Peter Schiff: 'Creeping Communism' Arises From World's Central Banks Read more: Peter Schiff: 'Creeping Communism' Arises From World's Central Banks Important: Can you afford to Retire?

A government takeover of capitalist economies may result from the expanded role of central banks in controlling the direction of free markets.

That’s the prediction of Peter Schiff, the president and CEO of Euro Pacific Capital Inc. who has criticized the Federal Reserve for distorting markets and pushing investors into high-risk investments. The central bank has held interest rates near zero percent since 2008, when the U.S. economy declined the most since the Great Depression.  Read more