peter schiff tells it like it is, page-8

Interesting article but nonsense all the same. We have had massive (paper) wealth destruction and without Fed intervention the world would experience a savage deflationary recession.
What concerns me is our determination to alleviate the consequences of our follies with no action to prevent the same happening again.
We must de-monetise residential housing as an asset class -remove all tax and social security benefits that raise house prices - and replace with Gold.
Funny how house price inflation began in early 1970's at same time the then cleverest people in the room decided to dump gold.