Do you know about - Peter Schiff Warns Mortgage Bankers Part 6 of 8 (2006)
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Peter Schiff Warns Mortgage Bankers Part 6 of 8 (2006) Tube. Duration : 9.95 Mins.We had a good read. For the benefit of yourself. Be sure to read to the end. I want you to get good knowledge from Today Mortgage Rates . For the latest Peter Schiff, go to PeterSchiffBlog.com - People were using their houses for collateral for their increased consumption. People figure that the Fed can simply cut rates when the asset class begins to fall in price. But that doesn't work. Once money begins to flow out of an asset class, that money is coming out. In the early 80s, we were able to turn the economy around by raising interest rates up to 20%. Can you imagine what it would be like if interest rates were even half that? Every financial institution would instantly seize up. Government create inflation by creating money. The incentive for the politicians to keep printing money is irresistible. It is the same problem that afflicted Argentina and Germany. If we have inflation, then it won't much matter if you have a million dollar home if your grocery bill is 000 every week. The demographics of today are similar to what they were in the 1980s and 1990s. People want to explain that the price of housing is going up because a lot of new people are moving into these areas where real estate is booming. But if you look at California, you will see that the population has actually decreased in several lucrative areas. If you have your assets in Euros, Australian dollars, or other places around the world, then you'll have a much better chance of preserving your wealth when real estate prices collapse so that you can then buy properties for extremely low prices. Harvard says that the greatest threat to the ...
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