Peter Schiff was interviewed on The Wall Street Shuffle radio show last week. He spoke about protecting your savings by buying gold, the implications of the Cyprus bailout, gold legislation in Arizona, and an exciting new gold product designed for bartering.
“In America…we pretend we’re protecting the depositor, as we’re basically robbing them blind with quantitive easing. The Fed is printing money and that’s really just a deposit tax. Quantitative easing is just a tax on deposits, just like what was going to happen in Cyprus, except the Cyprus approach is much more honest. Ours is dishonest.”
Peter, I’ve followed you for years and believe you are correct in your predictions but early in your timing. I owned a retail lumberyard for 30 years.Went to HD fo look at prices. Since I left the business in 2006 most material prices have doubled. Roofing,Lumber from 400 mbf to 700
1/2 cdx fir plywood 15.00 to 26.49
7/16 OSB from 7..00 to 16.49
1/2″x10 ft typ m copper .50 to 1.00 and on and on. As you say, these prices don’t reflect fundamental demand but rather our eroding dollar value.