September 30, 2009

US Dollar Outlook

Renowned investor and economist Peter Schiff, the president of investment firm Euro Pacific Capital and author of 'Bull Moves in Bear Markets' said the US dollar is expected to get even weaker, reaching new lows versus commodities and other currencies.

He sees the Dollar moving to the center of a carry trade and encouraging global investors to borrow more dollars to fund higher-yielding currencies and assets.

Speaking in a recent interview with CNBC Schiff said: “I don’t know when [the dollar] is going to strengthen,” Schiff told CNBC. “The dollar isn’t the new yen, it’s unfortunately the new peso.”

“The yen has gone a lot higher but the dollar is going to go a lot lower, which makes it ideal,” said Schiff.

“Not only can you borrow dollars for very cheap and earn to carry by investing in higher yielding assets, but the dollar is going to fall sharply. So anyone who puts on the carry trade is going to make a ton of money.”

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.

VideoBlog: Market Update


Topics: FDIC bailout; FDIC funding needs;

"There are huge problems in the banking sector"

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.

September 29, 2009

Video Interview On CNN

Latest Peter Schiff`s video interview. CNN, September 2009.


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.

September 28, 2009

The US Dollar Is The New Peso

The U.S. dollar will continue weakening, and investors may borrow it to invest in higher-yielding assets, says Peter Schiff, president of Euro Pacific Capital.

“I don’t know when (the dollar) is going to strengthen,” Schiff told CNBC.

“The dollar isn’t the new yen, it’s unfortunately the new peso.”

A weak dollar and low U.S. interest rates push the greenback toward becoming a carry trade currency, which, like the yen for many years, attracts investors to borrow it cheaply to invest elsewhere.

However, Schiff says, the dollar will weaken even further as the yen becomes a stronger currency, which makes the U.S. dollar resemble a more volatile currency such as the peso.

“Not only can you borrow dollars for very cheap and earn to carry by investing in higher yielding assets, but the dollar is going to fall sharply. So anyone who puts on the carry trade is going to make a ton of money.”

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.

September 27, 2009

"If The Economy Is Sound, Why Zero Percent Interest Rates?"

Ben Bernanke is keeping his record of perfect intact of never getting anything right. One again he has got it wrong. First of all, spending money is not economic activity. If the FED really thought that the economy was sound why does it have to kkep it on life support? Why do we have zero percent interest rates?

in TECH TICKER

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.

September 25, 2009

Renminbi Could Double Or Triple When It`s Depegged From The Dollar

"In addition to gold, Schiff remains bullish on Asia, most notably China. His firm recently launched the Euro Pacific Halter China fund, and Schiff believes "there's a lot of value" in China and thinks the renminbi could "double or triple" when it's depegged from the dollar."

In Business Insider

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 Hitting 5000 USD In The Next Couple Of Years

Unlike the "legitimate bull markets" of many foreign markets, Peter Schiff believes the U.S. is merely experiencing a "rally in a bear market," and is lagging the rest of the world "for a reason."

The worst is not over, according to Euro Pacific Capital's Schiff, who predicts the Dow will fall another 90% from current levels when measured against gold.

A longtime dollar bear and gold bull, he foresees gold hitting $5000 per ounce "in the next couple of years," and predicts the Dow and gold will trade on a one-to-one ratio vs. the current level of around 9.7-to-1. Schiff believes gold is currently "climbing a wall of worry" but will eventually become as hot as tech stocks in 1999 and start moving up $100 per day.

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.

TechTicker Video Interview: "Interest Rates Can Spike Up very Rapidly"

Yahoo Finance TechTicker interview, September 24.

Topics: Federal Reserve, Inflation, US Dollar, China and US Bonds, Currency Crisis

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.

September 23, 2009

Market Outlook, CNBC Interview

Peter Schiff gives his market outlook on CNBC.

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.

September 22, 2009

We Have An Economy That Is A Big Leveraged Pyramid

"The people who are touting this recovery still don’t understand the real problem we have to recover from,” Mr. Schiff says in an interview with the Financial Post. “We have an economy that is a big leveraged pyramid - it is almost like a Ponzi [scheme] economy. It can’t work. The problem is the politicians find a way to bring it back up.”

in Canada.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.

September 21, 2009

"We Are In A Deeper Hole Than We Were Before"

"What's the new lease on life? Flood the world with cash. And the result once all this money is spent? We are in a deeper hole than we were before."

in Vancouver Sun, September 20, 2009

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.

September 18, 2009

"This Crisis Is Going To Progress"

"This crisis is going to progress, its going to get a lot worse in the years ahead. There is no real recovery coming. The economy is going to keep getting worse, unemployment is going to get worse, inflation will run out of control and interest rates are going to spiral higher.

We need to shrink government, instead of expanding government. We need higher interest rates, not lower interest rates. We need americans to save their money, not to encourage them to spend more money.bvWe want to get rid of consumer credit so that businesses can have access to credit . We want businesses borrowing money to make stuff and employ people. We do not want consumers borrowing money to blow it on comsuption."

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.

Peter Schiff on Fast Money CNBC, September 17

Latest Peter Schiff`s video interview on CNBC.

"This crisis is going to progress, its going to get a lot worse in the years ahead. There is no real recovery coming. The economy is going to keep getting worse, unemployment is going to get worse, inflation will run out of control and interest rates are going to spiral higher."

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.

September 17, 2009

"Much More Pain Down The Road"

Money manager Peter Schiff, a critic of Washington's handling of the crisis, said Bernanke and other policy-makers may have helped ease the pain of the downturn "but the consequences are much more pain down the road."


"We're in worse shape now than before the crisis, deeper in debt," says Schiff, president of brokerage Euro Pacific Capital based in Darien, Conn. "We should have let more institutions fail."

in Associated Press

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.

September 13, 2009

Inflation Vs. Deflation Debate

Radio interview with Peter Schiff, FinancialSenseHour, 12 September 2009

Peter Schiff expresses his views on the inflation versus deflation debate.

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.

About The Rise In Gold Prices

"They all think there's no inflation. They think gold must be going up for some other reason or that there's no problem with the American economy."

Peter Schiff in NewsMax.com, Sep 8, 2009

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.

September 9, 2009

Outlook For Gold:"We Are Going To Have Gold 2,000, Gold 3,000, Gold 4,000"


"We are in a major bull market, I think we are going a lot higher. The spot price of gold is still below 1,000 and I think you got the futures markets going above 1,000. But if you look at the ETF GLD, SPDR Gold Trust (ETF) its at 980 and in March of last year it briefly traded above a thousand.I think we are going through a 1,000 (...) we are going to have gold 2,000, gold 3,000, gold 4,000. Everytime it hits another milestone we are going to have another party." in FOX Business News

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.

September 8, 2009

Gold, Silver And The US Dollar

Gold’s recent two-day 15 percent surge, Schiff notes, is the equivalent of the Dow being up 1,400 points — and a clear signal that investors fear inflation is just around the corner, says Euro Pacific Capital CEO Peter Schiff.

Further Peter Schiff comments on Gold, Silver and the US Dollar: "They all think there's no inflation," Schiff says. "They think gold must be going up for some other reason or that there’s no problem with the American economy.”

“If you’re buying gold because you think the dollar’s going to lose value, you’re buying it as an inflation hedge.”

The Chinese government, Schiff notes, is encouraging its citizens to buy gold and silver because officials know the value of these precious metals will rise. “They know they’re going to try and get rid of the dollar, which means gold and silver have to go up and they want their citizens to have real money.”

“It’s unfortunate our politicians and central bankers haven’t figured it out.”

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.

September 7, 2009

Market Update: Employment Report Analysis


Topics:
- Employment Report analysis;
- Wall Street reaction to the Employment Report, bonds, stocks, us dollar;
- Friday`s dollar weakness against commodities and currencies;
- There is no reason to celebrate: "jobs aren`t being created, are being destroyed"

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.

September 4, 2009

Moves In Gold, Silver And The US Dollar

Video blog update, September 3.

Topics: silver and gold huge runnup; moves in gold stocks, silver stocks;

"The patterns we saw in 2008 are not being repeated in 2009. We are not getting this convergence of assets where all assets move in the same direction"

"People are afraid to buy gold and gold stocks because they are expecting a repeat of the 2008 market moves. Its not likely to happen again"

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.

September 1, 2009

"We Cannot Have A Vibrant Economy If We Keep Reflating A Busted Bubble"

"As painful as it is, this recession is necessary. We're never going to have a vibrant economy if we keep concentrating on reflating a busted bubble." in NewsMax.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.