Posted by lamarzulli on December 10, 2012
L. A. Marzulli
Peter Schiff: Dollar Collapse Before Obama’s Out
Interview conducted by Olly Ludwig
Peter Schiff, president and chief global strategist of Euro Pacific Capital, is more than a little bit concerned about President Obama’s re-election.
Ever the provocateur, Schiff believes that the president is a socialist who was essentially elected by people who want free things—the perfect bedfellows for a Federal Reserve he argues is bent on debasing the dollar.
What does it all point to? Looking at earlier predictions of his that gold could reach as high as $5,000 a troy ounce from a dollar perspective, Schiff says it’s time to pay the piper, and said the greenback will almost surely collapse during Obama’s second term, as a whole lot of bad economic policy comes to a head.
A few months back, the citizens of Iran awakened to find their currency devalued by roughly 50%. Protests Erupt In Iran Over Devalued Currency : NPR
Of course that can’t happen here right? We are the land of the free, the greatest country on the earth! We have Manifest Destiny, we are the world’s leader, and God is on our side!
If you believe that I have some wonderful, mosquito-infested, swamp land, in Florida to sell you.
The last election showed us a majority of people want free stuff, aren’t concerned with the debt crises, believe in the nanny state and entitlements, and think government will fix all of our problems.
Meanwhile the Federal Reserve continues to print phony money, which is not backed up by anything. Uncle Ben’s magic printing press must be running 24/7 to keep up with the billions of dollars in interest alone our country must fork out to keep the financial house-of-cards propped up!
At some point this “Ponzi scheme” is going to collapse and Joe Citizen is going to be left holding worthless paper. We are poised for this to happen and I believe, as Chuck Missler states in Watchers, this is a: managed agenda.
In closing todays short post: I am very concerned with our national debt and the continues reckless spending in Washington by both parties. It seems we are headed for a fiscal collapse and when that happens it may be the financial nail, in the coffin.
What to do? I would convert some dollars to precious metals, and also buy canned food.
Ron Paul wanted to abolish the FED, and so did JFK. Both men realized the country was/is being held hostage by a cartel of international bankers. We have gone from a country that had no income tax, and a small government, to a monster that seeks to regulate every aspect of our lives. When the dollar collapses, which will be an orchestrated event, the government will step in with the solution. This is the classic Hegelian Dialectic, creating the problem then providing the solution! It’s coming…. Prepare!
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