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 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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Bitcoin Is Nothing Like Gold – Ep 694

Bitcoin Is Nothing Like Gold – Ep 694

* Rotation continues from momentum to value as Bitcoin investors turn to gold. * China is the excuse, not the reason for the Bitcoin bubble bursting. * This Crypto Winter may be the longest and most brutal of all. * Dave Portnoy shills Safemoon gimmick. * Coinbase may be the biggest failure vs. expectations of any IPO in history. * Crypto crash ushers in bear market for Tesla, Square, Microstrategy, Riot Blockchain, Galaxy Digital. * Gold is in a solid bull market making new highs. * Paul Krugman is right on Bitcoin and wrong on gold. * The US is now officially a Banana Republic without the bananas. Check out Ladder today to see if you’re instantly approved, go to https://ladderlife.com/GOLD RATE AND REVIEW the Peter Schiff Show Podcast on Facebook. https://www.facebook.com/PeterSchiff/reviews/ SIGN UP FOR MY FREE NEWSLETTER: https://www.europac.com/ Schiff Gold News: http://www.SchiffGold.com/news Buy my newest book at http://www.tinyurl.com/RealCrash Follow me on Facebook: http://www.Facebook.com/PeterSchiff Follow me on Twitter: http://www.Twitter.com/PeterSchiff Follow me on Instagram: https://instagram.com/PeterSchiff 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 Maj 202156min

Crypto Crash. Buy the Dip or Sell the Rip? – Ep 693

Crypto Crash. Buy the Dip or Sell the Rip? – Ep 693

* Bitcoin proves it is not a safe haven asset. * Investors begin rotation from Bitcoin to gold. * Bitcoin is the white whale and Michael Saylor is Captain Ahab. * Anthony Pompliano wants your cash, not your Bitcoin. * Gold investors spooked by suggestion of a possible discussion to potentially think about talking about tapering. * US Dollar crash may look similar to today’s Bitcoin crash. Free $75 sponsored job credit at https://Indeed.com/peter. Terms and conditions apply. Offer valid through June 30, 2021. RATE AND REVIEW the Peter Schiff Show Podcast on Facebook. https://www.facebook.com/PeterSchiff/reviews/ SIGN UP FOR MY FREE NEWSLETTER: https://www.europac.com/ Schiff Gold News: http://www.SchiffGold.com/news Buy my newest book at http://www.tinyurl.com/RealCrash Follow me on Facebook: http://www.Facebook.com/PeterSchiff Follow me on Twitter: http://www.Twitter.com/PeterSchiff Follow me on Instagram: https://instagram.com/PeterSchiff 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 Maj 202145min

Investors Begin to Worry the Fed Won’t Fight Inflation – Ep 692

Investors Begin to Worry the Fed Won’t Fight Inflation – Ep 692

* Dollar falls towards new lows. * Inflation fears become more widespread. * Wall Street beginning to realize there’s no political solution to inflation.
Bitcoin following risk stocks lower, as inflation hedges like gold and silver rise. * Fearing 2% inflation, Bitcoin investors lose 34% on their hedge. * Bitcoin staring at enormous head and shoulders top. * Microstrategy stock down 63% from its high. * Michael Saylor lies and hides. Go to https://Bambee.com/gold to schedule your FREE HR audit. RATE AND REVIEW the Peter Schiff Show Podcast on Facebook. https://www.facebook.com/PeterSchiff/reviews/ SIGN UP FOR MY FREE NEWSLETTER: https://www.europac.com/ Schiff Gold News: http://www.SchiffGold.com/news Buy my newest book at http://www.tinyurl.com/RealCrash Follow me on Facebook: http://www.Facebook.com/PeterSchiff Follow me on Twitter: http://www.Twitter.com/PeterSchiff Follow me on Instagram: https://Instagram.com/PeterSchiff 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

19 Maj 20211h 2min

All Signs Point to Stagflation – Ep 691

All Signs Point to Stagflation – Ep 691

* Oil prices pump. * Bitcoin prices dump. * Gold prices shine. * US leads world in over-valued momentum stocks. * Tucker Carlson talks inflation. * Windows look like nails to the Fed’s hammer. * Soaring inflation outweighs record lows mortgage rates. * Manufacturing decreases in April. * Economic statistics point to stagflation. Thanks to Amazon Pharmacy. Amazon Prime Members can save on prescription medication when not using insurance and get FREE 2-Day delivery! Learn more at https://amazon.com/GOLD RATE AND REVIEW the Peter Schiff Show Podcast on Facebook. https://www.facebook.com/PeterSchiff/reviews/ SIGN UP FOR MY FREE NEWSLETTER: https://www.europac.com/ Schiff Gold News: http://www.SchiffGold.com/news Buy my newest book at http://www.tinyurl.com/RealCrash Follow me on Facebook: http://www.Facebook.com/PeterSchiff Follow me on Twitter: http://www.Twitter.com/PeterSchiff Follow me on Instagram: https://Instagram.com/PeterSchiff 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

15 Maj 20211h 5min

Soaring CPI Shocks Clueless Investors and Economists – Ep 690

Soaring CPI Shocks Clueless Investors and Economists – Ep 690

* CPI numbers shock expectations. * Biggest monthly gain in CPI since 1981. * Gasoline supply chain disrupted by ransomware hack. * Price gouging alleviates shortages. * Unemployed workers shouldn’t be picky. * Disincentivizing people from jobs is not good for the economy. * Dogecoiners buy the rumor and sell the fact on Elon Musk SNL appearance. * Accolades have gone to Cathie Woods’ head. * ARKK will likely make a new 52 week low this year. * CNBC continues to ignore emerging markets, value stocks, and gold. * ]The people saying sub-prime was contained in 2008 are the same people saying inflation is transitory now. Thanks Raycon!. Go To https://buyraycon.com/gold for 15% off your entire Raycon order. RATE AND REVIEW the Peter Schiff Show Podcast on Facebook. https://www.facebook.com/PeterSchiff/reviews/ SIGN UP FOR MY FREE NEWSLETTER: https://www.europac.com/ Schiff Gold News: http://www.SchiffGold.com/news Buy my newest book at http://www.tinyurl.com/RealCrash Follow me on Facebook: http://www.Facebook.com/PeterSchiff Follow me on Twitter: http://www.Twitter.com/PeterSchiff Follow me on Instagram: https://Instagram.com/PeterSchiff 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

12 Maj 202154min

Jobs Not Required to Spend Printed Money – Ep 689

Jobs Not Required to Spend Printed Money – Ep 689

* Huge misses in jobs numbers. * Biden’s Blue-Collar Blueprint to build back better will be another big bureaucratic blunder. * Jobs report is more evidence the Fed’s policies aren’t working. * Weaker labor market means stronger inflation. * Dollar decline will accelerate. * Strong week for gold and silver with more strength ahead. * Investors continue their move from growth to value stocks. * Bitcoin maximalists in glass houses throwing stones at Dogecoin. * Elon Musk may create a market top in Dogecoin after his SNL appearance. * Jeff Gundlach is a fan of The Peter Schiff Show. Listen to the latest season of Business Wars (Vaccine Wars) on Apple Podcasts, Amazon Music, or listen early and ad-free by joining Wondery Plus in the Wondery app. RATE AND REVIEW the Peter Schiff Show Podcast on Facebook. https://www.facebook.com/PeterSchiff/reviews/ SIGN UP FOR MY FREE NEWSLETTER: https://www.europac.com/ Schiff Gold News: http://www.SchiffGold.com/news Buy my newest book at http://www.tinyurl.com/RealCrash Follow me on Facebook: http://www.Facebook.com/PeterSchiff Follow me on Twitter: http://www.Twitter.com/PeterSchiff Follow me on Instagram: https://Instagram.com/PeterSchiff 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

8 Maj 20211h 1min

The Fed Can’t Be Honest About Inflation – Ep 688

The Fed Can’t Be Honest About Inflation – Ep 688

* Inflation concerns increase along with commodity prices. * Trade deficit will fuel inflationary spiral. * Government reclassifying our rights as privileges so they can take them away. * Supreme Court sets precedent for the federal government to start seizing property. * Americans need property rights, not property privileges. Get an extra 3 months Free on a one year package. https://Expressvpn.com/gold RATE AND REVIEW the Peter Schiff Show Podcast on Facebook. https://www.facebook.com/PeterSchiff/reviews/ SIGN UP FOR MY FREE NEWSLETTER: https://www.europac.com/ Schiff Gold News: http://www.SchiffGold.com/news Buy my newest book at http://www.tinyurl.com/RealCrash Follow me on Facebook: http://www.Facebook.com/PeterSchiff Follow me on Twitter: http://www.Twitter.com/PeterSchiff Follow me on Instagram: https://Instagram.com/PeterSchiff 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

5 Maj 202150min

Fed Helps Biden Cheat to Avoid Economic “F” – Ep 687

Fed Helps Biden Cheat to Avoid Economic “F” – Ep 687

* Markets, gold, bonds, oil end April up; US dollar down. * Investors may “sell in May and going away.” * More than one third of US household income is now coming from the government. Thanks Clear. For a limited time, get your first two months of Clear for free by going to https://Clearme.com/GOLD2 and use the promo code GOLD2 RATE AND REVIEW the Peter Schiff Show Podcast on Facebook. https://www.facebook.com/PeterSchiff/reviews/ SIGN UP FOR MY FREE NEWSLETTER: https://www.europac.com/ Schiff Gold News: http://www.SchiffGold.com/news Buy my newest book at http://www.tinyurl.com/RealCrash Follow me on Facebook: http://www.Facebook.com/PeterSchiff Follow me on Twitter: http://www.Twitter.com/PeterSchiff Follow me on Instagram: https://Instagram.com/PeterSchiff 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

1 Maj 202136min

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