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Peter Schiff: Countries Flee to Gold for Safety, US Dollar Closer to Collapse (Videos)
In a post yesterday titled, Peter Schiff: Gold and Currency Markets Expose U.S. Recovery Myth As Lies, Peter Schiff revealed how despite the best efforts of the Obama administration and the Fed to mislead the American people and the world, the gold and currency markets do not lie about the true state of the American economy. It’s all one big illusion, it has been for some time, and eventually the magic trick will come to an end, crushing millions when it does.
Those who keep peddling the lie that the American economy is doing great continue to rely on the same misleading facts. As Peter points out in the video below, no one is arguing that the stock market is going up. The issue is that it’s not rising as fast as gold and silver because of the constant debasing of the Dollar, and it’s only rising in terms of the U.S. Dollar, nothing else.
Since the U.S. Dollar has been declining against currencies all over the world, the stock market isn’t really rising in terms of its ability to to purchase goods and services, which is ultimately why people have their money there in the first place. At some point they plan to use it. The reality is that the U.S. markets are actually declining in terms of the purchasing power of the dollars held within it. It’s an illusion being used to fool Americans into thinking Obama’s policies have worked in an effort to elect another Democrat.
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Another perfect example Peter gives in the video above about how everything the mainstream media is reporting is nonsense, is what is happening with Intel. Intel recently announced they are laying off 11,000 workers, presumably all with very rewarding pay. If/when those workers are forced to go out and find two to three part time jobs, perhaps bartending or waiting tables since there are no ‘real’ jobs out there (ask the 100,000,000 out of work now), then Obama brags about his job creation numbers. The whole thing is a farce, and Democrat voters are falling for it hook, line, and sinker.
Politicians in general, but the Democrats in particular, are all too willing to cannibalize the future of tomorrow for votes to get them into office today, and for a while they could get away with it. Now, the country is on the verge of implosion, and they are playing with fire. Inflation is going through the roof, but the government has doctored the numbers to keep the lie going, otherwise the Fed would have raised rates already, and OBVIOUSLY that’s proven not to be a viable option right now.
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If you doubt inflation is skyrocketing, take a look at oil prices going up almost 4%, rent prices going up 8%, and skyrocketing food and health care costs. Conveniently those numbers, along with any other numbers that matter, are left out of the government’s inflation figures as a means to continue to lie to the people. The unintended consequence of that lie puts corporate earnings under even MORE pressure now, because consumers no longer have discretionary income to spend on goods and services that they otherwise might. When corporate earnings all start falling short of expectations, that leads to even more layoffs. See the pattern here? Government meddling causes a never ending parade of horribles that could otherwise be avoided if the free market was allowed to function.
As you’ll learn below, all of this is going to lead to the continued selling off of the Dollar, leading to its ultimate collapse. Don’t miss the video at the bottom with John Williams on the inevitable collapse of the Dollar coming soon. In it he says:
“The dollar will blow up, and when I say blow up, it will collapse. There will be panic selling of the dollar, and that will intensify the inflation. The problem is they don’t have a way of avoiding it. If they could somehow get the economy back on track, they would have some room to work, I think, but the economy has never recovered. That’s being seen now in these revisions.”
Since the beginning of the year there has been not just a reversal in market sentiment for gold and silver, but a complete sea change in what is the right safe haven to move one’s assets into. Prior to January of 2016, the U.S. dollar was by far the currency in which central banks and foreigners put their money to protect against their own monetary policies of devaluation. But as gold broke through its five year Bear market technicals in January, the dichotomy between the rise of the precious metal and the decline of the dollar has become much more profound.
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We have started to see selling pressure on the dollar. It has been inching lower. It’s down year to year now. . . . The selling is going to intensify, not only with large central banks, but with corporations that will be beginning to dump their Treasury holdings. . . . Nobody wants to be the last one out the door when you have a panic like this. It’s not a panic yet, but the potential certainly is there.”
Williams also says, “The dollar will blow up, and when I say blow up, it will collapse. There will be panic selling of the dollar, and that will intensify the inflation. The problem is they don’t have a way of avoiding it. If they could somehow get the economy back on track, they would have some room to work, I think, but the economy has never recovered. That’s being seen now in these revisions.
At the end of this week, we are going to see bench mark revisions to retail sales. . . . So, you are going to see some downside revisions to the retail sales. You already have it with industrial production, and now you are going to have it with retail sales. We are very close to turning negative with the first quarter GDP . . . We are in a recession now, and they would be inclined to call it that once they get a contracting GDP, and everything else is beginning to show that. . . . You are going to see a formal recession declaration not too far down the road. It hasn’t happened yet, but it will.” – USA Watchdog
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IF YOU READ NOTHING ELSE, THE FOLLOWING POSTS ARE ESSENTIAL:
What Exactly Does Global Economic Collapse Coming May 2016 Mean?
Dr. Willie and Peter Schiff Together: Total Currency Collapse and Reset Coming
When Obama Suspends 2016 Election, a Guide to Survive Martial Law (Videos)
Jim Willie: How the Loss of the US Dollar as Reserve Currency Affects You Personally
Economic Implosion Will Lead to Stock Market at 5,000 by 2017 Forecaster Says
Ron Paul, Jim Willie, Peter Schiff, and Collapse of US Dollar on a Global Scale
FOR MORE GREAT MATERIAL FROM JIM WILLIE:
Dr. Jim Willie Reveals the Most Unusual About the Looming Depression – Pt. 2
Dr. Jim Willie Reveals the Most Unusual About the Looming Next Depression
Dr. Jim Willie: Western Economic Markets Collapsing; Eurasian Markets Rise
Dr. Willie: Economic System is Collapsing Right Now; Us Dollar in a “Short Squeeze”
Dr. Jim Willie: The Dollar is Dead! Even Mainstream Media Realizes it!
Dr. Jim Willie – Secret Meeting at the G20 to Take Down the US Dollar
Dr. Jim Willie: Financial Deals Happening Behind Closed Doors; US Not Invited
Dr. Jim Willie: Economic Collapse is On Our Doorstep
Jim Willie: “The Quickening” is Approaching Global Economic Markets
Jim Willie: Both Our Allies and the American People Absolutely Hate Our Government
Jim Willie: U.S. Dollar is Now a Matter of National Security Due to Poor Decisions
Jim Willie: Armageddon Coming to U.S. With Trillions Exposed In Derivatives
Jim Willie, the Crumbling Global Economy, and the Dollar Crisis
FOR MORE GREAT MATERIAL FROM PETER SCHIFF:
Peter Schiff: “Trump’s Very Massive Recession May Have Already Begun”
Peter Schiff: Americans Fear Future With ‘Dead-End Economy, Crap Jobs, and Awful Wages’
Peter Schiff: “Can Donald Trump Really Make America Great Again?”
Peter Schiff: Dollar Collapse Will Be the Single Biggest Event In Human History
Peter Schiff: Obama “Peddling Fiction” As Unemployed Tops 100 Million People
Peter Schiff: Here Comes the Great, Great, Great, Great Recession!
Peter Schiff: “Whatever Obama Was Calling Recovery… is OVER!”
CNBC Actually Admits Peter Schiff Was Right… Again (Video)
Peter Schiff and Reagan Advisor: Complete Economic Collapse Immediately Ahead
Peter Schiff: Warning! Economic Storm Clouds Ready to Rain
Peter Schiff: Death of the US Dollar Is Imminent; Fed Out of Options
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