Nasdaq: We Have All These Artificial Props

The Nasdaq would not be here if not for QE, the nasdaq would not be here without zero percent interest rates. It would`t be here without unprecedented stock buybacks fueled by cheap money. We have all these artificial props that have lifted up the market and there is no way to sustain the market without these props. The Federal Reserve is talking about normalizing interest rates, shrinking its balance sheet, it cannot do that without pricking this bubble and collapsing the market. Now, maybe they won`t do that, maybe they will launch QE4. That is what I think they are going to do and maybe the market will not collapse, but when that happens, the dollar will. The dollar is being propped up by the idea that the Federal Reserve is going to hike rates.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.