Peter Schiff believes that the next stop for interest rates heading into 2019 is going to be directly back to 0%. And in a new podcast, Schiff warns that he believes it is going to be QE4 that finally causes the dollar to collapse.
"The Fed will announce another rate hike tomorrow most likely," Schiff says.
"I think that if the Fed hikes rates, there is a very high probability that its the last hike in the cycle. That should remove a headwind from gold."
He continued, "If the Fed doesn't hike rates tomorrow, they're never hiking them again."
In addition to this, Schiff also talked about the price of oil, which tanked into the mid $40 range during trading on Tuesday. Schiff anticipates that another round of quantitative easing and continued inflation will eventually cause the price of oil to move higher. He’s bullish on the commodity and bullish on other commodities that are priced in US dollars for the same reason.
Schiff spoke about the price of gold and why he believes the commodity hasn’t been able to catch a bid despite the unrest in the equity markets and among central bankers. On the podcast, he discusses how he believes the volatility in the crypto space has taken away from gold catching a bid for the time being.
Schiff also addresses long time CNBC bitcoin bull Brian Kelly who, earlier this week, casually revealed that he had been net short the cryptocurrency after years of pumpish "analysis" on it, as well as other alt-coins, when there was nary a skeptical point to be made and the price of Bitcoin was a mainstay on the CNBC screen at all times.
"Maybe he's not as dumb as I thought, but he's obviously a lot less honest," Schiff said about Kelly.
Schiff had tweeted that he believed Kelly was engaging in pumping and dumping the cryptocurrency and that he should be fired from his job at CNBC as a result.
Brian Kelly, just revealed for the first time on #CNBC that he has been short Bitcoin. Too bad he did not disclose this conflict as he was pumping Bitcoin up to the CNBC audience so he could dump the rally. CNBC should apology to its audience and fire Kelly from their network!— Peter Schiff (@PeterSchiff) December 17, 2018
Since Brian Kelly, a CNBC regular, just admitted to using his position as a CNBC regular to pump and dump Bitcoin, CNBC viewers who were duped into buying Bitcoin based on Kelly's table pounding bullishness, without disclosing his conflict, should be lawyering up. Look out CNBC!— Peter Schiff (@PeterSchiff) December 17, 2018
Finally, Schiff talks about political aspirations that he may have for 2024. He addresses why he believes libertarian ideology can only penetrate into the mainstream via the Republican Party and he talks about possible aspirations for bringing his ideology to office in the future.
You can listen to the entire podcast here: