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Peter Schiff: NASDAQ in Bear Market

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What the Federal Reserve doesn’t understand about the market is that the market is going to continue to keep falling until they cut rates again and do another round of quantitative easing. The market is acting like a drug addict in withdrawal thanks to the drugs (easy, cheap money) the Fed gave everyone during the Obama presidency, but have had it taken away during the Trump presidency (Fed rate hikes – quantitative tightening). Now the drug addict (stock market) wants its drugs back.

The Fed has basically told the market that they will continue to raise rates until a recession takes place. The Federal Reserve made a deal with the Devil in 2008 when it slashed interest rates to zero and implemented quantitative easing to delay the day of reckoning because they didn’t want to deal with the underlying structural problems at the time as that would have been too painful. So they inflated a bigger bubble and now the Devil has come to collect. That worked out well for Obama and Wall Street, but not for Main Street and certainly not now for Trump.

What people don’t understand is how much worse the economy is going to become once the Fed comes to the rescue. Gold is going to go through the roof.

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