Loading ...PETER SCHIFF INTERVIEW=
Money manager Peter Schiff says the wild swings in the market are because of massive central bank money printing and exploding debt. What in the heck is going on? Schiff explains, “The real question is what was going on when the markets were going up? That’s what made no sense. The fact that they are coming back down to earth makes a lot more sense. I think the catalyst for this move (in the stock market) is, ironically, the tax cuts we got because that put the bigger deficits in the spotlight. Now, the deficits are going to go off the charts because we have to replace the lost tax revenue with more debt.”
What about the economy improving under Trump? Schiff says, “Growth hasn’t really picked up, it’s actually slower. This is all nonsense. The economy is not improving. Nothing is happening other than we are going into huge debt. We got tax cuts, and we borrowed the money to pay for them.”
Schiff predicts in the next recession, the Fed will go back to printing even more money. Schiff contends, “There is no question in my mind because the alternative is politically unacceptable to anybody, which would be a worse financial crisis than 2008. When we go back into recession, when we are in a bear market, they are going to go back to the only formula that they think works. They can’t do rate cuts because rates are so low, they can really cut them very much. So, the only real stimulus they can reach for is QE (money printing), but it’s not going to work this time. We are going to overdose on QE. There are no more bubbles that they can blow. They have already blown the mother of all bubbles, and this is it. There is no more. So, I think when they launch QE4, they get a currency crisis. We get a sovereign debt crisis. That is where we are headed. It’s taken a long time to get there, and because of that, the problem has gotten so much bigger. The bubble got so much bigger, so it’s going to be much more disruptive.”
Join Greg Hunter as he goes One-on-One with Peter Schiff, founder of Euro Pacific Capital and Schiff Gold.
Video Link
https://usawatchdog.com/biggest-ever-debt-dollar- crisis-coming-peter-schiff/