Peter Schiff: America officially a banana republic

Examiner ^ | March 21, 2009 | Craig Meister

[GoldStandard]

Peter Schiff, who has correctly predicted much of the present financial calamity that is destroying the wealth of millions of Americans, now says that with the Federal Reserve's decision to print money by the truckload, "America has now become a banana republic."

[4rcane]

Cramer: In Bernake We Trust

[Leisler]

Gold or paper, money is too important to be in the hands of government, or GSE like the Federal Reserve Corporation and it’s other private partners.

[Texas Fossil]

"America has now become a banana republic."

And Yes, we have no bananas today.

We are now a Banana Republic and cannot even grow bananas

[4rcane]

thats a nice picture, i just saved it for future use :)

[arderkrag]

Peter Schiff, who has correctly predicted much of the present financial calamity that is destroying the wealth of millions of Americans, now says that with the Federal Reserve's decision to print money by the truckload, "America has now become a banana republic."

I'm going to start making some doom and gloom predictions, too, so people can think I'm an all-knowing financial guru.

[4rcane]

“I’m going to start making some doom and gloom predictions, too, so people can think I’m an all-knowing financial guru.”

He’s more than just a stop-clock. Theres two types of doomsayers. Those who just make wild predictions with no specifics of doom, and theres another who nailed in spot on with specifics and time frame

[arderkrag]

Whoopee. In my opinion, people who run around predicting doom and gloom are partly to blame when it happens.

[Leisler]

Is there something about regimes in decline that produces a sort of metrosexual male that seem to be abundant at the time?

Below Another never married(almost) vegan, non smoking, hypochondriac, shown here with gay limp wrist, speaking voice known to be 'hysterical'.

[Bernard]

Banana ——> Monkey ——> racist comment. The author should have talked about things related to clowns, like big shoes, red noses, etc. Now that he has quit smoking, can Barack Obama inflate ballons and twist them into animal shapes?

[Uncle Ike]

” people who run around predicting doom and gloom are partly to blame when it happens. “

The forgotten lesson of “The Boy Who Cried Wolf” is that there actually *was* a wolf....

[DB]

You can’t print trillions of dollars without greatly debasing your currency.

Everyone who has saved and is holding dollars is going to lose a good chunk of their savings.

Prices for everything are going to start to rise as our currency’s value fades away.

Loan interest rates are going to increase dramatically as no one will want to make loans today that will be paid back with devalued dollars later.

Choices have consequences.

If you think it is bad now, wait 8 months...

[4rcane]

“Whoopee. In my opinion, people who run around predicting doom and gloom are partly to blame when it happens.”

I don’t think you understand the nature of the problem. The problem of the economy is not sentiment or lack of confidence. When somoene jumps off the building, its not due to lack of confidence, that result in his downfall.

[arderkrag]

THE SKY IS FALLING THE SKY IS FALLING!!!!

Good grief, if you people think things are really that bad why even get up in the morning?

[Nathan Zachary]

"Whoopee. In my opinion, people who run around predicting doom and gloom are partly to blame when it happens."

"It" is not going to happen because of "people running around predicting doom and gloom", hyper inflation happens because of governments printing money we don't have.

[arderkrag]

The problem of the economy is not sentiment or lack of confidence

A large part of it is exactly that. When people stop acting like the end is nigh, then things will turn around, and not until then.

[arderkrag]

I’m speaking in larger regards to the constant barrage of economic doom and gloom forecasts, not just hyperinflation.

[AlexW]

“If you think it is bad now, wait 8 months...”

That is my great fear.
I am living in the Philippines strictly on my SS funds.
I now get 48+ pesos per dollar, which is enough.
If the dollar crashes really big time, I might have to join the fishermen.

[Nathan Zachary]

"Good grief, if you people think things are really that bad why even get up in the morning? "

Just wait till you get up tomorrow morning, and see our dollar start slipping even faster when the markets open.

I guess some people are just oblivious to the problems these imbeciles running this country are causing.

Maybe you will wake up to them when you start wondering why everything is suddenly costing so much, and you just don't seem to be able to get by on what you make anymore.

When that day comes, know that it will get much worse.

[Leisler]

"Everyone who has saved and is holding dollars is going to lose a good chunk of their savings."

What about people like me, who are very dependent upon using and paying the above savers? I'll/we/others will either have to pay uneconomical rates, or not have access to the money at all.

The elite nitwits are just transferring bankruptcy and debts from favored players to the public at large. Citibank goes bankrupts, big tragedy, vs. a million personal bankruptcy which is just free market forces playing out. Heads we lose, tails your/our children lose.

Yeah. This has my support. /snark.