Peter Schiff: ‘The Fed Is Like Mr. Magoo! We Are Headed For A Massive Financial Crisis’

Peter Schiff has been saying that even though the stock market is on a slow downward slide, the biggest problem is actually in the bond market. Last week, Schiff warned us to be wary of the calm before the storm, and this week, he said most, including the Federal Reserve, are oblivious to the upcoming crash.

Yields have risen to levels not seen since before the 2008 crash. More significantly, the yield curve is flattening, according to Schiff. 

According to Seeking Alpha, Schiff pointed out, if you go back to the Second World War and look at average bond yields, these low rates are an aberration. They’ve been low for a long time, but they aren’t going to stay low forever. And yet the market seems to think it’s going to go on for another 30 years.

“Clearly, the market assumes that interest rates on 10-year government bonds are going to stay just barely over 3% for the next 20 or 30 years. I mean, that is crazy. Why would anybody think that?”

Just consider the deficits as well. The federal government is running $100 billion per month budget deficits – and this is during a supposed economic expansion. What’s going to happen when we hit a recession? And of course, rising interest rates just compound the problem. As Treasuries come due, the government has to replace them with higher interest rate bonds. This expands the deficit even further.

Also compounding the problem is the money printing scheme the Federal Reserve has taken to.  Why in the world would any rational person assume inflation will remain low?

We also have interest rates at around 3% and there is already some handwringing and nervousness. But as Peter said, they could easily blow through four or even 5%. The Fed keeps saying it plans to reduce its balance sheet, but it hasn’t sold very many bonds to date. What happens if they follow through with tightening plans and start dumping bonds on the market?

If [the Fed] continues to stay on this path, or at least the rhetoric is on this path, rates could blow through 3% like a hot knife through butter.”

Schiff then discussed Minneapolis Fed President Neel Kashkari, who said they [the elite globalists that run the Federal Reserve] can’t find any signs of an impending crisis. He said there are no warning signs at all.

“Well, of course, that’s exactly what they said in 2007 and 2008. In fact, even when there was the mother of all warning signs – the crash of the subprime market – the Fed looked at that and said, ‘That’s nothing. It’s contained.’ We’re not worried about that.’ So the Fed has already proved when it comes to warning signs and seeing them in advance, they’re like Mr. Magoo. They have no idea what’s going on. And in fact, just like Mr. Magoo, they create all kinds of havoc all around them as they blindly move through the economy having no idea what’s going on, and there’s just all kinds of carnage.We are headed for a massive financial crisis.”

Schiff has yet to change his mind: we are headed for some major problems in the economy and most are unaware and unprepared.

Iran Dumps The US Dollar: ‘The Dollar Has No Place In Our Transactions Today’

The nation of Iran has dumped the United States dollar in favor of the European euro amid tensions with Washington.  Tehran’s supreme leader has proclaimed that the “dollar has no place in our transactions today.”

According to RT, The governor of Iran’s central bank (CBI) Valiollah Seif said that Supreme Leader Ayatollah Ali Khamenei had welcomed his suggestion of replacing the dollar with the euro in foreign trade, as the “dollar has no place in our transactions today.” The new policy could reportedly encourage government bodies and firms linked to the state to increase their use of the euro at the expense of the American currency.

The dollar’s downward spiral continues as financial analyst Peter Schiff predicted in 2008 and has been warning of ever since.  Schiff pulled no punches when saying that the long-term trend for the dollar is essentially a slow death.

They’re going to print money until they revive the economy. You can’t revive the economy by printing money. They’re going to suffocate it to death. It’s going to die by hyperinflation. –Peter Schiff

France will start offering euro-denominated credits to Iranian buyers of its goods later this year to keep its trade out of the reach of US sanctions, said the head of state-owned French investment bank Bpifrance. According to CBI’s Director of Foreign Exchange Rules and Policies Affairs Mehdi Kasraeipour, the share of the greenback in Iran’s trade activities is not high. As part of a trade embargo, US banks are banned from dealing with Iran.

Last month, Tehran announced that purchase orders by merchants that are based on US currency would no longer be allowed to go through import procedures. The step followed an official request by the CBI and was specifically meant to address fluctuations in market rates of the US dollar. –RT

Iran is also seeking to develop cryptocurrencies to beat the United States at their own sanctioning game.

Iran developing national cryptocurrency to bypass US sanctions https://t.co/5rLrfPqyhU pic.twitter.com/Pt0LRg9Ylh

— RT (@RT_com) February 26, 2018

Tehran, which has long sought to switch to a non-dollar-based trade, had already signed agreements with several countries. It is also currently in talks with Russia on using national currencies in settlements.

While meeting with Russian President Vladimir Putin in November, Khamenei said the best way to beat any US sanctions against the two countries was joint efforts to dump the American currency in bilateral trade. He told President Putin that, by using methods such as eliminating the US dollar and replacing it with national currencies in transactions between two or more parties, the sides could “isolate the Americans.”

But Peter Schiff says that it’s the Federal Reserve that will crash the dollar.  Iran’s decision to no longer use the dollar will only add a small scratch to the gaping wound that’s the problem. Schiff holds firm that the consequence of the Federal Reserve manipulating the economy will be the crash of the dollar.

They [the Fed] actually made the bubbles bigger than the ones that popped. So now, the dollar’s collapse is going to be that much bigger, because it’s now a bigger bubble with more air to come out of it. And I think they have no more tricks up their sleeves. When this happens – it’s over. –Peter Schiff

Peter Schiff Economy Warning : ‘Enjoy The Calm Before The Storm’

Financial analyst Peter Schiff is warning to “enjoy the calm before the storm.” Schiff, who predicted the 2008 recession says that inflation and interest rates are about to go up much more than expected.

In his most recent podcast, Schiff basically said to enjoy things now, because the storm will eventually hit. With the United States 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. Many people now think the Fed will nudge interest 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.

The Fed is not going to be able to deliver the rate hikes the Fed is expecting, and again, it’s the expectation of more rate hikes that is what is keeping the lid on the price of gold. But it’s only a matter of time before the market blows the lid off and the price of gold goes up. –Peter Schiff

Peter said gold is basically trading sideways right now, in advance of a breakout. Meanwhile, the dollar is doing the same thing in the other direction. The greenback is weak but not breaking down. On the other hand, it isn’t recovering any of its losses. Peter thinks it’s treading water right now before it heads lower again, according to Seeking Alpha. 

Of course, the economic growth was supposed to help “pay for” the tax cuts and the massive amounts of deficit spending. If the economic growth doesn’t materialize, the deficits will be even bigger and they are already going sky-high. On top of that, rising interest rates are going to increase the annual payments on the debt.

So, these deficits are blowing through the roof and this is going to be the driving force in moving the dollar substantially lower and moving gold substantially higher.

We are in the perfect storm, I think, of massive explosion in deficits, not just the budget deficit but the trade deficit, these tariffs or a trade war is only going to compound the problem. We’ve got the economy weakening. We’ve got the dollar teetering on the brink of collapse. We’ve got gold about to break out and the bond market is in the same thing.

Right now, everything seems pretty calm on the horizon, but we are in the calm before the storm.

The three major markets – bonds, gold, and the dollar – are all moving sideways, getting ready to continue their most recent moves, which for gold is up, for the dollar is down, and for bonds are down, which means interest rates are up – and it’s one, two, three strikes and you’re out.

Peter Schiff: ‘Nobody Is Prepared For The Long-Term PAIN That’s Coming’

Peter Schiff has been saying that this is a bear market for a few weeks now, and it looks like president Donald Trump may have just gotten the same memo. While Trump said some investors may feel some “short-term pain” in the market, but Schiff says it’s actually going to be long-term pain.

According to Seeking Alpha, Trump says any short-term market pains will all be worth it because we will get long-term gain, referring to the benefits we’ll reap when we win the trade war. In his most recent podcast, Peter said that’s not at all how it’s going to play out, though.

“We’re going to have short-term pain and then the pain is going to get worse in the long-run,” Schiff said.  Schiff is a financial and market analyst who predicted the 2008 recession. But Schiff says the bigger problem, is that nobody is ready for any pain at all.

Schiff says that the real problem is the government itself. Policymakers aren’t willing to take the steps necessary to reap long-term benefits. Those steps would have to include a major cut in government spending, a cut in entitlements, cutting defense spending, and shutting down government agencies and government departments. And we couldn’t agree more.  Government spending is out of control and people struggle to get by with the tax burden levied on them, and that will only worsen when a Democrat takes power.

There would be some short-term pain that would deliver some long-term gain. How about if the Fed normalizes interest rates and lets the bubbles collapse, lets people lose money, lets the markets restructure? That is short-term pain for long-term gain. That is what a real free-market recession is like. Let the government get out of the way. Let the central bankers get out of the way, and let the free market correct the imbalances and create a good foundation where we can build a lasting, sustainable, viable recovery.

But Schiff says that’s not what President Trump is all about. He’s about avoiding the short-term pain by kicking the can down the road, just like every other president in modern history.

This is a time bomb. The debt keeps going up. Every day we’re closer to the crisis. Every day there is more and more debt, right? And so, every day that goes by, we’re one day closer to the debt imploding.

Schiff went on to detail what will go wrong if the Fed decides to make a move that no one is expecting.

Normally the markets are forward-looking. They discount things that they think are going to happen. Well, if you don’t think something is going to happen, how can it be discounted? So, it’s when the markets are blindsided, when they’re surprised, that’s when you see the biggest moves because they didn’t get discounted in advance. You can’t buy the rumor and sell the fact if you’ve never bought the rumor because you don’t know there’s a rumor or you don’t believe it. So when the fact happens, nobody is positioned for it. Nobody is prepared for it. And that’s where we are in the gold market. That’s where we are in the gold stock market, in the bond market, in the US stock market. Nobody is prepared for any of the things that are going to happen because nobody believes that they are going to happen.

And Schiff says don’t get too attached to your tax cut if you actually benefited from it.  Once the Democrats take the White House and both houses of Congress, those tax cuts will not only go away but be raised substantially to pay for even more democrat government spending.

 

Peter Schiff: We Are In A Bear Market, All News Is Bad News

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.

Stocks dove Wednesday as well on the heels of China’s announcement that they will intensify the trade war with more tariffs, according to most analysts.  But Peter Schiff, the financial guru who accurately predicted the 2008 recession has a different take.

According to Schiff’s blog, Schiff Gold, most analysts blamed the plunge on the escalating trade war, but Peter Schiff sees it quite a bit differently. 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.

Schiff says that the media’s talking heads are simply using the tariffs as an excuse. The real truth is that most people are in a selling mood. “Stocks are expensive. The bull market is over. It’s now a bear market. People want to get out. People are allocating out. Growth is slowing whether people want to acknowledge it or not,” said Schiff.

The media pundits are optimistic too; just like they were before the 2008 recession, said Schiff. “That’s what’s going on now. Nobody thinks there’s a problem. Everybody is optimistic. Everybody is bullish. So, when you see these classic signs that something is going wrong, you just ignore it.”

The bottom line is Schiff thinks the economy is going to tank (although he isn’t sure how soon that will occur) and the stock market is going to continue its bear run. But the Fed is not going to be able to come to the rescue this time around because of inflation. If it does try to launch more QE to bail out the stock market, it will completely tank the dollar.

When we do all that, the dollar is going to implode because everybody is going to know that the experiment failed. Everybody is going to know there is no way out of this box. There is no normalization of rates that is ever going to happen. Their balance sheet is never going to shrink. The balance sheet is going to grow permanently, which means this banana republic debt monetization. They can no longer pretend that they’re not doing the same things as South American banana republics. It’s a pure ‘we just print money to finance government spending,’ which is going to explode.

The national debt is an often overlooked aspect of the economy, but in truth, it will play a big role in an economic collapse and Schiff is sounding the alarms.

Stocks Post WORST April Start Since The Great Depression

The S&P 500 closed down more than 2.4% Monday and the broad market index posted its worst April start since 1929.  This slide in the markets caused the worst start since the Great Depression, sparking fears we are on the same path.

The Dow Jones industrial average fell 1.9 percent (or 458 points) as China’s retaliatory tariffs against United States agricultural goods stoked fears of a global trade war. Dow stocks with large international markets now exposed to global tariffs such as Boeing and 3M, led the decliners.

Many market analysts have predicted we will live through another Great Depression, and Peter Schiff says this next one will be far worse than one our ancestors lived through. “The bad news is, we are going to live through another Great Depression and it’s going to be very different. This will be in many ways, much much worse, than what people had to endure during the Great Depression,” Schiff says. “This is going to be a dollar crisis.”

“The Fed thinks they create economic growth…by [saying] ‘let’s jack up the stock market and then the economy’s going to grow and people are going to go out and spend more money.,’” says Schiff. “It’s actually doing damage. If you create a bunch of phony wealth, and people end up spending money that they otherwise would have saved, you are undermining economic growth.”

And Schiff, who accurately predicted the 2008 recession, has now predicted the dollar crisis.  The dollar is now in a downward spiral thanks to China’s petro-Yuan.

Bespoke Investments Co-Founder Justin Walters, who also noted the historic nature of the close, said in an email that equity fears aren’t likely to abate until earnings arrive. “Based on recent market action, the bears clearly have control right now,” Walters wrote. “The path of least resistance is lower until something comes along to reverse that trend.”

Schiff, in contrast, says the deep state (those who operate the Federal Reserve) is not afraid to crash the economy on Trump’s watch.

Schiff says “it’s not a good thing” that the economy is going to crash and burn. “Unfortunately, that’s what Trump has inherited from Obama. But it’s not even really just Obama, it’s the federal reserve. It’s the monetary policy that has been passed like a baton from Clinton to Bush to Obama and now to Trump. And we’re near the end of the game and unfortunately, Trump’s gonna be the fall guy.  This thing is all gonna collapse while he’s president.”

The tax cuts will give Democrats a reason to blame the collapse all on the Republicans, says Schiff.And we are getting close to this collapse. –SHTFPlan

The trade wars with China is also the perfect smokescreen for an economic crash and will allow the mainstream media to wholly blame Trump when it happens.

I’m hitting readers with all of this because I am growing rather tired of the contingent of Trump apologists in the liberty movement scrambling to defend every single Trump action no matter how illogical. These people should know better. Sorry, but Trump is not “playing 4D chess” against the globalists. His primary actions have only served so far to create a useful distraction away from the globalists.

The disturbing key to all of this is the fact that many of Trump’s policies are things that I and many others have argued for in the past. The problem is, he is implementing them out of order and with bad timing, which will only make such policies appear destructive in the end, rather than constructive. –Alt Market.com

Trump is looking like he will be fall guy, and when the economy does crash; and it will, Trump won’t be able to do a whole lot to stop it – in fact, he will be seen as the cause.  His policies are slightly dangerous, but he and his “ride or die” supporters won’t state the truth and just like the mainstream media, they will tow the line with no real blame from either side going to where it belongs: The Federal Reserve.

Peter Schiff: There’s A BIG Problem With The Economy, ‘Americans Are BROKE’

Financial analyst Peter Schiff says there’s a big problem with the economy even though the mainstream media is reporting that rising interest rates are a good thing.  The problem, however, is that Americans are broke, and those interest rates could have a major impact on some of our wallets.

“The bad news is, we are going to live through another Great Depression and it’s going to be very different. This will be in many ways, much much worse, than what people had to endure during the Great Depression,” Schiff says. “This is going to be a dollar crisis.”

“When you are talking about the magnitude of the debt we have, that extra money [raising interest rates] is big. That’s going to be a big drain on the economy to the extent that we have to pay higher interest to international creditors…a lot of this phony GDP is coming from consumption, while the average American who is consuming is deeply in debt and they are going to impacted dramatically in the increase in the cost of servicing that debt…given how much debt we have, and how much debt is going to be marketed the massive increase in supply will argue for interest rates that are higher.” –Peter Schiff

 

Retail sales “unexpectedly” fell again in February even though most media outlets are touting a booming economy that can support raising the interest rates. It was the third straight monthly drop and the first time the US economy has seen three straight months of declining retail sales since 2012.

Sales fell 0.1% in February even though analysts had expected an uptick of 0.3%. According to CNBC, households cut back on purchases of motor vehicles and other big-ticket items, pointing to a slowdown in economic growth in the first quarter. But Peter Schiff won’t sugarcoat this one for us: Americans are broke.

And the worse things get, the less investors seem to notice.

What makes matters even worse is on Friday, we got the “too good to be true” and “just what the doctor ordered” Goldilocks jobs report that said 1 million people got jobs. Schiff said this “good news” report doesn’t make any sense, actually.

“So why didn’t any of those million people take their paychecks and spend them at a retailer? I mean, Trump is talking about all the great jobs, and all the raises that people have, and all the tax cuts. Why are retail sales down for three months in a row?” –Peter Schiff

Unfortunately, we also saw Americans running up record high levels of debt at the same time that the government is running massive deficits.

Last month, the New York Fed released the latest data on US household debt, revealing it has grown to a record $13 trillion. So yes, Americans have been spending, but they’ve been putting a lot of it on plastic. Credit card balances grew by $24 billion in the last quarter of 2017 alone. Could it be that Americans have maxed out the plastic?

At some point, a house of credit cards will collapse.

Schiff is hard on Donald Trump too, and rightfully so.  Lower taxes are always a good thing, the lower the better, in fact.  But Republicans refused to cut any government spending while instead, increasing it to the point of running massive deficits, making them worse than Democrats when it comes to being fiscally conservative.

The cold truth is that a back plan is needed, and most Americans don’t have that.  Many would be in some serious trouble during a financial downturn, and the country is most definitely headed that way.

Global Elitists: Bitcoin’s ‘Intrinsic Value Must Be Zero’, Bubble About To Burst

Allianz Global Investors, the investment arm of Europe’s biggest insurer, employees economists who say Bitcoin is absolutely worthless, and a bubble that’s about to burst. Allianz Global, which manages almost 500 billion euro, says Bitcoin “ticks off all the boxes” for a major asset bubble.

“In our view, its intrinsic value must be zero,” Stefan Hofrichter, the company’s head of global economics and strategy, wrote in a recent web post. “A bitcoin is a claim on nobody – in contrast to, for instance, sovereign bonds, equities or paper money – and it does not generate any income stream.”  Gold doesn’t generate an income stream either but has been a viable currency for over 2,000 years.

But according to Bloomberg, the investors at Allianz Global have more to say about Bitcoin. Additionally, they added that the world’s largest cryptocurrency “ticks all of the boxes” of the essential criteria for any asset bubble, including overtrading, “new-era” thinking and rising leverage, he wrote. Bitcoin mania is a textbook-like bubble, “one that is probably just about to burst.”

Hofrichter is far from the only person to make comments regarding Bitcoin’s value. Even Peter Schiff says the cryptocurrency is heading toward its “real worth” of $0.  University of Pittsburgh researchers have concluded it’s “an asset which has no value by traditional measures” and economist Nouriel Roubini called it the “biggest bubble in human history.”

Others, such as Jeff Berwick from The Dollar Vigilante, says that it isn’t the Bitcoin bubble we should worry about. We should be more concerned about the elites engineering an economic collapse and blaming the cryptocurrency as an excuse to ban or heavily regulate all sources of “money.” It is easier to believe the global elitists dislike Bitcoin, because of the mere fact that the currency is decentralized and regulating it is incredibly difficult.

But that doesn’t stop many in the global economy scene from continuing to bash Bitcoin while passively admitting the risks are small. “Bitcoin’s demise would have few spillover effects on the ‘real world,’ since the market for this cryptocurrency is still quite small in size,” Hofrichter said. “As a result, we believe that the risks to financial stability stemming from bitcoin are negligible — at least as of today.”

Google has also come out swinging against Bitcoin, saying it will ban ads for all cryptocurrency. Remember, the elites that run things are actively trying to keep things from the public.  There’s probably a very good reason why tech giants and the globalists who run them don’t want people involved in cryptocurrencies.  “Improving the ads experience across the web, whether that’s removing harmful ads or intrusive ads, will continue to be a top priority for us,” said Scott Spencer, Google’s director of sustainable ads, in a blog post. The post did not explain why digital currencies may be harmful.

This follows a similar move by Facebook as a part of an effort to” clear unregulated financial products off its platform.” Does anyone catch the keyword “unregulated” in there? If the elitists can’t control your money, they can’t control you.

Peter Schiff: ‘We Will Live Through Another Great Depression Which Will Be MUCH MUCH WORSE’

Financial guru, Peter Schiff, who accurately predicted the recession of 2008 says the problems we face now are even bigger. We will live through another Great Depression if Schiff is correct. And One of the main concerns is something very few dare to even mention or show a concern about: the national debt.

Schiff’s podcast from a few days ago highlights a very important problem with not only the economy as we know it but the mainstream media as well.  Unable to take their attention off gun control regulations for even a moment to focus on a much bigger concern, the national debt, the mainstream media is effectively trying to hide what’s coming down the pipe.  The lack of coverage seems to be spurring a lackadaisical attitude about the almost $21 trillion debt.

Let’s start at the beginning. Schiff begins his podcast talking about a book his father wrote; one of the only books to have been banned by the United States government. Yes, the US government banned a book titled “The Federal Mafia: How It Illegally Imposes And Unlawfully Collects Income Taxes” by Irwin Schiff in the “land of the free.”

“The bad news is, we are going to live through another Great Depression and it’s going to be very different. This will be in many ways, much much worse, than what people had to endure during the Great Depression,” Schiff says. “This is going to be a dollar crisis.”

“These hot inflation numbers that we’ve been getting are going to get a lot hotter…all this inflation that has been in the financial markets, in the stock markets, in the bond market, in the real estate market, everybody loved inflation when it was making you rich…the problem is going to be when it makes you poor. That’s when it starts showing up in the cost of living; all the things you need to buy end up being a lot more expensive.”

“When you are talking about the magnitude of the debt we have, that extra money [raising interest rates] is big. That’s going to be a big drain on the economy to the extent that we have to pay higher interest to international creditors…a lot of this phony GDP is coming from consumption, while the average American who is consuming is deeply in debt and they are going to impacted dramatically in the increase in the cost of servicing that debt…given how much debt we have, and how much debt is going to be marketed the massive increase in supply will argue for interest rates that are higher.”

“The Fed thinks they create economic growth…by [saying] ‘let’s jack up the stock market and then the economy’s going to grow and people are going to go out and spend more money.’ It’s actually doing damage.  If you create a bunch of phony wealth, and people end up spending money that they otherwise would have saved, you are undermining economic growth.”

“Everything the Fed has done has undermined real economic growth, that is why this coming collapse is going to be so devastating,” says Schiff. “It’s shrinking government that grows the economy.  When you make government smaller and you free up resources back into the private sector, that’s what grows the economy.”

 Schiff again suggests looking at gold as a way to protect yourself against the dollar’s collapse.

Prepping is often difficult and if you’ve just begun, a great resource is a book titled “The Prepper’s Blueprint.”

4 Analysts: Stock Market Plunge Is A DEEP STATE ‘Nuclear’ Attack On Trump

The deep state may finally be stooping to even lower levels in order to remove Donald Trump from office.  Since all major financial collapses are planned, many have concluded that the deep state will destroy the stock market to attack Trump.

Following President Donald Trump‘s approval for the release of the damning FISA memo that proves Hillary Clinton and DNC collusion with the Obama regime to illegally spy on Trump campaign officials, the deep state is now “going nuclear” by attempting to decimate the stock market and remove Trump from power. According to Natural News, many analysts are sounding the alarm.

Four prominent opinion leaders across independent media are now saying almost the same thing. They are Peter Schiff, Michael Savage, Alex Jones, the Health Ranger, also known as Mike Adams.

 “Unfortunately, that’s what Trump has inherited from Obama. But it’s not even really just Obama, it’s the federal reserve. It’s the monetary policy that has been passed like a baton from Clinton to Bush to Obama and now to Trump. And we’re near the end of the game and unfortunately, Trump’s gonna be the fall guy.  This thing is all gonna collapse while he’s president.” -Peter Schiff

“Trump’s stirring SOTU speech last week was so great that even CBS admitted 75 percent of the people who watched it approved of it and loved it. So what happened right afterwards? The Establishment, meaning the ‘Deep State,’ call it whatever you want, went into overdrive to destroy Trump, or try to destroy him, where he is strongest, because they couldn’t get him where they thought he was weakest. So they are taking the market down. They are trying to hurt you. They are the enemies of the average American. Make no mistake about it, they are going for you! These people are so evil and so power-drunk that they’d burn the nation to the ground rather than let Donald Trump live another day in office.” –Michael Savage

“The mainstream media… is in the news simultaneously trying to drive down markets [by] saying, “For those of you who supported Trump, his antics are the reason why the stock market is down.” No, it was up three trillion plus dollars because of exuberance, the talk of tax cuts and the belief that America was back to being business.” -Alex Jones

“The deep state will do anything and everything to get Trump out of office. If they have to shoot Air Force One out of the sky, they will.  If they have to kill tens of thousands or hundreds of thousands of Americans, the deep state will do it because they don’t care, they only need Trump gone. Would they drop a nuke on Seattle to kill Trump? You bet they would. The deep state is desperately trying to cling to power.” –Mike Adams, The Health Ranger

“The rigged markets that now seem to defy gravity will be deliberately and destructively imploded under President Trump for all the obvious reasons. There will be financial chaos like we’ve never seen before: Investors leaping off tall buildings, banks declaring extended “holidays” that freeze transactions, and California pensioners slitting their wrists after they discover their promised pension funds were just vaporized by incompetent bureaucrats…The Trump administration will be targeted for termination via a punitive, engineered financial firestorm…–Mike Adams, The Health Ranger

Notice the similar theme…take out the economy, blame Trump, install a communist globalist dictatorship in place.  It’s clear that deep state elements are unleashing a “nuclear option” to decimate this nation as a strategy to remove Trump from power (and de-legitimize Republicans forever).  Anyone who turns on the mainstream media’s news broadcast for even a few moments can tell the bias and propaganda is obvious.

When it comes to big moves in the stock market, there are no coincidences.

Peter Schiff: ‘The Price Of Gold Is Going To Soar’ And ‘The Dollar WILL Collapse’

Peter Schiff recently attended the Vancouver Resource Investment Conference. While he was there, he did an interview with Daniela Cambone of Kitco News and Schiff said gold is going to soar.

But Schiff (who predicted the 2008 recession) also explains why he believes now may be a good opportunity to invest in physical gold. Schiff said that the standard sentiment shared by many is that once the Federal Reserve jacks up interest rates, gold will stay level and unaffected. But that didn’t happen. Schiff said that the yellow metal has surprised the initial expectations that it would fall when the Fed raised rates; gold has climbed 9% since the Fed hiked last month.

Gold has not really rallied. It’s been going up, right? But it’s been creeping higher. Now, everybody expected it to fall. Everybody believed that as soon as the Fed hiked rates, gold’s gonna tank. And it didn’t tank. It rallied. -Peter Schiff

Investors tend to sell the rumor of rate hikes and buy the fact when in reality, the higher interest rates are not bearish for gold. But as Peter points out, that mindset still exists in the market.

But you know, the Fed keeps raising rates a little bit, every once in a while, and everybody still believes that, well, the Fed is raising rates, so that’s bearish for gold. So, everybody expects gold to fall, yet it continues to creep higher. But I think once it overcomes some of this resistance –  it has a lot of resistance around $1,350 – and I think if we can decisively move above that and then get above $1,400, just to make sure it’s cleared out, then I think it’s off to the races.

Schiff also touched on the optimism in the markets, as he so often does, claiming still that the tax cuts won’t help much because the size of government hasn’t shrunk.  He also says the rising interest rates will suck up the benefits of those tax cuts either way.

 These tax cuts are not going to provide the economic boos that everybody believes.

I think the impact of rising interest rates and rising consumer prices will more than offset whatever benefits are to be had from the tax cuts. So, I think the economy is going to be weaker despite the tax cuts. I still think we’re heading into recession.

It’s rare to have this much optimism, but there are more problems now than there’s probably ever been, yet everybody is overlooking that. So, at some point, people are going to rush into gold, and the problem is there’s no one that’s going to rush out. So the price, I think, is just going to soar. I think you’re going to see 50 or 100 dollar moves per day up in the price of gold, once we break out.

Schiff holds firm that the consequence of the Federal Reserve manipulating the economy will be the crash of the dollar.

They actually made the bubbles bigger than the ones that popped. So now, the dollar’s collapse is going to be that much bigger, because it’s now a bigger bubble with more air to come out of it. And I think they have no more tricks up their sleeves. When this happens – it’s over.”

 

 

Peter Schiff: Bitcoin Heading To $0, Many Bitcoin Investors Will Lose EVERYTHING

Investor Peter Schiff is warning once again about Bitcoin’s massive speculative bubble. Schiff, who is well-known for predicting the 2008 financial crash, is saying it’s those who are buying in now will be the most vulnerable when Bitcoin hits $0.

“People who got it years ago, even people who got it at the beginning of the year have the opportunity to cash out and make a lot of money. But people who are buying it at these prices or higher prices are going to lose practically everything,” Schiff told RT International Channel. Bitcoin is speculative bubble set to burst at any time, and when it does, many will lose everything.

Schiff’s main concern with Bitcoin echoes that of many preppers, including Mike Adams, the Health Ranger.  “These currencies are going to trade to zero or pretty close to it when the bubble pops,” predicts Schiff. “Right now, the only reason why people are buying bitcoin is because the price is going up. When it turns around, they are not going to sell it for the same reason. There is no value in bitcoin, you can’t use it as money,” Schiff points out. “It’s too slow, too expensive and too vulnerable.”

It also doesn’t physically exist in the way gold and silver do. According to Schiff, there is a problem with fiat currencies. However, there are 1,300 digital currencies with massive inflation. “Even bitcoin itself has spun off bitcoin cash, bitcoin gold. There is no limit to supply of bitcoin-branded worthless tokens that can be created,” he said. But as soon as the price begins a downward trend, Bitcoin will implode.

In the video below, Schiff discusses whether or not buying into Bitcoin is like buying a lottery ticket.

“The only value in the cryptocurrency now is the fact that it’s going up,” Schiff says. “And people are buying it because they believe they’ll be able to sell it to somebody else who also thinks it’s going to keep going up because he can buy it, he can sell it to somebody else who has the same outlook. But as soon as the currency really starts to decline, it’s gonna implode and eventually, it will go down to its true value…I think the ultimate value is going to be $0.”

Schiff says cryptocurrencies are also fiat currencies and stands by his assessment that gold is a real alternative to the mess created by all of the fiat currencies (including the United States’ dollar) which have no real value in the end.

Bitcoin Plummets Below $14,000; Peter Schiff Says "Mark It Zero"

Update: 1005ET: The carnage across cyrptocurrencies has escalated with Bitcoin back to a $13K handle, Ethereum back below $700, and Bitcoin Cash below $2,600...

Bitcoin is now almost $6,000 off its record high...

For those who are keeping track...

• $0000 - $1000: 1789 days


• $1000- $2000: 1271 days


• $2000- $3000: 23 days


• $3000- $4000: 62 days


• $4000- $5000: 61 days


• $5000- $6000: 8 days


• $6000- $7000: 13 days


• $7000- $8000: 14 days


• $8000- $9000: 9 days


• $9000-$10000: 2 days


• $10000-$11000: 1 day


• $11000-$12000: 6 days


• $12000-$13000: 17 hours


• $13000-$14000: 4 hours


• $14000-$15000: 10 hours


• $15000-$16000: 5 hours


• $16000-$17000: 2 hours


• $17000-$18000: 10 minutes


• $18000-$19000: 3 minutes


• $19666-$14000: 4 days

ETH and BCH in trouble too...

In fact almost the entire crypto space is collapsing with Ripple the only gainer for now...

There continues to be no obvious catalyst for the run.

Volume is heavy in futures tonight too...

 

The question is - which happens first - Bitcoin $10,000 or Gold $1,300?

*  *  *

After an exuberant few days following Coinbase"s adoption of Bitcoin Cash, the forked currency has collapsed back below $3,000...

For the 4th night in the last 5, someone has started slamming Bitcoin at around 8pmET, pushing the biggest cryptocurrency back below $15,000 for the first time in two weeks...

Catalysts for the drop are unclear other than systematic selling pressure as Asia opens. There was chatter about the lack of security in South Korean local exchanges, but it is unlikely that is the cause for now.

Since CME launched its futures contract, Bitcoin has been under pressure and renowned market watcher Peter Schiff is pretty clear where he thinks this ends up...

As CoinTelegraph reports, speaking to RT this week, renowned analyst Peter Schiff, credited for predicting the 2008 housing market collapse, issued a foreboding warning to investors buying Bitcoin at current prices.

Even with a shaky week, Bitcoin is hovering around the $15,000 mark, after a two-month bull run that saw the price rise by more than 200 percent.

Schiff says those trying to ride the bubble are too late:

“People who got it years ago, even people who got it at the beginning of the year have the opportunity to cash out and make a lot of money. But people who are buying it at these prices or higher prices are going to lose practically everything.”

The old adage, “buy on the rumor and sell on the news,” seems to be the perfect way to sum up Schiff’s sentiments on the current attitude of green investors trying to make a quick buck out of Bitcoin:

“These currencies are going to trade to zero or pretty close to it when the bubble pops. Right now, the only reason why people are buying Bitcoin is because the price is going up. When it turns around, they are not going to sell it for the same reason."

He also voiced by now common criticism of Bitcoin Core’s transaction functionality, noting the low speed and high cost of transactions on the network:

“There is no value in Bitcoin, you can’t use it as money. It’s too slow, too expensive and too vulnerable.”

Still with gold"s recent weakness, we are sure Peter has more than  a small ax to grind on this one.

Peter Schiff Warns Of CRASH: ‘Everybody Is Going To Get Wiped Out!’

This coming crisis will hit everyone in the wallet.  Money manager Peter Schiff who accurately predicted the 2008 financial crisis can already see the writing on the wall, and everyone is going to get wiped out.

Schiff says that this time, gold will explode and the dollar will be wiped out. USA Watch Dog‘s Greg Hunter interviewed Schiff about the impending financial disaster we are facing. Almost ten years after the 2008 meltdown, Schiff had this to say:

“I predicted a lot more than just the stock market going down back then.  I predicted the financial crisis, but more importantly, I predicted what the government would do as a result of the financial crisis and what the consequences of that would be because that’s where we’re headed.  The real crash I wrote about in my most recent book is still coming. . . . This is the third gigantic bubble that the Fed has inflated, and when this one pops, it’s not going to be ‘the third time is a charm.’  It’s going to be ‘three strikes and you’re out.’  I think this bubble is too big to pop.  I think it’s the mother of all bubbles, and when it bursts, there is not a bigger one that the Fed is going to be able to inflate to mask these problems, meaning we can’t kick the can down the road anymore.” –Peter Schiff

Schiff thinks it could get even worse too.  It could go beyond just a financial crisis.

“I think the problem we are going to be confronted with is going to be much worse than a financial crisis.  It is going to be a dollar crisis, and it is going to be a sovereign debt crisis where the bonds people are worried about are not some sub-prime mortgages. . . . It’s going to be the U.S. government that people are worried about and the solvency of the U.S. government and the Treasury bonds.  If it’s a dollar crisis and people are worried about the dollar, the only thing worse than owning a dollar today is owning the promise of being paid in dollars in the future.  I don’t think we have the courage to default and admit to our creditors that we don’t have the money and we can’t repay.  I think we will create all the money that we need so we can pretend to repay, but what we end up doing is wiping out the debt with inflation.”

Inversely, Schiff says it is the same with the suppressed gold and silver markets.

“They can’t keep doing it, and it will end.  It’s just like how much debt can we take on.  It’s not an unlimited amount.  We will know when we get there.  How long can they keep the price of gold suppressed?  We will know when we get there.  At some point, the price is going to explode because there is real physical buying, and all that paper selling can’t camouflage that. . . . People don’t trust fiat currencies . . . . More and more people are looking for alternatives, and the real alternative is gold.  When they embrace it, it’s going to overwhelm central banks’ ability to suppress the price.  In the meantime, enjoy the gift that they are giving.”

Schiff also said no one knows when this is going to happen for sure, only that it will happen, and you are better off to be prepared in advance. “A crisis rarely stops with a triggering event. The aftermath can spiral, having the capacity to cripple our normal ways of life. Because of this, it’s important to have a well-rounded approach to our preparedness efforts,” says the description of the book, The Prepper’s Blueprint.

It may be the time we all take a step back and consider the impact the government has had on what Schiff says will be the ultimate destruction of the dollar and prepare as best we can.

Peter Schiff Warns: "Nothing Has Changed Under Trump... We're Headed For A Major Crisis"

Authored by Mac Slavo via SHTFplan.com,

When Donald Trump was elected, there was so much optimism among libertarians and conservatives, it was almost palpable. However, it’s only been several months into his first term, and it’s becoming quite apparent that Trump is no savior. In retrospect, it was foolish to think any single person could snap his fingers, and reverse decades of financial mismanagement and political corruption. It was foolish to think that he could dismantle an entrenched bureaucracy that is more powerful than most people realize.

But not everyone was convinced that Trump was going to be able to turn this ship around. Peter Schiff knew that the damage done by the political establishment was irreversible, and that our financial system was living on borrowed time. In a recent interview with Future Money Trends, Schiff explains why Donald Trump can’t stop the inevitable, and how you can crash proof your assets ahead of the economic pain that is coming:

Donald Trump should already be disappointing a lot of people who thought we were going to get change, we were going to make America great again. We didn’t repeal Obamacare, that’s here to stay. Major tax reform is dead. We’re dropping bombs.

I mean it’s the same old same old right? Big government… bigger deficits… more cheap money… keep the air in the bubble. We’re headed for a major major crisis.

Watch the full interview with Peter Schiff:

(Watch At Youtube)

As for what that major crisis will be, it’s not what most people would expect. As Schiff points out, it’s not going to be triggered by one sector of the economy, as we saw in during the last financial crash. The crisis is going to emerge with the dollar itself, which Schiff says could cause precious metal prices to soar. Everyone is taking for granted the fact that the dollar is king, but it’s not going to be for long. Not when our government continues to rack up debt like a compulsive gambler; which at this point, doesn’t appear to be changing under Trump.

The dollar is living on borrowed time, literally. And so we just don’t know. It’s like a bomb with a fuse, but we just don’t really know how long the fuse is. The dollar, I think is in a major bubble. I think it is in the process of topping out. I think once it completes this top it’s going down. And I think it’s going to take out the lows from 2008…

…I think it’s going to go down for the count. Because the last time, what saved the dollar was the financial crisis, and that crisis resulted in everybody buying the dollar. But I think the next crisis is not going to be the same crisis that we had in 08. I think the dollar is going to be the crisis. I don’t think it’s going to be a bread and butter financial crisis.

This is going to be a currency crisis. So it’s going to be the US government. It’s not going to be the mortgage markets that’s blowing up. It’s going to be the treasury bond market that’s blowing up. It’s going to be the Federal Reserve that’s blowing up. And this is going to be a major major negative for the dollar, not a positive.

We really don’t know how long that fuse is, but there’s no doubt that it’s been lit. There is a frustrating truism in economics. You can easily predict if something bad is going to happen, but you can never predict when it’s going to happen.

That’s because the economy is built on numbers that are easy to calculate, but it’s impossible to predict how people will react to those numbers. In our case, people don’t want to believe that this economy is built on a house of cards and that their standard of living is in jeopardy. That willful ignorance, that confidence, can keep the show going long after the curtain should have been drawn. However, no amount of confidence can keep an unsustainable system running forever. Eventually, reality becomes impossible to ignore.

Trump doesn’t want to preside over a major decline in our standard of living, but ultimately that has to happen. Because this is the consequence of all this excess consumption that went on before he was president. You know, we sacrificed our future to indulge our past. The future is now the present. We’re here, and it’s time to pay the piper.

There’s only one thing you can do, according to Peter Schiff. Prepare yourself and your family with real assets like gold and silver that will keep your finances afloat during the next currency crisis.