Monthly Archives: June 2013

In his latest appearance on Fox Business, Peter Schiff gets in a friendly argument about the hidden inflation obscured by phony government measurements. He also reminds investors that we’ve seen volatility like this in the gold market in the past, just before gold soared to new highs.

“The definition of inflation is an expansion in the money supply… The Fed is buying $85 billion a month of Treasuries and mortgages. Where do you think that money is coming from? It is being created into existence out of thin air by the Federal Reserve… Eventually our trading partners are going to stop absorbing our inflation. The dollar is going to tank… and all this inflation that we’ve been exporting is going to hit us like a tsunami.”

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Today, Peter Schiff appeared on CNBC to answer the question, “Should gold have ever been $1,900 an ounce in the first place?” Peter defends his long-term stance on gold and points out that the falling price of gold will soon have serious effects on the mining industry.

“We know at $1,200 [an ounce], the majority of gold mines can’t even mine [gold] profitably. So gold is now trading for less than the cost of producing it, and of course in order to produce it you have to own a gold mine, which is very hard to do. So the price of gold can’t stay down here for a long period of time, because then the gold companies will shut down and there will be no supply.”

Follow us on Twitter to stay up-to-date on Peter Schiff’s latest thoughts: @SchiffBlog

Peter Schiff recently spoke with Stefan Molyneux, host of Freedomain Radio, about the truth behind the gold market correction. Their wide-ranging discussion is an excellent introduction to how the economy reached the quagmire it is in now and how a healthy economy functions. Peter also gives advice on how to avoid and prepare for the real crash that is yet to come.

“Really what’s happened, there’s been a crash in confidence. There’s been a crash in investor expectations when it comes to the price of gold. There actually hasn’t been a crash in the price. I think the sentiment is wrong, that the public is wrong, that the professional investors are wrong. Remember – the guys that are ultra bearish on gold right now are the same guys that were extremely bullish when it was at the highs at 1900. The consensus doesn’t have a very good track record when it comes to gold.”