The tweet was deleted by the author.
But we saved everything 🙂.
IRS decision to shut OCIF bank led to opposite effect for Puerto Rico, Peter Schiff notes
Peter Schiff, CEO and Chief Global Strategist of Euro Pacific Capital, reports that the IRS persuaded OCIF to close his bank as a publicity move for the J5, promising this would help Puerto Rico improve its standing as a serious banking regulator.
He contends that the outcome was the opposite, stating that by refusing capital injections or a sale, the situation was made worse.
Schiff has previously warned that rising inflation is weighing on both bonds and stocks, with expectations of increased U.S. budget deficits and future Fed rate cuts, according to a recent market outlook. He also observed a 30 percent decline in Bitcoin prices compared to last year's conference, describing digital credit as the latest speculative trend in another commentary. These remarks reflect his ongoing scrutiny of macroeconomic developments and emerging assets.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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