CHARLES GOYETTE on The Government Shutdown , Debt Ceiling & Obamacare - Goldseek Radio Oct 3, 2013
Chris Waltzek talks to Charles Goyette author of "The Dollar Meltdown" and "Red Blue and Broke All Over"
Charles Goyette has long been known in Phoenix as "America’s Most Independent Talk Show Host!" With years of hands-on experience as an investment professional, he brings a welcome dimension of foresight and clarity to his political and economic commentary. Goyette has been called on often to share his views with television audiences nationally on CNN, Fox News, MSNBC, and PBS, including on The O’Reilly Factor, the popular PBS program NOW with Bill Moyers, and as a frequent guest on Lou Dobbs Tonight on CNN, repeatedly warning before the current economic turmoil of the "economic calamity the Republicans and Democrats" were creating. Longtime financial professional Charles Goyette discussed the continued devaluation of the U.S. dollar, and how he sees this crisis unfolding for the average American. Over the years, the dollar has lost 96% of its purchasing power, he said, and the current rise in the price of gold reflects the fall of US currency. America has a staggering amount of debt--$1.3 million for every family; these debts will be accrued in some manner-- typically by fleecing the middle class, he warned.
The U.S. is moving away from being a "free economy" which depends on agreement and produces prosperity, Goyette noted. Instead, we're seeing a movement toward a "command economy, " he said, which produces shortages, and is run by "coercion," with resources, production, and consumption directed by a central command such as boards, commissions, and administrators. What has been taking place in industries such as insurance, automotive, banking, and health care are all examples of the "command economy," he detailed.
While credit card companies are slashing people's credit and forcing them to save, banks aren't offering any incentive for savers with their low return rates, he reported. As the dollar continues to be worth less, Goyette advised people to put some of their investments in gold and silver, and also consider other opportunities such as agricultural and natural resources.