Calls to Action
Archives
- October 2014
- September 2014
- August 2014
- July 2014
- June 2014
- May 2014
- April 2014
- March 2014
- February 2014
- January 2014
- December 2013
- November 2013
- October 2013
- September 2013
- August 2013
- July 2013
- June 2013
- May 2013
- April 2013
- March 2013
- February 2013
- January 2013
- December 2012
- November 2012
- October 2012
- September 2012
- August 2012
- November 2011
- September 2011
Recent Comments
- Michael P. Shipley on Euro Pacific Precious Metals Is Now SchiffGold
- sell diamonds ny on Destroying the Dollar a Penny at a Time
- Gold and silver buyers on Why Is China Buying So Much Gold?
- Lloyd Bardell on The Swiss Want Even More Economic Freedom (and Gold)
- Klaus on Every Janet Yellen Press Conference Ever in Under 4 Minutes (Video)
Author Archives: admin
Fed’s Announcement and Precious Metals
As expected, today the Fed announced it will expand its balance sheet by continuing to purchase long-term Treasuries after Operation Twist expires. The Fed remains committed to buying government debt and keeping interest rates near zero until unemployment drops to 6.5%, which it admits probably won’t happen until 2015. Surprise, surprise, gold prices rose on the news, and the dollar fell. More news sources are noting the record sales of American Eagle gold coins in November, and alongside some other recent articles, it’s a good time to think of what the future holds for precious metals:
Morgan Stanley backs gold, corn, soybeans as best picks 2013
Silver gains favor as investment asset
Posted in Daily Gold Headlines
Comments Off on Fed’s Announcement and Precious Metals
Bond Market Bubble on Fox Business (Video)
Peter Schiff appeared on Fox Business yesterday, discussing the future of the bond market and the dollar in relation to the value of gold.
“In 1971, when we went off the gold standard, in the next seven or eight years, the dollar lost two thirds of its value. That’s why oil prices went from three dollars to thirty dollars. That’s why we had all the inflation in the 1970s. I think the decline that’s coming from the dollar is going to be much bigger than what we saw in the 1970s. The fundamentals are much worse. Meanwhile, over the last five years, ten years, the dollar has been going down.”
Posted in Interviews, Videos
Comments Off on Bond Market Bubble on Fox Business (Video)
Ditching Before the Fiscal Cliff
In the December edition of Peter Schiff’s Gold Letter, Peter examines the booming sales of physical bullion and how wise investors can prepare for the real fiscal cliff:
“The figures are astounding. For US Gold Eagle coins, mint sales are up some 150% from the QE3 announcement on September 13th. Despite what the spot prices show, there has been a tremendous surge in people buying physical gold.
But why hasn’t this translated into higher spot prices?”
Posted in Peter's Commentaries
Comments Off on Ditching Before the Fiscal Cliff
Peter Schiff on CNBC’s Closing Bell (Video)
On Friday, Peter appeared on CNBC’s Closing Bell to talk about his recent commentary in The Wall Street Journal, explaining why raising taxes on the wealthy will do nothing to solve the debt problems of the US. Read his full op-ed here.
“You know what the wealthy are going to do? They’re going to invest more abroad, they’re not going to work as hard, they’re not going to pay as much in taxes, they’re not going to employ as many people, their employees aren’t going to pay the taxes…”
Posted in Interviews, Peter's Commentaries, Videos
Comments Off on Peter Schiff on CNBC’s Closing Bell (Video)
The Long-Term Bull Market In Gold
Metals Analyst Kira Brecht published an incisive commentary on Kitco yesterday on the long-term gold trend, examining the relationship between gold and the quantitative easing of central banks:
“But, what will it take to kill the long-term bull market in gold? Listen up folks and listen good. There is nothing on the near or medium term horizon that could kill the long-term bull market in gold.
Why? The answer is quite simple and lies in the hands of global central banks, with their pedals still pressed to the floor with unusual and historic monetary policy accommodation and easing.”
Posted in Outside Commentaries
Comments Off on The Long-Term Bull Market In Gold
Gold’s Uptrend is Still Intact (Video)
Peter Schiff spoke on Yahoo Finance’s Daily Ticker yesterday about the bullish case for gold in relation to the looming fiscal cliff.
“The price of gold has barely gone down. The uptrend is still intact, and I think gold is going to go a lot higher. Particularly if we avoid the fiscal cliff. Avoiding the fiscal cliff is actually bearish for the dollar, bearish for the US economy, and bullish for gold.”
Posted in Interviews, Videos
Comments Off on Gold’s Uptrend is Still Intact (Video)
Schiff on CNBC: Other Cliffs Await the US Economy (Video)
CNBC Asia had Peter Schiff on for the second time in a week to discuss the true implications of the fiscal cliff, and what is really needed to keep the US economy from facing even worse predicament. Are you prepared if the dollar plunges?
“Government spending isn’t stimulative, it’s a sedative…So we need real cuts in government spending…But nobody wants to talk about that…because, unfortunately, what is good politics is lousy economics…What’s going to happen is the dollar is going to plunge eventually, and interest rates are going to go up and we’re going to be in the same situation as Greece, and what are we going to do?”
Posted in Interviews, Videos
3 Comments
China Understands the Safety of Gold – Do You?
The media has stirred up a lot of fear about the possibility of actually going over the fiscal cliff in the new year. However, Peter Schiff maintains that the cliff is an essential step in repairing the economy. He also continues to stress how much safer gold is than dollar-denominated assets, especially Treasuries:
“There is no question that the Treasury market is a classic bubble. The prices make no sense, fundamentally. The US government is able to borrow at much lower rates today than it could five…[to] thirty years ago, despite the fact that it is less credit worthy today than it was back than…It’s a mania. People are buying because they expect a greater fool to pay an even higher price. And eventually it’s going to burst. And when it does burst, it’s going to have a much greater impact on the global economy, and particularly on the US economy and the average American, than did the bursting of the real estate bubble or the internet stock bubble.”
Some news from China in the past several weeks drives home just how out of touch Americans are when it comes to understanding the value of gold. Check out the following articles and commentary. In China, the demand for gold is rising and the government seems to officially recognize it as real money. The last piece, by Jeff Clark at Casey Research, is a fascinating examination of the Chinese mindset towards gold.
China eyes 450 T gold output in 2015, consumption to rise
China Moves Forward in Opening Gold Market
Casey Research: How Do the Chinese View the Gold Market?
Posted in Daily Gold Headlines, Outside Commentaries
Comments Off on China Understands the Safety of Gold – Do You?
Ponnuru vs. Peter on Fed Monetary Policy (Video)
Peter Schiff had a lively discussion yesterday with Ramesh Ponnuru, senior editor at National Review, about whether or not the Fed’s loose monetary policy can be blamed for low interest rates and the stagnant economy. Who do you agree with, and are you prepared to protect your wealth if Peter is right?
“Aren’t the loose policies encouraging more of the very activity that created the problem? Aren’t we awarding people for spending, consuming, gambling? Aren’t we discouraging people from saving and investing? Aren’t we enabling the government to get larger, instead of forcing it to confront the enormity of the imbalances and shrink government spending? They don’t have to do that, because the Fed gives them an easy way out!”
Posted in Interviews, Videos
Comments Off on Ponnuru vs. Peter on Fed Monetary Policy (Video)
Bernanke throws the dollar over the Currency Cliff (Video)
In his latest video blog post, Peter Schiff dissects the inflation and unemployment figures Ben Bernanke said the Fed will look for to determine when to raise interest rates. Of course, Bernanke’s supposed benchmarks have a lot of wiggle room, and that ultimately means the continued debasement of the dollar.