Greece Is Broke, They Are Not Going To Pay The Money Back

It cannot work. You have to admit the obvious, that Greece is broke and trying to come up with ways to pretend that they are going to pay the money back is not going to work. They should never have bailed them out the first time.

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

Interest Rates: Damned If They Do, Damned If They Don`t

We are damned if they do raise rates and damned if they don`t. If they do raise interest rates they prick the bubble that they have inflated. Because we have so much debt, the only reason the bubble has not already bursted is because rates are still at zero. So, if they move them back up to 2 or 3 percent, which is still historically very low, given how much debt we have, it is impossible to sustain 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.