September 30, 2011

Australian Dollar & New Zealand Dollar Outlook

In the short-term, I agree with Axel that the New Zealand dollar may rise faster. The Reserve Bank of New Zealand is going to have to start raising rates. The political winds are blowing in the right direction there – you’ve got the National Party firmly in charge – but you know that can change in a few years. The NZ Labour Party, when they come to power, has the potential to do some stupid things to undermine progress. I think that conservative forces have a better chance of holding on for the long term in Australia than in New Zealand. I like that kind of consistency.

Further, the balance of payments situation in Australia is more favorable, and I expect that they are going to benefit more from rising commodity prices than New Zealand.

New Zealand is strong in agriculture, but the Aussie dollar has much more exposure to raw materials, mining, and energy. The trends that I forecast in those commodities should bode well for the balance of trade in Australia and for its currency.

Plus, Australia already has higher interest rates than New Zealand; so, you start off by getting a higher return when you own the Aussie dollar because you’re getting paid more. - Five Favorite Currencies for the Next Five Years research report

Tickers: AUDUSD forex, NZDUSD forex, CurrencyShares Australian Dollar Trust (NYSE:FXA),

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.

Five Favorite Currencies for the Next Five Years

Anyone who listens to my economic analysis has long known that I don't see a bright future for the US dollar. But knowing where not to invest is only half the battle. More important is knowing which markets are on the rise with sound footing.

The only way to stay ahead of the curve is to research deeply and keep the lines of dialogue open with other investors you respect. That's why I recently sat down with my good friend Axel Merk, the founder and owner of Merk Investments, which manages a group of mutual funds that specializes in foreign currencies. Our conversation has been compiled in a new report entitled Peter Schiff's and Axel Merk's Five Favorite Currencies for the Next Five Years, which is now available for free download.

In the report, Axel and I take a broad look at the global economy and then zoom in on individual national economies we favor. While we share a devotion to hard money "Austrian" economics, our individual investment styles yield some interesting points of departure. We contrast our views on such potential "safe haven" currencies as the Swiss franc, Norwegian krone, Singapore dollar, and Australian dollar. We discuss in detail the potential for a collapse - or resurgence - of the struggling euro. And, of course, we evaluate the future prospects for the still highly managed Chinese renminbi, whose peg against the US dollar has been one of the dominant factors in the global economy. Along the way, we discuss other currencies before finally settling on our respective "five favorites." - in europac.net

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, 2011

Special Interests On Wall Street

“The very special interests on Wall Street, the insurance industry. These are the people who are writing the laws that Obama is passing. They are keeping him in power, they are the ones that have financed his campaign and the laws are being written for their benefit.” - in RT.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 28, 2011

Bigger Budget Deficits Sap The Economy Of Vitality, Destroying Jobs In The Process

Despite the understandable human tendency to help others, government spending cannot be a net creator of jobs. Indeed many efforts currently under consideration by the Administration and Congress will actively destroy jobs. These initiatives must stop. While it is easy to see how a deficit-financed government program can lead to the creation of a specific job, it is much harder to see how other jobs are destroyed by the diversion of capital and resources. It is also difficult to see how the bigger budget deficits sap the economy of vitality, destroying jobs in the process.

In a free market jobs are created by profit seeking businesses with access to capital. Unfortunately Government taxes and regulation diminish profits, and deficit spending and artificially low interest rates inhibit capital formation. As a result unemployment remains high, and will likely continue to rise until policies are reversed. - in Forbes

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: State Of The Gold Market


State Of The Gold Market, September 26.

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, 2011

Every Sharp Decline Has Shown Itself To Be An Opportunity Rather Than A Warning

The recent sharp decline in gold and silver prices may be panicking buyers, especially those who are new to the market. However, I have been actively accumulating precious metals for more than a decade, and from my perspective, given the volatile nature of metals, this type of action is par for the course. In my experience, every sharp decline has shown itself to be an opportunity rather than a warning. - in europac.net

Related 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.

Most Individual Investors Buy At The Wrong Time

But my message today is for you to consider taking advantage of this drop in metals prices. Most individual investors buy at the wrong time... on the way up, not on the way down. I firmly believe that gold and silver prices are going much higher.

If you have been waiting for the right time to add to your account, or make your initial precious metals purchase, it is now. - in europac.net

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.

Precious Metals: This Leaner Market Presents A Great Buying Opportunity

The metals have been on a tear for the past few years. Because of this, investors and speculators that do not understand the fundamentals appear to have joined the bull run, and then quickly departed at the first sign of trouble. Good riddance to them, I say. While sharp declines do test the mettle of some value investors, I believe this leaner market presents a great buying opportunity. - in europac.net

Related: IShares Silver ETF (SLV); SPDR Gold Trust 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.

September 26, 2011

CNBC Video: Politics, Gold & 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.

The Market Will Continue To Fall Until The Federal Reserve Gives The Market What It Wants



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.

Low Interest Rates Are Part Of The Problem, Not Part Of The Solution

From my perspective, the Twist really amounts to another Fed "Hail Mary" pass that will fall short of the end zone. But, by putting the squeeze on banks and further restricting credit availability to small business the move will likely do more harm than good.

The policy rests on the false premise moving already historically low interest rates even lower will stimulate the economy into recovery. But low interest rates are part of the problem, not part of the solution.

Even by the government's debased standards, trailing headline inflation is already hovering above 4 percent, and, at current rates, 30-year Treasuries are negative by 100 basis points. This distortion is inflicting untold damage on the economy. Pushing rates further into negative territory seems only to invite more problems in the future.

Tickers, iShares Barclays 20+ Yr Treas.Bond ETF (NYSE:TLT), ProShares UltraShort 20+ Year Trea ETF (NYSE:TBT)

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, 2011

People Are Selling Gold Because They Are Selling Everyting

People are selling gold because they're selling everything but i think it's a mistake to sell gold just like it's a mistake to buy dollars or treasuries. - in CNBC.com

ETFs: SPDR Gold ETF (GLD), Newmont Mining (NEM), 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.

September 24, 2011

All The Banks That Got Bailed Out Will Fail Without More Money Printing

There is no real political will to do the right thing. As I said, I think the Federal Reserve is going to do QE3. if it doesn't we'll have to do TARP 2...all these banks are going to fail. All the banks that got bailed out will fail without more money printing. that is going to send gold a lot higher. - in CNBC

Related: Bank Of America (BAC), JP Morgan (JPM), Morgan Stanley (MS), Citigroup (C), Wells Fargo (WFC)

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, 2011

CNBC Video Interview: US Stocks, Banks, Gold & Silver


Peter Schiff, Euro Pacific Capital, and Zach Karabell, Rivertwice Research, discuss whether the US ever escaped its recession and if it's now in a depression.

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.

One Of The Most Anti-Poor People Rules Is The Minimum Wage

One of the most anti-poor people rules is the minimum wage. It keeps people poor. What the minimum wage does is says that if a person that has very little skills, and generally they're young or they're poor, you can't hire them unless they can produce $7.25 worth of value, but it's not just that. It also has to compensate you for all the mandatory benefits and taxes and risks associated with hiring people. - in Fox 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 22, 2011

Operation Twist Will Really Hurt


Latest video market update - "Operation Twist Will Really Hurt"

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, 2011

As The Stimulus Is Wearing Off, The Recession Is Resuming With A Vengeance

We are in a depression in the United States, but the depression was interrupted by some economic stimulus that actually made the problems worse and now as the stimulus is wearing off, the recession/depression is resuming with a vengeance.

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 Source Of Our Misery

Hopefully we will finally understand the source of our misery is government and that the solution is free markets. - in Reason TV video interview

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.

We Have To Cut Spending

We have to cut $1.5 trillion out of this year's budget. The only way out of this mess, is for the government to get out of the way and let the inevitable market correction occur. It would be painful to cut spending by that degree, but not nearly as painful as it's going to be if we don't cut spending by that degree. - in Reason TV

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 20, 2011

The Government Has Made It Expensive And Risky To Hire People


“The government has made it so expensive and so risky to hire people that most small businesses are doing everything they can to avoid hiring people" - 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 19, 2011

The Dismal Future of the U.S. Economy


The Dismal Future of the U.S. Economy: a Reason TV video.

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, 2011

A Thought On Job Growth

"You can always see the jobs that government creates. What you don't see are the jobs that they destroy." - 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.

September 16, 2011

Video: Testimony Before Congress On Jobs Committee

Video 1


Video 2

Peter Schiff testifies before Congress on the economy.

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 14, 2011

What Grows An Economy? Savings & Investment Not Spending.

It is my belief that a dollar of deficit spending does more damage to job creation than a dollar of taxes. That is because taxes (particularly those targeting the middle or lower income groups) have their greatest impact on spending, while deficits more directly impact savings and investment. Contrary to the beliefs held by many professional economists spending does not make an economy grow. Savings and investment are far more determinative. Any program that diverts capital into consumption and away from savings and investment will diminish future economic growth and job creation. - in Forbes.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.

Government Spending Cannot Be A Net Creator Of Jobs

Despite the understandable human tendency to help others, government spending cannot be a net creator of jobs. Indeed many efforts currently under consideration by the Administration and Congress will actively destroy jobs. These initiatives must stop. While it is easy to see how a deficit-financed government program can lead to the creation of a specific job, it is much harder to see how other jobs are destroyed by the diversion of capital and resources. It is also difficult to see how the bigger budget deficits sap the economy of vitality, destroying jobs in the process.

In a free market jobs are created by profit seeking businesses with access to capital. Unfortunately Government taxes and regulation diminish profits, and deficit spending and artificially low interest rates inhibit capital formation. As a result unemployment remains high, and will likely continue to rise until policies are reversed. - in Forbes

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, 2011

Bonds Are In Bubble Territory

Bonds are in bubble territory, dependant on purchases from central banks and speculators who flip them like condos. - in CBS MarkwtWatch

Tickers: 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.

September 12, 2011

Reaction to Obama Jobs (aka Stimulus) Speech


Video Topics: Why the Job Stimulus package will not work.

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, 2011

The Good Thing For Gold Is That Most People Don’t Own Any Yet

The good thing for gold is that most people don’t own any yet. Right now there are very few people who own it relative to all of the people who are going to own it eventually. The problem is the longer people wait to buy it, the more expensive it’s going to be.

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

September 8, 2011

President`s Speech On Jobs: Maybe If...

Maybe if (President Barack Obama) made this a resignation speech, that would help. - in Fox Business

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, 2011

I Believe That We Have Been In One Giant Recession All Along

I believe that we have been in one giant recession all along that was only temporarily interrupted by trillions of useless and destructive deficit and stimulus spending. Unfortunately, the August numbers will increase the talk of government efforts to stimulate the economy.

But while President Obama prepares to unveil a new plan for the Federal Government to create jobs, evidence is rapidly piling up on how his Administration is actively destroying jobs with stunning efficiency. Recent examples of this trend are enough to make anyone with even a casual respect for America’s former economic prowess hang their head in disgust. - in Europac.net

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 6, 2011

Video Market Update: Jobs Report, Gold & Treasuries


Topics: jobs report, Obama on jobs, gold market outlook, U.S. treasuries outlook;

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 5, 2011

Dow Jones Industrials Measured In Ounces Of Gold

Eleven years ago the Dow Jones was worth 43 ounces of gold. Now is not even worth seven. - in Fox Business News

Topics: SPDR Gold ETF (GLD), SPDR Dow Jones Industrial Average ETF (NYSE:DIA)

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.

Fox Business News: Video Interview, September 2011


Discussing September market outlook.

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 3, 2011

Money Printing Is Not The Solution. Its The Problem.

The reason we are headed back to recession is because the Fed did QE2. Money printing is not the solution to our problems, its the source of our problem. - in RT.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 2, 2011

The Complicating Factor Is That Silver Is Both A Precious Metal And An Industrial Metal

Wow, what a month it's been. Of all the options I outline in my last commentary, Congress chose "Bullish Gold Case #2:" they raised the debt ceiling without any significant cuts to federal spending. This agreement sparked not only a downgrade of US credit by S&P, but also an immediate rush into gold that brought the yellow metal's average comfortably above $1750 mark, and saw it breach $1900.

Silver held around $40 after making up its losses from the summer doldrums last month. I think it is well-priced at that level and will likely see gains as we head into the autumn buying season. The complicating factor is that silver is both a precious metal and an industrial metal. Therefore, in times of panic, silver tends to underperform gold. Its just a matter of time until investors realize that emerging markets are going to keep growing without the US and Europe to consume their goods. - in Schiff`s Gold Report

Related: IShares Silver ETF (SLV), Hecla Mining (HL), Silver Wheaton (SLW), SPDR Gold Trust 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.

RT Video Interview: Quantitative Uneasing


On Friday new numbers are going reveal what is occurring in the employment sector, but many economists say the outlook is grim. The unemployment still lingers at around nine percent and Congress has fallen short of creating jobs for many Americans. The Federal Reserve is believed to step in again with more quantitative easing, but is this really the solution to the US' economic problems? Peter Schiff, president at Euro Pacific Capital, will help answer some questions.

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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