Anyone who’s visited Survival And Prosperity over the last two weeks probably noticed all the housekeeping items and other topics besides finance I’ve been blogging about. Whew! Time to move on. And who better to get back on track with as it concerns economics, finance, and investing than one of the original “crash prophets,” Peter Schiff. In his September 14 entry on the The Schiff Report YouTube video blog, Schiff, who correctly-predicted the bursting of the U.S. housing bubble and 2008 global economic crisis, explained to viewers what QE3 was really about:
This is the plan that Ben Bernanke has. Ben Bernanke’s plan to revive the U.S. economy, and create jobs, is to inflate another housing bubble. That’s it. That’s what the Fed’s got. That’s what it came up with. As if the last housing bubble worked out so well for the economy, that the Fed wants an encore…
How is another housing bubble going to solve anything. Now one thing that Ben Bernanke hasn’t figured out yet- it ain’t gonna work. No matter how much he tries, no matter how much air he blows in to that housing market, he’s not going to reflate that bubble. There are simply too many holes in it, and there is no precedent for relating a busted bubble. More likely, all that cheap money is going to go someplace else…
So where is all this money going to go? Commodities. It’s going to go to gold. It’s going to go to silver. It’s going to go into oil. It’s going to go into agriculture. It is not going to make the economy better. It’s going to make the economy worse. It’s not going to create jobs. But what it is going to create is a higher cost of living for everybody, whether you have a job or whether you’re unemployed. And believe me, if people are spending more money on food, and more money on energy, they’re not going to have any extra money left over for discretionary spending. None of this is going to work.
The President/Chief Global Strategist of Euro Pacific Capital and CEO of Euro Pacific Precious Metals shared the following investment advice:
You’ve got to look through all this smoke. You got to buy gold, buy silver. Get out of dollars. Get out while you can. Get into real things. Own stocks outside the United States, in currencies with dividends and income that are not U.S. dollars.
This is the most important thing that you can probably do. You’ve got to save yourself first if we’re going to save our country… We’re going to go over a real fiscal cliff. We have a real crisis coming because of the Fed, but we’ve got to protect ourselves.
“Operation Screw: The Fed goes all-in on QE”
(Editor’s notes: Info added to “Crash Prophets” page; I am not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented herein)
No comments yet.
Leave a comment
Christopher E. Hill, Editor
87,086 Unique Visitors in 2013
360,266 Unique Visitors from
Please Rate this Blog HERE
- On TV: 10 Ways To End The World
- Peter Schiff Predicts Gold Going Higher Than $5,000 An Ounce
- Illinois Policy Institute: ‘Illinois Is Exporting Its Higher-Income Earners’
- Project Prepper, Part 26: The Everyday Carry (EDC) Bag
- Casting Call For FOX TV Show ‘UTOPIA’
- ‘Doomsday Preppers’ Season 4 In The Works
- Michael Bloomberg And Heavenly Hubris
- Shocking: Illinois ‘Pole Tax’ Fails To Bring In Projected Revenue
- Surviving A Nuclear Attack On Washington, D.C.
- While Ebola Grabs The Headlines, Coronavirus Makes A Comeback In The Middle East
- Cei mai multi dintre noi nu sintem pregatiti pentru situatia economica cataclismica care va veni. Putem face ceva sau vom fi victime sigure? | Lupul Dacic on The Percentage Of Adult Americans That Own Investment Gold Is…
- The nation of America is folding up under divine chastisement | on The Percentage Of Adult Americans That Own Investment Gold Is…
- Editor on Springfield, Illinois, Named America’s 3rd Most Dangerous City
- Erric on Springfield, Illinois, Named America’s 3rd Most Dangerous City
- GLOBAL IMPLOSION AND WHY THE INTERNATIONAL MONETARY FUND JUST LIED TO THE ENTIRE WORLD | sreaves32 on The Percentage Of Adult Americans That Own Investment Gold Is…
- Guest Post: 16 Signs That Most Americans Are Not Prepared For The Coming Economic Collapse on The Percentage Of Adult Americans That Own Investment Gold Is…
- 16 Signs That Most Americans Are NOT PREPARED For The Coming Economic Collapse | 2012: What's the 'real' truth? on The Percentage Of Adult Americans That Own Investment Gold Is…
- A Pocketful of Mumbles | OccurrencesDomesticForeign on The Percentage Of Adult Americans That Own Investment Gold Is…
- Michael Snyder ~ Most Americans Are Not Prepared For The Coming Economic Collapse | Shift Frequency on The Percentage Of Adult Americans That Own Investment Gold Is…
- 16 Signs That Most Americans Are NOT PREPARED For The Coming Economic Collapse | Olduvaiblog on The Percentage Of Adult Americans That Own Investment Gold Is…