"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.
C.J. in California "
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