Tuesday, December 20, 2011

Peter Schiff : Europe is temporarily buying us some time

This is a very insightful speech given by Peter Schiff under the title 'What About Causes Economic Crisis' in an afternoon tea lecture series on the basic principals of Money , sponsored by Congressman Ron Paul . Peter Schiff explains what is money and why we should go back to the gold standard .Peter Schiff : "...the dollar is going to collapse , right now Europe is temporarily buying us some time but it is going to be very expensive time because it is enabling us to go deeper and deeper into debt , but again where is this debt is going , it is going to finance more government , the government bubble is worse than the housing bubble , it is worse than the dot com bubble , because at least in the dot com bubble we had a couple of companies that had value , at least with the housing bubble we had houses , but what we are getting from the government bubble ? we are getting more bureaucrats "






Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.


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