Contact us
CALL US NOW 1-888-GOLD-160
(1-888-465-3160)

Fun on Friday: The Opposite Game

  by    0   0

When I was a kid, we used to play the opposite game. Everything you said had to be the opposite of what you meant. For example, if you were hungry, you’d say, “I’m not hungry.” Or if you really liked the song on the radio, you’d say, “This song sucks.”

Well, politicians play the opposite game pretty much all the time.

If a politician tells you something is black, it’s almost certainly white. And if she tells you that a policy is going to really help you out, you’re about to get royally screwed.

Now, you may say I’m being a bit too cynical. And I would agree — if we were playing the opposite game.

George Orwell perfectly captured the spirit of the political opposite game.

War is peace. Freedom is slavery. Ignorance is strength.”

The government in Orwell’s dystopian world used this kind of language to promote “doublethink.” This is the ability to embrace two contradictory ideas at the same time and believe they’re both true. Basically, it turns the citizenry into incoherent idiots.

This is not happening in America. (You can decide if I’m playing the opposite game right now.)

Jerome Powell was apparently playing the opposite game this week when he announced the Federal Reserve’s balance sheet policy moving forward. He said — and I quote — “This is not QE. In no sense is this QE.”

So, what is the Fed going to be doing?

Well, QE.

According to Powell, the central bank will be expanding its balance sheet. The Fed chair said details of the process will be explained in the following days, but it will involve the purchase of Treasurys.

This is pretty much the definition of quantitative easing. So, basically, the Fed announced QE while telling us that it won’t be doing QE.

Oh, and by the way, the Fed also has not pivoted to an easing cycle. The two rate cuts were just a midcycle adjustment.

And the economy is doing great!

And you thought I was just being cynical.

Fun on Friday is a weekly SchiffGold feature. We dig up some of the off-the-wall and off-beat stories relating to precious metals and the economy, and share them with you – with tongue firmly planted in cheek. Click here to read other posts in this series.

scam-2-sm

Get Peter Schiff’s key gold headlines in your inbox every week – click here – for a free subscription to his exclusive weekly email updates.
Interested in learning how to buy gold and buy silver?
Call 1-888-GOLD-160 and speak with a Precious Metals Specialist today!

Related Posts

Fun on Friday: Silly Keynesians

I saw a tweet this week by Paul Krugman asserting, “What we do have is a persistent problem of weak demand; yes, we have full employment now, but only with extremely low interest rates, which means little ability to respond to the next downturn. This makes a strong case for a big government investment program.” […]

READ MORE →

Fun on Friday: What’s in Your Basement?

So, what do you have in your basement? My house in Kentucky is built on a concrete slab. And right now I’m in Florida. Here we call a basement an in-ground pool. So, I can’t really answer that question. But my grandfather had a basement. It was full of junk. I’m guessing that’s probably the […]

READ MORE →

Fun on Friday: Busted!

Did you hear about the Venezuelan nationals who got busted trying to smuggle $5 million worth of gold bars into the US through a Fort Lauderdale airport? True story. The duo had 230 pounds of gold stuffed into the nose of a private Cessna jet. Customs officials discovered a hidden compartment when they noticed some […]

READ MORE →

Fun on Friday: My Potty Got Jacked!

My potty got jacked. There are four words you’ll probably never say. Who steals toilets, right? But your problem is you don’t have a solid gold toilet. If you did, it might indeed get jacked. In fact, burglars snatched a 18-karat gold potty valued at about $6 million out of Blenheim Palace in England.

READ MORE →

Fun on Friday: What’s the Deal With Friday the 13th?

It’s Friday the 13th! You know what? It already seems lucky to me. Heck, it’s Friday. That’s a pretty good start! I’ve never been one to get all torqued up about the number 13 anyway. In fact, I kind of like it. My preferred hockey number is 33 in honor of Patrick Roy and just […]

READ MORE →

Comments are closed.

Call Now