“Cyprus is a wake-up call for everybody who has a bank deposit. When you are depositor, you are in fact lending your money to the bank. There’s no question banks will fail. The question is will government do the right thing and allow depositors to lose money. Or, do the wrong thing and bailout depositors by printing a bunch of money which, in the long run, means deposits will lose even more value.” - in Before It`s News
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.