Hyperinflation is going to be worse than default and restructuring, a legitimate deflationary collapse. The problem for the United States is that if we destroy the dollar`s value, and it is no longer the reserve currency, americans all of a sudden are in this shock therapy where we have to live within our means, we can only consume to the extend that we produce. Our productive capacity has been so diminished over the years, we don`t really know how to survive right now. We don`t have the factories, they are gone. we don`t have the skilled and trained workforce.
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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- We Need To Glorify Profits
- Alan Greenspan: U.S. Housing Bubble & The Berlin W...
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- An Economy That Lives By QE, Dies by QE
- The Federal Reserve Can` t Remove The QE
- The Federal Reserve Will Up The Dosage
- Video: The Federal Reserve Will Do The Opposite Of...
- It`s Not The Debt Ceiling, It`s The Lending Ceilin...
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- Yellen Was The Worst Choice
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- The U.S. Economy Has Lost Ability To Produce
- The Federal Reserve Has No Exit Strategy
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- Obama Does Not Believe In Free Market Principles
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