In his latest video blog post, Peter Schiff looks at last week’s jobs numbers and gold’s rally thus far in 2014. He also comments on Janet Yellen’s press conference and her obvious lies about the effects that Fed policy is having on the economy.
“Wall Street is still extremely skeptical of gold’s rally. Everybody expects that this rally is a head fake, that it’s going to reverse, and that gold is still headed much lower in 2014. I think that a lot of people that are anticipating lower gold prices are going to be surprised.”
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Clear, concise, and to the point. You are right on Peter.
.. Love to assign viewing this commentary to several Senate/Congressional leaders and listen to their response and committment to act !!!!!… wishful thinking!
Peter
I am a EuroPacific client. I believed we were heading towards inflation, because of the money printing; however I am not so sure anymore. The feds are creating money, but not by way of actual printing. They create it by adding zero’s to an account. In this way there is no gross expansion of the money supply in the economy and therefore no inflation. Also, the banks deter people from taking large sums of cash from there bank accounts(New home land security laws). I told teller that I wanted to withdraw $6K from my bank account and they interrogated me like I was attempting to commit a crime. With banks deterring people from withdrawing cash money from their accounts and being able to create money without actually printing(adding zeros to an account) I no longer see inflation, but a long stagflation, in which current policies of the feds could continue indefinitely; similar to Japan. Please respond!! Concerned client.
Isn’t it possible – and even more likely – that the staggering amount of US debt can not be inflated away? That the only outcome will be crashing deflation? Sure, the Fed will try to inflate and gold will rise accordingly but when inflation does not stabilize the economy the eventuality will be a massive deflationary crash.
Thoughts?
Peter, Karen Hudes says the Fed. has hidden our gold reserves in the Phillipines and that we can expose the fed. for the criminals they are, tell them we do not owe them interest on the debt, and reclaim our gold reserves and reclaim our economy. I hope she is right. What do you think?
If Peter was running our country we wouldn’t be in the God Awful mess we are in!
I believe your right. The only fly in the soup is : Yellen has a printing press at her disposal. Helo Ben picked a bird of feather to replace himself. The banksters will have a lot of paper to continue to short the metal markets as J.P.Morgan/Chase has through out 2013. But then, the dollar is struggling to hold on to the low 80’s. Their shorting has slowed allowing the rise in the gold price
Peter,
Isn’t it possible that the increase in Gold is because of the Chinese New Year and that the Chinese give Gold as gifts. This will also occur in the spring as India starts to buy Gold for their June weddings.
Why should corporate America spend capital to expand plant and capacity if there is not prospect of consumer spending.? Why would they wish to increase capacity?
If they spend on productivity that is not likely to increase employment?