Category Archives: Interviews

US Could Be in a Recession by End of Year (Video)

Peter Schiff appeared on Yahoo! Finance yesterday to explain why he thinks the US economy is going to get worse in the second half of 2014, in spite of better Q2 GDP numbers. If economic data were reported more accurately, Peter believes we would discover that the US has been in a recession for the entirety of the Obama presidency. As it is, he thinks there is a good chance we’ll enter an official recession before the end of the year.

“Look at the housing data. It’s been terrible. Look at all the corporate earnings that have been coming out, particularly companies that service the middle-class and the lower-class. Earnings are disappointing. I think it’s clear that the economy is rolling over. People are buried under a mountain of debt. Prices are rising for utilities, for food. People are losing their full-time jobs [and] replacing them with low-paying part-time jobs.”

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Gold’s Doing Fine, but the Dollar Is Being Propped Up (Video)

Peter Schiff appeared on CNBC’s Futures Now this afternoon to share his expectations for the price of gold following the Federal Reserve’s policy statement scheduled for later today. Peter also commented on what he expects from Q2 GDP numbers and why he thinks the US dollar isn’t nearly as healthy as everyone thinks. Finally, Peter emphasized that gold has had bad press in 2014, even though it has out-performed the stock market with an 8% rise in the first six months of the year.

“Gold has gone up every year but one since the year 2000. So if you’ve been calling for a rise in the price of the gold, you’ve been right every year except one. That’s not a broken record, that’s just understanding what’s going on and predicting a higher gold price. It’s the people that have been calling for gold’s demise every single year who don’t understand the fundamentals… No market goes up every single year… I know what’s driving the trend and that’s the central banks, particularly the Federal Reserve.”

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Doug Casey: I’ve Never Sold an Ounce of Gold (Video)

Peter Schiff interviewed Doug Casey on his radio show this week. First they discussed Casey’s new short documentary Meltdown America, which warns about the looming financial and monetary collapse due to reckless central bank policies. They move on to explain to the listeners why both Peter and Doug buy physical precious metals like gold and silver to protect themselves from the current historic bubbles in the bond and stock markets.

“I continue accumulating gold very regularly… It’s the only financial asset that’s not simultaneously somebody else’s liability. And I’m not interested in holding paper in the over financialized world that we’re in today… I think we’re on the edge of something much worse than what we had in 2008 and 2009. If I look around the world to places where you can put your capital, real estate is over-priced. The stock market is greatly over-priced. The bond market is in a historic bubble… So what are you left with?” –Doug Casey

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Go Bold with Gold

The idea of gold standard continues to become more mainstream, as people realize the current monetary regime is out of control. Judy Shelton writes in The Weekly Standard:

“Should the soundness of the dollar be subordinated to other policy objectives, as determined by a small committee of Federal Reserve officials meeting in Washington, D.C., eight times a year? Would private individuals make better economic and financial decisions if they knew the value of the dollar was not slated to deteriorate annually by some unknown percentage?”

Read the Full Piece Here

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The Consensus Is In – Market Ready to Crash (Video)

Peter Schiff appeared on Fox Business “Morning Bell” yesterday and discussed that when the stock bubble bursts, the Fed will likely try to save the bubble instead of the dollar.

“The bottom is either going to drop out of the market or the dollar – and I’m betting actually that it’s the latter. But the problem is if the Federal Reserve is prepared to sacrifice the dollar in order to save the market, real returns on US assets are going to suffer dramatically as a result.”

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Evolving Beyond the US Dollar Hegemony (Video)

Major news hit this week that the BRICS have launched their own development bank to challenge the currently Western-dominated banking system. Read about it here. Who could better explain the rationale behind this new bank than the author of the book Currency Wars, Jim Rickards? Rickards appeared on CNBC this week to share his thoughts. His message? The world is ready to leave the dollar behind and kick the irresponsible United States out of the economic driver’s seat.

“Every single member of the BRICS, multiple times has voiced dissatisfaction with the dollar, the dollar hegemony, the dollar-based system, and the IMF, which is really dominated by the US. So it’s not that there’s a revolution that happens overnight, but it’s more of an evolution away from the dollar.”

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Gold Is the Only Undervalued Asset in a World of Bubbles (Video)

In this long segment on CNBC’s Futures Now, Peter Schiff, Marc Faber, and Dennis Gartman discuss the massive bubbles forming in almost every asset class. Faber called for a potential bear market correction of 30% in US stocks. All three agreed that gold is the best option for retail investors to protect themselves from the Federal Reserve’s inflationary monetary policy.

“The only place there’s not a bubble is in gold, and that’s the only place that most people on Wall Street think they see one. They’re oblivious to the actual bubbles, but they’re overlooking the value in gold…”

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US Dollar Doesn’t Deserve to Be Reserve Currency (Video)

Russia Today spoke with Peter Schiff about the United States’ international spy activity and what effect it will have on the strength of the US dollar.

“[Europe is not economically dependent on the US.] I think it is the other way around – the US is very dependent on the rest of the world. It is just incumbent on the rest of the world to figure that out. But the US dollar is still functioning as a reserve currency, so the dollar is a part of larger transactions but there is no reason for the dollar to be at the center of these transactions because the dollar shouldn’t be a reserve currency. Maybe at one time when we were the world’s largest exporter, as far as biggest trade surpluses, we had high savings rates, and the dollar was backed by gold. [At] one time maybe the dollar deserved to be a reserve currency, but certainly those conditions have changed dramatically.”

Watch the Full Interview Here

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The Perfect Storm for Gold (Audio)

Chris Waltzek interviewed Peter Schiff on GoldSeek Radio last week. They began by discussing how the European Central Bank’s interest rate cut will influence the price of gold. They moved on to address the rising cost of living, Asian gold consumption, technical indicators of gold’s bottom, gold repatriation, buying precious metals with bitcoin, and much more.

“I think going into the second half of the year, people are going to be surprised by how weak the economy is… Yellen’s going to come back screaming for more QE. The gold market has to take off sometime between now and then… I think the problem that the traders are going to have is buying back the gold they sold… A lot of the gold that was dumped into the marketplace since the middle of last year is now very deep in some Chinese vault… It’s not coming back to the market. The people who bought gold at $1,300 or $1,400 – they ain’t selling it. They bought it to keep it, not to trade it.”

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Lou Dobbs & Peter Schiff: US Monetary Policy Is Destroying the Dollar (Video)

Lou Dobbs spoke with Peter Schiff about the latest jobs numbers on Fox Business last week. Dobbs agreed with Peter that the United States government needs to stop printing money and get out of the way for the American economy to truly repair itself.

“I think the economy continues to deteriorate beneath the surface. We have this superficial rise in the stock market. But I think this whole thing is headed to a dollar crisis. We’re going to print so much money to try to keep this phony economy going. We’re going to destroy the dollar, and we’re going to have a real crisis. But only after that real crisis do we have any hope of correcting the real problems.”


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