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- Henry Toledano on Are Government Bonds Really ‘Safe’?
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Monthly Archives: January 2013
A recent video by the World Gold Council reviews a report on the future of the global economy published by the Official Monetary and Financial Institutions Forum. The report examines the important role China’s currency will play in creating a multi-currency reserve system, and thus why gold will remain an important asset.
“Whether the world moves into full crisis with the end of the euro, or whether we have a recovery, or whether we experience something in between: all paths lead to towards a multi-currency system, in which gold’s role is likely to become more significant.”
Peter Schiff appeared on Fox Business today to talk about the stock market’s poor performance last quarter and the real trouble that lies ahead for the US economy and dollar-denominated assets:
“The temporary euphoria of the stimulus is wearing off. The hangover is setting in. As bad as things were during the Obama recovery, wait until you see how bad it’s going to get during the Obama recession. And I think the Fed, of course, is getting ready to up the dosage of the stimulus. A lot of people were thinking the Fed was going to take away the money or stop the stimulus. They’re not going to do it. They’re going to have to up the dosage, because 85 billion dollars worth of money printing isn’t enough. That’s how addicted we are to this cheap money.”
Doug Casey of Casey Research hosted a wide-ranging interview with Peter Schiff, making for an entertaining and insightful conversation about the state of the global economy and what investors can do to prepare for the future.
“In order for [gold to hit $5,000], I think more people are going to have to recognize what’s going on…It all depends on perception. I think the average investor – certainly people who are running big money for other people, the institutional money – I think these guys are clueless with respect to the true state of the global economy, what’s likely to happen to the value of the dollar and other fiat currencies, [and] how much inflation is likely to be created.”
In light of the recent spikes in the price of platinum and palladium, it might be worthwhile checking out CPM Group’s 2012 Platinum Group Metals Long-Term Outlook Report, released earlier this month. The report is a comprehensive study of the long-term fundamentals of PGMs, looking forward to 2022.
“Over the next ten years CPM Group expects PGM prices to increase at a strong pace. Platinum and palladium prices may break historical record nominal highs to test unprecedented levels. Investors have played an important role in the PGM markets for decades. In the past decade, however…the investor base has been expanding, and many more investors are participating in the PGM markets.”
On Sunday, the NY Post spoke to working New Yorkers about their new taxes, and none of them were excited about it. Peter Schiff had his two cents to contribute:
“In my tax bracket, for every dollar, I will make 50 cents. That means half my income will go to taxes… Society loses because more money is sent to the government to be spent. Instead it would have been money used to grow the economy.”
EXCLUSIVE – The Oprah Winfrey Interview we should have seen: Ben Bernanke Confessing to Years of Performance-Enhancing Economic Doping.
Anthony Wile interviewed Peter Schiff for The Daily Bell this past weekend. This is a long and thorough examination of Schiff’s worldview and investment advice – a great introduction for those new to the concepts of sound money and government manipulation of the marketplace.
“I think we’re going to have a crisis. I think it’s going to be a real collapse and that’s going to be the catalyst, potentially, for constructive change. But until there’s a crisis it’s going to be more of the same until more of the same precipitates the crisis.
I think in the meantime we prepare personally, we get our investments in order, we make sure we have our money invested properly so it’s not a financial crisis for us, it’s just an economic crisis for the country – not that I want to belittle that but I think it’s important that you not go down with the ship financially, that you put yourself in a position to be able to help other people by being in a lifeboat.”