👉Mortgage Crisis has Begun Mass Foreclosures & Mortgage Market Mayhem.

👉Mortgage Crisis has Begun Mass Foreclosures & Mortgage Market Mayhem.


4.7 million Americans cannot pay their mortgages right now. That's a million and a half more than in 2008. In May, 8.8% of mortgages are in forbearance. One-third of the American tenants stopped paying their rent. Millions of Americans unable to pay May's rent and mortgage.Up To 30% Of All Mortgages Will Default In Biggest Wave Of Delinquencies In History. The Mortgage Market Is On The Verge Of Collapse. The Mortgage Crisis has Begun, with mass foreclosures and mortgage market mayhem. Americans affected by the coronavirus pandemic are struggling to pay their rent when they have lost income. More and more tenants are protesting, paying their rent. Missed rent, in turn, adds up to landlords who can’t pay their mortgages or property tax. And then cities and states will struggle to provide the basic services that tax payments fund. Tenants can't pay their rent. Then owners can't pay their bank mortgage. Then the banks collapse. Welcome to the future, folks.And what about the Ponzi scheme that allowed the mortgages to exist at all? A Ponzi scheme with no incoming payments collapses. And that is exactly what is going to happen. But don't worry, the bank executives will be just fine. The economy’s dead, and as is standard practice these days, the autopsy report will make no mention of pre-existing conditions or diseases, it will just say Corona. In Los Angeles County, they announced tax increases starting June. So a bunch of people lost their jobs, and oh yeah, your taxes have gone up. It is insane that construction workers pay more in taxes than amazon or Jeff Bezos, who’s worth around 130 billion dollars. State and Federal government tax everyone at an average rate of 7% on everything. Corporations get their money from the exploitation of the working class' labor. Large corporations got their tax breaks even when the economy was booming. Ordinary folks can't get a break even when they can't pay. April and May are pretty irrelevant. The crisis has barely even hit. Just wait and see how those numbers change in the next few months after the real fallout from this crisis hits and after the unemployment money potentially runs out. The first $2.2 trillion bailouts will take us out to about the beginning of summer. Then what? In the coming months, there's going to be a wave of defaults within 6 to 8 months that will make 2009 look like a blip. Skid Rows will be created all over America. Even before this crisis, a lot of Americans were living paycheck to paycheck. Some were spending more than half of their take-home on rent alone. Now that they're stuck at home and don't know when they'll get back to work, they've got some tough choices to make. More than 38 Americans have filed for unemployment since mid-march leading to long lines sneaking into food banks from coast to coast and rent strikes across the country, from New York to Los Angeles. More than one-fifth of Americans said they had little or no confidence they can pay the next month´s rent or mortgage on time, a survey found. In April, we witnessed the largest single-month jump that has ever been recorded. Mortgage delinquencies surged by 1.6 million in April, the largest single-month jump in history, according to a report from Black Knight, a mortgage technology and data provider. The data includes both homeowner's past due on mortgage payments, which aren’t in forbearance, along with those in forbearance plans and who didn’t make a mortgage payment in April. At 6.45%, the national delinquency rate nearly doubled from 3.06% in March, the largest single-month increase recorded, and nearly three times the prior record for a single month during the height of the financial crisis in late 2008, Black Knight said. Frustrated and struggling Americans took to the street across the country in rent strike as bills come due, and families face hard choices. Many states have suspended evictions or foreclosures during the pandemic. The governor of New York said, there's a moratorium you can't evict anybody for three months. California and many other states and cities have followed suit, pausing evictions for the next two to three months. A growing movement is now calling for a rent strike. But after three months, In July, the eviction notices are going to come, the homelessness problem is going to rise, and the real economy is going to be sacrificed to the financial sector. The American economy will look pretty much like Greece. It'll be in austerity. There will be people who don't have jobs. They are going to be evicted from their apartment. They will have to run through the savings. They will not be able to pay their credit card debt and other debts. So arrears are going to rise, and the banks will be squeezed. And Trump says the one thing we can't save the people, but we can save the banks. The Federal Reserve has enough money to keep all the banks afloat even if they're not getting the mortgage payments, even if they're not getting the debt collection. And the banks can now make up for the money they're not getting by having a huge new market lending money to private capital and to the large companies to buy out all of these small businesses that are going under. It's a bonanza. And that's what Trump said that'll make the country rich again, meaning the 1%. Not a problem when the Government prints money, and the peasants don't have to rely on the elites to lend to them. Or is using the "magic wand" only okay when it comes to bailing out the wealthy, propping up their portfolios by manipulating the stock market. As a result of Wuhan flu, most companies in the US declare bankruptcy, financial institutions stick their hands out to Fed, Fed fills their pockets. Companies borrow from financial institutions (again), lenders on hook for unlimited amounts of money with no fear of risk. Rinse and repeat. The FED balance sheet (the one we get to view) will be 12-18 trillion in the next 6-12 months. All hands on deck to keep the stock and bond market from imploding. They are going to cannibalize and feed everyone to their friends on top. We see the collapse of civilization as we know it. And, This is only the beginning. We have a $22T debt owed to a private central bank. That is the problem. They buy bonds and flood the country with money. Then, those 10-year bonds mature, and money is transferred from wherever it was, back to the central bank. That is the problem—private central banks. There is no way out peacefully. The powers that be think inflation is prosperity. They are firmly squeezing the economy into hyperinflation, where they own everything, and the people are left to perish. The banksters don't need us anymore, and the real disastrous calamity has yet to occur. This is the retirement of bonds purchased by the fed for QE2. There's a 3rd wave, due over the next year. Ten years from QE1 happened in 2018. This is QE2. Quantitative easing 3 is due to retire shortly. The money supply will be hugely contracted. Money has only served to enslave those who can't create it from nothing. We need a new course, with or without money. Where your inspiration and drive can manifest tangible and beneficial results, everyone has some talent or ability that may or may not be harnessed, because of the question "how well does it pay?" It's not human nature to be selfish or greedy. That comes as a result of deprivation or scarcity. Some people may always behave that way, but if there were enough for everyone, that condition would surely subside. It will become our duty to rebuild this great nation. I hope we have the ability and the commitment to make it how the founders desired, with liberty and justice for all. The government causes the problem for the people, then the people go to that same government that caused their plight and expect different results. The government might keep you alive. But only self-sufficiency and your own critical-thinking will turn lemons into lemonade. Welcome back to The Atlantis Report. You are here for your daily dose of the truth, the full truth, and nothing but the truth. What is clear is that Americans don’t have savings. That most Americans are living paycheck to paycheck. Half of Americans have less than one month's savings. Even small business owners and entrepreneurs. We have the lowest minimum wage rate in the world. Things continue to get more and more expensive, yet wages never go up. For decades you lose if you have “savings.” Cash devalues 2-3% per year from inflation pre corona. The only yield for commoners to keep up was gambling in the stock market. Now that’s demolished and pilfered. Rip off capitalism for the Dollar printers and lenders (lending what they print that costs nothing) and theft of time and resources from the serfs. This is Feudalism 2.0. The message from state governments to all business owners large and small is, "You exist at our pleasure, and we can cancel you in a minute. You will kowtow, or you will not have a business anymore." I believe that was also the arrangement under feudalism. We destroyed that paradigm when this country was founded. Now we have reverted to it. What in God's name happened? 2/3 of landlords are renting rooms or one stand-alone house. They are not rich. The Government is the cancer, no matter the form. Anyone who is a landlord knows the precise point: "People dealing directly with people can figure everything out." The Hobbesian view of every man against every man is pure nonsense, as man's default condition is one of mutual cooperation. Of course, bad apples exist, but if Hobbes was right, humans would have gone extinct millennia ago. Government creates the discord, not people entering contractual, voluntary relationships. What we have now is socialism for the corporate welfare bums and debt for the slaves, which doesn't work either. Large businesses own the state. They use it to crush the competition. This means that the banks and government will be the major owners of real estate in this Country. The end result is the fed (a private bank) buys the property for pennies on the dollar. Why is it landlords and lenders who get jacked? Most landlords are just regular businessmen too. And, keep in mind, the Land Lords will still have to pay the property tax to the Grube, which is the lion's share of every payment anyway. Landlords will default. How can they pay taxes under such extremities? The government wants to own everything. This is communist! The only one's buying will be banks. In the end, banks will own everything, and everyone else will be a serf, and they will be your lords. The banks get your property, that was the plan, part of the pandemic. The Banks bleed you first, then take the property. 30% or more of mortgages could easily be in a state of default by the time this is said and done. Try kicking 1/3 of the country out of their homes. You'll have a population that is no longer fat, happy, and comfortable. That's when you have to worry about the boogaloo. Whatever they do, they will NEVER let the markets clear on their own. Never let anyone go broke again, least of all the banks. Never let the debt Ponzi end. Never let anyone who has been fiscally responsible with their life or business have a shot at succeeding when others less responsible fail. Never let anyone get ahead in society by their own effort and intelligence. Never let consumers decide what they want to buy with their own money, nor producers provide it for them of their own free will. Never let anyone who defers immediate consumption in favor of profligate spending be allowed to gain by their behavior. The sad part is that bankers would rather evict you and have the property vacant and rot than negotiate a much lower rent and forbearance. We did bailouts in 2008 and crossed that moral hazard again when the government and fed literally handed out 6 trillion and counting this time around. I think only 500 billion went to the plebs. Time for a Debt Jubilee! Wall Street essentially gets at least once a decade. Now it's the tax slaves turn. I am, like you fiscally conservative and have virtually no debt, but my sense of fair play says it's time. Time for a debt jubilee and a return to honest money.Although I am sure that the debt shackles ain't coming off serfs without a BIG fight. We live in a system with $10.000 GPD per every human on the planet, $40.000 debt per every human, and $200.000 derivative per every human. It is unsustainable, and now with Wuhan's plague irreversible that we are at the endgame. It may take a decade, but endgame it is. And fine by me, debt should be something you are scared off. At the end of the day, it's mathematics. Usury is exponential, and our world is finite. Why not look at modern-day Russia instead, who is doing quite well after defaulting on its debt. We have an option, either cancel the debt or become debt slaves. The world owes hundreds of trillions of dollars. To who????? The system is rigged. Time to change the rules. This Coronavirus is the excuse to transition us into a global, communist, totalitarian, satanic, one-world government. The quarantine was the most diabolical event ever perpetrated. Millions of people instantly all out of work for two months because of unreliable models, Mainstream media, and cabal propaganda. Tragic, so many fell for it. And with so many, it will be nearly impossible to break the spell. This was The Atlantis Report. Please Like. Share. Subscribe. And please take some time to subscribe to my back up channels, I do upload videos there too. You'll find the links in the description box. You will also find a PayPal link if you want to make a donation. Thank you wholeheartedly to all those of you who have already donated. Stay safe and healthy friends!

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.

👉National Debt Can Never Be Paid -- Global Monetary Reset to Digital Weimar Currency Coming !!

👉National Debt Can Never Be Paid -- Global Monetary Reset to Digital Weimar Currency Coming !!



The national debt is already at an absurdly incomprehensible number like $23 trillion, and increasing by the minute. We're already in a mathematical fantasy land beyond the limits of human understanding. A stack of trillion-dollar bills would be 67,866 miles high, or more than one fourth the distance from the earth to the moon. This means the deficit before the pandemic would've been a stack of dollar bills more than five times as high as the distance to the moon. The national debt is never going to be paid. It will ALWAYS go up. The Fed WILL monetize the debt at negative interest rates. The treasury debt the Fed will hold will have an average negative yield. They will pay the treasury interest, but in reality, that will just require a wind-down of reinvestment, so it actually isn't anything real. These are all ledgers with lots of zeroes. At some point, the Fed will have to buy ALL of China's holdings as they liquidate, and then ALL the social security surplus holdings. And they will pay well to keep rates very, very low. With negative interest rates--people will pull their savings from banks and buy gold (if they have brains). Banks will not lend to get less back. Scared people will stop buying and start hoarding cash. The economy grinds to a halt. This is the GREAT IMPLOSION, coming soon to an economy near you. The Fed is creating a bubble economy. Once people understand it is all about the Fed, maybe things will change;But not until then. They are using fear and misinformation to herd the sheep where they want them to go seems to be what’s going on today. Even Powell, Yellen and Bernanke are telling the congress not to worry about the deficit. Just keep spending. What he doesn't tell this naive Congress, and the president is that getting the government to spend even more reduces the government's power, and increases the federal reserves power over America. They want the Congress to keep spending in order to make our government as bankrupt as possible. The more deficit spending on our governments part, the better for them. This is what the purpose of this coronavirus agenda is. Bankruptcy for all, and the transfer of all financial control into their hands. They want to remove all financial power from world governments and place all financial power in the hands of this secret fraternity at the very top, who are in control of this international banking system. Their target is the removal of the US dollar and replacing it with their long-desired,one world currency, owned and controlled by this secret fraternity at the very top. Yes, the domination of this world by way of the monetary system. It isn't apparent yet, but it will be, when they put the icing on this coronavirus cake by pulling the plug on the world markets and creating the biggest market collapse in history. Why? They are currently bankrupting our governments. Now they want to place us in a complete state of hopelessness by bankrupting all of us individuals also. So, in the end, the people who created this evil will present themselves as our saviors by making us an offer we will have no choice but to accept. Accept our one-world currency in place of all other currencies, including the US dollar, and we'll bail you out. As I said, they will leave us with no other choice but to accept. And due to their power of absolute secrecy, all we have the power to do is watch the show. Federal Reserve Chair Jerome Powell warned that the nation's unemployment rate could soar to 25 percent. Powell says a full economic recovery may not happen without a vaccine."Full Recovery Could Take Until End Of 2021. Will Require A Coronavirus Vaccine," Powell said in an interview with CBS’s “60 Minutes”.Why would a cartel banker/beancounter have a say as to whether a vaccine is needed or not? "Just following orders" will not be a defense, Powell. So, Fauci, the MD, became an economist, and Jerry Powell, the economist, is now a doctor. Do we live in a bizarro world ,or what! Those who wish to inoculate themselves against this flu should do so. If it works as advertised, they have their immunity. Those that do not wish to take the vaccine pose no threat to them. Compelling the rest of us to be vaccinated is going to be an interesting operation. A vaccine or market manipulation either will do it. The Fed has launched a series of efforts to keep markets functioning properly and has teamed with the Treasury Department on a variety of lending programs aimed at businesses and individuals. In addition, the Fed is buying corporate and municipal bonds. That’s come amid burgeoning unemployment crisis that has seen 36.5 million Americans file unemployment claims and the unemployment rate rise to 14.7%. Wall Street is just like Washington DC. It runs on loopholes. All you have to do is learn your way back and forth through the Maze of stupidity. The same people who sell the panic, sell the vaccine. Before COVID, there were 162 Million active workers. Current reports indicate there are 36 Million unemployed: so its at least 22%. However, this does not include part-time workers that were laid off and unable to file for unemployment benefits. It also does not include workers that have their hours cut. This party is just getting started . By this summer, the unemployment rate could top 40%, as the momentum builds. Those 36 Million workers aren't spending as they did. Probably more than 100 Million workers have dramatically cut spending. This is going to drive unemployment up much higher. Even if all states open up tomorrow, it is not going to be a return of business as usual. People are going to be reluctant to spend money, travel, eat out, etc., until they feel confident that the virus is gone and that the economy has stabilized. It is going to take many years. It took the US about ten years to fully recover from the 2008 crisis, and this one is much worse. People on the minimum wage have to spend 100% of their wages to survive. Billionaires spend 1%, with 99% disposable. They live, as opposed to surviving, on this. National Suicide, Expected to soar . The shooting starts shortly after the USD FRN reaches its intrinsic value as electrical bits and poorly absorbent toilet paper. Losing may be winning if the stupid masks, closures, distancing, handouts, bailouts, negative interest rates, alleged forced vaccination plans, etc. Turn fattened human flocks of idiot sheep into lean, hungry packs of intelligent wolves. Exciting times. That's what happens when counterfeiting enables deficit spending. Eventually, the world will realize the dollar is worthless with all this printing. Then this debt will be an issue and only an internal issue for us the Peasants. "It's the money, stupid." Founding Father axiom. It all depends on whether the US loses reserve currency status over a long period or a short period. The national debt is ballooning, and one day we would default on it. Math can only be stretched so long until an unstoppable force meets an immovable object. During 2008 bailouts, experts were saying, now is not the time to worry about the debt, we can address it once were past the crisis . The debt was never addressed, other than the Bowles/Simpson plan...which failed. I'm hearing the same thing now about this crisis and the staggering debt being piled on. Another frightening number on that debt clock is that of the total value of global derivatives. Judging by the fast-rolling number counter, it appears it's increasing by over$ 2.0m a second! Mind-blowing numbers, all just waiting to collapse when the defaults begin. Ever heard of 'marginal change' ?. The effect of one more unit on the whole. A sinking boat and that one pint of extra water that sends it to the bottom. A sinking economy with a Fed deficit. The effect of one more dollar of debt. The closer you get to the breakpoint, the more important the marginal change. Are we there yet? If not $25 trillion, then 25.1 trillion, 30 trillion, 400 trillion. Has it already happened? Is the economy finished, and we just don't know it? Already the word is out there is a massive problem. Interest rates are being forced lower because the country cannot afford to pay interest on the current debt. With low-interest rates, no one with a brain wants to lend the US money. The Fed has to step in. Now, the debt is faux debt (just zeros on the Fed balance sheet)-- and ready to implode. If this is not warning enough, what is? When I activated the US Debt Clock Time Machine for the year 2024 -- just four years from now -- it showed that at the current growth rate, we would see a national debt of $43.6 trillion! In four years! That is unsustainable! Something must be done right away to bring it down, or a disaster will occur within the next few years. America must pull its head out soon, or a calamity will soon occur! This is digital Weimar Currency. They won't even have the problem of printing on one side of a bill . That's why we are going to experience a monetary reset. This apparently happens to every monetary system not tethered to something that can't be printed out of thin air. That being said, The deficit can reach 50 Trillion or 100 Trillion! The small business issue came from the shutdown and excessive regulations for the most part. It will eventually become a problem, and the system will collapse. This shitshow will only get worse until the final collapse. So expect the unimaginable all the time going forward over the cliff. COVID was a convenient excuse the crash land this debt loaded, massively leveraged economy. The string-pullers opted for flight 1549 in the Hudson River rather than the Hindenburg zeppelin exploding and going down in flames. Strange how the Pandemic is so well coordinated and the New World Order "elites" are ALL singing the praises of an as-yet non-existent vaccine, which clearly is going to be compulsory with the implied threat of military force. The death rate in the non-high-risk groups, even using the inflated mortality numbers, is around 0.1%, so what is the scientific basis for a compulsory vaccination for all without any understanding of the risk/benefit equation for low-risk cohorts (most of the population)! Other than the social control . There remains the medical ethical principle of "Informed consent." Well, I am informed, and I don't consent. What then? Why are we still pretending that Covid-19 is a particularly deadly virus and that we must destroy ourselves out of fear of it? All those who want to be locked up forever should just go ahead and lock themselves up forever and leave us the hell alone. Why do people with horrific plans always insist that we have to join their suicide pact for our own good? The Hong Kong Flu of 1969 was way worse than this WuTangFlu, and they did not shut down the economy. This is an intentional sabotage of the world economy. The aims are many - to impose a worldwide plutocracy served by tech stooges and psycho scums, to impoverish people to the level they won't ever protest politically, to overthrow the role of people in politics that is on the rise ever since 1789. Call it whatever you want, but this is no pandemic. Get ready for millions of bankruptcies, loan defaults, and bank failures. Millions of retirees will lose almost all of what was promised as big pension funds fail. Powell admits it will get very ugly, and no one knows how or when this ends. If reopening brings on wave #2 and they have to close it all up again, kiss any recovery hopes goodbye. Welcome back to The Atlantis Report. You are here for your daily dose of the truth, the whole truth, and nothing but the truth. Three TRILLION $ more debt planned and Powell says now is not the time to worry about it, only when the economy has recovered. What The hell ! We haven't worried about it for the last two decades since Cheney said "deficits don't matter." Our great economy has never been anything more than a bubble pumped up by endless debt thanks to the Fed Bank. The wealthy are doing great , and the bottom 50% are unemployed, maybe forever. The banksters are loving it and want to keep us shut down to do the most damage. We are in real trouble. Pray for a miracle. Bailouts, more printing, baby print, print. Insanity continues. With negative rates looming and is coming, FED can’t raise any rates higher, is too late for that, so their only option is going reverse, you are going to see some funny thing happening. The economy has been sparling for a long time, and not only in the U.S. Unprecedented access to cheap cash, lack of any fiscal responsibilities, plus mounted with other policies and reality has also produced a fallout. Now Banks is put a tight lid on “Line of credit access,” which basically is putting small businesses folks in the cold and not to mention others who have to meet certain obligation is putting them in a state of what is a sense. Lady in Casino dancing for the bosses is starting to sweat. She realizes she is expandable and no longer can entice them. MMT/QE’s etc. And top with it, they will squeeze the last amount of breath from anyone. ECB/Fed/BOJ and other Central Banks around the world, and don’t think China is excluded, fiat is fiat they flow same way just the value is different, are on a collision course of facing final act. Total Bankruptcy and insolvent of nations due to internal debt which is way beyond understanding and external debt of the rations to GDP debt, which is already putting heavy iron plates on their shoulders. They will default, and not only the U.S but all of them will not meet their obligation. So next scheme is Digital, but the game is the same; bosses are well aware of their needs. They all soft defaulted in 2008 when all of the major Central banks started QE, and never really stopped. The issue is now that with the shutdown of essential production, it is going to lead to shortages, leading to price controls\rationing and inflation. The entire industrialized world is switching over to third world status. I very much doubt digital will work. It just makes it much easier to create inflation, and it is 100% dependent on reliable data & power to function. The Government digital currencies will likely be too easy to print when they need it and will quickly collapse in value. The Achilles heel of the industrialized world economies is tax revenue need to balance government spending with production. Tax revenue as all but collapsed, while essential government spending has gone to the moon. The U.S. is a dollar exporter, and both parties' donors won't allow anything else. If we ran a trade surplus, Wall Street's casino would close. The American people don't understand how corrupt this country is. The aim is to fleece the people quickly into debt slavery, where the shirt on their back is owned by banksters. The powerless people on the bottom of the food chain get hurt the most, but the fat cats with political influence are able to get the big bailouts. Basically, the Fed has de facto created Royalty in the world. They are the elites, rich, bankers, and the well connected. They know that no matter what.The Fed will save them. The working man has no chance. The head of the country's financial system, Jay Powell, is saying the answer to the country's woes is social distancing and forced injections by the military. America is already finished as a country. The dollar will lose its status as the world's reserve currency. It won't be long, and we won't be able to trade our pretty pieces of paper in exchange for real goods and services. The federal government will have to spend at least a trillion less than it does now. We won't be able to get away with our trillion-dollar trade deficit much longer either. We've been getting a lot of Chinese products at artificially low prices for a long time. An iPhone would probably cost $5000 if it was made in America. Expect the 2020s to be a lot like the 1930s. This was The Atlantis Report. Please Like. Share. Subscribe. And please take some time to subscribe to my back up channels, I do upload videos there too. You'll find the links in the description box. You will also find a PayPal link if you want to make a donation. Thank you wholeheartedly to all those of you who have already donated. Stay safe and healthy friends!




















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.

Peter Schiff: Printing Money Is Not the Cure for Cononavirus

Peter Schiff: Printing Money Is Not the Cure for Cononavirus



In his most recent podcast, Peter Schiff talked about coronavirus and the impact that it is having on the markets. Earlier this month, Peter said he thought the virus was just an excuse for stock market woes. At the time he believed the market was poised to fall anyway. But as it turns out, coronavirus has actually helped the US stock market because it has led central banks to pump even more liquidity into the world financial system. All this means more liquidity — central banks easing. In fact, that is exactly what has already happened, except the new easing is taking place, for now, outside the United States, particularly in China.” Although the new money is primarily being created in China, it is flowing into dollars — the dollar index is up — and into US stocks. Last week, US stock markets once again made all-time record highs. In fact, I think but for the coronavirus, the US stock market would still be selling off. But because of the central bank stimulus that has been the result of fears over the coronavirus, that actually benefitted not only the US dollar, but the US stock market.” In the midst of all this, Peter raises a really good question. The primary economic concern is that coronavirus will slow down output and ultimately stunt economic growth. Practically speaking, the world would produce less stuff. If the virus continues to spread, there would be fewer goods and services produced in a market that is hunkered down. Why would the Federal Reserve respond, or why would any central bank respond to that by printing money? How does printing more money solve that problem? It doesn’t. In fact, it actually exacerbates it. But you know, everybody looks at central bankers as if they’ve got the solution to every problem. They don’t. They don’t have the magic wand. They just have a printing press. And all that creates is inflation.” Sometimes the illusion inflation creates can look like a magic wand. Printing money can paper over problems. But none of this is going to fundamentally fix the economy. In fact, if central bankers were really going to do the right thing, the appropriate response would be to drain liquidity from the markets, not supply even more.” Peter explained how the Fed was originally intended to create an “elastic” money supply that would expand or contract along with economic output. Today, the money supply only goes in one direction — that’s up. The economy is strong, print money. The economy is weak, print even more money.” Of course, the asset that’s doing the best right now is gold. The yellow metal pushed above $1,600 yesterday. Gold is up 5.5% on the year in dollar terms and has set record highs in other currencies. Because gold is rising even in an environment where the dollar is strengthening against other fiat currencies, that shows you that there is an underlying weakness in the dollar that is right now not being reflected in the Forex markets, but is being reflected in the gold markets. Because after all, why are people buying gold more aggressively than they’re buying dollars or more aggressively than they’re buying US Treasuries? Because they know that things are not as good for the dollar or the US economy as everybody likes to believe. So, more people are seeking out refuge in a better safe-haven and that is gold.” Peter also talked about the debate between Trump and Obama over who gets credit for the booming economy – which of course, is not booming.















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.

Peter Schiff On The Alex Jones Show - Friday (8-28-15)

 On the Friday, August 28 edition of the Alex Jones Show, we analyze the waves of illegal immigrants flooding Europe, as the continent struggles to take on thousands fleeing their own countries. We also look at the Financial Times' anonymous call to abolish cash, and the global move to usher in a cashless society. On today's show, we also look at new undercover films exposing McDonald's and Tyson Food's factory animal cruelty. Financial analyst Peter Schiff joins today's show to discuss the European migrant crisis, China's roller coaster stock market rebound, and other financial news. We'll also take your calls on today's show.




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.

Peter Schiff : China is not The Problem , US Problems are ‘homegrown’

 In the first half of this year, global trade contracted at a rate not seen since the financial crisis according to new data out of the Netherlands Bureau for Economic Policy Analysis, which oversees the World Trade Monitor. Economists at the Bureau says world trade fell 0.5% in Q2 compared to the first quarter. They also revised down their estimates of global trade in Q1, leaving that quarter with a 1.5% contraction. Ameera David weighs in.

Then, Edward Harrison sits down with Peter Schiff, CEO of Euro Pacific Capital, to discuss the volatility in Chinese and US markets. Peter sees the US problem as both worse and homegrown. He expects the Fed to eventually respond with yet more quantitative easing.

After the break, Boom Bust’s Bianca Facchinei reports on the criticism by Joseph Cannataci, the very first privacy chief of the United Nations, of UK government surveillance. Then Boom Bust’s Erin Ade tells us how Apple CEO Tim Cook emailed CNBC host Jim Cramer information related to Apple’s financial performance in China that some say could violate the fair disclosure rules of the US Securities and Exchange Commission.. And in The Big Deal, Ameera and Edward talk about the upcoming Fed pow-wow in Jackson Hole Wyoming and Fed policy given recent events in the markets and the overall state of the US Economy.





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.