Is the Powell Put in Play? Ep. 330
The Peter Schiff Show Podcast15 Feb 2018

Is the Powell Put in Play? Ep. 330

St. Valentine's Day Rout
I wouldn't really call what happened in the bond market and the U.S. dollar market as a St. Valentine's Day massacre, maybe it was a slaughter; even slaughter was too harsh a word. It was a rout. But this is nothing compared to what is going to come. The daughter is going to get slaughtered a lot more and the bond market is going to get slaughtered a lot more in the days ahead. Maybe not exactly tomorrow, but there will be days ahead that will be much worse than today. This is the tip of a huge iceberg.
Doing the Impossible
Before I get into the tail of the tape today, and all the horrific economic numbers that came out today, I want to take a step back and talk about President Trump's budget, which was released on Monday. Basically, the Republicans succeeded in doing something that you would have thought was impossible. They are making the Democrats look like the fiscally responsible party.
A Farce
First of all, there are some cuts in this budget that are never going to happen. There are a lot of assumptions that are saving money, like they assume a total repeal and replace of ObamaCare, which isn't going to happen. In fact, if it didn't happen when Republicans controlled Congress, how is it going to happen when the Democrats control Congress in 2019? So this is all farcical.
Assumptions...
But one of the biggest farces of the entire budget is the underlying economic assumptions. They're assuming that the very low unemployment rate gets even lower. But, the most farcical of all, is that they assume that the economy grows uninterrupted at an average of 3% for the next 10 years! This so-called expansion is already 9 years old. That makes it the second or third longest expansion in history, and if it continues this year, I think it will be the largest expansion in history. If it continued for another 10 years it would be almost twice as long as the next largest economic expansion in history. What are the odds that that is going to happen? But even if that happens, even if we get 10 years of 3% economic growth (we probably won't even get 1) but let's assume we get 10, even with that, the budget does not balance.
Not Even Pretending the Budget will Balance
This is the first time the Republicans are presenting a budget that, even in 10 years, does not balance. Now, think about this: When they were presenting budgets that had a pretense of balancing in 10 years, and they were way off the mark, can you imagine how much further off they will be now when they are not even pretending the budget is going to balance?
Trillion Dollar Deficits and no QE
In the first couple of years they are forecasting trillion dollar deficits. As I said on the podcast before, the last time we had trillion dollar deficits, the Fed was doing a trillion dollars a year in QE. Right now, the Fed is still posturing that it is not going to do any QE. In fact, it is posturing that it is going to do QT - it is going to shrink its balance sheet.
Big Political Problem for the Republicans
But here is going to be the big political problem: Since the Democrats are now the fiscally responsible party, they will be able to hang these deficits around the necks of the Republican candidates like an Albatross. I know a lot of people are thinking, "Wait a minute, Peter! Obama doubled the deficit & the national debt - there are all kinds of deficits under Obama, so how can the Democrats say that the Republicans are the big spenders and they are the fiscal Conservatives?
Inevitable Keynesian Logic
It is very easy. It is basic Keynes. They are going to say is when Obama ran deficits, they were necessary to get us out of the recession that Bush caused by cutting taxes on the rich, and the corporations. So they were a necessary economic stimulus to get out of the ditch that Bush drove us into. After all, Clinton, a Democrat, Our Sponsors: * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy

Episoder(1084)

Fed Caves With Aggressive Rate Cut - Ep 980

Fed Caves With Aggressive Rate Cut - Ep 980

FOMC Rate Cut Analysis: Fed's Decision, Market Reactions, and Economic RealitiesPeter Schiff analyzes the highly anticipated Federal Reserve rate cut following the two-day FOMC meeting, emphasizing its effects on the markets and broader economy. He critiques Jerome Powell's justification for the 50 basis points cut, the Fed's stance on inflation, and the true state of employment in the U.S. Schiff also discusses the contradictions in Trump's and Harris's economic promises, their implications for future fiscal policies, and the potential consequences for the U.S. dollar, interest rates, and the overall economy. He highlights the ongoing issues with the national debt and the risks of price controls. Additionally, Schiff advises on investment strategies, including gold, silver, and international equities, amid the anticipated economic downturn.Download the CFO’s Guide to AI and Machine Learning at https://netsuite.com/gold🟨 Sign up for Peter's most valuable insights at https://schiffsovereign.com🔔 Free Reports & Market Updates: https://www.europac.com🟡 Schiff Gold News: https://www.schiffgold.com/news📘 Book Store: https://schiffradio.com/books👉 Follow Peter Schiff on Twitter: https://twitter.com/peterschiff👉 Follow Peter Schiff on Instagram: https://instagram.com/peterschiff👉 Follow Peter Schiff on TikTok: https://tiktok.com/@peterschiffofficial👉 Follow Peter Schiff on Facebook: https://facebook.com/peterschiff01:39 Market Reactions and Predictions02:36 Inflation and Price Controls Discussion05:11 Trump's Economic Policies and Price Controls08:53 Interest Rates and Economic Indicators16:37 Fed's Rate Cut and Market Impact28:19 Questioning the Strength of the Economy29:01 The Fed's Balance Sheet Dilemma30:01 Historical Perspective on Interest Rates33:33 The Recession and Rising Interest Rates38:27 Trump's Economic Promises and Criticisms47:13 Preparing for the Economic Collapse51:09 Investment Strategies for the Future53:09 Conclusion and Final Thoughts#FOMCMeeting #InterestRates #EconomicOutlookOur Sponsors:* Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD* Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.comPrivacy & Opt-Out: https://redcircle.com/privacy

19 Sep 202453min

Gold Soars as The Fed Readies Rate Cuts - Ep 979

Gold Soars as The Fed Readies Rate Cuts - Ep 979

Market Analysis, Gold Surge, and Personal AnnouncementPeter Schiff discusses the stock markets' performance on Friday the 13th, noting that while major indexes ended on a positive note, the only asset to hit a new all-time high was gold. He interrupts the usual podcast to announce his wife Lauren's new music duo, 'The Laughing Cats,' and their debut album, 'Funny Money,' highlighting the first single 'G.Y.B.' now available on Spotify. Peter then resumes, detailing gold's significant rise to new record highs and contrasting it with the stock market's performance in terms of gold pricing. He also critiques the U.S. budget deficit, discusses potential economic impacts of the Federal Reserve's anticipated rate cut, and assesses the presidential debates, focusing on issues of tariffs and tax cuts. Peter emphasizes the investment potential of gold and gold stocks amidst the current economic landscape.Sign up for a $1/month trial period at https://shopify.com/gold 🎶 New single from Laughing Cats out today: https://open.spotify.com/artist/2f3z6IPGfomCl9FsJeyb8d?si=9morm92NRdikGW3hbt0iPA🟨 Sign up for Peter's most valuable insights at https://schiffsovereign.com🔔 Free Reports & Market Updates: https://www.europac.com🟡 Schiff Gold News: https://www.schiffgold.com/news📘 Book Store: https://schiffradio.com/books👉 Follow Peter Schiff on Twitter: https://twitter.com/peterschiff👉 Follow Peter Schiff on Instagram: https://instagram.com/peterschiff👉 Follow Peter Schiff on TikTok: https://tiktok.com/@peterschiffofficial👉 Follow Peter Schiff on Facebook: https://facebook.com/peterschiff00:25 Stock Market and Gold Performance00:46 Announcement: The Laughing Cats' New Album04:48 Gold's Record Highs and Market Analysis17:25 Bitcoin and Oil Market Insights22:46 Inflation and Federal Reserve Rate Cuts26:22 CPI and PPI Data Analysis32:56 Wall Street's Call for Rate Cuts33:27 Record-Breaking Budget Deficit36:07 Economic Weakness and Job Statistics37:26 Presidential Debate Analysis43:32 Tax Cut Promises and Economic Realities48:23 Tariffs and Their Impact54:43 The Illusion of Tax Cuts01:00:20 Conclusion and Investment Advice#goldprice #investmenttips #stockmarketanalysisOur Sponsors:* Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD* Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.comPrivacy & Opt-Out: https://redcircle.com/privacy

14 Sep 20241h

Financial Markets Back on the Brink of Collapse - Ep 978

Financial Markets Back on the Brink of Collapse - Ep 978

Market Turmoil & Economic Uncertainty: A Deep Dive into Non-Farm Payroll Report and Fed PoliciesIn this episode, we explore today's weaker-than-expected non-farm payroll report and its impact on the markets. Despite a brief improvement in stock indices following rate cut expectations, concerns loom as markets question whether a 25 or 50 basis point rate cut is forthcoming. The podcast dissects the current state of the labor market, the potential Fed actions, and the implications for tech stocks, gold stocks, cryptocurrencies, and overall market dynamics. We also delve into the historical context, drawing parallels to the financial crisis of 2008 and discussing the looming recession and inflation threats.Download the CFO’s Guide to AI and Machine Learning at NetSuite.com/GOLD🟨 Sign up for Peter's most valuable insights at https://schiffsovereign.com🔔 Free Reports & Market Updates: https://www.europac.com🟡 Schiff Gold News: https://www.schiffgold.com/news📘 Book Store: https://schiffradio.com/books👉 Follow Peter Schiff on Twitter: https://twitter.com/peterschiff👉 Follow Peter Schiff on Instagram: https://instagram.com/peterschiff👉 Follow Peter Schiff on TikTok: https://tiktok.com/@peterschiffofficial👉 Follow Peter Schiff on Facebook: https://facebook.com/peterschiff#stockmarket #inflation #cryptocurrencyOur Sponsors:* Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD* Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.comPrivacy & Opt-Out: https://redcircle.com/privacy

7 Sep 20241h 1min

Making Lemonade Out of Economic Lemons - Ep 977

Making Lemonade Out of Economic Lemons - Ep 977

Cut your wireless bill to $15/month at https://mintmobile.com/gold. $45 upfront payment required. For new customers on the first 3 month plan only. 🟨 Sign up for Peter's most valuable insights at https://schiffsovereign.com🔔 Free Reports & Market Updates: https://www.europac.com🟡 Schiff Gold News: https://www.schiffgold.com/news📘 Book Store: https://schiffradio.com/books👉 Follow Peter Schiff on Twitter: https://twitter.com/peterschiff👉 Follow Peter Schiff on Instagram: https://instagram.com/peterschiff👉 Follow Peter Schiff on TikTok: https://tiktok.com/@peterschiffofficial👉 Follow Peter Schiff on Facebook: https://facebook.com/peterschiffOur Sponsors:* Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD* Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.comPrivacy & Opt-Out: https://redcircle.com/privacy

2 Sep 202454min

The Fed Makes Its Biggest Mistake Yet - Ep 976

The Fed Makes Its Biggest Mistake Yet - Ep 976

Market Turmoil, Political Drama, and Economic ForecastsPeter delves into a tumultuous week in the markets and politics. He covers key events including Jerome Powell's Jackson Hole speech and its implications for interest rate cuts, the Democratic National Convention, and Robert Kennedy Jr.'s decision to drop out and endorse Donald Trump. Peter argues that the Federal Reserve is pivoting from fighting inflation to addressing rising unemployment, critiques the state of unemployment statistics and job market data, and discusses the potential for a gold price boom amidst a weakening dollar. Additionally, Peter offers in-depth commentary on the flaws in government spending and social security, the misrepresentations in political narratives, and explores future economic outlooks. He closes with a call to invest in gold and gold stocks.NetSuite is offering a one-of-a-kind flexible financing program. http://netsuite.com/gold🟨 Sign up for Peter's most valuable insights at https://schiffsovereign.com🔔 Free Reports & Market Updates: https://www.europac.com🟡 Schiff Gold News: https://www.schiffgold.com/news📘 Book Store: https://schiffradio.com/books👉 Follow Peter Schiff on Twitter: https://twitter.com/peterschiff👉 Follow Peter Schiff on Instagram: https://instagram.com/peterschiff👉 Follow Peter Schiff on TikTok: https://tiktok.com/@peterschiffofficial👉 Follow Peter Schiff on Facebook: https://facebook.com/peterschiffOur Sponsors:* Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD* Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.comPrivacy & Opt-Out: https://redcircle.com/privacy

24 Aug 202455min

Gold Breaks $2,500. Harris Would Send it to the Moon - Ep 975

Gold Breaks $2,500. Harris Would Send it to the Moon - Ep 975

Unprecedented Gold Highs and Underlying Market DynamicsPeter discusses the historic rise of gold prices, which closed above $2,500 per ounce for the first time. He contrasts the performance of gold with that of Bitcoin, highlighting gold's significant growth since the start of the century. Peter also explores the underwhelming response of gold mining stocks to gold's record highs and predicts a bullish future for gold prices and mining stocks. Additionally, he critiques potential economic policies of Kamala Harris, cautioning that they may lead to increased inflation. Peter urges listeners to invest in gold, silver, and mining stocks, emphasizing the importance of proactive investment to mitigate inflationary risks.🟨 Sign up for Peter's most valuable insights at https://schiffsovereign.com🔔 Free Reports & Market Updates: https://www.europac.com🟡 Schiff Gold News: https://www.schiffgold.com/news📘 Book Store: https://schiffradio.com/books👉 Follow Peter Schiff on Twitter: https://twitter.com/peterschiff👉 Follow Peter Schiff on Instagram: https://instagram.com/peterschiff👉 Follow Peter Schiff on TikTok: https://tiktok.com/@peterschiffofficial👉 Follow Peter Schiff on Facebook: https://facebook.com/peterschiffOur Sponsors:* Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD* Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.comPrivacy & Opt-Out: https://redcircle.com/privacy

17 Aug 202455min

Inflation Data Supports Rate Hikes, Not Rate Cuts - Ep 974

Inflation Data Supports Rate Hikes, Not Rate Cuts - Ep 974

Peter Schiff dissects the latest inflation data, emphasizing the government's manipulation in underreporting true inflation figures. He compares the July CPI and PPI reports, suggesting real inflation rates could be double the official numbers.Schiff highlights the significant federal budget deficit and its implications for future inflation. He argues that the Federal Reserve's potential rate cut is politically driven and could backfire.Schiff also discusses the repercussions of government policies on industries like solar energy, resulting in SunPower's bankruptcy. He critiques government intervention in housing, education, and healthcare, asserting these measures have increased costs and decreased efficiency.Lastly, Schiff commends Elon Musk's take on inflation and calls for substantial reductions in government spending and more market-driven solutions.⭐️ Visit https://indeed.com/peter to start hiring now.🟨 Sign up for Peter's most valuable insights at https://schiffsovereign.com🔔 Free Reports & Market Updates: https://www.europac.com🟡 Schiff Gold News: https://www.schiffgold.com/news📘 Book Store: https://schiffradio.com/books👉 Follow Peter Schiff on Twitter: https://twitter.com/peterschiff👉 Follow Peter Schiff on Instagram: https://instagram.com/peterschiff👉 Follow Peter Schiff on TikTok: https://tiktok.com/@peterschiffofficial👉 Follow Peter Schiff on Facebook: https://facebook.com/peterschiffOur Sponsors:* Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD* Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.comPrivacy & Opt-Out: https://redcircle.com/privacy

15 Aug 202455min

Bank of Japan Rescues the Markets... For Now - Ep 973

Bank of Japan Rescues the Markets... For Now - Ep 973

Peter returns to his Puerto Rico studio after an extended vacation. He discusses recent market volatility, including movements in stocks, Japan’s market crash, and cryptocurrency fluctuations. Peter critiques the Fed's decision not to cut rates, arguing that delaying cuts only worsens economic pain. He predicts future rate cuts and quantitative easing, and shares insights on gold and mining stock investments. Additionally, Peter analyzes the political landscape, focusing on Kamala Harris's VP pick, and criticizes new UK laws limiting free speech. Peter also advocates for tax reforms and spending cuts to address the deficits⭐️ NetSuite is offering a one-of-a-kind flexible financing program. https://netsuite.com/gold🟨 Sign up for Peter's most valuable insights at https://schiffsovereign.com📈 Invest like Peter: https://schiffradio.com/invest🔔 Free Reports & Market Updates: https://www.europac.com🟡 Schiff Gold News: https://www.schiffgold.com/news📘 Book Store: https://schiffradio.com/books👉 Follow Peter Schiff on Twitter: https://twitter.com/peterschiff👉 Follow Peter Schiff on Instagram: https://instagram.com/peterschiff👉 Follow Peter Schiff on TikTok: https://tiktok.com/@peterschiffofficial👉 Follow Peter Schiff on Facebook: https://facebook.com/peterschiffOur Sponsors:* Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD* Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.comPrivacy & Opt-Out: https://redcircle.com/privacy

12 Aug 202457min

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