by Greg Hunter USA Watchdog
Recently by Peter Schiff: Congress Avoids the Cliff by Selling Us Down the River
Money manager Peter Schiff warns that Japan will likely stop buying U.S. government debt. He contends, u201CIf the Central Bank of Japan has a choice between monetizing Japanese debt or U.S. debt, they'll go for their own debt . . . that means the Fed has to print even more money.u201D Closer to home, the new debt deal also means more money printing because of even bigger deficits. According to Schiff, u201CThe majority of the tax increases were cancelled. The spending cuts were cancelled . . . the Fed is going to have to keep buying bonds to keep interest rates from surging.u201D Schiff thinks talk from the Fed about stopping the $85 billion a month money printing (QE) is preposterous. Schiff says, u201CThey can't do it. . . . The minute they try to take the cheap money away, the phony economy is going to crumble.u201D What's not going to crumble is the gold and silver market. Even though precious metals have been down recently, Schiff says, u201CSo what, buy more. Look at the sell off as an opportunity to unload more of your fiat currency and get some real money.u201D Join Greg Hunter as he goes One-on-One with Peter Schiff, CEO of Euro Pacific Precious Metals.