by Tekoa Da Silva, Bull Market Thinking:
I had the opportunity this week to reconnect with Peter Schiff, CEO and Chief Global Strategist of Euro Pacific Capital.
It was a powerful interview, as Peter indicated the Fed is trapped in a long-term position of destroying the dollar, while mainstream voices cheer resultant new highs of the stock market. Such dollar debasement Peter explained, means “the price of gold is going to skyrocket”—once the negative propaganda wears off.
In response to this week’s conflicting policy statements issued by the Fed, Peter said, “They checked into the ‘Roach Motel’ of monetary policies because they can get in—but there’s no way to get out. So what they do is they bluff. They pretend there is an exit strategy knowing that exit is impossible…they just have to maintain the pretense as long as they can, before the market figures out the true predicament they’re in.”
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