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Mark (US expat) in Singapore
I have developed a theory about how the US will get rid of the national debt. Borrowing is the equivalent of printing, except that there is interest to pay later. If the US could eliminate the interest then it could roll over debt forever and ‘borrowing’ would just be a disguise for printing money or currency inflation. Could QE and endless increases in national debt just be a vehicle for the Fed to acquire the national debt at virtually interest free terms? Hence, the Fed owns 25% of the debt now but could own 75% later and make it such a bad investment the holders of the other 25% will bail. Then the US government just rolls over debt as a permanent increase in the money supply. What are your thoughts on that?
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Peter Schiff is an American investment broker, author, financial commentator, and was a candidate in the 2010 Republican primary for the US Senate.
Video © and provided by Peter Schiff.
Peter Schiff is an American investment broker, author, financial commentator, and was a candidate in the 2010 Republican primary for the US Senate.
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