Banks are trading up today because traders believe that higher interest rates are going to be good for the banks. They will not. They will be a disaster for the banks. (Bank of America (BAC), citigroup (C), Wells Fargo (WFC), Goldman Sachs (GS), Select Sector Financial Select Sector SPDR ETF (XLF))
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
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- A Very Suspicious GDP Number
- Why Is Consumer Confidence Dropping
- Even A Tiny Rate Hike Will Damage This Bubble Economy
- Gold, U.S. Dollar & Interest Rates
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- The Economic Data Indicates An Incoming Recession
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- The Only Thing That Is Bad For Gold
- Gold: This Sell-Off Is A Buying Opportunity
- U.S. Election: Trump Won The Debate
- Gold: The False Narrative
- Forex: British Pound Flash Crash, U.S. Dollar Risks
- Markets: Gold, Economic Recovery & Fed Policy
- The Bond Market Is Going To Blow Up
- Federal Reserve: Their Game Plan Is To Lower Rates...
- Higher Rates Will Be A Disaster For The Banks
- Why Gold Went Down 40 Dollars In One Day
- Federal Reserve: Alleged Case For An Interest Rate...
- 2017: Certainly A Recession Year
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