On May 15, Peter Schiff delivered the keynote address at the Cambridge House International Mining Investment Conference. Peter titled his speech “The Calm Before the Storm.” People are still generally optimistic about the economy, but as Peter said, everything feels great until you realize the party is over.
The Federal Open Market Committee met last week. As expected, it left interest rates unchanged. But the FOMC made an interesting comment that indicates that it may be willing to “tolerate” higher inflation.
That might be all well and good for central bank policymakers, but just how willing are you to “tolerate” higher inflation?
Last week, Peter Schiff said we may well be in the calm before the economic storm. In his latest podcast, he said the storm may be on the horizon. But most people are still oblivious, including the Federal Reserve.
In his latest podcast, Peter Schiff said we are basically enjoying the calm before the storm right now.
With the US missile strike in Syria, rumblings of a trade war and a generally weak dollar, gold briefly flirted with $1,365 last week. But the anticipation of Federal Reserve rate hikes continues to create strong headwinds against the yellow metal. Last week, the Fed released its March FOMC minutes and most analysts interpreted them as “hawkish.” In fact, many people now think the Fed will nudge rates up again in June, leaving six months to get in the much-anticipated third hike of the year and possibly even get in a fourth.
After rallying on Friday, stocks tanked on Monday, dropping over 450 points. In fact, it was the worst first day of the second quarter since the Great Depression.
Most analysts blamed the plunge on the escalating trade war, but Peter Schiff has a different take. He said it was just another bad day in a bear market. In fact, he said the market could have rallied because the Chinese response wasn’t as bad as it could have been. But when you’re in a bear market, all news is bad news.
Last Thursday, the Dow Jones fell 724 points. It followed up with a 424 point decline on Friday. Meanwhile, the Nasdaq fell 2.43% Friday.
Most analysts blamed the plunge on fear of an all-out trade war between the US and China. But the Federal Reserve rate hike on Wednesday also likely played a part in the stock market decline. The markets don’t like the prospect of having their easy-money punch bowl taken away.
So, could we be on the verge of a gold breakout as stocks break down?
There have been numerous comparisons between Bitcoin and gold. In fact, a lot of people call Bitcoin, and cryptocurrencies in general, “digital gold.” But are the two things really comparable? How is gold different from crypto? What are the advantages and disadvantages of both?
Peter Schiff was a guest with Nicholas Merten of DataDash and they explored these issues in an in-depth interview. DataDash is a well-known platform for all things related to cryptocurrencies, data analytics & science. Merten is an excellent interviewer and ads his breadth and knowledge of the world of cryptocurrencies to the discussion. They not only talk about cryptocurrencies, they also get into economics, the stock market, Fed policy and more.
The friendly interview features a lot of give-and-take between Peter and Nicholas and will leave you with plenty to chew on and mull over.
The new Fed chairman has swooped into Washington D.C. like a hawk this week.
In his first testimony before Congress, Powell talked up the economy. He’s also indicated he plans to continue pushing interest rates higher. In fact, many analysts are now talking about four rate hikes in 2018, with the first on tap for this month. Powell said his personal outlook for the economy has strengthened since December, and he sees little risk for a recession.
In his latest podcast, Peter Schiff said Powell couldn’t be more wrong.
Ten-year Treasury yields flirted with 3% this week, hitting a four-year high of 2.95. Does the Treasury yield hold the leash of the stock market?
Peter Schiff talked about it in an interview with Liz Claman on Fox Business, saying the Fed has kept rates artificially low for years, but given current conditions, it’s inevitable that the market will lift rates toward “normal.”
Gold is going to “go ballistic.”
Peter Schiff recently appeared on Ivan on Tech for a wide-ranging interview. Ivan and Peter talked cryptocurrency, gold, government debt, fiat currency, the dollar and more.
Ivan is one of the foremost experts on cryptocurrency. He is an international speaker, blockchain educator, software developer and data scientist.
Ivan and Peter don’t see eye-to-eye on everything, but they did manage to find some common ground. If you are interested in cryptocurrencies and gold, you will find their friendly debate both entertaining and informative.