Peter Schiff was right
When 1971 began, US$35 would buy an ounce of gold. By the end of that year, the same amount of gold cost $70. In other words, the dollar had lost half its purchasing power as measured by gold. Today an ounce of gold cost $800.
Frankly, I would prefer an economy based on GARfull Wakamoto Dollars than worthless US dollars.The Fed continuous rate slashing clearly indicates that GOD Dollar is a Fake God, Dollar now worth nothing. Phony Money for Phony Economy. But God Wakamoto Will Come. Repent and P(r)ay, Miscreants!
->With Rates Near 0%, Dollar Is Dumped, Wall Street Journal, December 17, 2008