From World War II until very recently, the West - specifically Europe and the United States - was on a course for greater centralization, greater integration, and greater economic intervention. But this consensus is breaking down. In Europe, the euro has gone from steadily adding new members to now facing the prospect of having its weaker members quit. In America, the US Congressional Supercommittee has now officially failed in its mandate to bring even meager cuts to the bleeding US deficit.
This is the beginning of the end. Both the EU and US are politically paralyzed, seeming only to be able to make compromises that involve more spending, more debt, and more central planning. The results are all too predictable to free-market thinkers: bailouts leading to moral hazard, low interest rates leading to ballooning debt, and eventually a cascade of systemic failures - leading to more bailouts.
This was confirmed yet again last Wednesday when central bankers on both sides of the Atlantic announced a coordinated tidal wave of new money to bailout the Western banking system yet again. Now, the only money you can trust is the gold and silver in your pocket. - excerpt from The Great Western Crackup
ETFs, SPDR Gold Trust ETF (GLD), IShares Silver ETF (SLV)
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.
- December (5)
- November (8)
- October (9)
- September (37)
- August (38)
- July (24)
- June (43)
- May (43)
- April (37)
- March (40)
- February (50)
- January (39)
- December (39)
- November (42)
- October (45)
- September (40)
- August (36)
- July (44)
- June (32)
- May (43)
- April (18)
- March (33)
- February (31)
- January (35)
- 2012 Outlook: Stocks And Gold
- Harry Reid And The Mythical Millionaire Job-Creato...
- Gold: Price Action Shakes Out The Speculators
- Don't Be Fooled, Don't Sell Out Your Gold
- Krugman: I Have Been Trying To Have Him Debate Me ...
- We Don’t Have The Benefits Of Capitalism Because W...
- The Cost Of Employing People Is Too High
- All The Speculators, All The Bankers...All The Fin...
- Gold: Once The Weak Longs Are Cleared Out, The Ris...
- Video: Gold Outlook
- UCLA Economic Debate
- Video: A History Lesson for Newt Gingrich
- Gold: Bull Markets Climb A Wall Of Worry
- Krugman Reveals Krugmonomics Fails Even in Small E...
- CNBC Video: Central Banks And The European Crisis
- ECB `s Role In Eurozone Crisis
- Government Intervention May Have Adverse Effects
- I Did Not Like ECB`s Rate Cut
- Video: Is The Global Economic Doomed?
- Bullish On Gold Stocks
- Europe: Cutting Government Spending Is The Only So...
- When New Dollars Or Euros Are Printed, Your Metals...
- PIIGS: How The Bond Markets Treat Them Without The...
- The Main Argument In Favor Of The Euro
- The Only Money You Can Trust Is The Gold And Silve...
- Video: Bank Bailout in Disguise, Jobs Data
- Gold`s Monthly Close Was The Second Highest In His...
- Gold Will Close In On 2,000 This Year
- Good Entry Points For Gold And Silver
- Central Banks Rung The Bell To Buy Precious Metals...
- When Will The Federal Reserve Have A Change Of Hea...
- Market Update: Precious Metals
- November (35)
- October (38)
- September (36)
- August (32)
- July (22)
- June (19)
- May (27)
- April (11)
- March (22)
- February (10)
- January (24)
- December (32)
- December (20)
- November (25)
- October (39)
- September (25)
- August (18)
- July (26)
- June (30)
- May (35)
- April (22)
- March (27)
- February (16)
- January (17)
- December (22)
- November (26)
- October (25)
- September (21)
- August (16)
- July (22)
- June (16)
- May (18)
- April (29)
- March (68)
- February (17)