The federal government is now monetizing 150 percent of the annual budget deficit, when you look at what they are buying in mortgage backed securities and treasuries. This is the highest ever.
So the government is more addicted and more dependent on QE than it ever was. And not only they cannot take it away, they will have to increase it.
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
Dec 11, 2013
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