The Whole U.S. Economy Is Based On Debt

Our whole economy in the U.S. is based on debt. Its based on borrowing to consume, borrowing to speculate. The government is financing itself based on debt, all these checks they are mailing out are based on debt.

The rates need to be practically zero in order for anybody to afford servicing the debt. That is how enormous the debt is and when the FED eventually lets interest rates rise, everything comes crashing back down, much worse than 2008.

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

The Fundamentals Of The U.S. Economy

The fundamentals of the U.S. economy are much worse than they were when the FED began QE1. And you still have this idea that the FED can remove these supports and that the economy can somehow continue expanding on its own. It can`t. It is all a function of all that cheap money and artificially low interest rates that come with it.

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

The Potential Growth In Asian Capital Markets

I do think that Asia, so Hong Kong, Shanghai, I think those center are going to grow in influence over time as more and more wealth is created in Asia, as more savings are accumulated that need to be invested. I think, the capital markets will grow in those regions. Right now, a lot of it is outsourced to places like London and New York but I think over time they will do more of that in-house.

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

Video: Economics, Politics & Monetary Policy

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

The Federal Government Is Now Monetizing 150 Percent Of The Annual Budget Deficit

The federal government is now monetizing 150 percent of the annual budget deficit, when you look at what they are buying in mortgage backed securities and treasuries. This is the highest ever.

So the government is more addicted and more dependent on QE than it ever was. And not only they cannot take it away, they will have to increase it.

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

The Dollar Has Not Collapsed Yet, But It Will

The dollar has not collapsed yet, but I think it is going to collapse under the weight of all the inflation that has already been created. The government does not want to let interest rates rise. When they talked about tapering and then interest rates went up, they backed off.

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