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Janet Yellen Exposed by Peter Schiff

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Peter Schiff exposes the PR job done by the presstitutes on Janet Yellon.

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Peter Schiff: This Is Going To End Badly Much Worse Than 2008

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Peter Schiff counters the MSM cheerleading for Bernanke and irresponsible money printing. The end is on the horizon and will be much worse than 2008.

Peter Schiff: Its Going To Hit The Fan In Obamas 2nd Term

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Peter Schiff’s interview with Varney on Fox.

  • Gold is consolidating in preparation for another big move up.
  • People are getting complacent and think things are getting better, but that’s only because governments are printing money. People will soon start to see the inflation.
  • Japan will start to see high rises in inflation.
  • Inflation is the new monetary policy for CBs.
  • Markets are currently blindsided and won’t see inflation until it gets much worse.
  • CPI numbers are phoney and designed to hide inflation.
  • Bond bubble will eventually burst and that money will chase real goods.
  • Would be shocked if there wasn’t an explosive move up in gold in next 2-3 years.
  • It will hit the fan in Obamas 2nd term  – Currency crisis & Sovereign debt crisis.

Peter Schiff: US Inflation Figures Are Deliberately Misleading

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Peter Schiff explains how misleading the US inflation figures are, as it’s in the Governments interests to downplay the true figures.

Some of the main points covered:

  • Keynesian economists reference the Government CPI figures to justify QE but the true figures show high inflation.
  • Money printing is Inflation and results in rising prices.
  • Government methodology is designed to hide the effects of inflation.
  • Before the election a Fox poll showed people are most concerned with inflation (i.e. people don’t believe CPI figures)
  • Government CPI figures from 1970-1980 while compared to a basket of goods was accurate but was way lower from 2002 to 2012.
  • Government figures are wrong. An example of this is the CPI reports a rise of 37% in magazines and newspapers from 1999 to 2012 but when you look at the cover prices over that period, the average increase is 131%.
  • Government figures show healthcare costs only rose 4% from 2008 to 2012. That alone tells you the CPI is misleading. A Kaiser survey showed that premiums increased by over 24% in that period (5.5 times faster than the Government’s figures)
  • Healthcare costs only have a 1% weighting in the CPI figures despite the fact for medium families income it is almost 33% of their expenditure.
  • It’s the Governments vested interest to fool the world into believing there is no inflation. After all if they admitted true inflation then they couldn’t continue stimulating the economy and would be forced to deal with the deficit.
  • The clowns in Washington say the current inflation figures are too high and want to change the way its reported.
  • The true rate of inflation would be similar to the 1970s somewhere between 7-10%.
  • Foreigners are absorbing the excess dollars and buying US Treasuries causing a bond bubble (exporting inflation). Eventually they are going to want spend their dollars and goods will be going out and money coming in causing huge inflation.

Financial Collapse 2013

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Many economists and analysts have been warning of a Global Financial collapse is just up ahead. As 2012 draws to a close a number of those well known names have risked their reputations and predicted what lies ahead in 2013. I have pieced together some of those predictions.

[1]Jim Willie writes of a Gold Standard as a solution to the crisis nations find themselves in as the system collapses. 

The arrival of the Gold Standard as the solution is being slowly manifested in the form of a gold-core trade settlement system, which will drive a global Gold Standard. The new system will dictate bank reserves practices, and render the USTBond as a rejected toxic paper relic. It should arrive early in 2013. In the process, the Western nations will become impoverished, as they desperately cling to the failed system. Anger will rise. Disorder will prevail. The USDollars inside the United States will be trapped, then devalued as the public watches in shock. The power will shift East inevitably, with the shipment of Gold. A new era will begin.

BusinessInsider wrote of [2]Geralde Celente’s (23 Dec 2012) view ahead.

Gerald Celente, the popular trends forecaster of Trends Research, cites the work of a former Treasury official and warns that the bonds are in a massive bubble that will burst in 2013 in what will be a financial collapse like nothing we’ve seen before.

He recently spoke about it in an interview with King World News:

“This piece is being penned by Dr. Paul Craig Roberts, the former Assistant Treasury Secretary under Ronald Reagan.  And he is convinced that the bond bubble is about to burst.  This cannot continue to go on the way it is.  Everyone knows that the whole game is rigged, and so is this….

The whole game is rigged.  It’s ready to go down, and Dr. Paul Craig Roberts believes it’s ‘Bonds Away’ in 2013 as the bond bubble explodes and brings about a financial disaster even worse than the Great Depression.

Because the whole world is being propped up by these phony bonds and it’s going to collapse.  It has to happen.  Interest rates are going to start going up, and when they do the bond bubble explodes.  You cannot keep interest rates at zero for this amount of time and expect anything other than disaster to follow.”

[3]Jim Rogers expects based on the US having a recession every 4 years and the existing debt is so high that 2013 is going to be a disaster and for everybody to be very worried. For interview on MoneyNews click here.

be very worried about 2013 be very worried about 2014, because that’s when the next slowdown comes. In 2002 we had a recession in 2008, it was worse because the debt was so much higher, it is going to be even worse because the debt is so staggeringly high now. So if you are not worried about 2013, please get worried

Max Keiser on an interview (Aug 2012) on the Alex Jones show gave a timeframe of April 2013 at the latest.

April 2013 at the very latest when those tax receipts in the US will be spectacularly short.

. Goto 32 min

[4] Marc Faber sees 100% chance of Global Recession.

Dr. Marc Faber the Swiss fund manager and Gloom Boom & Doom editor is still expecting a global recession in 2013 when the economies of the world could take a hit from negative developments.

Speaking to CNBC‘s Closing Bell on Thursday, Faber still sees a 100% chance the world heads into recession, echoing a call he made in May, as he simply can’t see where growth will come from.

“If you look at the world, essentially Europe, the US, China and emerging economies that depend heavily on China, Europe is already in recession, the German economy is still growing slightly but likely to go into recession, the other economies are already in recession. The US has decelerated and I don’t see much growth in the next 6-12 months,” he said.

…….

When taken in concert, all the economies of the world could take a hit from these negative developments, he reckons. “I think we could have a global recession either in Q4 or early 2013.” When asked what were the odds, Faber replied, “100%.”

Is there anything the Fed or the Treasury can do, i.e. more quantitative easing?

“If you look at the injections of liquidity and the interventions by the Fed and also by the Treasury with fiscal measures over the last 15 years, [the measures] have actually already impoverished the U.S. economy,” he said.

John Williams (shadowstats.com) sees hyperinflation by 2013/2014

the economy is not going to recover. They are going to have to buy increasingly more and more as it does so the treasuries actually add to the increase of the money supply and that adds to the inflation pressures from there. where i see the risk and  where i see the trigger here from moving into a hyperinflationary circumstance in the next year or two. By 2014 is the outside timing I put on it. Very simply is a panic decline in the dollar.

See 12:40 min

[5]Peter Schiff has been bullish on gold and has been proved right down through the years. Schiff has also be very vocal in criticising the state of the US economy and has predicted a US Treasury collapse in 2013.

Market-Crushing Treasury Collapse To Hit Around 2013 , Peter Schiff expects the coming crisis to blow the 2008-9 financial crisis out of the water.“The more you delay it,(The FED’s ultra-loose monetary policy ) the bigger it will be,” “so we need to raise interest rates during the recession to confront the inefficiencies.” Peter Schiff told Forbes in a phone interview – via Forbes

[6]Michael Kreiger in an article on ZeroHedge (Oct 2012) believes 2013 is when the US finally experiences similar problems to the EU as the fiat dollar ponzi system comes to a boiling point.

As Nixon’s Treasury Secretary John Connelly said when confronted by a group of European Finance Ministers: “it’s our currency, but your problem.”  At the time he was correct, as we were at the very beginning of the fiat dollar standard.  41 years later the system is in its final days and our currency is about to become our problem as well.

There were always going to be massive consequences to keeping this ponzi alive.  What is extremely unfortunate is the small number of U.S. citizens that actually understand specifically that the root of every problem we face right now is the fiat dollar monetary system, because it gives all the power in the country to the Federal Reserve and the TBTF banks that tell Banana Ben Bernanke what to do.  Since 2008, many of the consequences of the fraud called American Crony Capitalism Inc. have been clear, but it has yet to hit the boiling point.  I believe that the boiling point will be hit sometime within the next six months, and 2013 will see the streets of America  beginning to look a lot like the streets of Spain and Greece.

Nobody sums it up better than this interview of Nicole Foss (Automatic Earth) on interest.co.nz of what lies ahead.

Potential Collapse scenario 1

Potential Collapse scenario 2 (Jim Rickards)


Sources:

[1] SilverDoctors,

[2] BusinessInsider,

[3] Jim Rogers,

[4] Lewrockwell,

[5] peterschiffchannel.blogspot.ie,

[6] ZeroHedge

Europe is Warmup, US is Main Event.

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Peter Schiff CEO of Euro Pacific Capital, gave an interview on RT’s Capital Account. Below is the video clip but the main points are as follows:

  • We are in intensive care and zero interest rates prevent the cure.
  • We need higher interest rates, more savings, lower property prices, less government spending and to balance the books.
  • Europe is the warmup and America is the main event.
  • We are where the real sovereign debt crises is going to be and it will be enormous.
  • It was going to happen because of mistakes government made in the past, but it will be worse because of mistakes made in the present.
  • We haven’t had a free market for a long time and is getting less and less free.
  • The more government gets involved in the economy, the more they screw it up.
  • We are going to have an inflationary depression worse than the 1930s. Everything the government is likely to do will exacerbate it.
  • The more government stimulate, the worse it gets.
  • We are a lot sicker than we were in the 1930s. We know what the cure is but we can’t get the politicians to allow the economy to swallow it.
  • We are in a climate where real tyranny can flourish. Look at what happened in Weimar Republic, Germany. After hyper-inflation we got the Nazis.
  • We are going to have civil unrest and rioting.
  • Ultimately we will have price controls even though government currently are denying we have inflation, because prices will be so high.
  • Government may start to silence the voices of people. They can already classify anyone they want as a terrorist.
  • Young people are getting the message now. So there is hope.

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