Peter Schiff: We’re in the Ninth Inning of This Thing (Video)

(SCHIFFGOLD.COM)-

Peter Schiff recently appeared on Info Wars with Alex Jones and offered a dire warning:

The world sits atop a house of cards erected by central banks…unfortunately it’s not going to end well for most people.”

Peter said the aftermath of Brexit shows just how fragile the world financial system is, pointing out that in a healthy economy Brexit wouldn’t really matter. But we don’t have a healthy economy and the post-Brexit turmoil is a sign of things to come:

More and more people, mainstream people…now realize that this is the ninth inning of this thing – this whole experiment with Keynesianism and fiat money. It is very, very late in the game. Time is running out. The clock has been ticking and ticking and it’s going to stop. The day of reckoning is getting closer.”

So, what lies ahead? Peter reiterated a prediction he made on CNBC last month – the Fed will sacrifice the dollar on the altar of the stock market, we are rapidly heading toward a currency crisis, and we can expect more Federal Reserve intervention:

They have nothing left. I think all they’re going to do now is try to change their rhetoric and try to talk about not raising rates, then they’ll talking about cutting rates, then they’ll eventually cut them, and then they’ll take them negative. But I think also somewhere along the way they’re going to restart their QE campaign. I think QE4 is going to be bigger than one, two, and three combined, and it’s going to be even more destructive to the standard of living of average Americans.”

Peter and Alex finished out the interview talking about Hillary Clinton and the erosion of the rule of law in the US.

 

Highlights from the interview:

“The world sits atop a house of cards erected by central banks…unfortunately it’s not going to end well for most people.”

“I think more and more people now realize that it doesn’t matter what the job numbers are. The Fed ain’t hiking rates. In fact, I think the Fed has already started its easing cycle. I think it communicated that to anybody who could read between the lines.”

“They have nothing left. I think all they’re going to do now is try to change their rhetoric and try to talk about not raising rates, then they’ll talking about cutting rates, then they’ll eventually cut them, and then they’ll take them negative. But I think also somewhere along the way they’re going to restart their QE campaign. I think QE4 is going to be bigger than one, two, and three combined, and it’s going to be even more destructive to the standard of living of average Americans.”

“Most people know there’s inflation. They don’t believe the government numbers, or they don’t even know about the government numbers. All they know is the cost of living is going up. Food is more expensive. Their utility bills are higher. Their rent is going up. Health insurance payments are going up. But Alex, we ain’t seen nothing yet. When it comes to inflation, this is just the beginning.”

“Brexit is just a small example of the problem – that the global financial system could be so impacted by this decision. In a healthy economy, with a healthy financial system, it would really be no big deal. Because we don’t have a healthy financial system, because we have this bubble, that’s why this is a problem.”

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“More and more people, mainstream people…now realize that this is the ninth inning of this thing – this whole experiment with Keynesianism and fiat money. It is very, very late in the game. Time is running out. The clock has been ticking and ticking and it’s going to stop. The day of reckoning is getting closer.”

“It’s a monetary collapse. Did you see what happened to the pound sterling as a result of the Brexit vote? It dropped by 10%. The real drop is not just going to be the pound, but all the world’s fiat currencies, in particular the US dollar, which is at the center of this whole Frankenstein’s monster when it comes to a monetary system. And it is going to implode. This dollar crisis is going to make the financial crisis of 2008 look like a Sunday school picnic.”

“The fact is if these European banks are in so much trouble, the American banks can’t be too much further behind. So this crisis is brewing. That’s the reason the Fed can’t raise rates. That’s the reason they’re going to cut rates and do QE, because they know how desperately they need to prop up these banks.”

“We are no longer a nation of laws. We are a nation of men. And if you’re the right man, or in this case a woman, then you’re above the law. The law only applies to little people.”

“These are all warning signs that there is too much debt. That is the commonality. Puerto Rico is broke, but America is broke. Puerto Rico is just a small microcosm of the overall country that is even broker than Puerto Rico, and we’ve reached a tipping point. And you know that when you have interest rates at zero, you have all this quantitative easing. It shows you that we’re at the end of the rope.”

http://schiffgold.com/interviews/peter-schiff-were-in-the-ninth-inning-of-this-thing-video/?utm_medium=social&utm_source=google+&utm_campaign=interview

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