Tuesday, May 10, 2011

Peter Schiff : it is impossible to pay off The Debt especially when interest rates rise

Peter Schiff : unfortunately I did not win probably because I was telling the truth about these issues , most politicians are demagogs ...we can't pay this money back , we are like Bernie Madoff we are constatly hoping our creditors roll over the debt but let's face the issue right now because if we don't restructure the debt we gonna inflate it away is impossible to pay it off especially when interest rates rise , i mean we are able to service it right now because the FED got rates at Zero but when rates rise as they inevitably must and the longer we wait to do it the harder it is going to go , we got no chance at servicing this debt with real money

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