Peter Schiff was wrong about the Dollar !!!!!!!!!!!!!!!

By Anonymous -

Peter Schiff was wrong about the Dollar !!!!!!!!!!!!!!!

Comments

  1. ProcopiusSeptember 3, 2009 at 11:08 AM

    Great job Max! The thing to keep in mind is that the system has been set up on the USD for 50+ years, and a great many great fortunes are gravy trains are tied to it. You, and Peter, and Jim just underestimated to what extent people would sacrifice their real or long-term interests just to maintain the status quo. Think of it this way: Chinese people are smart, scary smart, but how come in the 18~19th century they could not make the changes Japan did to adjust to the rise of Europe? Short answer: There were too many people invested too much both financially and psychologically in the old system to allow it to change without first crashing and burning it. In China's case, it took about 150 years of relative decline and about 60 million dead, all total. At rock bottom in the 1960's parents were not just selling their children for food, they were selling them AS food. I'm afraid how low America will have to fall before it can start over, plus things happen so much faster now, 150 years might be just 30 now.
    Yikes!

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