Gold Bug Schiff Thinks Fed Will Increase QE Instead Of Tapering

The Federal Reserve has no intention to pull back on its monthly bond buying and instead is more likely to increase it due to economic weakness, investment pro and gold advocate Peter Schiff said.

Fed Chairman Ben Bernanke is trapped in a “monetary roach motel” that will force the central bank to continue quantitative easing, in turn leading to a major economic crisis, Schiff added.

“The recovery that the Federal Reserve is bragging about helping create is 100 percent dependent on the quantitative easing that it is supplying,” the CEO of Euro Pacific Capital said Monday during IndexUniverse’s Inside Commodities Conference. “Like every drug, the economy’s going to need more of it to sustain the phony economy. … Far from diminishing QE, the next big move is going to expand it.”


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Mingze Wu

Mingze Wu

Currency Analyst at Market Pulse
Based in Singapore, Mingze Wu focuses on trading strategies and technical and fundamental analysis of major currency pairs. He has extensive trading experience across different asset classes and is well-versed in global market fundamentals. In addition to contributing articles to MarketPulseFX, Mingze centers on forex and macro-economic trends impacting the Asia Pacific region.
Mingze Wu