Peter Schiff cuts through all the flim-flam of Kafkaesque Keynesian propaganda in his usual superb way:
- This Unstable House of Cards is Going to Implode, Gold, Silver & More, Peter Schiff interviewed by Eric King on King World News, Wednesday, December 7, 2011
[Yes, we do have to paper over Mr Schiff's use of the term 'intrinsic value' when he talks about physical possession of gold, as for each human being alive there is only subjective value, which can change on a second-by-second basis.
(Hint: How much is your 1kg bar of gold worth on your lap on the plane, while you travel in comfortable business class from Riyadh to Paris. In the desert, after the plane crash, how much is it worth when the other big muscular man from economy has ten gallons of water? How much was gold worth to King Midas, when everything else he touched turned to gold, including food and wine? Etc.)
However, as Connecticut's finest is the SchiffMeister, we'll let him off. Plus, given a hard choice today between a thousand pounds worth of bottled spring water, a thousand pounds worth of UK government bonds, or a thousand pounds worth of gold, I'd bite your arm off for the gold every time. Just don't ask me to take it to Riyadh.]
[We also have to 'paper over' my use of the term 'paper over' earlier, when speaking about Mr Schiff. But to avoid iterating that down into an infinite recursive loop, I'll stop there.]