The reason why the Fed will not let interest rates go up is because if they let interest rates go up, we cannot afford to pay the interest on our debt and we would have to default. To avoid the embarassment of a default they keep interest rates artificially low. But I think its better to be honest and default than going through a currency crisis that we are heading to.
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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- Gold Stocks Are Not Expensive At All
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- Why The Fed Will Not Raise Interest Rates
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