Another great video by Peter Schiff as usual. He points out that, in the latest deal to “save” Greece, Germany has given into pressure. Once again the leadership has not shown courage, and problems are not dealt with — just put off until later. I suspect the Greece is learning, that if they don’t meet the obligations that Europe has placed upon them, and don’t take their threats seriously, that in the end European politicians will keep funneling money to Greece, because the possibility of a Greek default is simply unacceptable to the rest of Europe. If Greece calls their bluff, Europe will blink, because it is simply easier to keep paying off Greece, then to actually have to deal with the problem.
Another point that Peter Schiff makes is that the Fed is now going to do continual quantitative easing (or in honest language, money printing), because they have announced plans to buy as many trader bills as is necessary to keep interest rates below a certain level. The money that comes to buy these open-ended treasurer Bill purchases comes from the printing press. Politicians have been clever at trying to disguise massive money printing. The first two were called stimuluses. And then we had two rounds of quantitative easing (money printing). Now you have a form of stealth quantitative easing (money printing). In the end it’s all just an effort by our leaders to take money — either borrowed or printed — in a desperate attempt to keep the economy afloat and to forestall the inevitable: all the while simply allowing the problem to grow and fester.
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