Peter Grandich: “Situation Is Beyond Fed’s Control” As Recession Unstoppable

Inflation today compared to the 1980s “is a completely different animal this time around, and the situation is so beyond what the Fed can do now,” says Peter Grandich, founder of Peter Grandich & Company.

The enthusiasm over this week’s Fed rate hike is misrepresented, he tells Stansberry Research’s Daniela Cambone, because Powell and the Fed, “will still be behind the curve, and need to be more aggressive.”

“Social and political disharmony is at the highest level since the onset of Civil War,” in the U.S., and “with the world suffering economic challenges, “it does not paint a good picture for the future,” he warns.

General stocks and bonds have had a phenomenal run, but have been overdone on the upside, Grandich states, “and the only market I can risk capital on for capital appreciation is the gold market.”

He concludes that the mining companies, “especially the majors, are in phenomenal shape,” with the juniors market still facing struggles.

Watch the full interview here….