Monday, May 23, 2016
Last week, Trump joined CNBC's "Squawk Box" to discuss a wide range of topics including U.S. debt, interest rates and replacing Fed ChairJanet Yellen. It was Trump's comments about potentially renegotiating the more than $19 trillion in U.S. debt and the sensitivity surrounding higher interest rates that raised eyebrows.
While some observers argued that Trump's approach could betantamount to a debt default, Schiff told CNBC the GOP nominee was fundamentally correct in his observation.
"Trump just admitted on CNBC that America has too much debt to afford a rate hike, and that he wants our creditors to accept less than 100 cents on their Treasuries," the Euro Pacific Capital CEO explained on CNBC's "Futures Now" last week. "In other words, Trump knows a U.S. government default is inevitable."
Last year, the widespread belief that the Federal Reserve would tighten monetary policy unsettled markets. Recently, soft economic data and turmoil around the globe have softened expectations of a rate hike. Still, Schiff said an eventual rate hike could leave the world's largest economy exposed to a growing risk.
"If rates go up, refinancing [debt] doesn't help. The only thing that helps is restructuring," said Schiff, who compared the situation to the crisis in Puerto Rico.
The commonwealth "can't pay because they
Tuesday, May 10, 2016
Friday, May 6, 2016
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Saturday, April 30, 2016
The Dow closed above 18,000 on Monday for the first time since last July - but unfortunately that news isn't as positive as it sounds. Stefan Molyneux and Peter Schiff discuss the massive cracks in the world economic system, corporations defaulting on their debt, Saudi Arabia
Peter Schiff is an economist, financial broker/dealer, author, frequent guest on national news, the host of the Peter Schiff Show Podcast, the CEO of Euro Pacific Capital and the
at 7:38:00 AM
Wednesday, April 27, 2016
Sunday, April 24, 2016
On CNBC's "Futures Now" recently, Schiff said that Wall Street firms, and Goldman Sachs in particular, which have issued bearish calls on the commodity for some time, are too pessimistic on gold's upside. The investor insisted those firms are missing the big picture when it comes to
"They are still wedded to the old narrative. They still expect the Fed to raise rates three times this year. They will believe in this phony recovery. They still expect the dollar to continue to go up and they're wrong," the CEO of Euro Pacific Capital said. Goldman "is just as sure that gold is going to collapse now as they were back in December.
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Thursday, April 21, 2016
This explosive interview is no different and sees Harry lose his cool.
Who will be proven right is still yet to be seen, only time will tell.
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