Peter Schiff : The Markets are Whistling past a Graveyard








"I think the reason the market is going down is because the Fed pricked the bubble. The Fed raised rates," Peter Schiff, the head of Euro Pacific Capital told CNBC's "Futures Now" in a recent interview. Schiff is a fierce critic of the central bank, which he believes has done more harm than good with its accomodative monetary policy.

"We are trying to rationalize it by pretending what's happening in the U.S. stock market has to do with factors beyond our control…so people can continue to pretend that everything is fine, that we have a legitimate recovery, the Fed can continue to raise interest rates and everything is going to be great," he added.





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