Mr Schiff talks about the 'good news' on the American economy gaining jobs. He wonders how productive 50,000 census 'workers' are going to be, and where the U.S. government is going to get the money to pay for them all, and how much investment return the typical U.S. taxpayer is going to get back for this spending.
He also discusses emerging markets and the apparent 'strength' of the dollar, as opposed to the Euro, before exploring the numbers of formerly American Chinese returning to China, after a few generations in the United States.
The Duke then explains how student loans will cause education prices to rise and why Obama is following a Marxist ideology in their expansion.
Mr Schiff moves towards the finish with a discussion of how capital controls are being slipped into Obama's government bills and on how this marks a worrying trend in U.S. government preparation for the day when the dollar collapses, and on how these capital controls will leave Americans unable to get their wealth out of the busted economy.
He concludes with a note about his current trip to Shanghai.
2 comments:
Re: “... the day when the dollar collapses, ...”
If the stated value, of “Federal” Reserve notes, declines enough with respect to copper and nickel, the 1946-2009 nickels, composed of cupronickel alloy, could completely disappear from mass circulation.
According to the “United States Circulating Coinage Intrinsic Value Table” available at Coinflation.com, the April 1st metal value of these nickels is “$0.0603691” or 120.73% of face value.
Plastic coins could be fun! ;-)
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