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Tag Archives: Federal Reserve

What Can’t Go On Forever Doesn’t: SchiffGold Friday Gold Wrap June 12, 2020

The Federal Reserve met this week and promised to keep pumping out monetary stimulus indefinitely. Meanwhile, the US government added another trillion dollars to the national debt in just 35 days even as the president and congressional leaders talk about more fiscal stimulus. In this week’s Friday Gold Wrap podcast, host Mike Maharrey talks about the ramifications of all this endless stimulus and reminds us that what can’t go on forever, doesn’t. He also covers the week’s ups and downs in...

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The Fed’s Monetary Hail Mary

Despite the better than expected employment report last week and constant chatter about a quick economic recovery, the Federal Reserve has no intention of rolling back what Peter Schiff called its “monetary Hail Mary.”The Fed wrapped up its June Federal Open Market Committee (FOMC) meeting on Wednesday, holding interest rates steady at 0-.25%. Nobody expected the central bank to make any significant policy moves. The real questions revolved around what kind of forward policy guidance the...

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Yale Economist Warns of Dollar Crash

Peter Schiff has been warning that that real crash will be a dollar crash. Now, some people in the mainstream are starting to sound that alarm as well.Even before the coronavirus pandemic, Peter was warning about the dollar’s demise. During an interview on last September, he warned that America’s “fiscal profligacy” was going to sink the dollar.What has enabled this over the years has been the world’s willingness to hold US dollars as the primary reserve currency and to continue to loan...

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Peter Schiff: How to Avoid Getting Wiped Out by the Inflation Tax

Peter Schiff recently appeared on Mark Dice’s show to talk about the looming financial crisis. Peter explains why a dollar crash is on the horizon and what the average person can do to keep from getting wiped out by the inflation tax.In the months leading up to the 2008 financial crisis, Peter warned it was looming. Today, he is warning about the far greater financial crisis that is going to finally result from the giant bubble that the Federal Reserve and government policy pumped up in...

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Peter Schiff: Silver Is Poised to Set Records

Last week, Peter Schiff appeared on to talk about precious metals and the state of the economy. He said not only are the economic dynamics bullish for gold, but silver is also poised to break records.At the time of the interview, gold and silver prices were both under pressure as the stock market continued to rally due to optimism for a quick recovery as governments begin lifting coronavirus restrictions. Peter noted that there was selling in most safe-haven markets,...

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The Fed’s Mission Impossible

The markets were giddy Friday after a much better than expected jobs report boosted optimism for a quick v-shaped recovery as the economy opens back up. But in his podcast Friday, Peter Schiff poured some cold water on this notion. He said given the amount of stimulus that the Federal Reserve and the US government have pumped into the economy, unwinding it all will be mission impossible.Friday’s Labor Department unemployment report was a real shocker. Analysts expected...

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Stock Market Bubble X.0: SchiffGold Friday Gold Wrap June 5, 2020

The economy has gone through the quickest and arguably the deepest collapse in history, but the stock market has been rallying. How can this be? In this episode of the Friday Gold Wrap podcast, host Mike Maharrey says look no further than the Federal Reserve. Despite the economic chaos, it has managed to blow up stock market bubble X.0 He also talks about a move China recently made that ups the ante in the “war on cash.”The SchiffGold Friday Gold Wrap podcast combines a succinct summary of...

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Peter Schiff: The Rising Stock Market Is Not a Sell Signal for Gold

US stock markets continued their inexplicable rally despite the economic destruction wrought by the coronavirus-induced shutdown. The S&P500 is only down about 3.5% on the year and the NASDAQ is actually up. As a result, a lot of investors seem to be getting out of safe havens, including gold. But in his podcast, Peter Schiff explains why selling gold is a mistake if you understand what’s really going on. In a nutshell, stocks are rising because the Fed is printing money. And no matter...

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If It Was Game Over for the Fed Then Where Are We Now?

In a speech at the Cambridge House Vancouver Resource Investment Conference back on Jan. 19, 2020, Peter Schiff said it was “game over” for the Federal Reserve. It’s interesting to look back at his remarks in context with what’s going on over at the central bank today. If it was game over then, where are we now? Peter opened the speech by pointing out that going into 2019, everybody expected the Fed to raise interest rates three times.Well, they got the number right. The Fed did move...

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Peter Schiff: It’s the Nancy Pelosi Version of Monetary Policy

On Friday afternoon, Federal Reserve Chairman Jerome Powell did a Q&A session with Princeton economist Alan Blinder. Powell admitted that the central bank had “crossed a lot of red lines,” but insisted he was comfortable with the actions given “this is that situation in which you do that, and you figure it out afterward.”In his podcast, Peter Schiff called it the Nancy Pelosi version of monetary policy. “We need to print the money to see where it goes.”Binder asked...

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