Schiff's response to the attacks by Mish

[danberkeley]

The US Fed is the mother of all central banks, the world's central bank; it will not allow its own destruction to take place-- and neither will its partners in allied nations.
I'm pretty sure it has methods of persuasion we can only imagine.

The dollar has tanked more 95% since the inception of the Fed.

 

[silverlinkx2]

yet still manages to be the reserve currency of the world.

 

[danberkeley]

yet still manages to be the reserve currency of the world.

yes.

 

[Danke]

I suspect a lot of people here in RPF support Schiff because they have bought into the inflation/gold/precious metals story which, for now, has been clearly proven wrong.

Happy to have been so wrong.

 

[danberkeley]

Happy to have been so wrong.

Stop it. You're making them feel dumb.

 

[The_Orlonater]

Why is everyone going into the "now!" crowd?

Things take time.

 

[teacherone]

Stop it. You're making them feel dumb.

cute...

the fact of the matter is-- the hyperflation scenario is so extreme that if you really believe it you should move out of the country. There would be an utter social collapse- riots, starvation, armed bandits etc... It would mean not only the destruction of the US economy, but most likely the world's.

Your gold holdings might not get you through it in the end.

 

[Kraig]

Oh I came to this thread trying to find reasonable discussions with level-headed libertarians and I guess I fell into a Schiff fanforum for 16 year old girls. Excuse me

You're idea of level headed discussion is calling people 16 year old girls? You came here hoping you would fan your ego while you proved everyone wrong and everyone agreed with you but once the truth of you not being able to persuade your way out of a paper bag came to light you resorted to petty name calling and insults.

 

[danberkeley]

cute...

the fact of the matter is-- the hyperflation scenario is so extreme that if you really believe it you should move out of the country. There would be an utter social collapse- riots, starvation, armed bandits etc... It would mean not only the destruction of the US economy, but most likely the world's.

Your gold holdings might not get you through it in the end.

The bailout package passed Congress while 95% of America was against it. Where the riots then? I dont expect riots with hyperinflation.

 

[theoakman]

cute...

the fact of the matter is-- the hyperflation scenario is so extreme that if you really believe it you should move out of the country. There would be an utter social collapse- riots, starvation, armed bandits etc... It would mean not only the destruction of the US economy, but most likely the world's.

Your gold holdings might not get you through it in the end.

You've been watching too many movies. Plenty of countries have undergone hyperinflation in our lifetime and didn't resort to chopping each others heads off. Hyperinflation isn't the end of civilization. It's just the end of your retirement account.

 

[teacherone]

I understand how inflation works, and I understand the process by which you believe hyperinflation will take place.

I do not believe that the men behind the curtain will allow it to take place.

 

[auctionguy10]

cute...

the fact of the matter is-- the hyperflation scenario is so extreme that if you really believe it you should move out of the country. There would be an utter social collapse- riots, starvation, armed bandits etc... It would mean not only the destruction of the US economy, but most likely the world's.

.

Why would hyperinflation in the US mean that the entire world economy is destroyed? I don't think every single country is going to print in concert with the US. Obviously some will, but it won't be a worldwide catastrophe.

The US itself I think may be postioned to come out ok incase of a hyperinflationary event- we have many state governments and each could start issuing new currency if the dollar becomes worthless. The Federal government as it is now might collapse- but not the US as a whole. Of course the opposite could happen and a Federal government might come out even more powerful than ever before like in Germany- but who knows.

 

[danberkeley]

I understand how inflation works, and I understand the process by which you believe hyperinflation will take place.

I do not believe that the men behind the curtain will allow it to take place.

I dont understand why you think that Fed can actually regulate the value dollar so as to prevent hyperinflation. The Fed is always to lately or too early on it's adjustments. Why werent the English able to stop the pound from dropping when Jim Rogers said he planned to short the pound?

 

[theoakman]

I understand how inflation works, and I understand the process by which you believe hyperinflation will take place.

I do not believe that the men behind the curtain will allow it to take place.

you don't understand, it's out of their hands and in the hands of foreigners.

 

[TruthisTreason]

I do not believe that the men behind the curtain will allow it to take place.

You may be right, but then again you are putting your faith in the very people who caused the mess to begin with.

 

[raiha]

I love watching male bull fights and am in awe of the flimsiness of male egos. That goes for Mish, Schiff and many of our posters.

 

[danberkeley]

teacherone, I dare you to sell any commodities you own and buy dollars and hold them for the next 10 years..

I love watching male bull fights and am in awe of the flimsiness of male egos. That goes for Mish, Schiff and many of our posters.

You are a womanz?

 

[teacherone]

teacherone, I dare you to sell any commodities you own and buy dollars and hold them for the next 10 years..

I have 80% of my investments in commodities and live in the Euro Zone. I think I got four ones in drawer somewhere...

 

[teacherone]

Why would hyperinflation in the US mean that the entire world economy is destroyed? I don't think every single country is going to print in concert with the US. Obviously some will, but it won't be a worldwide catastrophe.

The US itself I think may be postioned to come out ok incase of a hyperinflationary event- we have many state governments and each could start issuing new currency if the dollar becomes worthless. The Federal government as it is now might collapse- but not the US as a whole. Of course the opposite could happen and a Federal government might come out even more powerful than ever before like in Germany- but who knows.

If Hyperinflation occured in the US it would, in one fell swoop, rip the US consumer out of the world's markets.

I'm not sure the world could sustain that shock.

 

[theoakman]

If Hyperinflation occured in the US it would, in one fell swoop, rip the US consumer out of the world's markets.

I'm not sure the world could sustain that shock.

That's like telling a farmer who has been starving the past 10 years that he's got a huge problem because no one is going to eat his Apples on him anymore.