Tuesday, December 31, 2013

Fed support needed for low interest rates

Without the support of the Federal Reserve, long term interest rates are headed a lot higher and our economy is too broke to afford it. The highest rate we can really afford is zero at this point and the markets haven`t figured this out yet.

Monday, December 30, 2013

Friday, December 27, 2013

Peter Schiff: Gold vs Bitcoin video





While I have a lot of sympathy with what the bitcoin community is trying to acheieve, I just think they have the wrong vehicle [ Watch the video for full text ]

Thursday, December 26, 2013

Possibility of higher interest rates

The Chinese made a blockbuster statement that was summarily ignored. Last week, a deputy governor of the People's Bank of China said that buying foreign exchange reserves was now no longer in China's national interest. The implication that China may no longer be accumulating U.S. government debt would amount to the "mother of all tapers" and could create a clear and present danger to the American economy. 

But the story barely rated a mention in the American media.  Over the past decade or so, the People's Bank of China has been one of the largest buyers of U.S. Treasuries (after various U.S. government entities that are essentially nationalizing U.S. debt). China currently sits on $1 trillion or more in U.S. bond obligations.

So, just as many expect that the #1 buyer of Treasuries (the Fed) will soon begin paring back its purchases, the top foreign holder may cease buying, thereby opening a second front in the taper campaign. This should cause any level-headed observer to conclude that the market for such bonds will fall dramatically, causing severe upward pressure on interest rates. 

Tuesday, December 24, 2013

Schiff on Walmart workers and fair wage



Would you contribute 15% of your total price for the Wal-Mart workers?


Monday, December 23, 2013

Difficult to end QE

There can be little doubt that the Fed announcement is an epic attempt at rhetorical audacity. The message they hope to convey is that they are tightening monetary policy by loosening it. Based on the early market reactions, the trick has seemed to work.

In my opinion the seemingly positive economic signs of the past few months are simply the statistical signature of the QE itself. There is little evidence to suggest that the trends are self-sustainable. But seemingly strong data had made the arguments in favor of continued QE increasingly untenable. As they could no longer stay the course the Fed had to do something. Ultimately they decided to play it both ways.

As far as the headline grabbing taper decision, the Fed's hands were essentially tied by widely held expectations. Perhaps spurred by a desire to initiate the end of QE before he leaves the chairmanship, Ben Bernanke did surprise some by announcing the taper now instead of allowing Janet Yellen to do so in March. The $10 billion reduction has convinced many that the QE program will soon become a thing of the past. At his press conference Bernanke affirmed that he expects QE to be fully wound down by the end of 2014. Look for those forecasts to change rapidly.

Without QE to support the markets, in my opinion, the economy will likely slow significantly and the stock and real estate markets will most likely turn sharply downward. As a result, I expect the Fed will do its utmost to keep the markets convinced that the QE program is in its final chapters.

I suspect that when the economic data begins to disappoint, the Fed will quickly reverse course and increase the size of its monthly purchases. In fact, today's Fed statement was careful to avoid any commitments to additional tapering in the future. It merely said that further changes in the amount of purchases will be dependent on the data. This means that QE could go in either direction.


http://finance.yahoo.com/blogs/breakout/peter-schiff--despite-taper--fed-bond-buying-isn-t-going-anywhere-195423236.html

Friday, December 20, 2013

Maybe bitcoin will be Money in the Future

I don`t know with any degree of certainty what gold is going to be worth next year. I can`t know that, but I do believe it will be valuable. I don`t believe it will be worthless. 

But with Bitcoin, the unknowns are so great, that it can`t be money right now, you can only view it as a speculative asset. Maybe it will be money in the future. 

Right now it is a highly speculative asset.


Thursday, December 19, 2013

Harry Dent talks to Peter Schiff on inflation and Deflation

The FED wants inflation and will print money like crazy to fight the deflationary pressure put forth by the sluggish economy. We are going to see a very bad deflation soon followed by a mega print by the fed to stop the deflation and losing control and spin off to hyper-inflationary scenario. May happen within this decade.

Peter Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies.

Tuesday, December 17, 2013

Join Peter Schiff in Las Vegas for Passport to Freedom Jan 2013

Peter Schiff will be in Las Vegas, January 23rd thru 26th. You may join and learn ways that may help your weather the economic storm, protect your savings and wealth, and become a 'Nomad Capitalist.'

Peter Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Sunday, December 15, 2013

Fed will not taper this year




Brian Belski talks about the market rally and expects S&P500 to close at 1900.

Also Peter Schiff thinks the Fed will not taper this year, more QE to come and that investors will go into emerging markets.

The Bernanke QE & Multiple Stage Rocket Analogy

 In an interview this week, outgoing Fed Chairman Ben Bernanke likened the QE program to the first stage in a multiple stage rocket that gets the spacecraft off the ground and accelerates it to the point where it is close to achieving permanent orbit. Like a first stage that has spent its fuel and has become dead weight, Bernanke seems to concede that QE is no longer capable of providing positive thrust, and as a result can now be jettisoned (like a first stage) so that the remainder of the spacecraft/economy can now move higher and faster. The Chairman’s nifty metaphor provides some inspiring visuals, but is completely flawed in just about every way imaginable.

In real rocketry, when the first stage separates, it falls back to earth and is no longer a burden to the remainder of the ship. Subsequent booster rockets (which in economic terms Bernanke imagines would be continuation of zero interest rate policies) build on the gains made by the first stage. But the almost $4 trillion in assets that the Fed has accumulated as a result of the QE program will not simply vaporize into the stratosphere like a discarded rocket engine. In fact it will remain tethered to the rest of the economy with chains of solid lead.

In the process of accumulating the world’s largest cache of Treasuries, the Fed has become the most important player in that market. I believe the Fed can’t stop accumulating and dispose of its inventory without creating major market disruptions that will drag the economy down. - in Value Walk


Peter Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Saturday, December 14, 2013

China Announced The Mother Of All Tapering

Here is the biggest bombshell of the week, maybe of the year. Everybody was focusing their attention on what the Federal Reserve did not even say, they were pretending that the Fed said they were going to taper, even though they did not. So while everyone was focusing on stuff the Federal Reserve did not say, nobody paid attention to what China actually did say.

Because China announced the mother of all tapering. China finally came out and admitted that a further expansion of their foreign currency reserves is no longer in China`s interest. Now, expanding their foreign reserve currency reserves has not been in China`s interest for a long time, it is just that now they finally came out and publicly admitted it. Now, what does it mean?


If China isn`t going to expand its balance sheet anymore because its not in their interest, it means it has to stop buying Treasuries. It has to stop buying mortgage backed securities, the same securities the Federal Reserve is buying and is threatening to taper off.

Friday, December 13, 2013

Peter Schiff : Bitcoins A Modern Day Tulip Mania


To me it looks like a modern day tulip mania, the fact that there are people in the hard money community that have embraced bitcoin.

A bubble is a bubble. The dotcom or the real estate bubble, there is a bubble in bitcoin. I think the reason people are buying bitcoins is because the think they are going to make money. They think the price is going to go up. It will keep going up until it implodes. And a lot of people are going to lose a lot of money in bitcoins. A small amount of people will make a lot of money but it will be paid for by a much greater amount of people who lose because they come at the end of the pyramid scheme. Whether we are at the end now, or whether it is going to keep going higher for months or years, I do not know.

Peter Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Thursday, December 12, 2013

Peter Schiff Bitcoins : People Will Lose A Lot Of Money

I do not think it is going to end up being a source of commerce for the world. I think right now it is a source of gambling and I think people will lose a lot of money. But again, I don`t know where the top is. I never know where the top is but I think I got a pretty good vision when it comes to seeing bubbles and I certainly see one in bitcoins.

Peter Schiff  is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Wednesday, December 11, 2013

Gold Is Used In Industry As Well

Gold Is Used In Industry As Well Gold is used in industry as well, just not as much as silver. Gold is used in a number of cellphones, albeit a tiny amount, as well as dentistry and also gold is used as jewelry. While jewelry is not money, people still adorn themselves with gold, and they will continue to do that even if gold is $5,000 an ounce.

Peter Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

If The Fed Stops, We Will Have A Complete Collapse

The Federal Reserve is not going to back off. The market is going to push it off. The Federal Reserve is going to do this until it cannot do it anymore. Because if it stops then we have a complete financial collapse.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Tuesday, December 10, 2013

Bitcoins: Don`t Have Any Value Absent Being A Medium Of Exchange

The main problem when you try to look at bitcoins versus gold, because people are saying, well, its just a new version of gold. For hundreds of years, maybe more, before gold was used as money it was already used, it was an acceptable highly coveted, valued commodity that people wanted. It eventually became used as money because it was a more manageable commodity than other commodities that were used as money in addition to gold. So gold just was the commodity that was best suited to also be money but it was first and foremost a commodity, a luxury good that was in demand all around the world.

The thing with bitcoin is nobody wanted bitcoin until it was invented for commerce. The sole purpose of bitcoin is to be used as money. But it does not have any value absent being a medium of exchange.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Monday, December 9, 2013

Bitcoin: Money Or Speculative Asset?

I don`t know with any degree of certainty what gold is going to be worth next year. I can`t know that, but I do believe it will be valuable. I don`t believe it will be worthless. But with Bitcoin, the unknowns are so great, that it can`t be money right now, you can only view it as a speculative asset. Maybe it will be money in the future. Right now it is a highly speculative asset.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Sunday, December 8, 2013

Digital Currencies Backed By Gold?

I am already starting to hear about digital currencies that would be backed by gold, which would make them a more legitimate currency, more of a replica of the original paper currencies that were backed by gold.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Wednesday, December 4, 2013

China Announced The Mother Of All Tapering

Here is the biggest bombshell of the week, maybe of the year. Everybody was focusing their attention on what the Federal Reserve did not even say, they were pretending that the Fed said they were going to taper, even though they did not. So while everyone was focusing on stuff the Federal Reserve did not say, nobody paid attention to what China actually did say.

Because China announced the mother of all tapering. China finally came out and admitted that a further expansion of their foreign currency reserves is no longer in China`s interest. Now, expanding their foreign reserve currency reserves has not been in China`s interest for a long time, it is just that now they finally came out and publicly admitted it. Now, what does it mean?

If China isn`t going to expand its balance sheet anymore because its not in their interest, it means it has to stop buying Treasuries. It has to stop buying mortgage backed securities, the same securities the Federal Reserve is buying and is threatening to taper off.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Tuesday, December 3, 2013

The Only Reason Anybody Wants Bitcoins

The only reason that anybody wants Bitcoins is because they believe somebody else wants them.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Monday, December 2, 2013

The Original Currencies

The original currencies were issued by private banks, in fact if you go back to the beginning, the first currency was issued by a goldsmith. Somebody took their gold to a goldsmith and he gave him a warehouse receipt for that gold. Now, the person who owned a warehouse receipt from a reputable goldsmith instead of going back and taking his gold, he might be able to take that receipt and exchange it with with somebody else who had goods and services that he desired. The other person might accept it because they recognize the receipt, they know its a reputable mint, they know there`s gold there and so that warehouse receipt can circulate as currency. That`s what banks did. Before the Federal Reserve in 1930, private banks all around the United States issued their own note currency. The currency was backed by gold that the banks had in their vaults.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Sunday, December 1, 2013

Will Bitcoins Be Worth Zero? They Might.

Today of course, we do not have a legitimate currency. We have fiat currency. There is nothing behind the dollar, which is why people think, well, what is wrong with bitcoin? Because there is nothing behind the dollar and there is nothing behind bitcoins, there fore its the same.

Well, there is a significant difference. The dollar is legal tender in America. Other currencies are legal tender some place else. And even though I do not want dollars, the government only accepts dollars in payment of taxes, therefore if I don`t want to go to jail and I value not going to jail (that does have a value), the only way I can stay out of jail is to have enough dollars to pay my taxes. So, there is a legitimate use for dollars even though they do not have any intrinsic value, the way gold does.

But bitcoins, do not have any intrinsic value whatsoever. So here is the problem. People are advocating the use of bitcoins as if its a form of money. But it can`t be. Because bitcoins do not represent a store of value. You don`t know how much bitcoins will be worth next week, next year, in 5 or 10 years. Nobody knows. Will bitcoins be worth zero? They might because they don not have any intrinsic value.

Somebody may come up with an alternative digital currency maybe more attractive than bitcoins and people will use that one. Somebody might come up with a legitimate digital currency that is actually backed by gold. That is not hard to do.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Saturday, November 30, 2013

The Only Thing The Federal Reserve Fears More Than Tapering

The Fed can talk about taper but the only thing they fear more than tapering is admitting that they can`t do it because if they taper the recovery will fail.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Friday, November 29, 2013

Federal Reserve: They Have No Intention Of Tapering

The fact of the matter is, they have no intention of tapering. The markets still haven`t figured that out, despite the fact that today, Dennis Lockhart, who is the President of the Federal Reserve Bank of Atlanta, was on CNBC and this is what he said: "We will not taper our bond buying until the economy is ready."

We will not taper our bond buying until the economy is ready, what kind of commitment is that? I think he knows the economy will never be ready. I mean ready is always subjective, when will it be ready? It`s like a drug addict saying, "Yes, I will stop taking drugs when i no longer need the drugs to stay high. Well, you always need the drugs to stay high. We are high on monetary stimulus, we are high on QE.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Thursday, November 28, 2013

Tapering & Tight Financial Conditions

If the markets continue to believe, if they continue to take the Fed taper bate and feel that a taper is imminent, interest rates on long term government bonds are going to rise even further. Now, if they continue to rise by the time the March meeting comes around financial conditions will be a lot tighter than they were back in September.

If the Federal Reserve could not taper in September because financial conditions were too tight, how are they going to taper in March or even sooner if financial conditions are even tighter?

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Wednesday, November 27, 2013

An Economy That Lives By QE, Dies By QE

The fact is, it is impossible to create a viable, self sustaining recovery with QE. I keep saying it, but if an economy lives by QE, it dies by QE. But no one seems to be able to figure this out.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Tuesday, November 26, 2013

Bitcoin Is The Wrong Vehicle

I want to spend a few moments talking about Bitcoins. And while I have a lot of sympathy with what the bitcoin community is trying to achieve, I just think they have the wrong vehicle.

Now, I think the idea behind bitcoin was to digitally replicate gold. A kind of a gold standard for the internet. Gold 2.0 has some people have alleged. And you know, if you look at bitcoins, the way they come into existence is just that they are mined just as actual gold. You mine them into exixtence. And just like mining gold, when you mine for bitcoins you actually expend real resources, real energy. There is a cost associated with creating a bitcoin. Just like there is with gold, in contrast to central banks that create pretty limitless amounts of currency for nothing, out of thin air at virtually no cost.

And also like gold, there is a limit there is a scarcity in that there there only 21 million bitcoins that can be mined into existence. I think right now there are probably around 12 million. So there is still more that can be created but again that is going to cost money to do so. And also like gold, bitcoins are divisible. You can take one bitcoin and make 100 million fractional bitcoins that collectively would have the value of a whole coin. But the idea is that you can break your bitcoin up into smaller increments for transaction, just like gold. You can have an ounce of gold, then you can have half an ounce, one tenth of an ounce. You can make smaller quantities that are more ideal for transactions. But unlike gold, you can instantaneously send your bitcoin over the internet. You can`t do that with gold. You can`t transport gold, because gold actually has substance. Bitcoins exist in the cyberspace.

When you have gold, you have to protect it. It can be stolen, you have to guard it and it may even cost you money to store it. It does not cost you any money to store bitcoins in your digital wallet. So bitcoins  really replicate all the properties of gold, even improving on some of them. But here is the problem. They replicate all the properties except the single most important. You see without that property, gold never would have been money. I am talking about value, intrinsic value, the metal itself. Bitcoins does not have any.

The reason gold became money, first it was valued as a commodity. It was a luxury good, known through out the world, everybody wanted gold. And so you knew that if you needed something you could always buy it gold because even if the person who accepted your gold did not want it, he knew somebody else who did.

Gold was uniquely suited to be money over a lot of other commodities. It basically won the free market competition for money because it had a lot of other characteristics. These are the characteristics that bitcoin is replicating, but they are not replicating the intrinsic value. That made gold desirable in the first place.  

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Monday, November 25, 2013

The Simple Truth On The U.S. Debt: Repayment Is Impossible

The thing about Ponzi schemes is that they have to keep on growing and if they don`t grow, they implode because you need a bigger supply of new investors to cash out the old investors.

Look at the U.S. Treasury Bond market. We have a 17 trillion dollar national debt (although that is just a tip of the iceberg, we actually have 100 trillion plus in total debt. 17 trillion is just where there are U.S. treasuries outstanding but the U.S. government has lots of obligations beyond the treasury debt).

But if you just focus on that, where does the U.S. government get the money to retire all the maturing bonds every year, trillions of dollars worth of Treasuries mature. The government does not have that money. It relies on new buyers to cash out the old buyers. And in many cases its the same holders, people that hold the debt, just roll it over, so we never have to pay it back.

But nobody wants to acknowledge the simple truth that repayment is impossible. All we can do is borrow more money to pay out the maturing debt but the debt stock keeps getting bigger and bigger because of the compounding interest and because the government borrows more more money every single year.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Thursday, November 21, 2013

US recovery weak, US entering recession



Peter Schiff on CNBC talking about Gold, US Recession, recovery and why Gold will go straight up.

Tuesday, November 19, 2013

Bitcoins Are No Alternative To Gold

You can play the game if you want but I don`t see bitcoins as an alternative to gold. It is not a modern day gold standard. If anything, they are modern day alchimists. But you cannot make gold digitally. It`s no better than a fiat currency.

Related trading instruments: SPDR Gold Trust ETF (GLD)

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Monday, November 18, 2013

The Minute They Remove The QE, We Are Back In Recession

The Fed wants to pretend that they can take away the QE yet the economy can keep recovering, it can`t. The minute they remove the QE, we are back in recession. That is why they are never going to remove it. But they have to pretend they are planning on removing it, they can`t acknowledge that is here forever because that will accelerate a dollar crisis, which is coming eventually anyway.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Sunday, November 17, 2013

Bitcoins: A Modern Day Tulip Mania

To me it looks like a modern day tulip mania, the fact that there are people in the hard money community that have embraced bitcoin.

A bubble is a bubble. The dotcom or the real estate bubble, there is a bubble in bitcoin. I think the reason people are buying bitcoins is because the think they are going to make money. They think the price is going to go up. It will keep going up until it implodes. And a lot of people are going to lose a lot of money in bitcoins. A small amount of people will make a lot of money but it will be paid for by a much greater amount of people who lose because they come at the end of the pyramid scheme. Wether we are at the end now, or wether it is going to keep going higher for months or years, I do not know.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Thursday, November 14, 2013

The Problem For The Market

The problem for the market is, the more the Fed succeeds in pushing up the market now with QE, the further it`s going to fall once QE stops. Because it has to end eventually, otherwise the dollar is going to collapse.

Peter Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Tuesday, November 12, 2013

The Whole Rally In Stocks Is Based On QE

If the Fed begins to taper, which I do not think it`s going to do, we will be back in recession. It`s not going to be good for stocks. The whole rally is based on QE.

Peter Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Monday, November 11, 2013

Gold Bug Schiff Counters Goldman’s ‘Slam-Dunk Sell’ Gold Call

Peter Schiff lays an iPod-sized bar valued at about $40,000 on the sun room floor of his Connecticut mansion, and calculates it would cost about $250,000 for each floor tile to pave the room with gold.
He shows off $50 gold chips, to be used when paper money becomes worthless, a prediction repeated on his daily two-hour radio show broadcast from his basement studio to 68 stations in 30 states and 50,000 listeners online. The unabashed gold bug’s Euro Pacific Capital Inc. manages a $20 million mutual fund that invests in stocks related to the metal and lost 6.4 percent since it began in July. The Philadelphia Stock Exchange Gold and Silver Index slid 1.5 percent in the same period.

Schiff, 50, isn’t fazed that gold is heading for its first annual price drop in 13 years, or that Goldman Sachs Group Inc. has called it a “slam-dunk sell.”
He predicts bullion will reverse its 21 percent year-to-date decline and probably surge 52 percent to reach a record $2,000 an ounce within a year. That’s just the beginning: Schiff said he would “be amazed” if the U.S. dollar didn’t collapse and gold failed to skyrocket before President Barack Obama leaves office in 2017.

Sunday, November 10, 2013

PETER SCHIFF QUOTES

Peter Schiff : At some point, the dollar has to give. You can't just keep printing money, and monetizing debt, and buying bonds, without the dollar imploding.

Peter Schiff : The left-wing agenda wants us to think that the reason there was a depression was because the government didn't do anything. That's not true.

Peter Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Friday, November 8, 2013

Eugene Fama Should Return The Nobel Prize

Eugene Fama Should Return The Nobel Prize. Theoretically you get the prize for excellence in economics. So if you say something that`s so bad, you theoretically should have to give it back. The Committee should be on the phone demanding that Nobel Prize right now and the returning of the money.

Peter Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Wednesday, November 6, 2013

I’m waiting for the dollar crash, I’m waiting for the real crisis to hit

“I’m waiting for the dollar crash, I’m waiting for the real crisis to hit that I know will benefit gold,” Schiff said Oct. 18 over lunch of spinach-and-beet salad and stewed rabbit in the sun room after the radio show. “The longer it takes, the longer I have to wait for that payday. But the longer it takes, the bigger that payday is going to be.” - via Bloomberg

Peter Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Tuesday, November 5, 2013

Sound Money & Limited Gov't = MAX PROSPERITY

The Fed will keep blowing air into the bubble until it bursts and the only thing that will stop them is a currency crisis. The Fed has to maintain the illusion and the only way to do that is with the drug of QE.


On Obamacare and government entitlements Peter says, "We once had a great free market economy that was the envy of the world. People were coming here from all over the world to participate in FREEDOM. We had limited government and maximum prosperity. Even though we had no government benefits at all, the poor people from all over the world wanted to come here. Why did so many poor people want to come to a country with no welfare benefits, no medicare and no food stamps? Because they knew that the best way to get out of poverty was the OPPORTUNITY to work in a FREE MARKET... We had a great country and we screwed it up."

Peter Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Peter Schiff - US Economy Already Ruined!

Whatever the Fed Does, Gold Will Rally! US Economy Already Ruined!


Peter Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Monday, November 4, 2013

Peter Schiff biography summary

Peter Schiff, President & Chief Global Strategist

Peter is one of the few investment advisors to have correctly called the current bear market before it began and to have positioned his clients accordingly. As a result of his accurate forecasts of the mortgage meltdown, credit crunch, and decoupling of commodities, precious metals, and foreign markets from the U.S. dollar, he has become a sought-after economic commentator on a range of investment topics.

Peter delivers lectures at major economic and investment conferences, and is quoted often in the print media, including the Wall Street Journal, New York Times, L.A. Times, Barron’s, BusinessWeek, Time and Fortune. His broadcast credits include regular guest appearances on CNBC, Fox Business, CNN, MSNBC, and Fox News Channel, as well as hosting a weekly radio show.

As an author, he has written four bestselling books, including his latest: " Crash Proof 2.0: How to Profit from the Economic Collapse" and "How an Economy Grows and Why It Crashes".

Sunday, November 3, 2013

The Peter Schiff Show Thursday 10/24/2013

Legal Plunder. Peter Schweizer, fellow at the Hoover Institution, on his new book, Extortion: How Politicians Extract Your Money, Buy Votes, and Line Their Own Pockets.


A Second Look at the Murder of Matthew Shepard. Stephen Jimenez, award-winning journalist, on his new book, The Book of Matt: Hidden Truths About the Murder of Matthew Shepard.


Peter Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Saturday, November 2, 2013

Peter Schiff - Vicious Gold Price Rally Coming, Buy Gold NOW!

Peter Schiff - Vicious Gold Price Rally Coming, Buy Gold NOW!

Peter Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Obama Does Not Believe In Free Market Principles

President Obama is just as clueless. He is a marxist, basically. He does not even believe in free market principles even though he is supposedly the leader of a market based economy.

Related trading instruments: SPDR S&P 500 Index ETF (SPY)


Peter Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Friday, November 1, 2013

Yellen Was The Worst Choice

The reason I was so confident that the President would choose Yellen was because I believed of all the candidates in serious consideration, Yellen was by far the worst  choice. And I was very confident that President Obama would make the worst choice.

Peter Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Thursday, October 31, 2013

The Peter Schiff Show Wednesday 10/23/2013

For Truly Affordable Care, Opt Out. Dr. Richard Amerling, associate professor of clinical medicine at nephrologist at New York City's Beth Israel Medical Center, on why the smartest move for patients seeking quality care is to abandon Medicaid, ObamaCare, and even Medicare altogether.

Peter Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Wednesday, October 30, 2013

The Federal Reserve Has No Exit Strategy

The Federal Reserve Has No Exit Strategy
A) the Fed has no exit strategy and is more likely to expand its QE program than diminish it,
B) the U.S. economy is stuck in below-trend growth and possibly headed for another recession
C) America's refusal to deal with its fiscal problems will undermine international faith in the dollar;

Peter Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

America Imports Valuable Consumer Goods And Exports Debt

America Imports Valuable Consumer Goods And Exports Debt
We don`t have a balanced trading relationship. America imports all sorts of goods, valuable consumer goods and resources and we export debt, we export paper, inflation.

Peter Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Tuesday, October 29, 2013

Gold is Going to Make New Highs

Gold is Going to Make New Highs
"Gold is going to make new highs – well above $2,000. People are going to forget that this correction ever took place and we're going to keep on going higher because we are in a major, historic gold bull market." - in Yahoo Finance

Peter Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Thursday, October 24, 2013

Political strategy

They[Republicans] lost the media battle. There’s definite media bias, but again they shouldn’t have had the fight unless they weren’t willing to raise the debt ceiling under ANY circumstances. If Republicans had dug in, they’d have to reduce spending by about a trillion dollars a year.  Many departments, such as Energy and Education, would have to be eliminated. If they were not willing to do that, they should have just given the Democrats everything they wanted so their fingerprints would be all over it.


Monday, October 21, 2013

Peter Schiff on republicans and debt ceiling

I don’t think Republicans have the fortitude to bring about the painful process of correcting the mistakes we’ve made. If we don’t raise the debt ceiling, we have to deal with the fact that we’re broke. We will have to make serious cuts. If we don’t raise the debt ceiling, we’d have to meaningfully reduce the size of government. Republicans aren’t willing to vote for it. They always campaign in favor of a balanced budget amendment, and that means the budget has to balance.

By not raising the debt ceiling, it means we’re forced to balance the budget. Republicans don’t want to cause it because it means disappointing somebody. Telling somebody they’re not going to get government benefits is not default. People that pay the Social Security tax think they’re being promised something, but it’s not a choice. They’re not getting their own money back. What the government does is it takes from the younger generation. None of it gets invested, and it’s already spent.


source: Dailycaller

Saturday, October 19, 2013

Silver Has An Exciting Future

"Silver has an exciting future. Its use in high-tech industries is expanding, from photovoltaic power and automobiles to high-end electronics and nanosilver. While the US economy is floundering, emerging markets like China have shown a voracious appetite for silver. The growing Asian middle class is also buying silver bullion in record amounts, causing supply shortages and record high premiums." - in Euro Pacific Precious Metals 

Related Stocks & ETFs: iShares Silver Trust ETF (SLV), Hecla Mining Company (NYSE:HL), Silver Wheaton Corp. (USA) (NYSE:SLW)



Peter David Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Thursday, October 17, 2013

Gold Market: A Turnaround During A Season Usually Ruled By The Bears

"In last month's Gold Letter, I explored the likelihood of a dramatic short squeeze in the gold futures market. With record short positions facing a rising gold price, I anticipated that short sellers would have to cover their bets by buying back the contracts they sold short, and in so doing, drive the yellow metal higher.

While a full-scale short squeeze has yet to develop, speculators have abandoned their record short positions in gold. In each of the first three weeks of August, futures speculators increased their net-long positions, and by August 20th, money management accounts had grown their net-long positions to the highest since February. The futures market reversed course so much that by the third week of the month, gross short positions were at their lowest since April.

That's quite a turnaround during a season usually ruled by the bears. Just as I forecast, this about-face in the futures market was likely a big factor in gold's resurgence." - an excerpt of Off To The Races

Related stocks and ETFs: Newmont Mining (NEM), Barrick Gold (ABX), AngloGold (AU), Goldcorp (GG), SPDR Gold Trust ETF (GLD), Market Vectors Gold Miners ETF (GDX)



Peter David Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Wednesday, October 16, 2013

An Unmitigated Disaster

"It's been an unmitigated disaster. The history of the Fed is the history of the decline of the United States. I am not going to blame it all on the Fed; there are other factors. But the Fed had an integral role in the gradual decline of American civilization." - in New York Post



Peter David Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Monday, October 14, 2013

Choosing Between Federal Reserve Candidates Is Like Choosing How You Want To Be Executed

"Choosing between Fed candidates is like choosing how you want to be executed." - in CBS Market Watch 



Peter David Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Saturday, October 12, 2013

The Debt Ceiling is just Politics


Peter Schiff : I don’t see the debt ceiling as the crisis, that’s part of the solution. The crisis is the debt, and the crisis is that we’re going to raise the debt ceiling. We’re going to keep raising the ceiling so we’re going to keep piling more debt on top of the debt that we have.
And, eventually, the crisis comes not because we don’t raise the debt ceiling, but because lenders don’t raise the lending ceiling because they recognize that we’re broke. They won’t want to throw good money after bad, they don’t want to keep lending money to a country that can’t pay back what has already been loaned to it.
That’s when we have a real crisis—interest rates go up; the dollar collapses. The debt ceiling is just politics. We’d be better off if the debt ceiling couldn’t be raised, because then we’d actually have to deal with the problem instead of kicking the can down the road. - in IndexUniverse

Peter Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Friday, October 11, 2013

Physical Precious Metals Demand

As Western investors flip-flop on whether or not gold remains a good buy, Eastern and emerging market investors have jumped on these low prices as an unprecedented buying opportunity. At this point, the data supporting physical precious metals demand is so great that it's easier to just list a few highlights from the second quarter of 2013:

 - 53% more bullion was purchased worldwide this quarter than in 2012 year-over-year (YoY).

 - Demand for gold jewelry worldwide grew 37% YoY. ·Global coin and bar demand hit a quarterly record of more than 500 metric tons.

 - For the 10th consecutive quarter, global central banks increased their net gold reserves

(excerpt from the article "Gold Is Off To The Races")



Peter David Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Thursday, October 10, 2013

We have to raise our Debt Ceiling is because we can't Pay our Bills


"The reasons we have to raise our debt ceiling is because we can't pay our bills," Schiff says. "We're broke and we can't pay for anything, we have to keep going deeper and deeper into debt." - in Yahoo Finance

Peter Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Either Way, Gold Rallies

“The gold market has sold off on anticipation of a taper. But even if the Fed does taper, I think we get a rally… Okay, so the Fed tapered, so what? It’s still got cheap money, it’s still going to keep on coming. Buy gold. So I think gold rallies on a taper, but I think it can have an even bigger rally on a non-taper, as people realize that the taper they baked into this gold cake isn’t going to happen. Instead, we’re getting even more QE. Either way, gold rallies.” - in Europac Metals Blog

Related ETFs: SPDR Gold Trust ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), AngloGold (AU), Goldcorp (GG)



Peter David Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Wednesday, October 9, 2013

Peter Schiff: The Fed is Lying

Peter Schiff of Europac.net tells TheStreet he thinks Wall Street analysts are wrong about gold, and that the Fed is lying about inflation.

Peter Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Peter Schiff on The Alex Jones Show Warns of Economic Collapse and Martial law

Investment broker and financial commentator Peter Schiff joins the show to reveal that the Federal Reserve's monetary expansion program, called Quantitative Easing, is destroying the middle class and pushing the American economy towards a cliff under the illusion of an economic recovery.

Peter Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Tuesday, October 8, 2013

The Precious Metals Are Off To The Races Once More

"Summer is traditionally a slow season for precious metals, but this summer started with a rout. In the last week of June, gold and silver hit 2-year lows of $1,192 and $18.61 respectively.

Fortunately, after staggering along the lows, the precious metals are off to the races once more – with gold rallying more than 18% and silver 31%. This remarkable performance continues even in the face of the Fed’s sustained tapering threats.

The exhaustion of short-sellers paired with insatiable global physical demand has positioned gold for an exciting conclusion to a volatile year." - in Right Wing News

Related ETFs: SPDR Gold Trust ETF (GLD), iShares Silver Trust ETF (SLV), Newmont Mining (NEM), Barrick Gold (ABX), AngloGold (AU), Goldcorp (GG)



Peter David Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Get Back Into Gold Before It’s Too Expensive

“The Fed knows that the only thing propping up this phony economic recovery is their QE. Rather than tapering, the next move by the Fed is going to increase the size of those monthly QE injections… What’s going to stop the Fed is a currency crisis, a collapse in the value of the dollar, a collapse in the bond market… If you did get out of gold, you should get back in before it’s too expensive to get back in.” - in Europac Metals Blog

Peter Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Monday, October 7, 2013

We Are Either Going To Default Or Inflate


"There's no way we can pay any of this money back. We're either going to default or inflate. Either way bondholders are going to lose, so don’t buy any Treasuries." - in Money News

Peter Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Sunday, October 6, 2013

Buyers of US Treasuries cannot keep Lending Money to a country that can’t pay back


Peter Schiff : …they (buyers of US Treasuries) don’t want to keep lending money to a country that can’t pay back what has already been loaned to it.

Peter Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Bernanke Thinks He Sees A Light At The End Of The Tunnel

“He thinks he sees a light at the end of the tunnel but doesn’t know it’s an oncoming train yet.” - in CBS Market Watch Blog 

Related ETFs: Financial Select Sector SPDR (XLF), SPDR Dow Jones Industrials ETF (DIA), SPDR SP 500 Index ETF (SPY)



Peter David Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Friday, October 4, 2013

The Crisis Is The Debt, Not The Debt Ceiling

"I don’t see the debt ceiling as the crisis, that’s part of the solution. The crisis is the debt, and the crisis is that we’re going to raise the debt ceiling. We’re going to keep raising the ceiling so we’re going to keep piling more debt on top of the debt that we have.

And, eventually, the crisis comes not because we don’t raise the debt ceiling, but because lenders don’t raise the lending ceiling because they recognize that we’re broke. They won’t want to throw good money after bad, they don’t want to keep lending money to a country that can’t pay back what has already been loaned to it.

That’s when we have a real crisis—interest rates go up; the dollar collapses. The debt ceiling is just politics. We’d be better off if the debt ceiling couldn’t be raised, because then we’d actually have to deal with the problem instead of kicking the can down the road." - in Index Universe 

Related ETFs: Financial Select Sector SPDR (XLF), SPDR Dow Jones Industrial Average ETF (DIA), SPDR S&P 500 Index ETF (SPY)



Peter David Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Thursday, October 3, 2013

Silver Tends To Outperform in a Bull Market

"When entering a bull market in the metals, silver tends to outperform. Gold has rallied more than 14% from its low in June, while silver is up 24 percent. There is no doubt that silver is a key ingredient for an inflation-resistant portfolio." - an excerpt From The Desk Of Peter Schiff

Peter Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Wednesday, October 2, 2013

Peter Schiff: Fed Admits Economy is Fundamentally Weak

All the buildup. The hype. You would be forgiven if you thought this was some sort of Hollywood blockbuster coming down the pipe. It fizzled, just like so many of them do. Ask a room full of economists on Tuesday if they thought the QE taper was on, and you would have heard a resounding yes. It was a question of just how much.
Then came Wednesday and the shocker that the Federal Reserve was leaving QE unchanged and slashing growth forecasts.

Peter Schiff is out with a letter explaining his thoughts on the whole process, and what he sees as a way forward. He thinks the Fed admitted that the US economy is fundamentally weak, and cannot handle the stimulus being withdrawn. The recovery is highly dependent on the QE program like an addict. Plus, the benefits all go to Wall Street. Dow 15k, yet all we produce are part-time jobs? Sustainability baby.


Schiff goes on to say that when the stimulus has to be removed, the correction to real values will be worse than the one five years ago. Obviously Peter Schiff left his rose colored glasses at home.


With QE, the Fed has succeeded in one thing. Confidence. With the stock market back at lofty levels, investors are feeling confident. Real estate prices are being bid up by funds looking to get into the rental game. Perception on the Wall Street is all is well. Except on Main Street, no one buys into that anymore. Without QE, there is no way the markets reach these levels. So remove the drug, and watch the inevitable crash according to Schiff.


As we can already see today, the Fed has one exit strategy. It will sound familiar to most Americans. Hope. Yeah, they are pinning the whole thing on hope. Sure, they will drop their hints on slowing down this, tapering that.


In the end, the Fed needs the economy to all of the sudden come back to life. The problem is, once it does and they stop the QE, they themselves become the problem with the tightening financial conditions. Interest rates rose over the summer due to the taper talk. Now, they have to hope one day the economy is strong enough to absorb their shock.


Some would argue we have where the political refrain of hope has led this country. Now we have a central bank following the same premise.


Read Peter Schiff’s full letter at: http://www.europac.net/commentaries/taper_wasnt


Peter Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Tuesday, October 1, 2013

QE is Like a Drug, The Economy Needs More Of It

QE is Like a Drug, The Economy Needs More Of It
"The recovery that the Federal Reserve is bragging about helping create is 100 percent dependent on the quantitative easing that it is supplying. M of it to sustain the phony economy. Far from diminishing QE, the next big move is going to expand it." - in CNBC

Peter Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Silver Has An Exciting Future

"Silver has an exciting future. Its use in high-tech industries is expanding, from photovoltaic power and automobiles to high-end electronics and nanosilver. While the US economy is floundering, emerging markets like China have shown a voracious appetite for silver. The growing Asian middle class is also buying silver bullion in record amounts, causing supply shortages and record high premiums." - in Euro Pacific Precious Metals

Peter Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

How to Measure Inflation


Peter Schiff : "If we used today's inflation measure in the 70s, there would've been no inflation." - in Twitter

Peter Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Monday, September 30, 2013

Peter Schiff : Choosing between Fed candidates is like choosing how you want to be executed

It doesn’t matter who takes over as the next chair of the Federal Reserve because the central bank isn’t going to slow its monthly asset purchases.
“It’s like choosing how you want to be executed,” said Peter Schiff of Euro Pacific Capital in an animated address ahead of an investment banking conference held by his firm in Manhattan Tuesday.
“Ben Bernanke is a pilot,” “Eventually the plane is going to run out of gas,” he said.


Peter Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Gold: There`s A Strong Probability That We Have In Fact Made A Bottom

"There’s a strong probability that we have in fact made a bottom, and whether we’re going to retest that bottom before going higher is anybody’s guess. But I think we’re going a lot higher. I think we’re going to take out the high of $1,800 or $1,900 set back in 2011. We might not do that in calendar year 2013, but I think we got a good shot of doing it in 2014, and actually adding quite a bit of distance above $1,900 to the upside.

The fundamentals are as strong as ever for gold. A lot of the players that exited the market in the summer of 2013 are going to be getting back in at higher prices. And a lot of the shorts are going to be in a lot of trouble, because they’re going to find it very difficult to buy back these positions that they’ve sold, because a lot of the gold that was sold by speculators on the way down was bought up by long-term holders." - in index Universe

Related stocks and ETFs: Newmont Mining (NEM), Barrick Gold (ABX), AngloGold (AU), Goldcorp (GG), Novagold (NG), Market Vectors Gold Miners ETF (GDX), SPDR Gold Trust ETF (GLD)



Peter David Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Sunday, September 29, 2013

Peter Schiff Was Right ~ 'Taper' Edition

When Ben Bernanke announced that the Federal Reserve's Open Market Committee is going to continue the money expansion program it calls Quantitative Easing apace, almost everyone in the financial media was taken by surprise. The decision "surprised almost everyone out there" they said. Well, not me. As I said, The Fed knows that the appearance of economic health would evaporate if stimulus were withdrawn. The Fed understands, as the market seems not to, that the current "recovery" could not survive without continuation of massive monetary stimulus.

Peter Schiff : The Fed knows that the appearance of economic health would evaporate if stimulus were withdrawn. But like Jack Nicholson in A Few Good Men, it also knows that the markets can't handle the truth. Over the past year Ben Bernanke and other top Fed officials have tried mightily to communicate to the markets that no decisions had been made on the future and timing of QE reductions and that its moves would depend on the data. On many occasions they even hedged the automatic nature of their data triggers and moved the goal posts that supposedly guided their policy. But as a result of this continuous obfuscation, the Fed lost control of its message.
Despite its efforts toward vagueness, the markets nevertheless made definite conclusions.  In addition to the overwhelming consensus of economists who had predicted a taper announcement for today, many even offered precise measures of how big the taper would be (median forecasts were that bond purchases would be trimmed by between $10 and $15 billion per month). As the Fed had not dashed these expectations strongly enough, yesterday's non-event comes as a surprise to most. However, as I have mentioned many times in the past, the Fed has checked into a monetary Roach Motel.


Getting out will be infinitely harder than getting in. In fact it will be likely impossible to get out without tipping the country back into recession.


Peter Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

The Precious Metals Are Off To The Races Once More

"Summer is traditionally a slow season for precious metals, but this summer started with a rout. In the last week of June, gold and silver hit 2-year lows of $1,192 and $18.61 respectively. Fortunately, after staggering along the lows, the precious metals are off to the races once more – with gold rallying more than 18% and silver 31%. This remarkable performance continues even in the face of the Fed’s sustained tapering threats. The exhaustion of short-sellers paired with insatiable global physical demand has positioned gold for an exciting conclusion to a volatile year."

Peter Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Friday, September 27, 2013

When Entering A Bull Market In The Metals, Silver Tends To Outperform

"When entering a bull market in the metals, silver tends to outperform. Gold has rallied more than 14% from its low in June, while silver is up 24 percent. There is no doubt that silver is a key ingredient for an inflation-resistant portfolio." - an excerpt From The Desk Of Peter Schiff

Related stocks & ETFs: Hecla Mining Company (NYSE:HL), Coeur Mining Inc (NYSE:CDE), Silver Wheaton Corp. (USA) (NYSE:SLW), iShares Silver Trust ETF (SLV)



Peter David Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Thursday, September 26, 2013

The US needs a Secretary of the Debt not Tresury

Peter Schiff recently stated that perhaps the U.S. should put a picture of Lance Armstrong on its currency because it is backed by artificial stimulants. Schiff also stated that the U.S. doesn't need a Secretary of the Treasury. The United States needs a Secretary of Debt, because there is no treasury with $17 trillion dollars of debt.

Peter Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Tuesday, September 24, 2013

GDP: The Controversial New Methodology

"That's not investment, that's spending. If you pay Tom Cruise $20 million to star in a movie, that isn't the same as using $20 million to build a factory, but now it is." - in Yahoo Finance 



Peter David Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Monday, September 23, 2013

The Inflation Numbers Are Going To Get Bigger

“It’s going to be harder and harder for the U.S. government to borrow money from abroad which means the Fed is not going to be tapering. They’re going to print more and more money to buy the bonds nobody else wants. That means the inflation numbers are going to get bigger, and the government is going to have to lie even more.” - in Investment Watchblog

Related ETFs: SPDR Dow Jones Industrial Average ETF (DIA), SPDR SP 500 Index ETF (SPY)



Peter David Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Sunday, September 22, 2013

The New GDP Methodology

"They weren't trying to be more accurate, they were trying to get a bigger number." - in Yahoo Finance



Peter David Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Friday, September 20, 2013

Real & Nominal GDP: How Do We Measure Inflation

"A minor, but persistent under bias in the inflation gauge used in the Gross Domestic Product (GDP) may have created a wildly distorted picture of our economic health.

It would be impossible to measure the economy without "backing out," inflation. That is why economists are very careful to separate GDP reports into two categories: "nominal" (which are not adjusted for inflation), and real (which are). Only the real reports matter. The big question then becomes, how do we measure inflation?" - in Finance Town

Related ETFs: SPDR Dow Jones Industrials ETF (DIA), SPDR SP 500 Index ETF (SPY), SPDR Gold Trust ETF (GLD)

Hall

Peter David Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Wednesday, September 18, 2013

A Dollar Crisis, A Bond Market Collapse

"It's a monetary problem we have. We have a dollar crisis coming, a bond market collapse coming." - in Money News

Related ETFs: iShares Lehman 7-10 Yr Treas. Bond (ETF) (IEF), Financial Select Sector SPDR (XLF), SPDR Dow Jones Industrials ETF (DIA), SPDR Gold Trust ETF (GLD)



Peter David Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Monday, September 16, 2013

Compound Interest: The Most Powerful Force In The Universe

Albert Einstein, a man who knew a thing or two about celestial mechanics, supposedly once called compound interest "the most powerful force in the universe." While the remark was likely meant to be funny (astrophysicists can be hilarious), it sheds light on the often overlooked fact that small changes, over time, can yield enormous results." - an excerpt from the GDP Distractor 



Peter David Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Sunday, September 15, 2013

Gold: The Fundamentals Are Fantastic

"It's a monetary problem we have. We have a dollar crisis coming, a bond market collapse coming. Gold is going to be a safe haven for all of that. The fundamentals are fantastic." - in CNBC 

Related ETFs: Financial Select Sector SPDR (XLF), SPDR Gold Trust ETF (GLD), iShares Silver Trust ETF (SLV), iShares Lehman 7-10 Yr Treas. Bond (ETF) (IEF), iShares Barclays 20+ Yr Treasury Bond ETF (TLT)



Peter David Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Friday, September 13, 2013

We Are Heading For An Economic Crisis

"I think we are heading for a worse economic crisis than we had in 2007." - in the Wall Street Journal (blog) 

Related ETFs: Financial Select Sector SPDR (XLF), SPDR SP 500 Index ETF (SPY)



Peter David Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Thursday, September 12, 2013

Who Believes That Inflation Is Currently Running Below 1 Percent?

"The most recent GDP projection used an annualized .07 percent inflation deflator to arrive at 1.7 percent growth. Anyone who believes that inflation is currently running below 1 percent has simply no grasp of our current economy." - in Finance Townhall



Peter David Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Wednesday, September 11, 2013

QE, Tapering & Bluff

"The number that is on everybody`s mind is 85. Eighty five billion a month in QE. The market that lives by QE, dies by QE. People are starting to factor in tapering. And if the Fed tapers this market is going a lot lower. I think they are not going to taper, I think they are just bluffing, I think it`s all talk." - in a recent CNBC video



Peter David Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Monday, September 9, 2013

Eventually You Are Going To See A Real Attack On The Dollar

"Eventually you are going to see a real attack on the dollar and on the US treasury market and the Federal Reserve`s ability to maintain artificially low interest rates without destroying the dollar. I mean, we are going to come to that point. It`s not there yet and I think one of the reasons is Ben Bernanke had to do some damage control as far as talking back tightening because he is already very nervous about the reaction that he did not anticipate in the bond market and how it is going to affect mortgage rates and the housing bubble that he is trying to reflate." - in CNBC

Related stocks and ETFs: Financial Select Sector SPDR (XLF), Bank Of America (BAC), JP Morgan (JPM), SPDR SP 500 Index ETF (SPY), iShares Barclays 20+ Yr Treasury Bond ETF (TLT), iShares Lehman 7-10 Yr Treas. Bond ETF (IEF)



Peter David Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Sunday, September 8, 2013

Peter Schiff : I think the Dollar is going to Collapse before the Market does

Tekowa DaSilva : Peter, in terms of the equity market itself, what are you telling your clients in terms of maybe them not wanting to miss the move? Are you recommending people step out of the way before it collapses? Peter Schiff : I think the dollar is going to collapse before the market does. The Fed is propping up asset prices by debasing the dollar--the currency with which those asset prices are denominated.So if you’re going to destroy your currency, then asset prices are not going to collapse. But what I’m concerned about is not the nominal asset price but [rather] adjusted for inflation. Another way you can look at it is expressed in gold.I think that stock and real estate prices expressed in gold are going to go down significantly over time. I know we’ve had a rally in asset prices in terms of gold recently (with the selloff in gold), but I think that’s very temporary.In fact, we are launching the Euro Pacific Gold Fund which is my first ever gold mining mutual fund and that’s going to open to the public this week. I’m timing that to coincide with what I believe to be the greatest buying opportunity that I’ve seen during the entire bull market in gold stocks.Even though gold prices are substantially off their lows, gold prices are still three times higher than they were a decade ago. [But] many gold stocks are actually priced even lower than they were a decade ago.So you got the opportunity to roll back the clock to the time where gold was under $300 and buy the gold stocks. I think they’re giving these stocks away. In fact…the sentiment has probably never been this bad. We’ve had a big collapse in price. Nobody wants to buy these stocks and so this is when I’m launching my fund.Gold stocks ironically are the victims of inflation because inflation has dramatically increased the cost of mining but the price of what they’re mining, gold, has not gone up as fast as the cost of mining it because everybody is convinced there is no inflation. They believed the propaganda from the central banks and governments and so gold has not even gone up to reflect the increased cost of mining it. So I think it is really undervalued right now. That makes it difficult for the gold mining sector but I think eventually these difficulties are going to lead to tremendous opportunities because a lot of gold mining companies are going to go out of business. A lot of companies are going to dramatically reduce their capacity, their CAPEX, their R&D and that means when gold demand really comes back in the future (I think gold demand is going to explode), there’s not going to be a lot of gold supply. So I think the price of gold is going to skyrocket and then the miners are going to literally be gold mines. Right now they’re not but I think eventually they will be.


Peter Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Friday, September 6, 2013

Yellen Is The Most Bullish For Gold & Silver

“If it’s solely based on which Fed Chairman is the most bullish for gold and silver, I would say that would be Janet Yellen. No matter who’s put in at the Fed, they are going to keep printing because that’s all they can do. They’re going to keep printing until we have a currency crisis and that is the most bullish environment for gold. Don’t wait for the crisis to buy because you are not going to like the price.”

Wednesday, September 4, 2013

The Powerful Case For Silver

"I am a well-known "gold bug" because of my strongly voiced opinion that gold has been one of the best assets for protecting yourself from the US dollar's prolonged decline.

Lately, the precious metals have taken a beating, and I've been called to defend gold's future prospects in the media countless times. While I am confident that gold will rebound with a vengeance before long, I think investors are potentially missing an even greater opportunity in that other monetary metal: silver."

Peter David Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Tuesday, September 3, 2013

Peter Schiff making a Bullish case on Silver (NYSE: SLV)

I am a well-known "gold bug" because of my strongly voiced opinion that gold has been one of the best assets for protecting yourself from the US dollar's prolonged decline.

Lately, the precious metals have taken a beating, and I've been called to defend gold's future prospects in the media countless times. While I am confident that gold will rebound with a vengeance before long, I think investors are potentially missing an even greater opportunity in that other monetary metal: silver.


To address this oversight, I have compiled a special report called The Powerful Case for Silver, which is available at www.schiffsilver.com. This 14-page report report contains in-depth analysis of what I believe to be the strongest arguments for owning the white metal. What follows is a general overview of the key arguments I make in the report.


The People's Money


After a couple generations of purely fiat currency in the United States, a lot of people have forgotten that money used to be backed by something of value - gold and silver. It wasn't until 1965 that the US stopped making its dimes and quarters out of 90% silver, and the dollar was backed by gold internationally until 1971.


In spite of fiat money's ubiquity, more and more people around the world are waking up to the dangers of paper currency and turning to gold and silver to protect their savings. Silver is particularly useful to everyday citizens around the world because of its smaller value-to-weight. A half-ounce of silver can buy you dinner. A half-ounce of gold can buy dinner for you and 60 of your closest friends. That's why for centuries, gold has been considered the money of kings, while silver is known as the people's money.


It's not hard to see the growing importance of a stable medium of exchange worldwide - look to the Cypriot banking crisis or the barter markets evolving spontaneously in economically devastated countries like Argentina or Greece. Here are places where having an stash of silver versus a roll of banknotes can mean the difference between keeping your family well-fed and having to beg for assistance.


Developed nations are also waking up to this reality, translating into record silver sales at the US Mint and other major bullion producers despite the recent correction in global spot prices. This investment demand is providing a baseline of support to silver's price and helping to re-establish silver as a universally recognized form of money.


Peter Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Monday, September 2, 2013

The American Middle Class is Disappearing


Taxes and regulations are what killing our middle class . ALL these socialist programs are keeping the rich richer and decreasing our middle class. France has 70% taxes on rich and they are better off than us .

Peter Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Saturday, August 31, 2013

The 2008 CRASH was only a small taste of what is to come

Peter Schiff : “Great-er depression’ happens, daily life for Americans will be tragically worse. “If we keep doing this policy of stimulus and growing government, it’s just going to get worse for the average American. Our standard of living is going to fall . . . People who are expecting Social Security can’t get all that money. People expecting government pensions can’t get all their money . . . We simply can’t afford to pay them.”
 

Peter Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Thursday, August 29, 2013

Gold and The Financial Crisis ~ Peter Schiff


"Unfortunately just like 1976, a true economic recovery is not just around the corner. More likely we are in the eye of an economic storm that will blow much harder than the stagflation winds of the Jimmy Carter years. And once again the establishment is using the decline it the price of gold to validate its misguided policies and discredit its critics. But none of the problems that led me and other modern day gold bugs to buy gold ten years ago have been solved. In fact, monetary and fiscal policies have actually made them much worse. The sad truth is that as bad as things were back in 1976, they are much worse now. Whether as a nation we will be able to rise to the occasion, and actually finish the job that Ronald Reagan and Paul Volcker started remains to be seen

Peter Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Wednesday, August 28, 2013

Buy Gold and Silver Now, Money Printing Until We Have A Currency Crisis & More


Peter Schiff: Buy Gold and Silver Now, Money Printing Until We Have A Currency Crisis & More


Fed Chief Ben Bernanke is going to be replaced by the end of this year. CEO of Euro Pacific Precious Metals, Peter Schiff, speculates on his replacement by saying, "If it's solely based on which Fed Chairman is the most bullish for gold and silver, I would say that would be Janet Yellen. No matter who's put in at the Fed, they are going to keep printing because that's all they can do." Schiff warns, "They're going to keep printing until we have a currency crisis . . . and that is the most bullish environment for gold. Don't wait for the crisis to buy because you are not going to like the price." Join Greg Hunter as he goes One-on-One with money manager Peter Schiff.
Peter Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Tuesday, August 27, 2013

Peter Schiff Speech - The Atlantic Economy Summit


 Peter Schiff Speech at the Atlantic Economy Summit where he said

"If it was my contractual obligation, to do everything possible to wreck this economy, what I would do is go back and do everything Ben Bernanke did in the last three years."


Peter Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Sunday, August 25, 2013

Gold: $5,000 An Ounce Will Not Take A Decade

“Is it going to happen this year? Not likely. But it's not going to take a decade. The problems are too big for gold not to react.” - in Investment News

Related stocks and ETFs: SPDR Gold Trust ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), Novagold (NG), AngloGold (AU), Goldcorp (GG)



Peter David Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Friday, August 23, 2013

Gold Mining Stocks: You Have To Love A Market Everyone Hates

"The gold mining stocks have just been crushed. I've never seen sentiment this bad, and you have to love a market everyone hates." - in Money News 

Related stocks & ETFs: Newmont Mining (NEM), Barrick Gold (ABX), Goldcorp (GG), Novagold (NG), Market Vectors Gold Miners ETF (GDX)



Peter David Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Thursday, August 22, 2013

GOLD : You Have to Love a Market Everyone Hates


 "The [gold mining] stocks have just been crushed," he told Investment News. "I've never seen sentiment this bad, and you have to love a market everyone hates.""Inflation is not low," he maintained. "A lot of people on Wall Street think inflation is low because they believe the government and not their own eyes." - in moneynews

Peter Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Wednesday, August 21, 2013

Only Wall Street Thinks Inflation Is Low

"Inflation is not low. A lot of people on Wall Street think inflation is low because they believe the government and not their own eyes." - in Money News

Related ETFs: United States Oil Fund ETF (USO), SPDR Gold Trust ETF (GLD)



Peter David Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Monday, August 19, 2013

Moving Into Gold-Mining Companies

"We've been moving clients from physical gold into gold-mining companies." - in Investment News

Related ETFs: SPDR Gold Trust ETF (GLD), Market Vectors Gold Miners ETF (GDX)



Peter David Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Sunday, July 21, 2013

The Federal Reserve Is Going To Up The Size Of QE

"The Fed is going to have to admit that it isn't working, and they're going to up the size of QE." - in CNBC.com 

Related ETFs: SPDR Dow Jones Industrial Average ETF (DIA), SPDR SP 500 Index ETF (SPY)



Peter David Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Saturday, July 20, 2013

Gold Is Being Mispriced

"You have speculative longs getting out, speculative shorts getting in, but I think is operating under a false narrative and so gold is being mispriced. The U.S. economy is not recovering. We are entering back into a recession and might be in recession by the end of this year." - in CNBC

Related ETFs: Financial Select Sector SPDR (XLF), SPDR Dow Jones Industrial Average ETF (DIA), SPDR Gold Trust ETF (GLD), SPDR SP 500 Index ETF (SPY)



Peter David Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Friday, July 19, 2013

Tapering, Post-QE World & Wrong Conclusions

"Yet the mere mention that tapering was even possible, combined with the Chairman's fairly sunny disposition (perhaps caused by the realization that the real mess will likely be his successor's problem to clean up) was enough to convince the market that the post-QE world was at hand. This conclusion is wrong." - an excerpt from Tapering the Taper Talk 

Related ETFs: SPDR SP 500 Index ETF (SPY), SPDR Gold Trust ETF (GLD), iShares Silver Trust ETF (SLV), SPDR Dow Jones Industrial Average ETF (DIA)



Peter David Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Wednesday, July 17, 2013

U.S. Treasuries: We Can Have A 4% Yield By The End Of The Summer

"Interest rates are rising, I also have been telling you that bond prices are going to fall, they are falling, interest rates are rising they are going to keep on rising. We can have a 4 percent 10 Year (US Treasury yield) even by the end of the summer." - in Futures Now



Peter David Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Tuesday, July 16, 2013

China Is Expected To Overtake America As The World's Biggest Importer In 2014

"For much of the past century, the United States has been the world's largest importer and exporter. This is what you may have expected from the world's dominant economy. But our days of preeminence are fading fast. In 2009, China surpassed the United States as the world's leading export nation (America is currently in third, behind Germany). As a small consolation, the U.S. still leads the world in exports of government debt. In February of this year, China became the world's largest trading nation (which is determined by combining imports and exports). And sometime in 2014, China is expected to overtake America as the world's biggest importer." - an excerpt from the Global Economic Realignment



Peter David Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Sunday, July 14, 2013

Waiting For Godot

"Although many haven't yet realized it, the financial markets are stuck in a 'Waiting for Godot' era in which the change in policy that all are straining to see, will never in fact arrive." - in Money News  Related ETFs: SPDR Gold Trust ETF (GLD), SPDR Dow Jones Industrial Average ETF (DIA), SPDR SP 500 Index ETF (SPY)


Peter David Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Japan: A Free And Timely Lesson On The Dangers Of Overly Accommodative Monetary Policy

"The Japanese have a reputation for excessive courtesy. The current actions of the Japanese economic leadership, who are giving the world a free and timely lesson on the dangers of overly accommodative monetary policy, should confirm this stereotype. While their efforts should provide the rest of us with an invaluable benefit (provided we are alert enough to heed the clear warnings), the lesson will cost the Japanese dearly." - an excerpt from the Sock Puppet Kabuki; Nikkei Today Parallels Dot-Com Bust

Related indexes and ETFs: Nikkei 225, Topix Index, iShares Japan ETF (EWJ)



Peter David Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Friday, July 12, 2013

Don't Believe The Mainstream

"Unfortunately just like 1976, a true economic recovery is not just around the corner. More likely we are in the eye of an economic storm that will blow much harder than the stagflation winds of the Jimmy Carter years. And once again the establishment is using the decline it the price of gold to validate its misguided policies and discredit its critics. But none of the problems that led me and other modern day gold bugs to buy gold ten years ago have been solved. In fact, monetary and fiscal policies have actually made them much worse. The sad truth is that as bad as things were back in 1976, they are much worse now. Whether as a nation we will be able to rise to the occasion, and actually finish the job that Ronald Reagan and Paul Volcker started remains to be seen. But I am confident that the price of gold will rise much higher, and that its final ascent will be that much more spectacular the longer we continue on our current policy path. Don't believe the mainstream. Just as before, they will likely be wrong again." - in Street Insider Related stocks and ETFs: SPDR Gold Trust ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), Goldcorp (GG), Novagold (NG), AngloGold (AU), Freeport-McMoRan Copper and Gold Inc. (FCX)



Peter David Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Wednesday, July 10, 2013

Gold has to go up including gold Miners

Mining is very energy intensive and ten years ago, oil was $12 - $15 a barrel, now it's $95 a barrel. So that's just one of the costs. Labor costs have gone up because the cost of living has gone up in many of the countries where gold is mined. The price of gold isn't even high because it doesn't even reflect its production costs.

It shows you how prices need to go higher. Most mines are going to be shut down and there will be no supply and that all by itself means the price of gold has to go up because there will be no supply.

Tuesday, July 9, 2013

The Definitive Take On The Vicious Sell Off In Gold

"The New York Times had the definitive take on the vicious sell off in gold. To summarize one of their articles: Two years ago gold bugs ran wild as the price of gold rose nearly six times. But since cresting two years ago it has steadily declined, almost by half, putting the gold bugs in flight. The most recent advisory from a leading Wall Street firm suggests that the price will continue to drift downward, and may ultimately settle 40% below current levels.

The rout says a lot about consumer confidence in the worldwide recovery. The sharply reduced rates of inflation combined with resurgence of other, more economically productive investments, such as stocks, real estate, and bank savings have combined to eliminate gold's allure.

Although the American economy has reduced its rapid rate of recovery, it is still on a firm expansionary course. The fear that dominated two years ago has largely vanished, replaced by a recovery that has turned the gold speculators' dreams into a nightmare.
This analysis provides a good representation of the current conventional wisdom. The only twist here is that the article from which this summary is derived appeared in the August 29, 1976 edition of The New York Times. At that time gold was preparing to embark on an historic rally that would push it up more than 700% a little over three years later. Is it possible that the history is about to repeat itself?" - in Street Insider

Related ETFs: SPDR Gold Trust ETF (GLD)


Peter David Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Monday, July 8, 2013

Lot of speculators in the Gold market

You have a lot of speculators driving the market. You have speculative longs that are getting out and you have speculative shorts getting in and in some cases they're the same people that are flipping their position, they were long and now they're short...

I think the idea came that the stock market is doing well. It has been outperforming gold. People were looking at what they perceived to be better opportunities elsewhere. There was the perception that as far as the global financial crisis the worst was behind us, and then you got Ben Bernanke basically claiming victory saying his policies have worked and we finally have the recovery we have been waiting for, and that he's on the verge of removing quantitative easing. ...

The Fed taking this away is giving people more reason to sell gold.

Tuesday, July 2, 2013

Dont believe the mainstream, they are likely wrong

Unfortunately just like 1976, a true economic recovery is not just around the corner. More likely we are in the eye of an economic storm that will blow much harder than the stagflation winds of the Jimmy Carter years. And once again the establishment is using the decline it the price of gold to validate its misguided policies and discredit its critics. But none of the problems that led me and other modern day gold bugs to buy gold ten years ago have been solved. In fact, monetary and fiscal policies have actually made them much worse.

The sad truth is that as bad as things were back in 1976, they are much worse now. Whether as a nation we will be able to rise to the occasion, and actually finish the job that Ronald Reagan and Paul Volcker started remains to be seen.

But I am confident that the price of gold will rise much higher, and that its final ascent will be that much more spectacular the longer we continue on our current policy path. Don't believe the mainstream. Just as before, they will likely be wrong again.

Thursday, June 27, 2013

The Fed's Next Big Definitive Announcement Will Be An Increase In QE Rather Than A Diminishment

"Rather than focus on the long term, the Fed is guided by the short-term realization that any significant withdrawal of support will cause a steep sell off on Wall Street, a spike in interest rates and an end to the reflating housing bubble. They are not prepared to tolerate any of these outcomes ... I believe that the Fed's next big definitive announcement will be an increase in QE rather than a diminishment." - in Newsmax  Related ETFs: Financial Select Sector SPDR (XLF), SPDR Dow Jones Industrials ETF (DIA), SPDR SP 500 Index ETF (SPY), SPDR Gold Trust ETF (GLD)


Peter David Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

Monday, June 24, 2013

Wall Street Is Engaged In Spirited Debate

"Rising stock prices have combined with rising real estate prices to convince many that the economy is recovering. As a result, Wall Street is engaged in spirited debate about when the Fed will begin bringing the current era of permanent quantitative easing to an end (forgetting for now that both markets have shown their deep dependence on QE). Most agree that the QE will eventually create an economy able to stand on its own, but there is disagreement on how long it will take. The "bullish" end of the spectrum is predicting that the Fed may begin to take its foot off the accelerator by the fourth quarter of this year. The "bears" feel that sluggish data will compel the Fed to keep pouring the money on throughout 2014. They don't understand that QE is the economy, and that any attempt to exit will be met by difficulty. The rising home prices and stock gains over the last few years are likely to vanish if the punch bowl is removed." - an excerpt from the The Global Economic Realignment

Related ETFs: Financial Select Sector SPDR (XLF), SPDR Dow Jones Industrial Average ETF (DIA), SPDR SP 500 Index ETF (SPY), SPDR Gold Trust ETF (GLD)



Peter David Schiff is an investment broker, author and CEO of Euro Pacific Capital Inc. Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies

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