September 26, 2013

The Worst Fed Chairman

"I used to think that Alan Greenspan was the worst Fed chairman we ever had until Bernanke was appointed. He kind of let Greenspan off the hook. My guess is that Janet Yellen will return the favor, and Ben Bernanke won't go down in history as the worst Fed chairman. It's going to be Janet Yellen.

She will bow to pressure from liberal Democrats to keep stimulating the economy through cheap money, even though it doesn't work. I think she's going to be leading the Fed in a dangerous direction." - in Moneynews 

September 25, 2013

Yellen Will Go Down As The Worst Fed Chief in History



Related ETFs: Financial Select Sector SPDR (XLF), SPDR Gold Trust ETF (GLD), 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.

September 24, 2013

Look At What The Fed Does, Not What They Say



"He wants to maintain a false sense of confidence that the recovery that the Fed has helped to create is real. It's not. It's phoney. It's only here as long as we get ever increasing amounts of QE to keep it pumped up." - in Yahoo Finance

Measuring Inflation

"If we used today's inflation measure in the 70s, there would've been no inflation." - in Twitter




September 23, 2013

At Some Point The Dollar Is Going To Fall Off The Edge Of A Cliff

"At some point the dollar is going to fall off the edge of a cliff. Bond prices are going to go down, and the Fed is going to have no choice but to slam on the brakes, and then we are going to have a worse financial crisis than we had in 2008." - in CNBC 

Fed Tapering: They Had No Intention Of Doing It

“Ben Bernanke went over a whole list of things to describe why the US economy was not strong enough for a taper. How is that going to change in four weeks? It’s not. If the Fed was going to taper, they would have done it in September, not wait until October. Everybody was ready for a taper, the markets were prepared for a taper. All they had to do was deliver on those expectations. The fact that they didn’t do it meant they had no intention of doing it.” - in Europac Metals Blog

Related ETFs: SPDR Gold Trust ETF (GLD), iShares Silver Trust ETF (SLV), SPDR Dow Jones Industrials ETF (DIA), 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.

QE: Like Every Drug, The Economy Is Going To Need More Of It

"The recovery that the Federal Reserve is bragging about helping create is 100 percent dependent on the quantitative easing that it is supplying. Far from diminishing QE, the next big move is going to expand it." - in CNBC




Video: Comparing The US & Japan



This is a very interesting video, where Peter Schiff compares the U.S. economy with the japanese situation.

Video: Fed`s Non-Taper Damage Control



Latest video from the Schiff Report. Peter comments the recent Non-Taper damage control by Ben Bernanke.

September 21, 2013

QE Has Succeeded In Hiding The Truth

Peter Schiff is probably the biggest critic of the QE program. He believes the U.S. economy will not have a real recovering as long as this type of monetary stimulus is being delivered:

"But the reality is that the economy will never regain true health as long as the stimulus is being delivered. Despite trillions already administered, the workforce is shrinking, energy usage is down, the trade balance is weakening, savings are down, inflation is showing up in inconvenient places, debt is up, and wages are flat. So while QE has succeeded in hiding the truth, it hasn't accomplished anything of substance. Unfortunately, the Fed is only interested in the headlines." - an excerpt from The Taper That Wasn`t

And you have to love the article`s title. The taper that wasn`t. Brilliant.

September 20, 2013

No Tapering Can Lead To A Bigger Sell-Off

"Given the strong anticipation for a taper announcement, today's relief rally should come as no surprise. However, the Fed's inaction should be perceived by many as an admission that the economy is fundamentally weak. Once that possibility takes hold, today's euphoria is likely to dissipate. Perhaps the Fed's inaction may cause many to wonder if the economy is not as strong as they believed. This could ultimately lead to an even bigger sell off than what we would have seen today if the Fed had come through with a taper announcement." - in Finance Townhall 

Related ETFs: Financial Select Sector SPDR (XLF), SPDR Dow Jones Industrial Average ETF (DIA), 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.

September 19, 2013

The Fed's Failure To Announce Some Sort Of Tapering Of Its QE Program

"The Fed's failure to announce some sort of tapering of its QE program, despite the consensus of an overwhelming percentage of economists who expected action, once again reveals the degree to which mainstream analysts have overestimated the strength of our current economy. The Fed understands, as the market seems not to, that the current "recovery" could not survive without continuation of massive monetary stimulus." - in Finance Townhall

Related ETFs: Financial Select Sector SPDR (XLF), SPDR Dow Jones Industrial Average ETF (DIA), SPDR S&P 500 Index ETF (SPY), 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.

Taper That Wasn't

"They are setting up for a painful correction that will likely be worse than the one we experienced five years ago." - in USA Today 

Related ETFs: Financial Select Sector SPDR (XLF), SPDR Dow Jones Industrials ETF (DIA), 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.

September 18, 2013

Video: To Taper Or Not To Taper



Related ETFs: Financial Select Sector SPDR (XLF), SPDR Dow Jones Industrial Average ETF (DIA), iShares MSCI Emerging Markets Index ETF (EEM), 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.

September 17, 2013

Video: What To Expect From The FOMC Meeting



Video Summary: Peter Schiff, Euro Pacific Capital, discusses the Fed announcement with CNBC's Mandy Drury and the Futures Now Traders, Jeff Kilburg at the CME and Anthony Grisanti at the Nymex.

Related ETFs: Financial Select Sector SPDR (XLF), SPDR Dow Jones Industrial Average ETF (DIA), 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.

Federal Reserve, Tapering, End Of The Recovery

"The Federal Reserve is afraid that just the beginning of the taper might be the beginning of the end, because the bond market might get killed, which means interest rates rise for the government, mortgage rates rise for the homebuyers, and that's it for the recovery." - in CNBC 

Related ETFs: Financial Select Sector SPDR (XLF), 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.

September 16, 2013

There’s No Limit As To How High The Price Of Gold Can Go

"It’s hard to put a dollar value on it, because I have no idea what a dollar will be worth, if anything. There’s no limit as to how high the price of gold can go. I think, at a minimum, you’re going to see gold prices at $5,000 before the bull market ends. But it could be a lot higher than $5,000, there’s just no way to know now.

I don’t know how many dollars are going to be created, how far the Fed is going to try to push this envelope when it comes to QE. So who knows where the price might end up. At this point, it’s really irrelevant. You don’t really need to know how high it’s going to go, you just need to know it’s going to go a lot higher and just buy it." - in Index Universe

Related ETFs and stocks: 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.

September 15, 2013

Gold: There`s A Strong Probability That We Have In Fact Made A Bottom

"There’s a strong probability that we have in fact made a bottom, and whether we’re going to retest that bottom before going higher is anybody’s guess. But I think we’re going a lot higher. I think we’re going to take out the high of $1,800 or $1,900 set back in 2011. We might not do that in calendar year 2013, but I think we got a good shot of doing it in 2014, and actually adding quite a bit of distance above $1,900 to the upside.

The fundamentals are as strong as ever for gold. A lot of the players that exited the market in the summer of 2013 are going to be getting back in at higher prices. And a lot of the shorts are going to be in a lot of trouble, because they’re going to find it very difficult to buy back these positions that they’ve sold, because a lot of the gold that was sold by speculators on the way down was bought up by long-term holders." - in index Universe

Related stocks and ETFs: Newmont Mining (NEM), Barrick Gold (ABX), AngloGold (AU), Goldcorp (GG), Novagold (NG), Market Vectors Gold Miners ETF (GDX), 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 14, 2013

Bernanke Thinks He Sees A Light At The End Of The Tunnel

“He thinks he sees a light at the end of the tunnel but doesn’t know it’s an oncoming train yet.” - in CBS Market Watch Blog 

Related ETFs: Financial Select Sector SPDR (XLF), 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.

September 13, 2013

The Crisis Is The Debt, Not The Debt Ceiling

"I don’t see the debt ceiling as the crisis, that’s part of the solution. The crisis is the debt, and the crisis is that we’re going to raise the debt ceiling. We’re going to keep raising the ceiling so we’re going to keep piling more debt on top of the debt that we have.

And, eventually, the crisis comes not because we don’t raise the debt ceiling, but because lenders don’t raise the lending ceiling because they recognize that we’re broke. They won’t want to throw good money after bad, they don’t want to keep lending money to a country that can’t pay back what has already been loaned to it.

That’s when we have a real crisis—interest rates go up; the dollar collapses. The debt ceiling is just politics. We’d be better off if the debt ceiling couldn’t be raised, because then we’d actually have to deal with the problem instead of kicking the can down the road." - in Index Universe 

Related ETFs: Financial Select Sector SPDR (XLF), SPDR Dow Jones Industrial Average ETF (DIA), 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.

Choosing Between Federal Reserve Candidates Is Like Choosing How You Want To Be Executed

"Choosing between Fed candidates is like choosing how you want to be executed." - in CBS Market Watch 

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, 2013

Silver Has An Exciting Future

"Silver has an exciting future. Its use in high-tech industries is expanding, from photovoltaic power and automobiles to high-end electronics and nanosilver. While the US economy is floundering, emerging markets like China have shown a voracious appetite for silver. The growing Asian middle class is also buying silver bullion in record amounts, causing supply shortages and record high premiums." - in Euro Pacific Precious Metals 

Related Stocks & ETFs: iShares Silver Trust ETF (SLV), Hecla Mining Company (NYSE:HL), Silver Wheaton Corp. (USA) (NYSE:SLW)

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.

When Entering A Bull Market In The Metals, Silver Tends To Outperform

"When entering a bull market in the metals, silver tends to outperform. Gold has rallied more than 14% from its low in June, while silver is up 24 percent. There is no doubt that silver is a key ingredient for an inflation-resistant portfolio." - an excerpt From The Desk Of Peter Schiff

Related stocks & ETFs: Hecla Mining Company (NYSE:HL), Coeur Mining Inc (NYSE:CDE), Silver Wheaton Corp. (USA) (NYSE:SLW), 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.

September 10, 2013

Either Way, Gold Rallies

“The gold market has sold off on anticipation of a taper. But even if the Fed does taper, I think we get a rally… Okay, so the Fed tapered, so what? It’s still got cheap money, it’s still going to keep on coming. Buy gold. So I think gold rallies on a taper, but I think it can have an even bigger rally on a non-taper, as people realize that the taper they baked into this gold cake isn’t going to happen. Instead, we’re getting even more QE. Either way, gold rallies.” - in Europac Metals Blog

Related ETFs: SPDR Gold Trust ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), AngloGold (AU), 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 9, 2013

Video: Merrill Lynch Punished For Hiring Black Brokers


(Correction: In the video I mention that 14,000 current and former black brokers will share the award. The correct number is 1,200.)

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, 2013

The Dollar Has Lost 98 Percent Of Its Purchasing Power

“If you look at the value of the dollar today to where it was 100 years ago, the dollar has lost 98 percent of its purchasing power since the Federal Reserve was put in charge. And if you look at the dollar’s purchasing power 100 years prior to the Fed, the dollar gained — maybe doubled. The dollar was more valuable in 1913 than it was 1813.” - in New York Post

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 Unmitigated Disaster

"It's been an unmitigated disaster. The history of the Fed is the history of the decline of the United States. I am not going to blame it all on the Fed; there are other factors. But the Fed had an integral role in the gradual decline of American civilization." - in New York Post

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, 2013

Jobs Report Confirms QE Is Not The Thing Not Working


Related ETFs: SPDR Dow Jones Industrial Average ETF (DIA), SPDR SP 500 Index ETF (SPY), 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.

September 6, 2013

Physical Precious Metals Demand

As Western investors flip-flop on whether or not gold remains a good buy, Eastern and emerging market investors have jumped on these low prices as an unprecedented buying opportunity. At this point, the data supporting physical precious metals demand is so great that it's easier to just list a few highlights from the second quarter of 2013:

 - 53% more bullion was purchased worldwide this quarter than in 2012 year-over-year (YoY).

 - Demand for gold jewelry worldwide grew 37% YoY. ·Global coin and bar demand hit a quarterly record of more than 500 metric tons.

 - For the 10th consecutive quarter, global central banks increased their net gold reserves

(excerpt from the article "Gold Is Off To The Races")

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, 2013

Gold Market: A Turnaround During A Season Usually Ruled By The Bears

"In last month's Gold Letter, I explored the likelihood of a dramatic short squeeze in the gold futures market. With record short positions facing a rising gold price, I anticipated that short sellers would have to cover their bets by buying back the contracts they sold short, and in so doing, drive the yellow metal higher.

While a full-scale short squeeze has yet to develop, speculators have abandoned their record short positions in gold. In each of the first three weeks of August, futures speculators increased their net-long positions, and by August 20th, money management accounts had grown their net-long positions to the highest since February. The futures market reversed course so much that by the third week of the month, gross short positions were at their lowest since April.

That's quite a turnaround during a season usually ruled by the bears. Just as I forecast, this about-face in the futures market was likely a big factor in gold's resurgence." - an excerpt of Off To The Races

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

September 4, 2013

The Precious Metals Are Off To The Races Once More

"Summer is traditionally a slow season for precious metals, but this summer started with a rout. In the last week of June, gold and silver hit 2-year lows of $1,192 and $18.61 respectively.

Fortunately, after staggering along the lows, the precious metals are off to the races once more – with gold rallying more than 18% and silver 31%. This remarkable performance continues even in the face of the Fed’s sustained tapering threats.

The exhaustion of short-sellers paired with insatiable global physical demand has positioned gold for an exciting conclusion to a volatile year." - in Right Wing News

Related ETFs: SPDR Gold Trust ETF (GLD), iShares Silver Trust ETF (SLV), Newmont Mining (NEM), Barrick Gold (ABX), AngloGold (AU), 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 3, 2013

Video: Oil Prices Are Going A Lot Higher


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 Dollar Crisis, A Bond Market Collapse

"It's a monetary problem we have. We have a dollar crisis coming, a bond market collapse coming." - in Money News

Related ETFs: iShares Lehman 7-10 Yr Treas. Bond (ETF) (IEF), Financial Select Sector SPDR (XLF), SPDR Dow Jones Industrials ETF (DIA), 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 2, 2013

Our Impoverished Citizenry Can No Longer Support The Airline Industry We Once Had

"The truth is that our impoverished citizenry can no longer support the airline industry we once had. That's why American and U.S. Air had to merge in order to stay competitive and profitable. That is the sad truth behind the headlines. The government is correct about one thing, the merger would result in fewer choices and higher fares for customers. But given the reduction of our living standards that outcome is impossible to avoid. If our government really wants to protect consumers and allow for more affordable air travel, a better solution would be to reverse the destructive policies that made the merger necessary in the first place. Ironically blocking the merger could result in more flight reductions and larger fare increases than what might have been the case had the merger been allowed." - in Economic Policy Journal

Related Stocks: US Airways Group Inc(NYSE:LCC), AMR Corporation (OTCMKTS:AAMRQ), Delta Air Lines, Inc.(NYSE:DAL), Southwest Airlines Co. (NYSE:LUV)

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.

Airline Industry & The U.S. Economy

"As if the federal government were not already doing enough to kill the U.S. airline industry with restrictive workplace rules, over-regulation, and a monetary policy that supports higher fuel prices, earlier this month anti-trust authorities at the Justice Department blocked the merger between American Airlines and US Air. (Unbelievably, the regulatory roadblock was thrown up more than a year after the two companies had agreed to terms, and after great expense has been incurred to integrate operations). Although long suffering investors had hoped that the merger would allow the beleaguered airline to finally exit bankruptcy, in the days after the surprise announcement, AMR stock almost fell as much as 60%.

Entire columns could be written on why the government had little reason to stop this particular merger, (the preponderance of other air carriers and transportation alternatives) or why the entire "anti-trust" apparatus of the government has done, and will do, nothing to support the living standards of average Americans, but the bigger story here involves the diminished scope of the airline industry in general. The difficulties that U.S. carriers face, which is the driver behind the current "urge to merge," provides us with clear insight into the health of the broader economy." - in Economic Policy Journal

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 1, 2013

Gold Will End The Year Higher Than It Is Today


"I think it will end the year higher than it is today, and I think it's ultimately going a lot higher. Right now, my view is a very, very minority view—very few people agree with me. By the time that the majority agrees with me — and they will eventually — the gold price is going to be up in the stratosphere." - in CNBC 

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