Monday, September 29, 2014

It costs 1.6 cents to make a Penny now

A recent article on the Wall Street Journal’s blog draws attention to the high cost of producing a single penny – 1.6 cents each, to be exact. They blame this unsustainable price on the high cost of zinc, which makes up 97.5% of every American penny. The online publication Quartz ran with this story, giving it a new headline: “It costs 1.6 cents to make one penny because of the rising price of zinc”. Time for a short economics lesson.

An alternate, more accurate headline for this story would be, “It cost 1.6 cents to make a penny because of currency debasement.” Rather than pondering whether or not the United States should simply stop producing pennies to save money, Americans should really be thinking about the long-term effects of currency debasement that has been going on for generations.

Peter Schiff is a smart investor and author of several best selling books. He correctly predicted the economic meltdown of 2008 - 2009

Tuesday, September 23, 2014

Peter Schiff on Janet Yellen and Fed



Peter Schiff is a smart investor and author of several best selling books. He correctly predicted the economic meltdown of 2008 - 2009

Monday, September 15, 2014

Help main street.. not only Wall Street

They [Fed] are supporting the growth of the government. They are supporting excess profits on Wall Street, but they are actually stifling the legitimate economic growth that might otherwise help Main Street.

Peter Schiff is a smart investor and author of several best selling books. He correctly predicted the economic meltdown of 2008 - 2009

Thursday, September 11, 2014

Peter Schiff: Real crash ahead

The 2008 market collapse was not the real crash. The real crash is coming...

It’s not going to be a painless situation when we give up these government narcotics -- monetary heroin -- but it’s going to have to happen, because the more we take this drug, the more damage is being done to the economy and the risk is, of course, that eventually we overdose on it, which is the destruction of the currency and a runaway inflation.

Peter Schiff is a smart investor and author of several best selling books. He correctly predicted the economic meltdown of 2008 - 2009

Wednesday, September 10, 2014

Peter Schiff on being an American Company



Peter Schiff is a smart investor and author of several best selling books. He correctly predicted the economic meltdown of 2008 - 2009

Tuesday, September 9, 2014

Is the Economic recovery real

Who are you going to believe about the economic recovery – everyday Americans or the financial media? 

Peter Schiff is a smart investor and author of several best selling books. He correctly predicted the economic meltdown of 2008 - 2009

Thursday, September 4, 2014

Forced move away from dollar

We’re flexing a lot of muscle that we don’t have. We’re irritating a lot of people that we need to suck up to. We’re creating extra incentive for people to move away from the dollar. That could ultimately be the biggest problem for the [stock market]. A big drop in the dollar and acceleration of inflation would put pressure on the Fed to raise rates.

Peter Schiff is a smart investor and author of several best selling books. He correctly predicted the economic meltdown of 2008 - 2009

Wednesday, September 3, 2014

Peter Schiff sounds US housing market alarm again

I think this[US Housing prices] is a bubble. 

The main difference between the last bubble and this bubble is the last one was a main street bubble and this one is a wallstreet bubble. This one is a more Wallstreet bubble because the principle speculators are hedge funds, private equity funds and very high net worth individuals who are paying all cash for properties. And buying them on the anticipation of selling them at a profit or renting them to Americans who can no longer afford to buy. 

I think a lot of real estate that was snapped up in foreclosure auctions, people overpaid and I think investors are just now realizing they overpaid. So I think the speculative buyers are leaving the market and there is no one to fill the void because the real buyers are absent. 

And if you look at the recent home statistics the percentage of homes bought by first time buyers is at a record low. 

In fact home ownership among individuals is at generational lows, so prices have to come down dramatically from here before real buyers can actually afford to buy all the properties that have been bought by speculators, and at some point the speculators who own these properties, if they cannot collect enough rent to cover the cost of ownership they are going to be selling these properties, and look out below because when they put these properties up for sale, again there are no buyers anywhere near the current prices.

via RT

Tuesday, September 2, 2014

Ron Paul on Peter Schiff's final show [VIDEO]


Peter Schiff is a smart investor and author of several best selling books. He correctly predicted the economic meltdown of 2008 - 2009

Monday, September 1, 2014

Peter Schiff on Michael Brown protestors


Peter Schiff is a smart investor and author of several best selling books. He correctly predicted the economic meltdown of 2008 - 2009

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