Category Archives: Videos

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!”

Peter Schiff had a lengthy conversation with Lauren Lyster on Russia Today earlier this week. They discussed hidden inflation, the realities of our consumer economy, and the dollar as a reserve currency.

“People are underestimating around the world just how important cheap money is to our borrow and spend economy. And they’re overestimating the ability of the Fed to withdraw that liquidity and have the economy continue to grow on its own. It can’t. The growth that we’re having now is not legitimate growth. It is simply borrowed money that we’re spending and we’re counting that as economic growth.”

His interview begins at 2:45 in the video below.

Peter spoke on CNBC Asia yesterday about the US economy’s unhealthy dependence on foreign production:

“To the extent that the government gets more revenue, it should be consumption based. It should be taxing people for spending money, not earning money, not saving and investing their money…Right now the government is an enormous drain on the private sector…They’re preventing the private sector from producing the types of output that we need, so that we can produce goods to satisfy the demands of Americans and not rely on the rest of the world to supply us with that stuff on credit.”

Peter Schiff appeared today on CNBC’s Futures Now and spoke about how a deal to avoid the fiscal cliff will affect the gold price. He also discusses how since there is no limit to how low the value of fiat currencies can go, there is no predictable ceiling on the value of gold :

“…if we avoid the cliff, that is very bullish for the gold market, because it means that trillion dollar plus deficits will perpetuate. And these big deficits are what are undermining the dollar, because the Fed has to print money to finance them, and the more money they create…the higher the price of gold is going to go up.”