Posted by
Schiff talking at an investment conference in Saudi Arabia in Jan 2009 Schiff has consistently hinted at the fact that should they be so minded the Saudis or the Chinese could in one fell swoop seize the balance of global power by creating their own gold backed currency. How? – i) by buying up all of the major gold miners – offering over the odds to ensure the deal goes through. Declare all of those companies’ existing and future gold reserves will be stored in their national bank vaults and used as the basis of a new gold-backed currency. This new global currency would virtually instantly supplant the dollar as the world’s currency of choice / reserve currency and – by extrapolating this scenario – the US is relegated to a second-tier nation. ii) implicit in this suggestion is that these nations could otherwise buy as much gold on the open market in order to bolster their reserves ahead of declaring a gold-backed currency. China and Saudi have in fact been doing this for the past 6 months or so… I should make it clear that I do NOT think Schiff is doing anything wrong or underhand here, he is merely saying out loud what is already being widely discussed. Oh – and Peter Schiff was right and will be right.
@yhamdon You know, you should tell that to the Muslims instead of me..lol..I have spoken with a lot of Muslim people on here and they say they could never be my friend nor would they want to be because I am a Christian. As a Christian I try to love everyone…I don’t have to love their ways, but I do love them as a person, including you.
@not2seri0us 3. My point is we as brothers and sisters in humanity should steer away from separation, whether caused by unfounded pride or a lack of ‘true and unbiased’ historical accounts not swayed by the ego in each and every one of us.
@not2seri0us 2. During this era for Muslims: They discovered the new world 700 years before Columbus (Look up Phoneticians). Later it was the Muslim Moors (now Spain) that taught and funded Columbus’s expedition to the new world (At the end of the Moorish era). Galileo was a fluent Arabic speaker (as it was customary for European scientists of the time) to read the translated Muslim scientific literature, hence Galileo’s ‘conception’ of his theory of planetary alignment.
@not2seri0us Most people will never know. There was a time when the European cultures as a whole were living in ignorance, against the basic ethics of Christianity. And during the same era and before, Muslims acted in accordance with the ethics of Islam.
Why is America not a honest banking system? Peace!
how? if you think the saudies are against America then yes, but you wrong.. saudies love america
His advice would work wonders. Of course the countries would disallow the purchase on grounds of national security, but it would still drive gold to $2500 within weeks.
Hahaha, like if ANYONE in the US wants to hear it!
– ALL — ISLAM ,, Haters ,, from USA … why are you blaming ISLAM , Your goverment has been funding and helping terroists from AFganistan to Bosnia and Kosovo ..
Now you hate Saudi Arabia ,
Peter is saying the right thing , but he forgot , That USA on the other hand may support Iraq and Iran , and other Saudi haters in middle east ,to desteoy Saudi Arabia , and Saudi Arabia would FALL…
Saudi Arabia knows USA is their security ..
At least Islamic banking is honest banking.
Quisling
He has been preaching this advice relentlessly here in America, only to be ridiculed by the MSM. The MSM is controlled by the corrupt group that has hijacked leadership positions in American government and has been destroying the American Industry, Financial System, and Dollar for decades.
Standing up against that is not Anti-American, but rather the duty of Americans who love their country. Thank God the number of Americans doing so is growing.
Understanding his logic will save America.
I am an American and I betray the USA whenever I get a chance to. The USA is full of crooks and corruption. I’ll make it a point to go and buy some more gold next week due to your opinion.
The US betrayed us are fucking kidding me?
Peter Schiff is doing us all a favor. And the quicker our economy craps out the better we can reclaim our country from the crooks in washington.
Even though I like Peter Schiff, I somehow feel he is betraying the US giving this advices to the Saudis
Islam is such an evil religion and I can’t understand for the life of me why people don’t see it. Islam is the fastest growing religion in the world right now and I believe it will play a role in the bible end times. God Bless!
I agree with you ewffaces…I would rather have my money cut off by the bank then my head cut off because I won’t convert to Islam!
lulem400,
and islam wouldn’t? I would rather have my money cut off then my head. think about that…..
with islam in control you have power, with the world bank in control they shut off your rfid chip whenever, why ever, and obviously you aren’t an american citizen because the RFID and world bank would abolish every constitutional right and you think your “pennies” that you have in gold and silver is going to mean diddly to someone who can shut you off and take it whenever they want for no reason at all other than they have control of you? think about it smart guy
Yeah! to the wrong people! FO&(*7 him!!!
He would tell our politicians the same thing but they won’t listen; they want to destroy our economy in order to centralize their power more and start introducing their “solution”: RFID chips.
yes, the Hunt Brothers did try, but they weren’t using their own money. they were using borrowed money.
chief difference here is that because we’ve paid the Saudi’s so much of our good gasoline/oil money over the past few years, they have the money, and it won’t fail.
it can work. and it is working.
I think that Peter is just trying very hard to do something UNUSUAL in today’s economic investment adviser circle…
he’s trying to TELL THE WHOLE TRUTH!
he’s pimping gold and mining companies.
Didn’t the Hunt Brothers try that unsuccessfully with silver in the late ’70’s?