July 31, 2012

All We Do Is Spend More Borrowed Money

I think the only thing that is punctuating the recessions is the phony growth that we get from the stimulus. But it’s not real growth. All we do is spend more borrowed money. - in The New American

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: US Economic Growth



Latest video market 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.

July 30, 2012

QE3: It Will Not Strengthen It Will Weaken The Dollar

If the Fed ultimately comes through with QE3...it won't strengthen the economy, but it will weaken the dollar. - in Yahoo 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.

The Gold Standard Is The Only Thing That Really Works

Ultimately, I think the whole thing gives way and what returns is what existed prior to the dollar standard, and that is a global gold standard, which is the only thing that really works. - in Gold Investing News 

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.

Facebook: Who Bought At The IPO Is Holding The Bag

"The VCs, the private equity guys at the early stages, already cashed out and made their fortunes. Everybody else who ran to buy the stock at the IPO at a sky-high valuation ended up holding the bag. - in Economic Times

Related: Facebook (FB)


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.

July 27, 2012

Gold & Mining Stocks Outlook

I’m surprised that gold is not rallying even more considering what’s happening. Gold has now broken out of a channel. There was a very nice trendline and we just broke out of that today. Now that we have broken out of that channel, there is a lot of room to the upside. The next channel for resistance appears to be another $100 higher than current levels for gold.

If gold breaks above the $1,650 level with conviction, then I think we are looking at retest of the all-time highs from late summer of 2011. And nobody is really anticipating that because these gold stocks are priced for a collapse in the price of gold, not a return to the highs. I think, ultimately, we take out the highs and we go a lot higher.

At some point, if I’m right, these gold stocks are going to take off because they have a lot of catching up to do.  - in Business Insider


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.

July 26, 2012

Gold Has A Lot Of Upside

Gold has now broken out of a channel. There was a very nice trendline and we just broke out of that today. Now that we have broken out of that channel, there is a lot of room to the upside. - in KWN

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.

Draghi Is Just Saying He’s Going To Print As Many Euros As He As To

Draghi is just saying he’s going to print as many euros as he has to. That’s what people are interpreting here is him saying, ‘We are not going to let countries default. We’re going to keep countries on board, which means we are going to acquiesce to the pressure to print money.’ - in SGT 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.

July 25, 2012

Video: The Real Crash



Peter Schiff talks about his most recent book, The Real Crash, and asserts the major financial crisis that he predicted in 2007 has yet to come.

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 Been In A Depression Since 2007



A recent video interview on 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.

July 24, 2012

We've Got A Much Bigger Collapse Coming

We've got a much bigger collapse coming, and not just of the markets but of the economy. It's like what you're seeing in Europe right now, only worse. - in Yahoo Finance

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

Why the Government Should Not Be in the Student Loan Business



CNBC video, Why the Government Should Not Be in the Student Loan 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.

July 23, 2012

Video: Socialism Is The Problem, Capitalism Is The Solution




Video interview: Socialism is the Problem, Capitalism Is The Solution

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 Real Fiscal Cliff

The debt burden that the United States will face when interest rates rise presents a much larger fiscal cliff. - in NYT Blog

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.

July 22, 2012

An Unhealthy Dependence On Cheap Money

Years of monetary accommodation has only succeeded in creating an unhealthy dependence on cheap money. - 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.

July 21, 2012

Federal Reserve Policies Are Not Producing Lasting Benefits

While Bernanke may be correct in his assumption that his policies of 2008 and 2009 prevented a deeper contraction in the early months and years of the recession, he can't claim that those policies are producing lasting benefits. Certainly our listless economy would suggest otherwise.

I believe that absent Fed activism four years ago we would have gone through a shorter, sharper contraction, and we would now be on the road to a real recovery. But this is a possibility that Bernanke and his supporters will never dare to entertain.

 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.

July 20, 2012

The Federal Reserve Will Continue To Shower The Economy With Liquidity

It seems clear that the Fed will continue to shower the economy with liquidity, whether or not there is any evidence that the monetary deluge actually produces a tangible benefit. - in IB Times 

Related: SPDR S&P 500 Index ETF (SPY), 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.

July 19, 2012

The Next Crash Will Be Worse Than 2008





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.

My Fear Is That Capitalism And Free Markets Take The Blame For Problems That Were Created By Government

My biggest worry is that capitalism and the free markets will get the blame when it really hits the fan. When we get the real crash and everything implodes, and it’s really Armageddon style collapse, my fear is that capitalism and free markets take the blame for problems that were created by government. - 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.

July 18, 2012

Gold Will Move A Lot Higher Eventually

You can never time it. Whether gold is going to take off next week or next month or next year, I don’t know. But I think it’s coming, and I think it’s going to be a big move. - in Index Universe

Related ETFs: SPDR Gold Trust ETF (GLD)

Related stocks: Newmont Mining (NEM), Barrick Gold (ABX), Goldcorp (GG), AngloGold (AU), 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 Government Will Have To Spend A Lot Less

The government will have to spend a lot less and so will individual households. We need a lot more savings; we need a lot more legitimate investment; more production; more exports. None of that is happening right now. We’re doing all the wrong things; we’re making all the underlying conditions worse. And the Fed stimulus is making it possible. - in Index Universe

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.

The Federal Reserve Always Does The Wrong Thing

The Fed always does the wrong thing, and QE3 would be the wrong thing, so they’re going to do it.

If you look at what the Fed says, they say we’re going to do QE3 if the economy needs it, and the economy is going to need it, from their perspective, because without QE, the economy will lapse into a worse recession than the one we just finished. That’s because we still have a lot of problems to correct because the last recession was cut short by the stimulus. - in Index Universe

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’ve Got A Much Bigger Collapse Coming

We’ve got a much bigger collapse coming, and not just of the markets but of the economy. It’s like what you’re seeing in Europe right now, only worse. - Yahoo’s Breakout

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.

July 17, 2012

Central Banks Are Postponing Short-Term Pain

All the central banks are trying to prevent economies from restructuring along the lines that would produce lasting, healthy, sustainable growth. We’re all going to pay a price for this reckless behavior.

All they’re concerned about is postponing short-term pain, even if it’s a healing type of pain. It’s the equivalent of swallowing some bad-tasting medicine that cures us. But because the cure doesn’t taste good, they don’t want us to have to take it. - in Index Universe

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 Burden & Interest Rates

"The debt burden that the United States will face when interest rates rise presents a much larger fiscal cliff." - in NYT Blog

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.

July 16, 2012

Bullish On Gold Miners

As the price of gold goes higher, their profit margins increase. So if you are very bullish like I am and think there is going to be a big increase in gold, it’s a huge opportunity for miners. - in Resource Investing News 

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.

Central Banks Are Increasing Their Gold Holdings

Central banks are choosing to increase their gold holdings as a percentage of total reserves. They obviously think there is a reason to do that. - in BI


Related: SPDR Gold Trust (ETF), Newmont Mining, Barrick Gold, Goldcorp, Anglogold

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.

There’s A Tremendous Moral Hazard Involved With This System

You have countries that have lived beyond their means, with bloated governments, huge trade deficits, and people living off the government. Then you have others where poor people are working hard and underconsuming and their governments are buying all this debt and propping up the extravagant countries. All of this has to change. There’s a tremendous moral hazard involved with this system. - in Business Insider

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

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.

July 15, 2012

The Government Can Only Get Money From Taxing, Borrowing, Or Printing

People tend to forget that the government can only get money from taxing, borrowing, or printing. Nothing the government spends comes for free. - excerpt from the Real Fiscal Cliff

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.

Historical Perspective: Gold, Stocks & Bonds

You had 20 years where gold and silver prices did nothing but go down and stock and bond prices did nothing but go up. If you had your money in gold for those 10 or 20 years, you missed out on enormous gains. It was that track record for the money managers and portfolio managers that started their career in the ’80s, which is when a lot of people came to Wall Street.

By the end of the ’90s, with the Dow at 10,000 and the NASDAQ at 5,000, but gold at like $250 and silver at about $4, it basically pounded out any sense of optimism on the metals or why to buy them.

Over the past decade or so, you have seen the flip side of that as you’ve seen stock prices have come down a lot relative to gold. Now you are getting a change where people are more comfortable holding gold because in the rear-view mirror it doesn’t look so bad for gold.

Bonds have not come down as much relative to gold, but I think the bond bubble is going to burst and will be falling for years too. And gold will look that much better. - in Business Insider

Related: SPDR S&P 500 Index ETF (SPY), SPDR Gold Trust ETF (GLD), ProShares UltraShort 20+ Year Trea (ETF), 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.

July 14, 2012

Gold: Everyone Is Going To Want It

At some point everyone is going to be competing to buy gold – central banks, investors, speculators, savers. Everyone is going to want it and I think the price is going to go a lot higher. - in Business Insider

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.

National Debt & Future Interest Payments

On the current trajectory the national debt will likely hit $20 trillion in a few years. If, by that time interest rates were to return to some semblance of historic normalcy, say 5 per cent, interest payments on the debt would then run $1 trillion per year. This sum could represent almost 40 per cent of total federal revenues in 2012! - excerpt from the The Real Fiscal Cliff 


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.

July 13, 2012

The Real Fiscal Cliff

In reality, the economy will encounter extremely dangerous terrain whether or not Congress figures out a way to wriggle out of the 2013 budgetary straightjacket. The debt burden that the United Stated will face when interest rates rise presents a much larger "fiscal cliff." Unfortunately, no one is talking about that one. - in The Global Investor Newsletter

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: Central Banks Are Now A Tailwind

The more buyers you have, the firmer the price is going to be. When central banks were selling it was a headwind the market had to overcome. Now it’s a tailwind that central banks are joining the buyers. - in Resource Investing News

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.

July 12, 2012

Gold: Central Banks Are Trying To Increase Their Holdings

Central banks are choosing to increase their gold holdings as a percentage of total reserves. They obviously think there is a reason to do that. It doesn’t make sense to back up one currency with a hoard of other paper currencies. There needs to be a real anchor there. I think that central banks are well behind the curve. If you look at the percentage of above-ground gold controlled by central banks, it’s historically low. Hence the fact that central banks are trying to increase their holdings. They’ve got a long way to go to get where they need to be. - Resource Investing News

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.

We Are Going To Have To Go Back To A Monetary System Based In Gold

Most paper money initially existed as a substitute for gold. That’s what gave it value. But right now what gives a currency value is other currency. Most countries hold reserves and the reserves are other currencies. If you are a backing up the euro with the dollar, what’s backing up the dollar?

I don’t think it is going to go to a point where all you have is coins and bars of gold, but I do think that we are going to have to go back to a monetary system based in gold, not based on paper. - in Business Insider

Related: SPDR Gold Trust (ETF), Newmont Mining (NEM), Barrick Gold (ABX), Goldcorp (GG), Anglogold (AU);

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.

July 11, 2012

Nothing The Government Spends Comes For Free

People tend to forget that the government can only get money from taxing, borrowing, or printing. Nothing the government spends comes for free. Money taxed or borrowed is taken out of the private sector, where it could have been used more productively. Printed money merely creates inflation.

So the automatic spending cuts, to the extent they are actually allowed to go into effect, will promote economic growth not prevent it. - in Investment 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.

July 10, 2012

Video: Jobs, The Real Fiscal Cliff, Obamanomics



Latest video market 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.

July 9, 2012

Printing Money To Stay "High"

All the money the government is printing to boost the economy is like you are trying to keep a drug addict high. And every time the drug wears off, if you want him to stay high, you have to give him more. But he’s not going to get healthy if you keep him on drugs. - in Business Line


Related ETFs: SPDR S&P 500 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.

The Risk Lies In The Dollar

There are a lot of people who don’t understand what is going on. Look at how many people are buying the dollar. Look at people buying Treasuries. That makes no sense either. The risk lies in the dollar. The risk lies in Treasuries and other currencies being printed into oblivion. - in Business Line

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

July 7, 2012

Gold & Central Banking Policy

The return to gold is unmistakably the product of a strategic, not merely a tactical, shift in global central banking policy. - excerpt from The Return To 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.

July 6, 2012

Central Banks Are Already Returning To Gold As The Ultimate Safe Haven Asset

In my latest book, The Real Crash: America's Coming Bankruptcy - How to Save Yourself and Your Country, I devote a full chapter to the merits of the historical gold standard and reasons to reinstate it. What I did not mention and few investors notice is that central banks are already returning to gold as the ultimate safe haven asset.

I believe this change in policy, combined with continued inflation of Western currencies, is creating a stable floor for the gold price and an even brighter upside potential. - excerpt from The Return Of 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.

July 5, 2012

The Supreme Court Has A History Of Giving The Government Latitude To Get Around The Constitution

The bottom line is that the Supreme Court has a history of giving the government latitude to get around the Constitution. Instead of looking at the intent of legislation (even when the legislators are alive to be asked), or even its practical effect, the Court looks for any legal technicality upon which to base a ruling of constitutionality. - in Market Playground

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.

July 4, 2012

Peter Schiff On CNN (Fareed Zakaria)



Peter Schiff on Fareed Zakaria's Global Public Square - July 1st, 2012

Other Interviewers: Jeffery Sachs - economist who serves as director of Columbia University's Earth Institute Vanden Heuvel - editor and publisher of The Nation magazine Peter Orszag - first budget director for President Obama, now Vice Chairman of Global Banking of Citigroup and columnist for Bloomberg

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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