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Peter Schiff: Any Hype About the Feds Future Actions Is Meaningless

Wednesday, September 9, 2015 19:01
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Schiff

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In the video below, Peter Schiff comes out swinging with his thoughts on the massive overseas market upticks, and the U.S that followed the trend early in the day. Unfortunately, in the final hours of trading, the U.S. market faltered, and finished over 200 points down from where it started the day. As usual, Peter says the things most economists won’t go near. I don’t think I’d go as far as to say Peter tells people to relax, but here is the simple fact of the matter: The U.S. economy is in no shape to even consider the thought of lasting rate hikes, so if people would just relax a little, the argument can be made that once the fed hike finally does take place, it will be merely setting up the next rate cut, as crazy as that sounds. 

 

The second video, the question comes up as to whether or to the United States economy is actually recovering – or are we being lied to by the mainstream establishment? Why has Gold recently hit a five year low despite long term predictions of it’s rise in value? Are the government statistics on inflation accurate? What does the future hold for the US Dollar? Why has the Dollar strengthened and how will this play out in the long term? What does Peter Schiff think about Donald Trump and his recent success in the Republican presidential primary?

The video also includes: China economic situation, the Shanghai Stock Exchange Composite Index collapse, Puerto Rico debt default, gold repatriation, physical vs. paper gold holdings, the student debt bubble, the new real estate bubble, more quantitative easing, interest rates and what happens if you raise the minimum wage to $70,000 per year.

THE DOLLAR IS GOING TO COLLAPSE ON A GRAND SCALE, BECAUSE THERE IS NO WERE LEFT FOR IT TO GO. 

By Crashing, it means the United States will lose the status of the world currency. To truly understand why losing the reserve currency is going to catapult the U.S back into the stone age, you need facts, not political zingers or worthless platitudes. The following is from my post titled, Deathblow to the Dollar – Even Our “Allies” Abandoning U.S., and it gives the 5 minutes summary on why the gig is up. 

PROTECT YOUR ASSETS 

This reason this generation of Americans is so ignorant and has no concept of what losing the reserve status will mean to our way of life, is because our leaders have deliberately kept the knowledge from those who need to hear it. Today’s generation has never known life here in the U.S. as anything other than the Reserve Currency. Being the Reserve Currency has been an ongoing scam on the rest of the world, and the rest of the world has finally caught on. Other countries pay their workers crap wages to make OUR products, and then LEND us the money to buy the products THEY produce. It was only a matter of time before all these other countries figured out they did’t need to keep funding OUR extravagance at THEIR expense. 

OBAMA SPITTING IN THE FACES OF OUR ALLIES HAS NOT HELPED AMERICA!

Being the world Reserve Currency has given America special privileges and ENORMOUS power. Our status has allowed us to borrow money at rates a fraction of our “ALLIES.” With everything being denominated in U.S. Dollars, it gave the United States control in everyone else’s financial affairs. It appears everyone else got tired of it. Furthermore, whenever trouble has struck, America has just started up the printing press. Since taking office, Obama has printed approximately $85 BILLION PER MONTH OUT OF THIN AIR. By joining China’s new bank discussed below, our “ALLIES,” and the rest of the world, have sent a CLEAR message to America: 

YOU ARE BROKE, AND YOU ARE OBSOLETE!

As the author below states, “The blows to America’s economic might are descending rapidly and forcibly. Brace yourself: A new economic age is about to begin.” The infrastructure is being built for a world without the United States.

Dollar As World’s Reserve Currency Threatened

dallar

 

Not jut the dollar, but the world is ready to divorce the United States..

 

Global Research Reports:

US dollar dominance finances Washington’s reckless spending, global militarism, its empire of bases, endless wars, corporate takeovers, as well as speculative excess creating bubbles and economic crises – at the expense of democratic freedoms and beneficial social change.

China, Russia and other nations increasingly trading in their own currencies pose a significant threat to dollar dominance. Mahdi Darius Nazemroaya explained Washington’s currency war on China, saying:

The Chinese are in the process of displacing the monopoly of the US dollar. They are dropping their US Treasury bonds, stockpiling gold reserves, and opening regional distribution banks for their own national currency.

This will give them easier access to capital markets and insulate them from financial manipulation by Washington and Wall Street.

China bashing by public and private US officials is part of a campaign to denigrate its government – making inflammatory accusations without proof about hacking, defying its legitimate right to do what it wishes in its own waters, and threatening sanctions – legal only by Security Council members, never by individual countries against others, Washington’s longstanding weapon against independent governments.

“As the financial architecture of the world is being altered by China and Russia, the US dollar is gradually being neutralized as one of Washington’s weapon of choice,” Nazemroaya explained.

The post-WW II US-dominated international monetary system is threatened with unraveling. Washington is fighting back with propaganda, energy, financial, economic and currency wars against China and Russia, said Nazemroaya.

Russia sold a fifth of its $125 billion in US Treasuries holdings last March. China’s US Treasuries holdings exceed $1 trillion dollars. It’s been aggressively dumping them.

It’s gone from the world’s largest buyer to its biggest seller. Will other countries follow suit? Nations are increasingly trading in their own currencies. Weakening America’s financial strength is the best way curb its imperial ambitions.

Russia drafted legislation aimed at eliminating dollars and euros in trade between Commonwealth of Independent States (CIS) countries: Armenia, Belarus, Kazakhstan, Kyrgyzstan, Tajikistan, Russia, and other former Soviet republics.

A Kremlin statement said “(t)his would help expand the use of national currencies in foreign trade payments and financial services and thus create preconditions for greater liquidity of domestic currency markets.”

It would facilitate regional trade and help achieve economic stability. It would reduce dependency on the world’s two dominant currencies.

China’s central bank launched a Heilongjiang Province yuan/ruble program – Russia’s currency replacing the dollar.

Both countries are increasingly trading in their own currencies – bypassing dollar transactions. If enough other countries follow suit, dollar strength will weaken. Its hegemonic ambitions will be curbed – how much, how soon remains to be seen.

Stephen Lendman lives in Chicago. He can be reached at [email protected].

His new book as editor and contributor is titled “Flashpoint in Ukraine: US Drive for Hegemony Risks WW III.”

http://www.claritypress.com/LendmanIII.html

Visit his blog site at sjlendman.blogspot.com.

Listen to cutting-edge discussions with distinguished guests on the Progressive Radio News Hour on the Progressive Radio Network.

It airs three times weekly: live on Sundays at 1PM Central time plus two prerecorded archived programs. 

 

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  • Factory Farms FEAR the MooCow

    You know… if the Worlds Reserve Currency was chinese money, we would be saying the same thing about the chinese yuan….. but China is Communist and we would all be dead for talking bad about communist china. :shock:

    Eat More GMO :mad:

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