PETER SCHIFF

PETER SCHIFF

Monday, February 1, 2010

The FED will Monetize the Government Debt that is why Bernanke was reappointed says Peter Schiff

Peter Schiff is in Nassau Bahamas to assist to his friend Mark Skousen anti Davos meeting


In This February 1st 2010 Peter Schiff is in Nassau in the Bahamas , Schiff comments on the Senate vote on the same day to reappoint Ben Bernanke to a second term as The FED Chairman and the increasing of the national debt ceiling by 1.9 trillion dollars , Peter Schiff wonders why did not just increasing it by 2 trillions , but the secret behind was probably that the Senate have learned from the marketing experts that to the public eye 1.9 trillion will look a lot less than 2 trillions , the same trick that is always used in price tags in all supermarkets where instead of a 2 dollars price they will write down $1.99 ....Schiff also points out that these two events did not just happen in the same day by chance , cause the senate very well knows that in order to borrow that kind of money the cooperation of Ben Bernanke is very much needed he needs to keep his presses rolling at full speed 24/7 so that he could buy some treasuries and monetize some of that debt , and also Ben Bernanke needs to keep the interests rates artificially low so that the government could afford to make the interests payment on that debt .....

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