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Peter thank you for coming on with us thanks Alex where do you want to start I mean it's just so much happening yeah you know all the things that I've been talking about both on your program and you know my own internet program a Peter Schiff show or whatever they will occasionally invite me on you know conventional television you know all this stuff is now starting to to happen it's starting to unfold the mainstream still doesn't understand I think they still think oh maybe the Fed made a mistake maybe they shouldn't have raised raids that wasn't a mistake the mistake was lowering them to 0 in the first place the minute they did that that they sealed our fate it didn't matter when they raised rates the minute they would do it everything was going to fall apart because was a phony recovery it was a bubble and the fact that they waited so long means that the bubble is that much bigger which means it's that much more problematic when it pops I think what we're staring at right now unless the Fed quickly back tracks and cuts rates and does QE for which I think they're gonna do they may even go negative but I think we're gonna have a worst financial crisis than the one we had in 2008 but if the Fed does what I think it's gonna do to try to prevent that crisis then they're actually gonna sure in something much worse in the form of a dollar crisis which is gonna be much worse than just the general financial crisis they could finally kill the dollar because the conventional wisdom is that we're the worst yeah we're the best house in a bad neighborhood but at the same time it's got to give some day and it just can't go on forever and it appears that's beginning to crack with all the big banks and the Royal Bank of Scotland and sorouh saying panic it's over everything's gonna collapse it almost makes me then ask what do they think they're doing well they have no idea but you know the only reason that the dollar has risen these past several years although it's now falling so far in 2016 but the reason it rose is because everybody was convinced that what the Fed did actually work that we had a real recovery and that the Fed was gonna be able to raise race I knew all along that that wasn't true and I actually thought the federal reserve was smart enough not to raise rates but they proved me wrong on that because they were dumb enough to think that they can get away with a quarter point hi I knew that would be the case and now they've Rick their own bubble and the air is coming out of it and you know that's why you talk about gold the only reason gold was falling was because people believed in this myth now that we're you know looking beneath behind the curtain gold is off to its best annual start in the history of gold greg gold is now at about twelve hundred and thirty dollars an ounce a little bit more it was at ten fifty the day after the Fed raised rates and in fact just yesterday one of the biggest gold bears this analyst over at ABN amro she had a price target for gold in 2016 of 900 she just changed it yesterday from 900 to 1300 now that's a pretty big about-face for a major bank and the reason she said that she did this is her case for lower gold prices was based on the Fed raising race she now believes that the feds not gonna raise rates at all in 2016 and so now she thinks called sure turkey what do you say to people like dent who's been you know really accurate on a lot of fronts saying look it's going to end up going down because it's not even really a commodity it's basically worthless I disagree with him on some of those front seam don't know he's really smart because it is a commodity it is industrially used it seemed culturally also as a hedge against inflation or emergency big governments Oh large populations China India Mexico or buying is any anything but worthless but forgetting about its role as a commodity it has a unique role and it's been valued for his properties for thousands of years but think about the environment we're in not only do we have zero percent interest rates but we have negative interest rates and we have governments threatening to outlaw cash they want to do away with a hundred our bill or the 500 is the next place i was going i mean this will this will be all we have as a true barter currency it'll force us back to a real currency that was my next question I've never seen a push by the European Central Bank and by larry summers and by the big five banks to get rid of cash to make us go all-digital what is that really about mr.
chef well it's all about control it's about a law the financial privacy it's about a loss of freedom and it's about being able to debase the money see the problem with negative interest rates right now as well I'll just take my money out of the bank and put it in my mattress and I avoid a negative rate well if they make that impossible if it's hey either you put it in the bank or you don't have it then it stuck there and then you can lose money with negative rates and it's also about them being able to do bail-ins or tax your money or or or or basically nationalize it which they've done in Europe over and over again I mean the big kahuna of tyranny we've always known is getting rid of cash and boy they're so pushing it and what about the underground economy the underground economy is not going to go away if they take away cash they're just gonna have to find an alternative to cash and what's the oldest alternative available gold it's really over I mean what are people gonna use people are going to go back to real money traditional money this experiment and fiat money is blowing up all around us and it's ironic that probably just before the greatest bull market in the history of gold you have so much negativity in fact just about all the hedge funds at the end of last year we're short goal I mean it was the it was the first time in history that hedge funds were next short gold look at what this geniusness did they were all short gold out below 1100 and look where it is now I mean everything they bought how bad does that hurt the one thing they shorted went up well who knows I mean I mean hedge funds are probably gonna blow up look at the banks they own these financials the banks have been cut in half a lot of these favorite high-flying tech stocks have been demolished everything they were buying is plunging and the one thing they were shorting is what's going up gold is the not really I didn't think of that because as you know you talked about this a decade ago Ron Paul's talked about it so many folks have talked about the manipulation of the gold and silver markets it's now come out they've been doing that and so and look look at Goldman Sachs Ole Miss tax is desperately trying to encourage everybody to short bowl they've been coming out several times not only are they telling people this tell gold they're telling them to short it this thing is going to live alone can they suppress it how long can they suppress it well look obviously not long this whole fantasy is is falling apart before their eyes they're desperate to try to do something they want to talk to price down but you know the truth is out they raised interest rates now by a tiny little bit and what do we have the worst start in history the other day so let me just add this I haven't sold one piece of gold or silver that I bought in 25 years and my gut tells me stuff I bought it three hundred i kept it when i went to 2000 it goes down to a thousand i don't care this whole paper fraud is garbage the enemies of freedom lie about it constantly and so I know it's there as an emergency backup and it just comes to my gut tells me I did the right thing but then I talked to like like like dent to be fair he didn't say was worthless he just he just said you know it's over value he's right on so many things I'm just good at though he's drawing on that because he's somehow believes that it's all gonna fall apart the u.s.
is gonna collapse and the dollar is somehow gonna gain value in that environment that makes no sense that's like telling me that a corporation is about to go bankrupt but I should buy shares in the company because the stock price is gonna go up well he says it's it's it's the best house in a bad neighborhood and so far that's not happening it's not the best house it's actually the worst house the only reason that people perceive it to be good is because it's been a self-fulfilling prophecy and people have believed the hawks game but we well you know the guy that brought down Madoff the guy that brought down Madoff says there's three bigger scams right now but he's investigating yeah well you know but we pierced the illusion we pretended that we can raise interest rates I said many times on your show the Fed needed to talk about raising interest rates to pretend that they could do it but not actually do it and prove that they couldn't what we just raised interest rates a quarter point and all hell is breaking loose if you look at the banking sector it hasn't been this stressed since the before that's my next question answer play you're getting into all the technicals you did call it just exactly the whole time with keely and what would happen tell us next and I'm not disagreeing with you but somebody like dense says the u.s.
is great china is bad China's going to hell in a handbasket you a lot of time say China is better than the US China set to ban all foreign media from publishing online that's the independent China obviously has seen a third of its wealth go away what do you see really going where are the best places to be where are the worst places and what's the next shoe to drop look well what is China produced they produce all sorts of products that everybody in the world wants to consume we have a huge trade deficit with China it's not the other way around all we produce this Treasury bonds we go into debt we borrow money to buy the things that the Chinese economy is productive enough to create so we're the country that's it a lot more trouble not China they're the ones that have been loaning us money they're the ones who have been you know allowing us to have all the stuff that they produce so I i think that people who are worried about China are missing a bigger picture China has problems but our problems are much larger he thought China would be the detonator but isn't the argument really the detonator I think he says this to you say this is is the the QE unlimited oh yeah and you know a lot of these hedge funds that were shorting gold or different hedge funds now are shorting the Chinese currency the yuan because they think it's gonna collapse but it's actually the dollar that's gonna collapse not you want good good cuz as it's been the idea that we can raise interest rates that is supported the dollar sure this is the biggest bubble the Federal Reserve has ever inflated the US economy is in worse shape than it's ever been we double the national debt most of the infowars radio listening audience is aware of the high quality affordable firearms available that are made right here in America at HD firearms com one of the most exciting things about HD firearms com is the ability to upgrade your ar-15 platform today they call it their low profile platform PBX muzzle brakes proven to help control muzzle rise 6061 billet material with Type three hard-coding bolt carrier group for 308 and 556 ARS custom kydex holsters ideal for concealed carry with point zero eight zero thick kydex to ensure durability most competitors material is point zero six zero configure yours today at HD firearms com and my favorite single stage trigger a homerun upgrade for your ar-15 an ar-10 platforms more at HD firearms com today or call 7704 8570 15 that's HD firearms com or call 770 for a 570 15
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