{"id":47808,"date":"2019-08-15T08:25:02","date_gmt":"2019-08-15T13:25:02","guid":{"rendered":"https:\/\/olduvai.ca\/?p=47808"},"modified":"2019-08-15T08:25:11","modified_gmt":"2019-08-15T13:25:11","slug":"peter-schiff-the-world-will-drown-in-an-ocean-of-inflation-gold-is-going-ballistic","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=47808","title":{"rendered":"Peter Schiff: The World Will Drown in an Ocean of Inflation; Gold Is Going Ballistic"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\"><a href=\"https:\/\/schiffgold.com\/peters-podcast\/peter-schiff-the-world-will-drown-in-an-ocean-of-inflation-gold-is-going-ballistic\/\">Peter Schiff: The World Will Drown in an Ocean of Inflation; Gold Is Going Ballistic<\/a><\/h3>\n\n\n\n<figure class=\"wp-block-image\"><a href=\"https:\/\/1mo0o3e03f7c59k045fwasgb-wpengine.netdna-ssl.com\/wp-content\/uploads\/2016\/07\/gold-bar.jpg\"><img decoding=\"async\" src=\"https:\/\/1mo0o3e03f7c59k045fwasgb-wpengine.netdna-ssl.com\/wp-content\/uploads\/2016\/07\/gold-bar.jpg\" alt=\"\"\/><\/a><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">The gold market took a one-two punch on Tuesday as Trump made some concessions in the trade war and inflation numbers came in a bit higher than expected. Peter Schiff talked about it in his latest podcast, saying gold traders still don\u2019t understand the gold rally.<\/p>\n\n\n\n<figure><iframe loading=\"lazy\" src=\"https:\/\/www.youtube.com\/embed\/JvqTiiqCrZE\" width=\"560\" height=\"315\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Stock markets surged as gold and silver dropped after US trade representatives said they would delay some of the additional tariffs recently announced by President Trump. The Dow closed 372 points higher. Meanwhile, the price of gold dropped below $1,500 briefly before rallying back above that key number.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Gold actually began selling off before the trade war news when the Consumer Price Index number came in hotter than expected. Peter said he knew that would happen.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>That is the way the lemmings trade, because according to the conventional wisdom, if inflation is higher, then the Fed will be less likely to cut rates. After all, they\u2019re cutting rates because inflation is too low and if inflation comes in hotter, well, then there\u2019s less of a reason for the Fed to cut rates. So paradoxically, higher inflation is seen as being bad for gold. And the reason I\u2019m saying paradoxically is because gold is an inflation hedge. Normally, the more inflation the more you want to buy gold.\u201d<\/p><\/blockquote>\n\n\n\n<p class=\"wp-block-paragraph\">Peter said investors are banking on the Fed fighting inflation, but they\u2019re wrong.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>There is no way the Fed is going to fight inflation. I don\u2019t care how high it is \u2026 One of these days the traders have to realize that these numbers don\u2019t matter. I mean, maybe they matter to the public who has to live with a rising cost of living. But they don\u2019t matter to the Fed. The Fed is going to take rates back to zero no matter what these numbers are, because the economy is going into recession even as inflation rises.\u201d<\/p><cite><br><\/cite><\/blockquote>\n\n\n\n<p class=\"wp-block-paragraph\">&nbsp;\u2026click on the above link to read the rest of the article\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Peter Schiff: The World Will Drown in an Ocean of Inflation; Gold Is Going Ballistic The gold market took a one-two punch on Tuesday as Trump made some concessions in the trade war and inflation numbers came in a bit higher than expected. Peter Schiff talked about it in his latest podcast, saying gold traders [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[1055,963,647,21879],"class_list":["post-47808","post","type-post","status-publish","format-standard","hentry","category-economics","tag-consumer-price-index","tag-peter-schiff","tag-precious-metals","tag-schiff-gold"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/47808","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=47808"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/47808\/revisions"}],"predecessor-version":[{"id":47809,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/47808\/revisions\/47809"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=47808"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=47808"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=47808"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}