This is a great example of how careless and clueless the typical mainstream financial news anchor is. Watch toward the end of the video how Erin Burnett says that gold has no intrinsic value but that paper dollars do. She has it EXACTLY backwards! Gold DOES have intrinsic value due to it’s FINITE supply and scarcity. Paper dollars (federal reserve notes), have NO intrinsic value because they can be printed in UNLIMITED amounts. They are only backed by the faith and credit of the federal government. That is both funny and sick because our federal government is BANKRUPT!!
How can a college educated, popular, working news anchor like Ms. Burnett be so completely IGNORANT? I dont know, but it’s amazing to think that we let these people report the news to us. No wonder our society is so blind and so lost.
As for Peter Schiff, he is right on, like usual. We better start listening to guys like Ron Paul, Jim Rogers, Peter Schiff, Robert Kiyosaki, Bill Fleckenstein a lot more or this country and economy is going to be lost without hope. Keep telling us the truth gentlemen, and I will keep echoing your wisdom.
Peace,
C.J. in California
Duration : 0:7:46
November 6th, 2009 at 6:26 am
luv pete
luv pete
November 6th, 2009 at 6:26 am
Wow Ronin, just wow …
Wow Ronin, just wow..
November 6th, 2009 at 6:26 am
I love these videos …
I love these videos where the title shows a certain intent by the uploader to prove a point even though what actually occurs in the video is totally the opposite. Erin made a strong point. Gold has no inherent value in and of itself except in how its perceived.
This guy ignores that it was the mass deregulation of the free market that allowed it to run wild, which greatly contributed to this current economic meltdown.
November 6th, 2009 at 6:26 am
If you want to know …
If you want to know the future, watch one of Peter’s new videos.
November 6th, 2009 at 6:26 am
Correct, she said …
Correct, she said oil, not paper currency. While I disagree with her, she was probably trying to say something like gold sees little use in industry (which is true, but only because of the price), unlike oil. A newscaster should be able to express herself more accurately than this, but there is much worse on TV today.
November 6th, 2009 at 6:26 am
3:12 Wow, who would …
3:12 Wow, who would of thought he would of already been spot on with this prediction within the first year of Obama’s presidency.
November 6th, 2009 at 6:26 am
omfg they actually …
omfg they actually cut him off b4 he went into more detail about gold having value; they prob got instuctions from their ear phones to cut him off b4 he spilled the beans to the general public
November 6th, 2009 at 6:26 am
Once again, class …
Once again, class in in session and Schiff is the professor !! I friggn hate when these commentators act like they understand these issues…they need to shut up and let Peter speak !!!
November 6th, 2009 at 6:26 am
Erin Burnett is a …
Erin Burnett is a retard, she is where she is only because someone fell in love with her, just watch her she speaks very quickly and all her answers are always generalizations, she has no sustance, if someone comes along and drills her with questions she will be tottaly lost.
November 6th, 2009 at 6:26 am
please get out of …
please get out of your rep vs dem mind-trap you are in. republicans are just as responsible as democrats are for the mess we’re in right now. In fact, the only thing Obama has done since he’s been in office is expand upon the things Bush started. There is no rep vs dem, it is freedom vs. government.
November 6th, 2009 at 6:26 am
Peter Schiff owns …
Peter Schiff owns Erin Burnett’s (sorry no tits)
November 6th, 2009 at 6:26 am
That chick is an …
That chick is an idiot! Gold has no value.
November 6th, 2009 at 6:26 am
1:23 my oh my! gold …
1:23 my oh my! gold was just 727.9 back than! peter schiff was frighteningly right. again.
November 6th, 2009 at 6:26 am
GOLD is money ,,, …
GOLD is money ,,, since the time JESUS was born ,, whoever think is smarter than 2000 years of evolution of money is dumb monkey …
November 6th, 2009 at 6:26 am
You misunderstood. …
You misunderstood. She never said anything about paper money — she said OIL has real value (moreso than gold). Listen again and fix your video description.
November 6th, 2009 at 6:26 am
gold has no value?! …
gold has no value?!?!?!?! WAT DA IS HAPPENING?!?! IS THIS REAL!??!
November 6th, 2009 at 6:26 am
i love it…. they …
i love it…. they think schiff supports a military junta…………………….. ignorance they name is CNBC
November 6th, 2009 at 6:26 am
Democrats created …
Democrats created and staffed freddie and fannie, Not reps, this is more left-wing assinine inaccurate media bullshit.
November 6th, 2009 at 6:26 am
I hate fiat money.
…
I hate fiat money.
I used to joke to my dad that cant just the government print loads of money and be rich?
He used to tell me the government is responsible….
It was fun being a naive kid.
November 6th, 2009 at 6:26 am
you’re the clueless …
you’re the clueless one.
November 6th, 2009 at 6:26 am
And besides that, …
And besides that, silver has it’s industrial purposes.
November 6th, 2009 at 6:26 am
“I’m not saying …
“I’m not saying your wrong Peter – I’m not…I think much of what you say has…some truth to it”
CLUELESS!
November 6th, 2009 at 6:26 am
well, what I have …
well, what I have to say is .. a lots of graduates on economics and only a few people like Peter Schiff can understand if you print money without a sustaining real production, you’re just lying you have money.. the extra money is outside the usa, the world has already noticied that us dollars are inflating, it still thinks usa will do something somehow to stop it.. when the world realizes, usa cant do nothing about it.. the game is over
November 6th, 2009 at 6:26 am
its conductible ( …
its conductible (good for electronics) and malleable(good for artisans and goldsmiths). Women seem to have no problem buying it in their jewelry :p
November 6th, 2009 at 6:26 am
Do a search on …
Do a search on YouTube using “Peter Schiff.” He’s been so “spot-on” it’s scary.
One smart guy!