Fed Already Insolvent & Will Only Get Worse – Peter Schiff

KW: Herewith another view of what is happening in the markets right now via Greg Hunters USA Watchdog. Money manager Peter Schiff is not surprised the stock market is way off its highs for the year. Schiff explains, “The crazy part was the markets going up. What makes sense is it coming back down. The Fed was really playing a game of how many straws it could put on the camel’s back before it breaks it. Each time they raised interest rates, it was another straw. I postulated on one of my podcasts that the last rate hike that the Fed put through was the rate hike that would break the camel’s back. The camel being the markets and the economy, and I think that’s exactly what happened.”

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