Peter Morici : " I did not say we should return to the Gold Standard
" "The Chinese are as much a captive of their currency system as say the Germans and German banks are right now of the euro," says economist Peter Morici, a business professor at the University of Maryland. "They've created a wonderful export contraption of which we are both hostage."
Related ETFs : Ishares Silver ETF (SLV), SPDR GOld ETF (GLD) SPDR GOld ETF (GLD), Powershares DB SPDR Gold ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), GoldCorp (GG)
Friday, June 3, 2011
Wall street and the IMF are looting Greece
Bob Chapman - GREEN T HOUR - 02-06-2011
Bob Chapman : they are totally destroying Greece with the austerity programs , they have cut the salaries which will mean less consumption , Wall street and the IMF are looting Greece , but there could be a coup...Greece is on the edge of revolution...., there will be a revolution in Spain , with a 40 percent unemployment amongst the youngest these are the people who fight wars
Why gold is money by Peter Boehringer
Peter Boehringer of DEG interviewed by James Turk of GoldMoney Foundation about the gold 's value and the physical reasons why it has been chosen, out of all physical elements, as money through the ages.Peter Boehringer : I am the first one to admit and I am a gold bug that there is not and will never be an objective value of an ounce of gold or silver , silver is a little bit different because it has good industrial use too , as to gold there is no objective value to it , psychology to some extent it is even metaphoric to some extent it has been around for so long that people some how transcend to some extent , people just believe in it , but there is a root cause to that the reason I think and I am a rational analyst here is physical strictly physical , if you look the periodic table of elements there are 160 elements so if e would pick one element to use as currency we will end up with practically only the precious metals gold silver platinum palladium and to some extent Rhodium , cause some of the elements in the table are liquid so we discard them some are gases some are just not scarce some of them may be too rare that you could not probably coin a thousand coins worldwide so that's not feasible too , some of them are toxic some of them are even radioactive so it is not something feasible , so you can go on and on and scratch all the elements from the periodic table you will end up with the precious metals ...so for all those reasons and othrs gold and silver have become the national money
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