Bryan
06-09-2009, 04:34 PM
FORT LEE, N.J., June 09 /PRNewswire-USNewswire/ -- The National Inflation Association today released the following statement to its http://inflation.us members:
"The National Inflation Association is not a political organization, but it is our belief that we must support Peter Schiff and encourage him to run for Senate in the State of Connecticut.
The U.S. is on a path towards hyperinflation that will wipe out the wealth of all Americans who don't prepare now. The Obama administration along with Congress have adopted a policy of endless bailouts and stimulus plans that won't ever produce an economic recovery, but will instead lead to a currency crisis and a worthless U.S. Dollar.
Today in Congress, Ron Paul is the only man who supports a true free market economy and a sound currency that is backed by gold. We need Peter Schiff to join Ron Paul in Washington and help spread the message that we can't solve an economic crisis that was created by too much government spending and debt; by spending more, increasing the size of government and expanding the national debt.
Peter Schiff understands that if our government does not reverse course immediately and drastically cut government spending, eliminate Wall Street bailouts, and let the free market work for itself; hyperinflation will be unavoidable and the U.S. will become the next Zimbabwe.
Peter Schiff is our only hope to achieve real change in Washington. President Obama campaigned for change, but instead took Bush's mistakes and multiplied them. Bush passed a wasteful $200 billion stimulus plan, so Obama wasted $800 billion on his own stimulus plan. Bush had a budget deficit of nearly $500 billion, now Obama's budget deficit this year will likely surpass $2 trillion.
Both the Democrats and Republicans are responsible for getting us to a point where it is impossible to pay back our $11.4 trillion national debt. Sure, the U.S. has a GDP of $14 trillion, but more than 70% of it is consumer spending. Our largest exports, besides U.S. Treasuries, are scrap metal and paper we send back to China so that they can produce more junk for us to consume with the money they lend us.
Up until today, the U.S. Treasury has been able to pay back its old debt plus interest by issuing larger amounts of new debt to an increasing supply of foreign lenders. Peter Schiff equates this to a ponnzi scheme and believes the U.S. will either default on its debt or monetize it by having the Federal Reserve print trillions of dollars out of thin air, which will destroy the savings of hundreds of millions of Americans.
We must allow the current recession to run its course and rebuild a real economy from the ground floor. In order for the U.S. to once again prosper, Americans need to save their money and produce real things to export to the rest of the world. However, we can't achieve this until we have a sound currency that is backed by gold; and we will never have a sound currency without people like Peter Schiff in Washington."
Please spread the word about NIA and have your friends subscribe for free at http://inflation.us
About us:
The National Inflation Association is an organization that is dedicated to preparing Americans for hyperinflation. The NIA offers free membership at http://www.inflation.us and provides its members with articles about the economy and inflation, news stories, important charts not shown by the mainstream media; YouTube videos featuring Jim Rogers, Marc Faber, Ron Paul, Peter Schiff, and others; and profiles of gold, silver, and agriculture companies that we believe could prosper in an inflationary environment.
Website: http://www.Inflation.us
http://sev.prnewswire.com/banking-financial-services/20090609/DC3024209062009-1.html
"The National Inflation Association is not a political organization, but it is our belief that we must support Peter Schiff and encourage him to run for Senate in the State of Connecticut.
The U.S. is on a path towards hyperinflation that will wipe out the wealth of all Americans who don't prepare now. The Obama administration along with Congress have adopted a policy of endless bailouts and stimulus plans that won't ever produce an economic recovery, but will instead lead to a currency crisis and a worthless U.S. Dollar.
Today in Congress, Ron Paul is the only man who supports a true free market economy and a sound currency that is backed by gold. We need Peter Schiff to join Ron Paul in Washington and help spread the message that we can't solve an economic crisis that was created by too much government spending and debt; by spending more, increasing the size of government and expanding the national debt.
Peter Schiff understands that if our government does not reverse course immediately and drastically cut government spending, eliminate Wall Street bailouts, and let the free market work for itself; hyperinflation will be unavoidable and the U.S. will become the next Zimbabwe.
Peter Schiff is our only hope to achieve real change in Washington. President Obama campaigned for change, but instead took Bush's mistakes and multiplied them. Bush passed a wasteful $200 billion stimulus plan, so Obama wasted $800 billion on his own stimulus plan. Bush had a budget deficit of nearly $500 billion, now Obama's budget deficit this year will likely surpass $2 trillion.
Both the Democrats and Republicans are responsible for getting us to a point where it is impossible to pay back our $11.4 trillion national debt. Sure, the U.S. has a GDP of $14 trillion, but more than 70% of it is consumer spending. Our largest exports, besides U.S. Treasuries, are scrap metal and paper we send back to China so that they can produce more junk for us to consume with the money they lend us.
Up until today, the U.S. Treasury has been able to pay back its old debt plus interest by issuing larger amounts of new debt to an increasing supply of foreign lenders. Peter Schiff equates this to a ponnzi scheme and believes the U.S. will either default on its debt or monetize it by having the Federal Reserve print trillions of dollars out of thin air, which will destroy the savings of hundreds of millions of Americans.
We must allow the current recession to run its course and rebuild a real economy from the ground floor. In order for the U.S. to once again prosper, Americans need to save their money and produce real things to export to the rest of the world. However, we can't achieve this until we have a sound currency that is backed by gold; and we will never have a sound currency without people like Peter Schiff in Washington."
Please spread the word about NIA and have your friends subscribe for free at http://inflation.us
About us:
The National Inflation Association is an organization that is dedicated to preparing Americans for hyperinflation. The NIA offers free membership at http://www.inflation.us and provides its members with articles about the economy and inflation, news stories, important charts not shown by the mainstream media; YouTube videos featuring Jim Rogers, Marc Faber, Ron Paul, Peter Schiff, and others; and profiles of gold, silver, and agriculture companies that we believe could prosper in an inflationary environment.
Website: http://www.Inflation.us
http://sev.prnewswire.com/banking-financial-services/20090609/DC3024209062009-1.html