Peter Schiff : The Gold Standard forced the government to responsibly confront irresponsible fiscal policy

Peter Schiff : "The gold standard forced the government to responsibly confront irresponsible fiscal policy. At first Nixon tried devaluation, but the amounts were far too small to stop the gold drain. As an escape hatch, he instead abandoned the gold standard (although he said that the move was temporary). Without this “relic”, government could continue to finance its spending with ever larger deficits without losing any more gold. So instead of devaluation or deflation, we chose inflation instead. Many consider the impossibility of running perpetual deficits under the gold standard as proof of its unsuitability to the modern economy. As I see it, this is precisely why the gold standard is so desirable and so badly needed today."

Rare coin sells for $410,000

AN EXTREMELY rare, 1813 Australian coin with a hole in it has sold for a record $410,000 at a Melbourne auction. A private collector bought the Hannibal Head Holey Dollar, which was shaped in New South Wales from a silver dollar minted in Peru in 1810. The coin was the only privately owned version; the only other is housed in the State Library of New South Wales. Its highest previous recorded auction price was $270,950 in 2008. The coin's shape came about when Governor Lachlan Macquarie, amid an acute colonial coin shortage, acquired 40,000 Spanish silver dollars. He enlisted the convicted forger William Henshall to cut a hole in the centre of each and stamp the doughnut with ''New South Wales'', the value five shillings and the date 1813. Read more>>>>

Silver hits 16-week high on stimulus hopes

It’s not too late to buy silver, but this train is leaving the station... So you better get moving very soon if you want a piece of the surge that’s coming in silver. Gold surged to a 16-week high of $1,667 and silver passed $30 an ounce as speculation mounted about a new stimulus package from the Federal Reserve and the prospect of similar actions by all the global central banks this autumn what is going on the euro, many countries are giving the gold. silver is an extreme and interesting metal. precious metal. remarkable industrial metal. The ECB lends cash to banks to buy European Sovereign Debt at a 1% interest rate. This is not as direct or pronounced as what the FED or the BOE do, but it is essentially the same thing. if enough people buy up the physical it will shift the power to the people instead of the banks. silver shorts show the real value of your fiat currency. if it wasn't for everyone buying mf global wouldn't have been shorted, don't stop there bring it to jpmorgan too!

MAKE SURE YOU GET PHYSICAL SILVER IN YOUR OWN POSSESSION. Don't Buy SLV, or Futures or Pooled Accounts or any other BS paper silver product .Remember anything on paper is worth the paper it is written on. Go Long Stay long the bull market have even started yet