In his latest episode, Peter Schiff reacts to the first presidential debate and Donald Trump’s missed opportunities to put Hillary Clinton on the defensive about paid maternity leave, government mandates, profit sharing, and the Federal Reserve.
One of Trump’s biggest opportunities was going after independent voters by expanding the argument that Clinton’s policies were “just more of Obama” and included criticism of George W. Bush. “You’re looking for the undecideds,” Peter states. “You’re looking for the independents, and they will appreciate someone who’s critical of both parties.” Certainly, a cross-party strategy would have emphasized Trump’s “outside” position, a major theme of his campaign.
In the end, Trump failed to call Clinton out on her erroneous assumptions about the economy (i.e. Bush’s tax cuts caused the 2008 Financial Crisis). Trump had ample opportunity to show Clinton’s lack of business experience and idealistic detachment from economic realities.
In an epic meeting of economic intellects, Peter Schiff and Roy Sebag talk about Goldmoney’s recent acquisition of SchiffGold and the coming revolution in value transactions. Peter and Roy also discuss the special properties of gold that make it the best standard for backing currency, Goldmoney’s potential to change the way we buy, sell and save, and how crypto currencies and the internet are making banking systems irrelevant.
Janet Yellen and company are still claiming to make so-called “data dependent” decisions, yet new bad economic data is calling into question their true motives. In his latest podcast, Peter Schiff explains why the Fed is bluffing when it comes to raising interest rates. He also dispels myths about the benefits of a rate hike to the financial markets and why you should avoid them.
In his most recent Gold Videocast, Peter Schiff takes on San Francisco Federal Reserve President John Williams’ new monetary prescription for the ailing US Economy. Williams sees the current trend of slow economic growth as a “new normal”. His plan calls for raising the target inflation rate beyond its current 2% value. But how does Williams want to raise inflation? With a simple sleight of hand trick that no longer uses real GDP growth (i.e. adjusted for inflation), but uses nominal GDP growth.
Essentially, Williams wants to use a less accurate (and conveniently higher) number as the standard for measuring the economy’s “real” growth. It’s the policy equivalent of removing the gold standard. Once again, the government substitutes something real for something fake. The Fed can now add fantasy numbers to their magician’s box, which they use to hide the real recession we’re in.
Billionaire and founder of Icahn Enterprises, Carl Icahn, recently appeared on Bloomberg to discuss his support for Donald Trump and a future move to start his own super PAC. During the discussion he had with Erik Schatzker, the wealthy activist made a case for the coming demise of the US economy and collapse of the dollar due to over-regulation of the markets and lack of capital spending.
On his latest podcast, Peter Schiff takes New York Federal Reserve President, William Dudley, to task for his off-the-cuff remarks about a September rate hike. Peter also looks at the fine print of San Francisco Federal Reserve President John Williams’s new “era” monetary policy proposal, which is only a panacea if you want higher inflation, lower interest rates, and more quantitative easing.
It’s been an electrifying summer for gold. The explosive potential of precious metals investment has really taken off over the past few months, and the Fed has followed the exact trajectory Peter Schiff predicted they would. Peter recently appeared on Albert Lu’s Power and Market Report to discuss gold’s true value, the Federal Reserve’s mishaps, and the recent merger with GoldMoney.
This article was submitted by Fabian Gambino, senior precious metals specialist and director of technology. Any views expressed are his own and do not necessarily reflect the views of Peter Schiff.
The Bureau of Economic Analysis (BEA) released its estimate for the second quarter of 2016. After a weak showing in the first quarter, many pundits predicted strong economic growth for April, May, and June. However, the reality was a modest 1.2% growth to GDP. In this month’s Schiff Report, Peter explains how these numbers could affect gold stocks and precious metals.
The former Fed Chairman Alan Greenspan appeared on Bloomberg last week to discuss the state of the US economy. He noted some economic indicators like bond yield spreads, rising entitlement costs, and stagflation, which are sending the US economy over the tipping point. What worries Greenspan the most is an environment of uncertainty that’s taken hold.
For example, Greenspan noted the spread between the 5 and 30-year treasury bonds is at its “widest level in American history.”
With today’s FOMC announcement that a September rate hike is off the table, it looks like it will be the end of the year before Yellen and company change their monetary policy. It’s business as usual. Yesterday Peter Schiff appeared on CNBC’s Futures NOW in a raucous exchange with setting the record straight about how close his predictions have been about the Fed’s past actions. Peter also sparred with TJM’s Jim Iuorio about the deeper motivations behind the Fed’s actions.