A Quote by Peter Schiff
The fiat-based system has produced enormous global imbalances that are straining the global economy. Ultimately, I think the whole thing gives way and what returns is what existed prior to the dollar standard, and that is a global gold standard, which is the only thing that really works.
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There is only one standard - a global standard. Be consistent, operate at 100% every single time you're given an opportunity.
Global cooperation - dealing with other countries, getting along with other countries - is good. It's very important. But there is no such thing as a global anthem, a global currency, or a global flag.
Unlike national markets, which tend to be supported by domestic regulatory and political institutions, global markets are only 'weakly embedded'. There is no global lender of last resort, no global safety net, and of course, no global democracy. In other words, global markets suffer from weak governance, and are therefore prone to instability, inefficiency, and weak popular legitimacy.
Today, local economies are being destroyed by the 'pluralistic,' displaced, global economy, which has no respect for what works in a locality. The global economy is built on the principle that one place can be exploited, even destroyed, for the sake of another place.
There'll be a growing disparity between economics and politics. An economy that grows so rapidly is intractably global. On the other hand, the current political system is intractably national. So there is a growing dichotomy between a global economy and locally based politics.
The Cinquecento was an engine of motivation at Fiat. It refurbished the image of the entire company. It's a symbol for the company, but it's more than that. It's a global Italian symbol, as Mini is a global British symbol and the Beetle is a global German symbol.
Our view is that economic isolationism is the wrong way to go. Vibrant, successful growing economies that advance the interests of their citizens engage the global economy. And, we're committed to engaging the global economy.
The idea is to have global standards. There is so much travel that if you just had a regional standard, it would probably ultimately have to be changed.
If we start thinking simply nationally, and we start having policies that try and restrict the benefits only within our borders, and try and implement protectionist measures as a consequence, this will not have the effect we need to have on the global economy. And that's ultimately the global economy that's pulling most of us down, particularly countries like Canada, that aren't the source of these current economic troubles.
Sooner or later, you will see a China-based company that really has a global impact, and I think Baidu has a chance to become one of those companies. We should be able to compete on a global basis.
I am financing global pictures with global talents. Of course I will bring in the Chinese elements, yet you have to have global talents to create a global picture.
What's going on in this country? Unions stand against those trends. We've got to somehow insulate the robust American economy from this global economy that seems to want to devour our standard of living.
The global economic outlook remains fragile and uncertain. Global economic imbalances persist and we must address them or risk future instability.
I think business, government and unions have to work together, and the common enemies to the global economy. We're being beaten by the global economy, and we've got to unite together to win.
The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit. In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. Deficit spending is simply a scheme for the hidden confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists' antagonism toward the gold standard.
The way the textbook works is you have gains from trade that should be distributed across all the trading partners. As soon as one bad actor like China massively cheats, they win at the expense of us; they win at the expense of Europe, and over time, it threatens the entire integrity of the global financial system and the global trading system.
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