Peter Schiff appeared on CNBC Asia last night to talk about the possibility of a bubble in the housing and stock markets. He also stressed that it doesn’t matter whether the Fed sells its Treasuries or allows them to mature for the Treasury to sell – either way, the bond market will be devastated.
“What you have is a lot of speculators taking cheap money from the Federal Reserve and gambling on real estate… When interest rates rise…the air is going to come out of this bubble. Beneath the surface, the real fundamentals of the economy continue to deteriorate.”
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