Peter Schiff: We’ve Entered a New Leg of a Gold Bull Market
By Samuel Bryan
July 16, 2016
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We still have a tremendous price that needs to be paid for the mistakes of the past. Even if we correct those mistakes in the future, we still are going to have a day of reckoning. And that day of reckoning is going to evolve a much lower US dollar and a much higher gold price.”
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I think the WORST part of fiat currency is that we have lost is the objective standard of value!
“Money is a matter of functions four, a medium, a measure, a standard, a store.” He repeated that four times like poetry. “Six Characters in Money: Portable – Durable – Divisible – Uniformity – Limited Supply – Acceptability.” — CHURCH 10●19●62 (Vol 1) 978-0-557-08387-9 page 110
The paper produced by the FED ——
The Federal Reserve Bank is a misnomer. IT ain’t “federal”. It reserves nothing. And, it ain’t a “bank”. It is a private cartel of the elite banks run for their benefit and that of the entrenched politicians.
— — fails three of the four functions — a measure, a standard, a store.
So when we hear numbers kicked around they lose all sense of reality.
I’ve griped about the three silver dimes for a gallon of gas many times on this blog before. But it still states an essential truth. Silver hasn’t really changes and the gas is actually “better” gas. So what accounts for the delta (i.e., a gallon of lesser quality gas in the Sixties versus two plus gallons of today’s better gas)?
It’s the value of the money stupid.
The dollar 1960 value has been “inflated” away by the politicians and bureaucrats who put the difference in their pockets.
In the old days, it’d just be called what it is — theft.
Can’t you see it?
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