Fast Money's Tim Seymour Mocks Peter Schiff's Ignorance About Interest Rates

Added: Sep 2, 2010

Author: SchittReport

Duration: 1:21

Most 1st year economics students know that interest rates and the Fed funds rate are set by the Fed. Emm, maybe thats why its called the "Fed" funds rate? Also, that the Fed's main charter is to set interest rates? Tim Seymour laughs mockingly in the background with a "You must be kidding me, idiot" look, while Peter Schiff spews his ignorance. Tim also points out that Peter Schiff has been parroting the same ignorant viewpoint for the past 6 months (actually about 5 years) and that nothing has happened. Peter, have you heard of a place called Japan by any chance - where the Central Bank (BOJ) sets interest rates - and that interest rates have been close to 0% for over 20 years? Funny how charlatan Schiff can label himself an "economist" and "financial predictor" when he dosen't even have an understanding of the most basic economic or finance concepts.

Channel: Comedy

Views: 1599