Is a world war the only solution?
"phony" economy that is "completely dependent on the ability to borrow more money that we can't pay back."
US at the brink of a devastating economic crash that will cause catastrophic losses and impoverish millions.
Yet Washington is engaged in a massive "campaign" to make Americans believe the economy is in recovery.
Money Morning
The "disease" Schiff refers to is a toxic combination of our massive $16.4 trillion debt and the Fed's continued devaluing of the dollar through its controversial 7-year long "easing" program.
The Fed is currently purchasing $85 billion a month in Treasury and mortgage bonds, a form of stimulus
"It simply is being kept from collapse by artificially low interest rates and quantitative easing. As that support goes, the economy will implode."
"The crisis is imminent," Schiff said. "I don't think Obama is going to finish his second term without the bottom dropping out.
Schiff charged Washington with cooking the books on its latest GDP and inflation figures.
He cites the government's recent move to raise GDP 3% by including items never calculated before and that "no other country on the planet counts."
These include such intangibles costs and royalties from books, magazines iTunes song and movies.
"The fact is, Schiff said. "We're broke. We owe trillions. Look at our budget deficit; look at the debt to GDP ratio, the unfunded liabilities. If we were in the Eurozone, they would kick us out."
... Capitalism run amok corrupted wild raw robbery: From Biggest Creditor to Biggest Debt Nation.
"It's not that the stock market is gaining value... it's that our money is losing value. And so if you have a debased currency... a devalued currency, the price of everything goes up. Stocks are no exception,"
"I think we are heading for a worse economic crisis than we had in 2007," Schiff said.
"You're going to have a collapse in the dollar...a huge spike in interest rates... and our whole economy, which is built on the foundation of cheap money, is going to topple when you pull the rug out from under it."
Demented conservative wild capitalism:
when the "real crash" comes," it will be worse than the Great Depression.Unemployment will skyrocket, credit will dry up, and worse, the dollar will collapse completely, "wiping out all savings and sending consumer prices into the stratosphere."
> 911 is controlled demolition inside conspiracy false flag. A first shot of the Last World War of humankind.
Worms will replace humans. A big change?
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