Only Gold Can Save The U.S Economy - Peter Schiff

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현재 미국 경제 문제 해법은 금본위제 복귀뿐이라고 주장. 정치인은 재정적자 확대를 원해 금본위제에 반대하며, 상황이 극도로 악화(인플레, 혼란)되어야만 복귀할 것이라 봄. 연준이 국채 매입(양적완화)으로 정부 부채 확대를 가능케 했고, 금리 인상 시 정부 지출 억제가 가능했다고 주장. 소비자 신용카드 잔액 약 1.1조 달러, 연체율 상승을 경고. 금 관련 발언 중심이며 특정 종목/지수 가격 예측은 없음.

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01. what level ofel massive crisis would need to happen for us to go back to gold and if we go back to Gold we we have more things to worry about than gold War it's it's no going back to gold is a good gold Center is a good thing I mean no one's saying it's not a good thing we you agree there I mean even even Allan Greenspan when he was fed chairman right UN in a congressional hearing admitted that the economy did better under a gold standard than with the Federal Reserve and his personal preference as fed chairman would be to go back to a gold standard and abolish the FED but he said but the public doesn't want that because the public wants something for nothing they want they want a free lunch see what what gold does I don't even think it's the public that doesn't want that Peter Well gold is like you know the chaperon at a at a at a prom right gold you know you know keeps the politicians honest with on a gold standard you can't run big deficits so if politicians want to provide a program they have to pay for it they have to raise taxes that they want to raise spending they don't have to do that on a Fiat standard so the politicians love Fiat money but the people should love gold if you believe in Freedom and prosperity and individual liberty and Constitution you want a restrain government with gold you want honest money but the politicians don't want that so if we just return to gold on our own that would be great but I agree the politicians will not go back on a gold standard and let until they have no alternative it's things are going to have to be so bad inflation is going to have to be so rampant right there's going to be crime there's going to be rioting loating shortages I mean things are going to get bad before they finally give in right we're going to do we're going to do all the wrong things until we run out of wrong things to do before we do the right thing and again it'll be when they're screwed either way right once they realize they're not going to get reelected no matter what they do things are so bad that they might as well do the right thing so uh so yeah we may not go back on a gold standard in America until things are really really bad that's unfortunate but going back on a gold standard is a good thing it's not a bad thing I don't think anybody's arguing that if you look back through history having money tied to physical physical value is is is a bad thing no one's going to argue good well money the the the definition of money is the most marketable commodity so money itself is supposed to be a commodity it's supposed to have its own use yeah yeah and once upon a time it was salt where we get the phrase is he worth his salt well that's where salary comes from correct because the Roman soldiers got paid in salt so we're we're so we're on the same page that once upon a time you have a physical item that's tied to money money is the physical item even if it's a dollar that Reserve no got it got it but what we're talking about is is a couple things here cataclysmic effect in the economy you're you're you're you're basically talking about almost like a nuclear winner is what it would take to get there and the other argument well why didn't the fed just keep raising interest rates and keep the government from spending wait a minute the government is not you could raise interest rates to 50% and the government's still going to try to spend it's just whether they could sell those T bills around the world to glal other governments if if if the Fed was truly independent and had not monetized debt with quantitative easing If the Fed did raise interest rates it would force the government to cut spending it would have no choice uh the reason uh the the government has been able to get away with this is because the FED has made it possible Right the FED has been complicit in the growth of of government by refusing uh to be the independent Central Bank that it should it is accommodating the government and enabling the government to take on all this debt well but the other side you went to Consumers consumers spending as well but consumers we all know they got these these um inflated dollars during the stimulus everybody a bunch of dollars were printed not really printed but you know what I mean the money Supply was expanded cuz they said okay here's here's everybody's stimulus checks and I think credit cards went down and touched uh mid 600 billion level credit cards United States but then the consumer spent that right right back up to 1.1 trillion where it is now with highest interest rates on record and fee structures that are in there and then then when they're tapped out at Christmas buy now pay later was up there they used that and then we saw 40% delinquency rates as it took them four months not six weeks to pay off now none of this none of this credit would be available in a free market it doesn't appear to be that there's a deterrent in place