Monthly Archives: November 2012

Gold and Obama’s Reelection (Video)

Peter Schiff explains why he thinks the European economic crisis and the Greek voters are part of the reason Obama was reelected. While Obama can legitimately claim that he inherited a lousy economy from Bush, the economy he has created for his second term is dramatically worse. The second term of Obama’s presidency is going to see currency and sovereign debt crises that will hurt the people who “played it safe” by investing in government bonds. Gold and silver represent an excellent safe haven for people around the world who seek to avoid the repercussions of the United States’ crazy monetary policy, which Obama isn’t likely to change in the next four years.

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When Infinite Inflation Isn’t Enough

From the November edition of Peter Schiff’s Gold Letter:

If no one seems to care that the Titanic is filling with water, why not drill another hole in it? That seems to be the M.O. of the Bernanke Federal Reserve. After the announcement of QE3 (also dubbed “QE Infinity”) created yet another round of media chatter about a recovery, the Fed’s Open Market Committee has decided to push infinity a little bit further. The latest move involves the continuing purchase of long-term Treasuries when Operation Twist expires, thereby more than doubling QE3 to a monthly influx of $85 billion in phony money starting in December. I call it “QE3 Plus” – now with more inflation!

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