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Peter Schiff Video Blog - April 3, 2012 (FOMC Minutes, Bernanke's Road Show, Obama's Speech)

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April 03, 2012 – Comments (2)

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#1) On April 04, 2012 at 1:35 PM, kdakota630 (29.49) wrote:

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#2) On April 04, 2012 at 8:16 PM, rfaramir (29.27) wrote:

My attempt at notes, not really a transscript:

 

traders think era of cheap money is over just because the Fed signals that another QE is not immediately in the offering.

They did NOT close the door to QE. They are prepared to launch it if the economy needs it. They just don't think it needs it today, so they say. But the only thing the Fed has is QE (Twist IS QE 2.5).

Smart money will "be fading this trade". Fed may be lying or putting up an illusion. Or totally incompetent: Fed was so blind its study coudn't see the housing bubble, even just 2 years from its top. Ben says cheap money didn't even contribute to the bubble.

Ben said interest rates have no impact on housing prices. But he was already doing his thing IN ORDER TO HELP THE HOUSING MARKET. So he's obviously a liar.

Visit http://www.facebook.com/PeterSchiff for complete debunking of all Ben's false claims.

Fed has done a lot of damage under Bernanke and Greenspan. No wonder Greenspan defends Bernanke, Ben is just expanding on Alan's policies, like Obama is expanding on Bush's bad policies.

"Draconian cuts" under the Ryan plan? The budget continues to rise, and it won't balance. Not until 2040 WITH cooperation of future Congresses. Yeah, right. At least the Ryan plan pretends to get there, but Obama doesn't even pretend to try. Gut the middle class? hardly. Armegeddon for the economy and the dollar will come from the Obama budget, and barely delayed by Ryan's. Why not actually propose real cuts?

Buy his book. 

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