May 31, 2012

Analogy: Facebook & The US Economy

We’re like Facebook (FB). Everyone thinks we’re great, but the more they look, the more they don’t like. - in The AdvisorOne 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.

Look At The Increase In Contingency Liabilities In Just The Past Year

If you look at the increase in contingency liabilities in just the past year with government pensions, social security and mortgage obligations, the true amount of the increase in the debt is not $1.4 trillion, rather $5 trillion. And remember, that’s only from government pensions, social security and mortgage obligations, not any of the other unfunded obligations. - in Advisor One 


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.

May 30, 2012

Sovereign Debt Crisis

The worst that can probably happen in the short run, if you're trying to keep the bubble going, would be some kind of resolution in Europe. If Europe actually gets its house in order, then we're really in trouble. - in Yahoo 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.

America Is Already Bankrupt

We're already bankrupt. Better to acknowledge that fact than to pretend we're not. - in Yahoo 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.er

May 29, 2012

Gold Mining Shares: There`s A Very Good Chance That The Bottom Is In

We could see another 10 percent pop in a week or two in the mining shares. There's a very good chance that the bottom is in, especially if we can get a rally in gold. - in ETF Daily News

Related: Newmont Mining (NEM), Goldcorp (GG), Barrick Gold (ABX), SPDR Gold Trust ETF (GLD), Novagold (NG), Market Vectors Gold Miners ETF (GDX)

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.

May 28, 2012

A Few Thoughts On US Economic Growth

I had argued that our economic growth prior to the crisis was largely a function of the real estate bubble. When that bubble popped, I knew that the economy would have to shrink. And that's just what happened. From 2008 to 2009 our national GDP (of around $14 trillion) contracted by $212 billion. To prevent any further dips, the government aggressively spent, borrowing heavily to do so.

To the relief of just about everyone, these moves did stop the nominal contraction. From 2010 to 2011 the U.S. GDP expanded by $502 billion, and from 2011 to 2012 it added an additional $508 billion. All told, from the end of 2008 the U.S. economy added a cumulative $798 billion in GDP. But those gains came at a very high price.

The combined federal deficits for the same time frame come in at a staggering $4.2 trillion! - in Europac

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 Are Digging Ourselves Into A Hole

We have bought ourselves some time by sweeping enormous problems under the rug. Through a combination of political cowardice, economic ignorance, and false confidence, we are digging ourselves into a hole so deep that it may take generations to crawl out. - in Information Liberation

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.

May 27, 2012

The Real Crash Is Still In Our Future


The Real Crash is still in our future, not in our past.

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.

May 24, 2012

Facebook`s IPO

By the time the average American gets a shot at all, the upside is gone. - in Yahoo Finance 

Related: Facebook (FB), IPO`s

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.

May 23, 2012

My New Book: The Real Crash

Unfortunately, the policies of both the Bush and Obama administrations, and the Ben Bernanke led Federal Reserve, have vastly raised the chances that my catastrophic view will come to pass. However, it’s not all gloom and doom — I devote a large majority of the book to solutions. The real crash may be inevitable, but what we do in response is not. We can follow on the path that I recommend back to prosperity, or we can continue on our current course which I believe will lead to economic ruin. - in BI

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.

Facebook (FB) Should Have Gone Public 4 Or 5 Years Ago



Facebook (FB) should have gone public 4 or 5 years ago.

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.

May 22, 2012

Is America Bankrupt?

If the U.S. government were a private company being audited by standard practices, it would be considered much further in the red than official national debt figures show. It would, in fact, be shut down and its key executive prosecuted for fraud. - in The Fiscal Times

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

May 21, 2012

QE3 Puts A Floor Beneath The Market

As the market digests the weakening economy and the lower market, then you start to get the optimism for the release, the fix, which is QE3. So I think QE3 puts a floor beneath the market. - in BI  


Related: SPDR S&P 500 Index ETF (SPY), Nasdaq 100 Index, Dow Jones Industrials

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.

May 20, 2012

We Keep Getting More Weak Economic Data

Well, we keep getting more weak economic data, which is validating my perspective that we never really had a recovery at all. We simply juiced the economy up on stimulus, and as the stimulus high wears off, the hangover sets in. - in BI 

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.

May 19, 2012

Stocks: No Big Downside, No Big Upside

I don’t think the downside is going to be enormous in stocks. As I said, the weak economic data, and weaker stocks, put pressure on the Fed because the Fed looks at the stock market as a barometer of the economy. As the market digests the weakening economy and the lower market, then you start to get the optimism for the release, the fix, which is QE3.

So I think QE3 puts a floor somewhere beneath the market. But I do think the overall weakness of the US economy is going to put a ceiling on the market. So, I’m not looking for a huge run up in stocks, but I’m not looking for a collapse. But I am looking for a collapse in the dollar at some point because more QE is definitely bad for the dollar. - in BI 

Related: S&P 500 Index, Dow Jones Industrials, Nasdaq 100 Index 

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.

May 18, 2012

This Economy Needs QE The Way A Heroin Addict Needs Another Fix

The Fed has already said that if the economy needs it (QE), it’s going to get it. And the economy is addicted to it, I mean this economy needs QE the way a heroin addict needs another fix. - in a recent 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.

May 17, 2012

World's Economic Growth Beyond America's Borders

Over the last generation, the vast majority of the world's economic growth has occurred beyond America's borders. - in MarketWatch

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.

Economic Fundamentals Vary Greatly In Different Corners Of The World

With uncertainty in Europe spooking investors away from any asset perceived as risky, many Americans have become wary of overseas equities. While the fear is understandable, it may be keeping us away from some of the world's most promising economies. I believe economic fundamentals are still the ultimate driver of investment performance, but it's easy to come to the opposite conclusion given the extreme global asset correlation we are now seeing. And economic fundamentals vary greatly in different corners of the world. - 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.

May 16, 2012

Stock Market: I Don`t Think The Market Is Going To Crash

We could have a bigger selloff. There’s a lot of reasons for the market to go down. QE3 is coming, so I think that ultimately puts a floor under the market. I wouldn’t be surprised to see stocks selloff from current levels, but I don’t think the market is going to crash. - in BI

Related: S&P 500 Index ETF (SPY), Powershares Nasdaq 100 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.

Both Germany And China Produce More Than They Consume

Both Germany and China produce more than they consume. It is from these resulting surpluses that the deficit nations are borrowing. But these two creditor nations are currently showing different policy drifts with respect to their hard-earned savings.

In Europe, German leaders are showing increasing reluctance to sacrifice the living standards of their own citizens to perpetuate an imbalanced economic system. The Chinese on the other hand appear to heartily encourage such a policy. This difference can be attributed to their respective political systems. In Germany, public opinion matters. In China, not so much. - in the Golden Rule Reinterpreted 


Related: ishares ftse xinhua china 25 index (FXI), IShares Germany (EWG)

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.

May 15, 2012

Currencies, Surplus And Deficits

The currencies of surplus countries are supposed to rise and the currencies of the deficit countries are supposed to fall. - in The Golden Rule Reinterpreted 

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 Are Going To Get More QE Than Rocky Movies

Unfortunately, we are going to get more QE than Rocky movies, because the only thing keeping this phony economy going is this QE. And the minute you take it away, it`s going to collapse. - in MoneyControl

Related: S&P 500 Index, Dow Jones Industrials, US Treasuries

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.

US Treasuries Are Junk Bonds

As far as I am concerned, US Treasuries are junk bonds. - in MoneyControl

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.

May 14, 2012

Stock Market Outlook: We Can Have a Bigger Selloff

We could have a bigger selloff. There’s a lot of reasons for the market to go down. QE3 is coming, so I think that ultimately puts a floor under the market. I wouldn’t be surprised to see stocks selloff from current levels, but I don’t think the market is going to crash. - in a recent video interview 

Related, SPDR SP 500 Index ETF (SPY), iShares Russell 2000 Index ETF (IWM), PowerShares QQQ Trust (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.

The Surplus Countries Will Make The Rules

In the current global economy, the surplus countries have the gold and sooner or later we will be living by their rules. - in GoldSeek

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.

May 13, 2012

Bullish On Gold Stocks

A lot of these gold stocks are trading at levels they were trading at in 2003. You are talking about nine years ago, when gold was at $400. So there is tremendous value here. Right now you just have massive capitulation on the part of people who have been holding on to these stocks. They are throwing in the towel. But we will have a huge rally at some point, and you’ve got to be positioned for it. I think these stocks can go up more than 100% in one year, especially if gold rallies from here. What if gold goes on and makes another high above $2,000 an ounce? What if it gets to $2,500 an ounce? These stocks have a long way to go just to get back to when gold was $1,000 an ounce.

Related: Newmont Mining (NEM), Barrick Gold (ABX), Goldcorp (GG), 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.

The Big Picture Is All Bullish For Gold

What’s so appealing about gold is that it does have intrinsic value. It’s paper money, it’s the dollar and the euro that ultimately have no intrinsic value. They are just pieces of paper with numbers written on them. The government can put any number they want on that paper, but gold is real. The government can’t create gold out of thin air, it has to be mined. The big picture is all bullish for gold. - in KWN 

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

Like The Nations Of Southern Europe, The United States Consumes Far More Than It Produces

Like the nations of southern Europe, the United States consumes far more than it produces. But rather than closing the gap by producing more and consuming less, both have followed a far less painful path. They have borrowed instead. Who can blame them? After all, it's far more enjoyable to consume than produce. And as we have seen in many financial arenas, a borrower will tend to borrow for as long as a lender is willing to lend, especially if there are no immediate adverse consequences.

Related: IShares Italy (EWI), IShares Spain (EWP), SPDR SP 500 Index (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.

May 10, 2012

I Am About To Release My Latest Book

After more than a year in development, I am about to release my latest book: The Real Crash: America's Coming Bankruptcy - How to Save Yourself and Your Country.

This book comes to market at a very important time. The mainstream media is actively helping liberal "economist" Paul Krugman promote his new book in which he spreads his gospel that inflation is too low and that government spending and federal deficits are not nearly high enough to restore vitality to the American economy. I am hoping that The Real Crash can vanquish this unworthy foe. It's well on its way: yesterday

Amazon released their picks for the best books coming in May, and The Real Crash was at the top of the list. And since Krugman refuses to face his critics (he doesn't believe such debates are effective - he actually said that) we will just have to let the numbers do the talking. - in Europac 

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.

May 9, 2012

What Could Fix This Economy?


Peter Schiff speaking to Rick Santelli on the CME floor.

Related, 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.

May 8, 2012

Video Interview: RT


Latest video interview, RT.

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.

May 7, 2012

Video: The Life Of Julia


"The Life Of Julia", from the Schiff 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.

May 6, 2012

The Euro Plague

Greece caused the euro zone to catch the flu, but its economy is relatively tiny, smaller than 14 US states and 11 EU states. The national debt of Greece is around 347 billion EUR, which is 159 percent of its Gross Domestic Product but still smaller in absolute value than its neighbors in Club Med. Italy, for instance, is over 1.88 trillion EUR in the red (120 percent of GDP); the recently downgraded Spanish debt is over 706 billion EUR (66% of GDP). These figures dwarf the 440 billion EUR remaining in the European Financial Stability Facility after the Irish and Portuguese bailouts.

So, if Greece gave the euro the flu, Spain and Italy are going to give it something like Ebola. - in RI

Related, iShares MSCI Italy Index ETF (EWI), iShares MSCI Spain Index ETF (EWP)

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.

May 5, 2012


Exclusive interview with Allan Meltzer, Chair of the Shadow Open Market Committee.

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.

May 4, 2012

CNBC Video: US Economy, Jobs Outlook

Latest video interview on CNBC Asia. Topics: US economy, jobs, US dollar, sovereign debt 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.

May 3, 2012

The Only Thing Propping Up Our Phony Economy Is Zero Percent Interest Rates

The Fed knows the only thing propping up our phony economy is zero percent interest rates and quantitative easing. And I think when the market figures this out, it’s going to put even more pressure on the dollar. - in CNBC

Related: PowerShares DB US Dollar Index Bearish (UDN), 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.

May 2, 2012

We Are Going To Have More QE Than Rocky Movies

Unfortunately, we are going to get more QE than Rocky movies, because the only thing keeping this phony economy going is this QE. And the minute you take it away, it’s going to collapse. - in CNBC

Related, 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.

US Treasuries Are Junk Bonds

As far as I am concerned, U.S. Treasuries are junk bonds. And the only reason that the U.S. government can pay the interest on the debt, and I say ‘pay’ in quotes because we never pay our bills. We borrow the money so we pretend to pay, but the only reason we can do it is because the Fed has got interest rates so artificially low. - in CNBC Asia

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.

May 1, 2012

Thoughts On The Gold Standard


A few thoughts on the Gold Standard.


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.

Video: Schiff On Huckabee


A recent video interview.

Topics: taxes, Warren Buffett


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 Are Never Going To Be Able To Pay Creditors Back

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

The Consumer Is Not The Engine

"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.

Gold Is A Reserve, Gold Is An Asset

I don`t think gold is a reserve currency. Gold is a reserve, gold is an asset. Currencies need to be backed by something. - in Max Keiser


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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