By guest contributor Gerald Tay
Yes, it’s Operation Screw all over again. They never learn from the past do they? The same mistakes are repeating all over again. The geniuses at the Federal Reserve have concocted a bold new plan to revive the U.S. economy – print a bunch of money, loan it to Americans at super low interest rates so they can speculate on rising real estate prices, extract the appreciated equity and spend it on consumer goods.
The last time the Fed tried to create a housing bubble to stimulate the economy, it ended in a global disaster. Throughout history, governments have destroyed economies by destroying currencies. Only this time it will be a major currency crisis in the making, with a huge sovereign debt crisis already underway, and more tears and misery globally.
Peter Schiff, one of the few economists who correctly predicted the 2008 …