저자: Elena EisseCatherine · 외국인
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dead-on let's just revisit your predictions where we're at currently on your next flotilla of predictions Peter but congratulations on being accurate though it's kind of like congratulations you know you're predicting the Titanic just hit an iceberg we're gonna sink so what do we do well you know I still think it's early even to congratulate me and I'm not going to you know take credit prematurely but it sure does seem like things are proceeding according to the playbook that I laid out you know even though people still believe that the Fed is going to be raising interest rates at some point and that we we have a legitimate recovery the dollar is still falling more importantly gold is rising gold stocks again pretty much all the gold stocks hit new 52-week highs yesterday and here we have today with the dow down about 150 the Nasdaq is down over 70 points gold is up yet again it was up a little higher earlier this morning but the trend is still there and you know you talk about all these people who believe that there's no consequences from the last 8 years or 7 years of 0% interest rates and three rounds of quantitative easing how can anybody believe that there is not a bill that's coming due for all that because if you look at what Alan Greenspan did we had interest rates at 1% for not even two years and then we gradually raised them back up above 5% over a couple years no quantitative easing programs at all so what Alan Greenspan did was very mild compared to what Bernanke and Yellin have done yet the consequence is the payback for that monetary policy was the worst financial crisis since the Great Depression sure he was numbers are saying 1.8 percent economy I mean what's the real economy negative 2 percent who knows how negative it is because the numbers aren't real because the inflation rate is being artificially suppressed but my point is if we had such a bad consequence of the reckless policies under Greenspan just imagine what's in store for us now I mean this is not just gonna be the worst financial crisis since the Great Depression this is gonna be the worst crisis including the Great Depression because what we're about to you're into and I think we've already entered into you know the beginning of it but I think it's going to get a lot worse as it progresses but this is going to be greater than the Great Depression meanwhile you've got a President Obama and all sorts of Democratic you know Talking Heads out there great this economy is and Bernie Sanders running around like an idiot oh yeah look you know we we had this awful jobs report last Friday not only was it way below estimates they downgrade they revised down the prior month we had another mass exodus of workers out of the labor force to get the labor force participation rate back down to the lowest it's been since the early 1970s before women entered the workforce so if you look at the labor force participation rate for men it's the lowest it's been in the history of the republic and so this has been a disaster and all of these so-called economists who are Democrats who are trying to say that you know the Republicans are wrong for criticizing the economy if a Republican had been president for the last seven years and everything was exactly the same can you imagine what they'd be saying about the rise in income inequality the rise in poverty the collapse in real wages the collapsed and homeownership the mass exodus out of the labor force I mean this is statistically the worst economy really in our lifetimes yet because there's a Democrat president nobody wants to criticize him from the left well the show isn't about who's right and who's wrong it's about knowing the future and getting prepared obviously we'll talk to him about that but I mean you did say you thought all oil to start going back up oh yeah I mean you did predict that they would you know basically start talking about going back you know to get oqe unlimited you predicted how they would go up when they went up but you've also been predicting that you know gold would go back up now they're trying to artificially suppress it but you know worldwide the demands going back up and they admit in elite publications that indeed the quote elite are hoarding cash gold you name it building armored bunkers at record levels and what are these people done well you know I mean the price of oil has almost doubled from its low I've got back about fact I saw it as high as about 50 160 it since pull back below 50 back in the 49 but the trend now I think is up and it's gonna be even bigger once the dollar really starts to cave in I mean the dollar index still hasn't broken down it's going down but I think again people are still holding out hope better what's the timeframe I know you don't go out on a limb but just you're one of those hacker guys out there what's the timeframe what do you really think we should sit around the coffee table talking to your wife well you know it doesn't matter I think it's happening right now when it's gonna accelerate you know from it from from a march to a stampede I think people have to protect themselves now I mean look at our strategies look at how much gold stocks it off for silver stocks I'm on gold and silver I mean you're talking about stocks a tripled quadrupled so far this year and Wall Street still doesn't own them so this I think is still early in the scheme of things so what your listeners to do if they didn't follow my advice you know there were three months ago and six months ago to get on this train it's you haven't missed it I mean you still got to get on you've got you got to get out of US dollars get out of US stocks you should be talking to my representatives at your pacific capital set up an account take your depreciating dollars before they really collapse and diversify abroad get some money into Switzerland and Singapore and another way Peter Schiff is not a sponsor I ought to call him given to me one of many that guy's a great guy but I do agree people should be diversifying but I mean look let me ask you this question then Peter looking at the timeframe historically here I understand it's already here most the world it's already here in the US at a trot and you're some of the gallop a stampede what's the time frame though I mean I know you don't I mean speculatively yeah I think the election could be a callousness I think one of the reasons that Janet Yellen is reluctant to admit how weak the economy is is because she doesn't want to interrupt the Hillary Clinton narrative I mean this whole idea that Obama saved us everything is great and now we should turn over the reins to Hillary we're a long way until the election inch yeah I mean but thing is things are getting so bad can the Fed hold out and still pretend everything is good until the election but certainly by the time the election is over there's no law there's no reason to put up the pretense so I think by the end of the year the Fed is gonna have to come to the rescue at least the way it what it's things to the rescue they're gonna cut raise they're gonna try to have some kind of QE program but again this is pouring gasoline on a fire none of this is going to help solve our problems this is why we have a problem the Federal Reserve has created this problem and they make it politically solve this question but thought it wants to know I'm worried Trump's gonna get in and then that they're gonna hold the collapse back till then and blame it on him well I don't think they'll be able to blame it on Trump if it happens you know right when he walks into in the end of the office so but I think that crisis is gonna happen regardless of who we elect I do think that Trump has a better chance of doing the right thing than Hillary Hillary has no chance of doing the right thing Trump might see it all depends on you know he does a good job of identifying the problem his solutions are all wrong now maybe he knows they're wrong maybe he's just playing politics sure cuz he if he wants low interest rates he wants low interest ratios he's a builder we'll be right back we've got our gift here Peter chef's joining us here at Pacific Capital calm he's been dead on so far so we're gonna come back and I'm gonna ask him what's front and center on his radar not just my question stay with us here's chef of Euro Pacific Capital instead of me asking the questions here in the five minutes we have left you've got the floor what's front and center for you well Farzad concern is when are people going to wake up you know I was on this cuz I was a CBC a couple days ago and and still they acknowledge that okay things seem to be slowing down they're not as as good as we thought they were but they still don't understand the gravity of this situation they still have no clue how much damage has been done to the US economy these last seven years they still have confidence have faith in the Federal Reserve have faith in the dollar believe everything is gonna be okay and they just think well we're at a little bump in the road they don't realize that we've run out of Road or the road has now come to the end and we're going over a cliff that is action what's going on and to me this is more obvious than the problems that I was a warning about in 2007 that came to a head in 2008 yet all the people who were oblivious back then are equally clueless now and to me this should be been more obvious especially since we just have that example of what happened in 2008 fresh and everybody's mind even though it's still what eight years ago it's all the same people they were here they lived through it it's not like they had to learn about it in a history book this isn't like the Great Depression where it's very easy when a revisionist textbook to you know you learn the wrong thing we experienced this ourselves yet we're still not prepared for what's about to happen which again is gonna be much worse than the Oh a financial crisis and it's gonna be a dollar crisis it's gonna ultimately be a sovereign a debt crisis and it's going to bring this whole bubble economy to its knees and Americans are not gonna be able to get away with this anymore we can't just keep pretending we have a real economy we just can't keep running trade deficits and borrowing money to pay for imported products meanwhile we have a bunch of people who are pretending to work the dough are pretending Peter Schiff okay everything you've said is totally true tipple circles for you've been absolutely right here's the rest of story as Paul Harvey would say they're not gonna follow common sense like you just said and then stop pretending I think they'll get even worse nationalize things start wars I mean historically they'll make the wrong decisions to stay in power so what do you expect them to do I mean look what they did in 2008 make it worse give themselves trillions I expect them to make the wrong decisions until they can't do it anymore I mean eventually the market won't give them any more rope we will have hung ourselves on the rope we already had so at some point we're gonna do the right thing but my portfolio what I'm doing with my clients I'm betting that they keep doing the wrong thing because there's no indication they're gonna do the right thing so what are they gonna do they're just gonna print more money they're gonna take interest rates down these clowns are probably if you're gonna try negative interest rates even though they're not working in Europe and they're not working in Japan they're dumb enough to do it because when it comes to central bankers if one of your friends jumps off a bridge will you jump off the same bridge because everybody is doing it it would be the right thing to do lemmings Wow and and look what you're doing with your bet is risky but it's not I mean it's risky in that short term it looks scary but we know historically there's no way they can extend this forever no matter how much voodoo they've got I don't even think it looks scary in the short run because it's already unfolding yeah right the dollar is already going down bull is already going right the Fed is said they're out of bullets the Fed has admitted it isn't working yeah well I mean but the thing is their bullets never work but they're not out they have a machine gun they can print as much money as they want if they actually think money printing works there's no limit to how much they carry and it's not working how do they have the cake and eat it too you've seen the statements they go no this isn't working we're out of bullets so what does that mean no they've never admitted that they still believe their policies were success that's how clueless they are they still believe that their policy and a few statements with it it's not working I mean I'm gonna see some statements but no me you're right then they kind of like out of one side they go this isn't working but then out of the bullhorn they say it is dead on let's just revisit your predictions where we're at currently and your next flotilla of predictions Peter but congratulations on being accurate though it's kind of like congratulations you know you're predicting the Titanic just hit an iceberg we're gonna sink so what do we do well you know I still think it's early even to congratulate me and I'm not going to you know take credit prematurely but it sure does seem like things are proceeding according to the playbook that I laid out you know even though people still believe that the Fed is gonna consequences from the last eight years or seven years of 0% interest rates and three rounds of quantitative easing how can anybody believe that there is not a bill that's coming due for all that because if you look at what Alan Greenspan did we had interest rates at 1% for not even two years and then we gradually raised them back up above 5% over a couple years no quantitative easing programs at all so what Alan Greenspan did was very mild compared to what Bernanke and Yellin have done yet the consequence is the payback for that monetary policy was the worst financial crisis since the Great Depression sure he was numbers are saying 1.8 percent economy I mean what's the real economy negative 2 percent who knows how negative it is because the numbers aren't real because the inflation rate is being artificially suppressed but my point is if we had such a bad consequence of the reckless policies to greenspan just imagine what's in store for us now i mean raising interest rates at some point and that we we have a legitimate recovery the dollar is still falling more importantly gold is rising gold stocks again pretty much all the gold stocks hit new 52-week highs yesterday and here we have today with the dow down about 150 the Nasdaq is down over 70 points gold is up yet again it was up a little higher earlier this morning but the trend is still there and you know you talk about all these people who believe that there's no coming this is not just gonna be the worst financial crisis since the Great Depression this is gonna be the worst crisis including the Great Depression because what we're about to enter into and I think we've already entered into you know the beginning of it but I think it's going to get a lot worse as it progresses but this is gonna be greater than the Great Depression meanwhile you've got a President Obama and all sorts of Democratic you know Talking Heads out there how great this economy is and Bernie Sanders running around like an idiot
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