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Peter Schiff, the President and CEO of Euro Pacific Capital, and one of the few who predicted the 2008 Great Recession before it happened has said that what we are experiencing now is “the beginning of the end.” Schiff made his comments during his keynote speech at the Vancouver Resource Investment Conference.

The economic guru says that the Federal Reserve has made the decision to halt interest rate hikes in order to attempt to save the flailing stock market – the key indicator for far too many of how “healthy” the economy is at current. According to Seeking Alpha, the markets responded to the Fed’s decision in a positive manner, leading many to think we are “out of the woods” and no longer in danger of a recession.

However, Peter traces the moves of the Federal Reserve all the way back to the first rate hike of December 2015 and shows how the central bank has put the United States on a path toward a financial crisis that will be bigger than 2008. Peter insists he’s been right about what would happen all along, it’s just taken us a little longer to get to the actual financial disaster than he expected.

“The reason that I originally said that I did not expect the Fed to raise rates again was because I knew that raising rates was the first step in a journey that they could not finish, that in their attempt to normalize rates, the stock market bubble would burst and the economy would reenter recession.
Normalizing interest rates when you’ve created an abnormal amount of debt is impossible.

…click on the above link to read the rest of the article…

Peter Schiff: This Is the Beginning of the End (Video)

February 7, 2019

Peter Schiff: This Is the Beginning of the End (Video)

During his keynote speech at the Vancouver Resource Investment Conference, Peter Schiff said we are at the beginning of the end.

The Fed appears to have paused interest rate hikes in order to save the stock market. The markets have reacted positively and a lot of analysts seem to think we’re out of the wood. But Peter traces the moves of the Federal Reserve all the way back to the first rate hike of December 2015 and shows how the central bank has put us on a path toward a financial crisis that will be bigger than 2008. Peter insists he’s been right about what would happen all along, it’s just taken us a little longer to get here than he expected.

HIGHLIGHTS FROM THE SPEECH

“I have been forecasting that the Federal Reserve would not be able to complete its rate normalization process since before they raised rates for the first time.”

“I still believe if Hillary Clinton won that election, which was widely expected, I think it would have been one-and-done. I don’t think the second rate hike would have taken place had Hillary Clinton won.”

“I think that had Hillary Clinton won, the stock market would have tanked. The conventional wisdom before the election was that if Trump won it was going to be a disaster for the stock market, but if Hillary Clinton won, the market was going to like it. Well, Trump won and the market went way up, the opposite of what was expected. I believe that had Hillary Clinton won, the market would have gone down. Also the opposite of what had been expected. And I believe the US would have entered recession much sooner.”

…click on the above link to read the rest of the article…

Peter Schiff: This Is the Beginning of a Much Bigger Crisis (Video)

January 11, 2019

Peter Schiff: This Is the Beginning of a Much Bigger Crisis (Video)

Wall Street has been on a roller coaster ride over the last few months. If you listen to the pundits on the financial networks, you’ll hear the word “volatile” used over and over again. That word certainly seems to describe the current state of US stock markets and in a broader sense the economy. But during a recent interview on RT News with Rick Sanchez, Peter Schiff said it’s not that the economy is volatile. It’s actually a bubble. And we are on the verge of a bigger crisis than the one we went through in 2008.

It’s not a volatile economy, it’s a bubble economy. Thanks to the Federal Reserve, they inflated an even bigger bubble, on purpose, than the one they inflated by accident that popped in 2008. And so the economy is in much worse shape structurally today then it was before it fell apart the last time. So, this is the beginning of a much greater crisis, of a much greater recession than the one that we experienced back in 2008.”

Sanchez asked Peter what exactly the Federal Reserve did wrong. Peter said, basically, everything.

But the biggest things they did wrong were lowering interest rates down to zero, practically, and leaving them there for pretty much the entirety of the Obama presidency. And then they’ve barely raised them. They’re still at 2%, which is very low. They also did all the quantitative easing where they printed a bunch of money and bought US government bonds and mortgage bonds. That enabled the housing bubble to reflate, and that enabled the US government to go much deeper into debt. So, the government didn’t cut spending, which is what we needed. They increased spending. But it also enabled corporations to lever up and buy stocks.

…click on the above link to read the rest of the article…

Peter Schiff: If The Fed Doesn’t Hike Rates Today, They’ll Never Hike Again

December 19, 2018

Peter Schiff: If The Fed Doesn’t Hike Rates Today, They’ll Never Hike Again

Peter Schiff believes that the next stop for interest rates heading into 2019 is going to be directly back to 0%. And in a new podcast, Schiff warns that he believes it is going to be QE4 that finally causes the dollar to collapse.

“The Fed will announce another rate hike tomorrow most likely,” Schiff says.

“I think that if the Fed hikes rates, there is a very high probability that its the last hike in the cycle. That should remove a headwind from gold.”

He continued, “If the Fed doesn’t hike rates tomorrow, they’re never hiking them again.”

In addition to this, Schiff also talked about the price of oil, which tanked into the mid $40 range during trading on Tuesday. Schiff anticipates that another round of quantitative easing and continued inflation will eventually cause the price of oil to move higher. He’s bullish on the commodity and bullish on other commodities that are priced in US dollars for the same reason.

Schiff spoke about the price of gold and why he believes the commodity hasn’t been able to catch a bid despite the unrest in the equity markets and among central bankers. On the podcast, he discusses how he believes the volatility in the crypto space has taken away from gold catching a bid for the time being.

Schiff also addresses long time CNBC bitcoin bull Brian Kelly who, earlier this week, casually revealed that he had been net short the cryptocurrency after years of pumpish “analysis” on it, as well as other alt-coins, when there was nary a skeptical point to be made and the price of Bitcoin was a mainstay on the CNBC screen at all times.

…click on the above link to read the rest of the article…

Peter Schiff: “The American Standard Of Living…It’s Going To Collapse”

December 12, 2018

Peter Schiff: “The American Standard Of Living…It’s Going To Collapse”

Market analyst and financial guru Peter Schiff says that the United States economy is headed for a disaster. In a recent interview, Schiff said that when the dollar goes away as a reserve currency, so will the American standard of living.

Schiff says the U.S. is flexing more muscle than it has. After the arrest of Huawei chief financial officer, Meng Wanzhou, a Chinese businessman who is accused of violating U.S. sanction laws, the Chinese are already planning economically destructive ways to reduce the dollar’s influence and power.

“The dollar, having the reserve currency, that status is in jeopardy. And I don’t think the world likes giving America this kind of power that we can impose our own rules and demand that the entire world live by it. So, I think this has a much bigger and broader ramifications other than what’s going on in the stock market today. I think long-term, this is going to undermine the dollar and its role as a reserve currency. And when that goes, so does the American standard of living because it’s going to collapse.” –Peter Schiff

Schiff added that he thinks China is in a much better position than many are willing to admit.

“People think we have the upper hand because we have this huge trade deficit with China. But I think it’s the other way. I think the fact that they supply us with all this merchandise that our economy needs, and the fact that they hold a lot of our bonds and continue to lend us a lot of money so we can live beyond our means, they’re the ones, I think, that call the tunes and we have to dance to it.” –Peter Schiff

…click on the above link to read the rest of the article…

Peter Schiff: “The Truth Is We Don’t Have A Booming Economy”

November 8, 2018

Peter Schiff: “The Truth Is We Don’t Have A Booming Economy”

Peter Schiff doesn’t mince words when he declared the precarious state the United States economy has found itself in. As SHTFplan.com’s Mac Slavo notes, Schiff says “the truth is we don’t have a booming economy,” and he’s not the only one who has noticed.

October was the worst month for global equities in more than six years. Globally, stock markets lost 7.5%, their worst month since May 2012. Even with the late rally, it was the biggest monthly decline in the Nasdaq since 2008.

“All of the bulls were out in force on the financial networks claiming that the correction is over. Everybody was confident that the lows are in, that the big back-to-back rally is proof and you better buy now, otherwise you’re going to miss the rally, and this is the typical correction and now it has run its course. And you know what? If this really was the end of the correction, most likely there wouldn’t be so many people that were so confident that it’s over. You’d have a lot more fear, especially on Halloween. The fact that there is no fear, to me, shows that it’s more likely that this is not the end of the correction, but the beginning of the bear market and that this rally is a correction.” –Peter Schiff via Seeking Alpha

Schiff is well-known for predicting the 2008 financial crisis, but that becomes slightly more real when hearing him say that the job market if a gigantic bubble. Schiff says that jobs are just one more bubble that’s about to burst.

Two hundred thousand jobs a month in an economy the size of ours, especially given how few people, or what a large percentage of the workforce is not working, we should be creating a lot more than 200,000 jobs per month. But we’re not.”

…click on the above link to read the rest of the article…

Peter Schiff: The Rising Interest Rates Will Collapse The Stock Market

October 30, 2018

Peter Schiff: The Rising Interest Rates Will Collapse The Stock Market

Economic guru Peter Schiff is sounding more economic alarms. This time, without mincing words, he says that the Federal Reserve’s raising of the interest rates will cause a stock market collapse.

Euro Pacific Capital CEO Peter Schiff and Steven Quirk, the executive vice president of TD Ameritrade’s trader group discussed the Federal Reserve’s impact on the stock market and whether corporate earnings can help the market make a comeback.According to Fox News, Schiff’s assessment was none too calming. “[The Federal Reserve] should raise rates, but the market is going to collapse as a result,” he told FOX Business’ Liz Claman on Monday.

Schiff also said that investors should expect a long drawn-out bear market with the cost of living rising to dramatic levels. “This bear market is not going to end quickly,” he said.

The latest China-U.S. tariff threats have spooked the markets, driving the Dow Jones Industrial Average to a more than 900-point swing from session highs to lows today. The index clawed back some of its loses in the final hour of trading, closing 245 points lower, or nearly 1 percent, at 24,443. The S&P 500 fell to 2,641, about 0.65 percent, and the Nasdaq Composite was down 1.6 percent at 7,050.29.

The CBOE Volatility Index, Wall Street’s “fear gauge,” has jumped an estimated 87 percent since the close of the market on Sept. 28, 2018. –Fox News

Quirk says that there’s no end to October’s fear in sight, but they aren’t signaling armageddon either. “[Investors] are not optimistically saying this is going to bounce right back, but they are also not saying this is the end of the world,” he said on Countdown to the Closing Bell.

…click on the above link to read the rest of the article…

Peter Schiff: The Dollar And American Standard Of Living Will Be ‘Biggest Casualties’

October 25, 2018

Peter Schiff: The Dollar And American Standard Of Living Will Be ‘Biggest Casualties’

The United States economy is about to crash and it will take the dollar and the American standard of living with it. Peter Schiff, who currently serves as the CEO of Euro Pacific Capital, says it is time to prepare for the global market crash in light of the recent downturn.

“All the signs are already there. Look at what’s happening out there. The stock market is falling, 40 percent of the S&P is already in a bear market. Look at homebuilders, the housing stocks, the financials, the retailers – all these are the same things that were happening in 2007 leading to that crisis,“ Schiff, who accurately predicted the 2008 recession, told RT America. We don’t have much time left in this economic bubble if Schiff is correct.

After the dramatic early drop, U.S. stocks recovered but still finished lower after a wild day on Wall Street. By the closing bell, the Dow was down 126 points, or 0.5 percent, recovering most of its early losses. The Nasdaq closed down 0.4 percent, while the S&P 500 shed 15 points, finishing 0.6 percent lower. Schiff urged people to be prepared for not only an economic crisis but a political crisis as well with the current administration likely to take the blame.

According to Schiff, the US national currency is set to meet with the worst losses along with the American standard of living. Although the Trump administration is to blame for the trade war that is already wreaking havoc on American’s wallets, Schiff says the political crisis about to follow will be much worse.

…click on the above link to read the rest of the article…

Peter Schiff: The Next Economic Crash Will Be “Far More Painful” Than The 2008 Recession

October 15, 2018

Peter Schiff: The Next Economic Crash Will Be “Far More Painful” Than The 2008 Recession

Euro Pacific Capital CEO Peter Schiff is sounding the alarm after this week’s market selloff, saying Wall Street and the U.S. economy are on the verge of a recession.

“I think as Americans lose their jobs, they are going to see the cost of living going up rather dramatically, and so this is going to make it particularly painful,” Schiff said.

“This is a bubble not just in the stock market, but the entire economy,” he told Fox News Business.

Schiff is predicting a recession, accompanied by rising consumer prices, that will be “far more painful” than the 2007-2009 Great Recession.

As SHTFplan.com’s Mac Slavo notes, President Donald Trump blamed the recent stock market woes on the Federal Reserve and the rising of interest rates.

“I think the Fed is making a mistake. They’re so tight. I think the Fed has gone crazy,” Trump told reporters on his way to a rally in Pennsylvania on Wednesday.

Trump said that the United States’ central bank is solely responsible for the worst stock market selloff since February, saying the Federal Reserve “has gone crazy.”

Schiff said it isn’t entirely the Fed’s fault, however, because they have been acting “irrationally” for a very long time while slowly adding nails to the economy’s coffin.

“What is crazy is for the Fed to believe that they can raise interest rates without pricking their own bubble,” he said.

“All bear markets start off as corrections. I think this one is probably a bear market. It’s long overdue,” Schiff said on FOX News Business.

Schiff said investors are on the edge of a precipice that foresees a bear market far worse than the stock market crash of 2008.

…click on the above link to read the rest of the article…

Peter Schiff Explains “What Happens Next” In 47 Words

October 12, 2018

Peter Schiff Explains “What Happens Next” In 47 Words

Outspoken critic of The Fed and one of the few that can see through the endless barrage of bullshit to how this really ends, has laid out in a tweet “what happens next”…

Likely sequence of events:

1. Bear market;

2. Recession;

3. Deficits explode;

4. Return of ZIRP and QE;

5. Dollar tanks;

6. Gold soars;

7. CPI spikes;

8. Long-term rates rise;

9. Fed. forced to hike rates during recession

10. A financial crisis without stimulus or bailouts!

h/t @PeterSchiff

People Will Be Dumping Dollars & Buying Gold – Peter Schiff

October 4, 2018

People Will Be Dumping Dollars & Buying Gold – Peter Schiff

Money manager Peter Schiff was in a small group warning of a coming financial meltdown that happened in 2008. Schiff says, “I was kind of a fixture on financial cable TV giving these warnings. My thought was the bubble would burst, and I knew that it would. Once the housing bubble burst and we had this financial crisis, I knew it would follow along with the Great Recession. I thought the Federal Reserve would try the best it could to reflate the bubbles in the stock markets and housing markets. But my thought was that their efforts would fail. The markets would not allow it and that a dollar collapse would intervene and would prevent new debt from being issued to fully reflate those bubbles. I was actually wrong. They didn’t just try to reflate the bubbles, they actually succeeded in blowing them bigger than ever.”

Ten years later, Schiff is warning of another financial calamity bigger than the last one. Schiff says, “The problem is now we are on the precipice of a much bigger crisis than before. The next time, if they try to reflate those bubbles, which they will, it will be a spectacular failure because the markets are now prepared for the opposite. Everybody, right now, assumes the Fed is going to be able to keep raising rates. They assume they are going to shrink its balance sheet and that we have this booming economy that will never bust. When the Fed has to reverse course abruptly, acknowledge the underlying weakness that everybody has been oblivious to and they start cutting rates and launching another round of quantitative easing (money printing), I think the dollar is going to fall through the floor. I think the inflationary fires that are already burning pretty hot are going to ignite.

…click on the above link to read the rest of the article…

Peter Schiff: The “Trump Tariff Put” on the Stock Market Is Worthless

September 25, 2018

Peter Schiff: The “Trump Tariff Put” on the Stock Market Is Worthless

Just because you’re a Republican, you don’t have to claim that anything that’s done by another Republican is great in order to make the Democrats look bad. Because ultimately that comes back and bites you because you lose all credibility when the economy turns down and you’ve been gushing over how great it is and how successful the Republican president is. And when it turns out it was just a bubble, it was just an illusion and when the bubble bursts and the illusion is replaced with a harsh reality, well you’ve got nothing and it makes it easier for the other side to scapegoat capitalism for the problems and hold out more government as the solution.”

Nevertheless, the markets are going up. One of the reasons is the so-called “Trump tariff put.” The idea is that Trump will keep an eye on the stock market and the economy, and if the tariffs actually start to have a negative impact, he can just soften his stance and perhaps even lower the tariffs. That will rescue the stock market and everything will be fine.

…click on the above link to read the rest of the article…

Peter Schiff: ‘We Are Seeing A Lot Of Warning Signs’ Of A Financial Crisis

August 16, 2018

Peter Schiff: ‘We Are Seeing A Lot Of Warning Signs’ Of A Financial Crisis

Just like the financial crisis of 2008 which investor Peter Schiff accurately predicted, there are warning signs again that are being ignored. “We are seeing a lot of warning signs people should be worried about, but again they’re dismissing them, much the way they did 10 years ago,” Shiff said.

Schiff is known for his “doom and gloom” market predictions, yet he’s been spot on in the past. And our current debt-based system is unsustainable to the point that asevere global economic crisis is imminent – we just don’t know when the global bubble will burst. Once again, Schiff is trying to warn people, because the signs are there, but who’s listening?

“We’re seeing a lot of warning signs people should be worried about, but again they’re dismissing them, much the way they did 10 years ago. You know, we’re getting close to the 10-year anniversary of the 2008 financial crisis. Remember, the whole thing started in August of 2008. Here we are August 2018, 10 years later. I think we’re heading for an even bigger crisis and the same people are even more clueless.” –Peter Schiff

A big problem that could compound the next financial crisis is one Schiff continues to point out: Americans are flat broke. Wages have been stagnant especially in the face of inflation. Rising interest rates will also harm those already living paycheck to paycheck. There are a lot of people buying stuff on credit. In fact, the entire economy is built on working-class debt and a system which transfers wealth to the elites from the workers.

…click on the above link to read the rest of the article…

Schiff: “The Next Crisis Is Not Going To Look At All Like 2008

August 5, 2018

Schiff: “The Next Crisis Is Not Going To Look At All Like 2008

Peter Schiff is an economist who served as an advisor to Ron Paul in 2008 and even made a run for Senate on his own at one point. He’s well-known in the “Austrian” as well as the libertarian economic community, but is perhaps best known for his belief that our next coming crisis is going to be “an order of magnitude larger than the crisis in 2008”, only this one, the Federal Reserve is not going to be able to print their way out of, Schiff predicts in his most recent interview.

“What the Fed is worried about is a repeat of the 2008 financial crisis. What they don’t realize is the next crisis is not going to look like the 2008 crisis,” Schiff said.

He makes the why the dollar going up in 2008 helped the Fed bail everyone out, and why it’s going to be impossible for the Fed to do the same thing when the dollar collapses during the next recession. Schiff also explains that a loss of confidence in the dollar as the world’s reserve currency could see interest rates move much higher, resulting in the U.S. defaulting on its debt.

Despite getting the 2008 housing crisis right, Schiff’s appearances in the mainstream financial media have declined precipitously due to his bearish outlook. As an alternative, he has created a substantial voice for himself on his YouTube channel, which boasts hundreds of thousands of subscribers.

On Saturday, August 4, Peter Schiff appeared on the Quoth the Raven podcast to talk about a multitude of topics, including:

Why the mainstream media doesn’t have him on anymore, despite predicting the 2008 financial crisis production dead-on
Why the government should have let more banks fail in 2008
Why he believes that a socialist will be elected in 2020 and why a libertarian may actually have a chance in 2024

…click on the above link to read the rest of the article…

How To Best Prepare Yourself For The Coming Financial Crisis

June 20, 2018

How To Best Prepare Yourself For The Coming Financial Crisis

Many financial analysts believe the United States economy is in a dire situation. Peter Schiff, who accurately predicted the 2008 recession has come out and declared we will all live through another Great Depression, only this time, it’ll be much worse than before. But there are ways to prepare for such an event, and we’ve gathered some helpful tips and tricks to help make the process a little more smooth.

“The bad news is, we are going to live through another Great Depression and it’s going to be very different. This will be in many ways, much much worse, than what people had to endure during the Great Depression…This is going to be a dollar crisis.”

“When you are talking about the magnitude of the debt we have, that extra money [raising interest rates] is big. That’s going to be a big drain on the economy to the extent that we have to pay higher interest to international creditors…a lot of this phony GDP is coming from consumption, while the average American who is consuming is deeply in debt and they are going to impacted dramatically in the increase in the cost of servicing that debt…given how much debt we have, and how much debt is going to be marketed the massive increase in supply will argue for interest rates that are higher.” -Peter Schiff

According to Financial Times, it is becoming clear that the global monetary policy is now caught in a debt trap of its own making. Continuing on the current monetary path is ineffective and increasingly dangerous. But any reversal also involves great risks. It stands to reason that the odds of another crisis blowing up continue to rise.

…click on the above link to read the rest of the article…

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