Monthly Archives: December 2013

They Bravely Chickened Out

In his latest commentary, Peter Schiff blasts Congress for the feeble budget agreement made this week. It’s becoming obvious that Washington has no intention of addressing the financial calamities that lie before us until it is too late. Make sure you’re prepared when it comes time to abandon ship!

“Earlier this week Congress tried to show that it is capable of tackling our chronic and dangerous debt problems. Despite the great fanfare I believe they have accomplished almost nothing. Supporters say that the budget truce created by Republican Representative Paul Ryan and Democratic Senator Patty Murray will provide the economy with badly needed certainty. But I think the only surety this feeble and fictitious deal offers is that Washington will never make any real moves to change the trajectory of our finances, and that future solutions will be forced on us by calamity rather than agreement.

There can be little doubt that the deal resulted from a decision by Republicans, who may be still traumatized by the public relations drubbing they took with the government shutdown, to make the 2014 and 2016 elections a simple referendum on Obamacare. Given the ongoing failures of the President’s signature health care plan, and the likelihood that new problems and outrages will come to light in the near future, the Republicans have decided to clear the field of any obstacles that could distract voters from their anger with Obama and his defenders in Congress. The GOP smells a political winner and all other issues can wait. It is no accident the Republican press conference on the budget deal was dominated by prepared remarks focusing on the ills of Obamacare.”

Read the Full Commentary Here

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Posted in Peter's Commentaries | 1 Comment

Today’s Key Gold Headlines – 12/13/13

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Santelli & Stockman: Budget Deal Is a Joke (Video)

As usual, the mainstream news has been looking at the US budget deal through rose-colored glasses. In this short video, Rick Santelli and David Stockman tear apart the bi-partisan budget “solution,” noting that it’s just another game of kick-the-can.

“There’s not a chance anything will be done about the fiscal equation, which is festering, until 2017. And if you get around to addressing it, you can’t have an impact until 2018 or 2019. Now who thinks we can wait that long? We have $17 trillion of debt now… It will be $21 trillion after the next presidential election.”

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$20K Gold Is Still to Come

Casey Research published an interview with economist, professor, and financial advisor, Krassimir Petrov, who is a long-term precious metals bull, like Peter Schiff. While Petrov believes gold’s correction is ongoing (meaning it remains a great time to buy), he argues that this is just a temporary setback in a huge bull market that will last much longer than mainstream analysts predict.

“First, I do expect that the stock market is going to lose significant value over the next five to ten years. Second, I believe that real estate is still grossly overvalued; as interest rates eventually rise, real estate will fall hard—overall, it will not hold value well. Third, I also believe that bonds are extremely overvalued and that yields are extremely low. I expect interest rates to begin to rise and bond prices to fall, so I strongly discourage investors from staying in bonds. Finally, I expect that governments will continue to inflate, even though it doesn’t work, and that currencies will devalue.

I strongly encourage investors to stay out of all four of these asset classes. Investors should be staying well diversified in commodities. They shouldn’t ignore food—agriculture. They shouldn’t ignore energy. But their portfolios should be dominated by precious metals.”

Read the Full Interview Here

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Today’s Key Gold Headlines – 12/11/13

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Gold Remains the Best Insurance against Economic Uncertainty

This week, in a commentary published by The Telegraph, John Ficenec defended gold’s history as the ultimate safe haven asset, arguing that the fundamentals for the yellow metal remain sound even if the price correction has spooked speculative investors. Long-term physical gold bulls continue to hoard the yellow metal to protect themselves from the inflationary money-printing of the world’s central banks.

“The market price of gold may have fallen during the year, but hoarding of the precious metal by central banks and private individuals is approaching record levels.

In trading terms, it has been a tough year for the yellow metal. The price of gold has fallen 28pc during the past 12 months. However, the fundamentals, characteristics and attractions of gold are undiminished because we remain in times of extreme intervention by governments around the world, the outcome of which is completely unknown.”

Read the Full Article Here

telegraph gold

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Today’s Key Gold Headlines – 12/10/13

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2014 Crash? London Real Interviews Peter Schiff (Video)

Peter Schiff was a guest on the alternative media program London Real with host Brian Rose. This hour-long conversation is geared towards a younger audience and is a great introduction to Peter’s investment philosophy. Alessio Rastani, known as the “Robin Hood of Wall Street,” also joined the conversation. Rastani believes the US is due for a major crash in 2014, and he discussed the possibilities with Peter.

They go on to discuss Peter’s political sentiments, bitcoins, the mainstream media, the gold standard, and much more.

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Posted in Interviews, Videos | 1 Comment

Today’s Key Gold Headlines – 12/9/13

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Time for Gold Bugs to Admit Defeat?

Don’t forget to read Peter Schiff’s Gold Letter released this week. It includes a persuasive commentary from Jeff Clark, who argues that the correction in the gold market over the past year is just a temporary set back in a larger bull market.

“Gold’s price has fallen by more than a third since its 2011 high. The downturn exceeds the 2008 waterfall sell-off. Many technical analysts are saying that the ‘damage’ on the charts is too great for gold to recover. The rout is so bad that even hardened goldbugs have grown quiet lately.

Is it time for gold investors to admit defeat?”

Read the Full Commentary Here

Casey Big Selloffs in Bull Markets

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