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

AddThis