Peter Schiff : Moodys credibility is Junk Rated

Peter Schiff : ...the ultimate of ironies here , Moody's came out over the weekend , actyually this morning and basically called for a complete abolishing of the debt ceiling that it is too dangerous for America to have a debt ceiling so according to Moody's the threat to America is not that we are taking on too much debt but that we might stop that we are not going to take on enough ....!!!!!!

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