Debt Ceiling & the Fiscal Cliff (Video)

In the latest post of The Schiff Report, Peter talks about Obama’s attempt to eliminate the need for Congressional approval to raise the debt ceiling. If the President gets his way, the time has never been better to get out of US dollars and into hard assets like gold.

“Borrowing money to pay off maturing obligations is the exact definition of a Ponzi scheme. We need to continue to borrow more money so that we can continue to pretend to pay back the money we’ve already borrowed. In the guise of paying our bills, the President wants to make sure that we never have to pay our bills.” 

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