PETER SCHIFF

PETER SCHIFF

Tuesday, August 24, 2010

Peter Schiff : The Bond Market is the mother of all bubbles right now

Time to flee US treasuries

CNBC Aug. 23 2010 : Peter schiff : I am sure I can speak for Mister Marc Faber as well I have met him several times and we agree on this , I think The Bond Market is the mother of all bubbles right now when it burst the loses will dwarf the losses of the combined losses of the stock market bubble and the real estate bubble , no the problem is there is no way for the government to pay this money back theonly way they can do that will be a tax increase which is just horrendous and can never be accomplished , or the government gonna have to tell people on social security or medicare that they are not gonna get their checks because the government needs it to pay interests on the debt , and it is not only paying the interest , what i am afraid is that when people realize that we cannot pay this money back we're going to be able to roll all these short term debts so it's not just paying the interest , we gonna have start retiring the principal and that just impossible so it's going to be massive inflation ...."...."this decade is going to be the worst decade for  bonds in history , bonds holders are going to be wiped out..."
Whether now is the time to ditch Treasuries, with Marc Faber, The Gloom, Boom & Doom Report; Peter Schiff, Euro Pacific Capital and CNBC's Sue Herera.

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