Peter Schiff Explains The Federal Reserve . Peter Schiff mocks the Fed with 'the idea' of exporting prosperity via printing endless money (debt) to the rest of the world! Peter Schiff explains the origins of money,The crisis in the 20's was caused by the federal reserve creating too much credit. The free market only allocates credit to where it belongs. Its weird that so many Americans don't understand principal difference between free market capitalism and state led capitalism or communism. They should really study a little bit of economy to see what makes usa the greatest country in the world .Obama may take the average Joe for a schmuck and try to pass off the US Economy as being in fine fettle but we know better and so too does Peter Schiff who unpicks the President's (recent and possibly last) Fantasy State of the Union Address.