Peter Schiff was interviewed by the MoneyShow.com Video Network about the US debt crisis and what investors can do to avoid the real crash.
“I think moving moving away from real money to fiat money – that is the real root of the evil…The reason we were able to borrow so much money, the reason our economy was transformed from an investment, production, and savings economy to this gigantic debt bubble of consumption and big government, is because of paper money. And because the dollar became the world’s reserve currency, we were able to keep this scheme going for a lot longer than any other nation historically was able to do…Just like every bubble, it is going to burst.”
Peter is impresive and to the point on his estimates where the fed is headed and direct on his solutions. Unfotuanly. He really looks and acts like an honest man and I would vote for him now and I hope the political pressures to be do not sway hiw conviction for the truth.
My oibservation is that he needs to eeds “polishes his style” and embrace the powers that be and play the game as the powers predict. Remember, if he cannot be elected, there is little he can do for anyone.
I wish him the best and I would be delighted to meet him in FL as I was to meet SBAC Chairman Steven Burnstein several years ago.
At any rate he is “my kind of guy”, I wish him the best and hope might meet one day in the future.
Best regards,
W. F. McNair
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