America Is More Bankrupted Than Puerto Rico

Its all about perception. Puerto Rico is broke, we all know that. But it was broke 2 years ago, it was broke 3 years ago. Why did not anybody care? Creditors kept lending the money even though they were broke. Well, eventually people wake up and they realize that a debtor is broke. America is more bankrupted than Puerto Rico, our creditors have not figured out yet. We might not default but we will print.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Stock Market: I Am Not Short

I am not short the market because I do believe that the Federal Reserve will put a floor beneath the market by printing money. But the ultimate collapse is in the U.S. Dollar. It has not happened yet but the Federal Reserve is going to sacrifice the U.S. Dollar. (SPDR S&P 500 Index ETF (SPY), SPDR Dow Jones Industrial Average ETF (DIA), Nasdaq 100 Index ETF (QQQ), iShares Russell 2000 Index ETF (IWM))

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.