Peter Schiff: Federal Reserve Only Delaying Total Financial Collapse of U.S. Economy
Thursday, February 18, 2016 11:06
First, in his 2007 book, Crash Proof: How To Profit From the Coming Economic Collapse, Peter accurately forecasted the bursting of the housing bubble, the ensuing financial crisis, and what has come to be known as “The Great Recession.” If television pundits and the people at CNBC weren’t so blinded by their own “Obama Recovery Pom-Poms,” they would wise up and give credit where credit is due, but don’t hold your breath on that one. Instead, when the “experts” were saying that talk of a housing bubble was nonsense as you’ll see in the video below, Peter was 100% correct!
Next, when Peter Schiff turned out to be correct with his predictions despite almost everyone else in the financial world saying otherwise, people with any sense should have taken note immediately to keep an eye on Peter moving forward. Instead, those who were ridiculously wrong leading up to the crash in 2008, continue to mock Peter openly about his recent predictions of a coming collapse.
What many fail to recognize, is that Peter’s prediction of the bursting of the housing bubble, the ensuing financial crisis, and what has come to be known as “The Great Recession,” only tell the tale from the first half of his book is book, Crash Proof: How To Profit From the Coming Economic Collapse. The REAL warning Peter was giving in that book was that the “crash” everyone had to REALLY worry about would be the one that came as a result of the steps government would take to artificially prop up the economy.
Right now is just the early stages of total collapse. 2016 has been the worst start to a year for the financial markets in HISTORY, yet still Obama Was at the White House Podium ”Peddling Fiction” Just a Week Ago, As Unemployed Americans Topped 100 Million People. What Peter explains in the video below, is that by artificially propping up the markets with QE1, QE2, and QE3, the “REAL CRASH” he was warning about in his first book hasn’t even happened yet. In fact, the economy is MUCH worse now than it was in 2008, because we’re more deeply in debt now that we were then. When Obama assumed office the country was $10 TRILLION in debt, and now it’s $19 TRILLION in debt. All he accomplished was the illusion of a recovery, when the reality is that all our problems have been exacerbated.
What we have now, as Peter explains in the video below, is not a legitimate recovery. All we did was borrow additional money, then we spent it, and Obama is such a fraud he counted the spending of borrowed money as economic growth which is a lie. It’s NOT. The debt is growing much faster than the GDP, and ultimately we’re going to have to pay that money back. The only thing that has kept us afloat this long, is low interest rates. Right now we can hear the piper calling in the near distance… but when the piper shows up on our doorstep, this country is headed back to the stone age in what Peter Schiff Often Calls the Great, Great, Great, Great Recession!
Don’t take Peter’s word for it. Don’t take my word for it. Listen to the Shocking Confession Former Federal Reserve President of Dallas Made on CNBC a Few Weeks Ago below.
During the interview shown below, Former Federal Reserve President Richard Fisher made some absolutely shocking remarks in a live interview on CNBC. While everyone kept talking about how the market crash in China was causing the U.S. markets to also crash and the rough start to 2016, Mr. Fisher said EXACTLY what Peter Schiff has been saying, which is that is complete nonsense. He echoes what Peter has been saying all along, that it’s THE FED causing the current collapse of U.S. stock markets.
Just a week before Fisher spoke, it was Peter Schiff who said that Due to the Fed’s Antics, the Market is Very Dangerous, and then former Fed President of Dallas confirmed every bit of that. More specifically, shockingly, Richard Fisher said:
“It
is not China,” it is The Fed that is at fault: “What The Fed did, and I
was part of it, was front-load an enormous market rally in order to
create a wealth effect… and an uncomfortable digestive period is likely
now.” He concludes there simply can’t be much more accommodation. ”The
Fed is a giant weapon that has no ammunition left.”
“In
my tenure at The Fed, every market participant was demanding we do
more… It was The Fed, The Fed, The Fed… and in my opinion, people got
lazy… Everyone was looking for the Fed to float all boats… Now we go
back to fundamental analysis, the kind of work that USED to be done,
analyzing which companies are going to grow their bottom line on their
OWN, increase their shareholders value, and be priced accordingly… and
as [The Fed] tide recedes we are going to see who is wearing a bathing
suit and who is not…”
After the interview with Former
Federal Reserve President Richard Fisher is an article reiterating what
Peter has been screaming from the rooftops for some time now: WAKE UP!
The Federal Reserve Only Delaying Financial Collapse. It’s unavoidable
at this point! In the interview below, for some reason the audio didn’t match up with the video, but you can still see Fisher’s demeanor and hear every word he says.
STOP BELIEVING THE PEOPLE WHO’VE BEEN LYING TO YOU ALL ALONG!
Profit Confidential writes:
Peter Schiff, CEO and chief global strategist for Euro Pacific Capital, is sounding the alarm bells once again. In a recent interview on Fox Business,
Schiff warned that as long as the Federal Reserve keeps bluffing that
it’s going to raise interest rates, its easy money policies have only
delayed an inevitable financial collapse.
He went so far
to say that there will be a stock market crash if Fed Chair Janet Yellen
continues to pretend that the economy is in good shape by raising
interest rates. (Source: “Fed Is Trying Everything They Can to Delay the Day of Reckoning,” YouTube, February 12, 2016.)
Schiff said
that the Federal Reserve waited too long to raise interest rates. The
December 2015 0.25% increase in its target funds rate is the first rate
hike since June 2006. As a result, Schiff said that there is “going to
be a bigger disaster” in the U.S. economy and stock market than otherwise, had the Fed raised rates earlier.
Schiff added
that the stock market is already in a bear market and there is only “hot
air” beneath it. Schiff argues that the markets will keep falling until
the Fed admits that the U.S. economy is in trouble.
“The problem
for the Fed is that they are now in this credibility box, which I
thought they were smart enough to avoid when I thought they wouldn’t
raise rates at all,” Schiff said. “But apparently I overestimated their
intelligence. They were actually dumb enough to raise rates a little bit
and think it wouldn’t matter. It matters a lot.” (Source: Ibid.)
According to
Schiff, the Fed is about to launch “QE4” (a fourth round of quantitative
easing) along with rate cuts into negative territory, but he is warning
against such a move. Schiff believes the Fed should rule it out
completely, since it does not seem to be working in stimulating the
economies of other countries like Japan and those in Europe that are
testing the negative interest rate policy waters.
“What the Fed
should do is rule it out outright because it doesn’t work,” Schiff said.
“It’s not working in Japan; it’s not working in Europe. In fact it’s
backfiring. Look at what’s happening to the European banks. They’re
getting crushed because of negative rates. So the Fed should rule it
out. They are desperate. They are trying everything they can to delay
the day of reckoning, but the problem is because they delayed it so
long, we have a lot more to reckon with.” (Source: Ibid.)
Schiff also
offered up his forecast for gold, which he believes will continue to
rise as investors flee to assets that provide safety, such as bullion.
He noted that gold is in “the perfect position,” because it will rise
whether the Fed decides to cut or hike interest rates:
“Right now you got two possibilities [for gold].