Peter Schiff: Anti Money Laundering Regulations Costing American Jobs

“…instead of somebody in Australia sending their money to me here in America I now have them send it to me in a foreign country and so now I create jobs and revenues offshore that would have been created here.  And in Merrill Lynch obviously it is a bigger example; if Merrill Lynch can no longer compete on a level playing field for asset management business in emerging markets, where is the growth going to come from? Americans are losing wealth..”

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