Skip to main content

Inflation and Monetary Policy - Peter Schiff and Tucker Carlson Were Right on Inflation

Peter Schiff and Tucker Carlson Were Right on Inflation

 
In the spring of 2021, as the Fed insisted that inflation was transitory, Peter Schiff was warning that inflation was here to stay and that it would get much worse (FOX NEWS interview).

Going forward to November 2021, Powell admits that the Fed was wrong in thinking inflation was transitory, but claims everyone else made the same mistake.
 
The Fed now claims it can fight inflation without creating a recession. It is overestimating the strength of the economy now just as it underestimated the strength of the inflation then.
 


Channel: Peter Schiff (https://www.youtube.com/c/peterschiff)

Video link: https://www.youtube.com/watch?v=PWoKAfMJhiY

 

ALL CREDIT GIVEN TO THE CREATORS

 

Partial Transcription:

"When the government spends money...what happens is the Federal Reserve prints the money and the government spends it into circulation, but when that happens, the value of all the money that is out there goes down, and the price of everything goes up."

"It feels as it's intentional... Is this the way they are going to pay down the debt, by...devaluing the dollar? "

"Certainly, as you have inflation, you reduce the real value of the debt, but the government has no plan to pay off the debt."
 
"The real problem is the amount of money they are going to have to spend just to finance all their current commitments."
 
"This is a massive amount of money printing. It is unprecedented inflation because it is the money supply that is being inflated, and as a result everything costs more."
 
"We are not producing more, it's the opposite...yet we are creating more money to buy the products and services that fewer people are producing." 

"More money, fewer goods - prices are just going to keep going up and it's not going to stop."

"In 10 seconds, is this as crazy as it looks?..."

"The Fed pretends that it's transitory..."

"...If the Fed actually raises rates to fight inflation, they will create a much bigger financial crisis than in 2008 and the US government will be forced into insolvency..."


Transcribed by JKO Radio News.
See you soon.
Labels:

Comments

Post a Comment

Most Read

Week in Review: 23-27 September 2024

Financial Markets For the week, the main stock market indices were slightly up, with the S&P500 gaining 0.6% and the NASDAQ 100 up by 1.1%. The small cap index (Russel 2000) dropped 0.5%. Only the S&P closed at an all-time-high. Gold closed the week at a new all-time-high of 2657$/oz. Silver is still holding the 31$ level and it can go in either direction in the coming weeks, although we favor the downside from a fundamental perspective (slowing industrial demand). The barrel of WTI fell 3.7% and is again around 68$, which is a short-term technical support level. Bitcoin was up by 3.1% and seems to be in the top end of the 53-66k$ range it has been following for the past couple of months. The relative strength of the US dollar (DXY) fell slightly but is still around the 100-101 support level. The EUR/USD is at 1.12$, while the USD/JPY is slightly down to 142 JPY. US M2 money supply metrics have not been updated since the 26th of August. The national financial condit...
Post a Comment
Read more

Week in Review: 21-25 October 2024

Financial Markets For the week, the main stock market indices were mixed, with the S&P500 losing 1% and the NASDAQ 100 up by 0.1%. The small cap index (Russel 2000) fell 3.1%, giving up the previous week's gains. The precious metals remained strong but are about to stall. Gold gained 0.9% while silver ended the week unchanged. Recently silver broke out of the 32$ level and now needs to defend this level. WTI jumped off the 68$ level, and gained 4.1% this week -it now sits at ~71.6$/bbl. Bitcoin fell 2.7% and is in the upper range of the channel it has been trading in since March 2024. In our opinion, bitcoin it is not looking particularly bearish nor bullish. It can go up to 74k or down to 60k in the near future. The relative strength of the US dollar (DXY) was again up slightly and into the 104 level. The EUR/USD is around 1.08$, while the USD/JPY is at 152 JPY. US M2 money supply at the date of 30th September 2024 was up by 0.38%. The national financial conditions ...
Post a Comment
Read more

Week in Review: 9-13 September 2024 - The FED Put!

Financial Markets For the week, the main stock market indices were up, with the S&P500 recovering 4% and the NASDAQ 100 up 5.9%. Last week's losses were eliminated. The small cap index (Russel 2000) was 4.4% in the green. Gold closed the week at a new all-time-high of 2577$/oz. Silver followed gold and popped 10%! We now need to see if silver holds the current levels or if it fails and returns to the 28-30$ range. The barrel of WTI recovered 1.7% but still looks bearish. Bitcoin followed the stock market direction, but with less enthusiasm, recovering 7.8%. It still seems likely that bitcoin will trade in the range of 53-66k$ in the following weeks. The relative strength of the US dollar (DXY) was nearly unchanged and around 101. The EUR/USD is at 1.109$, while the USD/JPY is down to 140.8 JPY. US M2 money supply has not been updated this week. The national financial conditions index (NFCI) for the week of 2nd September 2024 loosened by 2.9% and doesn't transla...
Post a Comment
Read more