Category Archives: Videos

Peter Schiff appeared on CNBC yesterday to contribute his thoughts on the dire straights of the US Postal Service and the government deficit.

“I think what it shows you is it’s very good politics when our leaders talk about reducing the deficit in the abstract. But they can’t even make the small cuts. I mean, these are trivial budget cuts in the Post Office. They can’t even make them. And if they can’t do this, how are they going to agree to the more substantive cuts that we have to have.”

Peter Schiff continued yesterday’s appearance on CNBC’s Futures Now, talking about gold and all the reasons it is a great time to invest in precious metals:

“I think short term gold and silver look good. I think we’ve already had a pull back. And you know, all this talk about minting trillion-dollar coins simply shines a light on what is going on here in the US. That we are creating money out of thin air, we’re debasing the currency, and that’s a great environment for buying gold.”

Yesterday, on CNBC’s Futures Now, Peter Schiff spoke with Marc Faber who agrees that investors should avoid government bonds and buy gold. Peter commented:

“Marc Faber talked about a shake out in gold. We might have already had it. We’ve already shaken out a lot of the weaker players. It could be a time for a rally right now.”

Peter Schiff appeared on CCTV last night to discuss Congress’ upcoming debt ceiling debate. Peter predicts more political theater, with Congress proposing no real solutions for curbing spending:

“Congress is not going to act responsibly until it is forced to do so by a real crisis. I’m talking about a crisis that is similar to what’s going on in countries like Greece. We’re going to have to have a currency crisis, a sovereign debt crisis, where the world that is financing our profligacy stops doing it.”

Greg Hunter’s USAWatchdog had Peter Schiff explain his latest Gold Letter commentary addressing the Japanese government’s policy of debt monetization. Any way you slice it, the US government cannot rely on foreign banks buying US Treasuries forever.

“You gotta buy any dip [in gold]. Look, we’ve been in a bull market in gold for twelve years. This is not the first time gold’s gone down. Gold keeps going down, but every time it goes down, if you would’ve bought it, you would’ve done well.”

Peter Schiff appeared on Fox Business last night to discuss the impracticality of solving the US debt crisis with taxation. Everyone agreed – the government needs to cut spending if there is any hope of restructuring the economy.

“You’ve got the government trying to run these giant Ponzi schemes like social security. It’s not about tinkering with it. It can’t work. It is impossible to reform these programs in a way that is going to work. We have to acknowledge that. We’re never going to get the type of economic growth you’re talking about – 4 or 5 percent a year – unless we let the economy restructure. That means the Fed has to stop printing money. They have to let interest rates go up, because they’re much too low to encourage savings and investment.”

CNBC spoke with Peter Schiff on Friday about his positive outlook for gold. Peter emphasized that if you understand dollar debasement, gold is an obvious store of value no matter what the short-term trends look like:

“Take a look at how well gold has done relative to the stock market. The stock market has gone no where during a time period when gold has gone up several fold. I don’t care what happens day-to-day, month-to-month. You’re talking about long-term. Look, gold was up in 2012. It was up twelve consecutive years. The stock market hasn’t done that…I think we’re going to have two-trillion dollar deficits before Obama’s term is over…What is going to happen to the value of the dollar? They’re not mining that much gold, but they’re printing a lot of dollars.”