Wall Street Will Be Blindsided by Currency Crisis (Video)
Peter Schiff begins hist latest video blog with a review of December’s dismal jobs numbers and the latest data that reveal how poor the supposed US economic recovery really is. He then explains why Janet Yellen will soon be facing a bigger crisis than Ben Bernanke had to deal with when he first took charge of the Fed in 2006.
The monetary policies pursued by Bernanke were far more reckless than the ones pursued by Greenspan. And therefore, the bubble is much bigger. And therefore, the damage to the economy when it pops will be much bigger… We’re going to have another crisis early in the Yellen term that will be bigger than the crisis that we had early in the Bernanke term. Wall Street and government are equally as prepared – they will be equally blindsided.”
[youtube http://www.youtube.com/watch?v=myyRksPJe8I&w=640&h=360]
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Amen! Hit the nail square on the head. When gold raises from the ashes, it will do so in leaps and bounds. Any comments on Emerging Markets crisis?