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Euro Pacific Capital’s Peter Schiff argues that quantitative easing is “toxic” for the economy.
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If he's the president of Euro Pacific Capital -- alcohol but the real crash.
All right -- Looks like we've got a global slowdown coming always in progress -- official law.
Are you saying we get a crash that this is 2008 all over again.
Unfortunately -- it's going to be worse than 2008 that wasn't the real -- I think the real -- Is still calming you know before -- I was on I overheard your discussions about wanted to.
-- of easing in -- QE3 is calming.
I was predicting QE3 when the Fed did QE2.
And the reason I knew QE3 was Communist because I knew QE2 wouldn't work and that's why QE four is gonna follow QE3 it never works it just makes the economy sicker the reason we're -- so screwed up.
Is because all this.
Q week.
Is toxic.
Does it kick the can down the road so bombing by that is if the Europeans print euros and about up friends dollars.
Does that just delay the crash that you'll talking about.
Well it it makes things worse and I I I don't doubt that we're gonna try to pressure Germany into printing is -- worthy -- that's trying to I'd get a friend dates for the us to go to the go to the beach -- were bad influence on everybody.
But it's much better to allow an homage to restructure its like if you're if you're sick you wanna cure the disease.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- And that's much worse and then the pain associated with allowing the economy to restructure I'd let you know -- -- let's interest rates go up we have to realize we're gonna have a deeper recession I I -- -- banks are gonna fail and the government's gonna happen.
Class and I I I hear what you say.
But I'm wondering why hasn't the price of gold we've gone off.
Very recent it happens yeah yeah yeah well and what it's is Steve went out to a -- 18100 books then come back down to 15100 dollars that's not exactly a spike at the precise moment when you've got people considering printing trillions of euros -- trillions of dollars why is it up -- law.
Well look you don't when I first started coming on fox -- was around 400 so it's been going up and hasn't skyrocket in the last year but that doesn't mean that it won't I think there are a lot of people -- don't understand what's going on look at how many people are buying the dollar look at people buying treasuries that makes no sense either.
What people were lining up to -- FaceBook and they quickly discovered that they didn't want that either.
I think you know the dollar is gonna end up being a FaceBook of safe havens.
I think people that are that are selling -- -- making a mistake my clients are still buying I've been sold any in my goldilocks I think it's going a lot higher I think that eventually people are gonna realize that goal isn't a risk asset.
It is the safe haven asset that the risk lies in the dollar that the risk -- treasuries and other currencies that are being printed into oblivion.
Current we they have we're looking at a price of -- when looking at treasuries were looking of the dollar looking at everything and is a very nail biting time I think we can all agree on the outlook.
Peter Schiff thanks for coming back to his long time since we saw -- coming and soon appreciate it.
