Peter Schiff Gets Cut Off On CNN International

Peter Schiff was being interviewed live on C.N.N. just now about the current state of affairs, and he really gave his opinion clearly and without reservations.

He mentioned that he opposed the bailout, and would let failing corporations like AIG and CITI simply fail because "there´s a reason they failed"

"We should also not promote public spending or boost the economy, this is exactly why the U.S. economy failed in the first place. We have been spending way too much on credit and have had others pick up the bills we cannot possibly pay back".

He went on to say that Americans should create and save instead of spend.

On and on, hard truth after hard truth. The moment he started to make comments about the Federal Reserve system and why their policies have brought the U.S. where it is today, he was cutoff in midsentence (complete screen went to colored bars) leaving the interviewer baffled for about five seconds after which she went on to mumble "Technical difficulties" and jumping right on the good news of todays market recovery.

Business International, CNN live around 21:00 local time (GMT+1) 06:00 DST 11-24-08

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