Stansberry Research, Released on 4/14/23

“On one hand, the Fed should stop raising rates…that doesn’t mean they have to end their inflation fight,” says Peter Boockvar, chief investment officer of Bleakley Financial Group. “Why not just take a timeout, take a step back, and see how the credit squeeze potentially plays out from here,” he continues, adding that there has been a notable decline further in bank deposits and that the Fed is “playing with fire” because more deposits will lead to higher interest rates. Peter also discusses the U.S. dollar’s status as the world’s reserve currency. He claims that, “We’ve seen diversification ever since the euro was created and it’s been a slow-moving train doing down the tracks where slowly, there’s more diversification. It’s been happening where I think global reserves of [the] dollar is down about 60%, but that’s going to continue.” However, he says the de-dollarization trend may take many years or a decade before it plays out and “the dollar is not going to lose its reserve status, but maybe it’s just less influential when it comes to its dominance in global transactions.”

00:00 IMF’s global economic outlook
3:07 What would the U.S. be more at risk?
4:15 The Fed must stop raising rates
6:55 QE and easy money
7:30 The Fed raises rates again
9:18 Markets ripping
10:59 Gold price
13:57 De-dollarization
16:53 Petrodollar
17:50 Gold purchases hit record high of gold purchase
19:40 Peter’s thoughts on bitcoin
21:10 Advice for investors

Peter Boockvar is the Chief Investment Officer of Bleakley Financial Group and Editor of The Boock Report newsletter https://boockreport.com/.

  economy, federal reserve, interest rates, peter boockvar, recession