection and perhaps better value too. But again, I'm not your investment advisor. I am merely reminding folks not to put all of their investment eggs into one basket/sector/commodity/whatever. Have a nice day!


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## Woody (Nov 11, 2008)

Cast-Iron said:


> Whoa Nelly!
> 
> Now hold on there Mr Bill, I didn't accuse anyone of anything. In fact I said I respect Mr. Schiff's opinion (refer to my post). So don't get your panties in a wad. I was merely pointing out that Mr. Schiff and many of the others you'll find on YouTube who are presently stirring up the investing masses, also happen to be in the precious metals business. Is their message still valid? I think it is, but there's no sense in reacting impetuously. We've been under QE for some time, and its no national secret that the Chinese are pi$$ed off at our lack of fiscal restraint. What is not so certain is that precious metals are your best investment choice. That is between you and your investment advisor. *I do think that many other commodities classes offer similar protection and perhaps better value too.* But again, I'm not your investment advisor. I am merely reminding folks not to put all of their investment eggs into one basket/sector/commodity/whatever. Have a nice day!


And what would these be for you? I am of the 'if I don't hold it I don't own it' group. I'm not looking for financial advice, just suggestions as to where you put your extra fiat?

I feel I have a pretty good stock of food and sundries on hand. I am invested in some gold, mostly silver (I feel it is way under valued at this time). I also have sheet copper and enough tin to lock it together. The rolls of 95/5 silver solder I have are worth way too much to waste on production purposes!


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