Peter Schiff reacts to Operation Twist

Peter Schiff : the FED does not care on how much damage it does on the long run , the FED is acting very politically and it is trying whatever it can to try to boost the economy ahead of the 2012 elections , so its latest brain storm is that it concluded that the problem with the US economy is that interest rates , long term interest rate are just not low enough despite the fact that they have never been this low in our life time , the yield on the ten year is 1.875 % that's it , the 30 year is down to 3.039% , we nmever had interest rates so low , the economy is a mess interest rates are as low as they have ever been and the FED's conclusion is 'If we could just get them a little lower that's going to do the trick and the economy is going to turn around "