Peter Schiff spoke with Rick Santelli on CNBC earlier today about the Fed’s monetary policy. Of course, the Fed has no intention of actually hitting the unemployment and inflation goal posts it has established, and ultimately the dollar is going to suffer:
“The dollar is actually going down against the euro. Pull up a chart, look at the dollar index. Look at the British pound: it’s almost at a fifty-two week high today. We’re going down against the pound…Look at the price of gold. Look at oil prices. Look at food prices. Ben Bernanke said he doesn’t care how high oil prices go, how high food prices go. He’s going to look beyond that to the value of falling prices that reside somewhere in his fantasy land.”