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  • MINCE38 MINCE38 Nov 25, 2008 2:48 AM Flag

    Peter Schiff Sees More Pain Ahead

    saw the you tube video and even have his book. I think we will not collapse because our military might does something to prop up the dollar and our economy we little guys cant understand. china is not stupid. they wouldnt keep lending to us if default was remotely possible. so why do they continue? Because..........if we go under, the whole worlds game of musical chairs comes to a hault and all economies fail! Maybe china doesnt even expect to get paid back but 1/4 of the long as we keep importing! Hasnt anyone ever figured out why china keeps lending to us? yet, gold "could" go to $1500 and then another bubble bursts. Who knows. Ayway, whats with the retailers going up like 10% today? You mean everything is fixed in 2 days? WTF!

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    • Im my opinion we are all witnessing a another form of warfare of the economic kind. That was how we beat the Soviet Union in the 80's. USA is doing the same thing again against China and the Middle East. Pumping up commodities and growth markets while at the same time lending all the money they can to ANYBODY breathing knowing they will default on the loans. Then they sell those securities to China and other countries and insure them (Credit default swaps). Then the USA causes a massive deflationary spiral driving all commodities down (Illegal Comex Manipulation) Look it up. Among many other clever tactics the USA is using. What results is like you said, the USA is king and can outlast any other country in very hard times. Now the US is reinflating the monetary system as fast as they can, printing money 24/7. Stopping sales of GOLD.

      The middle east caught wind of what is happening and Iran just backed their currency by gold. Saudi Arabia is trying to buy as much gold as they can get now, China also, but they cant cause the price will go through the roof so they have to do it slowly. Russia is hammered cause oil is at 50 and going lower :-)

      Ultimately what you get is rising unrest in China. No jobs! and Barack Obama comes in and reignites manufacturing and energy independence. A protectionist approach. He has already signed onto the plan. He is not a liberal anymore, they sat him down and told him what the deal is and he will obey. The prez is just a puppet.

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