Peter Schiff – Stimulus Bill Will Lead to Unmitigated Disaster

• Peter Schiff on Obama stimulus plan and how it will turn a recession into a Great Depression. We will see a inflationary depression. The USD will collapse and gold will soar. (6 Feb 2009)
   
• Bond market is close to collapse or already collapsing. America will face “Unmitigated Disaster” much like the interventionist policies of Hoover and Roosevelt created the 1929-1939 Great Depression. Since America has got off the Gold Standard, US Government is out of control in printing money. This will no doubt lead to the debasement of the USD.
   
• Peter says :
   
  The problem, he says, is the government is trying to perpetuate a “phony economy” based on borrowing and spending. With the U.S. consumer tapped out, the government is “now taking on the mantle” of consumer of last resort.
   
• Peter continues, predicting the bond bubble will soon burst – if it hasn’t already – ultimately leading to a collapse of the dollar and an “inflationary depression worse than anything any of us have ever seen.”

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