Sunday, May 26, 2013

The Fed Will Add Even More Stimulus, Not Less

Peter Schiff: "[P]eople who talk about the Fed taking away the punchbowl are wrong. The Fed is not going to do that," "Unfortunately, it's going to keep spiking the punch. The $85 billion a month is not enough to keep this phony economy from imploding. The Fed is going to have to increase the size of its monthly QE."
"If the Fed withdraws the stimulus, the economy will be in a worse recession than in 2008 and 2009. That doesn't mean the Fed shouldn't do it But had the Fed done the right thing in 2008, we wouldn't be in this situation.""The fundamentals have never been better for gold. The fact that there’s so much negativity in the mainstream investor community and the media, I think, is an excellent sign," he explained. "The gold market kind of stagnated after the speculators jumped on board in the last year or two — we haven’t really made new highs. And now that we’ve gotten rid of all that dead weight, the market is clear to make new highs." - in Index Universe

Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.

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