Tuesday, December 3, 2019

Destroying Savings Doesn't Create Jobs

What rallies the market is not the rumor of an actual trade deal but the rumors of a phony trade deal - a phase 1 deal which really isn't a deal at all. In fact, to the extent that anybody is even celebrating phase 1, what they really celebrating is that the trade war is over. 

That Donald Trump has basically surrendered without admitting that he has surrendered. In fact a lot of the talk about what the Chinese even need to get the phase 1 deal is for all of the tariffs to be removed. 

Not just cancelling the future tariffs, but to take away all the tariffs that are already there, which, of course would be a relief for the American consumer, who, contrary to Donald Trump's claim, they're the ones who pay the tax - not the Chinese.

- Source, Peter Schiff

Thursday, November 28, 2019

Peter Schiff: It's Bad Monetary Policy Not a Good Economy

We had record high closes today in the S&P 500, the NASDAQ composite; the Dow Jones not quite a new record but still up better than 300 points: 301.13 to be precise. 

Of course, all of the headlines, and President Trump - they're going to be claiming that the reason that we had these surging stock prices is because we had a stronger than expected jobs report. 

We got the October nonfarm payroll that came out this morning and it was better than was expected. You had Larry Kudlow out there talking about how this is a fantastic jobs report. 

It basically shows how we have this great economy; the greatest economy in the history of America, and that's the reason that the stock market is making record highs, because we have this great economy.

- Source, Peter Schiff

Sunday, November 24, 2019

Powell Admits Inflation Is Headed Much Higher

As expected, the Federal Reserve cut interest rates. This is the third rate cut of this cycle. We're now down to 1.5%. 

But of course, what everybody has to remember is a year ago, when the Fed was hiking interest rates, the forecast from the Fed was that they were going to continue to hike rates. 

They were supposed to have another 3 or 4 rate hikes in 2019. And, of course, a year ago, as the Fed was hiking rates, they were still shrinking their balance sheet and they were going to continue to shrink it. They were talking about auto-pilot. 

They were going to continue to do $50 billion/month of quantitative tightening. And they said this with a straight face. And everybody believed them.

- Source, Peter Schiff

Monday, November 11, 2019

Peter Schiff: We've Never Seen Anything Like This Before

Peter Schiff discusses how the Federal Reserve plays an integral role in the economic recessions of the past. 

Peter covers cause and effect, and how different functions of the markets, politics, national debt, and central banks influence and shape the future of the world economy. 

He also gives insight on where he sees the economy heading, and how his prediction is likely to pass in the near future.

- Source, Peter Schiff

Sunday, October 13, 2019

Peter Schiff: The Dollar is Going to Get Killed

Money manager Peter Schiff says, ““It’s more politically expedient to take the printing route, especially because nobody believes they are going to destroy the currency. 

They think they are going to print enough money to reduce the value of the debt enough to make everything go away. 

It’s like trying to get a little bit pregnant, which is impossible to do. So, once they start monetizing debt in that way, then that’s it. The dollar is going to get killed. 

That’s where we are headed. That’s the only thing that hasn’t happened yet. Gold has broken out. Gold is over $1,500 per ounce, and it is hitting record highs in most currencies. 

Not in the dollar, yet. The dollar is still relatively strong against other fiat currencies, but the fact it is this weak against gold shows you there is a lot of underlying weakness in the dollar that has yet to manifest, but that is going to happen. When the dollar starts to fall, that’s going to take the bond market down with it.

- Source, USA Watchdog

Thursday, October 10, 2019

Peter Schiff: How Government Inflated the Student Loan Bubble

As I surmised, when I recorded my podcast on Wednesday, it seems pretty clear that the Federal Reserve has already returned to quantitative easing. 

And that didn't take long, because they just ended QT (quantitative tightening) and they've already begun QE. Although, the Fed is not going to admit that that's what they're doing. 

Apart from proving me right, which was one of my forecasts from the very beginning, even before the Fed was talking about ending QE, I said they could never end it before they even started it.

- Source, Peter Schiff

Sunday, October 6, 2019

Peter Schiff: Gold and Silver Market Manipulation Explained

Peter Schiff discusses JP Morgan precious metals traders charged with manipulating gold and silver futures.

- Source, Peter Schiff

Wednesday, October 2, 2019

Peter Schiff: Gold to Decouple from Treasuries

It was pretty quiet today in the equity markets; the Dow Jones managed to inch up 37 points, closing at 27,219 but, you know, how we're less than 200 points away from a new all-time record high in the Dow Jones.

But the real action today was in the bond market. If you're suspicious on this Friday the 13th, and you were looking for bad luck, that's where you would have found it, if you were long the bond market. 

Now, I've been talking about this bond market bubble for a long time - it's been inflating for a long time. 

Whether or not it's actually popped, well, we'll have to wait a little longer to find out. But the carnage in the bond market that I mentioned on my last podcast has continued, with bonds continuing to suffer.

- Source, Peter Schiff