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Peter Schiff: Fed’s Response To Coronavirus Is Just “Delaying The Day Of Reckoning”
Peter Schiff: Fed’s Response To Coronavirus Is Just “Delaying The Day Of Reckoning”
Peter Schiff appeared on the Quoth the Raven podcast (iTunes, Spotify, YouTube) on Friday, where he and host Chris Irons discussed the impact of the coronavirus on the economy, gold, bitcoin and why he thinks the Fed is not going to be able to stop the upcoming collapse of the financial system. Here are a couple of Schiff’s thoughts from the interview and a link to the full podcast.
Schiff on Gold
“I’ve never seen a less loved bull market in gold than the one we have now,” Schiff says. “The gold traders are so afraid of this rally, they don’t believe in it, they think gold is going to fall any minute now. Meanwhile, we just keep on rising.”
Schiff says in the past, when you don’t see gold miners confirm the rally in gold that it could be a harbinger of bad news. But “gold just keeps rising” Schiff notes, despite that. “I was buying more gold stocks on Friday. I thought it was just an incredible opportunity to increase an allocation that I already had.”
“I don’t think there’s any real money yet” in gold, he says. “There’s day traders in there. But I don’t think you’ve seen pension funds or endowments make any strategic shift into mining stocks,” Schiff says.
“The physical buyers of gold are basically safe haven buyers. When you’re in an environment where central banks are printing money, if you really just want to play it safe, if you want to be out of stocks and out of bonds, what do you buy? You buy gold. You buy real value. Real money.”
…click on the above link to read the rest of the article…
Peter Schiff On Today’s Sell Off: The Fed Is “Lying”, Rates Are Going Back To 0%, Gold Is Going To $2,000
Peter Schiff On Today’s Sell Off: The Fed Is “Lying”, Rates Are Going Back To 0%, Gold Is Going To $2,000
On a day where it looks as though the Fed’s bullshit “magic potion” may finally be wearing off on the stock market, Peter Schiff joined Chris Irons on the Quoth the Raven Podcast to speak about today’s market move: what it means, whether it can continue and how he would position himself going forward.
Schiff began by talking about the trade war between China and the United States escalating. He talked about why he believes the US dollar was weakening on Monday and why he believes the dollar will continue to weaken for the foreseeable future.
“We’ve been in a recession,” Schiff says.
“The election of Trump just delayed the inevitable for a little,” he continued.
“My thinking is the market was going down regardless of the cut they got,” he said, talking about last week’s rate cut.
“You can’t say the dollar is strong when it’s lost $30 against gold in one trading day. Gold tells you we have a weak dollar.“
He continued, talking about Jerome Powell’s press conference last week:
“Powell contradicted himself several times, which is something that you do when you’re lying. The Fed is not telling the truth.”
Schiff predicts that interest rates are going back to 0% and that the Fed will start QE yet again.
“Powell’s trying to pretend it’s because of concerns about the overseas economy. It is really the US economy that is driving the Fed. That’s why this is just the first step on the road back to zero. And you know, it was a mistake when the Fed went back to zero the last time; it’s going to be an even bigger mistake when they do it next time. And they’re also going to go back to quantitative easing.
…click on the above link to read the rest of the article…
YouTube Bans Dave Collum’s “Conspiracy Theory” Podcast For “Violating Its Hate Speech Policy”
YouTube Bans Dave Collum’s “Conspiracy Theory” Podcast For “Violating Its Hate Speech Policy”
Over the weekend, we published a write-up about Cornell professor and long time Zero Hedge friend Dave Collum appearing on the Quoth the Raven podcast to share his views about a wide range of conspiracy theories, ranging from 9/11 to the Las Vegas shooting.
The appearance was prompted by a recent tweet Collum put out, in defense of being a conspiracy theorist. The Tweet sparked a massive social media response and outpouring of reactions, both pro and con.
I am a “conspiracy theorist”. I believe men and women of wealth and power conspire. . If you don’t think so, then you are what is called “an idiot”. If you believe stuff but fear the label, you are what is called “a coward”.
On the podcast, Collum and host Chris Irons tapped into every major conspiracy theory over the last couple of decades, as well as several current events and the world of finance. Topics included, but weren’t limited to:
- Why Collum thought Jeffrey Epstein could have been working for “powerful people” and “setting people up”
- Why Collum didn’t buy the mainstream 9/11 narrative
- The Las Vegas shooting details and questions about whether there was only one shooter
- Negative interest rate policy across the globe and central banking effects on the global economy
The article and the interview challenged the mainstream consensus on a number of items, which is why it should surprise absolutely nobody that, by Tuesday morning, YouTube had removed the video because – as it said with little certainty – it “thought the video violated the company’s hate speech policy.”
Collum himself responded jokingly in a Tweet Tuesday morning:
…click on the above link to read the rest of the article…
