Inflation Insanity Continues – Ep 848
The Peter Schiff Show Podcast
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Inflation Is Going Up, Not Down
Inflation is going up, not down. Gold is an inflation hedge. You buy gold when there's inflation. Well we got more inflation than the markets expected yet everybody dumped gold. Why? Higher inflation is bad for the dollar by definition. It means the dollar is losing value. So since they believe that the Fed has to fight harder, they want to buy the dollar and sell gold because fighting harder means even higher interest rates. After we got the release of this hotter than expected CPI, the odds of a 75 basis point rate hike in November are 100%. That means the markets expect the Fed funds rate to be at 4% in November. We're still about one and a half percent
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