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Peter Schiff: “The Fed Admits Rates Could Stay at Zero Forever”

Thursday, September 17, 2015 17:00
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(Before It's News)


The long awaited, much anticipated announcement of today’s Fed decision finally came out… and to anyone with an ounce of common sense, the decision to keep rates at zero percent after FIFTY FOUR straight months at zero percent comes as no shock. As I said the other day, if the economy is doing SO well, like we’re told it is doing, why did a former aid to Janet Yellen say it would be a “serious error” to raise interest rates 1/4 of ONE percent? Not 1.5%, not 1.25%, not even 1%… but 1/4 of ONE percent would be a “serious error?” Seriously?

Then, during the question and answer, on whether or not negative rates are coming to the United States, Janet Yellen said:

“I don’t expect that we’re going to be in a path of providing additional accommodation. But if the outlook were to change in a way that most of my colleagues and I do not expect, and we found ourselves with a weak economy that needed additional stimulus, we would look at all of our available tools. And that would be something that we would evaluate in that kind of context.”

TRANSLATION: Rates could very well remain at zero forever. Yes, she actually says that. 

The only thing worse than how bad the Fed keeps attempting to bluff the markets with the threat of raising interest rates, is the fact that investors keep buying it hook, line, and sinker. Uh HELLO! Janet Yellen said for the Fed to raise rates, there would have to be improvement in the labor market. Does ANYONE see that coming ANY time soon? If so, please let me know where you got whatever you’re on. PLEASE!

The only people on earth believing the labor market is getting better is Barack Obama and the rest of Crime Inc. that are cooking the books and lying to themselves so often they’re falling for their own lies. As Michael Synder explains in the article below, the labor market is NOTHING like what Team Spenderbama would have you believe. 

In the video below, arguably the funniest thing Peter says is, “I wonder if anyone other than me is going to report that Janet Yellen said rates could remain at ZERO FOREVER!” Then Peter sounds off… and WOW does he sound off, because all the kidding ends once the currency crisis strikes… then the game the Fed is playing is OVER. Hear what he has to say:




Michael Snyder reports:

The Obama administration is telling us that the unemployment rate in the United States has fallen to 5.1 percent, but does that number actually bear any resemblance to reality?  On Friday, news outlets all over America celebrated the fact that the U.S. economy added 173,000 jobs in August.  We were told that the unemployment rate has fallen to a seven year low and that wages are going up.  So everything must be getting better for the middle class, right?  After all, isn’t that what the official numbers are telling us?

The financial markets are buzzing over this news because the unemployment rate has fallen into a range that the Federal Reserve has typically considered to be “full employment”, so there is an expectation that the Fed may raise interest rates shortly.  The following comes from Business Insider

The unemployment rate fell to 5.1% in August, the lowest since April 2008. This was lower than forecast, and put the measure in the middle of the 5.2% – 5.0% range the Federal Reserve considers to be “full employment.” The economy added 173,000 jobs, below the expectation for 217,000, although August payrolls are usually revised higher. We also saw some wage growth, with average hourly earnings rising 0.3% month-on-month, and 2.5% year-over-year. The payrolls gain for July was revised up to 245,000 from 215,000.

But do we actually have anything close to “full employment” in this country?

Of course not.

The truth is that the only way they have been able to get the official “unemployment rate” to steadily go down over the past few years is to eliminate hundreds of thousands of Americans that are chronically unemployed from the official labor force numbers every month.  Jim Quinn elaborated on this very eloquently in one of his recent articles

Now for the plunge in the unemployment rate. That comes from the household survey. The fact is that 220,000 more Americans entered the work force in August. According to this survey, 196,000 more Americans were employed. In the real world this would result in the unemployment rate going UP. Not in the Bizarro world of the BLS. They expect the peasants to believe that 261,000 Americans, of their own free will, voluntarily left the workforce in August because they don’t need a job to pay the bills, feed themselves, and keep a roof over their heads. The idiocy of this ridiculous assumption is breathtaking to behold. Only an Ivy League educated economist, CNBC shill, or complete and utter moron could believe this drivel.

At this point, the percentage of Americans that are actually considered to be “participating in the labor force” is the lowest that it has been since 1977.

According to the Obama administration, more than 94 million working age Americans are “not in the labor force”, and so they don’t count as being unemployed…

A record 94,031,000 Americans were not in the American labor force last month — 261,000 more than July — and the labor force participation rate stayed stuck at 62.6 percent, a 38-year low, for a third straight month in August, the Labor Department reported on Friday, as the nation heads into the Labor Day weekend.

Personally, I believe that the civilian employment-population ratio provides a much more accurate picture of the employment situation in this country.  It is a measure of the percentage of the working age population that actually has a job.

As you can see from the chart below, the percentage of working age Americans that are actually working has barely risen from the depths of the last recession…





Does that look like an “employment recovery” to you?

It sure doesn’t to me.

According to John Williams of, if honest numbers were being used we would actually have an unemployment rate of 22.9 percent in this country.

But if the mainstream media reported that number, everyone would be talking about a “Great Depression” and we would all be complaining about what a horrible job Obama was doing.

Sadly, the cold, hard truth is that the U.S. economy has been collapsing for a very long time.  According to CBS News, the number of “ultrapoor” Americans that live on less than 2 dollars a day has doubled since 1996…

By one dismal measure, America is joining the likes of Third World countries.

The number of U.S. residents who are struggling to survive on just $2 a day has more than doubled since 1996, placing 1.5 million households and 3 million children in this desperate economic situation. That’s according to “$2.00 a Day: Living on Almost Nothing in America,” a book from publisher Houghton Mifflin Harcourt that will be released on Sept. 1.

The measure of poverty isn’t arbitrary — it’s the threshold the World Bank uses to measure global poverty in the developed world. While it may be the norm to see families in developing countries such as Bangladesh and Ethiopia struggle to survive on such meager income, the growing ranks of America’s ultrapoor may be shocking, given that the U.S. is considered one of the most developed capitalist countries in the world.

How can that be possible if we are close to “full employment”?

In a recent article on the Economic Collapse Blog, I explained that 46 million Americans used food banks in one recent year, and that lines start forming at some U.S. food banks as early as 6:30 in the morning because people want to get something before the food supplies run out.

No, economic conditions are definitely not “good” in this nation.

We are being told lies by our politicians and by the mainstream media.  The numbers simply do not match what is going on in the real world.

We can even see this in some of the wealthiest areas of the entire country.  In New York City, for example, they are dealing with an explosion in the number of people that are sleeping on the streets

They are sleeping in front of the Empire State building, sprawled in front of the doors of Macy’s, and panhandling outside Grand Central.

New York is in the grip of a homeless epidemic so bad that it has raised fears of the city slipping back into the disorder of the 1970s and 1980s.

The city’s police chief this week said that as many as 4,000 people are now sleeping rough in the city, in a crisis which even the city’s ultra-liberal mayor has finally acknowledged after months of denials.

Police officers have identified 80 separate homeless encampments in the city, 20 of which are so entrenched that they have their own furniture, while its former mayor Rudolph Giuliani has spoken scathingly of how his successor is failing to keep order.

Robert Kiyosaki, the best-selling author of “Rich Dad, Poor Dad“, recently told Newsmax that the “global economy is in a collapse right now”.  And he is right.  Things are getting worse in Asia, in Europe and in South America.

Things are also getting worse for the U.S. economy.  The “employment recovery” that we have already seen is all the employment recovery that we are going to get.

From here on out, millions upon millions of American workers are going to be losing their jobs and the suffering in this country is going to be off the charts.

So don’t fall for the lies that Obama and his minions are telling you.

All you have to do to see the truth is to open up your eyes and look at what is happening all around us.



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

Warning: New Technological Breakthroughs Threaten Up to 47% of U.S. Jobs

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

So it Begins: The Bond Crash Looks to be Here, and Investors Are Panicking

Global Reset Coming! Central Banks Are Losing Control Of Financial Markets

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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Total 6 comments
  • They could have raised it at least 0.0001% that would work.??

    Eat More GMO :mad:

  • The problem is the balance sheet of the Fed. They have $4T on it but only about $50B in real assets. If those $4T get “marked to market” after interest rates go up, it could be deemed insolvent.

  • Next the Federal Reserve will offer money at negative interest. That means the Fed will pay banks to borrow money for free, knowing the investments will fail and borrowers will be in debt for the principal they got paid to accept.

  • Hilsenrath – 9.17.15

    “Fourteen central banks, have tried to raise interest rates since the “08″ crash, and have failed.”

  • Jud

    Like myself, I left the workforce with so many early 60′s folk, only to transfer my source of income to a “retirement” account or Social security. The jobs some of us left have not been filled and “we” simply transferred our incomes to systems which rely on younger workers to support. As we left the work force the reduction is not counted, to my knowledge, in statistical reporting. It would be interesting to see a study showing the dilution of the economy by retired persons who don’t really contribute to the employment numbers. Is it a kind of a shell game played by the FED by not counting people who leave the workforce which shrinks the pool of available workers?

  • Federal Reserve will raise interest rate if they think that is a part of what is necessary to DESTROY CHINA’S MILITARY ABILITIES to prevent them from taking over Asia and other territory. See Alan Greenspan declares war on china. NO UPSTAGING OF THE POPE USA TOUR, the only reason Fed’s did not raise rate, which I think is probably part of Fed’s arsenal to destroy China’s military might by striking its ecomony as RATE HIKE WILL CAUSE GLOBAL ECONOMIC CRASH. The snake Greenspan said oh what diference it make that one central bank raises overnight rate, YEAH WELL WHEN THAT ONE CENTRAL BANK IS THE one central bank that ISSUES THE WORLD’S RESERVE CURRENCY, it DOES MATTER, despite Greenspans intimation to the contrary, but of course he knows hiking world reserve currency interest rate will destroy what remains of the global economy; but knowing how China feels about a rate hike (over 100 billion in UST’s dumped by China in July and August), and to buy some time if the Chinese will be suckers, the Fed’s made it appear their decision not to raise rates took into consideration the impact of a rate hike on China’s weakened economy and other overseas markets, but in fact the only reason no rate hike is NO UPSTAGING OF POPE’S USA TOUR by wild global market crashes that would ensue a Fed rate hike. Fact is China recently stated that the emerging markets and China need time to adjust to a fed rate hike. Fed Reserve that corrupt thing of the Switzerland Knights Templar and Vatican do not operate that way, they give ON THE SPOT NOTICE, at 2:14 p.m. the concluding day of their every 45 day meeting is when it is announced, no prior notice. China wants prior notice, China ain’t getting prior notice from the Fed and CHINA IS AMONG THE NATIONS AGAINST THE USA that is spoken of in Daniel 11:14:

    DANIEL 11:14 At that time many shall come against the king of the south [USA]; also the robbers of God’s people shall exalt themselves to establish the vision but shall fall

    Do not heed the wicked Christians, they DO NOT UNDERSTAND the Son of God:

    Daniel 12:9 … go you way, Daniel, for the words are closed up and sealed until the time of the end

    Daniel 12:10 … none of the wicked shall understand, but the wise shall understand

    Daniel could not understand what the heavenly beings meant when they said:

    Daniel 12:7-8 … it shall be for a time and times and a half and when he shall have accomplished to scatter the power of the holy people, all these things shall be fulfilled

    THE WORDS WERE UNSEALED BY THE SON OF GOD and written in John’s Book of Revelation. Said book was altered somewhat by the 325 AD Council of Nicea, particularly in Chapters 1-3. The wicked Christians can not understand the Son of God saying: Rev. 22:14 Blessed are those who do God’s commandments

    therefore, how shall they understand the prophecies of the Son of God in the Book of Revelation? If they understood the Son of God saying DO GOD’s COMMANDMENTS, then the wicked Christians would turn from wicked false apostle Pharisee Paul:

    Romans 6:14 You are not under the law, you are under grace

    But the wicked Christians do not understand the Son of God in John’s Book of Revelation where the Son tells how we should live, how can they understand the prophecies of the Son of God? And they can not understand (Daniel 12:10). The world is very near the time when the Jews (under probably Chinese occupation) shall rebuild God’s Jerusalem Temple. Then the Temple is polluted by Vatican’s dogs, the vile king and his army, and once that vile king dies then begins the great tribulation (Daniel 11:45-12:1, Rev. 6:12-17, Matthew 24:15-16).

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