Peter Schiff on the Fed Announcement of QE3

An incredulous Peter Schiff delivers a vehement harangue of the Federal Reserve and its Chairman, Ben S. Bernanke in this 17-minute monologue.

Schiff calls the Fed’s new policy “Operation Screw.” 

Video below...

“The Fed has checked into the Roach Motel of monetary policy.  It can check in but it can’t check out. It can expand its balance sheet but never shrink it – so the Fed IS spending money; it is spending it on financial assets and in fact the goal of the Fed is to make those assets rise in price,” Schiff says among a slew of other zingers.  

 

Source: Europacmetals.com via YouTube

http://www.youtube.com/watch?feature=player_embedded&v=LS879r7xeLc