Peter Schiff On The Economic Meltdown Part 5

[1kenkencan]

China doesent have the power to take us gov assets.

[Setzer]

A centrally planned economy can work just look at China. I don't want that to happen though obviously. We should break up the banks, so that we don't have banks that are too big to fail.

[xMaXiMuSx]

@Setzer

China does NOT have a centrally planned econmy.. That's a myth, thier country is run by enterpranuers/

[adulby]

All the things ive been confused on in relation the the crash he is hitting on like he knows me personally. This is so awesome.

[wastedwasted3]

China is only continuing to buy US debt because they know when the US cant pay them back, they will take all the assets of the US

[kessass83]

@wastedwasted3 Partly. They by that debt, because they don't wanna dollar to fall, because all the raw materials, coal, iron ore, oil, food is still priced in US dollar

[eliam1212]

Eminent Domain

If USA can not pay the debt then the

Creditors will liquidate their assets.

If USA can not pay the debt will the government sell already failing States to China and others. Government can exercise this power but the result is Divided States of America (DSA).

Before it was unthinkable but now it is somewhat probable. It's an ugly thought but the Reality hits you in the face.

Hoping this will never happen and what will follow afterwards everyone knows.

[dankeewolnir4042]

okay.... this cant be true, it just makes too much sense. i have to go back to sleep-i mean- reality, now.