After the official announcement of QE3, a number of hot-shot analysts and experts have come out with their opinions on how the policy will impact our future. The majority have warned about the coming fiscal cliff and how this may only make that worse, while others have been a bit more brash about their distaste for actions from Bernanke and the Fed. Two men in particular, Peter Schiff and Jim Rogers, have been very vocal about their hatred for this policy but they have also both touted commodities as the best way to play another massive injection of money into the economy [for more economic news and analysis subscribe to our free newsletter].
Let’s start with Schiff. Watching interviews and or reading some of his work, it is quite clear that this is a heated subject for him. In his eyes, the Fed should have let the economy fail back in 2008 and all of the QE programs have just been delaying the inevitable. He feels that Bernanke’s bold policy will actually inhibit growth and job creation. He has also stated that the Fed will never be able to produce a vibrant economy through money printing, as QE is simply a drop in a much larger bucket of issues. With his prediction of the dollar index dipping to 40 or even 20, Schiff feels that real assets like silver and gold are the best place for investors to be in the coming months.
Jim Rogers is another who has publicly ripped the Fed for their actions in recent years. He feels that Bernanke and company do not know what they are doing and that printing more money will never solve our problems. “Maybe sometimes in the short term printing money has alleviated the situation, but anybody who has studied history or economics knows that printing money in the longer term doesn’t work” says Rogers. Rogers has long been warning of a deep recession in the next few years, putting him right in line with Schiff, as both feel that we are heading for a financial crisis [see also Protect Yourself From Debased Currencies, Jim Rogers Style].
Mr. Rogers has also gone on to take a few jabs at the current presidential candidates, calling the outcome of the election irrelevant. According to the legendary commodity investor, neither candidate properly understands the deep-seeded issues of our economy and neither will be able to fix it. Working off of his predictions, Rogers has touted investments like agriculture and precious metals, although he has been very clear about stating that he feels silver is a much better investment than gold for the time being.
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Disclosure: No positions at time of writing.
“Anyone who has studied History and Economics knows that printing money is not going to work”.
Let’s think about that for a second. Dr. Bernanke has a Ph.D. in Economics from MIT and his dissertation was on the history of the Great Depression. Jim Rogers, who George Soros help make a rich man, has a young wife, a motorcycle and a bow tie.
[...] and forth. Some are excited to see stock markets have such positive reactions, while others are ripping the Fed for what they feel will be our undoing. Either way you spin it, QE3 is here and it may be staying [...]
I strongly agree with Maxver’s view.
One difference between Rogers and Soros, evil. Guess which one that is? They both are heavily invested in gold. One tells you to invest in it, the other says it’s a bad investment. One is looking out for us and the other wants to see us die.
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[...] employment data had a number of people in an uproar. After Mitt Romney scored a victory in the first Presidential debate, many thought that our sudden [...]
[...] employment data had a number of people in an uproar. After Mitt Romney scored a victory in the first Presidential debate, many thought that our sudden [...]
[...] Silver Gold Bull: An analysis-driven blog for both gold and silver. [...]
[...] Silver Gold Bull: An analysis-driven blog for both gold and silver. [...]
[...] If that statistic gave you cause for concern, the pre-1980 method for measuring price increases may make your stomach turn. You can read more about how this index was built here, but its old-school method of computing certainly yields a different result. This index finds inflation to be sitting around 8% as the delta between standard CPI and SGS only grow as the years go on [see also Jim Rogers, Peter Schiff Rip Bernanke and The Fed]. [...]
[...] That totals out to about 7.8 billion bills being printed. To give you a better context, if you were able to stack all of 2013′s new currency (assuming a thickness of .0043 inches), you would have a pile nearing 530 miles; that’s the distance between Chicago and Memphis. And just for fun, if you were to line those 7.8 billion notes end to end (assuming an average length of 6.14 inches), you would have a line stretching for more than 750,000 miles; that’s enough to run 30 laps around the earth with some change on the end [see also Jim Rogers, Peter Schiff Rip Bernanke and The Fed]. [...]
[...] talking a lot about the debasement of our dollar and the inevitable fiscal cliff while also taking calculated jabs at QE3. But he has now taken it a step further, claiming us to already be in another recession [for more [...]
[...] This article was originally written by Jared Cummans, and posted on CommodityHQ. [...]
[...] and forth. Some are excited to see stock markets have such positive reactions, while others are ripping the Fed for what they feel will be our undoing. Either way you spin it, QE3 is here and it may be staying [...]