Peter Schiff - US Economy prophet - predicts the worst is yet to come

Peter Schiff nailed it in 2006 - predicted the credit crisis events of 2007 and 2008 well in advance.

The scary part . . . his prediction for 2009 and beyond.

Foreign governments stop buying US Treasuries to subsidize the flailing US economy

This lack of confidence will tank the $US 

Commodities (oil,gold) will rise creating massive inflation 

Interest rates will rise and the economy will contract into a prolonged multi-year depression .

Peter criticizes the US government bailout on loaned money from China, Japan, and Saudi Arabia, that it's only delaying the inevitable , and that US citizens are consuming beyond their means, too leveraged, with dangerously low savings rates. 

The stimulus plan does not address any of these fundamental problems or the enormous debt as a result of entitlement programs like Medicare, Social Security, and Medicaid. 

Peter's advice - Buy Swiss franc and Singapore Dollars , stick your head between your knees, and . . . you know the rest.

Information taken from February 2009 Fortune Magazine Article "He Saw it Coming"

YouTube Video : Peter Schiff Was Right 2006 - 2007 (2nd Edition)