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Yellen Basically Admits The U.S. Is A Banana Republic – Ep.189

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Manage episode 171230375 series 52398
Content provided by Peter Schiff. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Peter Schiff or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
Earlier today Janet Yellen delivered her much-anticipated and way over-hyped speech at the annual Jackson Hole Symposium It wasn't as irrelevant as I thought it was going to be, but the actual relevant part of the speech was lost on just about everybody Instead they keep focusing on whether or not the Fed is going to raise rates by another .25 in September or December or maybe both In reality, whether they do or do not is irrelevant, given the nature of where we are and where the U.S. economy actually is For a small person, Janet Yellen certainly casts a large shadow over the financial markets Everybody was on pins and needles, all the traders were there with their fingers on the buttons waiting to react to anything that Yellen said I mentioned on an earlier podcast that there had already been a sell-off on gold stocks a couple of days ago on the anticipation of Yellen's hawkish comments The rest of the market seemed to ignore the possibility that Yellen would be a hawk Before I discuss what she said, I want to examine whether anyone on the committee could be considered a hawk A hawk is predatory; is to be feared, reflecting a tough central banker who believes in sound money On the other hand, a dove is cute and fluff; doesn't really hurt anybody A dove wants cheap money - keep interests low so as not to harm anybody - nothing to fear When it comes to hawks with respect to the Federal Reserve, the bird is extinct They are all doves and the only difference is the degree of dovishness The hawks are gone and are probably never coming back Yellen was not a hawk, and neither was Stan Fischer
  continue reading

342 episodes

Artwork
iconShare
 

Archived series ("HTTP Redirect" status)

Replaced by: The Peter Schiff Show Podcast

When? This feed was archived on October 26, 2017 20:37 (6+ y ago). Last successful fetch was on October 25, 2017 23:07 (6+ y ago)

Why? HTTP Redirect status. The feed permanently redirected to another series.

What now? If you were subscribed to this series when it was replaced, you will now be subscribed to the replacement series. This series will no longer be checked for updates. If you believe this to be in error, please check if the publisher's feed link below is valid and contact support to request the feed be restored or if you have any other concerns about this.

Manage episode 171230375 series 52398
Content provided by Peter Schiff. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Peter Schiff or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
Earlier today Janet Yellen delivered her much-anticipated and way over-hyped speech at the annual Jackson Hole Symposium It wasn't as irrelevant as I thought it was going to be, but the actual relevant part of the speech was lost on just about everybody Instead they keep focusing on whether or not the Fed is going to raise rates by another .25 in September or December or maybe both In reality, whether they do or do not is irrelevant, given the nature of where we are and where the U.S. economy actually is For a small person, Janet Yellen certainly casts a large shadow over the financial markets Everybody was on pins and needles, all the traders were there with their fingers on the buttons waiting to react to anything that Yellen said I mentioned on an earlier podcast that there had already been a sell-off on gold stocks a couple of days ago on the anticipation of Yellen's hawkish comments The rest of the market seemed to ignore the possibility that Yellen would be a hawk Before I discuss what she said, I want to examine whether anyone on the committee could be considered a hawk A hawk is predatory; is to be feared, reflecting a tough central banker who believes in sound money On the other hand, a dove is cute and fluff; doesn't really hurt anybody A dove wants cheap money - keep interests low so as not to harm anybody - nothing to fear When it comes to hawks with respect to the Federal Reserve, the bird is extinct They are all doves and the only difference is the degree of dovishness The hawks are gone and are probably never coming back Yellen was not a hawk, and neither was Stan Fischer
  continue reading

342 episodes

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