In this video, Peter discusses Warren Buffett’s recent comments about the banking crisis being over and the government’s plan to bail out everything, which comes at a cost of 10 trillion dollars in backstop. He warns that this could put anyone who owns a US dollar at risk, especially given the worldwide momentum to switch to alternative currencies. Peter explains the changes in banking practices, which make it difficult to know who is getting bailed out. He warns that the bailout’s method could be disastrous for anyone who owns dollars, making the dollar worthless.
