Peter Schiff Was Right - 'Taper' Edition
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- Опубліковано 7 вер 2024
- When Ben Bernanke announced that the Federal Reserve's Open Market Committee was going to continue its monetary expansion program it calls Quantitative Easing, almost everyone in the financial media was taken by complete surprise. According to the mainstream media, the non-taper "surprised almost everyone out there." Well it did not surprise me, nor anyone who had been paying attention to what I had been saying. As I said repeatedly over the past several months, the Fed knows that the appearance of economic health would evaporate if its stimulus were withdrawn, or even diminished. The Fed understands, as the market seems not to, that the current "recovery" could not survive without the continuation of massive monetary stimulus. In fact, the Fed's next big move will likely be to increase, rather than taper, its monthly QE dosage! One reporter on this video said that its time for the Fed to take the training wheels off the economy. As I have been saying for years, QE is not the training wheels, its the only wheels the economy has. Take it away and the economy stalls. However, as the economy is now headed toward a cliff, taking the wheels off is much better than leaving them on and going over that cliff.
For more on how I knew the Fed wouldn't taper, here's an oped I released after the decision was announced www.europac.net...
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waiting on “Peter Schiff Was Right - 2020 edition”
You mean 2021 and beyond
@@mrunstoppable6711 Even in 2008, the reasoning for the crash, for the most part, was not because of the reasons he stated. Now I understand why he's been reading the same pages out of his book from 2012 year after year.
@@jordondarke1884really, educate us all on why it happened 😂
Peter is my only financial adviser!
+nunya bizzniss Except ... He was wrong. The Fed DID Taper ... and NOW ... 30 day FFF and FFF has already shot up to 25 BPS ... so again, the interest rate IS already rising
+AileronTrading and what happened after they rose interest rate a mere 25 basis points? The worst start to a year in the history of the stock market! If the economy was so good, why can't they raise rates again? Because we're sitting on a house of cards, that's why
You people are seriously like Jim Jones cult worshipers. I'm a professional portfolio manager. It's what I do. It was a freaking 25 BPS on the FFR, front of the curve, and the rest of the bond market moves by 300 BPS, and you people don't blink an eye. 25 BPS on the FFR, that the curve already adjusted for, and you apply all sorts of H-Naught correlations to it ...
and now lol im sure you think it’s the virus lol you’re the cult worshiper. the economy isn’t even an economy anymore.
Dan O'Seaghdha Yep and immediately lowered when economy took a downturn as a result. Then started bailing out repo market before the virus.
The whole thing is unraveling.
Actually we likely both got the idea for the concept at about the same time, its just that you beat us to the punch! However, I do appreciate your work, which is why I added your video to my favorites.
"I mean there was *nobody* that had Zero..."
Lol They completely ignore Schiff and any other economist out there talking some sense. The same way they kept saying that NO ONE COULD HAVE SEEN THE CRASH COMING IN '08. Yet Ron Paul, Marc Faber, Schiff, Gerald Celente, Jim Rogers, and other Austrian School Economists were warning about it YEARS IN ADVANCE.
I recorded that video in case I was wrong, and the Fed tapered. However I wanted to get out in front of such a surprise announcement and explain why the Fed might yield to market expectations and taper, even though I still believed that it would not do so. Plus I wanted to get on the record of predicting how the Fed might try to dampen expectations for future tapers or rate hikes to minimize the damage from having been forced into a taper they never intended to do.
Peter Schiff Was Right - '2015' Edition
Mel S It's coming, within the next ten years at most.
@@milz7129 Good call :(
Peter Schiff, you are truly the king when it comes to common sense and having the courage to speak the truth!
Peter, you are an HONEST man of conviction. The Pravda Business Media will NEVER give you your much deserved credit for so many correct calls. Keep up the good work, your listeners say Bravo!
I love those moments of rejection and isolation when you know youll have the last laugh
I love how Peter sets these talking heads straight. Go Peter, Go! Awesome!
Peter I am your favorite fan ! You are a mans man you say like it is and smile doing it in the face of the whole worlds (corporations) governments.
Outstanding. Please, keep saving these clips and playing them back.... it's my favorite part of the day.
Peter, you are the man! Thank you for your clarity and insights. Some of us out here are listening.
Slam Dunk! Way to go Peter! This is why I listen to you, I only wish I had listened to you pre 2009 but better late than never.
This needs to go viral and especially for anyone who still believes the corporate media financial channels...wake up people!
I am not predicting Dow 2,000. In fact I have been bullish for years. However the rest of your comments do reflect my current view, though actual hyperinflation remains a worst case scenario. Those videos will also be made as those forecast are validated -- just be a bid more patient!
The really sad thing is all Peter had to do was listen to Bernanke...he never said the Fed would taper, he said it would depend on the data. Peter's greatest skill is his ability to think for himself and avoid running with the herd. It's scary how the industry made up this story about the Fed tapering in September; it was based on consensus, not what Bernanke said. Another great call by Peter Schiff, the guy simply understands economics.
I NEVER turned Away from YOU Peter and MAN am I GLAD I Listened!!!! d};-))
that's the funniest thing i've seen all day
@ Tikanman
Schiff was referring to the FOMC held last September where EVERYONE was expecting your friend Bernanke to taper. So no, he was not wrong when this video was put out.
Congrats Peter... that's why I'm keen on austrian economics... THAT'S NOT ABOUT JUST ECONOMY... THAT'S ABOUT THE TRUTH!
I've been following your lead Peter and telling everyone I know that the Fed wouldn't taper. They all thing I'm the BOSS, but I'm just following your common sense. Please continue to keep us informed with your impeccable logic. Thank you.
Hey Peter, it's time to produce a Peter Schiff was Wrong video...Gold and Silver down 40% in the past 2 years, Oil below $100, the Fed started tapering yesterday...
january 1st is when they taper, they said they will
That's funny! That egg was just laid yet you've already called it a chicken and got it in the frying pan. LMK how that chicken turns out!
Taper is actually a worm. When you're sitting on your couch, watching American Idol, thinking about whether to vote for the Democrat or Republican, and eating fast food, you get that upset stomach? That's the taperworm.
To be fair... fast food is pretty good.
It's 2023, QE 5 has started, along with the 2023 banking crisis. Peter Schiff was right again.
I'm preparing for the next 5 to 10 years because of what Peter has said in his books and on TV. He is right on gold. I don't care about the small things. Peter is right when it comes to the important stuff.
How the hell can the US economy inflate away 13 trillion , all you have to do is look at the growth required by US to inflate away debt, good luck with that, the US economy would have to grow about 1000 x's it size now, this is not going to happen what will happen is a default at some point.
Yeah it’s out of control and we are going down like the Titanic sooner or later.
Well I wonder, did Peter get calls from all of those, hell any of those, who openly ridiculed and mocked him, acknowledging that it was they who were wrong?
Haven't looked at a Gold, Silver, or Dollar chart lately have you? Oh, and by the way ... Taper is about complete.
Exactly the opposite of what Peter said.
AileronTrading
Actually I have. Just bought a bunch of physical last week.
AileronTrading
Here is some info for your consideration, comments and criticism.
Several weeks ago the Federal Reserve made it mandatory for banks for buy and hold "liquid" assets in the event that another financial crisis hits. Well now the secret is out.
With the Federal Reserve geared up to end it's quantitative easing program today, now it's the banks turn to take up the slack.
The Fed. Has exploded it's balance sheet in excess of four trillion dollars status post the 2008 crash. Now the Fed., By requiring banks to hold assets is simply continuing its QE program through other means.
This supposed QE "taper" never happened.
Now that the Federal Reserve is forcing the banks to now take over the job of buying debt, we will simply witness the continuation of their QE program into infinity. Further, this supposed "taper" has been one of the biggest financial farces ever to be played on the financial markets and the peoples of the world, and it is going to get worse.
All this debt which can never be paid back, it now being shifted onto the backs of the banks. The debt is already in an horrific bubble which will burst. When this bubble bursts all these "liquid" assets will become illiquid, worthless, and the ramifications of this is going to shake the core of the Earth
seekingalpha.com/instablog/29482055-gregory-mannarino/3201455-global-debt-and-the-human-bubble
usawatchdog.com/fed-laundering-treasury-purchases-in-belgium-to-disguise-whats-happening-paul-craig-roberts/
Thanks
Well, it's Gregory Mannarino ... so ...
For those of us a little less savvy, so what? Also there was a link to Paul Craig Roberts, I realize you owe me nothing, not even your opinion but I always like to listen to people who are going against the flow have to say. Thanks again.
The problem with that is that we have $20 trillion in State/Federal debt, $17 trillion in household debt (Cars, homes, credit cards, student loans, etc...) $60 trillion in corporate debt and $680 trillion in derivatives and only $9 trillion in circulation. In other words, the amount of currency that exists is overwhelmed by debt to a ratio of about 80:1. Calling in all of the Federal Reserve Notes won't even scratch the surface. We need a universal default on all debts denominated in dollars.
I may have discovered Peter Schiff from the Ron Paul campaign, but he's the most consistent financial analyst out there no matter your politics.
Mr. Schiff - The only guy with an umbrella in this $hit storm. Thanks for your honesty and clarity.
Peter made the CALL....I loved the way the journalist laughs and here he was on the money with his prediction.
Yellen said what today? SSDD. Keep speaking the truth Mr. Schiff.
" the federal reserve is a private corporation that is above the law & accountable to no one "- Sir Alan Greenspan
Yes, Amy. Correct ! please protect your family's hard earned wealth.
Well said.
People constantly complain about gold as a short term investement.
But it is not.
If you're looking at easy gains look elsewhere, it's that simple.
Taper'd twice and almost at new highs.
Isn't it finally time to listen to Peter Shiff!!!!!! Stop dreaming people, as long as this govt is in office, no taper!,
This means it will be the same thing again. No tapering.
That's why i watch your show man!!!
You know whats up!!
and you are not afraid to speak your mind!!
Peter is awesome. Down to earth, not a jerk , funny, and brilliant.
This NEEDS TO GO VIRAL!
Love peter. Such a character and probably one of very few sensible people left in the sates
So this must have been the last straw and Peter was then banned from CNBC 😂
I believe Peter and have been handsomely rewarded for it. Continue stacking gold/silver/gold miners.
It's a triple-whammy, too. By offering credit, more consumers arrive to buy at the same time than normal, so demand rises versus supply and prices increase. Then the credit itself is monetary expansion, which creates more inflation that raises the baseline price of goods. Then we have to pay compound interest on top of the price of the product, reducing future financial resources for the term of the loan. Bernanke and Krugman call this activity "stimulus."
"Leveraged debt, borrowing to the hilts, it's a bankrupt business model. It's systemic, malignant and it's global. Like cancer." Money Never Sleeps
Bernanke and the Inkjets on the 2013 QE to Infinity Tour. Better have your Gold and Silver tickets ready for the Big Event coming to you soon, man you gotta love it!
Schiff 4 President!!
I think Schiff has been extraordinarily polite. He could call you news readers what you really are.
I love this lol. Peter was ridiculed so hard, just to turn out to be correct on his assumptions. I always love a good told you so!
No we End The Fed and elect this man as a Congressman and give him the purse
Schiff was wrong - they in fact did taper. I think it was twice (can't remember, it was a while back)
Thanks Dru. I cut my teeth on Griffins work. I just wanted to see if Peter and G. Edward were in sync on this.
He began telling people to buy gold at $300 an ounce. So if you bought then, you would have been up 533% when gold was $1900 an ounce. Since the Fed has manipulated the precious metals market by making multiple huge sell orders for gold, you are still up 333%.
Peter you rock !
That panel and host should be reassembled and have to watch a replay of their discussion.
The number of people who have outright laughed at Peter Schiff, but been been dead wrong in the end, is really stacking up...
Would love to have Schiff in Congress with Rand and Cruz.
The toughest part for the economists its the when but hes definatelly right on the why
Your going to be able to keep making these videos as LAMEstream media will JUST NOT GET IT!!! Peter is the man!
how did i get the stock market wrong for the last 4 and a half years? I have been bullish on stocks the entire time.
Keep doing what you are doing Peter eventually people will wake up
Lol i would love to see a show with Mr. Schiff, Nostradamus and Jesajah. Its name should be "seeing the future". He just KNEW all of it.
Economics isn't just for the ivy league intellectuals who think they know everything. I've read Peters books, and a lot of the time he stresses economics is simply just common sense. That's the problem with this country, we have too many ivy league know it alls but not enough common sense.
Agreed. I've just found a book of his which should be used in every high school.
_How An Economy Grows And Why It Crashes_
Its written about a simple small island economy, which starts with people catching just enough fish to eat. They develop into an economy with "fish" as currency, and grow enough to have inflation and housing bubble. It shows how things happen in the real world with unintended consequences, as well as having some hilarious puns (there is a Fish Reserve Bank run by Ben Barnacle)
Right on the money Peter Schiff!!!
ABSOLUTELY BRILLIANT!!!!!
Peter Schiff is very smart, but he is not the only one out there saying what he is saying. He represents a certain viewpoint... a viewpoint that is overlooked because it undermines the status quo. You'll notice that Schiff is highly articulate, incredibly knowledgeable, confident and very passionate... he obviously believes what he says. And his central message has never changed over the years - he is nothing if not consistent. We ignore Schiff at our peril.
Also, since the speculators went bust & the gold/silver bubbles burst, metals have been bullish, picking up 4% in one day of trade. The only question now is whether on not its another speculative bubble on Au/Ag.
Way to nail it, Mr. Shiff.
I'd settle for them grovelling at his feet and screaming with their keynesian-infested lungs: "We´re not worthy!".
Once again, you the man!
oh wow!! the Fed just announced they will start tapering in january in 2014!!! anyone have any thoughts on that announcement?!
It's a new degree in politico economics at the Fed University of deception - the subject is Yellen Bullshit 101 ! just throw away your ability to reason. rewrite history and get on the course to nowhere !!
The problem is that, in general, we Americans want something for nothing. Whether it is trying to win the lottery, becoming famous through reality TV, or, in this case, free stuff from the government. Austrian economics beats all other schools because it teaches that it is your labor that gives you purchasing power, not a printing press. We need to declare bankruptcy. While restructuring our debt, we need to repeal destructive things like minimum wage laws and income tax laws.
I love Peter Schiff's economic analysis.
Watch the ticker go from red to green as they announce no tapper at 3:20 and on.
I'd love to have a "Peter Schiff Was Right" T-shirt WITH A EURO PAC PRECIOUS METALS LOGO ON IT TOO!
Amen Peter tell it like it is!!!!
and nobody saw it coming, thats unpossible
Love it. Schiff is dead on again. Please do more of these so I can repost. Thanks
They were all laughing and now who is right. Peter was right.
"Tight money caused more harm."
The problem is that is that any central planning agencies has the arrogance to know what the supply of currency should be.
Moreover, tight currency has not been the problem since 1971. Volcker turned off the printing presses and let the FFR rise to 21%. That resulted in an end to the inflation and encouraged savings.
Fiat paper currency always destroys the wealth of all but a few. It destroys savings and capital investments falls. It's destructive.
You're right he's only a multi-millionaire, that's not obsessed with leverage, and spends most of his time running a brokerage firm (that hedged against the housing bubble) -- I can see how him not being a billionaire could really work against him. Perhaps he should find a way to cut his 50% tax rate down, much like every other billionaire; would that make him more credible to you?
Gold (today) is a hedge on uncertainty; demand falls as confidence increases. In 2001 it was less than $280/oz.
I couldn't agree more with your viewpoints on Bitcoin. Anyone can sit at the comfort of their home and digitalize a billion Bitcoins in a few seconds. Money is supposed to represent labor, value, and effort. You can't just print something like Gold. You have to mine, purify it, and refine it. That takes time, labor, and effort, that's if you find gold depositsl in the first place.
Good call Peter!
Very simple...I live in 1971 and put $35 into 1 oz of gold and $35 under my mattress. Which made out better 42 years later. Can't compare stocks to gold as stocks are investments with inherent risk. You obviously see gold as purely an investment which means you really do not understand gold. It is wealth preservation. You may understand in the coming years with what is going on.
Peter Schiff is right on the money - again.
2:23 Tapering from $85 billion a month was considered 'taking the training wheels off the economy'...now we have $120 billion a month in purchases, with only the faintest glimmer of some sort of taper, with no way in hell of going down to $85 billion.
July 2020 Peter more right now than ever before 😂😂😂😂! Go Peter!!!!!!
@cash stock I My God, you are right. I didn't think about the Mandrake Mechanism. I suppose everyone will have to completely deleverage before calling in the dollars will make a difference.
Love these videos. Keep telling it like it is Mr. Schiff!
Peter was right then his right now
Stay safe Peter, we hear you
Yes it is, I completely agree.
FOR THE LONGEST TIME NOW, I HAVE HAD THE FEELING THAT THE FED IS EASING MORE THAN THE $85 BILLION PER MONTH THEY SAY THEY ARE DOING.
Chris Rhodes nailed it. Good job.
03:22 - In that split second you can tell by Steve Liesman's reaction that he is thinking "awww hell, Peter Schiff made me look foolish AGAIN!"
Who’s here from 2021 where the Fed’s balance sheet is $8.3 trillion
I find it amazing that the main stream media STILL doesn´t give him more credit, and even laughs at him. Even if they don´t believe what he says, the should at least have brain enough to realise that he has been wright so many times before, that they just shut their mouths and not dissmiss him by laughing.
If Peter "I told you so" Schiff talks, I listen!
All these stations always try to disprove everything Peter says and he always proves them wrong haha Peter is always right haha