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Peter Schiff: Pay Attention Because Trump and Treasury Secretary Icahn Mean Trouble!
“Imagine everyone on a party bus, having a great time! Then imagine the bus going over the cliff. GUESS who is pushing the bus?” JANET YELLEN! It’s been a week since Peter Schiff’s last podcast, and I’ve been on vacation for about a week, so it should be clear the kind of pull I have here… KIDDING! I’m totally kidding!
Anyway, Let’s jump in. In the first minutes of the podcast, there has already been enough NONSENSE reported by the mainstream media, it’s clear the people of the United States need to begin taking lessons from children. A child puts his hand on a hot stove, and after one or two of those instances, the child learns for life that putting their hand on a hot stove is a BAD idea. If only Americans and their handling of economic news could learn from the kids. STAGGERING!
The bad news keeps pouring in. We are near mini-black Monday lows. The Dow is down about 2000 points or over down over 11% putting it clearly in correction mode, and many stocks are at or past 20% off their highs, putting them in full on recession. Still, when the Fed suggests that rates might be raised in December, people have to be LUNATICS to believe it. What was the excuse for not raising rates in the beginning of the year? Remember back then it was a rough winter with too much snow to blame? Did people not notice half the country never saw a snowflake, but their sales were down just as bad? As has been repeated over, and over, and over, and over, the Fed is NOT going to raise rates, and even if they were, they sure as hell wouldn’t do it anywhere near the Christmas season.
The last time we heard a HINT of rates going up not 1.5%, not 1.25%, not 1%, but a whopping .25% or 1/4 of 1%, the market dropped by 2,000 points. Does anyone in their right might think the Fed is going to do that and draw any more attention than necessary to their artificially inflated lie during the Christmas (excuse me… Holiday) season and wreck the one last vestige of making the illusion appear real? PLEASE!
For the final time, regardless of the NONSENSE the talking the heads on television are saying, there is a ZERO percent chance rates are going up. Heck, there is a NEGATIVE chance they are going up. As Peter said not too long ago, Janet Yellen and the Fed Are Conning the World Financial Markets. As Peter has explained a million times, even IF the labor participation rates comes off the lowest its been since the late 1970’s with the holiday season hiring (creating an illusion the economy is getting better), there is NO chance the Fed will risk rating rates, in an attempt to convince people the economy really is improving, only to have to lower them again after the holiday help is let go and things return to normal. That would be the ULTIMATE sign to even the people who still haven’t “gotten it” yet, that this whole recovery is a sham. It’s the recocery with no jobs and 94,000,000 not working, and people think rates could go up? God help us. Even if Janet Yellen believes the economy is getting better, (which she knows it isn’t), raising rates, then having to lowering then again right after would sent the markets into free fall.
Although I used to be a registered financial consultant, I no longer am, so I cannot give financial advice, but before you make any rash decisions about taking liquid cash and paying down debt, If it were me, I would talk to a financial professional who specializes in planning, and does not sell products. Without naming names, the vast majority of financial consultants that do financial planning, also sell products, and guess what they’ll sell you in an attempt to “weather the storm?” HINT: IF you go to a Chevy Dealership, do you think you are more inclined to be told the market for cars is bad, or be sold a Mercedes? Enough said.
While markets suffer over the Fed’s rate hike rhetoric, Trump claims to have all the answers to the country’s economic woes and masterfully uses publicity to target the voter’s primary concerns. Meanwhile, Carl Icahn, who could be Trump’s Treasury Secretary, pinpoints the Fed’s role in U.S. economic troubles, albeit, with too light a hand. Hear Peter’s outlook below, and realize that people are being duped, for Trunp’s gain, NOT theirs! Most importantly, listen to Peter’s take on Trump’s speech. Peter discusses how the speech was MASTERFULLY done, but for the person who doesn’t truly understand the economy. Trump supporters beware.
TRUMP IS USING HIS ULTRA SUCCESS TO DUPE PEOPLE INTO BELIEVING THE NON-POLITICIAN IS ACTUALLY THE BEST POLITICIAN OF ALL! THINK ABOUT THAT!
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TO ANYONE WHO STILL THINKS THE MARKETS ARE FINE… KEEP READING…
Michael Snyder writes:: A lot of people out there expected something to happen in September that did not ultimately happen. There were all kinds of wild theories floating around, and many of them had no basis in reality whatsoever. But without a doubt, some very important things did happen in September. As I warned about ahead of time, we are witnessing the most significant global financial meltdown since the end of 2008. All of the largest stock markets in the world are crashing simultaneously, and so far the amount of wealth that has been wiped out worldwide is in excess of 5 trillion dollars. In addition to stocks, junk bonds are also crashing, and Bank of America says that it is a “slow moving train wreck that seems to be accelerating“. Thanks to the commodity price crash, many of the largest commodity traders on the planet are now imploding. I wrote about the death spiral that has gripped Glencore yesterday. On Tuesday, the stock price of the largest commodity trader in Asia, the Noble Group, plummeted like a rock and commodity trading giant Trafigura appears to be in worse shape than either Glencore or the Noble Group. The total collapse of any of them could easily be a bigger event than the implosion of Lehman Brothers in 2008. So I honestly do not understand the “nothing is happening” crowd. It takes ignorance on an almost unbelievable level to try to claim that “nothing is happening” in the financial world right now.
Within the last 60 days, we have seen some things happen that we have never seen before.
For example, did you know that we witnessed the greatest intraday stock market crash in U.S. history on August 24th?
During that day, the Dow Jones Industrial Average plunged from a high of 16,459.75 to a low of 15,370.33 before rebounding substantially. That intraday point swing of 1,089 points was the largest in all of U.S. history.
Overall, the Dow has down 588.40 points that day. When you combine that decline with the 530.94 point plunge from the previous Friday, you get a total drop of 1119.34 points over two consecutive trading days. Never before in history had the Dow fallen by more than 500 points on two trading days in a row. If that entire decline had fallen within one trading day, it would have been the largest stock market crash in U.S. history by a very wide margin, and everyone would be running around saying that author Jonathan Cahn was right again.
But because this massive decline fell over two consecutive trading days that somehow makes him wrong?
Are you kidding me?
Come on people – let’s use some common sense here. We are already witnessing the greatest global stock market decline in seven years, and after a brief lull things are starting to accelerate once again. Last night, stocks in Hong Kong were down 629 points and stocks in Japan were down 714 points. In the U.S., the Nasdaq has had a string of down days recently, and the “death cross” that has just formed has many investors extremely concerned…
The Nasdaq composite spooked investors on Monday after forming a death cross, a trading pattern that shows a decline in short-term momentum and is often a precursor to future losses.
A death cross occurs when the short-term moving average of a security or an index pierces below the long-term trend, in this case the 50-day moving average breaking through the 200-day moving average.
In the past month, similar chart patterns formed in the S&P 500, Dow and small-cap Russell 2000, but the Nasdaq avoided a death cross formation until Monday.
What we witnessed in September was not “the end” of anything.
Instead, it is just the beginning.
And if you listen carefully, some of the biggest names on Wall Street are issuing some very ominous warnings about what is coming. For instance, just consider what Carl Icahn is saying…
Danger ahead—that’s the warning from Carl Icahn in a video coming Tuesday.
The activist says low rates caused bubbles in art, real estate and high-yield bonds—with potentially dramatic consequences.
“It’s like giving somebody medicine and this medicine is being given and given and given and we don’t know what’s going to happen – you don’t know how bad it’s going to be. We do know when we did it a few years ago it caused a catastrophe, it caused ’08. Where do you draw the line?”
Even people like Jim Cramer are starting to freak out. He recently told his audience that “we have a first-class bear market going”…
Jim Cramer, the ex-hedge fund manager and host of CNBC’s show “Mad Money,” has been vocal recently on air, saying repeatedly that he doesn’t like the market now, and last week said “we have a first-class bear market going.” Similarly, Gary Kaltbaum, president of Kaltbaum Capital Management, has been sending out notes to clients and this newspaper for weeks, saying the poor price action of the stock market and many hard-hit sectors, such as energy and the recently clobbered biotech sector, has all the earmarks of a bear market. Over the weekend, Kaltbaum said: “We remain in a worldwide bear market for stocks.”
As I have warned repeatedly, there will continue to be ups and downs. The stock market is not going to fall every day. In fact, on some days stocks will absolutely soar.
But without a doubt, we have entered the period of time that I have warned about for so long. The global financial system is now beginning to unravel, and any piece of major bad news will likely accelerate things.
For instance, the total collapse of Deutsche Bank, Petrobras, Glencore, the Noble Group, Trafigura or any of a number of other major financial institutions that I am currently watching could create mass panic on the global financial stage.
In addition, an unexpected natural disaster that hits a financially important major city or a massive terror attack in the western world are other examples of things that could accelerate this process.
Our world is becoming increasingly unstable, and we all need to learn to expect the unexpected.
The period of relative peace and security that we all have been enjoying for so long is ending, and now chaos is going to reign for a time.
So get prepared while you still can, because there is very little time remaining to do so…
FOR LINKS TO UNDERSTAND THE ECONOMY & THE COMING ECONOMIC COLLAPSE:
Disaster: Will EU Become a New Enemy to the U.S. After Refugees Collapse EU?
Peter Schiff: “The Fed Admits Rates Could Stay at Zero Forever”
Peter Schiff with Mr. “I Have No Fear Of an Economic or Stock Market Collapse”
Peter Schiff Explains Why Financial Bubbles Are Ready to Pop
Peter Schiff: Everybody Is Preparing for Wrong Outcome in US Economy
The Elite Have Prepared For the Coming Economic Collapse – Have You?
China Warns Washington It’s Been Liquidating U.S. Treasuries
2 Day Crash That Was Larger Than Any 1 Day Market Crash In U.S. History
10 Signs the US is Transitioning to Third World Country Status (Videos)
Peter Schiff On China’s Currency Devaluation and the Federal Reserve Board
10 Horrifying Realities Americans Find Too Awful To Face
Gerald Celente: Massive Market and Trade Instability Will Cause WW III
China Knocking on the Door of Reserve-Currency; World Teeters on Collapse
Peter Schiff: Greece Was a Sideshow. Americans Need to Worry About Starving
Gerald Celente Predicts Economic Collapse Means World War III (Video)
Can You Imagine Empty Grocery Stores?
Putin Makes Chilling Threat to Obama That Could Change Everything
Gerald Celente: America Headed Towards Total Financial Collapse
Peter Schiff: China and Switzerland is Killing U.S. Dollar
Deathblow to the Dollar – Even Our “Allies” Abandoning U.S.
What Will Happen To You When The Dollar Collapses?
Gerald Celente: “America Is A Collapsing Third World Country”
Gerald Celente: A Worldwide Panic Is Beginning And “There Is No Recovery”
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It is is sad, what do you think will happen when you give a small group of people the ability to create money out of thin air?
~ ”WHAT A LOT OF WEALTHY PEOPLE ARE FINALLY REALIZING, IS THIS, THAT IT IS HIGHLY LIKELY THAT THEY ARE GOING TO LOSE THEIR WEALTH = IF THE U.S DOLLAR GOES TO A NICKEL, OR WHATEVER MONETARY VALUE, & IF YOU HAVE 10 BILLION DOLLARS, & THE DOLLAR GOES TO A NICKEL = YOU NOW HAVE 10 BILLION NICKELS, OR WHATEVER VALUE THE U.S. DOLLAR HAPPENS TO PLUMMET TOO” ~
SO PEOPLE WOULD HAVE TO DO THE MATH, W/ WHATEVER DOLLARS THEY MAY ACTUALLY POSSESS…
PSST ~ TO BE HONEST, THIS WILL OCCUR PRIOR TO A POTENTIAL NEXT PRESIDENT ELECTION TAKING PLACE, LET ALONE THE HIGHLY UNLIKELY NEXT PRESIDENT ACTUALLY TAKING OFFICE…
THUS SAYS THE LORD GOD ALMIGHTY ~ I AM…
~ ”LET ME SAY ONE OTHER THING, WHERE PETER PUSHES BUYING GOLD, AT THE END OF THE VIDEO, I AM NOT SURE IF PETER EVER READ THE BOOK OF REVELATION, BUT IF HE HAS READ IT, APPARENTLY, PETER DOES NOT COMPREHEND, THE WORDS THAT HE HAS READ, WHERE IT SAYS: ”IN ONE HOUR, THE RICH MEN OF THE WORLD WILL WEEP & HOWL, BECAUSE THE RICHES OF THE WORLD HAS COME TO NOUGHT / NOTHING = IT SAYS THAT, IT WILL BECOME SO BAD THAT PEOPLE WILL BE THROWING THEIR SILVER, & THEIR GOLD INTO THE STREETS, BECAUSE BOTH OF THEM HAS BECOME LIKE DROSS” ~
PSST ~ I ADVISE YOU TO LOOK UP THE DEFINITION OF DROSS, & SEE WHAT THE MEANING OF DROSS ACTUALLY MEANS…
GET RID OF OBAMA AND WATCH THE TROUBLES DISAPPEAR
Lori, the problems we face are not problems created by the President, the problems we face are created by the Rochschild’s central banking cabal. Take away the cheap money, eliminate central economic planning and you’ll see the markets stabilize
Getting rid of that little rat turd won’t change anything. You/we need to get rid of those corrupt greedy zionist pigs who pull the puppet strings of the so called leaders.
And you’re gonna achieve that by commenting on a third rate website that is akin to the Onion, but less funny?
If Trump wants to work on protecting his wealth, and meanwhile barry has worked very hard to destroy it, I say run with Trump.
Peter Schiff is upset because Carl Icahn bashed his buddy Laurence Fink for loading up the blackrock bus with investors by selling them high yield junk bonds. The only thing that’s holding these companies out of bankruptcy is near zero interest rates. When interest rates rise the bus is going over the cliff.
Yellen won’t let that happen until Obama is ready to leave office.
Peter will never get it. Financial analysis is a fool’s errand. All markets are controlled and manipulated. The only time you have chaos is when the manipulators are fighting among themselves for position and power. A quick look of the gold and silver market should show anyone that markets are manipulated . It is the same with the stock and bond markets, currency and commodity markets. As long as one is looking at a keystroke and not the actual product you can be hoodwinked. If one believes the numbers on inflation that the government puts out, all one has to do is check out beef , poultry, and grain prices at the supermarket to know that it’s a canard . It’s much easier in the fantasy world that appears on a computer screen to dupe the public, but when that same public is dishing out $6.50 for a ham sandwich which went for $4.50 a year ago they begin to get see the truth, but are at odd to know what to do with it.