Friday, March 2, 2012

Peter Schiff : Secret QE3 by the FED ongoing

Peter Schiff : "They're doing QE3 whether they state it or not,"
"If the Fed admits it's printing all this money, then the dollar is going to fall even faster [and] oil will rise even faster. The Fed wants to create inflation, it just doesn't want to be forthright about it."
"The economy is doing lousy," he says, dismissing Wednesday's upward revision of fourth-quarter GDP and declaring inflation as closer to 10% vs. 1%. "The economy is contracting, that's one of the reasons there's no jobs."

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Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.