"What's happening in Greece and what's happening in Puerto Rico is going to happen in the United States," says investment guru and radio host Peter Schiff, CEO of Euro Pacific Capital.
"Once the Greek creditors began to question the solvency of Greece they demanded higher interest rates," Schiff explained during a recent interview with Reason's Matt Welch. "The minute our creditors figure out we are in the same position as Greece or Puerto Rico, they're going to demand higher interest rate from us and we can't pay either."
About three and a half minutes.
Hosted by Matt Welch. Edited by Joshua Swain. Cameras by Meredith Bragg and Paul Detrick.
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