By Dominique de Kevelioc de Bailleul
Of course Nobel laureate Paul Krugman must have known he took a swing at the wrong guy with his preposterous post of Dec. 15, that is, of course, if Krugman was truly looking for a bona fide debate with Euro Pacific Capital CEO Peter Schiff. See BER article, Paul Krugman Takes a Swing at Peter Schiff & Ron Paul. Sign-up for my 100% FREE Alerts
Within 24 hours, Schiff was on the counterattack, recording a 00:15:47 monologue on his The Schiff Report the day’s events, but using most of the time challenging Krugman to a debate on the subject of inflation and the gold price.
Below, is a transcript of the Schiff’s response to Krugman provocative post. Six minutes and 32 seconds into the video is the spot when Schiff challenges Krugman to a debate, discussion, or maybe even an old fashion Burr-Hamilton-style duel. It’s Krugman’s choice.
Transcript beginning 00:06:32—
The interesting thing about Paul Krugman is: I’ve been trying to get the guy on my show for years. I’ve been trying to have him debate me. Plenty of universities, including his own, have offered to host a debate between he and I, yet he always refuses.
You know, he likes to take a few jabs at me in his column, but why not step into the ring? Why not come on the Peter Schiff Show. I’ll give you the whole two hours. You have plenty of time to talk. Why not hit at a target that can punch back, that can move. He wants to take pot shots at a punching bag. Step in the ring and have a real battle with someone who can move around and fight back.
If you really believe in Keynesian-ism; if you think the Austrians complete wrong and foolish, here’s the chance to prove it. Take me down. Show me why I’m wrong. I’d happy to discuss that crazy piece that you wrote about the babysitter coop.
If you haven’t seen that, go on my YouTube Channel and look at my critique of the model he holds out as [proving] that money printing doesn’t cause inflation and somehow proving that the Keynesians are right and the Austrians are wrong. It doesn’t prove it at all; in fact, it proves the reverse, which is exactly what would happen if Paul Krugman agreed to come on my show.
And, of course, if you don’t want to come on my show, I’ll come on any show you want. If you want someone else to host it, if you want to do something live, as I say, I’ll meet you anytime, any place and we can discuss—it doesn’t even have to be a debate; it’s a discussion—we’ll discuss economics; we’ll discuss Keynesian-ism versus Austrian School; and we’ll discuss what’s going to happen to inflation and the value of the dollar and the price of gold.
Transcript Ending 00:12:37—
Krugman’s most likely agenda is to stir up some publicity for himself and at the same time help economist Nouriel Roubini and the gold market’s Lord Haw-Haw Dennis Gartman with the propaganda war against gold during an election year and a Fed desperate to ignite the money supply machine to pump even faster.
It appears Krugman needs a stroke, especially when he loses sleep from Ron Paul’s remarkable surge in the Republican party presidential race to move hand-in-hand with gold’s continued bull market. It’s been a tough three years since Krugman was awarded the now-dubious prize for economic ‘sciences’.
Moreover, it appears the Joseph Goebbels propaganda machine has been switched on—again, with its legion of Lord Haw-Haws at the ready to spout the US dollar safe haven status on any pullback in the precious metal. Maybe the media blitz against gold could instead be used as a contrary indicator.
In fact, just today, famed commodities trader Jim Rogers said on Fox Business Networkhe’s not only moving out of dollars, he’s preparing to short the dollar:
“I am not short bonds yet, but I plan to be short bonds,” he told FBN, referring to US dollar denominated sovereign paper. “If the world economy gets better, you are going to make money in commodities because that is where the shortages are.
“If the economy does not get better, they [central banks] are going to print money and when it does get better, you better own commodities, such as silver and rice.” Emphasis added. Also see KWN for the latest development in the silver market.
Back to Schiff: He rhetorically asks in his monologue why the small investor sells his gold when instead it should be bought. He speculates: “Maybe people are reading too many Paul Krugman columns.”
Marc Faber’s reckons that’s the reason as well. See BER article, Marc Faber Fears Gold Confiscation.
“Remember, don’t be fooled, don’t sell out your gold because someone on television scares you and says, this is it, the bottom has fallen out, it’s going to collapse,” Schiff leaves the viewer.
Ideology, not intellectual honesty, is Krugman’s game. Ditto for Nouriel Roubini and, to some extent, Dennis Gartman. After Schiff’s retort, no doubt Krugman is running to his mommy, or more pointedly, his Uncle Sam, the Fascist sociopath. Sign-up for my 100% FREE Alerts
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Post Written By: Mr. Dominique de Kevelioc, de Bailleul
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