The Fed Is In A Corner

"The Fed will be in a situation shortly where it has to choose between the dollar and everything else - the economy, the stock market, the real estate market—because if the Fed continues with the tapering as scheduled, and then begins to raise interest rates, we will have a worse financial crisis than in 2008.

We’ll have a big drop in the stock market, a big drop in the real estate market. All the banks that they bailed out in 2008 will fail again. Only this time there’s not enough money to bail them out, because they’re so much bigger. Everybody is going to be entering into this crisis with a lot more debt than they entered the last one." - in ETF.com


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.