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February 5, 2010

Video Update On Recent Market Events

"People are looking at the wrong things. Things like the risk of Greece defaulting and forgeting about the greater risk of the United States defaulting. Because I think the US is in worst shape then most countries in Europe. If you just look at the situation in Greece, I now their debt to GDP ratio is higher than ours. But our GDP is a flop. If you look just at the manufacturing part of the GDP, goods production and you compare our deficits to that...it`s off the charts. No other country compares."

Topics: Sovereign debt default concerns; sovereign credit risk; US Dollar;

Peter Schiff`s comments on the economy, stock markets, politics and gold. Schiff is the renowned writer of the bestseller Crash Proof: How to Profit from the Coming Economic Collapse.
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