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March 16, 2010

There Is No Way We Can Pay This Money Back

"Who cares what Moody`s says, I mean they got it wrong before in the past and they are wrong now. If you are thinking US Treasuries, think junk bonds, think subprime mortgages. There is no way we can possibly pay this money back.

There are only things that we can do. We can default legitimally, or we can do it through inflation. But one way or another the creditors are going to lose a lot of money."

in CNBC

Related Etf`s: iShares Lehman 20+ Year Treas.Bond (ETF) (Public, NYSE:TLT) and ProShares UltraShort 20+ Year Trea (ETF) (Public, NYSE:TBT)

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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