Peter Schiff had a friendly conversation with Rick Santelli this morning on CNBC’s Squawk on the Street. They discussed how the Fed’s quantitative easing has become uncontrollable and why this will make the next crisis even worse than the last.
“I think eventually you’re going to see a real attack on the dollar and the US Treasury market and the Fed’s ability to maintain artificially low interest rates without destroying the dollar… Eventually the Fed is going to lose control of this. And I think the biggest danger is when you start to see the bond market and dollar selling off simultaneously. You throw in a rally in gold and that’s basically the triple threat – you’ve got all the warning bells that the end is near.”
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