Peter Schiff: History Will Remember These Times As A Great Depression (VIDEO)

In the second video, to prove Peter’s point, I review the GDP numbers for the U.S. economy so far for 2016. To say they are awful would be to give Obama and his “recovery” a compliment. Obama is the first president in history to not even hit 3% GDP ONCE during his entire presidency. Hmmm. Do you think that might be because redistribution of wealth doesn’t work? Naaahhh.

Anyway, the 2016 economy originally kicked off the year first quarter of the year at a whopping 1.1% GDP. Despite the fact that nothing (other than perhaps Obama’s pet unicorn), suggested there were any signs of a better second quarter, Team Hope and Change gave estimates for second quarter growth between 2.2% and 3.4% depending on who you talked to. Here in reality, where the rest of us reside, Obama’s recovery didn’t even make it to half of the “so called” projected figures..

The second quarter GDP initially came in at only 1.2%. Making matters even worse, the pathetic 1.1% growth Obama thought he had during the first quarter was revised downward to a mere .8%, and the revised numbers from fourth quarter of 2015 were also revised DOWN from what they thought was 1.4% down to a whopping .9% GDP. Keep in mind the numbers we’re talking about (the ones slightly above ZERO), are all coming from the Sociopath in Chief, so take them with a grain of salt. Obamacare was going to be affordable too, remember? in all likelihood, once some honest accounting is done after Obama is gone, we’re almost certainly going to learn that all the numbers were grossly inflated. After all, we have 100 MILLION people unemployed. Give me a break.

In the second video, I also talk about a few other reasons to hold onto gold and silver if you own them. It just so happens, what I’m going to share isn’t exactly the type of thing you’d expect the CEO and chief global strategist of Euro Pacific Capital Inc. to say in a television interview, if you catch my drift.

Finally, for further confirmation to hold onto your precious metals, the following article by Joel Bauman from SchiffGold Precious Metals, and the accompanying podcast with Peter Schiff, should help dispel any rogue reports that anyone should be worried about their gold or silver. The views expressed by Joel are his own and do not necessarily reflect the views of Peter Schiff or SchiffGold. Joel writes: 

It seems at least once a week, a Fed official is coming out of the woodwork to suggest the “possibility” of a September rate hike. Right now, investors are nearly split over whether or not that is likely to happen. What’s really prompting this more aggressive posture by the Fed? In his latest podcast, Peter Schiff looks at the real motives behind the faux-hawkish statements from the Federal Reserve.

Basically, it comes down to a bait-and-switch move by the Fed to create some wiggle room for actually doing nothing. Here’s an analogy: a fish monger tells his customers, “It’s possible I will raise the price of fish.” Since he’s created the idea that a price increase is possible, he can now tell my customers, “I’ve decided NOT to raise prices.” The fish seller wants his customers to appreciate how “inexpensive” the current price is. They will now feel as if they’ve gotten something (“inexpensive” fish) when in reality nothing has changed.

HIGHLIGHTS FROM THE PODCAST:

“The price of gold continues to retreat. Gold was down about $12 today; it closed around $1310. The dollar index was up again as more and more people begin to contemplate the possibility of a rate hike in either September or December. Or maybe even both, because the odds of a rate hike, either in September or December have now increased to about even money.”

“If you go back to June, the odds were practically zero. What has changed in the last couple of months? The only thing that has really happened is that you’ve had various Fed officials going out of their way to mention that a rate hike is still possible. Why would they do that?”

“Obviously, a rate hike is possible. Usually, they are asked the question and they mention the possibility. If the Fed had no intention of raising interest rates, I doubt they would admit it at this juncture. They want people to believe that a rate hike is possible because if you admit that it’s not possible, that opens a can of worms that the Fed isn’t interested in opening just yet.”

“Even if we do get a rate hike in September, I bet the odds would drop sharply for another one in December. We would have one rate hike in 2016. We had one in 2015. The Fed is on a pace of one hike per year, although I doubt they will be able to maintain that pace in 2017 because they’re going to be cutting rates by then for sure. The election will be over, and there will no longer be a need to pretend that there is still a recovery going on.”

“The Fed wants to maintain the possibility of a rate hike so they can take away that possibility as their first real easing. That’s like a rate cut. So if they change their forward guidance from ‘a rate hike is possible’ to ‘a rate hike is probably not going to happen,’ then they can say a rate cut is possible to actually cutting rates. Since they have so little wiggle room to actually cut rates, they want to have a lot of room to alter their forward guidance.”

“By maintaining this possibility of a rate hike, they still have some dry powder in reducing the probably of that possibility or taking the possibility off the table. I still think they’re trying to reserve that after the election.”

As I promised in my video above, the following video is from the Next News Network, and at about the 2:00 minute mark, Gary Franchi discusses a newly developed method that allows for people who own gold to actually carry around small denominations to barter with, because obviously carrying around one ounce coins or gold bars just isn’t practical with their super high value. The new technology involves embedding small amounts of gold worth manageable amounts to trade with, directly into credit cards that can be carried in a person’s wallet.

Perhaps not so ironic is the fact that the first two minutes of the video deals with a recent move made by George Soros, one of the wealthiest men on the planet, when he sold off 37% of his equity portfolio to buy gold. For those who don’t know, gold trades inversely to the Dollar, so the only reason someone would do that, is if they were banking on the Dollar collapsing. Incidentally, did I mention George Soros became one of the richest men on earth by trading currency, so he knows a thing or two about what he’s doing. In currency markets he has two nicknames:

1. The man who broke the bank of England; and

2. The Currency Killer

Just sayin. You can decide for yourself if you think Soros’ decision to liquidate 37% of his equity portfolio, and then buy gold is of any consequence when considered with everything else you’ve learned. With so many factors here in the U.S. contributing to what could be a total societal collapse, whether it’s from the 2016 election, a terror threat, rising racial tensions, the threat of World War III, Martial Law, or of course the collapse of the U.S. Dollar, if you’re looking for what you can do to protect yourself, you can get a FREE GUIDE for how to survive Martial Law here.

I also suggest you consider one of the best books available for helping ordinary people of average means to make sure their families are taking the BEST steps possible to protect one another, and that book is titled, “Conquering the Collapse.” Since I have it, and rely on it personally, you can read my personal review of it here: Be Ready For Any Emergency – The Crucial Guide For Any Family’s Safety. For now you can check out the video from the Next News Network.

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THE VOICE OF REASON is the pen name of Michael DePinto, a graduate of Capital University Law School, and an attorney in Florida. Having worked in the World Trade Center, along with other family and friends, Michael was baptized by fire into the world of politics on September 11, 2001. Michael’s political journey began with tuning in religiously to whatever the talking heads on television had to say, then Michael became a “Tea-Bagging” activist as his liberal friends on the Left would say, volunteering within the Jacksonville local Tea Party, and most recently Michael was sworn in as an attorney. Today, Michael is a major contributor to www.BeforeItsNews.com, he owns and operates www.thelastgreatstand.com, where Michael provides what is often very ‘colorful’ political commentary, ripe with sarcasm, no doubt the result of Michael’s frustration as he feels we are witnessing the end of the American Empire. The topics Michael most often weighs in on are: Martial Law, FEMA Camps, Jade Helm, Economic Issues, Government Corruption, and Government Conspiracy.