NEW YORK - August 24, 2010 - Peter Schiff, famous for issuing warnings ahead of the recent U.S. property crash, doesn't have kind words for the recent U.S. Treasury rally.

"The bond market is the mother of all bubbles right now and I think when it bursts the losses will dwarf the combined losses of the stock market bubble and the real estate bubble. The problem is that there is no way for the government to pay things back, the only way it could do that would be by tax increases, which (is a horrendous solution) and would never be accomplished. This decade will be the worst decade for bonds in U.S. history," said Schiff.