Peter Schiff’s latest video blog exposes the reality of Congress’ avoidance of the so-called fiscal cliff and what it means to future of the American economy.
“Americans are going to see their standard of living shrink. That’s the cliff. We’re going over the currency cliff. They threw the dollar over the currency cliff to avoid the fiscal cliff. Because we still have to pay for government one way or another. And so what’s going to happen is the deficits are going to be bigger than ever and we’re going to have to print money. The Federal Reserve is going to print money and monetize all this debt.”