What Happened: Acclaimed economist Peter Schiff warned on Monday about the potential impact of a rise in bond yields, oil, and gold. He referred to this as a “trifecta of doom,” indicating an entrenched inflation and dwindling confidence in the Federal Reserve and the U.S.’s fiscal solvency.
“This trifecta of doom is a warning to investors of entrenched #inflation and a loss of confidence in the #Fed and fiscal solvency of the U.S.,” Schiff tweeted. He further cautioned that the dollar could be the next to fall and that the stock market might be the last to react.
On the same day, Schiff noted that Gold had shrugged off the day’s spike in bond yields to close nearly $3 higher. He noted that Gold mining stocks performed ...