C-SPAN: 'Peter Schiff Calls Out The Fed For Creating The Prior & Next Crisis'

Source:C-SPAN- Libertarian economist Peter Schiff.

"Peter Schiff at The Atlantic's Economic Summit in Washington D.C. in 2012." 

From Peter Schiff

I agree with Peter Schiff on one thing: (which is a lot for me) interest rates in America are artificially too low. With all the debt and the trillion-dollar budget deficit, interest rates would probably be around 10% today and perhaps inflation as high, because of all the money that the U.S. Government is borrowing. Assuming the Congress and the Administration didn't do a damn thing about the budget deficit. 

But because the Federal Reserve controls the interest rates by themselves, Congress and The White House can say that they don't have to address the budget deficit or even pay for new government spending, because the interest rates are so low. 

You want to do real deficit reduction and perhaps put the government in a place where we can talk about balanced budgets again, like in the mid and late 1990s, let's have real interest rates in this country again, like we did in the late 1980s and early 90s.