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Peter Schiff: No Difference Between U.S. and Greece

Tuesday, June 30, 2015 8:08

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(Before It's News)

By: Voice of Reason

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www.thelastgreatstand.com

In the video, Peter Schiff and Mike Maloney discuss why gold is the ultimate hedge against the government’s irresponsible monetary policies. They explain the problem that is confronting every American thanks to our government. We are the largest debtor in the world, with no way to repay our debt, and the worst part is we are still spending like drunken sailors. The video covers the technical reason WHY Gold is so important.

When a government gets in as much debt as we are, it has three choices, and three only. It can 1) Tax the living snot out of the citizens to the point that even having enough for basic necessities would be a challenge for most; 2) Default on the debt which would mean no more social security, no more payments on treasury bonds etc.; or 3) Reduce the debt by printing more Dollars and inflating the debt away.

Our government has repeatedly chose option 3. If you are someone who borrowed in the currency being inflating (Dollars in this case), you can pay down the debt quicker, because each dollar being paid down is worth less. For those who are in debt up to their eyeballs, good for them. For every responsible American with savings, the ones who COULD be investing that money in expanding business and creating jobs, Inflation is the ULTIMATE tax that just sucks the buying power their of your money. Only in America do the politicians punish good stewards and savers of money at the EXPENSE of the country, strictly to benefit their own political careers.

If you hold American currency, or anything denominated in Dollars (and that includes stocks in the U.S. denominated Stock Market), the government can steal your money without your permission. All it has to do is run on the printing presses. The reason GOLD is so precious, and it’s value keeps increasing, is because government cannot do that! Neither Mike nor Peter like to predict a final price for gold. However, they agree that given the history of paper money systems, gold will be heading much higher when priced in US dollars. How much higher?

THE LAST GREAT STAND PREDICTS THE AFTER THE FINANCIAL MELTDOWN, THE DOW AND AN OUNCE OF GOLD WILL BOTH BE BETWEEN 3,000 AND 4,000.

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