The latest Biden/Democrat stimulus bill is just the beginning. There is more government spending coming down the pike. That means more money printing. But Paul Krugman says not to worry. It didn’t cause a big jump in CPI last time and it won’t this time either. Peter Schiff talked about it in his podcast. He said when Krugman talks – nobody should listen.
Last month, Federal Reserve Chairman Jerome Powell testified before Congress. In his answer to one question, it sure did sound like he doesn’t believe in the basic economic principle of supply and demand. Peter Schiff talks about it in this clip from one of his podcasts.
Peter Schiff recently appeared on RT Boom Bust to talk about inflation, the Fed and gold. He said a lot of people still think the Fed will soon tighten monetary policy to deal with rising inflation pressure. But they’re wrong. Ultimately, the Fed is going to surrender to inflation without a fight. When the markets realize this, the dollar is going to crash through the floor and gold is going through the roof.
Last week, Peter Schiff appeared on NTD News to talk about the Federal Reserve’s increasing dovishness. He said despite all of the assurances from Jerome Powell that the central bank’s monetary policy isn’t stoking inflation, the economy and the dollar are both at risk for collapse. The Fed is the only thing standing in the way and it can’t stand there forever.
During this interview, Peter also touched on his recent Twitter debate with Elon Musk about bitcoin.
Interest rates continue to rise. Gold continues to languish. The stock market bubble continues to inflate. In his podcast, Peter Schiff argues that investors are reading the tea leaves all wrong. They think rising rates are going to force the Fed to tighten monetary policy sooner than expected. But Peter says there is a reality out there that nobody wants to acknowledge.
Last week, Federal Reserve Chairman Jerome Powell said he wasn’t worried at all about inflation. But there are signs that inflation is heating up everywhere, from surging commodity prices to rising bond yields. In his podcast Friday (Feb 12) Peter Schiff talked about increasing inflation and the unreasonable expectations Wall Street has when it comes to the Fed’s willingness or ability to do anything about it.
In a podcast, Peter Schiff said it smells like stagflation is on the horizon. Inflationary pressures are becoming more and more apparent. Labor costs, commodity prices and bond yields are all pushing upward – clear signs of inflationary pressure. And of course, defined correctly – as an increase in the money supply – there is no denying inflation is rampant. We saw a record increase in the money supply last year. The only time that even comes close was the stagflationary period of the 1970s.
But what does this really mean for you and me?
We ended last week with some weaker than expected economic data – particularly the jobs numbers, but the stock market continues to go up. These days, the mainstream reacts to everything as good news. No matter what the data suggests, everybody seems to think things will come up smelling roses because of stimulus. But in a recent podcast, Peter said all of this smells more like stagflation.
It’s been a crazy, volatile week for precious metals. The Reddit Raiders pushed silver to over $29 an ounce and the white metal took gold up with it. But the run was short-lived and we saw a big sell-off in both metals later in the week. In this episode of the Friday Gold Wrap, host Mike Maharrey tries to cut through all the smoke and mirrors and talks about the underlying fundamentals in both the gold and silver markets.
Minneapolis Federal Reserve Bank President Neel Kashkari has been making the rounds. Peter Schiff talked about Kashkari’s recent comments on his podcast.
Kashkari ranks as arguably the most dovish Fed president. Peter called him the “uber-dove” saying he basically wants to print as much money as possible. During an online seminar put on by Montana’s Bureau of Business and Economic Research, Kashkari said the Fed needs to do even more to boost the economy and he’s not worried about overdoing it.
