Dr. Jim Willie and Peter Schiff: The Morgue Is Next Stop for U.S. Economy

Thursday, July 14, 2016
By Paul Martin

BY VOICE OF REASON
THELASTGREATSTAND.COM
THURSDAY, JULY 14TH, 2016

In the following video, Peter Schiff reviews this past month’s jobs report, what it means for the markets, and more importantly what it means for gold and silver. For anyone who has been paying attention to the job numbers as of late, after the last month’s abysmal job report, the overall consensus was that last month was a fluke, rather than a new trend, and this month was expected to be around 180,000 jobs.

As it turns out, the most recent jobs report shattered expectations. The market was expecting 180,000 jobs, and as Peter reports, over 287,000 jobs were created, which actually turned out to be 30,000 jobs higher than even the most optimistic estimates were forecasting.

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As you might expect, Peter explains that the strong job numbers numbers signaled a market rally, which initially caused both gold and silver to fall off their recent highs. What’s laughable, is when Peter gets into talking about how people were already speculating that the strong job numbers might signal a Fed rate hike, which would signal a sharp drop in the price of gold and silver.

Unlike in the past, nobody is falling for the Fed’s bluff about raising rates, because the 2016 election is right around the corner and the economy is WAY too fragile. Arguably the best indication that traders have no fear of a Fed rate hike, was the fact that after they dipped, both gold and silver rallied to new highs, despite the positive job numbers.

As always, Peter Schiff remains very bullish on gold and silver, and the report below from the one and only Dr. Jim Willie after the video shares Peter’s sentiments.

The Rest…HERE

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