Wednesday, July 22, 2015

We cant pay our creditors

"What's happening in Greece and what's happening in Puerto Rico is going to happen in the United States."

"Once the Greek creditors began to question the solvency of Greece they demanded higher interest rates. The minute our creditors figure out we are in the same position as Greece or Puerto Rico, they're going to demand higher interest rate from us and we can't pay either."

Peter Schiff is a smart investor and author of several best selling books. He correctly predicted the economic meltdown of 2008 - 2009