Interest Rates: We Are Going Negative

The Federal Reserve is only pretending to go the other way. I said this before, if the Federal Reserve actually raised interest rates the next thing they would do was to cut them. Everybody wants to pretend that the Federal Reserve is going to raise interest rates because the U.S. is supposedly the only example that quantitative easing (QE) actually works. But it did not work. It was a complete failure! But everybody wants to pretend that it was a success, they want to pretend that they are going to raise rates. We are going to go back to zero interest rates, in fact we are going to go negative, we are probably going to be lower than Europe or Japan. We are going to back up the truck with QE4, which is going to be bigger than QE3 but none of it works!

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