Peter Schiff Talks Cyprus on Red Eye Radio (Audio)

Gary McNamara interviewed Peter Schiff on Red Eye Radio last night. They spoke about Cyprus, the danger of saving fiat money in banks, and the general mismanagement of the American economy paving the way for the real crash that is yet to come.

“Savers are losing due to quantitative easing. We’ve got 0% interest rates, we’ve got inflation that’s destroying the value of bank deposits. What is happening in Cyprus is a more honest way for the government to steal your money. I think it is a much better way than the way everyone else is doing it. It certainly is a wake up call in the respect that people need to worry about the safety of their bank deposits. Because one way or another, people who have fiat currencies deposited in banks are going to lose.”

Click Here to Listen to Peter Schiff on Red Eye Radio

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