- Source, Schiff Radio
Friday, May 30, 2014
Jobs Mysteriously Vanish as Minimum Wage Increases
- Source, Schiff Radio
Wednesday, May 28, 2014
The Weather is Warming, but Despite the Hype the Economy is Not.
- Source, Schiff Report
Monday, May 26, 2014
Marxism Rebranded
- Source, Peter Schiff via Schiff Radio:
Saturday, May 24, 2014
Chinese Gold Demand to Rise 20% by 2017
A renewed weakness in the dollar and strength in oiland other commodities will add to gold’s appeal during 2014. Also, any major geopolitical concerns, particularly if there is a deterioration of the situation in Ukraine, will add to gold’s appeal. I also expect renewed physical demand from emerging markets like India and China.
The World Gold Council recently forecast that Chinese gold demand will rise 20% by 2017 from the current level of 1,132 metric tons a year.
The World Gold Council recently forecast that Chinese gold demand will rise 20% by 2017 from the current level of 1,132 metric tons a year.
- Source, Peter Schiff via MarketWatch
Thursday, May 22, 2014
Ultimately the Fundamentals of Gold Will Prevail
I thought that the selloff in 2013 was completely out of touch with reality, so I expected the price to rise this year. In this, I was virtually alone in the financial community. Just about every major investment house had predicted even more losses for gold in 2014.
So far this year, gold is the best-performing asset class, but I think the pullback we have seen over the last few weeks is just another indication of how much negative sentiment remains. Ultimately however, the fundamentals will prevail. The Fed will keep printing [dollars] and gold will keep rising.
So far this year, gold is the best-performing asset class, but I think the pullback we have seen over the last few weeks is just another indication of how much negative sentiment remains. Ultimately however, the fundamentals will prevail. The Fed will keep printing [dollars] and gold will keep rising.
- Source, MarketWatch
Tuesday, May 20, 2014
Reckless Fed May Push Gold to $5,000
Peter Schiff, chief executive officer of Euro Pacific Capital, has been known to make forecasts outside the mainstream, and his long-running belief that gold has the potential to hit $5,000 an ounce is no exception. Prices, after all, are struggling to get a grip on $1,300.
We caught up with Schiff to ask him how gold, a big disappointment for commodities investors last year, gets back its groove. Last year, gold futures and heavyweight ETF SPDR Gold Trust lost 28%, breaking at least eight years of annual gains.
First off, Schiff’s gold forecast isn’t brand new. The author of “The Real Crash — America’s Coming Bankruptcy” has talked about the possibility of gold hitting $5,000 or higher since at least 2011, when prices for the metal topped $1,900 in intraday trading.
Schiff reiterated his call on the potential for $5,000 gold and beyond during a heated debate with Paul Krake of View from the Peak CNBC’son “Futures Now” episodeposted on April 15.
In an email interview with MarketWatch this week, he offered his thoughts on exactly why he expects gold prices to continue to climb and under what circumstances, what it would take to change his bullish outlook on gold and whether prices for the metal have already hit bottom this year.
We caught up with Schiff to ask him how gold, a big disappointment for commodities investors last year, gets back its groove. Last year, gold futures and heavyweight ETF SPDR Gold Trust lost 28%, breaking at least eight years of annual gains.
First off, Schiff’s gold forecast isn’t brand new. The author of “The Real Crash — America’s Coming Bankruptcy” has talked about the possibility of gold hitting $5,000 or higher since at least 2011, when prices for the metal topped $1,900 in intraday trading.
Schiff reiterated his call on the potential for $5,000 gold and beyond during a heated debate with Paul Krake of View from the Peak CNBC’son “Futures Now” episodeposted on April 15.
In an email interview with MarketWatch this week, he offered his thoughts on exactly why he expects gold prices to continue to climb and under what circumstances, what it would take to change his bullish outlook on gold and whether prices for the metal have already hit bottom this year.
- Source, MarketWatch
Sunday, May 18, 2014
There Are Risks That Are Rising, There Are Risks That Are Receding
Schiff issued some well-received comments about the negative effects the Fed's quantitative easing program—buying bonds with money it creates—and zero short-term interest rates have caused.
"All the Federal Reserve has succeeded in doing is reflating a bubble. Of course, the temporary wealth effects associated with these inflated asset prices have benefited a small portion of the population at the expense of the larger economy," he said.
"The majority of Americans are experiencing the much more negative consequences of quantitative easing. They're seeing a decline in their standard of living and a rise in their cost of living.
Schiff spoke the same day as a new government report showed producer prices swelling at the fastest pace since September 2012. Food prices also have been surging lately.
However, other inflation indicators have been within the range the Fed is watching before it will consider raising rates.
Although disagreeing with Schiff's inflation-deflation argument, Roubini cited potential mistakes in Fed policy as one of at least six significant risks to the global economy.
The others are: Persistently lower growth in China that the market has not acknowledged; the risk of "secular stagnation" in developed economies; financial crises in emerging market countries such as Indonesia, Turkey, Brazil, South Africa, Ukraine, Russia, Hungary, Argentina, Venezuela and Thailand; a new Cold War between Russia and the West; and simmering tensions between China and Japan.
Those are competing against six bright spots: The risk of a euro zone debt crisis has been reduced; the debt ceiling fight in the U.S. has been resolved; aggressive easing in Japan has pushed risk of a recession into the future; deflationary risks are lower; tensions between Israel and Iran have been defused, and geopolitical unrest has not derailed growth in countries such as Pakistan.
"Usually they call me 'Dr. Doom,' but next to Peter I am not Dr. Doom," Roubini said. "There are some risks in the global economy that are actually receding. There are other risks that are rising. You have to look at the balance of the two."
"All the Federal Reserve has succeeded in doing is reflating a bubble. Of course, the temporary wealth effects associated with these inflated asset prices have benefited a small portion of the population at the expense of the larger economy," he said.
"The majority of Americans are experiencing the much more negative consequences of quantitative easing. They're seeing a decline in their standard of living and a rise in their cost of living.
Schiff spoke the same day as a new government report showed producer prices swelling at the fastest pace since September 2012. Food prices also have been surging lately.
However, other inflation indicators have been within the range the Fed is watching before it will consider raising rates.
Although disagreeing with Schiff's inflation-deflation argument, Roubini cited potential mistakes in Fed policy as one of at least six significant risks to the global economy.
The others are: Persistently lower growth in China that the market has not acknowledged; the risk of "secular stagnation" in developed economies; financial crises in emerging market countries such as Indonesia, Turkey, Brazil, South Africa, Ukraine, Russia, Hungary, Argentina, Venezuela and Thailand; a new Cold War between Russia and the West; and simmering tensions between China and Japan.
Those are competing against six bright spots: The risk of a euro zone debt crisis has been reduced; the debt ceiling fight in the U.S. has been resolved; aggressive easing in Japan has pushed risk of a recession into the future; deflationary risks are lower; tensions between Israel and Iran have been defused, and geopolitical unrest has not derailed growth in countries such as Pakistan.
"Usually they call me 'Dr. Doom,' but next to Peter I am not Dr. Doom," Roubini said. "There are some risks in the global economy that are actually receding. There are other risks that are rising. You have to look at the balance of the two."
- Source, CNBC
Friday, May 16, 2014
Doomsayers Nouriel Roubini and Peter Schiff in War of Words
Two of the global economy's highest-profile bears found themselves on opposing sides of the fence Wednesday in a heated public exchange.
New York University economist Nouriel Roubini—"Dr. Doom" on Wall Street—and Peter Schiff, the head of Euro Pacific Capital and longtime critic of inflationary central bank policy, squared off during the opening day of SkyBridge Capital's SALT 2014 conference.
Primarily at issue was Schiff's ongoing prediction that Federal Reservemonetary easing is pushing the U.S. economy into hyperinflation, and a corresponding argument that the central bank shouldn't resist deflation because it helps consumers.
"Falling prices do not threaten consumers," he said. "Consumers benefit from falling prices."
"What you're saying about deflation is nonsense," Roubini told Schiff as the two sat next to each in front of thousands of hedge fund managers and investment pros.
"I totally disagree with Peter. His arguments about deflation are nonsense," Roubini continued. "We had deflation with the Great Depression…We had 20 years of deflation in Japan where there was no economic growth."
Roubini's rejoinder drew a strong round of applause, but Schiff had his supporters, too.
The two took over most of the discussion as the panel progressed, continuing to argue even after their microphones had been turned off.
New York University economist Nouriel Roubini—"Dr. Doom" on Wall Street—and Peter Schiff, the head of Euro Pacific Capital and longtime critic of inflationary central bank policy, squared off during the opening day of SkyBridge Capital's SALT 2014 conference.
Primarily at issue was Schiff's ongoing prediction that Federal Reservemonetary easing is pushing the U.S. economy into hyperinflation, and a corresponding argument that the central bank shouldn't resist deflation because it helps consumers.
"What you're saying about deflation is nonsense," Roubini told Schiff as the two sat next to each in front of thousands of hedge fund managers and investment pros.
"I totally disagree with Peter. His arguments about deflation are nonsense," Roubini continued. "We had deflation with the Great Depression…We had 20 years of deflation in Japan where there was no economic growth."
Roubini's rejoinder drew a strong round of applause, but Schiff had his supporters, too.
The two took over most of the discussion as the panel progressed, continuing to argue even after their microphones had been turned off.
- Source, CNBC
Saturday, May 10, 2014
Are You Suggesting You Ban and Confiscate Excess Wealth?
- Source, Thom Hartmann:
Thursday, May 8, 2014
Deflation: A Concern So Stupid only an Intellectual Could Be Worried
- Source, Schiff Radio:
Tuesday, May 6, 2014
I'm Off Base, You're Not Even in the Ballpark!
- Source, CNBC
Sunday, May 4, 2014
The Internet Is What Happens When Government Stops Regulating
- View the full interview here:
Friday, May 2, 2014
Warmer Weather's Failure to Stoke Jobs Chills Stocks
- Source, The Schiff Report:
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