By Tom Winnifrith | Sunday 7 August 2016
There are several reasons the world economy is unsustainable within the current systems according to my hero, the libertarian Gold bug Peter Schiff. We have featured Peter several times here in recent weeks - see HERE. He believes the biggest factor is countries like the US which have huge deficits. They have low production rates requiring mass imports of goods in exchange for pieces of paper that are losing their value. This forms imbalances which destabilize the global economy. There are also enormous amounts of bonds and unfunded liabilities which creates vulnerability to a backup in interest rates. If rates go up, they can’t afford to pay.