Leading Fed critic Peter Schiff to counter Bernanke lectures
It’s the monetary policy version of “Point/Counterpoint.”
Leading Federal Reserve critic Peter Schiff will give his own lecture Thursday in Washington to counter a four-lecture series on the financial crisis by Fed Chairman Ben S. Bernanke that wraps up earlier in the day.
Schiff, president of investment firm Euro Pacific Capital, will give his talk -- “The Fed Unspun: The Other Side of the Story” -- at the Reason Foundation, a free-market think tank. The lecture is cosponsored by the FreedomWorks Foundation, a grass-roots education group aligned with the tea party.
Just like Bernanke’s lectures at George Washington University, Schiff’s speech will be live-streamed on the Internet at www.facebook.com/FreedomWorks.
“While Chairman Bernanke explains to students how the Federal Reserve ‘saved the economy,’ Peter Schiff will outline the ways in which the Federal Reserve contributed to the housing crisis and current economic recession in the first place,” FreedomWorks said.
Schiff warned of troubled times in his 2007 book, “Crash Proof, How to Profit From the Coming Economic Collapse,” and wrote in a Times opinion article in early 2008 that the government should let the housing market hit bottom to facilitate a quick recovery.
He has been outspoken about his belief that the Fed’s actions during the crisis and since will lead to hyperinflation, calling the central bank the single biggest factor in creating the crisis in the first place.
Bernanke will give the last of his four lectures starting at 9:45 PDT Thursday to a pair of undergraduate classes at the George Washington University School of Business. Schiff’s counter-lecture will be at noon PDT.
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