July 30, 2009

"The Unskilled Workers Are Priced Out Of Their Jobs"

“Low-skilled workers must compete for employers’ dollars with both skilled workers and capital. For example, if a skilled worker can do a job for $14 per hour that two unskilled workers can do for $6.50 per hour each, then it makes economic sense for the employer to go with the unskilled labor. Increase the minimum wage to $7.25 per hour and the unskilled workers are priced out of their jobs.” Peter Schiff, TheTrumpet.com

Peter Schiff`s comments on the economy, stock markets, politics and gold. Schiff is the renowned writer of the bestseller Crash Proof: How to Profit from the Coming Economic Collapse.

July 29, 2009

Videolog, Market Update: 29 July


Topics: Emerging Markets, chinese shares, Hang Seng, Shanghai Composite, Asian Stocks

Peter Schiff`s comments on the economy, stock markets, politics and gold. Schiff is the renowned writer of the bestseller Crash Proof: How to Profit from the Coming Economic Collapse.

July 28, 2009

Latest Video : Peter Schiff


"My only promise is freedom from government" Peter Schiff

Peter Schiff`s comments on the economy, stock markets, politics and gold. Schiff is the renowned writer of the bestseller Crash Proof: How to Profit from the Coming Economic Collapse.

July 25, 2009

Latest CNBC Video Interview, July 2009


"I wouldn`t be surprised if the Dow went to 10,000" Peter Schiff

Peter Schiff`s comments on the economy, stock markets, politics and gold. Schiff is the renowned writer of the bestseller Crash Proof: How to Profit from the Coming Economic Collapse.

July 22, 2009

Videolog - The Federal Reserve Has No Exit Strategy

"The Federal Reserve has no exit strategy."

"The New Zealand Dollar made a new 52 week high overnight."

"The stock market may go higher, shorts are being forced to cover"

Peter Schiff`s comments on the economy, stock markets, politics and gold. Schiff is the renowned writer of the bestseller Crash Proof: How to Profit from the Coming Economic Collapse.

July 21, 2009

Why Isn`t Gold Higher?

One of the reasons that gold isn't stronger is because of this temporary strength of the dollar. This is keeping the gold market in check. And the dollar is getting some of the safe haven money that should be going into gold.

Peter Schiff`s comments on the economy, stock markets, politics and gold. Schiff is the renowned writer of the bestseller Crash Proof: How to Profit from the Coming Economic Collapse.

Gold Miners Are The Place To Be

Mines are not as productive as they used to be. Supply is very constrained. So if we get a big increase in demand, there are really no significant new gold deposits that are going to come on-stream any time soon. So the companies that are already producing are simply going to be able to get a lot more money for the ounces that they pull out of the ground.

Peter Schiff`s comments on the economy, stock markets, politics and gold. Schiff is the renowned writer of the bestseller Crash Proof: How to Profit from the Coming Economic Collapse.

July 19, 2009

More Cost Cutting Is Needed In US Companies

"We have excess capacity in a lot of sectors that needs to be taken out. Companies are going to have to stay in business with a lower level of business. Some companies are reluctant to make capacity cuts because they assume there will be a recovery. But a lot of people don't realize this is not a temporary recession. This is a permanent condition.

Peter Schiff`s comments on the economy, stock markets, politics and gold. Schiff is the renowned writer of the bestseller Crash Proof: How to Profit from the Coming Economic Collapse.

July 17, 2009

Our Current Leaders Are Socialists

Our current leaders have very little in common with the people who founded this country. Their philosophy is rooted in one of socialism or Marxism. They think prosperity comes from government, from central planning. They don't believe in the free markets.

Gold Is The Ultimate Store Of Value

"The global investment community will realise that gold represents the ultimate store of "value" as a safe haven replacement for a discredited dollar." in Business Middle East

July 14, 2009

CNBC Doomsayers: Peter Schiff


Latest appearance on CNBC. This piece is called the Doomsayers.

"We do not want the government to spend more, we want the government to spend less" Peter Schiff

July 12, 2009

Minimum Wage Hike Will Cost Us Jobs

In a free market, demand is always a function of price: the higher the price, the lower the demand. What may surprise most politicians is that these rules apply equally to both prices and wages. When employers evaluate their labor and capital needs, cost is a primary factor. When the cost of hiring low-skilled workers moves higher, jobs are lost. Despite this, minimum wage hikes, like the one set to take effect later this month, are always seen as an act of governmental benevolence. Nothing could be further from the truth.

July 10, 2009

Bullish On Gold Stocks

I think that gold is going to go to many thousands of dollars an ounce. I’m not exactly sure how high but I think it will be a spectacular run.

This is one sector that we can be very optimistic about because gold companies are going to be in the business of producing money. That’s going to be the money that people want. Not what the central banks are printing, but what gold mines are producing. That’s going to function as money.

July 9, 2009

Gold Is The Place To Be

Mines are not as productive as they used to be. Supply is very constrained. So if we get a big increase in demand, there are really no significant new gold deposits that are going to come on-stream any time soon. So the companies that are already producing are simply going to be able to get a lot more money for the ounces that they pull out of the ground.

The other key consideration is an inevitable return to the ‘Gold Standard’ as a way for the world’s central banks to attach a meaningful valuation to each of their country’s currencies.

The only solution to the economic problems that we have today is a return to sound money… The world is ultimately going to have to move away from the ‘Dollar Standard’ and back their currencies with something real. I think gold is the best thing to use. Gold has been money for 5,000 years.

Gold And Mining Stocks Are Poised For A Spectacular Rise

"Gold prices are poised for a spectacular and prolonged rally as the recession deepens and investors finally become disillusioned with the U.S. dollar. So says renowned Wall Street financial forecaster and economist Peter Schiff.

In a recent interview, Schiff suggests that the looming prospect of a hyper-inflationary environment in the U.S. will severely debase the greenback over the next few years. And the global investment community will realize that gold represents the ultimate “store of value” as a safe haven replacement for a discredited U.S. dollar.

Hence, gold bullion and gold-related investments, such as gold equities, will prove to be the best way to shield one’s money from the ravages of a protracted and severe inflationary environment, Schiff says.

“If you really want to grow your wealth, you should own gold in the mining sector,” he adds, while also suggesting that gold equities (companies that are already in production) offer the greatest leverage to rising gold prices.

“With gold stocks, there’s obviously a lot of leverage to higher gold prices. As millions or billions of people discover gold as a store of value and as a way to escape inflation, there’s going to be tremendous demand and somebody’s going to have to supply that demand. It’s obviously going to have to be mined,” he says. “So the companies that have gold and mine it are going to see profit margins explode.”" in Resource Investor

July 8, 2009

Latest Market Update: Videolog



Topics: Head and Shoulders technical pattern is broken and the Dow Jones Index may trade down to 7500; The March stock market lows are in danger of being tested; the talking is growing about a second stimulus package; The stimulus encourages comsuption and spending and are the source of the problems;

July 7, 2009

Keynesianism Has Nothing To Do With Economics

The vast majority of people that have studied economy know nothing about economics. What they know is keynesianism. Keynesianism has nothing to do with economics.

US Treasuries: The Japanese Just Want To Get Rid Of Them

Ultimately the Japanese do want to get rid of their US Treasuries despite the fact that their finance minister just came out and said that he had unshakable confidence in the US dollar and in our strong dollar policy. We now that is all nonsense.

July 6, 2009

Answers To Reddit Questions : PART 2



This is the second part of, "Peter Schiff`s answers your Reddit questions".

July 5, 2009

Bernie Madoff Should Be The Secretary of the Treasury

“I don’t even know why we put Bernie Madoff in jail. We should have made him Secretary of the Treasury. He understands the whole concept perfectly, of what we’re doing.” in The New American

July 2, 2009

Schiff Answers Your 10 Riddit Questions


Peter Schiff answers 10 investor questions from Riddit.

Question 1: If you were just out of college were would you move? Canada, Australia and New Zealand are some of the choices;

Question 2: When will hyperinflation kick in? We will have very high inflation, not necessarily hyperinflation;

Question 3: Comments on the "The Big Inflation Scare" article from Paul Krugman. Schiff says that most of what Paul Krugman says is nonsense;

Question 4: What is your stance on the "Drug War"? My view is that the Government War on Drugs has been innefective;

July 1, 2009