Quoth the Raven

Quoth the Raven #346 - Peter Schiff: Kamala Harris' Socialist Policies & The Crisis Ahead


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In a recent interview with Fringe Finance, renowned economist Peter Schiff shared his perspective on the state of the global economy, the ongoing gold rally, and the policies of central banks. Schiff, known for his unflinching critiques of government policies and his bullish stance on gold, offered a comprehensive analysis that touched on a range of economic issues, from the performance of gold to the potential for a looming economic crisis.

In our full hour-long discussion, available via audio we talked about:

the significance of gold surpassing $2,500, the building of a higher base, and the expectation that gold's price will accelerate.

  • the observation that Wall Street is not yet paying attention to the gold rally, with more focus on Bitcoin

  • gold mining stocks are hitting new 52-week highs, but they are still far from their 2011 peaks.

  • gold's price trajectory from 2001, starting at $270 and rising to $1,900 in a decade.

  • the dollar's recent weakness, particularly against the Swiss franc, and its implications for gold prices.

  • criticism of the Fed's decision to stop raising interest rates and the potential mistakes associated with future rate cuts.

  • the inefficiency and potential damage of price controls, specifically regarding Kamala Harris's proposed policies.

  • the potential effects of taxing unrealized capital gains, including constitutional concerns and the likelihood of increased capital flight from the U.S.

  • whether government can ever be efficient, with the argument that efficiency is inherently a feature of the private sector, not government.

  • Japan's economic situation and the potential implications for global markets if similar issues arise elsewhere.

  • how markets reacted to the Bank of Japan's statements on interest rates and the anticipation of U.S. rate cuts.

  • concerns about rising inflation, especially in the context of potential rate cuts by the Fed and global economic instability.

  • warnings about the possible economic collapse if central banks continue on their current paths without addressing the underlying issues.

  • how long-term inflation could escalate, especially with the current fiscal and monetary policies.

  • advocacy for investing in gold and gold mining stocks as a hedge against expected economic turmoil and inflation.

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    QTR’s DisclaimerPlease read my full legal disclaimer on my About page hereThis podcast represents my opinions only. In addition, please understand I am an idiot and often get things wrong and lose money. I may own or transact in any names mentioned in this piece at any time without warning. Contributor posts and aggregated posts have been hand selected by me, have not been fact checked and are the opinions of their authors. Guests have not been fact checked. Guest opinions and my opinions are not a recommendation to buy or sell any stocks or securities, just opinions. I often lose money on positions I trade/invest in. I may add any name mentioned in this podcast and sell any name mentioned in this piece at any time, without further warning. None of this is a solicitation to buy or sell securities. I may or may not own names I talk, write or think about and are watching. Sometimes I’m bullish without owning things, sometimes I’m bearish and do own things. Just assume my positions could be exactly the opposite of what you think they are just in case. All positions can change immediately as soon as I publish this, with or without notice and at any point I can be long, short or neutral on any position. You are on your own. Do not make decisions based on my blog. I exist on the fringe. The publisher does not guarantee the accuracy or completeness of the information provided in this page. These are not the opinions of any of my employers, partners, or associates. I did my best to be honest about my disclosures but can’t guarantee I am right; I write these posts after a couple beers sometimes. I edit after my posts are published because I’m impatient and lazy, so if you see a typo, check back in a half hour. Also, I just straight up get shit wrong a lot. I mention it twice because it’s that important.
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