Peter Schiff - Low interest rates are financing Wall Street and destroying the Dollar

Peter Schiff - FOX Business News 09 Aug 2011

Peter Schiff : The FED did not do nothing , they did something unprecedented in committing to keep interest rates practically to zero for another two years , One of the biggest problems for the US economy is that rates are too low and by keeping them low for another two years we are going to delay any real recovery , I predicted that QE2 won't work and I said that as soon as they stop the Quantative Easing the economy will be back into recession and the reason we are in recession is because of the stimulus that preceded it , and what is the FED doing , rather than allowing the market to heal and the economy to re-balance they are trying to shoot back up with more stimulus , this is going to sink the dollar it is going to rob Americans of their purchasing power ...the DOW actually lost value in terms of the Swiss francs