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Peter Schiff: QE Addiction is Fueling the Fire that Sends Gold Higher

from Palisade Radio:

There are several reasons the world economy is unsustainable within the current systems. Peter Schiff believes the biggest factor is countries like the US which have huge deficits. They have low production rates requiring mass imports of goods in exchange for pieces of paper that are losing their value. This forms imbalances which destabilize the global economy. There are also enormous amounts of bonds and unfunded liabilities which creates vulnerability to a backup in interest rates. If rates go up, they can’t afford to pay.

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1 comment to Peter Schiff: QE Addiction is Fueling the Fire that Sends Gold Higher

  • Craig Escaped Detroit

    It’s amazing how many countries are doing ‘hidden QE’ along with the “out in the open QE”.

    And since ALL the banks & markets have interconnected debts, investments, cross-swaps, etc. they’re all going down together, and that’s why SO many places are doing the QE dance.

    Japanese government buying up their stock & bond markets to prop things up as well as printing more than a Trillion Yen.

    Chinese government printing up RMB and buying “equities” etc.

    USA PPT buying up Treasuries, stocks, etc.

    I wonder what the combined total of ALL “QE’s” and stock & bond market “pumping purchases” really adds up to (as well as HIDDEN PAYOUTS directly to companies who are in trouble, such as oil, gas, etc?)

    I’m kinda surprised that the USSA, Europe, Japan has NOT already turned into Venezuela & Zimbabwe. But I know it won’t be too far into the future before so many “paper promises” goes up in smoke.

    I’m glad that gold and silver are not combustible, they don’t dissolve in water, and when the power grid goes down, gold and silver won’t disappear like digital bits in the networks.

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