THE PETER SCHIFF BLOG : An Unofficial Tracking of Peter Schiff and The Libertarian Austrian School of Economics
PETER SCHIFF
Sunday, October 10, 2010
Peter Schiff Responds to William Dudley
by Peter Schiff
NY Fed President William Dudley's outrageous statements today closely conform to recent pronouncements from other Fed officials and confirm that a massive round of dollar devaluation is poised to begin.
Seemingly overnight, the Fed appears to have altered its mandate, ditching its former goal of "price stability" in favor of "moderate price inflation." While no one is under the illusion that the Fed has kept prices stable over the last century, it used to be that the governors would at least pretend to fight inflation. Low inflation used to be the aim, now it's the enemy.
Although the inflation being created by the Fed may not be showing up immediately in rising rents or auto prices, it is nevertheless pushing up asset prices in other areas. Many commentators are celebrating the "best September for the Dow and S&P in 71 years," rising 7.7% and 8.8% respectively. Well, it was also a pretty great September for soybeans (up 9.5%), rice (up 10%), oil (up 11%), corn (up 12.2%), orange juice (up 13%), cotton (up 17.5%), and sugar (up 19.3%). In fact, the whole CRB is up 8.7%. The Swiss franc is up 4.6%, the euro up 7%, the Aussie dollar up 9%. Gold is at all-time highs, silver at 30-year highs, and copper at 3-year highs.
read entire article
Labels:Peter Schiff ,Ron Paul
William Dudley
Subscribe to:
Post Comments (Atom)
Popular Posts This Month
-
A very strong debate yesterday on MSNBC between Peter Schiff and the host on the Ed show on two major topics the healthcare reform and the s...
-
The Dollar will collapse the Credit cards bubble is about to burst , buy Gold Buy Silver save your assets ...The dollar will drop like a sto...
-
Here are some of Peter Schiff's Quotes , Please feel free to post more , and I'll make sure to add them to this list ...let's ma...
-
as you may have noticed it this morning many blogs hosted on blogger including mine were reporting this strange Error bX-r1ezpk ... fortuna...
-
government created jobs like the census jobs are counterproductive and unproductive jobs ... Peter Schiff is considering to run for Senate !...
-
President Obama delivers his weekly address to the nation announcing many cuts in the federal budgetWhat do you guys Think of this ???
-
Presented by Robert P. Murphy at the "Economics for High School Students" seminar. Recorded at the Mises Institute in Auburn, Alab...
-
Once again, someone Cenk Uygur trying to debate Peter Schiff simply lacks the finance and economics knowledge to do so . The Young Turks al...
-
Trading 2010: Schiff's Predicting what is in store for 2010, with Peter Schiff, Euro Pacific Capital president. Peter David Schiff , pr...
No comments:
Post a Comment