I’ve never liked this clown Dennis Kneale from Fox Business, he sounds just like all the deniers back in 2007. GDP at 3% is nothing to brag about Reagan had it 6% after 3 years in office after Carter did his damage to the nation. There is no economic recovery because if we are luckily we’re still in a recession. Those of you who frequent STR know I call our current economic state a stealth depression, Schiff’s testimony only strengthens that belief! Kneale mocks Schiff saying “if, if, if” but lets remember Peter IS the one who called the 07/08 crash after being viciously mocked by uneducated economic journalists.
Gold is down now but is up and been going up for a decade. Any commodity will have its ups and downs, the long-term trend shows gold will go higher. Be warned if gold goes to $5000 it will be the least of our worries so pray Schiff is wrong. The longer the Fed continues to screw around, pumping too much money into the market is only going to make our fall harder. The big fear is we will either get hit with hyper-inflation or hyper-deflation in which either way will tank the markets. The stock market being on a tear is only because of the money that has been pumped into the system. Ask yourself if things are so great why is unemployment so high with 100+ million Americans out of work?! The whole thing is propped up like Peter explains, economic collapse is coming we don’t know when because the Fed keeps injecting the market with shots of adrenaline to keep it going. Sooner or later the adrenaline shots won’t work, you cannot print money and keep interest rates low in a nation that produces nothing!
The Weimar Republic tried this it resulted in economic chaos and eventual World War!