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Peter Schiff on Detroit and Bernanke’s Gold Ignorance (Video)

In his most recent video blog, Peter Schiff explains how the bankruptcy of Detroit is a microcosm of the what is happening on a larger scale with the entire US. He also explains how frightening it is that Ben Bernanke admitted that he doesn’t understand gold.

“[Bernanke is] the head of a central bank. Gold is a monetary asset. Central banks hold gold as reserves… How can our chief central banker admit that he doesn’t understand gold? … It’s kind of like a coal miner having no idea what that canary is doing in a coal mine. Maybe the canary drops dead and the coal miner [says], ‘What’s up with that canary?’ And then just going about his day… If he doesn’t get out of that mine, he’s going to die too! … Gold tells you if your monetary policy is correct.”

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Today’s Key Gold Headlines – 7/23/13

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Bernanke Doesn’t Understand the Great Depression (Video)

If you missed Ben Bernanke’s testimony last week, you can listen to Peter Schiff tear apart the lies of the Fed Chairman in this short video from The Peter Schiff Show.

“[Bernanke] doesn’t see any difference between normal monetary policy and the quantitative easing that he’s doing now, these extraordinary measures? He said, ‘I don’t think so’ in answer to the question, ‘Are your monetary policies causing credit to be misplaced?’ I don’t think so? That is the direct intent of the policy. He implemented the policy to bring interest rates down to a level below their natural rate. He is trying to influence interest rates and direct the flow of credit to housing and government and away from other sectors.”

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Today’s Key Gold Headlines – 7/22/13

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Bernanke Admits To Congress: We Are Printing Money, Just ‘Not Literally’

Forbes published an excellent summary of Ben Bernanke’s congressional testimony this week, highlighting the Fed Chairman’s ridiculous flip-flopping as he answered questions with whatever story suited his needs – one minute the economy is recovering, the next it isn’t doing so hot.

“In his semi-annual testimony before the House Committee on Financial Services, Fed Chairman Ben Bernanke was very clear about how the central bank engages in quantitative easing. We are printing money, just not literally, the Chairman told policymakers, while contradicting himself regarding recent record highs in stock markets, first attributing them both to the strength of the economy and the impacts of monetary policy. The market didn’t seem to care, rallying tepidly upon the release of the prepared remarks and remaining range-bound through most of the session.

‘Where does the Fed get the money to buy [assets],’ Congressman Keith Rothfus asked the Chairman. ‘Do you create the reserves,’ he queried in a follow up, receiving a simple ‘yes’ from Bernanke. And finally, the money shot: are you printing money? ‘Not literally,’ the Fed Chairman surprisingly responded.”

Read the Full Commentary

Bernanke Testifies At Senate Hearing On Semiannual Monetary Policy Report

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Today’s Key Gold Headlines – 7/19/13

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The Powerful Case for Silver

Peter Schiff released a special new research report last week, The Powerful Case for Silver. In his latest commentary, Peter summarizes the report’s major arguments for why silver is an essential part of a diversified precious metals portfolio.

“I am a well-known ‘gold bug’ because of my strongly voiced opinion that gold has been one of the best assets for protecting yourself from the US dollar’s prolonged decline.

Lately, the precious metals have taken a beating, and I’ve been called to defend gold’s future prospects in the media countless times. While I am confident that gold will rebound with a vengeance before long, I think investors are potentially missing an even greater opportunity in that other monetary metal: silver.

To address this oversight, I have compiled a special report called The Powerful Case for Silver, which is available at www.schiffsilver.com. This 14-page report report contains in-depth analysis of what I believe to be the strongest arguments for owning the white metal. What follows is a general overview of the key arguments I make in the report.”

Continue Reading the Full Commentary

OR

Download The Powerful Case for Silver Now

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Today’s Key Gold Headlines – 7/18/13

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New Report: The Powerful Case for Silver (Video)

Peter Schiff has just released a new research report – The Powerful Case for Silver. The report gives an in-depth analysis of silver’s fundamentals and its unique potential to grow your wealth. Watch Peter introduce the new report in the video below, or:

Download The Powerful Case for Silver Now

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Peter Schiff: “All Evidence Points to Recession”

In an exclusive interview with Jimmy Mengel of Outsider Club, Peter Schiff talks about the inevitability of another major recession thanks to the Fed’s unending stimulus. Enjoy.

“I think [the Fed will] step on the gas and roll [QE] up to 125 billion or 150 billion. Because it’s like drugs and a tolerance. The economy is so addicted to QE, that the more you maintain it, the more the economy needs to stay high. As the bubble gets bigger, the more air you need to sustain it.

So I don’t think $85 billion is enough. They’re going to have to take it to $125, $150, $200 billion, $250 billion… They’re going to have to do it bigger and bigger. The minute they stop, it’s going to implode.

The more easing we do now, the bigger the government gets, as the national debt gets bigger and bigger. The Fed has to monetize more debt.”

Read the Full Interview

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