Fed Will Sacrifice Dollar on the Altar of the Stock Market (Video)…”Do you guys remember the financial crisis of 2008? Did you think that was bad? This is going to be worse.”
By: Peter Schiff
GoldSeek.com
Tuesday, 14 June 2016
Peter Schiff appeared on CNBC this week with a dire warning on America’s economic future – “It’s gonna be awful!”
Do you guys remember the financial crisis of 2008? Did you think that was bad? This is going to be worse.”
Peter said this time around, we’re not looking at a financial crisis. We’re staring down the barrel of a currency crisis. Ultimately, the central bankers and government policy makers will sacrifice the dollar on the altar of the stock market. Their main goal is to make sure the stock market doesn’t crash again. Peter said they might succeed, but only at the expense of the dollar.
So we’re going into a currency crisis, and this crisis is going to be much bigger than a financial crisis. The impact it’s going to have on the average American, on his standard of living, on his way of life is going to be much more profound. And sure, people won’t lose as much money in their stock portfolio, but if they try to sell their stocks and spend the money, the purchasing power that they lose is going to be much greater then what was lost in ’08.”
Peter went on to defend his position, arguing that the only reason the dollar is so strong right now is because people actually believed Federal Reserve policy is working. What are people going to do when they finally figure out that it was a failure and we’ve been in a phony recovery?
The Rest…HERE
