Old Project Avalon Forum (ARCHIVE) - View Single Post - PETER SCHIFF ~ US Banks Are Worthless ~ Kudlow & Co. 1/20/2009

piers2210 · 01-22-2009, 01:38 AM

Remember one fact that came out of the Ron Paul interview - the US Treasury has increased the money supply in the USA by 70% since October....that is an unbelievable statistic. The printing presses are running 24/7 as i write.

What does that mean : the massive devaluation/crash of the dollar in the not-too-distant future. At the same time, the central bankers have just met to "discuss the introduction of a new currency"...which they are not obliged to reveal anything about to the punters who pay their salaries.

So all we can assume is that we will shortly witness in the western world reduced value of the currencies we have to pay for things in. So the money in your bank is worth less. Its already happening big time in the UK. The pound is already approaching banana republic status. And as Peter Schiff says, the incompetent people that have brought about this crisis are still in the top positions, and no one is addressing the root problems still.

01-22-2009, 01:38 AM	#2
piers2210 Avalon Senior Member Join Date: Oct 2008 Posts: 403	Re: PETER SCHIFF ~ US Banks Are Worthless ~ Kudlow & Co. 1/20/2009 Remember one fact that came out of the Ron Paul interview - the US Treasury has increased the money supply in the USA by 70% since October....that is an unbelievable statistic. The printing presses are running 24/7 as i write. What does that mean : the massive devaluation/crash of the dollar in the not-too-distant future. At the same time, the central bankers have just met to "discuss the introduction of a new currency"...which they are not obliged to reveal anything about to the punters who pay their salaries. So all we can assume is that we will shortly witness in the western world reduced value of the currencies we have to pay for things in. So the money in your bank is worth less. Its already happening big time in the UK. The pound is already approaching banana republic status. And as Peter Schiff says, the incompetent people that have brought about this crisis are still in the top positions, and no one is addressing the root problems still.