Category Archives: Videos

Marc Faber Blames Media for Stifling Gold Investment (Video)

CNBC’s Futures Now had an interesting conversation with Marc Faber today. Though brief, Faber’s insights into the gold market were spot on. He urged investors to avoid overpriced equities and buy into physical gold while it is still cheap. On top of that, he blamed the financial media for hamstringing gold and scaring investors away from one of the best hard assets for wealth preservation.

“Investors should have some exposure to gold. I have an exposure of approximately 25%, and just recently when it dropped, I bought some more… I think that eventually the monetary policies of central banks will lead to a further loss of purchasing power in the value of paper money. We have everywhere colossal asset inflation. Nothing is particularly cheap… Gold is relatively cheap compared with equities at the present time.”

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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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Posted in Interviews, Peter's Commentaries, Videos | 1 Comment

Oklahoma Makes Gold & Silver Legal Tender (Video)

The governor of Oklahoma just signed a law making gold and silver legal tender, beginning in November 2014. Following the leads of surrounding states like Texas, the law is another positive sign that some politicians are waking up to the importance of sound money and hard assets. The most important effect of the law will be a removal of sales tax from gold and silver purchases. Eliminating the 4.5% sales tax on gold and silver (the rate can be as high as 11% in some counties!) will essentially make precious metals that much cheaper for Oklahomans and encourage them to protect more of their savings with gold. Oklahoma Senator Kyle Loveless had this to say about the new law:

“This is a no-brainer. You wouldn’t tax a currency. You don’t tax the cash in your pocket… When you buy real estate or buy any investment, there is no tax on the purchase of it, and that’s what this is. It’s a nonsensical tax, I’m glad we were able to get rid of it.”

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History Channel Presents “The Gold Conspiracy” (Video)

Peter Schiff appeared in The History Channel’s short documentary “The Gold Conspiracy” that aired back in April. The program interviews precious metals experts like Peter and Jim Rickards to present the history of the gold standard and the latest theories surrounding the manipulation of the yellow metal’s price. The takeaway? Whether or not you buy into the conspiracy plots, the price of gold is still far less than it would be if the US dollar were still on a gold standard. Any gold manipulation is just an opportunity to buy the metal at a discount before the dollar collapses.

“The Founding Fathers wanted to limit government and one of the ways you limit the power of government is with a gold standard. The government can only spend money if it can collect gold and taxes. So by going off the gold standard, there is no limit to how much money the government can create, so there’s no limit to the size the Federal government can grow.”

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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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Was America Built on Debt? (Video)

Earlier this week, CNBC’s Steve Liesman revealed how backwards mainstream economic thinking is when he made the argument that America needs more consumer debt to have a healthy economy. Contrary to common sense and generally accepted knowledge, Liesman argued that America was built on debt and that consumers need to be taking on more of it. Peter Schiff wasn’t going to let these economic fallacies slide and tore into Liesman’s arguments on his radio show yesterday.

“Consumer credit was the cancer in the American economy… The smart thing to do, if you’re worried about the future… You should be paying off your debts. You should be creating a cushion. What about saving for a rainy day? Here you’ve got Steve Liesman saying, ‘No, no, go out and borrow for a rainy day.’ … You can’t borrow for a rainy day, because then you’re going to get soaked! This is asinine.”

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Steve Forbes: Return to Gold Standard for Economic Stability (Video)

Forbes Media Chairman and Editor-in-Chief Steve Forbes spoke with Reuters about his new book Money, which makes the case for reinstating the gold standard.

“If you don’t get money right, then the rest of the economy is going to have subpar growth. Since we went off the gold standard in 1971, the average growth rate in this country is about 1% less than between the end of WWII until the early 1970s. If we’d had those normal growth rates, this economy in the US would be 50% larger than it is now… When we don’t have stability in money, then you get less productive investment… and a lower standard of living.”

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Phony Economy Needs to Collapse (Video)

Peter Schiff spoke with Hedgeye TV CEO Keith McCullough this week on “Real Conversations”. Peter discussed his debate with Nouriel Roubini from last week, explaining why Keynesian economists like Roubini are dead wrong when they argue that deflation is bad for the economy. Peter also explained his precious metals strategy based upon what he expects the government to do, not what he hopes it will do. This is an excellent, relaxed introduction to Peter’s investment philosophy.

“If the government acted responsibly, that would counter my [gold] investing thesis. But I’m investing the way I’m investing because I’m sure the government is not going to be responsible. They’re going to be reckless, they’re going to keep on printing money until we have a currency crisis. And so I’m prepared for what I think is going to happen…”

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Posted in Interviews, Peter's Commentaries, Videos | 1 Comment

Brace for Impact (Audio)

Peter Schiff spoke with the SGT Report this week, discussing the inevitable decline of the US dollar due to the Federal Reserve’s unrepentant inflationary policies. Peter says that the Fed has locked itself into a box, and no matter how it chooses to escape, it’s already killed the dollar. They also discussed the end of the London Silver Fix and the logic behind keeping your savings in commodities like physical gold and silver.

“[If central bankers are now striving to create inflation] why would anyone want to hold on to dollars, or euros, or yen? The bankers are telling you that it’s a no-win proposition for you, that if you hold this currency… it will be worth less than the year before… [That’s what they’re admitting their goal is] – We do not want our money to hold its value. We want to make sure that money loses value, because we believe that the only way you can have economic growth is if you destroy the value of your money.”

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A Different Type of Housing Bubble (Video)

Peter Schiff appeared on Fox Business this morning to debate whether or not the US housing market is actually recovering. Peter argued that another bubble is forming in housing, but it is different from the last. If you’re thinking about getting back into real estate instead of buying physical gold or silver, you might want to reconsider.

“The Federal Reserve inflated the first housing bubble… But there’s a big difference between the bubble they’ve created this time and the last one… This is a Wall Street bubble. The average American is too broke to buy a house. Home ownership rates are at 19 year lows. Most Americans are renting… All the construction was in multi-family.”

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