This is a great interview with Schiff. If you are somehow still unaware how the coming crisis will come you have to listen to this. Schiff also mentions some things that I never thought of. He talks about government debt is worse than debt of a company like Coca-Cola. If Coca-Cola defaults, then the creditors get the company, if the U.S. government defaults the creditors get nothing. Ouch! Some countries (China?) could look at that as an act of war. I hope no one visiting this website holds government bonds.
The interview with Schiff starts about 8:30 into the video.
My own personal thoughts on default and raising the debt ceiling is one big yawn. You are much better off not watching this political theater at all. Walk your dog, kiss your girlfriend, just don’t turn on the TV and watch this current load of bull. Your blood pressure will thank you later. You would be better off reading a book on the Federal Reserve and looking for investments that will protect you against coming default. Time is running out. If you are expecting politicians to figure this whole thing out you are going to look like a big dummy to your grandchildren not yet born. Don’t disappoint them, buy some gold and silver.