Peter Schiff: Obama Doubles Down on The Fed

Got to love this:

Obama proposes to entrust the critical job of “systemic risk regulator” to the Federal Reserve, the very organization that has proven most adept at creating systemic risk. This is like making Keith Richards the head of the DEA.

The whole thing is worth a read.

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We know a great deal nowadays about the sort of things which the economic system will do. We even know a great deal about what it means if we see the economic system do particular things. But we do not know enough and never shall know enough to be able to say what it will do tomorrow. — F. A. Hayek

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