Peter Schiff: “Default or Not, U.S. Dollar Is Going to Collapse Either Way” (Video)
BY VOICE OF REASON
THELASTGREATSTAND.COM
TUESDAY, NOVEMBER 22ND, 2016
This post picks right up where a previous post earlier left off titled, Dr. Jim Willie: We Are Facing the Worst Bond Crisis in 15 years, and the world is quickly losing confidence in the U.S. In the interview below, this time it’s Peter Schiff who talks about just how dire states of the U.S. economy is right now, as President-Elect Trump is about to take office.
Here are the facts, and they are very painful facts for anyone who hasn’t come to terms with them yet: It all starts with the fact that the U.S. is bankrupt, regardless of the nonsense politicians say. Being bankrupt is bad, but being bankrupt with rising interest rates is going to be brutal. Many of our creditors have already started dumping U.S. Treasuries already, figuring they should probably get what they can while they’re still worth something, which was explained in the post referenced above.
No thanks to the Fed, which printed over $6 TRILLION Dollars out of thin air during Obama’s presidency, our currency has now lost 98% of its value since coming off the Gold Standard in 1971, which was the last time the U.S. defaulted on its debts. Once again we’ve lived beyond our means, but this time there are no more life lines.
The Rest…HERE
