US Debt Crisis Will Be Worse Than Europe's

by Peter Schiff

Recently by Peter Schiff: The Roach Motel of American MonetaryPolicy

Peter Schiff was interviewed by the Video Network about the US debt crisis and what investors can do to avoid the real crash.

“I think moving moving away from real money to fiat money – that is the real root of the evil…The reason we were able to borrow so much money, the reason our economy was transformed from an investment, production, and savings economy to this gigantic debt bubble of consumption and big government, is because of paper money. And because the dollar became the world’s reserve currency, we were able to keep this scheme going for a lot longer than any other nation historically was able to do…Just like every bubble, it is going to burst.”