Also, the fiat system artificially balloons the financial services portion of the economy. In the 19th century, fortunes were made more often by business owners than simple equity investors. People were more likely to rewarded for providing a productive service than having direct access to the Fed's discount window. - in Investment News
Related, Financial Select Sector SPDR (ETF)(NYSEARCA:XLF), Bank Of America (BAC), JP Morgan (JPM), Citigroup (C)
Peter Schiff`s comments on the economy, stock markets, politics and gold. Schiff is the renowned writer of the bestseller Crash Proof: How to Profit from the Coming Economic Collapse.