Fox Business spoke with Peter Schiff yesterday about the growing number of Americans renouncing their US citizenship because of onerous taxes and regulations. Most people probably can’t afford to renounce their citizenship, but they can buy gold and silver as a way of escaping the collapsing dollar.
“I think over time, more and more entrepreneurs, young people who want to make something of themselves and who find it a lot more difficult to do it here, because of their taxes and regulations – they’re going to want to leave. And I think a lot of Americans are going to want to get their money out of the US because of the inflation that I see coming and the weakness in the dollar.”
Follow us on Twitter to stay up-to-date on Peter Schiff’s latest thoughts: @SchiffBlog
We live in interesting times to say the least! What is the government so afraid of? Our country has seen recessions, has lived through the Great Depression and has bounced back with as a strong economy. Ok, I guess I get this. We are off the gold standard so gold confiscation won’t work this time around. Maybe in this financial crisis/ apocalypse the government will keep the treasury green by keeping people within the country and levying taxes on them. Toil and trouble ahead.