ECONOMICS / COMING CRISIS
Peter Schiff knows finance and economics better than anyone I know. He explains, in great detail, the financial disaster that's coming thanks to the Fed pumping up interest rates so much, it's basically going to destroy the banking industry. How is this going to happen? The assets that the banks are relying on to stay solvent, are paying LESS MONEY as both interest rates and inflation keeps climbing.
Think of it this way: if you are making $10,000 a year, and inflation is at 10% a year, then the REAL VALUE of your $10,000 is only $9,000 by the end of the year. Even though your paychecks keep coming every week, each week the value of your paycheck GOES DOWN because of inflation, even though the dollar value never changes.
- Pseudo Boethius