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overtheedge
Member since May 2012
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The Great Gold Redemption

- Peter Schiff - Euro Pacific Capital

"... , I expect that this will shake confidence in fiat currencies for generations to come."

Really? It sure didn't stop a whole slew of countries over the last few decades. Germany brought out new Marks after the Weimar debacle and then supported the creation of the Euro.

No. After reading the minute by minute record of this collapse, the experts will loudly proclaim they have it figured out. Always bet on human nature. The masses will again turn to the self-proclaimed experts.

And they do it out of conditioned fear. Why do you think most of the economy is fueled by sort of insurance, public and private? Even our military is insurance.

Don't scare the sheeple.

However I think a few larger countries with an ample resource and industrial base might sit it out for awhile by severely limiting imports. Some things will just become luxuries and be produced in-country.

The key will be to avoid war. Even the winner is a serious big-time loser financially. Like I said, "Don't scare the sheeple." And always remember, people vote for people like themselves; only richer.

Commented 4177 days ago

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Beginning of the headline :The most puzzling part of the investment business is seeing how the vast and largely economically illiterate masses interpret any given piece of news. Take the recent gold selloff: many large players were motivated to sell by news that Cyprus will have to liquidate its gold stockpiles to pay off acute debt obligations. But just a moment's reflection shows this reaction to be knee-jerk.The real story behind Cyprus' deal has much more profound ramifications - and they are positive for gold.The Rig... Read More

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