PreciousMetalsStore's video: Peter Schiff - It s Scary How Clueless Bernanke Is

@Peter Schiff - It's Scary How Clueless Bernanke Is

Peter Schiff: "It's Scary How Clueless Bernanke Is" Oct 15, 2010 01:30pm As expected, Ben Bernanke provided a rational for more quantitative easing Friday, declaring: "Inflation is running at rates that are too low relative to the levels the [FOMC] judges to be most consistent with the Federal Reserve's dual mandate" of price stability and full employment. Predictably, Euro Pacific Capital president Peter Schiff wholeheartedly disagrees with that - and just about everything else Bernanke says. "It's scary how clueless Bernanke is," Schiff says, noting the dollar is at or near record lows vs. several major currencies and commodities from agriculture to zinc are soaring. "That is inflation," he says, dismissing this morning's tame CPI data as hedonically adjusted government fiction. "As money loses value prices are going to rise because you need more diminished dollars to buy goods and services." Moreover, Bernanke's suggestion that more inflation will spur employment growth is the really "crazy thing" in today's speech, Schiff says. "You don't create jobs by creating inflation," he says. "You create jobs by reducing regulation and lowering taxes." A pure libertarian and devote of the Austrian school of economics, Schiff expressed two main concern about Bernanke's policies: One, the government is trying to prop up an economy based on debt-fueled consumption, rather than letting it "restructure," albeit from much lower levels. Two, more quantitative easing will lead to more big government. "What Ben Bernanke is saying to Congress is 'run up the deficits because I'm going to monetize it for you,'" Schiff says. "He is enabling the government to get bigger, which is going to make employment worse, not better. He's throwing gasoline on a fire."

gold silver bullion investment precious metals store peter schiff coins fiat money creation richard daughty mogambo guru bill murphy gata dave morgan jim rogers max keiser ron paul robert kiyosaki gerald celente edward griffin james turk sinclair michael pento economy depression recession dollar devaluation commodities stock market crash federal reserve bank banking doom economic politics news collapse crisis bailout educational finance

PreciousMetalsStore

Subscribers
1.2K

Total Post
204

Total Views
150.4K

Avg. Views
3K

View Profile

This video was published on 2010-10-18 09:25:41 GMT by @PreciousMetalsStore on Youtube. PreciousMetalsStore has total 1.2K subscribers on Youtube and has a total of 204 video.This video has received 92 Likes which are higher than the average likes that PreciousMetalsStore gets . @PreciousMetalsStore receives an average views of 3K per video on Youtube.This video has received 13 comments which are higher than the average comments that PreciousMetalsStore gets . Overall the views for this video was lower than the average for the profile.

PreciousMetalsStore's video: Peter Schiff - It s Scary How Clueless Bernanke Is

Other post by @PreciousMetalsStore