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July 17, 2012

Central Banks Are Postponing Short-Term Pain

All the central banks are trying to prevent economies from restructuring along the lines that would produce lasting, healthy, sustainable growth. We’re all going to pay a price for this reckless behavior.

All they’re concerned about is postponing short-term pain, even if it’s a healing type of pain. It’s the equivalent of swallowing some bad-tasting medicine that cures us. But because the cure doesn’t taste good, they don’t want us to have to take it. - in Index Universe

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.
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