{"id":1492540,"date":"2024-09-27T11:20:00","date_gmt":"2024-09-27T15:20:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1492540"},"modified":"2024-09-27T11:20:00","modified_gmt":"2024-09-27T15:20:00","slug":"schiff-qe-is-on-the-way","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/schiff-qe-is-on-the-way\/1492540\/","title":{"rendered":"Schiff: QE Is On The Way"},"content":{"rendered":"

Schiff: QE Is On The Way<\/span><\/p>\n

\n

Via SchiffGold.com,<\/em><\/a><\/p>\n

On Friday night, Peter took again to X Spaces to comment on the Fed\u2019s recent decision, the stakes of the upcoming election, and Bitcoin, among other topics. He spends most of the Space interacting with his followers and responding to their questions.\u00a0Follow Peter on X<\/a>\u00a0to catch the next Space he hosts.<\/p>\n

<\/a><\/p>\n

Peter starts by addressing the big news from last week: the\u00a0Fed announced rate cuts<\/a>\u00a0of 50 basis points, signaling a return to monetary policy from the Great Recession era:<\/p>\n

\u201cThere\u2019s no doubt in my mind that we\u2019re going to have quantitative easing probably at the latest by the first quarter of 2025. The Fed may even start after the election, depending on how bad things are.<\/strong> But the rate cuts were just the beginning. Powell and the guys at the Fed are saying, \u2018Well, the economy is great. Everything is awesome, but we\u2019re cutting rates by 50 basis points anyway\u2013\u2019 something that they rarely do.\u201d<\/em><\/p>\n<\/p>\n

The Fed insists that inflation is under control, but it\u2019s still above the typical 2% target they\u2019re expected to target:<\/p>\n

\u201cThe Fed is cutting rates, claiming a victory over inflation when it should be obvious to anybody who understands inflation that it\u2019s about to go through the roof. <\/strong>We saw a big breakout in inflation up to 9%, we\u2019ve now seen a pullback to around 3%, and we\u2019re now finding support above what used to be the resistance.\u201d<\/em><\/p>\n

Every time the Fed tries to delay a recession, it facilitates an even larger national debt and ensures that the next crash will be bigger and badder:<\/p>\n

\u201cWe\u2019re going to have a real economic crisis in the United States that we should have had 10 years ago\u2013 20 years ago. But we were able to succeed in kicking the can down the road, <\/strong>and that\u2019s going to come back to bite us, because the collapse is going to be much worse because our economy is so much worse. We\u2019re screwed up now. The deficits are much bigger than they were back then, so it was an easier problem to solve 20 years ago.\u201d<\/em><\/p>\n

In response to a listener question about his preferred economic reforms, Peter explains that the size of the government needs to be drastically reduced. Even many Republicans struggle to grasp this:<\/p>\n

\u201cWe have a huge bureaucratic monstrosity that needs to be dismantled.<\/strong> There\u2019s so much that the government does that it shouldn\u2019t even do at all, at least the federal government. These functions would be better performed at the state and local level, and so the federal government should just get out of those things. Even the things that the federal government should do\u2014and there\u2019s not that many things that it should do\u2014it does very inefficiently. \u2026 Trump brags about the fact that he created the Space Force. We didn\u2019t need the Space Force. That\u2019s another agency. It\u2019s the wrong direction. We needed to get rid of some of the agencies we had, not add new ones.\u201d<\/em><\/p>\n

One listener asks Peter about\u00a0Jack Mallers, the CEO of crypto company Strike<\/a>, and the mindset behind investing in Bitcoin. Peter thinks crypto investors like Mallers and Michael Saylor don\u2019t seriously consider the possibility that Bitcoin will crash:<\/p>\n

\u201cI remember the housing bubble in 2002, 2003, 2004, and 2005. I found that people who owned homes\u2014and I was renting at the time\u2014but people who owned homes could not accept the fact that their house was going to go down in value.<\/strong> I think one of the reasons for that is they had such a vested interest in their house going up because it was their biggest asset. \u2026 They didn\u2019t even want to consider the possibility that this gravy train was going to come to an end. I think that happens in Bitcoin to an even bigger degree, especially when you\u2019ve invested so heavily in Bitcoin<\/strong>\u2014not just because you own it, but because you\u2019ve started a business that\u2019s based on it.\u201d<\/em><\/p>\n

Towards the end of the Space, several listeners ask Peter about gold stocks, prompting him to comment on his experience as a stock broker. He argues that there\u2019s ample room for deregulation in the financial sector too:<\/p>\n

\u201cTrump should get rid of the SEC\u2014not just get rid of [SEC Chair] Gary Gensler, get rid of the entire SEC! We don\u2019t need it. We should just abolish it, and we should abolish FINRA. <\/strong>Not only would that save a bunch of money because we could fire all those bureaucrats and let them get real jobs, but it would help the country; it would help the capital markets. Things would be better, right? Investors would be better protected and better served without the government looking over their shoulders.\u201d<\/em><\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nFri, 09\/27\/2024 – 07:20<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/markets\/schiff-qe-way<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Schiff: QE Is On The Way Via SchiffGold.com, On Friday night, Peter took again to X Spaces to comment on the Fed\u2019s recent decision, the…<\/p>\n","protected":false},"author":0,"featured_media":1492541,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1492540","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1492540","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1492540"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1492540\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1492541"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1492540"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1492540"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1492540"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}