Schiff on Russia Today (Video)

Peter Schiff had a lengthy conversation with Lauren Lyster on Russia Today earlier this week. They discussed hidden inflation, the realities of our consumer economy, and the dollar as a reserve currency.

“People are underestimating around the world just how important cheap money is to our borrow and spend economy. And they’re overestimating the ability of the Fed to withdraw that liquidity and have the economy continue to grow on its own. It can’t. The growth that we’re having now is not legitimate growth. It is simply borrowed money that we’re spending and we’re counting that as economic growth.”

His interview begins at 2:45 in the video below.

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