Peter Schiff talks to the Health Ranger about rising risks to the U.S. economy, collapsing dollar

Wednesday, April 25, 2018
By Paul Martin

by: JD Heyes
Wednesday, April 25, 2018

In a recent episode of “Counterthink” with Mike Adams, the Health Ranger, financial guru and economic expert Peter Schiff gave an insightful analysis of what’s currently happening in the stock market, where the dollar is headed, and what’s in store for American investors in the months ahead.

Schiff, the founder of, observed that the Wall Street was currently in bear country, a downturn that began without much fanfare in February and which continues to plague markets today.

“I do believe that in February we began a long-overdue bear market,” Schiff said. “Technically, we haven’t gone down 20 percent so Wall Street still calls it a correction.”

In recent days “we’ve had a bit of a rally, which to me looks like the correction in the bear market. The only thing that would stop the bear market from actually…materializing would be a change of policy by the Fed, which I wouldn’t rule out because I do expect the Fed to change policy.”

He said he believes the Federal Reserve will start reversing its rate hikes and eventually take the borrowing rate back to zero, while launching another round of QE — quantitative easing, an expansionary monetary policy in which the central bank purchases predetermined amounts of government bonds or other financial assets in a bid to increase capital liquidity and spur the economy.

Mainstream economists have claimed that the QE policy has led to the historic growth of the U.S. stock market and others around the world, but others say markets have been artificially inflated by the policy.

Schiff said if the Fed returns to QE, “we may never have a bear market,” but he’s not certain when the Federal Reserve chairwoman Jerome Powell, appointed in February by President Donald J. Trump, will reintroduce it.

He also noted that the economy under Trump “is really no better” than it was under President Obama’s eight-year tenure and that while it may seem “suspicious” that rates have begun to climb under Trump, he argues the Fed really had little choice.

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