Monday, March 30, 2015

Fed bluff on rate hikes

The Fed has been bluffing the entire time [on rate hikes]. It has no intention of raising rates, but it can’t come clean and admit that, so it has to pretend that it is going to do something it’s not going to do, so it does not reveal the fragility of the US economy.

Eventually Fed policymakers will increase rates but they will do so not because they want to, but because they have to, because the markets will give them no choice, because I think we will have a currency crisis. . . . It’s going to make 2008 look like a Sunday school picnic.

Peter Schiff is a smart investor and author of several best selling books. He correctly predicted the economic meltdown of 2008 - 2009