Peter Schiff’s latest conversation with Greg Hunter on USAWatchdog revolves around the trustworthiness of government-insured banks in the wake of the Cypriot crisis, the inevitably painful unwinding of the Fed’s stimulus, and the long-term future for gold.
“I think with interest rates so low in many parts of the world… why would you leave any extra money in a bank to get 0% interest, when you know that your bank is probably insolvent, may very well fail, and even if the FDIC bails you out, you’re going to lose to inflation? So why take a risk? I think pull your money out, put it in some kind of investment… Buy anything other than a piece of paper which is going to lose value.”