Alien Invasion More Likely Than July Rate Hike – Ep.174

Alien Invasion More Likely Than July Rate Hike – Ep.174


* Gold closed the week at the highest weekly close since January of 2015
* Not quite above the $1300 benchmark - I think we closed about $1298 - up about $20 on the day
* Intra-day yesterday, gold was well above $1300
* Until there was news that a British Member of Parliament was shot and that somehow revised hope for the "stay" vote in the Brexit referendum
* As if the price of gold is going up based on the outcome of that vote
* As far as I'm concerned next week's vote is a non-event for the gold market
* The conventional wisdom seems to believe that if Britain leaves, all hell is going to break loose in Europe
* I guess all this chaos is supposed to be bullish for gold
* If Britain votes to stay, the euro will go up and that might be bullish for gold, because a weak dollar is generally bullish for gold
* I think gold will go up regardless of the British vote
* The price of gold is not going up because of what's happening in Europe
* It's going up because of what's happening in the United States
* More specifically at the Federal Reserve
* The Federal Reserve concluded its June meeting on Wednesday and Janet Yellen - surprise! did not raise interest rates
* If you remember, a few months ago, some minutes leaked to the public caused the public to think the Fed would raise rates in June for sure - maybe July, but probably June
* And gold tanked and the dollar rallied and I said, "I don't think so."
* There's nothing in these minutes that say the Fed is going to do anything
* It's the same old Open Mouth Operation
* If you read between the lines, they didn't commit to anything
* But she cried wolf and everybody came running, and
* Not only did the Fed not raise in June but they backtracked on their intentions to raise rates in the future
* They toned down their so-called dot plots for this year and next year
* Now, instead of announcing the first rate hike of the year, they actually pushed back expectations
* There were a lot of articles about the Fed losing credibility, the Fed surrendering
* This is what I have been forecasting
* None of this is a surprise to faithful listeners to this podcast
* Those who have been listening to the talking heads on the major media outlets expect the Fed to raise rates because they actually believe that the Fed's policies have worked and that we have a recovery
* They have not figured out that this is a bubble
* They never figure it out until after the bubble has burst
* If you go back and read the transcript of Janet Yellen's press conference, she's still talking about a July rate hike
* If she had been honest, she would have said,"Why would we raise rates in July? We didn't raise them in June, what is going to change in a month?
* But she is still on script: she said, "I guess it's not impossible that we could raise rates in July"
* So that's what it's come to:
* It's come to, "We're probably going to raise rates in June or July" and now we're at, "I guess it's not impossible"
* There a lot of things that are not impossible. It's not impossible that aliens are going to invade the Earth in July
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Media Spins Horrible Holiday Sales as Reflecting Economic Strength: Ep. 28

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Media Spins Horrible Holiday Sales as Reflecting Economic Strength: Ep. 28 * This holiday shoppers had more shopping hours * 5% less traffic than last year * 11% less money spent than last year * The economy can't support robust holiday sales * Despite big drop in gas prices * Our Sponsors: * Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com * 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

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Black and Blue Friday for Oil Producers and Gold Miners: Episode 27

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Despite Higher GDP, U.S. Economic Data Continues to Disappoint: Episode 26

Despite Higher GDP, U.S. Economic Data Continues to Disappoint: Episode 26

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26 Nov 201428min

The Real Outrage in Ferguson is the Reaction Not the Verdict

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25 Nov 201417min

Paul Krugman Runs Premature Victory Lap: Episode 24A

Paul Krugman Runs Premature Victory Lap: Episode 24A

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25 Nov 201417min

SchiffRadio Podcast Episode 24

SchiffRadio Podcast Episode 24

Big News out of the Central Banks * U.S. FOMC * Primary concern - inflation is too low * no policy to "correct" the problem * Preparing markets for additional stimulus * Japanese Central Bank Doublespeak * Japanese sales tax hike postponed * Continued calls for more inflation * Why is sales tax is different than inflation? * Euro Decline * Mandating "stability" by increasing inflation? * Chinese Central Bank * Cut interest rate to 5.6% * Money flows to the dollar as a hedge because the market believes the Fed * Gold has not dropped much against the dollar and has risen against other currencies Our Sponsors: * Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com * 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

22 Nov 201431min

SchiffRadio Podcast Episode 23

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Episode 23: Going to Extreme to Prove a Point: Two articles about Peter Schiff: * MarketWatch - writer refused to address corrections before going to print except for my official title - The point of my forecasts is to help people avoid problems ahead of time - I did not call for a stock market crash; I predicted QE4 - The Fed can prevent a Dollar Crisis - I said hyperinflation is unlikely, but a possibility * New Republic - Writer quotes selectively from a Reason article to prove his own spin - Points to the CPI to refute real inflation - The price of a Big Mac mirrored the CPI until 2002 - Now price of Big Mac rises 2x as fast as CPI - This illustrates how the government measures inflation Our Sponsors: * Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com * 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

21 Nov 201427min

SchiffRadio Podcast Episode 22

SchiffRadio Podcast Episode 22

Episode 22: Lessons from the Michael Brown Case: * Don't rob a convenience store. * Don't rob a convenience store while high. * Don't be conspicuous after robbing a convenience store while high. * If a policeman then stops you, obey the policeman. * Do not try to take the policeman's gun away from him. * But if you get shot in the hand going for the gun and run away, do not charge the policeman when he says, "freeze!" * The political narrative hides the real problem: unhealthy family life. Our Sponsors: * Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com * 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

20 Nov 201421min

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