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Cyprus Depositors Should Have Owned Gold (Video)

Peter Schiff’s latest video blog explains the Cyprus bailout’s effect on depositors, and how the United States will face a much worse situation.

“If you think your money is at risk in a bank and you pull it out, what are you going to do with it? Well, putting it in gold is a great alternative. In fact, if you had euros deposited in a Cyprus bank, now you’ve lost…close to 10%…of your euros. But if you had gold in a safety deposit box in a Cyprus bank, you haven’t lost an ounce. So the people who have gold are whole, and those who have euros…they’ve had a loss. So this highlights the safe haven aspect of gold.”

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Today’s Key Gold Headlines – 3/18/13

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Inflation Is Driving the Market (Video)

Yesterday, Fox Business interviewed Peter Schiff about the latest report on retail sales and the false confidence of stock market investors.

“The increase in retail sales is mainly the result of prices going up. Sure, people are spending more money, because things cost more. In fact, the increase in import prices matched the increase in retail sales. Of course, if you look at the savings data that came out last week, where the savings rate plunged – how are Americans supporting higher priced gasoline and higher priced food? They’re borrowing money, they’re digging into their savings. They’re struggling just to make ends meet.”

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Today’s Key Gold Headlines – 3/15/13

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Central Banks’ Diversification into Gold

The World Gold Council released a new report this week entitled “Central bank diversification strategies – rebalancing from the dollar and the euro”. It is well worth a read.

Gold has a long history as a reserve asset for central banks, and as such is considered a traditional one. Gold is statistically uncorrelated with other traditional reserves and new alternatives, making it one of the most important assets for diversifying out of the US dollar and euro. In line with this trend, central bank gold buying in the fourth quarter of 2012 marked the eighth consecutive quarter of net purchases by the official sector and the highest level since 1964.

Ashish Bhatia, Manager for Government Affairs at the World Gold Council said:

“Building gold reserves in tandem with new alternatives is an optimal strategy as central banks remain under-allocated to gold and many attractive alternatives are either too small or, as is the case with the renminbi, not yet open to broader international participation.

“Gold has a deep and liquid market with no credit risk, making it one of the most attractive assets for central banks to consider as they diversify away from the US dollar and euro. Gold’s tail-risk hedging properties add to its appeal as a particularly valuable component of a diversified reserve portfolio.”

Continue Reading and Download the Full Report Here

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Today’s Key Gold Headlines – 3/14/13

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Long-Term Forecast for Gold – 2014 and Beyond (Video)

In an exclusive precious metals video, Peter Schiff explains the correction in gold and silver, and why this is the perfect opportunity to allocate precious metals to an IRA.

“The truth is, our problems are largely in front of us, not behind us. The only reason that the economy appears to be recovering and the stock market appears to be rising is the government is debasing the money. The Federal Reserve is printing money, call it quantitative easing…it’s old fashioned debt monetization…Ultimately, it’s going to go right back into gold and silver.”

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Today’s Key Gold Headlines – 3/13/13

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Peter Schiff & Silver Circle in NYC

If you’re going to be in New York City on March 22, you might want to join Peter Schiff at the opening of the movie Silver Circle. Set in 2019, Silver Circle is about a corrupt Federal Reserve and the rebels who rise to fight it with an underground silver currency.

The legendary foe of the Federal Reserve will be in attendance on opening night in New York City. Peter Schiff recently watched a confidential, special copy of the film and found it “clever” and jumped on board to take part in our big night. Silver Circle opens in New York for a week-long release at Cinema Village on E. 12th St. in Manhattan. We’ve got tons of fun planned for opening night! Peter Schiff will be joining us for the 7:10pm showtime and will speak afterwards in an exclusive Q&A opportunity for audience members. He’ll also be introducing the 9:15pm showtime, so you have two options to talk with Peter Schiff and see our movie all in one night! Can’t beat that!

Click Here to Learn More About the Movie and Book Tickets

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Today’s Key Gold Headlines – 3/12/13

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