Simon Hunt and Peter Schiff Wednesday 6-9-2021
Simon Hunt: China's Gold and Digital Currency Reset
Palisades Gold Radio: Jun 9, 2021
Tom welcomes a new guest Simon Hunt to discuss the global economy
Inflation will burn off a lot of the fiscal and monetary stimulus. Personal income has declined when factored for inflation. We are experiencing stagflation.
He believes that by 2024 we will be in a crisis since debt is growing faster than GDP. Western Central banks are deliberately blowing up the system so they can introduce a different structure.
It probably will involve digital currencies and a world system based on equity, not debt.
China and Russia are in the lead, preparing themselves by reducing dollars and a far further along in introducing digital currencies.
China holds vast quantities of gold, which will become part of China's future monetary system. Simon believes that China has no interest in being a reserve currency; instead, they want a multi-polar system.
China's focus is no longer on growth but on preparing for difficult times. They are now pursuing orthodox monetary policies.
He expects a bounce in the dollar but an eventual halving of the dollar index. Fewer and fewer want to hold dollars due to the enormous fiscal and monetary stimulus programs.
We will move into a new commodity supercycle around 2027, and the financial community is not taking note of the short-term cycles. The real commodity supercycle won't begin until after a major crash.
Peter Schiff : Americans Are Worried About Inflation
The Survival Economist: June 8, 2021
If you’ve been to the grocery store, or the gas station, or the building supply store, you know we have an inflation problem.
Last month’s hotter than expected CPI confirmed what we already intuitively know. But the folks over at the Federal Reserve continue to tell us there’s nothing to worry about. They insist inflation is transitory. Their reassurances notwithstanding, people are worried.
Searches for the word “inflation” hit an all-time high on Google trends in May.
In this clip from a recent podcast, Peter Schiff talked about the growing public worry about inflation and why the Fed’s response is bogus.