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May 18, 2011

If QE Comes To An End We Are Going To Default On The Debt.

If QE comes to an end, we're going to default on the debt because we're not going to be able to make the interest payments.

All these major banks are going to fail again, their balance sheets can't withstand rising interest rates. And interest rates would rise sharply if you take the fed out of the picture. - in CNBC Fast Money

Related: Bank Of America (BAC), JP Morgan (JPM), Citigroup (C), Wells Fargo (WFC), Goldman Sachs (GS), Financial Select Sector SPDR (ETF) (XLF), ProShares UltraShort 20+ Year Treasuries (ETF) (NYSE:TBT), iShares Barclays 20+ Year Treasury Bond (ETF) (NYSE:TLT)

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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