Hi everyone. Here is an interesting video that I came across on YouTube. I am quite surprised that the US Congress even bothered to invite Peter Schiff to testify, but I think it was a very smart move and I sincerely hope they take his recommendations to heart. Here is what Mr. Schiff had to say about this testimony:
Dear Friends and Supporters,
As many of you know, last week I was invited to Washington to testify in front of the House of Representatives Subcommittee on Government Reform and Stimulus Oversight. For that, we can thank Subcommittee Chairman Jim Jordan (R-OH).
The subject of the hearing was job creation in the United States – specifically, what the government can and can’t do to boost employment. While many people have asked me in the last few days why I even bothered to participate, I think it was a valuable experience. I don’t expect that anything I said will make an immediate impact on policy, but at least some of my opinions got a fair hearing in the halls of power.
After the testimony, I did have a few one-on-one meetings with open-minded Congressmen from both sides of the aisle. Maybe they were just being polite, but they had no obligation to talk to me, or even invite me, in the first place. So, I thank them for the opportunity.
Still, I don’t think those few open minds in the Capitol are going to be enough to keep this ship from sinking. There just isn’t enough time or a strong enough will for reform from the American people.
That is why it is so important for you to act individually to protect yourself and your family from the new age of stagflation. Please take the time to view my testimony, understand the problems we face, and align your investments accordingly.
The video at the top of this posting is a condensed version of the full testimony. If you wish to see the full testimony video look below (warning: it is over 2 hours long):