VIDEO - Peter Schiff With Jeff Macke: "Gold Is Real Money, Everything Else Is Just A Substitute"

Video - Peter Schiff with Jeff Macke - Oct. 5, 2011

"The U.S. Dollar is worse than the Euro..."

"Gold is real money, everything else is just a substitute," says Peter Schiff, CEO of Euro Pacific Capital, who works backwards to form a currency trading strategy. Essentially, Schiff isn’t much in favor of any paper currency, he’s just handicapping the best and worst of Central Banks in the world. He makes no bones about his view that the U.S. dollar is the worst faux monetary unit of all. Yes, even worse than the Euro.

“If anything we’ll be eulogizing the dollar before the euro,” Schiff says in response to my oft-stated view that the Eurozone currency will be disappearing in the next 12 months. Schiff doesn’t think so, suggesting that the Federal Reserve and the U.S’s legacy reputation as a harbor of safety are enabling America’s desire to forestall the “day of reckoning” in a way that Europe can’t.

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Comments

[robertsgt40]

It really doesn't make any difference which currency emplodes first. ALL central banks(privately held) are Rothschild dominated. It's been going on for over 300yrs. This is "branch banking's) finest hour. When either the Euro or dollar collapses the other won't be far behind.

[Harry Johnson]

Gold as money is assigned value just like paper. Its intrinsic value is that it is a good electrical conductor, is shiny and does not tarnish. This has nothing to do with its value as money. It is a fiat currency in that the value it is given by common assumption, not by its utiliy. The only things that have intrinsic value are food, water, fuel, clothing, medicine, shelter and the other things which support life. Anything else has a value assigned by common agreement. There is no "Real" money with intrinsic value. The gold bugs are promoting a delusional myth.

[Bill]

Gold and silver cannot be "printed" out of nothing and serves as a firewall and anchor against bankster and political corruption. A 6000 year record can cannot be supplanted by debased metal or fiat paper, regardless of what the MSM and spin masters say.

Sound currency and the Rule of Law based on Lockean, liberty principles! Nothing less.