Peter Schiff on the Bail Out

> the same goes for his view of foreign
> stocks. Maybe foreign economies are just
> as paper-based as ours!

If a foreign economy actually produces "stuff", not just financial wizardry, but products - they have wealth.

You need to recognize what wealth actually is.

Real wealth isn't having lots of paper certificates called money. Wealth is first being independent, and next having people (or nations) dependent on you.

This was recorded on Tuesday October 7.

must have been recent, seeing as his new book was just released.

the same goes for his view of foreign stocks. Maybe foreign economies are just as paper-based as ours!

When was this recorded?

Well you be careful my friend a lot of this is uncharted territory now. And there is much lying going on in Washington right now it can't be believed.
There are opportunities here but the opportunities will be manipulated short term until very big money guys can be in positions they want to be in. Gold? Well see how easy and what premium there is to physically hold an oz of US gold eagles or CA Maple leaf and how to get hold of it? Think you will be surprised. 90% pre 64 silver coins? LOL

I can tell you with modest certainty that whatever gold which was at Ft Knox was transferred to the federal reserve vault in NYC as collateral for new loans to the government. This gold was then lent out at cheap rates to suppress the price.

Regardless if the gold is in NYC, the government obviously won't be paying back their loans so the FRS owns it, like they own everything else.

yes they absolutely are manipulating the price of gold. They're also shorting oil and commodities to try to keep them down as well. But they can't do this forever and eventually the free market will win over. you're going to see gold go violently higher once they stop trying to push it down.

John
Gold is a strange animal. Fed does manipulate somewhat, the interesting thing there is that no one will audit the gold reserves of the US even tho it is called for by law. Rn Paul has called for an audit and they won't do it. Is it in Ft Knox? Who knows they say it is but then they say we are not in even a recession so I don't believe them a lot. Gold and silver has value now only as a way to hold money. Try to buy physical 90% per 64 coin or Maple leaf gold and see how available it is?

I have a question for Peter Schiff: Is the Federal Reserve manipulating the price of gold? Ron Paul thinks so. Shouldn't gold be much higher right now? Let's face it, the Fed wants us to THINK that their dollar is AS GOOD as gold. Why invest in it, if the real price is being suppressed? That's a huge flaw in Peter's strategy thinking gold is the way to go. On CNN when asked why gold was so low, Peter said: "Who cares, buy it now!" Maybe he shouldn't be so flippant. Can anyone address that?