I think the Federal Reserve is going to do everything it can to keep interest rates artificially low. It has to start by pretending that it can raise interest rates but their game plan is to lower them again.
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
Oct 6, 2016
Oct 5, 2016
Higher Rates Will Be A Disaster For The Banks
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.
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
Why Gold Went Down 40 Dollars In One Day
Apparently people still think the Federal Reserve is serious about raising interest rates because you had Jeffrey Lacker coming out this morning and saying that the Federal Reserve needs to be preemptive when it comes to inflation fighting, not really wanting for it to heat up. This is really absurd because if the Federal Reserve wanted to be preemptive it would have raised years ago and they would now be much higher than they are.
Again, I think this is all talk. But apparently the markets have not figures this out yet and gold went down 40 dollars because it thinks the Federal Reserve is about to raise interest rates. (SPDR Gold Trust ETF (GLD), Market Vectors Gold Miners ETF (GDX), Market Vectors Junior Gold Miners ETF (GDXJ), Newmont Mining (NEM), Goldcorp (GG), Barrick Gold (ABX))
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
Again, I think this is all talk. But apparently the markets have not figures this out yet and gold went down 40 dollars because it thinks the Federal Reserve is about to raise interest rates. (SPDR Gold Trust ETF (GLD), Market Vectors Gold Miners ETF (GDX), Market Vectors Junior Gold Miners ETF (GDXJ), Newmont Mining (NEM), Goldcorp (GG), Barrick Gold (ABX))
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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