April 30, 2013

We Are Heading For A Worse Economic Crisis Than We Had In 2007

“I think we are heading for a worse economic crisis than we had in 2007. You’re going to have a collapse in the dollar…a huge spike in interest rates… and our whole economy, which is built on the foundation of cheap money, is going to topple when you pull the rug out from under it.” - in ETF Daily News

Related ETFs: SPDR SP 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.

Distracting Attention With A Statistical Illusion

"The bottom line is that now certain private sector salaries (in R&D and entertainment) will be counted twice and public pension contributions will be counted even if they aren't made.

The economy will not actually be any larger or grow any faster, but the statistics will claim otherwise.

With the stroke of a pen, our debt to GDP ratio will come down. Will this soothe the fears of our creditors? Will critics of big government take comfort that spending as a share of GDP may be lower?

My guess is that the government is confident that its trick will work, and that distracting attention with a statistical illusion is the sole motivation for the change." - in Finance Townhall, an excerpt from a text about the new methods of calculating Gross Domestic Product (GDP)

  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: Slow "Growth",GDP Makeover, Keynesians Demand More Debt And Inflation

Related: SPDR Gold Trust ETF (GLD), SPDR Dow Jones Industrials ETF (DIA), SPDR SP 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.

April 29, 2013

The Economic "Recovery" Is Weaker Than Expected

"Today's data release confirms that the economic "recovery" is weaker than expected and remains heavily dependent on Federal support. Personal spending was indeed up 3.2%, the biggest jump in two years, but real earnings were down by 5.3%, the biggest fall since 2009. Not surprisingly the buying was made possible by a drop in the savings rate, which came in at just 2.6%, the lowest since the 4th quarter of 2007. No doubt, rising home prices and falling mortgage rates (made possible by Fed stimulus) allowed Americans to refinance their homes and to borrow and spend the money that they did not earn." - in Finance Townhall 

Related ETFs: SPDR Dow Jones Industrial Average ETF (DIA), SPDR SP 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.

Video: "The Gold Chocolate Bar"


Related ETFs: 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.

April 26, 2013

We Are Just Inflating A Bigger Bubble Which Eventually Is Going To Burst

"We consume too much, we borrow too much, we don`t produce enough and all this needs to change. We need to have a restructuring of the economy but the government is preventing that from happening. Instead we are just borrowing more money and we are just inflating a bigger bubble which eventually is going to burst and it will be even more disruptive when it does." - in CCTV

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.

April 25, 2013

Gold: We Are Still At $1,400

“Gold has been up for 12 consecutive years. It’s entitled to a correction. It’s incredible how the media has jumped all over this… We’re still at $1,400. I think it’s a bit premature for the people who have been advising their clients not to buy gold for the past decade to be patting themselves on the back.” - in Fox Business

Related ETFs: 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.

The Real Growth Of The US Economy

"If you stripped away all the QE, all the inflation that the government is creating and exporting over to China, we would be in a recession. It would be a much needed recession that it would be repairing the structural damage to our economy that is the result of years and years of monetary stimulus and fiscal stimulus." - in CCTV 

Related ETFs: SPDR Dow Jones Industrials ETF (DIA), SPDR SP 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.

Just Because The GDP Number Is Getting Bigger, It Does Not Necessarily Mean Growth

"First of all, just because the GDP number is getting bigger, it does not necessarily mean that the US economy is actually growing. It`s just the way we calculate the growth. A lot of it is because we are underestimating inflation. You know, we deflate the GDP with a number that the government calculates and it purposes to represent inflation but I think that number is much to low and therefore the GDP is being overstated.

But in addition to that, a lot of the GDP is simply spending borrowed money. We have an huge trade deficit with China, we borrow a lot of money we import a lot of chinese goods, all that counts as growth when we spend money, but the fact that we are borrowing money to finance all the spending, nobody pays attention to that. I don`t think it is legitimate economic growth." - in a recent interview with CCTV  

Related ETFs: SPDR SP 500 ETF (SPY), SPDR Dow Jones Industrial Average ETF (DIA), PowerShares QQQ Trust, Series 1 (ETF)(NASDAQ: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.

April 24, 2013

Video: Global Economic Slowdown



Related ETFs: iShares MSCI Emerging Markets Index ETF (EEM), SPDR SP 500 Index ETF (SPY), United States Oil Fund ETF (USO)

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.

Japan: Everybody Is Raising Prices

McDonald`s (MCD) just announced their first price increase in 5 years, they raised the price of burgers 20 50 25 percent. Look at the utilities prices in Japan. I think Louis Vuitton just jacked up prices over there. Everybody is raising prices. The government massages the numbers." - in Fox Business

Related ETFs: iShares MSCI Japan Index (EWJ)

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.

April 23, 2013

Gold Has Been Up For 12 Consecutive Years, It`s Entitled To A Correction

"I have been buying gold for 13 years or so, it`s been on a bull market for pretty much the entire time and I am not a short term trader. So, I don`t give advice to futures traders or options traders. I am telling people to buy gold and hold it as an hedge against inflation and money printing. Gold has been up for 12 consecutive years, it`s entitled to a correction." - in Fox Business

Related ETFs:  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: Gold Prices, Japanese Inflation


Related stocks and ETFs: SPDR Gold Trust ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), Goldcorp (GG), McDonald`s (MCD)

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.

April 22, 2013

The Limitations Of Inflation As An Economic Panacea

"The boldness of Abe's plans should provide the rest of the world with a crash course in the ability of debt accumulation to jumpstart an economy. The good news is that the effects should not take too long to be seen. I believe that we will be treated with a stark lesson on the limitations of inflation as an economic panacea.

Hopefully, failure of this latest Japanese experiment will help convince leaders in the U.S. and Japan that the only true path to prosperity is free market capitalism. Rather than trying to reflate busted bubbles and micro-manage Keynesian style recoveries, politicians and central bankers should recognize their respective roles in creating the problems and get out of the way." - in Town Hall

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.

April 21, 2013

One Way Or Another We Are Going To Have A Dollar Crisis

"If you remember, gold actually performed better before the 2008 financial crisis then it did after the 2008 financial crisis. It`s all about the money printing, the money printing is going to continue, the inflation is there, it`s there in assets right now, it`s in the bond bond, it`s in the stock market, is back into the real estate market.

The money is being printed, that is the definition of inflation. (...) Prices are rising, everybody who shops knows that. But eventually you are going to see much higher increases in consumer prices. The government will not be able to hide  that with the CPI and the Fed is going to be in a box. It`s going to have to either raise interest rates or admit that they can`t. But one way or another we are going to have the dollar crisis. It`s not a question of it, it`s a question of when." - in CNBC 

Related ETFs: SPDR Gold Trust ETF (GLD), PowerShares DB US Dollar Index Bearish (UDN), iShares Silver Trust ETF (SLV), 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.

April 20, 2013

Video: A Minimum Wage Debate


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.

April 19, 2013

Rates Are Going To Go Up And When That Happens, The Party Is Over

"It feels pretty good right now. The Fed(eral Reserve) is spiking the punch bowl with all this monetary alcohol. But the problem is when the hangover wears off, we are going to be able to convince the world to keep lending us money at ultra low interest rates. Rates are going to go up and when that happens, the party is over." - in CNBC

Related ETFs: SPDR SP 500 Index ETF (SPY), SPDR Dow Jones Industrials ETF (DIA), iShares Barclays 20+ Year 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.

April 18, 2013

Gold: I Always Buy More When The Price is Declining



Related ETF: 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.

April 17, 2013

Video: This Gold Decline Will Prove To Be A Buying Opportunity



Related stocks and ETFs: SPDR Gold Trust ETF (GLD), Barrick Gold (ABX), Goldcorp (GG), AngloGold (AU), Newmont Mining (NEM), Freeport-McMoRan Copper and Gold Inc. (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.

April 16, 2013

Gold: The Sell-Off Is Based On A Couple Of False Narratives

"Right now, we’re dealing with the psychological aspect of the markets, because people see the price of gold going down, so they want to sell.

I think most of the people selling their gold now are probably selling at a loss because they’re probably the people who piled in when it was at $1,600, $1,700 and $1,800. If people think this sell-off is sharp, just wait till you see the rally.

The sell-off is based on a couple of false narratives. The first one is that the U.S. economy is recovering and that the Fed policy worked, and the second is that European banks are going to sell all their gold." - in Investment News

Related ETFs: SPDR Gold Trust ETF (GLD), iShares Silver Trust 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.

CNBC Video: Bullion Brawl



Related stocks and ETFs: SPDR Gold Trust ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), Goldcorp (GG), AngloGold (AU), Freeport-McMoRan Copper and Gold Inc. (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.

April 15, 2013

The Gold Bull Market is Dead, Long Live the Bull Market


Related ETFs and stocks: SPDR Gold Trust ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), Goldcorp (GG), Freeport-McMoRan Copper and Gold Inc. (FCX), 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.

April 11, 2013

People Believe The US Economy Is Recovering. It's Not.

"People believe the US economy is recovering. It's not." - in The New York Times 

Related ETFs: SPDR SP 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.

Goldman Sachs & Their Revised Gold Outlook

"Goldman obviously wants to buy more gold, so it needs to convince other to sell it to them. It also wants to buy low, so it needs sellers to drive down the price." - in CNBC

Related stocks & ETFs: Goldman Sachs (GS),  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.

April 10, 2013

Video: Gold Outlook



Related stocks and ETFs: 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.

We Cannot Print Our Way To Prosperity

"How much inflation is going to be created by central bankers who think we can print our way to prosperity? We can`t! But we certainly ca destroy our currencies in the process."  - in  CNBC Asia

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.

April 9, 2013

Video: Gold Is The Only Safe Haven



Related ETFs: SPDR Gold Trust ETF (GLD), iShares Silver Trust ETF (SLV), 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.

April 8, 2013

Video: The Next Big Move In Gold



Related ETFs: 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.

April 7, 2013

Valcambi Gold Bar: Keeping Gold Ready For Day-To-Day Trade

"I have been on radio recently discussing the new Valcambi gold bar that has seen rising sales in Europe and now the US. The 50-gram bar can be broken into 1-gram pieces to be used in trade. This represents a radical shift in how precious metals customers are thinking about their investment. Now it's not just about putting away long-term savings, but even keeping gold ready for day-to-day trade." - in IB Times

Related ETFs: 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.

April 6, 2013

Cyprus: A Microcosm Of The Story Of All Western Nation-States

"The recent history of Cyprus is a microcosm of the story of all Western nation-states." - 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.

April 5, 2013

Currency War: Race To The Bottom



Video Summary: When it comes to the Currency War, Bernanke has everyone beat with the Fed's rocket-powered currency devaluation.

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.

April 4, 2013

Stay Away From Artificially Induced Highs

“Investing in stocks is supposed to be a way to harness real economic growth, not a way to front run stimulus. Our advice for stock investors is to recognize that and to get as far away from artificially induced highs as possible.” - in MarketWatch Blog

Related ETFs: SPDR SP 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.

April 3, 2013

No Interest Without Risk

"Why do depositors or bondholders think they are entitled to interest without risk? That is not how markets work. We earn interest on these investments because we are loaning our assets to the bank. If the bank cannot repay us, we lose." - in IB Times 

Related ETFs:  Financial Select Sector SPDR (XLF)

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.

An Unprecedented Step Forward In The Financial Collapse Of The West

"The news of the month comes from the large Mediterranean island of Cyprus, where Keynesian economic planning left the economy facing complete bankruptcy. The result was an unprecedented step forward in the financial collapse of the West: direct forfeiture of bank deposits. Despite official protestations to the contrary, this fallout will spread to a bank near you." - in IB Times 

Related ETFs: Financial Select Sector SPDR (XLF)

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.

April 2, 2013

Video: The Gold Man



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.

Cyprus Is A Wake-Up Call For Everybody Who Has A Bank Deposit

“Cyprus is a wake-up call for everybody who has a bank deposit. When you are depositor, you are in fact lending your money to the bank. There’s no question banks will fail. The question is will government do the right thing and allow depositors to lose money. Or, do the wrong thing and bailout depositors by printing a bunch of money which, in the long run, means deposits will lose even more value.” - in Before It`s 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.

April 1, 2013

Silver Circle (The Movie): Entertaining & Educational


Video Summary: Jeff Durkin from "We Are Change CT" got a chance to interview Economist Peter Schiff at the premier of the new animated film Silver Circle. We discussed his thoughts on the film, and his outlook on the future of the U.S. Economy.

Related ETFs: iShares Silver Trust 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.
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