Rick Santelli spoke with Peter Schiff this morning about the performance of gold and what investors should expect from Janet Yellen’s press conference later today. Both Rick and Peter get a good rant in about the horrendous policies of the Fed.
“All Janet Yellen and Ben Bernanke have succeeded in doing is reflating the bubbles in the stock market and the real estate market, but that adds to our structural problems. It doesn’t solve them. These malinvestments are actually inhibiting legitimate economic growth… We are misdirecting resources into speculative activities on Wall Street. We’re overbuilding in housing… We’re not doing real legitimate capital investment, we’re not investing in plant and equipment, we’re not producing more products, we’re not creating good jobs. We’re just blowing air into a bubble.”
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