Wednesday, August 27, 2014

Peter Schiff: Gold Update, US Economy-Downhill from Here, Janet Yellen-More Stimulus Coming & More

 Peter Schiff - Gold update and more money printing coming! Forget about the Federal Reserve stopping its loose money policy. Peter Schiff says the recovery is a “mirage.” Fed Head Janet Yellen will be forced to act, and Schiff predicts, “Yellen is going to say, we just need an even bigger dose. The patient is sicker than we thought. That’s why it’s not responding to our monetary medicine. So, we need even more. More money printing is not going to work, and it will make it worse.” Schiff goes on to say, “Remember, Janet Yellen is the most liberal Fed Chair we’ve ever had. No Republican is going to reappoint her. So, her only chance of having a second term is for a Democrat to be in the White House. So, she has a lot of selfish interest in doing what she can to help the economy, and she believes what helps the economy is printing money. . . . She is going to pull out the stops. It’s going to be monetary pedal to the metal. So, there is a lot more stimulus coming. The official government measures of inflation, that doesn’t even come close to accurately measuring how bad it is, those official measures are going to get worse.”

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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