Congress Sells America Down the River (Video)

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.”

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2 Responses to Congress Sells America Down the River (Video)

  1. Matthew says:

    Hi Peter,

    Love your work. I live in Australia which had a 20 billion dollar surplus in 2008 and a change of government has since taken us to over a 170 billion dollar debt. We have a HUGE housing bubble here in Australia, bigger than the US and the Australian dollar has been sitting around $1.05 for years now.

    There has been many business collapses here of recent and manufacturing is shutting down and going to China in droves.

    Australia had been saved for a short term by mining in this Country buy China has slowed (our major export for Steel and iron) which has massively reduced the mining “boom” in Australia.

    I have $30,000 saved and I don’t want to buy property because I believe it is about to collapse and has and people still believe it is going to rise forever.

    I would like your prospective on Australia’s current situation and what would happen to Australia is the US dollar collapses.

    Should I invest in Silver?

    Many thanks, I love your work.

    P.S. Sept 2013 there is an election and I believe the current Labor party will be thrown out because of a lie in introducing a very unpopular carbon tax and a fiscally responsible Liberal party will come to power.

    • admin says:

      Thank you for your support, Matt. You pose some excellent questions which I cannot do justice to in this forum, though gold and silver are excellent safe havens for your wealth no matter where you live in the world. Call into my radio show next week and we can talk about Australia’s economy in more detail. You can listen live from 10am to Noon ET at The call-in number is 855-4-SCHIFF.