Crisis In Iraq Will Hit Oil Prices & World Economy - Peter Schiff

Iraq's largest oil refinery shut down Wednesday amid ongoing fighting between military forces and insurgents with the Islamic State in Iraq and Syria. The Beji refinery accounts for a quarter of the country's refining capacity, and the shutdown showcases how the economic effects of the crisis may quickly spiral. RT's Ameera David discusses the potential economic impacts of the fighting with Peter Schiff, president of Euro Pacific Capital.