August 31, 2011

Fiat Currencies Can Be Created At Will In Infinite Quantities

So the demand for gold is going to expand as more and more people wake up to this reality and discover that gold is the only safe haven. The fiat currencies can be created at will in infinite quantities. - in Beacon Equity

Related tickers: SPDR Gold Trust (ETF) (NYSE:GLD), Market Vectors Etf Trust (NYSE:GDX), Newmont Mining (NEM), Novagold (NG), Barrick Gold (ABX), Goldcorp (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.

August 30, 2011

Silver Will Eventually Break Through 50 USD

If you look at silver around this 40 dollar level, it’s still hanging on to a lot of its gains and I do believe that it will rebuild and make another assault at that 50 dollar mark and eventually it will just bust through it. - in Beacon Equity

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.

August 29, 2011

The Dollar Is Ready To Break Down Further

"I think the dollar's ready to break down further. Every time the punch is running low, he's there to spike it." -in the WSJ

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.

August 26, 2011

Recession: It’s A 100 Percent Chance

It’s a 100 percent chance. In fact the recession might have already started. - www.moneycontrol.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.

August 25, 2011

The Only Industry Where Over The Last Couple Of Months Where You Can Really Say The Fundamentals Have Dramatically Improved Is The Gold Mining Industry

These stocks represent a lot of value. I think we have a long away to go. (...) I think the only industry where over the last couple of months where you can really say the fundamentals have dramatically improved is the gold mining industry. During that time period the mining costs have come down yet the value of what they are mining has skyrocketed. These mining stocks are as cheap as they have ever been over the last 10 years as far as P/E basis.

These gold stocks have barely moved and nobody owns them.

Related ETFs & stocks: SPDR Gold Trust (ETF) (NYSE:GLD), Market Vectors Etf Trust (NYSE:GDX), Newmont Mining (NEM), Novagold (NG), Barrick Gold (ABX), Goldcorp (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.

August 24, 2011

Making Money Is Controversial? Ron Paul's Profitable Portfolio


Latest video market update: "Making Money Is Controversial? Ron Paul's Profitable Portfolio."

Topics: gold, gold 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.

August 22, 2011

No Ceiling For The Price Of Gold


Video description: Peter Schiff says gold is more than just another precious metal. According to the president of Euro Pacific Capital, gold is a thermometer for the economy. And with gold prices at a high of $1851 an ounce, the economy isn't getting any healthier.

"Gold going up every day is saying that the economy is sick. It's really, really sick," Schiff told RT. Yet, he added, world leaders are ignoring the surge in gold prices as if the increase wasn't telling them something.

As central banks continue to print money while currencies devalue day by day, Schiff said owning gold is a safe haven. Some say treasuries are a safe haven, but Schiff asks, "What is it a safe haven from?" Gold, he said, is an alternative to owning currencies like the US dollar, the euro and the yen, which he said are being created too quickly and in too much quantity.

"I keep hearing people on television saying people aren't buying gold because of inflation," saudSchiff. "Gold is a safe haven from inflation."

Schiff noted that many are still skeptical of buying into gold, citing widespread fear of a bubble ready to pop. He believes, however, that prices are only going to be higher. Schiff said he was right about this before and he is right about this now.

Schiff told RT that the only thing people have to worry about is the devalue of currencies, which continue to go down in value while gold only goes up. "It's not a bubble because gold is not going up," said Schiff. It's paper currency, according to him, that's just losing value. "Gold is simply letting you know that it's occurring."

"Most people would accept gold in exchange for goods," he said. "Gold is money; it's recognized around the world."

And according to Schiff, people need to realize it before it's too late.

Related: Related ETFs & stocks: SPDR Gold Trust (ETF) (NYSE:GLD), iShares Silver Trust (ETF) (NYSE:SLV), Market Vectors Etf Trust (NYSE:GDX), Newmont Mining (NEM), Novagold (NG), Barrick Gold (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.

Video Market Update: Stocks, US Treasuries


Latest video blog from Peter Schiff.

Topics: stock market correction, 10 year treasury yields and 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.

August 21, 2011

How Can The US Hold AA+ And China AA-?

Why is China, the world’s biggest creditor nation — we owe China trillions — how could they be rated AA-, and we’re rated AA+? What kind of twilight world is the world’s biggest debtor a bigger risk than world’s biggest creditor? - in Beacon Equity

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.

August 20, 2011

The Reality Is That We Are Going Back To Recession

The reality is that we are going back to recession. So you take all those rosy scenarios and throw them in the trash can where they belong. The budget deficit is going to be much worse than both the Administration and S&P believe. So they’re all wrong on the math. - in Max Keiser Report

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.

August 19, 2011

In Wall Street Parlance Any Downgrade Means Get The Hell Out

In Wall Street parlance, any downgrade means get the hell out... If the rating agencies go from a Strong Buy to a Buy, it means, you know, look out below.

What S&P is saying, as far as I’m concerned, is get out of U.S. debt, any dollar-denominated debt, because what they’re really downgrading is not Treasury bonds, but the dollar. - in www.beaconequity.com

Related: ProShares UltraShort 20+ Year Trea (ETF) (NYSE:TBT), iShares Barclays 20+ Yr Treas.Bond (ETF) (NYSE:TLT), iShares Lehman 7-10 Yr Treas. Bond (ETF) (NYSE:IEF)

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.

August 18, 2011

The Worst Is Yet To Come For The Markets & Economy


Peter Schiff video interview on Fox Business News.

"The only way to create jobs is to get the Goverment out of the way." - 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.

August 16, 2011

Gold Is Going To Go Higher Because People Want Refuge

Well it’s going to continue, gold is going to go higher because people want refuge. In fact the other safe havens in the currency world, like the Swiss Franc or the Yen, the central banks there are trying to undermine their currencies.

I mean the Swiss are actually thinking about pegging their currency to the euro. One of the reasons people were buying the Swiss Franc was to get out of the euro. Now they are threatening to turn the Swiss Franc into the euro. So what’s the one asset that central banks can’t print? That’s gold and so gold is the last man standing and everybody is going to be piling into it. - in KWN

Related: SPDR Gold ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), Novagold (NG), Goldcorp (GG), Anglogold (AU), New Gold (NGD), Freeport McMoran (FCX)

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.

New York Times Breaking News: Superhero Paul Krugman Saves World from Imaginary Alien


Topics: Inflation, printing money, Paul Krugman, WWII

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.

August 15, 2011

Reckless Policy Is Destroying The US Economy

This reckless policy, designed to facilitate government spending and appease Wall Street financiers, will continue to starve Main Street of the capital it needs to make real productivity-enhancing investments. American investment capital will continue to flow abroad, denying local business the means to expand and hire. It also destroys interest rates paid to holders of bank savings deposits which traditionally had been a financial pillar of retirees. In addition, such an inflationary policy drives real wages lower, robbing Americans of their purchasing power. The consequence is a dollar in free-fall, dragging down with it the standard of living of average Americans.

Until interest rates are allowed to rise to appropriate levels, more resources will be misallocated, additional jobs will be lost, government spending and deficits will continue to grow, the dollar will keep falling, consumer prices will keep rising, and the government will keep blaming our problems on external factors beyond its control. As the old adage goes, "insanity is doing the same thing over and over again and expecting different results."

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.

Americans Borrow, Consume, And Speculate Too Much, While Save, Produce, And Invest Too Little

This week's wild actions on Wall Street should serve as a stark reminder that few investors have any clue as to what is really going on beneath the surface of America's troubled economy. But this week did bring startling clarity on at least one front. In its August policy statement the Federal Reserve took the highly unusual step of putting a specific time frame for the continuation of its near zero interest rate policy.

Moving past the previously uncertain pronouncements that they would "keep interest rates low for an extended period," the Fed now tells us that rates will not budge from rock bottom for at least two years. Although the markets rallied on the news (at least for a few minutes) in reality the policy will inflict untold harm on the U.S. economy. The move was so dangerous and misguided that three members of the Fed's Open Market Committee actually voted against it. This level of dissent within the Fed hasn't been seen for years.

Many economists have short-sightedly concluded that ultra low interest rates are a sure fire way to spur economic growth. The easier and cheaper it is to borrow, they argue, the more likely business and consumers are to spend. And because spending spurs growth, in their calculation, low rates are always good. But, as is typical, they have it backwards.

I believe that ultra-low interest rates are among the biggest impediments currently preventing genuine economic growth in the US economy. By committing to keep them near zero for the next two years, the Fed has actually lengthened the time Americans will now have to wait before a real recovery begins. Low rates are the root cause of the misallocation of resources that define the modern American economy. As a direct result, Americans borrow, consume, and speculate too much, while we save, produce, and invest too little.

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.

August 12, 2011

Pegging The Swiss Franc To The Euro Is Not A Good Idea

By pegging the swiss franc to the euro, Switzerland would repeat the mistake that China has made by pegging the Yuan to the dollar. - in The WSJ.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.

August 11, 2011

Ultra-Low Interest Rates Are Among The Biggest Impediments Currently Preventing Genuine Economic Growth In The U.S. Economy

Ultra-low interest rates are among the biggest impediments currently preventing genuine economic growth in the U.S. economy.

By committing to keeping them near zero for the next two years, the Fed has actually lengthened the time Americans will now have to wait before a real recovery begins. Artificially low interest rates are the root cause of the misallocation of resources that define the modern American economy. As a direct result, Americans borrow, consume, and speculate too much, while we save, produce, and invest too little.

This reckless policy, designed to facilitate government spending and appease Wall Street financiers, will continue to starve Main Street of the capital it needs to make real productivity-enhancing investments.

American investment capital will continue to flow abroad, denying local business the means to expand and hire. In addition, such an inflationary policy drives real wages lower, robbing Americans of their purchasing power. The consequence is a dollar in free-fall, dragging down with it the standard of living of average Americans.

Until interest rates are allowed to rise to appropriate levels, more resources will be misallocated, additional jobs will be lost, government spending and deficits will continue to grow, the dollar will keep falling, consumer prices will keep rising, and the government will keep blaming our problems on external factors beyond its control.

As the old adage goes, "insanity is doing the same thing over and over again and expecting different results."

Related: ProShares UltraShort S&P500 (ETF) (NYSE:SDS), PowerShares QQQ Trust, Series 1 (ETF) (NASDAQ:QQQ), ProShares UltraShort QQQ (ETF) (NYSE:QID), SPDR S&P 500 ETF (NYSE:SPY), SPDR Gold Trust (ETF) (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.

August 10, 2011

Video Interview: FOMC Announcement Reaction

More audio at MyNorthwest.com
Latest video interview on mynorthwest.com

Topics: US Debt downgrade, Federal Reserve (FOMC Statement);

Related ETFs: Tickers: SPDR Gold 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.

August 9, 2011

The Tipping Point

The disastrous debt deal in Washington, the subsequent downgrading of U.S. credit, and continuing default fears on both sides of the Atlantic, are causing the kind of panic on Wall Street that we haven't seen since the dark days of 2008. As we arrive at what may be a tipping point in the global economy, it's important to look at what is really happening, recognize the financial consequences, and to take steps to insure that investment assets are positioned accordingly.

While the historic downgrade of U.S. debt is certainly a major event, the real story is the continued failure of the U.S. economy to recover from recession. From March 2009 to July 2011, the Dow Jones had surged more than 90% on the assumption that the economic crisis was a thing of the past. Euro Pacific Capital always argued otherwise. It is now dawning on investors and economists that the massive monetary stimulus only resulted in the illusion of health, while delivering in exchange a depreciated currency, crushing debt, and a moribund private sector. But this will not stop Washington from doing more damage with the same policies that hurt us in the first place. As a result, Americans looking for safety will not find it by holding cash. Any U.S. dollars currently stuffed into mattresses will, in a few years, likely be worth less than the mattresses themselves.

As may have been expected, the majority of investment professionals are reacting perversely to the crisis. On the day after the first ever downgrade was issued on American government debt, investors reacted by igniting one of the biggest rallies in the history of the treasury market. Such an illogical reaction suggests that investments of better value and fundamentals continue to be overlooked.

I see many places to find shelter from the growing economic storm. While media attention is focused on weakness in the Euro, other currencies are doing quite well against the dollar. Over the last 12 months, the Australian dollar is up 12.6%, and the Swiss franc is up 37%. I believe investments that produce reliable income denominated in these, and other, currencies offer meaningful protection from declines in the U.S. dollar. Assets such as non-dollar sovereign bonds, utilities, and real estate trusts all offer these traits. Gold, which I consider to be the only real money, is up 41% so far this year and today had its biggest one day gain in history. I believe that in the current environment exposure to precious metals offers the best way to preserve wealth.

Related ETFs & stocks: SPDR Gold Trust (ETF) (NYSE:GLD), iShares Silver Trust (ETF) (NYSE:SLV), Market Vectors Etf Trust (NYSE:GDX), Newmont Mining (NEM), Novagold (NG), Barrick Gold (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.

August 8, 2011

Yen & Swiss Franc Interventions: They Will Not Be Able To Stop Appreciation Of The Currencies

Japan and Switzerland can do all they want to slow appreciation, but they will not be able to stop it. - in Reuters

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.

August 7, 2011

AA+ Rating On U.S. Sovereign Debt Is Not Low Enough


Schiff Report Video Blog August 6th 2011: On Friday evening August 5th Standard & Poor's downgraded U.S sovereign debt from AAA to AA+ with a negative outlook. By raising the debt ceiling Congress and Obama had hoped to avoid a downgrade. Ironically it was their very actions that caused the downgrade to happen.

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 Interview On BBC Newsnight


Video interview on BBC Newsnight, August 4.

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.

August 6, 2011

We Are Not Going To Have Growth, We Will Have Inflation

"We're not going to have growth in the United States at all were going to have inflation" - in BBC

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.

August 5, 2011

We're On A Collision Course For Disaster

The Depression in the wake of the financial crisis was temporarily interrupted by a bunch of stimulus which ultimately weakened the economy further.

We're on a collision course for disaster. All we can do, all your viewers can do is brace for impact...Buy gold. Buy silver... Get as far away as you can from U.S. currency and the U.S. economy. - in Yahoo Finance

Related: IShares Silver ETF (SLV), SPDR Gold ETF (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.

August 4, 2011

The Dow Jones Index - Gold Ratio

"If you look at the value of U.S. stocks in terms of gold, the Dow peaked in 2000 at about 43 ounces. We're now at barely 7 ounces of gold for the Dow [7 x $1650 = 11,550]. Ultimately, I think we see that ratio come down closer to 1 to 1." -. in Yahoo Finance

Ticker, SPDR Gold ETF (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.

The Cost of Government Is Going To Be Born By Those Foolish Enough To Hold U.S. Currency

Unfortunately, because we raised the debt ceiling, because we continue to spend money, the cost of government is going to be born by those foolish enough to hold U.S. currency. - in Yahoo Finance

Tickers: SPDR Gold 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.

August 3, 2011

Central Banks Should Sell Dollars And Buy Gold

All central banks need to be getting rid of dollars and buying gold.

Related: SPDR Gold ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), Novagold (NG)

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.

August 2, 2011

The Real Crisis Is Not The Debt Ceiling. The Crisis Is The Debt Itself.

By supposedly compromising to raise the debt ceiling, Congress and the President have now paved the way for ever higher levels of federal spending. Although, the nation was spared the trauma of borrowing restrictions, the actual risk of default existed solely in the minds of Washington politicians. But the real crisis is not, nor has it ever been, the debt ceiling. The crisis is the debt itself.

Tickers, SPDR Gold 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.

August 1, 2011

Means For The Government To Deal With This Intractable Crisis

"Besides default or major cuts to domestic spending, inflation provides the only other means for the government to deal with this intractable crisis.” - in CNBC

Tickers: ProShares UltraShort S&P500 (ETF) (NYSE:SDS), PowerShares QQQ Trust, Series 1 (ETF) (NASDAQ:QQQ), ProShares UltraShort QQQ (ETF) (NYSE:QID), SPDR S&P 500 ETF (NYSE:SPY), SPDR Gold Trust (ETF) (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.

Why Are US Treasuries Rallying?

Treasuries are rallying because the economy is slowing and because nobody believes that there is going to be a default. - in Schiff`s VideoBlog

Related: iShares Lehman 7-10 Yr Treas. Bond (ETF) (NYSE:IEF), ProShares UltraShort 20+ Year Trea (ETF) (NYSE:TBT), iShares Barclays 20+ Yr Treas.Bond (ETF) (NYSE:TLT)

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.

Debt Ceiling Theatrics, U.S. Economy Back in Recession


Video: Debt Ceiling Theatrics, U.S. Economy Back in Recession

Tickers: ProShares UltraShort S&P500 (ETF) (NYSE:SDS), PowerShares QQQ Trust, Series 1 (ETF) (NASDAQ:QQQ), ProShares UltraShort QQQ (ETF) (NYSE:QID), SPDR S&P 500 ETF (NYSE:SPY), SPDR Gold Trust (ETF) (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.

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