Peter Schiff: Fed getting ready to increase QE and here’s why…
Video first released on 10/30/13
Taper, Taper, Taper! It seems all we’ve heard during 2013 is that the Fed will scale back its asset purchases sooner rather than later. First it was September 2013, then that became December 2013, or maybe it was March 2014 (I can’t keep track anymore). It should come to no surprise to his fans that Peter Schiff disagrees with this widely held belief. In fact, Peter has been suggesting for a few months now that the Fed will do the unthinkable: increase QE.
Peter was recently interviewed by Larry Kudlow on CNBC and had this to say: “When you go back to this Fed statement – the Fed doesn’t mention taper. It says ‘adjust monetary policy.’ Adjustment doesn’t imply a direction. I think what the Fed is getting ready to do is increase the amount of QE, not diminish it.”
Clearly Mr. Schiff is not as optimistic as the mainstream media when it comes to U.S. data improving anytime soon. In fact, he has been screaming to the world for years that the Fed’s stimulus will not create a lasting economic recovery, believing that the Keynesian approach to jump-start an economy by increasing debt and spending has never worked long-term in the history of the world.
Continue watching the interview to see why Peter believes QE will be increased, as well as Peter’s view of inflation and its effect on the markets.