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Peter Schiff - How to Tell When Bernanke is Lying

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Uploaded on Feb 10, 2011

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The Treasury auctioned of 24 billion dollars of ten year notes. This came at the same time that bonds sold off for the seventh straight day. Peter Schiff has been critical of Bernanke. He said that it was easy to tell when Bernanke was lying: anytime his lips were moving. Bernanke said he was taking great pains to not distort the bond market, but that is exactly what he wants to do. He says that the reason that there is inflation in emerging markets is that there is economic growth over there. But economic growth doesn't cause prices to rise, usually it is the opposite. The reason that there is price inflation over there is exactly because of what Bernanke is doing over here.

Bernanke says that if you look at food and energy, the prices are only going up by 1% per year. Where does Bernanke buy his groceries and gasoline? Those prices are going up much more than 1% per year. The best way to protect yourself from what Ben Bernanke is doing is to buy gold.

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