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February 8, 2012

We Have Abused The Privilege Of Being The Issuer Of The World`s Reserve Currency

The americans are used to the dollar being supreme, that is how we were able to live the lifestyle that we do live. Even though our standard of living is not as great as it once was, it`s still a lot higher than it`s going to be because we were able to live beyond our means thanks to the dollar.

But we have abused the privilege of being the issuer of the world`s reserve currency...I think a dollar crisis, a US sovereign debt crisis is close at hand. - excerpt from a Kerry Lutz video interview, Youtube

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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