Thursday, April 29, 2010

Peter Schiff : The sovereign credit risk in the United States is just as great if not greater than Greece - The Dollar will Collapse

Peter Schiff : Consumers are going deeper into debt

Peter Schiff : Stocks Plummet as Market Wakes Up to Real Crisis
Peter Schiff :"All we have done is dig ourselves into bigger debt , we have accumulated tremendous amount of liabilities of debt , our debt is growing much faster than our GDP , that debt has to be repaid with interest , of course right now we are able to finance our national debt with a teaser rate we have got short term financing , but when interest rates rise we cannot do that , look at what's happening in Greece all of a sudden short term rates are fifteen percent they were just two percent three percent just few months ago , the same will be happening to the United States , we are in the same situation that they are , we gonna move up the food chain , it is not just Greece it is not may be just Spain and Portugal , we are in very bad shape the sovereign credit risk in the United States is just as great if not greater than Greece "

"The fact that we can print money does not mean we cannot default , it just means that we will default in a different way"Peter Schiff added

Peter David Schiff, president of Euro-Pacific Capital, is a Connecticut-based brokerage firm have correctly predicted the U.S. stock-market collapse , the home mortgage meltdown and the credit crunch .
Peter Schiff discusses politics, world economies, and investment strategies and is now running for a Senate Seat in his native Connecticut , Peter Schiff is Author of the Best Seller Crash Proof How to Profit From the Coming Economic Collapse

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