Peter Schiff discusses the FED disclosure on RTSubmitted by the clover helix on Sat, 12/04/2010 - 04:10
Good video (with brief article) of Peter telling it like it is (as usual).
“We have to have market forces disciplining the credit markets,” comments Schiff. “We can’t have the Fed coming to the rescue with a printing press every time somebody gets in trouble.” Schiff argues that the credit saved Wall Street bankers and their bonuses, not the economy. He forecasts a sovereign debt crisis plus a currency crisis to occur within the next several years.
“The American economy and American people are going to suffer much more because of these bailouts than what would have happened if there were no bailouts.”
Schiff says the dollar hasn’t collapsed yet because it’s still being propped up by foreign central banks. He brings up Russia and China taking another step away from the US dollar.