Anti Money Laundering Regulations Costing Americans Jobs

Peter Schiff on FOX Business News 8/13/12 : ...instead of somebody in Australia sending their money to me here in America I now have them send it to me in a foreign country and so now I create jobs and revenues offshore that would have been created here and in Merrill Lynch obviously it is a bigger example , if Merrill Lynch can no longer compete on a leveled plain field for asset management business in emerging markets , where is the growth is going to come from ? Americans are losing wealth....


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.