Peter Schiff, founder of EuroPac and Schiff Gold comments on key financial market headlines, including increasing risk of stag-flation, Fed officials have painted themselves into the monetary corner, unable to stave off inflation through rate hikes, as the need for further QE rapidly increases. The scenario bodes well for extraordinary gains in the gold mining sector.
Meanwhile, the cost-of-living continues to soar, approaching 20% when adjusted for '82 dollars (Shadowstats.com, John Williams), with wages lagging inflation, increasing merely 5%, rapidly eroding purchasing power for all but the 1%. Policymakers appear to be blissfully unaware of the bleak reality faced by typical Americans combating ever higher gasoline prices at the pump is intense, including "let them drive electric cars"
The discussion swerves to the hostile takeover bid by Elon Musk for Twitter and related carnage in the high-tech sector, including Netflix as well as strategic enhancements for investment portfolios.