Bernanke States "We're Done" Concerning Quantitative Easing - Peter Schiff Says Don't Believe It

SIC SEMPER TYRANNIS!!!
Mark Matheny
June 23, 2011

Many in the financial markets and in society may believe the recent announcement by the Fed when they stated that they are basically going to suspend the plan of rescuing the economy through the "quantitaive easing" measures they've been pushing. One economist not buying the Bernanke Spiel however, is Peter Schiff, CEO of Euro Pacific Capital.

Peter Schiff believes QE3 is  not only going to come (as surely as God made little green apples), but that it too will fail to bring any recovery to our economy.




One of the main reasons for his argument is that the printing of money, or monitization on debt is actually what is causing the problem. He argues that the Federal Reserve is primarily responsible for the delay in any recovery that could have been hoped for if proper measures had been taken,  such as raising interest rates, and allowing the housing market to bottom out, in order to allow for a true reading in economic sectors that would give a real analysis of  the market conditions, and with that, real reform on a governmental level, where the real cuts in spending are drastically needed.

Peter Schiff also believes that "Helicopter" Ben Bernanke knows the tragic results of his "quantitative easing" policies, having this to say when asked if Bernanke just might be ignorant of exactly how to steer a rocovery:

"... I think that... I give him a little bit more credit, I think he kind of knows..., you know if you played that clip he's stammering, he studders when he talks. He looks very nervous to me. He looks like a guy who's hiding something... he's afraid that someone is going to find out.."

What he's afraid we might find out is that it's not an accident that we are in a severe economic tailspin that will result in a crash - a crash by design.

The other subject brought up in the interview was the fact that the Head of Pimco is predicting that Greece will basically fall, and that they will default on their debt as a nation. Peter stated that Greece should restructure it's debt, and that without a bailout, it will happen. He believes however, that Greece will more than likely recieve another bailout. Peter blaims alot of the bailout policies on political leaders and representatives who are only concerned with re-election.

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