Dr. Willie and Peter Schiff Together: Total Currency Collapse and Reset Coming
BY VOICE OF REASON
THELASTGREATSTAND.COM
TUESDAY, FEBRUARY 23RD, 2016
In the post below, you get the trifecta of today’s brilliant economic minds all together in one place. First, you’ll hear from both Peter Schiff and Dr. Jim Willie in the two part interview, then followed up with an article from Michael Snyder, who confirms everything the first two say, but from his own perspective.
As you might expect from Peter Schiff, In the first part of the interview below, Peter says a lot of the same things he’s been saying for quite some time to anyone who’s had enough sense to listen. He begins by saying the current problems with the U.S. economy began right after the “Great Recession of 2008.” Instead of accepting responsibility for creating the housing bubble when the Fed inflated the market with such cheap money, in the immediate aftermath of the 2008 crash, the Fed pursued an even more irresponsible monetary policy than before the 2008 crash. The result is that now we have a vastly bigger bubble than we did in 2008, and when the Fed raised rates not too long ago, they inadvertently pricked their own bubble. Peter says that we’re seeing now, is the very beginning of the air coming out, and he says things are going to get much, much, much worse.
After giving a brief explanation of what is causing the collapse that is just now beginning, Peter goes into detail of what negative interest rates are, and why banks in the U.S. might choose to charge negative interest. In short, negative interest occurs when banks have too much money on their books, and they should be lending it out only they can’t, usually for one of two reasons. Typically, market conditions are such that either the people who need money the most don’t have good enough credit to borrow any, or the people who do have good enough credit want no part of borrowing money because they know we are heading into a total collapse. The end result is that instead of banks PAYING you interest on the money you keep on deposit with them, they CHARGE you to hold onto your money on deposit. It’s a long interview, so Peter has much more to say, and I suggest you listen…
The Rest…HERE
