This Phony Economy is Unraveling: Peter Schiff Reports 2/2

Schiff: Fed Will Turn To QE3 In Failed Bid To Prevent Economic Depression




Bernanke set to crank up printing presses once again

Paul Joseph Watson
http://www.infowars.com/
http://www.infowars.com/schiff-fed-will-turn-to-qe3-in-failed-bid-to-prevent-...
Thursday, September 22, 2011

Although mainstream financial analysts are all but certain that Ben Bernanke will now refrain from launching a third round of money printing, economist Peter Schiff told CNBC today that the unfolding global depression will force the Fed to resort to QE3 in a failed effort to prop up the plunging stock market.

The Dow tumbled and Standard & Poor's 500 Index sunk below its lowest close of 2011 in response to the Federal Reserve's announcement yesterday that it saw "significant downside risks" in the economy and would embark on a program to replace $400 billion of short-term debt with longer-term Treasuries.

Speaking with CNBC, Euro Pacific Capital Inc's Peter Schiff said the collapse was another indication that a global depression was already unfolding, "An extended period of time where the markets are going to deliver returns that are much less than the real rate of inflation."

Despite many economists hastily proclaiming that QE3 is now off the table, Schiff made it clear that today's market reaction only made it more inevitable that Ben Bernanke would once again turn to the printing presses in a desperate bid to keep the ponzi scheme ticking over.

"I think we'll go through a period of time where markets go sideways though for now we'll keep falling until the fed caves in and gives the market what it wants which is more QE. It is the wrong policy but the fed always gets it wrong so I don't know why this time will be any different," said Schiff.

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[IronicallyVague]

As always Peter Schiff is a light in the darkness

Thank you Mr Schiff

[thedailydigestorg]

Peter is the only one, besides glozell1, that can out-talk Alex, and make sense at the same time.

[Aurinkohirvi]

You need jobs if you want to cut down well-fare. The poor people cannot create jobs. They van't affort to educate, they can't invest. Everything they have goes to getting the necessary things.

If you don't have jobs for people and cut down well-fare, you have rise of crime (because that's the only way they can make extra money) and finally they will revolt, nationalize  and redistribute property.

[indignant99]

Peter, Peter, Peter. You mispronouncing fool. BER-NACKY ???? LAR-GRESS ???? Get a damn dictionary.

[budstattfgangsta]

you are right get the fuck off and push some time if we take it the wagon then we are bad fuck the rich some of them they time is almost over this shit have to chance

[mouthpiece200]

@StratusBlue Speculation isn't harmful fo commerce. The speculator risks only his own wealth, and in doing so deserves the profits he gets.  But well said otherwise.

[cpgone]

@DaMasterandCommander Start at 5% a year, with 5% year in reduced military/gov. spending for at least 5 years.,10% flat tax......BUT it wont happen. No group will give up ANYTHING.

Crash is 100% guaranteed.

[DaMasterandCommander]

20% tariff on chink goods, trillions of dollars in surplus from imported goods in less than 1 week. End of deficit. Then sign an executive order fucking wall street and the bankers in the ass with the fraudulent derivative debt in excess of 600trill. Null and Void.

There is a start to the end of enslavement.

[StratusBlue]

Influence buying, accomplished via union leadership's applied duress to members and monopoly control of productivity applying duress to employees,

and speculative activity

are the primary domestic enemies of the USA..

"Foreign influence is the bane of Republican gov't".

G. Washington

[StratusBlue]

So taxes ARE REGULATION that benefit IF that is their purpose.

Obama must hang for war crimes, complicity in 9-11 AND MISAPPROPRIATION of funds.

But we do not list misappropriation of funds first.

Honest government is not optional.