Peter Schiff says the market must be left to deal with the mess, and Government intervention will merely delay the inevitable reckoning and lead to a
far worse crash.
He spoke to Stephen Long.
PETER SCHIFF: Well I don't think it's gonna rescue us from anything.
I think what we're doing is the equivalent of selling our financial souls to the devil, because it was the government that got us into this mess.
It's Henry Paulson, it's Ben Bernanke and his predecessor Alan Greenspan, they created this mess, not the free market and there's no solution that
involves more government. And there's certainly no solution that involves more inflation.
I mean if we think we can solve our problems by creating inflation, we ought to send some of these guys down to Zimbabwe to see how well it's
working out for them.
STEPHEN LONG: You're not suggesting that America could end up in a situation like Zimbabwe with totally out of control inflation?
PETER SCHIFF: No, no… Yes I am. I'm not only suggesting that, I'm saying that.
STEPHEN LONG: Why do you think that that's the case?
PETER SCHIFF: Because that's all we've got. You know, if we keep creating money, maybe another couple of trillion dollars to try to buy up all these
mortgages that never would have existed if it wasn't for number one; the Federal Reserve keeping interest rates much too low and then the government
interfering in the housing market with entities like Fannie Mae and Freddie Mac, which insured all these mortgages and which allowed all these crazy
mortgage products to come into existence, they never would have existed absent these government guarantees.
www.abc.net.au...
interesting , analysts believe that USA is heading the way of Zimbabwe in terms of hyperinflation ....
Zimbabwe has inflation of 1000+ % , if such inflation hits USA, the US economy is guaranteed to collapse
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no doubt , USA will collapse , worse than USSR, and then possibly have civil war, after with baboons like Bush , this was bound to happen
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Just a note. Zimbabwe's inflation rate jumped to 2.2 million % lately. However, as of the time of this posting, it is now numerically impossible to
calculate it, because there is no more money to inflate.
[edit on 1-12-2008 by cognoscente]
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Originally posted by sadchild01
no doubt , USA will collapse , worse than USSR, and then possibly have civil war, after with baboons like Bush , this was bound to happen
Yes you are right. Just like the USSR they will break up. I recently posted a prediction made by a Russian professor who predicted the economic crash
and the breakup of the US.
Link
The US may still have one Chance........ The Amero
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Zimbabwe agrees with Peter Schiff:
>> Global Meltdown >> Reserve Bank of Zimbabwe Commends US and UK Authorities for Following Its Lead
www.abovetopsecret.com...
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Originally posted by manson_322
STEPHEN LONG: You're not suggesting that America could end up in a situation like Zimbabwe with totally out of control inflation?
PETER SCHIFF: No, no… Yes I am. I'm not only suggesting that, I'm saying that.
What an insult! Peter Shiff doesn't suggest things; when Peter Shiff open his mouth he means it.
But what about the other anal... whatever?
"The demand is coming from either convexity buying needs or real fears of deflation," said Andrew Brenner, senior vice president at MF
Global in New York.
Economists have expressed concern recently that rapidly falling prices for certain commodities like crude oil will lead to deflation.
money.cnn.com...
So what are we gonna do; inflate or deflate? Huh?
Maybe we should start with shutting up those incompetent nostradamuses who contradict each other whenever they open their wise hole.
[edit on 12/2/2008 by stander]
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You wrong!
"Zimbabwe has inflation of 1000+ % , if such inflation hits USA, the US economy is guaranteed to collapse"
Zimbabwe's inflation is 231 Million %!
You think i am joking? Look it up!
I have no comments for what is going on~!
There is no Logic!
JUST PURE INSANITY!
IN THE LAND OF THE BLIND THE ONE EYE IS KING!
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