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Artificially Low Interest Rates? So what?

The Federal Reserve has held interest rates artificially low for decades. Even after pushing rates to zero in the wake of the 2008 financial crisis, “normalization” only managed to raise rates to 2.5% — hardly “normal.”  The central bank began cutting rates in 2019, even before the coronavirus pandemic.But what difference does it make? Why do artificially low interest rates matter? Peter Schiff explains in this clip from his podcast.In the first place, artificially low...

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Peter Schiff: What’s Going on With the Price of Gold?

Gold has been rangebound of late, bouncing between $1,750 and $1,800 an ounce for several months. Given the inflationary environment, one would expect gold to be soaring. So, what’s going on with the yellow metal? And when will the price of gold go up? Peter Schiff tackled this question during a recent Q&A session on YouTube.First, Peter pointed out that you have to step back and look at the big picture. If you go back to 2000, the price of gold was at the bottom of...

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Peter Schiff: There Is Only One Type of Inflation

When talking heads and politicians talk about inflation, they tend to make distinctions between “food inflation,” or “energy inflation,” or “wage inflation.” In this clip from his podcast, Peter Schiff explains that this isn’t the right way to look at inflation. In fact, there’s only one type of inflation. And the Federal Reserve is the source of it.They always have some kind of word that they want to use to preface inflation. But that really just lets the Federal Reserve off the hook for...

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What’s the Difference Between Naturally and Artificially Low Interest Rates?

We know that the Federal Reserve pushes interest rates artificially low by manipulating the federal funds rate (the target interest rate that commercial banks borrow and lend their excess reserves to each other) and using monetary policy maneuvers such as quantitative easing. But could we have low interest rates without Fed intervention? In this clip, Peter Schiff explains the difference between artificially and naturally low interest rates and how the Fed messes up the economy with its...

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Peter Schiff: The Debt Ceiling Is Really a Debt Floor

We have a temporary truce in the debt ceiling fight. On Thursday, President Biden signed a bill increasing the federal debt limit by $480 billion. But this isn’t an end to the debt ceiling fight. Congress just kicked the can down the road. The increase is only expected to keep the US government solvent until Dec. 3.As Peter Schiff explained in this clip from his podcast, the debt ceiling has turned into a debt floor.Janet Yellen has already announced the Treasury will...

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Peter Schiff: Government Serves Grade-A B.S. on Inflation

Both the Federal Reserve and the Biden administration continue to insist inflation is transitory. And they are also trying to shift the blame for rising prices so they avoid any responsibility. In this clip from his podcast, Peter Schiff explains why the government inflation narrative is Grade-A B.S.!The Fed has finally acknowledged that inflation is running hotter than they’d expected. During the September FOMC meeting, the central bank raised its forecast, anticipating...

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Peter Schiff: Jerome Powell Rewrites Inflation History

During his Jackson Hole speech, Federal Reserve Chairman Jerome Powell rewrote the history of inflation. In this clip from his podcast, Peter Schiff unravels the yarn that Powell spun.In a nutshell, Powell claimed prior Fed policymakers mistakenly moved too fast to address inflation that turned out to be transitory, and he said he didn’t want to make the same mistake.In the first place, none of the “mistakes” Powell described occurred when interest rates were at...

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Jerome Powell’s Bad Economics

During a Q&A with students and teachers, Federal Reserve Chairman Jerome Powell praised the bad economics that drove the government response to the coronavirus pandemic. In this clip from his podcast, Peter Schiff breaks down everything Powell got wrong.During the Zoom event, Powell went out of his way to praise Congress for passing the “CARES Act.” The Coronavirus Aid, Relief, and Economic Security Act was the first $2.2 trillion stimulus plan Congress passed in response to the...

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Jim Grant: The Fed Is Playing With Fire

Dallas Federal Reserve President Robert Kaplan has been one of the more hawkish Fed members. On Aug 11, he said the Fed should announce a quantitative easing taper in September and begin slowing asset purchases in October. But two weeks later, Kaplan backed off that assertion, saying that with the surge of COVID-19, he was open to adjusting his view. In an interview on CNBC’s “Squawk Box,” financial analyst Jim Grant explained why the Fed is playing with fire.In an earlier interview with...

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Fed Monetary Policy Hides Risk

The Federal Reserve has pumped trillions of dollars into the economy through its quantitative easing programs. This has generated a surge of inflation. But there are other less obvious impacts from the Fed’s extraordinary monetary policy. It conceals risk. Everybody sees a “booming” economy and assumes everything is fine. But underneath, the entire thing is rotting from the inside.If we look closely, we can see the signs of misallocation and malinvestment in the economy.For instance, look...

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