June 30, 2010

I Own A Lot Of Mining Stocks

I own a lot of mining stocks, personally, gold mining companies around the world. There are some in the United States, but more often than not they're in Canada, Australia; they're in Asia, South America, South Africa. There are a lot of companies that are going to benefit ... because as gold prices go up, if the price of gold is rising faster than the cost of mining it, their profits really increase. And so you gain some leverage to a rising gold price.

in LewRockwell.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.

June 29, 2010

Investing In China

In fact, a strengthening RMB is part of my thesis. They're one of the reasons I'm in China. And my whole focus on my Chinese investments is domestic demand. I want to benefit from the increased purchasing power of the Chinese middle class, and that is exactly what a strengthening RMB is going to lead to.

(I am investing) mostly in Chinese companies that are growing market share in China. I also play the Chinese market by buying some of the resource companies around the world in Australia, Norway, Canada, that supply raw materials to Chinese industry ... but my main focus is on Chinese companies and also companies that are on [the] periphery, you know in Singapore, other companies in southeast Asia, of course Hong Kong, which is now part of China. There are a lot of companies there that are very well positioned to benefit from a growing Chinese economy. That doesn't mean that there aren't any U.S. companies that can benefit as well. I just think that you get more bang for your buck investing in Chinese 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.

June 28, 2010

What Rising Gold Prices Are Telling Us Is That There Is A Lot Of Inflation In Our Future

But I think what rising gold prices are telling us is that there is a lot of inflation in our future ... As the world stops lending us money, my fear is that rather than making the necessary cuts, the way Europe is trying to do now ... we try to avoid the pain by simply monetizing the deficits; that we just print money; that the Federal Reserve just buys more debt so that the government doesn't have to make the hard choices.

If we don't have the guts to level with voters, and instead we try to print money to avoid that, that's when we have runaway inflation. I think that's what gold is saying. Gold is telling you our politicians are most likely to act in their own interests rather than national interest.

Related ETF`s: SPDR Gold Trust (ETF) (Public, NYSE:GLD) and Market Vectors Gold Miners ETF (Public, NYSE:GDX)

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.

I Hope That We Go Back To A Gold Standard

I hope that we go back to a gold standard because it works. It's constitutional. It's sound money. It's what gives you better economic growth and holds government spending in check and keeps inflation under control.

in LewRockwell

Related ETF`s: SPDR Gold Trust (ETF) (NYSE:GLD) and Market Vectors Gold Miners ETF (NYSE:GDX)

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.

June 26, 2010

Gold And Mining Stocks

"Also, I own a lot of mining stocks, personally, gold mining companies around the world. There are some in the United States, but more often than not they're in Canada, Australia; they're in Asia, South America, South Africa. There are a lot of companies that are going to benefit ... because as gold prices go up, if the price of gold is rising faster than the cost of mining it, their profits really increase. And so you gain some leverage to a rising gold price."

in TheStreet.com

Related stocks: Newmont Mining Corporation (Public, NYSE:NEM), Barrick Gold Corporation (USA) (Public, NYSE:ABX), Yamana Gold Inc. (USA) (Public, NYSE:AUY), Goldcorp Inc. (USA) (Public, NYSE:GG), Kinross Gold Corporation (USA) (Public, NYSE:KGC), Agnico-Eagle Mines Limited (USA) (Public, NYSE:AEM), Fronteer Gold Inc. (Public, AMEX:FRG), Eldorado Gold Corporation (USA) (Public, NYSE:EGO), New Gold Inc. (USA) (Public, AMEX:NGD)

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.

How To Invest In Gold

Well, there are a lot of ways you can invest in gold. You can own the actual physical precious metal. I have been buying the physical precious metals for my clients at my brokerage firm Euro Pacific Capital since I think 2001, 2002. We've been buying it through a program in Perth ... where we actually store the bullion for you in Australia free of charge.

in The Street.com

Related ETF: SPDR Gold Trust (ETF) (Public, NYSE:GLD)

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.

June 24, 2010

Gold And Gold Stocks

I don’t even look at gold as an investment. I look at gold stocks as an investment, although I would consider them to be more speculation at this point because they don’t offer much in terms of yield. I would look at gold more the way I would look at cash. It’s liquid. It’s a store of savings. I look at it as if you don’t want to invest your money, you hold it in gold. It’s like putting your money in a bank and saying you don’t want to risk it, I just want to save it. I don’t really view it as an alternative to stocks or bonds, it’s an alternative to the euro or the dollar or the Japanese yen. And from that perspective, it’s an absolute winner.

For awhile, gold was on the back-burner. People had confidence in Alan Greenspan and central bankers, you could get a good rate of return, there was a lot of interest you could earn by keeping your money in a bank and gold had declined for 20 years. No one was really interested in it. But it’s making a big comeback. Eventually, more and more people will be owning gold. Right now, I think there’s only a small segment of the population that has caught on to gold and rediscovered it. And is more and more people return to gold and understand why it’s been money for so long and have more distrust of governments and central bankers, its appeal is going to strengthen and the price is going to go up. I think it’s going higher. I think it’s going over 5,000 USD an ounce.

in Benzinga

Related ETF`s: SPDR Gold Trust (ETF) (Public, NYSE:GLD) and Market Vectors Gold Miners ETF (Public, NYSE:GDX)

Related Stocks: Newmont Mining Corporation (Public, NYSE:NEM), Royal Gold, Inc. (Public, NASDAQ:RGLD), Barrick Gold Corporation (USA) (Public, NYSE:ABX) and Goldcorp Inc. (USA) (Public, NYSE:GG)

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 It`s An Absolute Winner

"I don't even look at gold as an investment...I would look at gold more the way that I would look at cash. It's liquid. It's a store of savings...I don't really view it as an alternative to stocks or bonds, it's an alternative to the Euro or the Dollar or the Japanese Yen, and from that perspective, it's an absolute winner...I think it's going over $5,000 an ounce."

in Benzinga

Related ETF: SPDR Gold Trust (ETF) (Public, NYSE:GLD)

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.

June 23, 2010

Bearish On US Treasuries


Latest CNBC video interview

"Long term, US Treasuries have no way to go but down"

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.

June 22, 2010

China Will Be Able To Reap The Rewards Of Their Own Productivity

If you look at the problems in China right now, there is inflation, striking workers who are protesting inflation. Inflation in China is a direct result of the currency peg. People think China has an export economy. They don`t. They have a production economy. If they consume their production rather then exporting it to the US, they will be much better off. Because they will be able to reap the rewards of their own productivity.

in CNBC, June 21

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.

June 21, 2010

CNBC Video: Stronger Yuan Game Changer For Investors?












CNBC Video, "Stronger Yuan Game Changer For Investors?"

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.

Greenspan On The Fiscal Time Bomb


Latest video market update, June 20.

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.

June 18, 2010

Obama`s Energy Bill, Congress: A Huge Loss For The American Economy


Latest video market update.

Topics: BP, energy bill, Obama, oil spill

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.

June 17, 2010

Do We Have A Bright Future?

If we can start dismantling the enormous government we’ve erected over the years, if we can start repealing the rules and regulations and letting free market forces allocate resources in this economy and determining which companies survive and which fail, if we can cut government spending enough, if we can abolish enough agencies and departments so that we can reform and reduce taxes in this country on hard work and production and savings and investment, we have a bright future and there’s a lot to look forward to.

in Benzinga.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.

June 16, 2010

Obama`s Reaction To The Oil Spill

"He's setting us up for some kind of huge energy bill. As bad as this oil spill is, the Obama reaction will do more harm than the spill itself.

What we've learned from this spill is the unintended consequences of government policy. Drilling closer to shore is politically problematic because beachgoers don't want to see oil derricks. That has forced oil companies to drill in deeper water, a far more risky endeavor. We'd be better off drilling closer to shore. And why are we even drilling in water? Look at all the oil that's up in the Arctic National Wildlife Refuge in Alaska."

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.

June 15, 2010

Stock Market Update: Markets Are Going Higher


Latest market update on the stocks and the US dollar: "The stage is set for another leg down in the US dollar"

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.

Use Bernanke As A Contrarian Indicator

"If anything you use Ben Bernanke as a contrarian indicator, because pretty much everything he says you can bet that the opposite will in fact happen."

in Videoblog

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.

Oil Prices Are Going Much Higher

"Oil prices continued their recent surge, we are back above 75 per barrel and I think we are headed much, much higher in oil prices."

in Videoblog

Related Etf`s: United States Oil Fund LP (ETF) (Public, NYSE:USO) , iPath S&P GSCI Crude Oil Total Return (Public, NYSE:OIL), Energy Select Sector SPDR (ETF) (Public, NYSE:XLE)

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.

June 14, 2010

A Surge In Oil Prices Will Be An Obstacle On The US Recovery

Once the euro finally stabilizes against the dollar, I expect commodity prices to resume their rise, especially oil. Normally, the uncertainty created by the disastrous oil spill in the gulf, and the resulting moratorium on deep-water drilling, would have sent crude oil prices skyrocketing. However, fears of a global slowdown, euro weakness, and general risk aversion have held prices in check. As Asia continues its growth and Europe regains its footing, I expect a delayed surge in oil prices, which will put yet another obstacle on the road to US recovery.

ETF`s on Oil: United States Oil Fund LP (ETF) (Public, NYSE:USO), iPath S&P GSCI Crude Oil Total Return (Public, NYSE:OIL), ProShares UltraShort DJ-UBS Crude Oi ETF (Public, NYSE:SCO)

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 Can Reach 5,000 To 10,000 In The Next 5 to 10 Years

"Gold could reach 5,000 USD to 10,000 USD per ounce in the next 5 to 10 years”

in Business Week

Related: SPDR Gold Trust (ETF) (Public, NYSE:GLD), Newmont Mining Corporation (Public, NYSE:NEM), Barrick Gold Corporation (USA) (Public, NYSE:ABX)

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.

June 11, 2010

Oil Prices Should be Going Through The Roof

Oil prices should be going through the roof right now. The only reason they’re not is because of the broad-based sell off around the world in equities, commodities, and other currencies due to the fear of contagion in Europe. This is trumping the very very bullish news for oil. But once we hit a bottom, I think we’re gonna see a huge increase in the price of oil.

in ETF News

Oil ETF`s: United States Oil Fund LP (ETF) (Public, NYSE:USO) and iPath S&P GSCI Crude Oil Total Return (Public, NYSE:OIL)

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.

June 10, 2010

If The IMF Decides To Bail Out Greece The Monetary Burden Will Fall Mainly Upon The United States

Don't let the President fool you with his "the International Monetary Fund (IMF) would be bailing out Greece, not the U.S." rhetoric. The IMF is made up of nearly 200 countries, but the U.S. supplies the organization with roughly 17% of its funding. Japan provides the second most funding at about 6%. And in addition to the huge discrepancy in funding, just last year President Obama convinced Congress to award the IMF an extra $100 billion to use as it pleases.

Long story short - if the IMF decides to bail out Greece the monetary burden will fall mainly upon the United States.

related: National Bank of Greece (ADR) (Public, NYSE:NBG), SPDR S&P 500 ETF (Public, NYSE:SPY)

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.

Washington Wants To Use Our Tax Dollars To Bail Out Greece

You probably already know that the government bailed out the American automobile industry and various banks like Freddie Mac, Fannie Mae (Public, NYSE:FNM) and American International Group, Inc. (Public, NYSE:AIG). But do you know what else Washington spent our tax dollars keeping afloat?

The diamond, music and adult entertainment industries...

This is no joke. Washington prioritized saving the adult entertainment industry before giving us a tax break and helping us put food on the table for our families -- in the middle of the financial meltdown!

And it gets better. Now Washington wants to use our tax dollars to bail out Greece when our own economy is shaky at best!

I'm sick and tired of watching while Washington uses our hard earned tax money to benefit other countries and pay for frivolous pet projects. I want to see our tax dollars spent on things Americans need.

Related stocks and ETF`s: American International Group, Inc. (Public, NYSE:AIG), Fannie Mae (Public, NYSE:FNM), National Bank of Greece (ADR) (Public, NYSE:NBG)

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.

June 9, 2010

Signs Of An Inflationary Depression?

In recent months, GDP numbers have rebounded - primarily as a result of record low interest rates reliquifying the credit market and government stimulus jolting consumer spending. Although the "positive growth" has delighted Obama's economic brain trust, it has done little to boost the fortunes of Main Street. As I have said many times, GDP largely measures spending, and spending is not growth.

Last Friday we received the latest indication that the real economy is not recovering in the slightest. The Labor Department reported that non-farm payrolls increased by 431,000 jobs in May. In a press statement, the President himself crowed at the news, noting that the official employment rate fell to 9.7% from 9.9%. However, just inches below the headline, red flags were everywhere. Only 41,000 of those jobs were generated in the private sector - far below the median forecast of 180,000. Even more troubling was the fact that the Census Bureau alone accounted for 411,000 new jobs, which were almost exclusively temporary positions.

Rather than a recovery, the jobs data seems to indicate that we are still mired in the first economic depression since the 1930s. Back in 1931, two full years after the Crash of 1929, there were still very few people who thought that the recession then underway would one day be called the Great Depression.

Increased spending, financed by unprecedented borrowing, will prove to be just as temporary as a US census job (unless, in the name of stimulus, Obama decides to make "people counting" a permanent function of the US government.). When the bills come due, the next leg down will be even more severe than the last.

The swelling ranks of the government payroll, and the shrinking number of private taxpayers footing the bill, will guarantee larger deficits and a weaker economy for years to come. In addition, the artificial spending has prevented a much-needed restructuring from taking place, leaving our economy far less efficient than before the crisis began. In other words, we have dug ourselves into a much deeper hole while failing utterly to build any means to climb out.

One reason that we have thus far been spared the full wrath of Washington's poor decisions is that we are still benefiting from problems abroad, particularly in the eurozone. As sovereign debt issues have temporarily caused a flight to the dollar, our economy has benefited from lower interest rates and restrained consumer prices.

However, EU member-states have shown some willingness to confront their problems by cutting government spending - correctly ignoring US government suggestions that they do the opposite.

Just today, newly elected UK Prime Minister David Cameron prepared his constituents for austerity. Citing a budget deficit that is currently running at 11 percent of GDP, Cameron indicated that government spending would have to fall in order to maintain solvency and a high standard of living.

Cameron went on to say, "Greece stands as a warning of what happens to countries that lose their credibility, or whose governments pretend that difficult decisions can somehow be avoided." This type of realistic sentiment is completely absent in our current leadership in Washington, even though the US deficit is 9.9 percent of GDP and mounting. Meanwhile, the tough decisions being made by European governments will start to rebuild investor confidence in the euro.

Once the euro finally stabilizes against the dollar, I expect commodity prices to resume their rise, especially oil. Normally, the uncertainty created by the disastrous oil spill in the gulf, and the resulting moratorium on deep-water drilling, would have sent crude oil prices skyrocketing. However, fears of a global slowdown, euro weakness, and general risk aversion have held prices in check. As Asia continues its growth and Europe regains its footing, I expect a delayed surge in oil prices, which will put yet another obstacle on the road to US recovery.

Our last remaining leg of support has been the activity of Asian central banks, who have continued in their herculean efforts to prop up the dollar and bail out Americans with low interest rates and cheap imports. However, when sovereign credit risk eventually rears its head in America, look for Asian policymakers to finally wise up. Once that prop is removed, there will be no questions about the gravity of our situation - and little dispute that it amounts to a depression.

The real danger will be if we follow our own foolish advice that Europe appears to have rejected. Treasury Secretary Timothy Geithner has bluntly suggested that European governments should print and spend money in order to keep their economies out of recession. In reality, cutting government spending is a far better stimulus. Maintaining lavish budgets through the use of the printing press will only result in disaster. Not only will such action fail to avert a double-dip recession, but it will practically ensure an inflationary depression.

As I have said before, we can't simultaneously grow the economy and grow government. The latest jobs report shows that we are just growing government. If that trend doesn't soon reverse, investors will start betting on the collapse of the dollarzone.

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.

June 8, 2010

I Will Treat Taxpayer Dollars Like They Are My Own

As Senator, I will treat taxpayer dollars like they are my own. That means no more frivolous earmarks, special interest deals or backroom kickbacks. I'm a businessman and economist -- not a politician -- so I will spend the next 6 years working hard to restructure the economy and ensuring that America's financial future is secure. And then I'll retire. Because trust me -- I have no political ambitions.

I want to go to Washington solely to get America's fiscal house in order. I'm the only candidate that can save America. Are you going to let the political establishment stop me?

in Schiff for Senate

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.

June 7, 2010

There Is No Recovery

I don`t know when people are going to figure out that there is no recovery. I have been talking about this for a long time. GDP is growing, but that is not because the economy is growing. That is because we are going deeper into debt. We are borrowing money to grow the government.

in videoblog, June 5

related ETF`s: SPDR S&P 500 ETF (Public, NYSE:SPY) and ProShares UltraShort S&P500 (ETF) (Public, NYSE:SDS)

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.

June 6, 2010

US Markets Update


Latest market update from Peter Schiff.

Stocks and ETF`s: BP plc (ADR) (Public, NYSE:BP), SPDR S&P 500 ETF (Public, NYSE:SPY) and ProShares UltraShort S&P500 (ETF) (Public, NYSE:SDS)

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.

June 4, 2010

How To Buy Gold



Related stocks and Exchange Traded Funds: SPDR Gold Trust (ETF) (Public, NYSE:GLD), Market Vectors Gold Miners ETF (Public, NYSE:GDX), Yamana Gold Inc. (USA) (Public, NYSE:AUY), Goldcorp Inc. (USA) (Public, NYSE:GG), Newmont Mining Corporation (Public, NYSE:NEM)

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.

June 2, 2010

The Wrong Way To Buy Gold (Video)


Latest video market update from 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.

June 1, 2010

People Are Afraid Of The Debasement Of All The Currencies

"People are afraid of the debasement of all the currencies. What's surprising is that gold is still as low as it is."

in Business Week

Related ETF`s: Market Vectors Gold Miners ETF (Public, NYSE:GDX) and SPDR Gold Trust (ETF) (Public, NYSE:GLD)

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.