All of America`s creditors are going to stop lending us money because we have already borrowed more than we can possibly repay.
The U.S. Dollar and U.S. Treasuries are probably the most over owned assets in the world. And if the creditors are going to stop lending us that just leaves the Federal Reserve. Because we either default which would be honest but politically almost impossible or the easier rout is to have the Federal Reserve monetizing the debt. (iShares Barclays 20+ Year Treasury Bond ETF (TLT), U.S. Treasuries)
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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