Relevant:
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- Peter Schiff: Gold Fools Shouldn't Be Selling
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2012-07-27 — kingworldnews.com
Schiff also added: "The Fed has already begun QE3 in a stealth way, but they are going to have to publicly come to the rescue of the economy with QE3. The Fed has come out and said, ‘We're only going to do more QE if the economy needs it.' That's like a heroin addict saying, ‘I'm only going to take more heroin if I need it.'
We know the economy is going to need more QE because that's its life blood. This phony economy lives and breathes cheap money, and that's what it needs to sustain it. And if the Fed wants to sustain this consumer-led borrow and spending binge, it can only do it if it continues to dole out the cheap money.
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