We will need to have a complete monetary disaster before there is any impetus to change course. Because as long as the Federal Reserve can take the easy way, that is what they are going to do. As long as they keep subsidizing the growth of government and prop up the real estate market and the stock market they are going to keep doing it. It`s going to be pressures that are brought externally that will finally force us to do something different and the sooner that happens, the better, the sooner we have this crisis the sooner we can begin to deal with the underlying problems. The more we succeed in postponing the day of reckoning, the more we will have to reckon with, the more difficult it will be to solve the problem.
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
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