Also in this playlist...
This transcript is automatically generated
So a downturn for the stock market -- -- even the economy is this recovery in need of a recovery.
Peter Schiff thanks so and it's more than just a -- -- is the CEO of -- Pacific capital Peter.
You -- and nine about the -- -- are all the time but does this give the Central Bank.
Leeway and room to take even more action because economy looks -- Well unfortunately it's gonna take more action but the action it takes is -- gonna help the economy it will make gasoline more expensive for Americans who want to buy it.
As well as everything else but.
The Fed can't help the economy he can create inflation.
And when he creates inflation sometimes it creates the illusion of a growing economy but you don't want it at the mistake -- for reality.
No we had a rough jobs number they're gonna get a lot rougher a lot of the jobs that were created over the past year -- -- are gonna be lost because they were phony.
They were created based on cheap money but -- -- cheap money they gave us these -- jobs is responsible for rising prices eventually the bond market's -- figured out.
The Fed's not gonna be able -- manipulate interest rates any longer.
I any interest rates are gonna rise as -- the price of gas well where's.
The inflation and that's at least what the treasury market this man hater and gasoline prices are up -- food prices are up.
But you have home prices that are still fall.
Well that's not you know has a renewed inflation -- -- asset prices are coming down.
But the cost if you actually wanna buy a house and you want to pay your electric bills you -- -- pay your maintenance you wanna pay for your insurance you wanna pay.
Your property taxes I would say the cost of owning a home is going not even though the price of buying one is going down and look at rents rents are going up all around this country.
That is rents are recovering is -- many people would describe it.
But Peter do you think though talking about gasoline prices in some of these inflated prices that are hitting America's do you blame the Federal Reserve directly -- that.
Absolutely I mean are also bring congress and the president because if it wasn't for these big budget deficits then the Fed would have to print all this money up -- to monetize it but I think the principal -- blame.
Rests at the Federal Reserve just like the Federal Reserve caused.
The housing bubble the Federal Reserve is the one that is responsible because of the Federal Reserve was independent.
And had a at a -- a tighter monetary policy it would be possible for the government to run these big deficits but remember never went when the Fed was inflating a housing bubble they lied and pretend -- didn't exist -- Federal Reserve Bank in New York actually commissioned a study in 2004.
-- that concluded that there was no evidence that a housing bubble and Ben Bernanke himself denied there was a housing bubble even after it burst in 2007.
So the same way they lied about housing bubble they created they're lying now about all the inflation they're hiding behind these phony CPI numbers to pretenders no inflation because they don't wanna raise interest rates just like they didn't wanna raise interest rates back in 0405.
Or at least they didn't wanna raise them.
At a faster clip than the court appointed they work so they had to deny the obvious and they're doing again because they have an agenda which is to postpone the pain -- -- of the election.
There do you are you suggesting know that the Federal Reserve is in cahoots.
With the White House -- Peter and meet people could argue that Ben Bernanke company don't wanna do anything one way or another that would sway the election but.
To suggest that is -- -- one pretty far too far.
-- -- -- -- I think we -- was -- I pump the president didn't know the very pointed question I promise to have you back on.
Very -- to answer that but again we're getting and terrific discussion that was Peter Schiff.
-- -- Pacific yeah.
Filter by section