저자: Economic Collapse News · 외국인
다듬은 글
I like some of the other guests we have on i' say they're about 90% accurate uh like Mr Dent but we've been the last year or so saying who would be right about this who would be right and say that oil prices would start going back up who would be right to say gold prices in the aggregate this year would start going back up who you know who would be correct about all that and I would say overall I'm not poo pooing anybody I would say that Peter Schiff has been more more accurate than anybody else we've interviewed and we only have folks on that are about 90% accurate or more so so it's not like it's bad to not be as accurate but it is a big debate though about are we going to have inflation or deflation I'm not a rocket scientist but when they're printing more money and issuing more garbage and more derivatives than anytime in history worse than 2008 tells me down the road paper's going to have a problem but now they talking about holding your money so liquid whatever is what you want in my little you know brain uh but who knows Peter Schiff of Euro Pacific Capital join us billions under management and of course son of the famous Patriot uh fighting the IRS and the corrupt government Irwin Shi who passed recently uh he joined us uh to discuss all this europa.eu of predictions uh 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 going to 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 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- we highs yesterday and here we have today with the dowal down about on 150 the nasdaq's down over 70 points gold is up yet again uh 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 uh consequences from the last uh 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 Allan 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 of years no quantitative easing programs at all so what uh Allan Greenspan did was very mild compared to what uh bernacki and Yellen have done yet the consequences the payback for that monetary policy was the worst financial crisis since the Great Depression sure and even when C numbers are saying 1.8% economy I mean what's the real economy negative -2% who knows how negative it is because the the numbers aren't real because the inflation rate is is being uh artificially suppressed but my point is is if we had such a bad uh consequence of The Reckless policies under Greenspan just imagine what's in store for us now I mean this is not just going to be the worst financial crisis since the Great Depression this is going to be the worst crisis including the Great Depression because what we're about to enter into and I think we've already entered into uh you know the beginning of it but I think it's going to get a lot worse as it progresses uh but this is going to be greater than the Great Depression meanwhile you've got a president Obama and all sorts of democratic uh you know uh talking heads out therey to talk about how 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 downg they 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 itend 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 uh 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 uh the the the collapse in real wages the collapsed in home ownership 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 and we'll talk some about that but I mean you did say you thought oil would start going back up I mean you did predict that they would uh you know basically start talking about going back you know to you Q unlimited uh 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 I know they're trying to artificially suppress it but you know worldwide the demands going back up and and they admit in Elite Publications that uh indeed the quote Elite are hoarding Cash Gold you name it building armored bunkers at record levels I mean what have these people done well you know yeah I mean the price of oil has almost doubled from its low uh it got back above fact I saw it as high as about 5160 it since pulled back below 50 uh back in the 49s but the trend now I think is up and and it's going to 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 sure what's the time frame I know you don't want to go out on a limb but just you're you're one of the most accurate guys out there what's the time frame what do you really think when you 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 going to accelerate you know from a from a 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 and up or silver stocks talk about gold and silver I mean you're talking about stocks that have 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 three months ago and six months ago uh to get on this train it's you haven't missed it I mean you still got to get on you got you got to get out of US Dollars get out of US stocks should be talking to my Representatives at EUR 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 New Zealand and by the way Peter shiff is not a sponsor ought to call him up and get him to be one I me I think the guy's a great guy but I mean I do agree people should be diversifying but uh I mean look let me ask you this question then Peter looking at the time frame historically here I understand it's already here in most of the world it's already here in the US at a at a trot and you're talking about a Gallop a stampede what's the time frame though I mean I know you don't I mean speculatively you know I think the election could be a callous because 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 uh the Hillary Clinton narrative I mean the whole idea that Obama saved us everything is great and now we should turn over the Reigns to Hillary so we're in all land until the election ends yeah I mean but thing is things are getting so bad can the FED hold hold out and still pretend everything is good until the election but certainly by the time the election is over there's no long there's no reason to put up the pretense so I think by the end of the year the fed's going to have to come to the rescue at least the what what it's think is as the rescue they're going to cut rates they're going to 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 worse AG let me ask politically question but the audience wants to know I'm worried Trump's going to get in and then they're going to hold the collapse back till then then blame it on him well look I don't think they'll be able to blame it on Trump if it happens you know right when he walks into into into the office uh so but I think the crisis is going to happen regardless of who we 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 problems his Solutions are all wrong now maybe he knows they're wrong maybe he's just playing politics sure he he wants low interest R real solution he wants low interest rates because he's a builder uh we'll be right back we've got our guest here Peter Schiff joining us europacific capital.com uh 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 Peter Schiff of europacific 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 as far as I'm concerned is when are people going to wake up you know I was on this uh guys I was in 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 going to 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 actually what's going on and to me this is more obvious than the problems that I was warning about in 2007 that that came to aead in 2008 yet all the people who were oblivious back then are equally clueless now and to me this should be even more obvious especially since we just have that example of what happened in 2008 fresh in everybody's mind even though it's still what 8 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 for a revisionist textbook uh to to you know you learn the wrong thing we experience this ourselves yet we're still not prepared for what's about to happen which again is going to be much worse than the 08 financial crisis and it's it's going to be a dollar crisis it's going to ultimately be a sovereign uh debt crisis and it's going to bring this whole bubble economy uh to its knees and Americans are not going to 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 workon people AR even pretending Peter shev okay everything you said is totally true two plus two equals four you've been absolutely right here's the rest of the story as Paul Harvey would say they're not going to follow common sense like you just said and and stop pretending I I think they'll get even worse nationalized things start wars I mean historically they'll make the wrong decisions to stay in power uh 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 going to 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 going to do the right thing so what are they going to do they're just going to print more money they're going to take interest rates down these clowns are probably even going to 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 well you jump off the same Bridge because everybody is doing it so must be the right thing to do Lemmings wow and and 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 matter how much Voodoo they've got I don't even think it looks scary in the short run because it's already unfolding right the dollar is already going down gold is already going you're right the FED has 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 they actually think money printing works there's no limit to how much they they admit it's not working so 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 no they've never admitted that they still believe their policies were a success that's how clueless they are they still believe that their I've seen a few statements where they've admitted it's not working I mean I've seen some statements but no I mean 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 no they they don't accept responsibility for their role in inflating the housing bubble they don't accept their blame for the financial crisis they still believe that all their policies were correct and so the next time the economy turns down they're going to do it all over again see they're still pretending we have a recovery all right Peter you've been dead on thank you so much europa.eu
Comments 0