Friday, March 1, 2013

Stay away from the Housing Market , there is No Recovery says Peter Schiff

Bernanke Almost Comes Clean On "Exit Strategy" when the FED buys bonds from the US treasury it creates demand deposits on the balance sheet of the Treasury. The FED has a mixed portfolio of US securities like treasuries, MBS and other assets. Any interest gained from these assets is paid out in a 6% dividend to member banks and the rest is given to the Federal Government

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.

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