March 31, 2012

The Stress Tests: They Tested The Wrong Things


Related, Financial Select Sector SPDR (XLF), iShares Barclays 20+ Yr Treas.Bond ETF (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.

March 30, 2012

Video: If You Create Inflation, Prices Go Up


"If you create inflation, prices go up."

Related: United States Oil Fund (USO), 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.

March 29, 2012

We Are Going To Have Another Big One Coming Soon

I didn’t get lucky, I just understood the problem, and we are going to get another big one coming soon. - in Forbes, talking the 2008 crisis

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 Consume More Than We Produce

We consume more than we produce and we borrow abroad, but we are never going to be able to pay them back. - in Forbes

Related, iShares Barclays 20+ Yr Treasury Bond ETF (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.

March 28, 2012

Emerging Markets Outlook

I think you are going to see real growth in emerging markets as they are the fruits of their hard work and production. - in IB Times

Related, iShares MSCI Emerging Markets Index ETF (EEM)

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.

Problems Were Not Solved During The Crisis

All of the people who were 100 percent wrong back in 2008 are saying that everything’s OK now. I am telling them they didn’t solve the problem and are making it so much worse. - 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.

What Should Banking Stress Tests Really Test

The Fed didn’t ask the banks to stress test a big drop in the bond market because that’s what coming, and the banks would fail that. - in Forbes

Related, Citigroup (C), Bank Of AMerica (BAC), JP Morgan (JPM), 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.

March 27, 2012

The Federal Reserve Is The Biggest Enemy Of This Economy

The Fed is the biggest enemy of this economy. In fact, Ben Bernanke, as far as I’m concerned, he’s public enemy No. 1. We’re never going to have a recovery while this guy’s in charge. - in CNBC

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 Kill This Phony Economy

This whole phony economy the Fed has constructed with cheap money is going to come toppling down. But the reality is we have to kill this phony economy because it’s unsustainable. We need to replace it with a viable one but unfortunately to do that there’s a lot of short-term pain because we’ve got to unwind this bubble, and the Fed doesn’t want that to happen. - in CNBC

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 Stock Market Rally Is A Delusion Created By The Fed

The substance is inflation. It’s that the dollar we use to buy equities are losing value. This is not about the stock market going up. It isn’t going up. That’s a delusion created by the Fed. - in CNBC

Related, SPDR S&P 500 ETF (SPY), PowerShares QQQ Trust 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.

March 25, 2012

The Next Crisis

The next crisis is the bursting of the bond bubble, the collapsing of the bond market and soaring interest rates. - in CNBC

Related, ProShares UltraShort 20+ Year Treasuries ETF (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.

March 24, 2012

How An Economy Works

"You don’t drive an economy by consuming – the consumer is not the engine, the consumer is the caboose." - a famous quote, 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.

March 23, 2012

Gold, US Economy & Inflation


A recent CNBC video interview.

Related, 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.

March 22, 2012

The Importance Of Having Trade Surpluses

I pointed out that America had become an economic juggernaut in the 19th and 20th centuries on the back of our enormous trade surpluses, which allowed for growing wealth, a stronger currency, and greater economic power abroad. This is exactly what China is doing today. Deficits reverse these benefits. - in MoneyShow

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.

March 21, 2012

We Are Not Creating A More Competitive Economy

If the jobs that we have created over the last few years had been productive, our trade deficit would now be shrinking, not growing. But the opposite is happening. These jobs are being created by the expenditure of borrowed money, and are not helping to forge a newer, more competitive economy. - in MoneyShow

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.

March 19, 2012

Videoblog: The US Economy Is Not Recovering


Don't believe the hype - the U.S economy is not recovering, it's getting sicker.

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.

March 16, 2012

Video: Peter Schiff with Matt Welch (Reason Magazine Editor)


Peter Schiff with Matt Welch from the Reason Magazine Editor

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.

March 15, 2012

I Don’t Think Either The United States Or China Does Capitalism All That Well

First of all, I don’t think either the United States or China does capitalism all that well. America did capitalism a lot better in the 19th century than China does it now, but today, China does it better than we do. Though both countries have far too much government involvement in the economy, we have more. They’re Communists, supposedly, and we’re not, but our government screws up our economy more than the Chinese government screws up its. - in Slate

Related, iShares Russell 2000 Index ETF (IWM), iShares FTSE/Xinhua China 25 Index ETF (FXI)

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.

March 14, 2012

We Are Going To Have Our Own Sovereign Debt Problems

We are going to have our own sovereign debt problems, when the dollar is plunging, bond prices are plunging, interest rates are rising, there are no more bailouts...the Government is either forced to default on its debt and restructure or the Fed prints the dollar into a bolivian.. But either way, there is going to be a huge crisis. - in LR

Related, ProShares UltraShort 20+ Year Treasuries ETF (TBT), iShares Barclays 20+ Yr Treasury Bond ETF (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.

A Recent Radio Interview With Lew Rockwell


A Recent Radio Interview With Lew Rockwell.

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.

March 13, 2012

The Recession Should Have Forced Us To Address The Trade Deficit Problem

The recession should have forced us to address the problem of persistent and enormous trade deficits. We have utterly failed to do this. So while the job numbers look good for now, there should be thin confidence that the pattern is sustainable. - in LR

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.

March 12, 2012

We Are Not Adding The kind Of Jobs That Will Put Us On A Sustainable Path

Today the Labor Department reported that 227,000 new jobs were added in February, representing the third consecutive month of job creation. Many observers have taken the report as clear evidence that the economic recovery has taken hold in earnest. However a second data set, also issued today, throws significant amounts of cold water on that assumption.

The Commerce Department reported that, after surging for much of the last year, the U.S. trade deficit expanded by $4.3 billion in January to $52.6 billion. This is the largest monthly trade gap since October 2008, and it comes with record imports. So in terms of trade, the U.S. is in exactly the same position we were during the opening act of the financial crisis.

While it may be true that we are adding jobs, it is also true that we are not adding the kinds of jobs that will put us on a sustainable path. Large and persistent trade deficits were a primary reason that the U.S. economy imploded in the first place. If we fail to build an economy that can pay for imports with an equal number of exports, we will simply revisit the pain of last few years. - in Lew Rockwell

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.

March 11, 2012

This Level Of Taxation Puts American Corporations At A Noticeable Disadvantage

This level of taxation puts American corporations at a noticeable disadvantage vis-a-vis companies in the countries against which we are most keenly competing. - in IB Times

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.

March 10, 2012

How An Economy Works

"You don’t drive an economy by consuming – the consumer is not the engine, the consumer is the caboose." - 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.

March 8, 2012

The Trouble With America's System Of Double Taxation

The purpose of a corporation is to generate profits for owners (all other functions are secondary to this goal). Public corporations distribute these profits through dividends. But as a result of America's system of double taxation, where income is taxed on the corporate level and then again on the personal level, government receives a much bigger share of corporate income than the owners themselves. - in Investment News

Related, iShares Russell 2000 Index ETF (IWM)

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.

Our Government Collects A Portion Of Industrial Output That Would Inspire Envy In The Most Rabid Bolshevik

The communist revolutions in the 20th century sought to nationalize the wealth generated by privately held industries back to the "exploited" workers on whose backs the profits were supposedly derived.

America has made the rejection of this idea and its support of free market principles the centerpiece of its economic narrative. However, as a result of our current and proposed tax policies towards corporate shareholders, our government collects a portion of industrial output that would inspire envy in even the most rabid Bolshevik. - in Townhall Finance

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.

March 7, 2012

Gold Prices Will Only Go Down When...

Gold prices will only go down when governments change course and make significant cuts. Until then, gold is not in a bubble. It's the only way to protect your wealth; and in the current economic condition, it's poised to go much higher. - an excerpt from "Why Warren Buffett is wrong about gold"

Related, SPDR Gold Trust 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.

The Fiat System Artificially Balloons The Financial Services Portion Of The Economy

Also, the fiat system artificially balloons the financial services portion of the economy. In the 19th century, fortunes were made more often by business owners than simple equity investors. People were more likely to rewarded for providing a productive service than having direct access to the Fed's discount window. - in Investment News

Related, Financial Select Sector SPDR (ETF)(NYSEARCA:XLF), Bank Of America (BAC), JP Morgan (JPM), Citigroup (C)

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 Value Of The Dollar Has Fallen 86% Since Buffett Took Over Berkshire Hathaway

If Buffett were a true capitalist, he would be in favor of gold. He has noted that the value of the dollar has fallen 86 percent since he took over Berkshire Hathaway in 1965 and even said in his latest shareholder letter that investors are "right to be fearful of paper money." But he continues to harp on gold. It seems the only unit of account Mr. Buffett approves are shares of his own company! - in Investment News

Related, SPDR Gold Trust ETF (GLD), Berkshire Hathaway Inc. (NYSE:BRK.A)

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.

March 6, 2012

Gold Update & Warren Buffett Headlines

Gold started strong in February with news that the eurozone would relent and start the printing presses to bail out Greece again, yet the yellow metal finished lower as Fed Chairman Bernanke threw investors off the scent of QE3. Many investors seem to be numb to the inflation already created and are waiting for even more as a signal to buy gold. That means it's a good time to buy for those who know that inflation is coming.

Gold settled at $1,770 as February closed, after touching a high of $1,783, yielding a 1.72% gain for the month. It has since corrected to $1,705 on misplaced optimism for economic recovery. Silver peaked at $37.23 to close out the month, a 10 percent increase, but has since dropped to $34.11 in the early days March. Again, I think this dip will be temporary.

Warren Buffett continues to make headlines in opposition to gold and in favor of punitive taxes on the wealthy. In my commentary, I take a closer look at Buffett's worldview. Is he an impartial sage looking out for the best interests of his fellow citizens, or is he really looking for his next government handout? - in Europac

Related, SPDR Gold Trust ETF (GLD), Newmont Mining (NEM), 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.

March 5, 2012

U.S. Corporate Taxes: Freedom or Fascism? You Decide.


The Schiff Report: An analysis of the corporate tax rates.
March 2, 2012

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.

March 4, 2012

We Need Higher Interest Rates To Clear Out The Mess

We're going to have to swallow some bitter-tasting medicine in the form of higher interest rates if you're going to clear out the mess. - in MoneyNews

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.

March 3, 2012

The Federal Reserve Wants To Create Inflation

If you actually look at what the Fed is doing, they're doing QE3 (quantitative easing) whether they state it or not.

If it admits that it's printing all this money, then the dollar is going to fall even faster, oil prices are going to rise faster. The Fed wants to create inflation. It just doesn't want to be forthright about it. - in MoneyNews

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.