Peter Schiff on US Economy

• Alex Jones interviews Peter Schiff on 4 Feb. Schiff reviews the current state of the US economy and explains what is likely to happen next.
   
• According to Schiff, government policies under Obama will exacerbate the recession into a prolonged depression much like the 1st Great Depression. The government is “pouring gasoline onto a raging fire!”.
   
• Schiff gives a brief overview of the Gold Standard and how America abandoned it. America created an economy based on consumption and debt, instead of strong work ethics, production and savings. America needs to rebuild its manufacturing base.
   
• Upcoming is the collapse of the USD and consequently rising interest rates. Will it happen this year?

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