Gary Dorsch, publisher of Global Money Trends Newsletter, notes how officials around the globe continue to debase their money to bolster ailing economies.
The race to the bottom may have dire consequences, worldwide.
Not only are some company shares collapsing, but their bonds, too.
Our guest notes that the economy is producing on average 200,000 jobs per month, home prices have recovered while corporate conditions have improved markedly, so it's inappropriate to hold rates near zero.
Expect the Fed to follow the advice of the BIS and end the 6.5 year holding pattern with a rate hike next month.
The ECB and BOJ will continue quantitative easing by a combined $1.5 trillion.
Yields on low quality bonds continue to soar, pushing prices to record lows.
Our guest expects gold to find a bottom around $1,000 per ounce. Proviso: if the Fed holds rates steady, the bottom may already be in place.
Peter Schiff, Chairman of SchiffGold.com and the host discuss the expected Fed rate hikes, scheduled for as soon as next month.
Our guest thinks the benchmark rate will remain set near zero, providing the rocket fuel to propel the precious metals into orbit.
The domestic economic is in far worse shape than indicated by the official data so a rate hike could crush the economy.
Fed officials will avoid rate hikes igniting a new wave of quantitative easing, QE4.
Signs of underlying economic weakness abound, such as the lowest home ownership rate in 50 years.
The guest / host concur that the Monetarist panacea involves holding rates steady and not raising them to ward off the looming financial crisis.
Peter Schiff calms investors concerns regarding the bear market, noting that another 20 year downtrend is unlikely.
Worked on the trading floor of the Chicago Mercantile Exchange for nine years as the chief Financial Futures Analyst for three clearing firms, Oppenheimer Rouse Futures Inc, GH Miller and Company, and a commodity fund at the LNS Financial Group, members of the CME and CBOT.
Gathered news and information from trading pits and newswire sources on the Chicago Mercantile Exchange, and telexed daily and weekly analysis of foreign exchange, global interest rates, gold and other commodities to clients in Hong Kong, London, the Middle East, and dozens of commodity trading advisers across the United States. After the closing bell, Mr Dorsch broadcast-ed a half-hour talk show on the financial markets to 40 customer branch offices around the United States via live hook-up from the trading pits of the Chicago Merc.
From 1981 through 1988, Mr Dorsch was widely quoted in more than 400 newspaper articles, including the Wall Street Journal, the New York Times, Investor's Business Daily, the Chicago Tribune, Barrons', Newsweek, and the American Banker magazine. He was interviewed on dozens of occasions on the Financial News Network with Sue Herrera, discussing trends in foreign currencies and interest rates, and spoke on local Chicago radio stations. He was also tape-interviewed for CNN's MoneyLine with Lou Dobbs on several occasions, discussing foreign currencies and S&P 500 stock index futures. (click on hyper-links to articles, located below).
Worked on the domestic and foreign equities trading desk for Charles Schwab and Company, the largest discount broker in the United States, for eleven years. Gained extensive knowledge in computerized trading systems, and serviced a wide array of retail and institutional customers in the US and overseas. As a transactional broker for Charles Schwab's Global Investment Services department, he handled thousands of customer trades in 45 stock exchanges around the world, including Australia, Canada, Japan, Hong Kong, the Euro zone, London, Toronto, Mexico, and New Zealand.
Wrote a weekly newsletter called, "Foreign Currency Trends" for Charles Schwab's Global Investment department, featuring "Inter-market" technical analysis, to understand the dynamic inter-relationships between the foreign exchange, global bond and stock markets, and commodities. Particular attention is paid to central bank jawboning and intervention, designed to influence trader psychology. Mr Dorsch has a collection of thousands of charts, displaying the chronological history and inter-relationships of the global money markets from 2000 until the present time.
Mr. Dorsch has been an active trader in foreign exchange, US high grade and corporate junk bonds, financial futures contracts, gold stocks, ADR's, and a wide range of US equities and options over the past 28 years. He holds a Bachelor of Science degree in Finance from Arizona State University, as a Sun-Devil from Tempe, Arizona.
Peter Schiff President & Chief Global Strategist Peter is one of the few investment advisors to have correctly called the current bear market before it began and to have positioned his clients accordingly. As a result of his accurate forecasts of the mortgage meltdown, credit crunch, and decoupling of commodities, precious metals, and foreign markets from the U.S. Dollar, he has become a sought-after economic commentator on a range of investment topics. Peter delivers lectures at major economic and investment conferences, and is quoted often in the print media, including the Wall Street Journal, New York Times, L.A. Times, Barron’s, BusinessWeek, Time and Fortune. His broadcast credits include regular guest appearances on CNBC, Fox Business, CNN, MSNBC, and Fox News Channel, as well as hosting a weekly radio show. As an author, he has written four best-selling books, including his latest: " Crash Proof 2.0: How to Profit from the Economic Collapse" and "How an Economy Grows and Why It Crashes."
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