Monthly Archives: March 2013

Peter Schiff answers a listener’s question about the possibility of another downgrade of US debt. Government debt isn’t the only investment to avoid – stay away from any dollar-denominated asset, and buy something with real value!

Ask Peter your own questions by calling into the Peter Schiff Show from 10 AM to 12 PM EST, Monday through Friday, at 855-4-SCHIFF.

“US government debt is, in effect, junk. And I think if you buy it, you will lose. You will either lose because the government defaults, or you will lose because you get repaid in money of diminished value. Either way, I don’t think that you want to buy the bonds. It doesn’t matter what S&P or Moody’s says.”

In his latest video blog post, Peter Schiff comments on the sequester cuts that went into effect on Friday, and then expounds on Ben Bernanke’s unrealistic exit strategy from the Fed’s quantitative easing.

“The Federal Reserve thinks that somehow, if they can just get this economy going with all this artificial stimulus, that they can remove these training wheels, and the economy is just going to coast along on its own. Well, it’s impossible. The stimulus – it’s not the training wheels, it’s the only wheels. You take those wheels away and the economy collapses. Ben Bernanke thinks he’s building an economy that can sustain itself without the Fed. It’s the opposite: Ben Bernanke is creating an economy that is completely dependent on the Fed.”