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

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