Phony Economy Needs to Collapse (Video)

Peter Schiff spoke with Hedgeye TV CEO Keith McCullough this week on “Real Conversations”. Peter discussed his debate with Nouriel Roubini from last week, explaining why Keynesian economists like Roubini are dead wrong when they argue that deflation is bad for the economy. Peter also explained his precious metals strategy based upon what he expects the government to do, not what he hopes it will do. This is an excellent, relaxed introduction to Peter’s investment philosophy.

“If the government acted responsibly, that would counter my [gold] investing thesis. But I’m investing the way I’m investing because I’m sure the government is not going to be responsible. They’re going to be reckless, they’re going to keep on printing money until we have a currency crisis. And so I’m prepared for what I think is going to happen…”

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One Response to Phony Economy Needs to Collapse (Video)

  1. Prime Values says:

    Technically it’s healthy for it to collapse in order to be rebuilt afterwards. But I wouldn’t like to witness the social-economic implications of a US economy collapse.
    Detroit scenario?
    The big question is how long will it take to get out of the collapsed economy? 2-3 years? A generation’s lifetime?