The Mises Institute has released the second part of an exclusive interview between its President Jeff Deist and Patrick Barron, a private banking industry consultant. Find the first part of this engrossing interview here. In this second half, Deist and Barron discuss:
- How US dollar supremacy might come to an end with a whimper, instead of a bang.
- How the Bundesbank is a potential savior for the world monetary order, while the IMF is a paper tiger.
- How elites will have an increasingly hard time denying gold its role in the global monetary system.
- How America’s fiat dollar corrupts cultures, as well as economies.
On Friday, Peter Schiff reviewed the Halloween stock rally as an effect of the end of the Federal Reserve’s quantitative easing program. He focused on comparing the irrational euphoria of Wall Street to the dismal performance of gold stocks. Gold investors need to remain patient, because eventually the markets will realize that the United States is headed to another recession.
Last week, gold and silver analyst Dan Popescu interviewed Egon von Greyerz, Founder and Managing Partner of Matterhorn Asset Management. They spoke at length about the upcoming Swiss Gold Referendum, which we’ve previously reported on here and here. Von Greyerz provides great insight into the Swiss mindset and the importance of gold for central banks around the world. At the end of the interview, he even weighed in on the massive flow of physical gold from the West to China.
This post was submitted by Erik Oswald, SchiffGold Precious Metals Specialist. Any views expressed are his own and do not necessarily reflect the views of Peter Schiff or SchiffGold.
The New York Times reported a major story this week about Ms. Carol Hinders, who had her checking account seized by the IRS. Why? Because she had the audacity to deposit cash in increments below $10,000. While this is an outrage in and of itself, it is merely a symptom of a larger problem: Civil Asset Forfeiture.
In the latest episode of his podcast, Peter Schiff gives his take on the end of quantitative easing. Peter reviews CNBC’s reaction to the news and Alan Greenspan’s opinion of QE. He also shares his own predictions for the future of the American economy and the price of gold.
Jim Rickards, author of The Death of Money, spoke with Erin Ade on RT’s Boom Bust this week. He explained why central banks around the world are incapable of preventing the inevitable fallout of the current international currency wars. Rickards isn’t sure what will trigger the next big crisis – a debt crisis in the United States, a panic in China, or the coming Swiss Gold Referendum at the end of the November.
Peter Schiff appeared on CNBC’s Futures Now this afternoon to defend his record on gold. Things got heated, because it seems the stock traders can’t wrap their heads around the strategy of holding physical gold and silver bullion as a long-term hedge against inflation in a well-diversified portfolio. Instead, they’re intent on blasting Peter for not being able to exactly predict when the precious metal will reach new highs.
Of course, Peter is basing his predictions on a fundamental analysis of the American economy and not on short-term technical indicators. Investors who buy gold for a quick profit don’t understand the reason for holding gold in the first place. At the end, Peter tries to point out that history is going to repeat itself – just as the traders missed the 2007 financial crisis, they’re going to be blindsided by the next crash. Enjoy a full transcript of Peter’s responses below the video.
In his latest podcast, Peter Schiff takes a look at the most recent earnings reports from Wall Street. Why are McDonald’s, Coca-Cola, and Amazon’s earnings so far off from expectations? If the economy is getting better, surely these companies – companies that are dependent on the prosperity of everyday Americans – would also be experiencing decent profits. Right? Think again. Peter Schiff explains what corporate America can tell us about the real condition of the United States economy.
Jeff Deist, President of the Mises Institute, interviewed Patrick Barron, a private consultant to the banking industry. In this not-to-be-missed conversation, Barron explains exactly how the United States dollar became the world’s “reserve currency,” allowing America to become a “monetary imperialist.” According to Austrian economist Hans Hoppe, a monetary imperialist is a dominant country that uses its power to enforce a policy of internationally coordinated inflation. However, the countries and corporations of the world are getting sick of US imperialism, and Barron is certain that the wheels are already in motion to abandon the US dollar.
This is part one of a two-part interview that covers the following topics:
- How does the world use the dollar as a weapon of economic and cultural power?
- How did the Bretton Woods agreement set the stage for the US dollar to dominate the world economy, and how long can it all last?
- What might the unprecedented collapse of the worldwide reserve currency look like?
- How do the BRIC nations and Asian central banks fight back?
Enjoy a partial transcript of the interview’s highlights below the video.
Independent financial journalist Lars Schall interviewed Keith Barron, an exploration geologist and mining entrepreneur with 30 years experience in the industry. Barron believes we’ve seen “peak gold,” which is the point when overall world gold production begins to decline.
Barron emphasizes what a hard time it is for mining companies, but also stresses how dependent the gold price is on paper gold investments. He reasons that this will change, and physical gold will return to power in the coming years when the world realizes that there is more physical gold promised to ETF investors than actually exists. What to do? Buy physical gold and silver now, before it shoots up to $5000 or higher. Enjoy the interview, with a partial transcription below.
