Saturday, February 27, 2016
Tuesday, February 23, 2016
On CNBC and his guest appearances, Schiff says, “CNBC used to have me on all the time before the 2008 financial crisis. Even though they thought I was saying all kinds of things they thought were crazy, they had me on just to be balanced. No one knew who I was, and I was saying all these outrageous things, but ever
You would think they would care about their audience, but I think they care more about their advertisers and their other guests that want to shill Wall Street products.”
- Source, USA Watchdog
at 9:11:00 AM
Friday, February 19, 2016
"Unless the Fed totally capitulates, this bear market is going to be brutal," Peter Schiff, head of Euro Pacific Capital, told CNBC's "Futures Now" on Tuesday. A bear market is loosely defined by a 20 percent drop from a recent high. The S&P 500 is down 13 percent from its May high.
"What we need to stop this bear market, is full-on quantitative easing from the Fed. Every time the market has corrected, since 2008, it's always been the Fed that's made the bottom," said Schiff. "The Fed has always saved the market either by cutting rates, launching QE or threatening to launch another round of QE. So, they're going to have to give the drug addicts on Wall Street what they want."
Schiff vehemently maintains that central bank policy has served as the most destructive force in the U.S. economy. The S&P 500 has fallen 9 percent since the Fed raised interest rates in December for the first time in nearly a decade.
For Schiff, the U.S. will stay in a recession and stocks will continue to fall unless there's a reversal in policy. "I think the bubble has already burst. The question is if the Fed is going to fill it back up with air before too much comes out," he said. "This is an election year and Janet Yellen is playing a game of chicken with the markets."
The Fed critic has long voiced his opposition to monetary policy, but given the recent volatility, he is more convinced than ever that the Fed will have to reverse its course. "The only question now is how much longer the Fed will wait before it indicates rates are not going up, then cuts them to zero, launches QE4 and then lowers rates to negative," he said.
As far as his other bold predictions, Schiff maintains that gold will eventually hit $5,000 an ounce. "Gold is up $150 since the day after the Fed hiked rates," he noted. Gold has been the best performing asset in 2016. "Gold now has to reverse the last three years of loses because they were all based on a fantasy of a legitimate U.S. recovery. I think we're heading a lot higher."
Ultimately, Schiff believes gold will hit $1,300 per ounce in 2016 with potential to reach $5,000 in the coming years provided that the Fed cuts rates and relaunches QE.
at 9:08:00 AM
Tuesday, February 16, 2016
To say that 2016 — all two weeks of it — has been tough would be a vast understatement.
Global markets have seen more than $3 trillion in losses this year as a heap of selling has pushed stocks around the world either into correction or an outright bear market, according to data pulled by Howard Silverblatt of S&P Dow Jones Indices. However, as many on Wall Street point the finger at the collapse in oil prices and continued turmoil in the Chinese stock market, one market pundit says there's no one to blame but the Federal Reserve.
"I think the reason the market is going down is because the Fed pricked the bubble. The Fed raised rates," Peter Schiff, the head of Euro Pacific Capital told CNBC's "Futures Now" in a recent interview. Schiff is
"We are trying to rationalize it by pretending what's happening in the U.S.
at 9:05:00 AM
Wednesday, February 10, 2016
Sunday, February 7, 2016
at 6:15:00 AM
Wednesday, February 3, 2016
Gold prices plunged more than 2 percent Thursday on the heels of the first Federal Reserve interest rate hike in nearly a decade. The commodity is now sitting near its lowest level since 2010, and with 8 ½ trading sessions left in 2015, the commodity is on track for its third straight year of losses — which would be the longest losing streak since 1998. But despite the horrid returns, one noted gold bug is sticking to his claims that the commodity could soon surge.
On CNBC's "Futures Now" Thursday, Peter Schiff stood behind his previous call that gold will reach $5,000. "It's still going to go there," said Schiff when he was asked about his uber-bullish prediction. "I don't think there's that much downside [in gold] because I think most of this is already built into the price," he added.
at 6:13:00 AM
Monday, February 1, 2016
CEO of Euro Pacific Capital, Peter Schiff, joins economist, professor of business at the University of Maryland to discuss the Fed’s decision on interest rates, the cost of carpet bombing ISIS, and a report that people need $1 million or more to retire.
at 6:12:00 AM