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"Ben Bernanke Has Never Gotten Anything Right," Peter Schiff Says: Fed Officials Respond

Posted Nov 26, 2009 09:00am EST by Aaron Task in Newsmakers
Related: ^DJI, ^GSPC, SPY, TBT, TIP, GLD, FXI
Putting Peter Schiff on a panel with St. Louis Fed President James Bullard and former Fed Vice Chair Alan Blinder is asking for trouble or, at the very least, a heated debate.

That's just what occurred last Sunday night in New York at an event sponsored by Princeton's Business Today.

Predictably, Euro Pacific Capital's Schiff disagreed with Bullard and Blinder on just about everything, including the government's role in causing the crisis, and the outlook for the economy and the dollar.

But the most contentious moment came toward the end of the evening when a student asked the panel to comment on Ben Bernanke's 2005 "global savings glut" theory, and what role China's high saving rate played in the credit bubble.

Schiff's response, "Ben Bernanke has never gotten anything right," generated some guffaws from the crowd and a sharp retort from Blinder and Bullard, who rose to Bernanke's defense.

Check the accompanying clip for more and don't miss our earlier coverage from the event:

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