GoldSeek Radio: Peter Schiff amd Bob Hoye
Peter Schiff & Bob Hoye
Interview Recap
Bob Hoye, Editor & Chief Investment Strategist of Charts and Markets.com rejoins the show with must-hear commentary. US shares are "precarious," overvalued relative to historical norms, contrary to the Oracle of Omaha, Warren Buffett. Our guest insists that a 2nd Great Recession, circa 2009 could unfold if policymakers continue with the current rate cycle. The market will front-run rates lower following the Fed Funds Futures contracts as soon as December / January. This scenario virtually guarantees a stock market reaction and economic contraction. The host finds this line of reasoning plausible, however, cautions listeners to maintain portfolio discipline. Empirical evidence proves that the expected returns of portfolio investment-strategies surpass that of market timing strategies. While Wall Street applauds the stock rally of 2019 as one of the most impressive, the host suggests a competing viewpoint. The magnitude and staying power of the rally at record highs represents a more accurate success measurement.Peter Schiff, head of SchiffGold, Euro Pacific Capital, and Euro Pacific Gold Fund (EPGFX)returns with key insights. Our guest notes the Wall Street adage, "Sell in May and Walk-away..." where investors look for bargains later in the year. Peter Schiff expects a bear market to overtake US equities. The trade skirmish between the US and trading partners, especially China is the root cause. Investors are advised to expect two quarters of back to back negative GDP growth resulting in an economic slowdown. Chris Waltzek compares the low Fed balance sheet of $500 million before the Great Recession with the current $4 trillion. Policymakers failed to seize the decade long economic boom to curtail excess monetary expansion. Given the inability for the Fed to liquidity, a new era of endless money printing seems imminent. The guest / host concur that only two options remain for the Fed: 1) Take the short-term pain to preserve global reserve currency hegemony by ringing the excess liquidity, $3.5 trillions off their balance sheet, inadvertently crushing the financial markets and the domestic economy while potentially sending the entire global economy into a new dark ages circa 1930's Great Depression;2) or continue on the current destructive path via renewed rate cut cycle as implied by the CME Fed Fund Futures contracts as soon as December 2019, essentially renewing QE operations further jeopardizing the global hegemony of the US dollar while sacrificing the general welfare of future generations.Please Listen Here
Dial-Up Real Audio
MP3
FAST Download
Highest Quality Download
Right click above & "Save Target As..." to download. To learn more about software needed to play the above formats, please visit the FAQ.
Guest Bios
Bob Hoye
Institutional Investors
With a degree in geophysics and a number of fascinating summers in mining exploration, one winter in "the bush" quickly led Bob into the financial markets. This included experience on the trading desk and in the research department of a large investment dealer, which led to institutional stock and bond sales.
Bob's review of financial history provided the forecasting models designed to anticipate significant trend reversals in the sometimes alarming volatility typical of the transition from rampant speculation in tangible assets to fabulous speculation in financial assets.
In anticipation of the latter opportunity, a monthly publication for financial institutions was started in January 1982.
This competently covered the stock market, the yield curve, credit spreads as well as metal and energy prices.
In 1998 the Institutional Advisors website was started as a forum for unique and reliable financial research.
Website: click here.
Peter Schiff
Schiff GoldPeter Schiff President & Chief Global StrategistPeter 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."
Schiff Gold: click here.