Peter Schiff, chief executive and chief global strategist at Euro Pacific Capital, tells Reuters that the United States faces an imminent debt crisis that will make Europe’s problems look a “sideshow.”

“I think the sovereign debt problems in America are much bigger than the ones in Europe, collectively,” Schiff says. “I think it’s very imminent. In fact, if it weren’t for the problems in Europe, it would probably already be here.”

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