Mr Schiff talks about Obama's new banking regulations to 'separate' the banking system's elements into various government-defined segments. He details how Obama is wrong about what caused the current crisis, because the irresponsibility of the bankers was a symptom of the real cause, not the real cause itself, which was of course the government's intrusion into the free market via the machinations of the Federal Reserve and its artificially low interest rates. He claims that Obama is stoking up an even greater crisis with his 'solutions'.
The Duke also discusses the moral hazard of government insurance and why it stops bank account holders from caring about what banks do with their money (or indeed, why it forces banks to take risks in order to compete with the riskiest banks, which would otherwise win all consumer business - as the Icelandic banks did with many British consumers).
The moral hazards and interventions of government, via banking insurance, bailouts, and reckless interest rate suppression, are making things far worse and will lead to even greater bank failure in the future, especially as the American government has now turned many previously uninsured investment houses, such as Goldman Sachs, into commercial government-insured banks.
To finish off, Schiff discusses how changing economic conditions in China are going to eventually rebound with an even weaker dollar.