Fireworks Fly As Peter Schiff Warns "An Economy That Lives By QE, Dies By QE"

Submitted by Tyler Durden on 10/28/2014 - 17:35
Ahead of tomorrow's decision by the FOMC, Peter Schiff ventured on to CNBC to discuss the economy, the fed, and gold... among other things. Schiff rightly fears that while the Fed may well stop QE3 tomorrow, QE4 will not be too long behind it as he notes, rather eloquently, that "an economy that lives by QE, will die by QE" as the Fed's total lack of willingness to allow stocks to fall (see Bullard 2 weeks ago) or a 'cleansing' recession leaves the nation's economy in far worse shape than it was before the Fed's intervention. Schiff calmly replies to the anchor's questions (as she proclaims "I am not on the side of the Fed but..."), gently explains his view on gold when challenged about his 'wrongness', but when a guest starts hounding him for being dangerous to CNBC viewers wealth... Schiff (rightly) loses it - must watch!

105 being monitored for Ebola in Pa.

from MCall:
Public health workers are monitoring 105 people in Pennsylvania for Ebola symptoms, the state Department of Health announced Monday.
That figure includes everyone in the state known to have arrived from three Ebola-ravaged West Africa countries in the last 21 days, according to new state monitoring rules.
The department did not immediately indicate how many of the travelers had potential exposure to the virus in Guinea, Liberia or Sierra Leone. Those with possible or likely exposure to Ebola could face mandatory travel restrictions or quarantine, state health officials said last week.
Read More @ MCall.com

Bombshell: Non-U.S. Citizen Ebola Patients May Soon Be Coming To The U.S. For Treatment

from Western Journalism:
Virginia Rep. Bob Goodlatte, who serves as the House Judiciary Committee Chairman, appeared on the Fox News Channel Monday evening to share a frightening new wrinkle in the ongoing Ebola threat looming in the United States. According to the Republican lawmaker, there is evidence that the Obama administration will soon be transporting Ebola patients from West Africa to American hospitals for treatment.
“Members of the media, my office, have received confidential communications saying those plans are being developed,” he told host Megyn Kelly. “That’s why I wrote to the administration last week, to Secretary [of State John] Kerry and to Secretary [of Homeland Security Jeh] Johnson asking them to confirm or deny it and produce documents related to that.”

Physical Silver Being Drained…

by Dave Kranzler, Investment Research Dynamics:
Thru today (Oct 28) the U.S. mint has sold 4,365,000 silver eagles.  This is by far the highest total for October on record, with 3 business days left in the month.   It remains to be seen if 2014′s yearly total will exceed last year’s  42,675,000.  But if November and December continue at the September/October 4 million-plus rate, 2014 will smash last year’s record.  Either way, the U.S. mint is selling more ounces of silver than all U.S. mines combined produce annually.
As most of you know the roughly 93% of the physical silver inventory – 1,062 tonnes has been removed this year from the Shanghai Futures Exchange – see this LINK.
Read More…

Does This Look Like A Housing Recovery To You?

by Michael Snyder, The Economic Collapse Blog:
We just learned that the homeownership rate in the United States has fallen to the lowest level in 19 years.  But of course this is not a new trend.  As you will see in this article, the homeownership rate in the United States has been in a continual decline for more than 7 years.  Obviously this is not a sign of a healthy economy.  Traditionally, homeownership has been one of the key indicators that you belong to the middle class.  When people define “the American Dream”, it is usually one of the first things mentioned.  So if the percentage of Americans that own a home has been steadily going down for 7 years in a row, what does that tell us about the health of the middle class in this country?
Read More…

Disorderly Reset Coming-Dollar Goes to Zero-Egon von Greyerz

from USA Watchdog:
Wealth preservation expert Egon von Greyerz is not bullish on the U.S. dollar.

Greyerz explains, “More and more countries are trying to go away from the dollar, and I think the days of the dollar are counted. I think the dollar is going to start falling rapidly in coming months and years. Of course, it already has fallen dramatically in the last few decades, but that will now accelerate. It will go down to its intrinsic value which is zero, which most currencies do over their lifetime. Of course, we have the movements in Russia and China with alternative currencies for commodities like oil, etc. There will be a very disorderly reset with currencies falling. They can’t all fall at the same time, but they will fall dramatically, and gold will, of course, reflect that. The stock markets are in a bubble, and they will also fall. I think the secular bull market we have seen is finished. Now, we are going to see a very long bear market. Of course, the biggest bubble of them all, where governments do all they can to keep the bubble going, is the bond market. We have more debt than ever and interest rates at zero. That just doesn’t add up.” Greyerz goes on to say, “You can’t have governments borrow more than ever and have interest rates at zero. You can only do that temporarily because you have governments printing money and artificially holding interest rates down. That will not last either. So, the reset will be dramatic. It won’t happen overnight, but there will be events that trigger short term pitfalls, but this is a long term thing.”
Read More @ USAWatchdog.com

Why Doesn’t a Cop Get Jail for Shooting Mentally Ill Man 14 Times?

from RINF:
A white Milwaukee cop has been fired, six months after shooting and killing a 31-year-old mentally ill black man, the Associated Press reports.
Dontre Hamilton, who suffered from schizophrenia, was sleeping in a city park last April when officer Christopher Manney approached him around 3:30 p.m. Milwaukee Police Chief Ed Flynn said Manny was responding to an earlier voice mail, not knowing that two police officers had twice checked on Hamilton that afternoon.
Read More @ RINF.com