Peter Schiff : well, yeah, that's why the FED didn't ask the banks to stress test a big drop in the bond market because that's what's coming, and the banks would feel that. but you know, you've got Ben Bernanke. look at what he said last week on Thursday. he gave a lecture to students at George Washington university and he basically absolved the federal reserve of any responsibility for the housing bubble. He basically said that interest rates have nothing to do with the housing problem which is absurd because right now the fed is keeping interest rates artificially low because Bernanke is trying to prop up the housing market. he's trying to prevent housing prices from falling. so how is it that interest rates affect home prices now but they did not do it when the FED was inflating the housing bubble I mean either Ben Bernanke is lying or he is incompetent -
in CNBC
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Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.
