“As interest rates rise, it’s not only going to be the states that can’t pay, but the federal government that can’t pay.
The money they print to bail out these states will render the bonds worth a lot less. You lose either way. Either you lose because the states default and you don’t get your money back or you lose because the government bails them out and you get your money back, but you can’t buy anything with it.”
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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- Home Prices Are Still Too High.
- CNBC Video: Muni Meltdown Is Coming
- Latest Video Market Update: Chinese Rate Hike
- Muni Bond Crisis is Coming
- US Economic Outlook For 2011
- Avoid Long Term Bonds, Treasuries And Municipal Bo...
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- Europe, Bailouts And Debt
- Europe Is Making Some Very Bad Decisions.
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