This page has been archived and commenting is disabled.
Fireworks Fly As Peter Schiff Warns "An Economy That Lives By QE, Dies By QE"
Ahead of tomorrow's decision by the FOMC, Peter Schiff ventured on to CNBC to discuss the economy, the fed, and gold... among other things. Schiff rightly fears that while the Fed may well stop QE3 tomorrow, QE4 will not be too long behind it as he notes, rather eloquently, that "an economy that lives by QE, will die by QE" as the Fed's total lack of willingness to allow stocks to fall (see Bullard 2 weeks ago) or a 'cleansing' recession leaves the nation's economy in far worse shape than it was before the Fed's intervention. Schiff calmly replies to the anchor's questions (as she proclaims "I am not on the side of the Fed but..."), gently explains his view on gold when challenged about his 'wrongness', but when a guest starts hounding him for being dangerous to CNBC viewers wealth... Schiff (rightly) loses it - must watch!
A well reasoned discussion of the Fed's manipulation of markets and mal-investment hangovers is well worth the price of admission... but at around 6:35 when Scott Nations unleashes his tirade on Schiff, the fireworks start to fly... and Schiff (while being shouted over) reminds guests, anchors, and viewers alike "Go to YouTube, I am wrong a lot less often than most people on this program... and all you do is hassle me" that he was among the very few appearing on CNBC before the crash who foresaw it and the cataclysmic shift that has occurred (no matter what the perception of short-term memory traders)..."Think of all the bulls you paraded out here when Nasdaq was 5,000"
Absolute must watch...
We can't help but feel the timing of this tirade against Schiff is spookily prophetic and will be in its own YouTube class in a few years...
* * *
Ironically, here is Scott Nations in 2008 getting "Schiff'd" by the CNBC anchors (Liesman) and some other guest muppet when he dares to suggest the Fed is intervening and that the President's Working Group (i.e. Plunge Protection Team) is hard at work...
"look at the market action on the 10th and 28th and tell me what else might have generated a 100 point rally in the S&P under that situation?" Liesman fobs him off as some conspiracy wonk...
Yep looks normal to us... 10/10/2008
and 10/28/2008
Those are 100 point moves on a 700/800 S&P!! Nothing to see here eh Liesman, Kiernan, Quick?
- 136439 reads
- Printer-friendly version
- Send to friend
- advertisements -




Peter has some good points, but his offshore bank appears suspicious to me.
Fuck 'em all.
How did this get missed?
Myra rollout.
http://www.dailyfinance.com/2014/10/28/401k-ira-changes-2015/
Boy I am standing in line for this.
'guaranteed by the government to never lose value' 'hold a new retirement savings bond backed by the U.S. Treasury that is guaranteed not to lose value'
How do they operate in a ‘never lose’ way?
That which has no value to start with, cannot possibly lose any more.
How did this get missed?
Myra rollout.
http://www.dailyfinance.com/2014/10/28/401k-ira-changes-2015/
Boy I am standing in line for this.
I regularly buy coins gold and silver. I wont know the timing and may not have a chance when
its too late. It might not be available at that last moment, one may not have the resources at the ready, like if stocks crashed
and one has to take that loss to buy the gold too late. Why would timing matter, I have to cost average
over time, I need time. The stuff is expensive I have to buy slowly, over time, that needs time.
I hit lows exactly because I use proprietary cycle calculations. Coins out perform paper and all
my coins are in the good and I'm not even trying to make a trading profit I'm trying to accumulate a value.
So my cycles look at lows in 20 and then 30 weeks, And I doubt substantial lows, just trading lows because some
larger scale cycles have already turned up, that is why it is not making new lows. You have large scale that has a wider
confidence interval already turned up, with intermediate term troughing out final lows. I would hope at 20 weeks, at
worst a final low 30 weeks that could be a higher low.
I just want to cost average in over 20 weeks.
If GLD would drop anytime in Nov to about 145, I would make my next purchase but will buy by end of Nov for sure.
I would love to see these tv a-holes sued for spewing crap and screwing people, why wouldnt they be sued by CNBC viewers
who take trading losses, or housing losses since 2007 CNBC ponzie hype.
And even worse, what if somone lost everything listening to them and commited suicide, why isnt cnbc terrorists in jail for murder.
Financial fraud is terrorism per patriot act
GLD closed today at $118.10. You will make your next purchase if it drops to $145? Did you mean $115?
Yes, I meant $115 which it might be overnight right now.
I guess I am buying tomorrow in $114 to $115 range. I only buy the coins
though and dont trust the paper models.
If my gold went to zero I'd still rather have it over you traders supposed profits.
For a good laugh "Just buy the fucking dip you fucking dumb ass"...
http://www.youtube.com/watch?v=0akBdQa55b4
Shiff is selling vegetables to a meat eating demographic.
He missed a great opportunity to point out that the good earnings are to some extent an example of what is wrong with QE.
QE is destroying the economy but in the mean time it is making money for people who play along. More QE will continue along the same path until one day probably not soon...
I think the door is closing on Honey Boo Boo merchandise.
QE works inside of a vacuum. However, it doesn't take into consideration chaos. Note the market reaction to the "Ebola Crisis". Had it been a more immediate and severe threat, market would have been in the tank at an accelerated pace due to the perception of the market already being overvalued as a result of QE. The Great Ebola Scare of 2014 should be a learning experience for us all for several different reasons. Plan accordingly.
I think Schiff is "full of hot soup"! He presented absolutely no insight nor any critical analysis during his 14:29 time slot. I don't think that he will be back on CNBC for at least another 2 years.
In my opinion, Gold Bugs are always "talking their book". They are no more reliable than the guys who breathlessly exclaim how great the latest social media app is going to be.
But -like them or not- the permabulls have been right for almost every calendar quarter during the past 5 years.
I smoke some really good shit but can you share?
Peter has been saying buy stocks the whole time dude. You need to open your ears and listen to what Peter says, not what failures who insult him say. He has been saying buy stocks because of QE for years. he just likes gold better because it is insanely underpriced.
Everything is QE.
Here in the D I heard a news story (financial gimmick) on the radio today, “Organic businesses are being built through grants”.
Do you see the problem with that thinking? We’re doomed.
Unfucking believable it's like the twilight zone I must be odd man out because I think gold at 5,000 will be a bargain.
I mean really think about it 7 billion people and all paper is worthless?
No I am with you. I see $25,000 per ounce easily and think $100,000 is possible. Frankly it is moot because we won't measure it in dollars. Yuan maybe.
I thought by now even a zero hedgers would've figured this guy has no idea what he's talking about. He claims to predict that the housing crisis problem is if you followed his advice you would've been out of housing years before it collapsed, if you'd follow his gold trading advise you to severely underperformed the stock market for the last 10 years but nope fax can't get in the way when we have opinionated zealots here on zero hedge. I just realize what I said, maybe we should call this zealots hedge.
Check your facts webspin, you are fucking wrong.
In the last 10 years gold has tripled in price.
In the last 10 years the SPX is up 67%.
Come back when you know how to compute returns, troll.
In the last 35 years gold is down 50% one adjusted for inflation. Stockmarket including dividends is up 1000% how's those numbers for you clueless?
Webspin. What does that have to do with your earlier comment which was dead ass wrong? Pick a time frame and any investment can be made to look good or bad . What is your fucking point. You hate gold? Are you honest ? Can you do math. Go educate yourself come back when you think you are ready to handle fight club. Epic fail.
How the fuck do you adjust gold for inflation? I think my head just exploded.
I love how you refer to "the stock market"...which one? The market where stiocks that are losers are taken out of the mix and a new momo is put in to make the numbers pretty? As for gold, it is like life insurance in that you hope you never have to use it but it is smart to have it just in case. Ask an Argentine or Venezuelan whether or he not he would like to own some gold.
Hate to piss on your fireworks mate but gold is outperforming S&P by 110% over last 10 years... I know, I know, those fact things are bloody annoying but still... pick a better date like 8/29/2011 to really show how stocks are the best...
How about we chooseFebruary 22, 2009? That's when I posted "20/20 Foresite" on Amazon under shiffless's last worthless book. Not that you'll learn anything.
It's all rather simple actually. Gold is real and honest, compared to their illusion and dishonest FRNs. The darkness curses the light. Evil can not stand virtue.
Amen. Very clear to moral thinkers.
what difference does this al make--the US is BK. How we going to deal with that. When CNBC or Fox Biz or CNN or MSNBC or abc cbs nbc espn or lifetime talk about the magnitude of our debt and deficit and obligations it will be too late.
Gauging the action we've seen over the last couple months, Even the clueless should recodnise the pent-up demand in the stock market. I'd assume we're going to shoot up to 20,000 before taking the next breather.
And then the breather to 8000?
We're probaby within months of some sort of bottom in gold. What queued me in was an article recently here that mentioned how dead one of the miner conferences was and how negative sentiment is. That bottom isn't yet in. Still, I am not thinking gold is going to $5k either, and I do think deflation is going to kick in and the Fed has nearly used all of ther bullets and Yellen knows it. I think they are taking queues from the ECB right now and keep hinting at more QE without necessarily delivering. They kept saying recovery was off in the future and didn't deliver either. If the Fed does any more QE, the markets may be elated for a time, but the remaining world that hasn't abandon the US will probably do it, and they know it. So I disagree with Peter and Nation, that they both don't expect the stock market to collapse and they both don't expect deflation. Everyone thinks the Fed will step in endlessly to try to stop deflation, but I think there is a limit to everything.
Not months. The bottom is in. We are within weeks of blastoff to the upside.
Watch and be amazed. The next two months will be very good for gold in my opinion.
The manipulator are scared and running out of time .
Well, Schiff may be a lot of things, and he is selling and self-promoting himself, but at least he has the guts to actually do something about it.
What he is doing now is actually using CNBC's and the Fed's own rhetoric against them, basically daring them to start QE4, because he knows once they do that, gold will top $2000.
So basically, the Fed is caught between its own rhetoric and a hard place. They've manipulated and lied so many times, they're basically like the kid that cried wolf. You can only cry wolf so many times before people start ignoring you.
At this point, the Fed and also the American media have a problem. The news cycle and people's attention span is working against them, as people are just too busy trying to make a living to pay attention.
And when the next big financial crisis hits, it will be a doozy, because it will come out of left field. It may be financial, or it may be geopolitical, but it will come before anybody expected it.
and really gold $5000 do you really care what the DOW is at?
Should the FED curtail QE as of tomorrow, gold will fall below its intermediate lows (~1180) in short order and continue for a short while. This may be a real opportunity to establish a gold/silver position that will hold for the rest of our lives ... epic buying opportunity.
Wish Schiff had pointed out that nearly all of their earnings improvement in EPS is due to share buy backs using leverage. It is easy to improve EPS with free money and leverage. It all works, until it doesn't.
In fact, that is the whole issue. Thelma and Louise or Keynesian economics. Guess what Mr. Keynes, you are dead but we are not you asshole. Spawn of the devil. That is what you are, and we are going to write the history books so you are SCREWED. Truth always wins in the end.
Your lies will be exposed. It is almost biblical.
I think Keynes gets a pretty bad rap here ... He would have been screaming at .gov for the last 40 years as they kept expanding the money supply in good times. Keynes always said that a country needs to deficit spend only at the nadir of the economic cycle and cut back on spending when the cycle improved. We have been deficit spending for 60 years and blaming it all on Keynes. He would be really pissed if he were here.
Well we dont know the story if US has any gold, we think they got Libya gold, mali, know they got Ukraine,
gold under twin towers, who knows.
Basel-III accord Jan 2013 named gold level 1 currency, that makes it fractional reserve.
( Basel-II named US treasuries the fractional reserve 1980 )
I wouldnt be surprised, after they have pulled the plug and called in all the "borrowed" property,
they recapitalize by fixing gold at $10,000 and create all that capital out of thin air. Why not $100,000.
It actually is already a reserve per basel-III and may even be the reserve.
The trick is to have some but not ever use it for consumption, and come out the other end.
I will try to use my silver for consumption if it comes to that and preserve the gold.
My plan for stocks is to liquidate for July 4 and convert it to gold. And that is not necessarily a lot, I
am not a wealthy man. I would say now, 33% of my liquid worth is in metals. I bought some silver higher
but an awful lot low with a decent average price, all my gold is right and was bought on exact lows.
Looking for one more gold purchase soon by end of Nov, any time it takes a drop coming up.
Peter lost the early rounds of this interview and got knocked back on his heels a bit, but he came back and shut them up, as usual. I'm a big fan of Peter Schiff, can't stand the snark of Jackie DeAngelis. Peter's right: he made the correct call on both gold and housing in the initial years of the collapse and he got no recognition on CNBC for it. But kudos to CNBC for at least having him on, if only to mock him.
Heh heh. Peter Schiffty, he's so monocellular. If I took investment advice from an amoeba, I'd call him Peter Schiff.
I'm down about 50K yellenbux in my PM holding since 2011.
Sorry Schiff, I'm trying to hear what you're saying, but the sounds of commodities getting assreamed with no lube is deafening.
Why can't he talk out of the front of his mouth like normal people? He talks like a sleazeball who's offering illicit drugs down a side alley. It speaks volumes about Zerohedge readers that he receives such adulation here.
Bob, I've been listening to you talk out your ass for a while now without complaint.
What's next, you don't like his tie?
Likely the same reason you can't quit talking out of your ass; Born that way.
I guess we will see how accurate Mr. Schiff is when the economy tanks. We will also see how low the dollar can go, a lot lower than gold or silver has been manipulated to a false low. Apparently the NSA paid Troll douche squad is out in force this evening.
Peter will get the last laugh. Peter is the man!
SImple....If I were into gambling, I would have bought some stocks as long as QE was on..but which stocks?? I will not sell my PM's tho..
Peter is correct, and gold will skyrocket eventually but it wont be until the banker barons are exposed, or they come up with the dollar revalue, or BRICS finally get the lead etc... Peter does well, and I am glad he at least is exposing the corruption of QE...THe lady was correct also, those in stocks during QE made money..But nobody really knows when it will crash..Could be Nov 5, or it could be next year if QE continues..If you feel lucky and can get out in time, stocks are the way to go for now..But dont sell you metals..
SN seriously needs to brush his teeth.
Wow...dental hygiene tips from a Zero Hedge idiot.
How interesting!
Wow how rare sarcastic comments from a colostomy bag
Y'know folks, there's some funky shit going down in the city right now, stocks we know are being corralled by the fed back to neutral, but interest rates are anomalously low, price of oil is tanking which should be a humongous boost to the economy if it sticks around (and also upsetting to Russia, Venezuala, Iran, Saudi Arabia, and fracking), but gold and PM already went down and then stopped - when you'd think it would have been spiking for months.
I'm not even going to try to come up with an economic scenario where this makes sense cuz it's all central bank driven, but I get the feeling some other big players are stepping up and warping individual markets and I'm not sure what happens next.
Yes, the BSD's are pretending to be in conntrol again, and they will be until that last miscalculation. I wonder who decided to let Lehman go under, because that broke it open, probably Lurch. There will be something like that again, a failure in China will leave somebody exposed and then it will be instant freeze out. The tide is on the way out, for sure.
look the market is run by the government, until they blow it up, there's nothing much to say.
Gold will perform just like any other financial instrument, until people stop trading it using margin accounts.
Who gives a crap about Schiff if he keeps saying he likes equities but QE doesn't work
When stocks drop 10% and the Fed announces QE4, will
CNBC invite Schiff back, and apologize?
Soon, Schiff will have more people watching his Webcasts than CNBC will have viewers!
Nope, but the joke is on you for believing either one.
Schiff Rocks! CNBC (Cartoon-News Bullshit Center). One thing that can not be denied, CNBC's viewership is the Worst compared to all the others.
Trust Real Money, not FIAT paper. These CNBC Fucktards can spend all their FIAT on $50 Big Mac's 1 year from now. Not once did these TARDS mention the death of the Petro Dollar...Nuff said!!!
I think the real question is what is going to be able to done, if anything, with monetary policy in a attempt to offset the next business cycle recession. If we are still at ZIRP at that time and QE has had less and less an effect with each round. Will there be anything that can be done at that point. And if not, what will the market's reaction be? I don't believe it is possible to permanently eliminate the business cycle with monetary policy. Filling in the troughs while maintaining the peaks is just a flawed theory. Too many variables for a central planner to accomplish. We have also brought forward a tremendous amount of future demand with the current easy money policies for a very long time now. Just take for example the subprime auto situation. They've now given cars to anyone who can fog a mirror. And probably some that can't. So, future demand for cars is going to take a big hit, given everybody's already gotten a new one. Plus, there will be a flood of used cars hitting the market via repossession from those subprime borrowers. That's just one example, there are probably a hundred others. When you add it all up, there is going to be some incredible headwinds to the economy and markets in the near future that nobody is talking about. Just as no one (except Schiff and a few others) was talking about the subprime/housing bubble the last time around. I cannot shake the feeling that reality will once again raise it's ugly head and roll these markets back over into sanity. Who knows when, but given the magnitude of the uncorrected market move so for, it seems like it's going to be doozy when it happens and we are proably much closer to the cycle top than any midpoint. Look at the difference between market performance last year to this. Massive difference. It screams of a drawn out topping process. Getting harder and harder to find greater fools to offload equities on.
These ass clowns have one thing in common -- no clients.
Smart money is out, long gone. Thanks to the "Fed" most are never coming back, suckers excluded.
Book it.
Peter Schiff is right in a very very long term, but was deadly wrong as a short trader, mid-term trader and even long-term trader. People have lost a lot of money and oportunities to make money, following his advice.He warned that total crash is coming, that dollar will fall, and gold is only real asset. As to today, he was 100% wrong on all his predictions.
I will repeat this post because in my opinion it’s important to open eyes those who have good intention in their heart but have been misled by elite / regimes of different sides. How I see things is I look at what government is doing – looking at its work, methods and results. And from there it’s basically two sides: those who work in good of common people and protect their individual rights & freedoms, and those who manipulate their people take their rights away and work for elite benefits. Now you look from that perspective and you are going around in so called “alternative media” as this (which actually is not alternative at all – but about that little later) than I’m sure you are aware about US oligarch regime crimes and that they are not working for the people. What you are lacking in information at some sites is about other elites / regimes / oligarchs and how they treat their people. So because of this lack of information you can be easily manipulated to think that there is only one evil elite that rules west and others can be looked at as opposition to this evil – so automatically they are the good guys VS evil west. Well it’s not so at all. If you go back to what I started and those criteria how I divide governments – than you will realize that for example Putin oligarch regime, China elite regime – is not working for their people and is not protecting their individual rights and freedoms. They use the same tactics, the same crimes, the same manipulation in order to gain their elite more power more wealth and hides it under different banners. I’ post links about Putin regime in the end – check them out.
This manipulation with your mind is possible using different kind of channels that you think is alternative media – when actually it’s Putin regime asset for brainwashing you. Also US oligarch regime has their alternative media to brainwash you. So it’s really hard to stay focus and not to get lost in this war over your mind. But those criteria I posted can help you.
What Putin regime assets as RT, Zerohedge (because obviously it is Putin regime asset as you will not be able to find any criticism towards from this site towards actions Putin regime do to their people by limiting their freedoms, by internet censorship and of course will stay in line with Putin regime lies that they are not invading Ukraine - when there is evidence about Putin regime tanks in Ukraine that are not in any country army but only in Russian) does is they are mixing truth with lies. You know – you have to add some sugar for bitter poison. They are well aware about US oligarch crimes and they are well aware that MSM is hiding them from people in west and they are well aware that people in west is seeking the truth that exposes these crimes – so what they do is this – they expose US oligarch regime crimes for what you are so interested in and in this way they are taking your attention and confidence to this source so that you trust them and thank them for bringing truth. And what they do then is they add their Putin regime lies that you automatically accept as truth because they were saying truth about US oligarch regime crimes (not always though). So this is the way they mix truth with lies in order to make you think from their perspective. If they add more paid trolls than mostly this scheme will work and people will live under Putin regime brainwashing machine. So now you know. Now it’s a choice for you to think this trough and start looking at information more with critical thinking. Yes, world is not so simple as we think.
Here are some links to look at and think of if you are cheering for Putin regime:
http://globalvoicesonline.org/2014/07/05/russia-internet-censorship-laws-crackdown/
http://www.washingtonpost.com/world/europe/russias-putin-signs-law-extending-kremlins-grip-over-media/2014/10/15/6d9e8b2c-546b-11e4-809b-8cc0a295c773_story.html
http://www.rferl.org/content/russia-ad-ban-hurts-television/25449900.html
http://www.hrw.org/news/2013/04/24/russia-worst-human-rights-climate-post-soviet-era
http://www.forbes.com/sites/paulroderickgregory/2014/04/12/russian-tv-caught-red-handed-same-guy-same-demonstration-but-three-different-people-spy-bystander-heroic-surgeon/
http://www.youtube.com/watch?v=gkaVIIOE9ys
http://bigstory.ap.org/article/6a2b93aac55c40c9a1b0b0bcc11a07d9/russia-gives-approval-sanctions-compensation
http://www.ibtimes.co.uk/russias-rosneft-asks-48-billion-state-wealth-fund-sanctions-bite-1471332
>> "What Putin regime assets as RT, Zerohedge (because obviously it is Putin regime asset as you will not be able to find any criticism towards from this site towards actions Putin regime do to their people by limiting their freedoms, by internet censorship and of course will stay in line with Putin regime lies that they are not invading Ukraine - when there is evidence about Putin regime tanks in Ukraine that are not in any country army but only in Russian) does is they are mixing truth with lies. You know – you have to add some sugar for bitter poison. " <<
Christ, my dog has better diarrhea than that. And your pseudo-paternal tutorial on critical thinking is absurd.
Post Scriptum:
Everybody knows Russia is a corrupt shithole. The difference is that it's slowly getting better. The US and Europe are getting worse. And not slowly.
Better in what way? In individual freedoms and rights? In free press? In free expresion and protest? In manipulation to think like in USSR? In what way better?
That CNBC garbage is unbearable. Just vile.
So they just openly admit it now that they are propping up the market? I thought that was the secret. Maybe I should pay better attention?<<<<<
So what other price descovery can they prevent?
Peter Schiff is a believer in inflation, the inflation which has failed to materialize so far and he can not explain why because he disregards the role of debt as being deflationary force
P.S. here the term inflation is understood as rise in prices
I guess you don't eat nor pay health insurance. It is materializing and if the trend continues, I'll be working for free and then owe my employer money for health insurnance. When I do get a raise, which isn't every year, its wayyyyy short of covering health care premium increases
Santa Claus rally.
All this haranguing is like watching crew mambers argue over the placement of the deck chairs on the Titanic. The USD will rise with the cascading collapse of foreign econiomies and resulting (erroneoulsy perceived) flight to safety.
Rise in the USD, drop in the price of oil and PMs. But...it won't last forever. And when the US hits the wall on debt, all bets are off.
What then? Maybe the four food goups (beans, bacon, bourbon and cigars) along with a truck-full of disterillery products and some ammo to sit the misery out.
Liesman lies,man.
Peter Schiff will be proven right.
The only reason for metals price decline is because of big banks issuing paper certificates to stupid investors. If you dont physically have the gold then you Dont really have it !
Printing money is better than deflation.
Problem is none of the money being printed is causing inflation in things that you want to see inflation in . . . like inventory.
Inventory of most things is falling in value/price, which means companies holding inventory will squeeze that money out of labor/work force and fire people/lower hours.
Price of things people need to survive are sky-rocketing.
So pretty much QE FAILED miserably and actually made things worst for day to day Americans.
Schiff is brave to continue to attend the BS CNBC puppet show. The lady knows crap about whats really happening and that guy is just a buffoon! That smug smile on that buffoon I would like to knockout his light right here and now!
These buffoons know crap about gold! Listen to these idiots and your will be farked!
Your selling nothing except paper ponzi you idiot. Pulls some physical ion tonnage and I'll listen.
Harlets for sure!
Jacky you are another CNBC moron. No wonder the viewership is crashing!
Imgine being married to this bitch
Jackie DeAngelis is just another arrogant New Yorker know it all. Yes I would hate to be married to someone like her.
folks.. none of this is stupidity, buffoonery, or ignorance.
this is planned, executed, and the insiders are on top of it all.
to buy into "ignorance" myth.. means to buy into all sorts of myths. the talking heads have a script to follow, to continue to lure the sheeple in, for the slaughter. do the specific momos on tv actually klnow? who knows. who cares. they are prostitutes. this is their job. why do we continue to frame it as ignorance?
the fed has done this many times before. expand expand expand, then contract. thats the entire purpose opf a central bank. there may be another qe, but eventually, they will indeed stop, and collapse it all. thats what they have always done. very little is left to chance here
How do you know they’re spewing propaganda?
When they get really pissed off at you for not buying into their propaganda.
Peter Schiff will be proven right eventually. 5k and beyond, there is no doubt in my mind. When (and in which manner) this market turns, only the insiders know. Will 1180 hold or will we make a detour down to 900/1000 and then up up up? Or with QE6 down to 500 and then re-evalutaed to 50k over night when the CONeX paper froaud breaks? Time will tell how this gets resolved. Ultimately higher, much higher than current levels. Till then, I just convert a portion of the surplus funny money into real money each month.
QE#N will "work" (stocks up, interest rates lower) till we have reached zero yield on all bonds and/or the dollar looses is reserve currency status (world outside U$ rejects the dollar - yes, there ARE people abroad, lots of them) or the whole derivative casino of 1+ quadrillion dollars goes bust. All of it is in the making, so the clock is ticking. Grab a chair while the music is playing, that is my advice. Best of luck to all, we'll ALL need it.
When this chick got snarky with Flekenstein, the market cratered until QE4 was promised.
The lady anchor's voice is extremely annoying.
CNBC = CLOWNS & ARSE WIPES ONLY!
that BOA guy is a total fraud too. WANKER!
If by fireworks you mean "anal beads" and by fly you mean "flung gently from a lover's anus," then yes, I agree with the premise of this piece.
No one knows.
Forget about gold, check out Chris Martenson and the crash course, all you have to do is witness the exponential curve to financial collapse by seeing the exponential climb in the total debt now going vertical, this spells a huge collapse and reset, example check out the debt when George push push in the Bush was president,, and now with our golf playing boot licking financial lacky president has accumulated, the debt bomb is ticking, and this is what will cause a loss of confidence.
As the petrodollar fades into history, the costs of oil, gas, gold and other commodities will soar. No one knows how much gold will be in terms of dollars...or oil...or food....
But imho, Schiff will ultimately prove to be correct about the economy, the dollar currency and gold when one looks at:
Facts + History + Human Folly.
Typical CNBC fggtry.
Maybe every expert, financier, commentor, larakin has got it wrong and Janet is the only one Planet that has got it right.
I think there is a 1 chance in 4.5 Trillion that's going to happen.
All it's going to take is for one major non-financial corporation to not be able to make an interest payment. Companies are "getting cash advances on their credit cards to make the monthly minimum payment"
It is an interesting thought experiment... but totally dependent on decisions made and not on markets.
It depends on whether the intent is to save or kill the dollar.
If they want to save it, then they must deflate and gold price will go down. If they want to kill it, then they will continue to inflate, make the dollar valueless and then replace it. Historically they have chosen deflation which puts more hard assets in their possession.
While gold HAS been a traditional store of value when it was tied to currency, it is no longer tied to currency of any kind and it is my belief that the bankers never want to have it tied to currency again because that limits their ability to control the world through money creation and distribution.
So, do we declare war on the central banks? Who exactly would do that? I do not think they will go away quietly, but their form of running the world is exceedingly corrupt and humans have to find a way past that corruption ... individually and as a species. Right now, anyone who could declare war on the banks has been corrupted by them.
The economic recovery that the media and talking heads have been bantering around is a manipulated myth. A manipulated stock market distorted by recent economic policy hides and mask the real truth, in many ways it is ground zero in the war to convince us all is well.
The American people and Main Street will tell you they are far from convinced that it is smooth sailing ahead. Huge weakness in the economy has been shown by numbers that barely get by even after record amounts of stimulus. Fact is if QE or the massive government deficit spending that props up our economy is removed it will fold like a cheap umbrella.
Recent changes in how the GDP is figured , which boosted growth thus reducing the debt to growth ratio, and attempts to spin poor numbers regarding employment will not change the path we are on. Real problems face us in coming years, more on this subject in the article below.
http://brucewilds.blogspot.com/2013/10/myth-of-economic-recovery.html
Is Schiff still in business?? After shorting stocks and touting gold, I doubt it. Loser.
Scott Nations comes across as an angry white male. I'm glad Schiff called it like he saw it. I've gone back and watched some of those youtube videos and Schiff held his cool and just called it like he saw it. It is amazing to watch. He is completely right.