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Our incumbent President says that things are getting
better, jobs are being created, and America is on the road to recovery. His
opponent, Governor Mitt Romney, says the opposite, but claims he has a plan
that will turn things around and bring prosperity back.
According to free market proponent Peter Schiff, it
doesn’t matter who wins, because the crunch is coming – and
it’s going to become apparent during the next President’s
administration.
He [Mitt Romney] is not going to prevent the crisis.
We’re headed for a real economic collapse
regardless of who wins this election.
…
The government has over-promised. There are gigantic
Ponzi schemes. They do not work.
Meanwhile, the only reason the economy has not
collapsed is because interest rates are artificially low. the
Fed cannot keep interest rates low indefinitely, and when interest rates go
up the party is over. And then we’re not going to have a choice
anymore.
We’re going to have to finally deal with these
problems or destroy our currency, and that is a real economic crisis that is
going to make 2008 look like a walk in the park.
[The crunch] is going to happen in the next administration.
…
We can’t fix these problems by repealing Obamacare and cutting taxes. We have structural
problems that underline the U.S. economy that are very deep that require real
free market reforms, and unfortunately none of the major candidates are
even talking about that right now.
Video via:
Steve Quayle, Before
It’s News
Peter Schiff was ahead of the collapse of 2008,
warning clients of his firm Euro Pacific Capital that global equities
would crash as a result of fraud, unservicable debt
levels and a failed monetary policy. After the crash he, like many others,
urged Congress to address the fundamental problems within the US economy,
including fiscal, monetary and economic policy reform.
He and the American citizenry were ignored as
Washington not only didn’t listen, but engaged in exactly the opposite
of what should have been done.
Four years on we’re worse off than ever
before, with more money having been borrowed from foreign creditors and
stolen by the government from taxpayers under the guise of bailing out
essential financial and manufacturing sectors of the global economy.
We’re in too deep folks. At this point, it
cannot be stopped.
Trillions of dollars are owed, and as a country we
have no way to make good on that debt.
Confidence in the US dollar will soon be lost, and
when that happens we will experience a collapse in the United States and the
global economy unlike any that has ever been witnessed in the history of the
world.
Historians will write about this era for centuries
to come, just as they write of Rome today.
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