Re-inflating price bubbles is insane.Genius my ass....If Baghdad Ben has shown anything, it's that he learned next to nothing about monetary buffoonery that brought about the depression. Peter Schiff has eaten his lunch as the know-nothing he is at virtually every turn.Bernanke is not a foremost genius on inflation. He is a foremost genius on the Great Depression.
Also, ol' Ben has been lying out his ass about the Fed not monetizing the debt.
If we listened to Peter Schiff, we would be in another Great Depression. Raising interest rates now is absolutely insane.
There's a reason banks aren't lending...They can't get any ROI and they have no idea wheter or not some political despot is just going to walk in and void their contracts. Moreover, they all know that everyone else is holding borderline paper.
If the wannabe "genius" Baghdad Ben gave a shit about anything, he'd let the market clear out all the bad paper and quit artificially screwing with interest rates.