Monday, March 15, 2010

Peter Schiff Moodys Downgrade: Should We Care? MSNBC 15 Mar 2010

Peter Schiff on Peter Schiff on Power Lunch. MSNBC 15 Mar 2010

"who cares what Moody's says , they got it wrong in the past and they are wrong now " says Peter Schiff "if you think about US treasury debt , think junk bonds , think subprime mortgages , there is no way we could possibly pay this money back , there are only two things we could possibly do , we could default legitimately or we can do it through inflation , one way or the other the creditors are going to lose a lot of money , loaning money to the United States Treasury ...and unfortunately the more money the government borrows now the worse our economy becomes , because they are using that money to undermine our economy " Peter Schiff explained

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