It’s Here! I’m Predicting the Biggest Crash of 2023 - Peter Schiff Last Warning

It’s Here! I’m Predicting the Biggest Crash of 2023 - Peter Schiff Last Warning Join this channel to get access to perks: Peter Schiff is a notable financial expert who anticipates an impending economic crisis, whether the Fed persists in fighting inflation or shifts its policies to avert a meltdown. The Fed held interest rates steady last week but stiffened a hawkish monetary policy stance. Since March 2022, it has hiked its policy rate by 525 basis points to the current %% range. Financial markets currently expect the central bank will keep rates unchanged at its October 31-November 1 policy meeting, according to CME Group’s Fed Watch tool. Peter Schiff believes that rising bond yields, driven by mounting debt and inflationary concerns, are a significant economic factor. The US 10-year Treasury yield is now making moves towards 4.7%. The 20-year just hit 5%. Meanwhile Peter shows concern about the adverse effects of soaring mortgage rates, potentially exacerbating issues in the housing market. Mortgage rates began September above 7% before reaching % by the end of the month the highest rate since 2000, according to Freddie Mac. Regarding the dollar, Peter notes its recent strength, with the dollar index hitting a peak of , but he suggests that it might be losing momentum. The dollar has gained on expectations that the US economy will remain more resilient to higher interest rates and oil prices than other economies, after the Federal Reserve last week warned it may hike rates further and is likely to hold them higher for longer. Peter Schiff main concern is the gold price decline amid rising rates and inflation, attributing it to market misunderstanding. Gold futures for October delivery on the Comex exchange dropped per troy ounce, or 0.7%, on Thursday to 1, dollars. That marked a six-month low. Gold also slipped 9.2% below a 52-week high of 2,048 dollars hit on May 4, according to Dow Jones Data. During the interview, Peter Schiff pointed out the banking sector is in worse shape now than during the 2008 financial crisis. US banks continued to sell securities at a loss during the second quarter, though the pace of sales slowed significantly. JPMorgan Chase & Co. again recorded the largest realized loss at 900.0 million dollars after selling US Treasury and mortgage-backed securities during the quarter. Share this video with a friend if you found it useful! Consider subscribing to the channel for videos about investing, business, stock market, managing money, building wealth, passive income, and other finance-related content! -------------------------------------------------- 🎥 We own commercial licenses for all the content used in this video except parts about the topic that have been used under fair use and it was fully edited by us. For any concerns, business inquiries, etc. please contact us via email in the “About” section of the channel. Some links above are affiliate links. Anything displayed on this channel should not be seen as financial advice. Each person has a unique experience, and there is no guarantee of future profitability or success. #economy #stocks #gold #silver #investment #financialanalysis #stockmarket #peterschiff