June 29, 2011

The US Sovereign Debt Problem

U.S. sovereign debt is the grandaddy of all sovereign credit problems, credit problems and our crisis is going to be too big to hide beneath a bailout or to kick down the road.” - in BeaconEquity

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, 2011

Silver Can Go To 200 USD An Ounce

“I think anything in the low $30’s represents a pretty good entry point for people to buy...Once we go through $50...I see silver going to $200 an ounce. I own a lot of silver personally because of that outlook.” - in KWNews

Tickers: IShares Silver ETF (SLV), Hecla Mining (HL), Silver Wheaton (SLW)

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 27, 2011

This Is A Huge Wall Of Worry And Everybody Is More Fearful Than Greedy In The Gold Mining Market

“Well I think they are throwing these stocks away. I mean gold is less than 20 dollars from a record high, yet if you look at the HUI (Gold Bugs Index) a 16 percent rally is what it would need just for the index to get back to where it was when gold was less than 20 dallars higher than its current price. You look at some of the big gold mining companies, Barrick Gold is trading at 10 times forward earnings, 10 times earnings!

I remember when that stock was 30 to 40 times earnings, yet here we have a huge bull market in the price of gold and the PE’s have compressed to 10. I think anyone who believes there is a bubble in precious metals, all you have to do is look at the PE’s of these mining stocks and realize this isn’t a bubble at all. This is a huge wall of worry and everybody is more fearful than greedy in the gold mining market.” - in King World News

Tickers: SPDR Gold ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), Anglo Gold (AU), Goldcorp (GG), New Gold (NGD), Novagold (NG), Seabridge Gold, Inc. (USA) (AMEX:SA), Seabridge Gold Inc (TSE:SEA), Rubicon Minerals Corp. (TSE:RMX), Goldcorp Inc. (TSE:G), Kinross Gold Corporation (TSE:K), Yamana Gold Inc. (TSE:YRI), Yamana Gold Inc. (USA) (NYSE:AUY)

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.

Video: The Lies a Fed Chairman Tells


Latest video blog update.

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, 2011

Graduating In Debt With No Real Marketable Skills

We've got too many of Americans taking guaranteed loans and going to college and majoring in philosophy or sociology and graduating with 100,000 dollars in debt yet with no real marketable skills. - in MSNBC.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 22, 2011

Double Dip & Then Triple Dip

"Try double dip and then triple dip. As long as we get stimulus, any `recovery` sows the seeds of its own destruction." - in MoneyControl

Tickers: ProShares UltraShort 20+ Year Trea (ETF) (NYSE:TBT), iShares Barclays 20+ Yr Treas.Bond (ETF) (NYSE:TLT), iShares Russell 2000 Index (ETF) (NYSE:IWM), ProShares UltraShort QQQ (ETF) (NYSE:QID), SPDR Dow Jones Industrial Average ETF (NYSE:DIA), SPDR Gold ETF (GLD), IShares Silver ETF (SLV), SPDR S&P 500 Index ETF (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.

June 20, 2011

Video Market Update: Greece, QE3



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.

Labor And Capital Must Be Re-Allocated Away From Services Into Goods Production

“Labor and capital must be re-allocated away from services into goods production. That means jobs must be lost in government, retail sales, finance, health care, and education; and jobs must be created in technology, manufacturing, textiles, mining, energy, and agriculture. This guarantees major short-term pain.” - in End Game

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 19, 2011

The Quality Of Economic Data.

What does the government have to gain by giving the public phony unemployment figures?

The answer is obvious: They want you to think things are better than they really are. - in The Little Book of Bull Moves

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, 2011

The US Economy Is Weakening Even WIth Record Monetary And Fiscal Stimulus

If you look at the economic relapse that’s going on right now, look at Friday’s abysmal job numbers, look at the housing numbers, understand that all of this is taking place with record monetary and fiscal stimulus. What happens if we remove those supports? - in BeaconEquity

Related: ProShares UltraShort 20+ Year Trea (ETF) (NYSE:TBT), iShares Barclays 20+ Yr Treas.Bond (ETF) (NYSE:TLT), iShares Russell 2000 Index (ETF) (NYSE:IWM), ProShares UltraShort QQQ (ETF) (NYSE:QID), SPDR Dow Jones Industrial Average ETF (NYSE:DIA), SPDR Gold ETF (GLD), IShares Silver ETF (SLV), SPDR S&P 500 Index ETF (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.

June 16, 2011

Money Printing And The End Result

A nation can create money and the individual cannot. But the more money it prints, the less purchasing power the money will have. The end result is our nation will ultimately destroy its economy with inflation. - in The Little Book Of Bull Moves

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, 2011

The Economy Is Already Relapsing Into Recession Before The Fed Has Even Begun To Tighten

This time around, the stimulus-fueled recovery is so mild that the economy is already relapsing into recession before the Fed has even begun to tighten. - in Global Investor Newsletter

Tickers: ProShares UltraShort 20+ Year Trea (ETF) (TBT) iShares Barclays 20+ Yr Treas.Bond (ETF) (TLT) iShares Lehman 7-10 Yr Treas. Bond (ETF) (IEF), Powershares DB Base Metals Fund (ETF) (DBB), United States Oil Fund LP (ETF) (USO), ProShares UltraShort S&P500 (ETF) (SDS), SPDR S&P 500 ETF (SPY), iShares Russell 2000 Index (ETF) (IWM), ProShares UltraShort QQQ (ETF) (QID), SPDR Dow Jones Industrial Average ETF (DIA), iPath S&P 500 VIX Short-Term Futures ETN (NYSE:VXX), iShares MSCI Emerging Markets Indx (ETF) (EEM), PowerShares QQQ Trust, Series 1 (ETF) (QQQ)

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, 2011

The Parallel Between Drug Addiction And The Reliance On Economic Stimulus Is Just Too Strong To Ignore

Although I have made these comparisons before, the parallel between drug addiction and the reliance on economic stimulus is just too strong to ignore. And as with drug addition, an economy builds up a tolerance. Each time the government successively stimulates with printed money or deficit spending, ever larger doses are needed to achieve the same result. Lest we forget, coming into the Crash of 2008, the economy had been on the receiving end of years of over stimulus. President Bush and Alan Greenspan never fully weaned the economy of their shock treatments that followed the dot.com crash and the shock of September 11th.

This time around, the stimulus-fueled recovery is so mild that the economy is already relapsing into recession before the Fed has even begun to tighten. This puts Bernanke in a very difficult position. He either follows through on his loudly trumpeted plans to end quantitative easing this summer, or abandon those plans in favor of more stimulus. Both choices are unappealing. - in Europac Global Investor Newsletter

Tickers: ProShares UltraShort 20+ Year Trea (ETF) (TBT) iShares Barclays 20+ Yr Treas.Bond (ETF) (TLT) iShares Lehman 7-10 Yr Treas. Bond (ETF) (IEF), Powershares DB Base Metals Fund (ETF) (DBB), United States Oil Fund LP (ETF) (USO), ProShares UltraShort S&P500 (ETF) (SDS), SPDR S&P 500 ETF (SPY), iShares Russell 2000 Index (ETF) (IWM), ProShares UltraShort QQQ (ETF) (QID), SPDR Dow Jones Industrial Average ETF (DIA), iPath S&P 500 VIX Short-Term Futures ETN (NYSE:VXX), iShares MSCI Emerging Markets Indx (ETF) (EEM), PowerShares QQQ Trust, Series 1 (ETF) (QQQ)

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 13, 2011

Our Current Recovery Is The Weakest On Record, Despite The Biggest Jolt Of Government Stimulus Ever Administered

Economic data over the past weeks, punctuated by last week's dismal employment reports, confirm the diminishing impact of the stimulus efforts orchestrated by the Obama Administration and the Federal Reserve.

In what must be a huge disappointment to Keynesian enthusiasts, the record doses of both monetary and fiscal narcotics did not produce the desired results. In fact, the size and scope of the "recovery" of the past two years was weaker than would have been expected in a typical business cycle recovery without any stimulus whatsoever. Indeed our current recovery is the weakest on record, despite the biggest jolt of government stimulus ever administered. - in Europac Global Investor Newsletter

Tickers: ProShares UltraShort 20+ Year Trea (ETF) (TBT) iShares Barclays 20+ Yr Treas.Bond (ETF) (TLT) iShares Lehman 7-10 Yr Treas. Bond (ETF) (IEF), Powershares DB Base Metals Fund (ETF) (DBB), United States Oil Fund LP (ETF) (USO), ProShares UltraShort S&P500 (ETF) (SDS), SPDR S&P 500 ETF (SPY), iShares Russell 2000 Index (ETF) (IWM), ProShares UltraShort QQQ (ETF) (QID), SPDR Dow Jones Industrial Average ETF (DIA), iPath S&P 500 VIX Short-Term Futures ETN (NYSE:VXX), iShares MSCI Emerging Markets Indx (ETF) (EEM), PowerShares QQQ Trust, Series 1 (ETF) (QQQ)

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, 2011

The Stimulus Is Wearing Off And The Much Anticipated Hangover Is Starting To Set In

“The stimulus is wearing off and the much anticipated hangover is starting to set in. The economy is now in worse shape because the government stimulated it. The stimulus merely interfered with the corrective process.

So instead of resolving some of our economic imbalances, the government has made them worse. Now we are on the precipice of a bigger economic decline than the one the stimulus interrupted back in 2009.” - in King World News

Related: ProShares UltraShort S&P500 (ETF) (SDS), SPDR S&P 500 ETF (SPY), iShares Russell 2000 Index (ETF) (IWM), ProShares UltraShort QQQ (ETF) (QID), SPDR Dow Jones Industrial Average ETF (DIA), iPath S&P 500 VIX Short-Term Futures ETN (NYSE:VXX), iShares MSCI Emerging Markets Indx (ETF) (EEM), PowerShares QQQ Trust, Series 1 (ETF) (QQQ)

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 3, 2011

We Need A Gold Standard

“The only way to have a sound economy is to discipline the government, set a limit for deficit spending, and the way to do that is with a gold standard.” - in wallstcheatsheet.com

Tickers: SPDR Gold ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), Anglo Gold (AU), Goldcorp (GG), New Gold (NGD), Novagold (NG), Seabridge Gold, Inc. (USA) (AMEX:SA), Seabridge Gold Inc (TSE:SEA), Rubicon Minerals Corp. (TSE:RMX), Goldcorp Inc. (TSE:G), Kinross Gold Corporation (TSE:K), Yamana Gold Inc. (TSE:YRI), Yamana Gold Inc. (USA) (NYSE:AUY)

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, 2011

The US Dollar Is In Terminal Decline

My readers are familiar with my forecast that the US dollar is in terminal decline. America is tragically bankrupt, unable to pay its lenders without printing the dollars to do so, and enmeshed in an economic depression. The clock is ticking until the dollar faces a crisis of confidence like every other bubble before it. The key difference between this collapse and, say, the bursting of the housing bubble is that the US dollar is the backbone of the global economy. Its conflagration will leave a vacuum that needs to be filled.

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 Is Money And Nothing Else

As J.P. Morgan famously said to Congress in 1913, "gold is money and nothing else." Morgan meant that gold was unmatched in its effectiveness as a store of value and medium of exchange.

Given that his namesake bank started accepting physical gold bullion this past February as counterparty collateral, why should the trend of a widespread return to gold be considered only a remote possibility? On the contrary, it should be expected - if for no other reason than every other currency is fundamentally dismal.

Markets are powerful things, and require a reliable medium of exchange. The call for sound money is not just philosophical; it is derived from the market itself. Throughout human history, merchants have always turned to pure gold and silver over every pretender. This is not the first experiment in a paper money system, nor is it the first widespread debasement of money. In fact, the lessons of history were impressed upon our well-read Founding Fathers to the point that they included the following clear language in the Constitution: "No state shall... make any Thing but gold and silver Coin a Tender in Payment of Debts."

While it has always been possible that another fiat currency would rise up to take the dollar's place, and thereby keep this irrational experiment in valueless money going awhile longer, the particular circumstances that abound today make it seem less and less likely to me. Instead, I'm seeing signs that the world is moving back to gold at a breakneck speed.

This is a return to normal and has many positive implications for the global economy. It's certainly a trend we can all welcome, and profit from.

Tickers: PowerShares DB US Dollar Index Bullish (NYSE:UUP), PowerShares DB US Dollar Index Bearish (NYSE:UDN), IShares Silver ETF (SLV), SPDR Gold ETF (GLD), Hecla Mining (HL), Newmont Mining (NEM), Barrick Gold (ABX), Goldcorp (GG), Yamana Gold (AUY), Kinross Gold (KGC), Anglo Gold (AU), Gold Fields Limited (ADR) (GFI), Royal Gold, Inc. (RGLD), Coeur d'Alene Mines Corporation (CDE)

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.

Video Commentary: Market Sell Off


New Video Blog Posted: "Markets Swoon On Double Dip Fears"

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.

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