Peter Schiff, Debut Guest on RT's Prime Interest w/Perianne Boring (Lauren Lyster's Replacement), Apr. 30, 2013Submitted by AnCapMercenary on Thu, 05/02/2013 - 20:33
Peter Schiff's Prescription for Monetary Rehab, and the Secrets of Wartime Spending
Published on Apr 30, 2013
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Welcome to our very first show! Here's what's in your Prime Interest today:
Good news, America! The Treasury is in the green -- if only temporarily. The government said Monday it would pay down $35 billion of its $16.8 trillion debt this quarter. For this, we can thank higher than expected tax receipts. But don't hold your breath, because the Treasury expects to plunge back into the red next quarter to the tune of $223 billion, and that's with the Fed buying about 60 percent of that amount. Don't worry, though, because, per Chairman Bernanke, this is NOT monetization. We talk about deficits and the debt crisis with Peter Schiff.
And to mark another milestone, it's been 100 days since the President's second term. In a press conference this morning, he warned of Syria's probable use of chemical weapons. While cautioning that more evidence must be gathered before taking action, he did warn the regime has crossed the "red line." We take a look into the fine print of military spending in a special segment today.
Also, Walmart wants to get into banking. A three year moratorium imposed by Dodd-Frank will expire in July, allowing purely commercial firms to own industrial loan companies and other limited-purpose banking charters. Perianne and Bob discuss the revolution in the payments system in today's Daily Duel.