Peter Schiff just appeared on CNBC’s Closing Bell to argue that the Fed’s quantitative easing is preventing the US economy from recovering in a fundamental way. If you don’t want to fall victim to a greater economic crisis than 2008, consider diversifying out of the US stock market with hard assets like physical gold and silver.
“If the Fed begins to taper… we’ll be back in recession. It’s not going to be good for stocks. The whole rally is based on QE… But the more the Fed succeeds in pushing up the market now with QE, the further it’s going to fall once the QE stops. Because it has to end eventually, otherwise the dollar is going to collapse and it’s not going to matter what your stock portfolio is worth because you’re not going to be able to buy anything.”
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