The Fed Systematically Sabotaged the Economy; So What’s Next? (Video)
Peter Schiff appeared on InfoWars with David Knight and talked about how the Federal Reserve has systematically sabotaged the economy.
Peter made a strong case that the actions of the Fed have created an economy that is even worse than it was seven years ago, before the so-called “Great Recession.” He also observed that the recent rate increase – small as it was – sent markets spiraling downward, just as he predicted, pointing out that it takes a smaller pinprick to pop a bigger bubble. Peter went on to predict the Fed will be forced to launch QE4 and even raised the possibility of more government stimulus in the near future:
They’re going to have to do even more crazy stuff this time because the problem is bigger. Everybody wants to pretend the Fed solved the problem. They didn’t solve anything. The market would have solved our problems if the Fed had allowed it. But the Fed didn’t. The Fed prevented the market from working…As a result, the economy is far more screwed up than it was seven years ago.”
Highlights from the interview:
“They raised interest rates and the markets are tanking…We are clearly in a recession now. The question is, how long have we been in a recession?”
“The bigger the bubble, the smaller the pin you need to pop it. The question is: when is the fed going to acknowledge the weakness in the economy and what are they going to blame it on? Because of course they have to pretend it was some external that caused it, and there’s no way anybody could have possibly predicted it.”
“I think sometime in the next few months they’re going to have to launch QE4, they’re going to have to reverse that rake hike – go back down to zero. And I think Congress is also going to come out with a huge stimulus bill that’s going to include tax cuts for the middle class and massive increases in government spending.”
“Nobody wants to look behind the curtain there at the Fed. It’s like eating at a fast food restaurant. You don’t want to go into the kitchen and actually see what they’re making.”
“They’re going to have to do even more crazy stuff this time because the problem is bigger. Everybody wants to pretend the Fed solved the problem. They didn’t solve anything. The market would have solved our problems if the Fed had allowed it. But the Fed didn’t. The Fed prevented the market from working…as a result the economy is far more screwed up than it was seven years ago.”
“What is driving the dollar is the false impression that the economy is still strong, that it’s going to keep growing without recession, and that the fed is going to follow through with all the rate-hikes it’s been signaling that it’s going to deliver. I think this is a complete fantasy.”
“This could be the last chance to buy gold under $1,100, because when people figure this out…this is going to be the big trade. The big short last time was subprime, the big short now is the dollar and the way you play that is to be long gold. And the best way to do that is with real physical bullion.”
Get Peter Schiff’s most important Gold headlines once per week – click here – for a free subscription to his exclusive weekly email updates.
Interested in learning more about physical gold and silver?
Call 1-888-GOLD-160 and speak with a Precious Metals Specialist today!