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Tag Archives: Federal Reserve

Nobody Knows the “Correct” Fed Policy

Central bankers suffer from what some might call fatal conceit. They actually believe that if they tinker enough, they can come up with a policy that will work “just right.” Maybe we should call it the Goldilocks Syndrome.But the truth is they don’t know.Of course, the Federal Reserve and other central banks have lots of critics — President Trump for instance. After the last Fed rate cut, he blasted Powell and company on Twitter tweeting, “Trump wants the Fed to cut deeper. Trump isn’t...

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Peter Schiff: JP Morgan Indictments Don’t Prove Gold Manipulation Conspiracy Theories

You have probably heard about the JP Morgan traders indicted in a gold and silver market manipulation scheme. The allegations involve “spoofing.” Traders put in buy and sell orders with the intention of canceling them before execution. But creating false impressions of demand, they could potentially move prices and cash in on their own trades. Meanwhile, JP Morgan has accumulated the most significant physical silver position of all-time.Peter Schiff recently appeared on to explain exactly...

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Treasury Bond Backwardation, Report 22 Sep

Something happened in the credit market this week. A Barron’s article about it began: “There have been disruptions in the plumbing of U.S. markets this week. While the process of fixing them was bumpy, it was more of a technical mishap than a cause for investor concern.” Keep Calm and Carry On So, before they tell us what happened, they tell us it’s just plumbing, it’s been fixed, and that we should not be concerned. The article asserts that the reasons for the problem: “…are technical and...

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Peter Schiff Says the Price of Gold Is Going to Take Off! But Why? (Video)

Peter Schiff has been saying that the price of gold and silver are going to take off.But why?Peter isn’t just taking a wild guess or gazing into a mystical crystal ball. He’s basing this prediction on the unavoidable economic consequences stemming from decades of Federal Reserve mechanizations. In s nutshell, the central bank has checked us into a monetary roach motel. Once it entered the current policy there was no way it would ever be able to leave.In this SchiffGold Videocast, Peter...

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Fed Admits Failure of ‘Plan A’ to Control Money Market Rates, Shifts Back to Repos (which was ‘Plan A’ till 2008)

The hullabaloo in the repo market torpedoed the function of Interest on Excess Reserves and forced the Fed to go back to the future. With its announcement this morning, the New York Fed confirmed that the Fed’s Plan A of manipulating the federal funds rate into its target range – now between 1.75% and 2.0% — has miserably failed, and that it will switch to Plan B to control short-term interest rates. But this Plan B was Plan A that the Fed had used routinely to control short-term...

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Fed Mechanizations: SchiffGold Friday Gold Wrap Sept. 20, 2019

It was Fed week. As widely expected, the central bank cut interest rates another 25 basis points on Wednesday. But the real Fed action happened on Tuesday morning and most people didn’t even notice.In this episode of the Friday Gold Wrap, host Mike Maharrey talks about all of the Fed mechanizations – not just the rate cut – and what it all could mean. The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s precious metals news coupled with thoughtful analysis. You...

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Fed Cuts Rates… But What’s Next?

A Pfennig For Your Thoughts September 19, 2019 * Currencies continue to inch higher VS the dollar * BOE meets today, but don’t expect any fireworks…  Good day… And a Tub Thumpin’ Thursday to you! Well… I brought home a winner yesterday, as anyone that knew I was going to game instructed me to do! Not that I had anything to do with the Cardinals win in the day game yesterday! What a great day I had and all my buds that attended the game with me… We got to see a real pitcher’s duel, with...

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Peter Schiff: Whatever the Fed Is Going to Do Will Stink to High Heaven

The Federal Reserve did exactly what the markets expected on Wednesday, cutting interest rates by another 25 basis points.The central bank sent out mixed signals about what will happen next. Markets widely construed the Fed’s messaging as somewhat hawkish. In its policy statement, the Fed said the US economy is growing at a “moderate” rate and the labor market “remains strong. It cut rates, “in light of the implications of global developments for the economic outlook as well as muted...

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Peter Schiff: The Next Crash Could Bring Down the Fiat Money System

Peter Schiff appeared on on Tuesday (Sept. 17) to talk about interest rates, gold and the dollar. Peter said the fiat currency system may not survive the next recession.The conversation started focusing on the repo operations conducted by the Federal Reserve early in the week, Peter said the financial media and Wall Street are being much too complacent about what’s going on.Their instinct is to sweep it under the rug as no big deal, but I think it really is a harbinger...

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Fed’s Powell: No Negative Interest Rates at Next Crisis

The Fed has different priorities than the ECB, the Bank of Japan, the Swiss National Bank, et al. During the press conference today following the FOMC meeting, Fed chair Jerome Powell was asked if and when the Fed would push its policy interest rate into the negative. Powell did not respond with his usual, “we will act as appropriate.” He had a real answer. For months, there has been clamoring from Wall Street and speculators, and from the White House, that the Fed should or would cut...

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