Category Archives: Interviews

Peter continued his interview on CNBC yesterday, talking about silver alongside Pan American Silver CEO Geoffrey Burns, who predicts $50 silver at some point in 2013. Both Peter and Burns emphasized the long-term strength of precious metals in spite of short-term losses:

“You’ve got a perfect storm coming in the future, because miners aren’t going to be able to produce enough of this stuff, because it costs so much money to get it out of the ground. Yet the supply of paper money is going to go through the roof, just at the time that the supply of gold and silver is shrinking. And all of a sudden, you’re going to have the whole world waking up to this inflationary nightmare…”

Peter Schiff spoke yesterday on CNBC’s Futures Now to hammer home the point that gold is a long-term investment that offers protection from volatile fiat currencies:

“Well, you have this record physical demand. Not only in America, but around the world. I mean, think about it: what are you going to do if you want to save your money? …You’re going to hold dollars at zero percent with Ben Bernanke promising to print to infinity? You’re going to hold euros, you’re going to hold yen, the Chinese RMB? There’s no currency you can hold and be confident of its future purchasing power…People are figuring this out, they’re voting with their feet. They’re holding something with intrinsic value that has historically been money, that people like Ben Bernanke can’t print.”

Peter Schiff spoke with Rick Santelli on CNBC earlier today about the Fed’s monetary policy. Of course, the Fed has no intention of actually hitting the unemployment and inflation goal posts it has established, and ultimately the dollar is going to suffer:

“The dollar is actually going down against the euro. Pull up a chart, look at the dollar index. Look at the British pound: it’s almost at a fifty-two week high today. We’re going down against the pound…Look at the price of gold. Look at oil prices. Look at food prices. Ben Bernanke said he doesn’t care how high oil prices go, how high food prices go. He’s going to look beyond that to the value of falling prices that reside somewhere in his fantasy land.”

Peter Schiff made an appearance in the documentary Default America produced by KSLA in Shreveport, Louisiana. The collection of short videos examines America’s disastrous monetary policy, and the future of American prosperity. Peter is one of many notable guests, including Ron Paul, Gary Johnson, and various economics experts.

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.”

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.” 

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?”

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!”