저자: PeterSchiff · 외국인
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Powell의 연준 의장 지명은 기존 정책의 연장이며 트럼프 지지층에게 도움이 되지 않는다는 주장. Powell은 Yellen과 같이 정치적으로 행동할 것이며 혜택 대상만 트럼프로 바뀐다고 봄. 시장이 하락하면 금리 인하와 QE4에 빠르게 나설 것이라고 예상. 존 테일러나 존 앨리슨이 지명됐어야 한다고 주장. 앨리슨이 가장 나은 선택이었다는 입장. 이사회 구성은 큰 의미가 없다고 봄. 의장 선임이 방향을 결정하며, 화폐 증발과 저금리 기조가 이어진다고 예상. 디지털 화폐는 정부 감시 강화 수단이 될 수 있다고 우려. 암호화폐는 법정화폐 대안 수요로 보며 버블 가능성도 언급. 최종적으로 금이 진짜 승자라고 주장하며, 비트코인 7000달러 돌파 소식을 언급.
다듬은 글
time to dig into those weeds now Jay Powell's appointment as chair of the Fed I bring you now Peter Schiff CEO of euro pacific capital big news today what can you tell us about powell what might we expect and i want to get your opinion on him well it's just more of the same but you know powell embodies everything that candidate Trump criticized when he ran for office you know he was very critical of Janet Yellen she was acting politically she was keeping interest rates artificially low she was doing political stuff she was trying to prop up the stock market she was trying to make things look better for Barack Obama to make it easier for Hillary Clinton to win and his criticism was right on point I mean he was exactly right about what the Fed was doing but now instead of taking the opportunity to change the Fed he is simply reappointed or nominated somebody who is going to continue the very policies that he criticized when he was running for president and Powell is going to be just as political as Yellen except now the beneficiary is going to be Trump instead of Obama okay well I mean I think a lot of people expect that they're going to be very political it's a political position but this is the first non economist to lead the Fed in a long time is there any value and that you say he's not experienced with the Fed but you can still be plenty experienced with the Fed and not you know be the chair well the economic education that Bernanke and Yellen had didn't do him any good I mean you know so they didn't really learn anything about real economics they learned a bunch of Keynesian nonsense so yeah clearly you don't need a PhD in economics to chair the Fed but the problem is I think that Powell is still going to share the same type of philosophy that his predecessors had which is wrong now he is a Republican so he is more inclined to try to help Donald Trump get reelected and so I think he's going to be there with the monetary spigots I think he's going to cut interest rates if the market starts to go down I think it'll be very quick on the trigger when it comes to QE four and that's exactly what trauma was but that's not what his voters wanted this is not going to help Trump's voters people who voted for him the middle class who thought they were voting for change they're going to get more of the same and the policies that are going to be pursued by a Powell Fed will continue to undermine the living standards of the middle class it will erode away the value of the dollar and will continue to misdirect resources from Main Street to speculation on Wall Street it is going to continue the policies that resulted in Trump's election but it may make sure that he doesn't get reelected okay well let's talk about John Taylor might have been his pick a lot of people were speculating he was favored by conservatives what would your opinion have been on him being a select in his chair well he wasn't as bet I would have taken John Allison of all the people that he interviewed John Allison was the best by far and so if he would have gone in that direction that would have been a change that would have been learning for the mistakes in the past and taking the fed in a new direction Taylor you know would have been better than Powell but you know Taylor was already trying to you know get his mind right I was reading stuff where well you know the Taylor rule isn't really a rule it's kind of a suggestion and so he was kind of backpedaling trying to get the job but at the end of the day Trump didn't want to take a chance on a wild card he wanted to go with a sure thing and I think Powell is that I think he's gonna be exactly what Trump wants a yes-man at the Fed that's going to be part of the Trump administration and kind of do what he's told okay well let's look into the future about the bench at the Board of Governors who do you think might fit on that oh I don't know I mean as far as how they're gonna change those deck chairs around I mean I think it really doesn't matter cuz once you pick the Fed Chairman that's pretty much the direction that we're going in and it's a continuation of more of the same money printing artificially low interest rates bubble blowing you know a belief in Keynesianism and and and monetary stimulus and you know these are not sound money people that believe in hard money you know what Trump was a candidate he was talking about the gold standard I mean these guys want nothing to do with a gold standard Powell says this of crypto currencies I do want to get your opinion on this it maybe it's just a personal interest of mine but he does say I would say I'm very cautious on the idea of a Fed digital currency that's something central banks are generally looking at but I would say my approach that would be very very cautious do you think the Fed is gonna have to take a hard look at how crypto currencies are changing well you know I don't know I mean it depends you know a lot of the US money is already digital I mean most of the money that we deal with we don't actually have paper bills right it's all digital entries you know on a bank account so a lot of the money is already digital if it's not crypto but I do think that governments you know if they if the US government wants to keep better track of American citizens it may decide to try to replace cash physical cash with a crypto version of the dollar I hope we don't go in that direction because that's simply more government control over the population and that takes away our freedoms but I you know I do see people embracing crypto currencies I mean some people are doing it because they want to get rich because the price keeps going up and people are jumping on a bandwagon and if they don't understand the music but there is an underlying a buyer of crypto currencies who is buying because they are looking for an alternative to the failed product being issued by central bank's whether they're dollars euros yen you have people looking for an alternative to fiat currencies now you know unfortunately they're buying fiat digital currencies but you know they're probably better than the ones that the central banks are issued issuing and it just shows you how bad the central bank currencies are but ultimately of course you know we could have a be having a huge bubble here and these crypto currencies I think the real deal is gold I think gold money is going to be ultimately what wins out and maybe it could be in a crypto form in that you can transfer your ownership of gold digitally which could satisfy a lot of the utility that people who are looking for crypto currencies are looking for but with the stability of a real commodity that's that's that you're that you're dealing in and not just something that that exists you know in hyperspace but how snow has no intrinsic value other than the fact that you can give it to somebody else right it's it's a conversation that is ongoing everyone's got their ideas about it especially since the value hit over 7000 today thank you so much for weighing in on this mr. gold Peter should have CEO of euro pacific capital thank you
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