Tuesday, December 18, 2012

Peter Schiff : Our Economy Will Ultimately Collapse Due to the Fed Money Printing Machine

Mark Matheny
December 18, 2012

Peter Schiff appeared on CNBC stating that the economic collapse coming will in large part be the fault of our own government.

"I think it is structural, and I think it's the government that structured it this way. The Fed with cheap money, .. with the government, with our tax codes, and all the regulations. We have too many people consuming, and not enough people producing.
We don't have enough laboring and manufacturing as we should. The government makes it too easy for people not to work by giving them viable alternatives, so we've created this situation, where people aren't going to work, and we're going to continue to rely upon the jobs abroad, as we hemorage red ink and the Fed keeps printing money to finance our trade deficits and eventually - and I'm not talking about in the distant future - but sometime soon, this whole artificial economy is going to implode".

December 17, 2012 CNBC News

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