Peter Schiff recently appeared on Real America with Dan Ball to talk about the ongoing banking and financial crisis. Peter emphasized that the Federal Reserve and the US government are trying to fix a problem that they caused. And their cure is going to unleash an inflation tsunami.
Peter Schiff appeared on Real America with Dan Ball to talk about the bank bailout, the unfolding financial crisis, the Fed and inflation. He said this is a sequel to 2008 and like all sequels, it’s going to be worse.
In the wake of two major bank failures, Federal Deposit Insurance Corporation (FDIC) deposit insurance effectively went to infinity. And there is no reason to believe it will be temporary.
As Silicon Valley Bank and Signature Bank were toppling, the government rushed in to guarantee 100 percent of both banks’ deposits. It was touted as an emergency measure to maintain confidence in the banking system and prevent runs at other banks. In effect, it bailed out wealthy depositors at two failing banks.
