Peter Schiff: This Crisis Will End Worse Than it Began

Peter Schiff: When Everything Blows, Gold Is Going Ballistic

"I think people are just completely clueless with respect to what's actually going on in the world. They don't understand the US economy; they don't understand the Fed. 

But they're about to get a rude awakening and the smart money is buying gold, whether it's being manipulated or not in the short run, gold and silver are both going way up in the long run. And the long run may be here much sooner than people think.

You want to talk about manipulation? It's the central banks that have been manipulating bond prices and interest rates, far more than traders were able to manipulate gold and silver. 

But I think the air is coming out of that bubble. And as this US stock market implodes, as more and more people realize that a massive recession that is even bigger than what we now call the Great Recession of 2008 is actually around the corner - and this credit bubble is far bigger than the one that popped in 2008, that one produced a financial crisis. 

This one is going to produce something much worse - So as people actually figure this out, they're going to be buying gold and they're going to be buying it in a big way."

- Source, Peter Schiff

Peter Schiff: Credit Bubble Bigger Deal Than Gold and Silver Manipulation

In this episode, Peter Schiff discusses his view that while there is manipulation in the gold and silver market that there are bigger issues taking place that will affect the price of gold and silver including the central banks manipulating bond and interest rate prices.

- Source, Schiff Gold

Peter Schiff: Next Round of Quantitative Easing To Send Gold To New Highs

Legendary investor, author, and Austrian Economist Peter Schiff was one of the economists who warned of the sub-prime crisis. BEFORE it happened. 

So we're fortunate that he was kind enough to join Inside the Markets to let our viewers know how the next crisis is going to unfold, and what investors would be well-served to do before it happens. 

Peter talks about the impact of the swelling supply of unsold homes, how it remains a mystery as to who will buy the U.S. debt, and the ongoing debate between President Donald Trump and the Federal Reserve. 

So if you were caught off guard the last time Wall Street collapsed and want a different outcome this time around.

- Source, Stock Pulse

Peter Schiff: Trump Backs down on Tariffs

The two things that everybody seems to agree were weighing down the markets were the Fed's relentless drive to normalize interest rates, and figure out where "normal" was, and, of course, the trade war - the threat of additional tariffs overhanging the markets. 

So I think it was pretty clear to President Trump who is hanging his hat on the stock market, has decided that the stock market performance is the best barometer of his Presidency. 

So the fact that the stock market was falling was really a big problem for the President so he had to do what he could to try to get the stock market to go back up.

- Source, Peter Schiff

Nothing Can Stop What Is Coming, The Probability Of Collapse Happening Is Increasing

Peter Schiff: It's not the end of the world, just the end of America

Peter Schiff: The Pundits Will Always Tell You to Buy the Dip

The Dow Jones dropped another 296 points on Friday. The Nasdaq is on pace for the largest monthly decline since the 2008 financial crisis. The Russell 2000 has dropped over 12%. And yet, everybody still seems to think everything is fine.

But as Peter Schiff said in his most recent podcast, nobody actually realizes when a bear market starts. When they finally do figure it out, it's too late. During the last two bear markets, the Federal Reserve has saved the day by re-inflating the bubbles. But Peter said the monetary magic isn't going to work this time around.

Peter had a feeling October was going to be a bad month. After the last Federal Reserve rate increase, he did a podcast and said it could be the hike that breaks the camel's back. He said he just didn't understand how the markets could ignore the rate increases, what was going on more generally with interest rates, the trade war, and the overseas markets that had already tanked.

It didn't make sense that the US markets could continue to defy gravity in the face of overwhelming negative evidence that was taking place. And it seemed to me that if the market was going to break, October was a pretty good time for that to happen, given the history we've had with October."

Peter said he doesn't see any indication that we've hit bottom, and yet, the market still appears to be complacent. Just look at the price of gold.

The price of gold is still creeping higher, but if there was more fear out there, if people were worried about the market, they would buying gold."

Peter said if you watch the financial news shows, everybody is saying there's nothing to worry about.

Which is exactly what they were saying before the 2008 financial crisis."

He pointed out that when bear markets begin, nobody realizes it's a bear market. A bear market is defined as a 20% decline. So, until stocks hit that level, it's not a bear. The pundits tell you to buy the dip.

So, whenever a bear market begins, all the perma-bulls say, 'It's a correction, buy.' Then, once the market is down 20% and we're in a bear market, then they say, 'Well, you know, it's too late to sell now. 

We've already had the bear market. Now it's time to buy more because we're about to have another bull market. So in other words, you never sell. You just hold forever and hope."

- Source, Seeking Alpha

Peter Schiff: The Fed's Monetary Magic Won't Work This Time

Peter Schiff discusses the supposed 3.5% GDP numbers that will more than likely be revised. The fact that even recessions have day's when the stock market rallies. 

More about the housing market getting hit hard, but also the companies that are casualties of a soaring home buying market. Mohawk Industries is such a company as are others.

Peter will also touch on 2018 permabulls, the reverse wealth effect as well as the criticism he gets for the assumption that he's "always" bearish on the stock market which Peter denies and notes times he was actually bullish.

- Source, Peter Schiff

Peter Schiff: The markets are going to collapse due to Fed raising rates

Euro Pacific Capital CEO Peter Schiff and Steven Quirk, executive vice president of TD Ameritrade’s trader group, on the Federal Reserve’s impact on the stock market and whether corporate earnings can help the market make a comeback.

- Source, Fox Business

Wages Are Rising, But the Cost of Living is Rising Faster

According to the Labor Department, the US economy added another 250,000 jobs in October. The unemployment rate held steady at 3.7%. Earnings took their biggest leap since 2009, rising 3.1% year on year.

Peter noted that everybody considered this a really good report, but we're working off a pretty low bar.

Two hundred thousand jobs a month in an economy the size of ours, especially given how few people, or what a large percentage of the workforce is not working, we should be creating a lot more than 200,000 jobs per month. But we're not."

The rising wages in the most recent report got a lot of attention in the media. But as Peter pointed out, the increase in wages is part of a broader increase in inflation. 

As we reported last week, US consumers face a wave of inflation. Everything from food prices to airline fares is going up.

Even though wages are rising for people that have jobs, the cost of living is rising faster. But the cost of servicing their debt is rising even faster than that."

Peter also said he thinks the wage increases might be fueling some of the volatility in the stock market.

Not just the wages going up, but all of the other prices going up that are driving interest rates higher. And interest rates are only starting to go up They're still ridiculously low, and they have no place to go but up, as long as the Fed stays out. And that's what they're doing. In fact, the Fed is going to continue to increase short-term interest rates, which means long-term interest rates should continue to move up even faster given how much higher inflation is going to go, because we're just getting started with inflation. We've barely seen what's coming."

Increasing prices is a direct result of a decade of Federal Reserve easy money policy. Over the last 10 years, the Fed has printed billions of dollars out of thin air.

- Source, Seeking Alpha

Peter Schiff: Jobs Are Another Bubble About To Burst

Two hundred thousand jobs a month in an economy the size of ours, especially given how few people, or what a large percentage of the workforce is not working, we should be creating a lot more than 200,000 jobs per month. But we're not.

- Source, Peter Schiff

Real Wages have Fallen Further than Official Statistics

Peter Schiff: The Next Economic Hurricane Will Be a Category 5

Peter Schiff: The Recession Is Obviously Coming

The Dow Jones fell 831 points Wednesday, a decline of more than 3%. Meanwhile, the S&P 500 charted its biggest daily decline since February and the Nasdaq Composite dropped 4.08 percent. This follows on the heels of a 200-point drop in the Dow last week after the 10-year US Treasury yield hit the highest level since 2011.

In a podcast last week, Peter Schiff said rising interest rates could serve as the pin that pricks the stock market bubble. In his most recent podcast, Peter said the stock market rout seems to confirm his feeling and warned a recession will follow.

Peter noted that the biggest losers of the day were the tech stocks. These have been the companies driving the recent market boom. Nvidia was down over 9%. Amazon fell 7.3%. Netflix plunged 10% on the day.

Despite the massive selloff, the mainstream still seems pretty complacent. A White House official said, “This is a bull market correction. It’s probably healthy. This will pass and the US economy remains strong.” Everybody is saying this is just a normal correction in a normal bull market. But as Peter said, this isn’t a “normal” market.

This bull market is already the longest bull market ever. So, based on duration, it ain’t normal. Also, based on all the stimulus that was required to create it — all the quantitative easing, the years of 0% interest rates — there is nothing normal about this bull market. If anything, it’s a bubble.”

And if it’s not a normal bull market, why would it have a normal correction? On the contrary, it seems more logical to think that a massive selloff in an abnormal bull market might be the beginning of a bear market.

Since it’s long overdue, why would you just assume that it’s a correction when we’re so overdue for a bear market?”

Peter conceded you could have said the same thing back in February when we saw a similar big market selloff. Everybody said that was a correction and it appears they were correct. The market went on to make new highs. But as Peter noted, those highs were based on a small segment of stocks. Peter said as of now, about 25% of the S&P 500 is in a bear market defined as a 20% or more decline.

So even though we had a rally from that big drop in February, it was not really that broad. It was led by a small section of the market. It was not healthy. But beneath the surface, we were seeing a deterioration. And from my vantage point, what we’re seeing now is a lot more ominous than what we saw in February. And to me, it looks a lot more like this is the beginning of the bear market that is so overdue. It is not simply a correction.”

It’s really impossible to know whether a given selloff is the beginning of a bear market or a mere correction. With all the euphoria that takes hold during a bull run, people are always optimistic. They always believe it’s “just a correction.”

Bull markets end. That means that sometimes corrections turn into bear markets. You don’t know that a correction is a bear market until you’re in the bear market.”

In the last couple of bear markets, the Federal Reserve has been able to ride in and save the day. Peter said he doesn’t think the central bank will be able to do it this time around.

Peter noted that despite the stock market selloff, the bond market was weak and the dollar was actually slightly down. Gold was up a bit, although not significantly. But Peter said a big move in gold is coming.

If you can’t hide in bonds and you can’t hide in the dollar, where are you going to hide? … Really, the only safe haven left standing is going to be gold. And that’s the only asset nobody owns.”

But at this point, people still aren’t worried. They really haven’t started buying gold. Complacency still rules the market. People still think the economy is strong.

The economy is not strong. It was never strong. It was just a bigger bubble … The recession is obviously coming. I mean, come on. We’re long overdue for that as well. And now the rest of the market is rolling over … There is nothing beneath this market. This is a huge bubble. The air is coming out. Interest rates are going to keep going up. And if the Fed tries to save the market by altering its policy … I mean it could end up being like waving a flag at a bull, or in this case a bear.”

Make sure you listen to the whole podcast. Peter breaks down what will happen if the Fed does lower rate. In a nutshell, it will crush the dollar.

- Source, Schiff Gold

Peter Schiff: The Bear Market Has Begun, Recession to Follow

The Hike that Breaks the Market’s Back

Peter Schiff discusses how the FED appears to be willing to bring the market to its knees. Rising interest rates run the risk of destroying and crippling the markets. 

Perhaps, as I have pointed out many times before, this is how they plan to remove Trump from office.

Regardless, the markets are responding and they are not happy with having the "punch bowl" removed.

- Video Source, Peter Schiff

Peter Schiff: We're On The Precipice Of A Much Bigger Crisis Than The Last One

Money manager Peter Schiff was in a small group warning of a coming financial meltdown that happened in 2008.

Schiff says, “I was kind of a fixture on financial cable TV giving these warnings. My thought was the bubble would burst, and I knew that it would..."

"Once the housing bubble burst and we had this financial crisis, I knew it would follow along with the Great Recession. I thought the Federal Reserve would try the best it could to reflate the bubbles in the stock markets and housing markets. 

But my thought was that their efforts would fail. The markets would not allow it and that a dollar collapse would intervene and would prevent new debt from being issued to fully reflate those bubbles. I was actually wrong. They didn’t just try to reflate the bubbles, they actually succeeded in blowing them bigger than ever.”

Ten years later, Schiff is warning of another financial calamity bigger than the last one.

Schiff says, “The problem is now we are on the precipice of a much bigger crisis than before..."

"The next time, if they try to reflate those bubbles, which they will, it will be a spectacular failure because the markets are now prepared for the opposite. Everybody, right now, assumes the Fed is going to be able to keep raising rates. They assume they are going to shrink its balance sheet and that we have this booming economy that will never bust.

When the Fed has to reverse course abruptly, acknowledge the underlying weakness that everybody has been oblivious to and they start cutting rates and launching another round of quantitative easing (money printing), I think the dollar is going to fall through the floor. I think the inflationary fires that are already burning pretty hot are going to ignite. It’s not going to be like 2008 where the dollar went up and consumer prices inched down a little bit. I think the dollar is going to tank and consumer prices are going to soar, and it’s going to be stagflation. When the markets get a whiff of that, they are not going to like the way it smells.

It is going to create a dollar crisis. I think the Fed has put itself between a rock and a hard place. There is no way out this time... This time, you really have to be positioned because this time is going to be the end of it. This is not going to be a hat trick or third time is a charm when it comes to reflating these bubbles.”

On gold, Schiff contends, “People are going to be dumping their dollars and buying gold..."

"If you understood what the Fed was doing, you would be buying gold, but most people don’t understand. You can look at what has happened to gold prices in terms of other currencies, such as emerging markets. Obviously, gold prices in those countries measured in those currencies have gone up dramatically. So, gold has acted as a store of value and a store of purchasing power in every country where the currency has come down.

The same thing is going to hold true of the United States...We could do a reset. We could go back to sound money. We could go back on a gold standard, and we could devalue the dollar officially. I don’t know exactly how high the price of gold would have to be, $10,000 per ounce, $20,000 per ounce, who knows, but there is a price where we could go back to a gold standard. If we want to stay on a gold standard, that means the government would have to live within its means. That’s why governments hate gold standards because it provides discipline to government."

Join Greg Hunter as he goes One-on-One with Peter Schiff, founder of Euro Pacific Capital and Schiff Gold.

- Source, USA Watchdog

Peter Schiff: Revisionist History Portends Socialist Future

Peter Schiff: Out Of The Frying Pan And Into The Fire

"The irony of it is people who are worried about large deficits, unsustainable current account deficits, and interest rates being artificially low, and stoking runaway inflation, the people who are worried about those things and who are selling lira are buying US dollars. 

Well, that is jumping out of the frying pan into the fire, because whatever people are worried about happening in Turkey, it's going to happen in spades in the United States."

- Source, Peter Schiff

Hawkish Fed Narrative Slowly Changing

Peter Schiff: The Latest Jobs Report Was Anything But Strong

"So, we actually fired people in the month of August from manufacturing. 

So much for the manufacturing revolution. So much for how the tariffs are working and we're bringing our jobs back and American manufacturers are bringing back the jobs. 

Three thousand pink slips sent out in the month of August. So, this is bad news. If you're trying to hang your hat on the revival of American industry, of American manufacturing, we lost 3,000 jobs."

- Source, Seeking Alpha

Peter Schiff: Out Of The Frying Pan And Into The Fire

"All of the criticism that is being leveled against Turkey - that their deficits are too big, that they have a current account deficit, they're keeping interest rates artificially low, they're keeping interest rates below the rate of inflation - all of that criticism can be applied to the United States."

- Source, Peter Schiff

Peter Schiff: Heading Toward A Bigger Crisis And The Same People Are Even More Clueless

"We're seeing a lot of warning signs people should be worried about, but again they're dismissing them, much the way they did 10 years ago You know, we're getting close to the 10-year anniversary of the 2008 financial crisis. Remember, the whole thing started in August of 2008. Here we are August 2018, 10 years later. I think we're heading for an even bigger crisis and the same people are even more clueless."

- Source, Peter Schiff

Peter Schiff: Freedom Is Great; Tariffs Are Not

Peter Schiff Twice Shakes up Congressional Hearings

Peter Schiff in Washington D.C. testifying in front of Congress.

- Source, Peter Schiff

Peter Schiff: Could The Trade War Prick The Bubble Economy?

There was a lot of trade war talk at the end of last week. In fact, on Friday, some pundits said the trade war officially began. Last Thursday, President Trump said the US may ultimately impose tariffs on more than a half-trillion dollars' worth of Chinese goods, and a round of tariffs went into effect. The United States began collecting tariffs on $34 billion in Chinese goods. China implemented additional tariffs on some import products from the United States immediately after US tariffs took effect, according to Chinese state media.

The stock markets shrugged it off. Both the NASDAQ and Dow were up over 100 points. In his latest podcast, Peter Schiff said the markets seemed to be saying, "Who cares about a trade war? Bring it on!"

America is going to win the trade war because we've got the least to lose because we've got the biggest deficits, right? Everybody is talking this thing up."

But Peter said when you look at the products both countries are slapping tariffs on, it becomes clear which one is the industrial powerhouse and which one is basically a third-world country masquerading as an economic power. Here's just part of the list of Chinese products that Trump wants to tax American citizens for buying.

These are the things that the Chinese make and are sending us. You know what China is imposing tariffs on us - Chinese good? Soybeans, pork, fish, orange juice, whiskey, I mean, this is stuff that you grow … Look at what we make. We don't make anything. I mean, we have a few things, but mostly it's what we grow. The businesses that are most impacted by the tariffs in China are the farmers - agriculture - because our agricultural products will be less competitive in the Chinese market than maybe the agricultural products of Australia or South America or Canada."

Interestingly, one of the major US exports to China that the Chinese plan to levy tariffs on is gold. Yes. America sends a lot of gold to China.

The Chinese should really increase their imports from America by buying more of our gold. Right? Because obviously, that's going to benefit them because they can be buying gold as they're getting rid of their dollars."

Peter said the point is that China is now the industrial powerhouse with real manufactured goods while the US is more like a colony of China. As a result, the US is not in a position to win the trade war. China can buy food and beverages from anybody it wants.

What China has is far more valuable than what we've got. They have all these manufactured products that are important … All we're doing is raising the prices that Americans have to pay to import the products that our inefficient economy is incapable of producing."

We've been saying for years that we have a bubble economy. Donald Trump even campaigned on that fact, calling the stock market a "big, fat, ugly bubble." But now the Republicans are saying everything is great, we have a "Goldilocks economy," things are humming along. Ironically, the left has started talking about the economic bubbles.

So, here's the $64,000 question. Will the trade war finally pop the bubbles?

It just might. Even if it's not the trade war, something will eventually pop the bubble. And as Peter said in another podcast, at that point, Trump is going to be the fall guy and America may find itself on the path to full-blown socialism.

In this podcast, Peter also breaks down the June jobs report and talks about the minutes from the June Federal Reserve meeting.

- Source, Seeking Alpha

Peter Schiff Predicts A Major Recession During Trump's Presidency

Peter Schiff tells Joe Rogan why he thinks there will be a major recession during Trump's presidency. From The Joe Rogan Experience Podcast, JRE #1145.

- Source

Peter Schiff: Mainstream View on Trade Dangerously Wrong

Heading Toward A Bigger Crisis And The Same People Are Even More Clueless

As we approach the 10-year anniversary of the 2008 financial crisis, some things don't seem a whole lot different. Everybody is optimistic, and as Peter Schiff noted in his most recent podcast, ignoring all of the warning signs.

"We're seeing a lot of warning signs people should be worried about, but again they're dismissing them, much the way they did 10 years ago You know, we're getting close to the 10-year anniversary of the 2008 financial crisis. Remember, the whole thing started in August of 2008. Here we are August 2018, 10 years later. I think we're heading for an even bigger crisis and the same people are even more clueless."

Peter said there is a lot of data that is being ignored or glossed over. For instance, the July jobs numbers came in much lower than expected at 157,000.

"When they look at this big decline month-over-month in job creation, nobody seems to think it's a problem, because everybody wants to look at the economic glass as half-full."

Average hourly wages rose 0.3, which was the expectation, but last month's number originally reported as up 0.2 was revised to -0.1.

"And for all we know, the 0.3 we just got could be downwardly revised next month. But if you take the average hourly earnings numbers at face value and look at the year-over-year increase, the gain is 2.7%. That's how much nominal wages have gone up over the past year. And that includes, of course, all of these minimum wage hikes."

Meanwhile, the CPI has gone up 2.9% during the same period. Peter said he doesn't think the CPI accurately measures the real increase in the cost of living, but even if it did, wages still aren't keeping up with prices.

"Real wages, despite the 2.7% increase, real wages are actually down during that year. In fact, this is the biggest drop in real wages in six years. Now to hear Donald Trump talk, or anybody else talk, real wages are soaring, right? Everybody is getting a raise. They're not. Inflation - consumer prices are rising faster than wages."

- Source, Seeking Alpha 

Peter Schiff at Occupy Wall Street "I am the 1%. Let's Talk"

Joe Rogan Experience #1145 - Peter Schiff

Peter Schiff is an American businessman, investment broker, author and financial commentator. Schiff is CEO and chief global strategist of Euro Pacific Capital Inc. 

He also hosts his own podcast called “The Peter Schiff Podcast” available on iTunes and at SchiffRadio.com

- Source, Joe Rogan

Peter Schiff: Could the Trade War Prick the Bubble Economy?

There was a lot of trade war talk at the end of last week. In fact, on Friday, some pundits said the trade war officially began. Last Thursday, President Trump said the US may ultimately impose tariffs on more than a half-trillion dollars’ worth of Chinese goods, and a round of tariffs went into effect. 

The United States began collecting tariffs on $34 billion in Chinese goods. China implemented additional tariffs on some import products from the United States immediately after US tariffs took effect, according to Chinese state media.

The stock markets shrugged it off. Both the NASDAQ and Dow were up over 100 points. In his latest podcast, Peter Schiff said the markets seemed to be saying, “Who cares about a trade war? Bring it on!”

- Source, Schiff Gold

The MSM Isn't Paying Attention to the Hidden, Rising Inflation Threat

Of course, it’s not really going to be Trump’s fault. But that’s the way the political class plays the game. Whoever happens to be in office when things go south gets the blame. But the real culprits are the central bankers.

Stagflation is a combination of high inflation and negative economic growth. We saw it under Carter, and Peter thinks we’ll see it again as the Trump administration progresses.

Peter has been talking a lot about inflation in both the eurozone and the US, but the mainstream isn’t paying a bit of attention...

- Source, Schiff Gold

Peter Schiff Digs Down To The Root Cause Of The Trade Deficit Problem

In last Friday's podcast, Peter Schiff talked about the potential impact of the trade war, arguing it could prick the US bubble economy. As a follow-up, in his latest podcast, Peter talked more about why a trade war could be worse for the US economy than most pundits seem to think, and he dug down to the root cause of the trade deficit.

The bottom line is slapping tariffs on Chinese imports isn't going to solve the problem.

The Trump administration raised the stakes in the trade war again this week, threatening 10% tariffs on another $200 billion worth of Chinese imports. According to Seeking Alpha, the new list appears to target Beijing's important manufacturing export industries, going after electronics, textiles, metal components and auto parts. Food and personal sectors will also be affected, along with beauty goods and makeup products.

China's commerce ministry said it was "shocked" by the latest US actions and called them "completely unacceptable." It plans to complain to the World Trade Organization. The Chinese also vowed to retaliate with a "combination of quantitative and qualitative measures."

The US mainstream doesn't seem particularly concerned about the trade war. A Reuters headline Tuesday proclaimed "Dollar strengthens as trade war fears fade, risk appetite returns."

As Peter Schiff pointed out in his latest podcast, a lot of American analysts seem to think the trade war won't have much impact because "the economy is strong." They argue that we couldn't have done this when Obama was president, but now that the economy is humming, we can afford to get our house in order and deal with the trade situation. Peter called this "utter nonsense."

We don't have a great economy. We have the same economy we had under Obama."

Peter underscored the point by citing GDP and jobs data then and now.

Those who say we don't need to worry about a trade war also cite the fact that imports only makes up about 15% of US GDP. As Peter says, that's a pretty significant chunk of the economy. You can't just dismiss that. And regardless, you can't just look at the direct impact a trade war will have on imports. You also have to consider the ripple effect.

- Source, Seeking Alpha

Sky High GDP Forecasts Coming down to Earth

Peter Schiff: Stagflation Is Coming

The Dow Jones was up Friday, avoiding it ninth consecutive down day. As Peter Schiff noted on his most recent podcast, such a long stretch of declines is pretty rare. Eight straight down days has only happened 43 times since the Dow launched in 1896. The last time we had nine straight days of Dow Jones decline, Jimmy Carter was president.

Peter said this is a little ironic because he sees another Carter-era phenomenon on the horizon - stagflation.

As a result, he thinks Trump is going to do for the Democrats what Carter did for the Republicans.

"The conservatives rode to power because of the problems that were blamed on Carter. Well, the socialists are going to rise to power in America based on the problems that are going to be blamed on Trump."

Of course, it's not really going to be Trump's fault. But that's the way the political class plays the game. Whoever happens to be in office when things go south gets the blame. But the real culprits are the central bankers.

Stagflation is a combination of high inflation and negative economic growth. We saw it under Carter, and Peter thinks we'll see it again as the Trump administration progresses.

Peter has been talking a lot about inflation in both the eurozone and the US, but the mainstream isn't paying a bit of attention.

"Inflation, of course, is not just going to be a problem in the eurozone. It is going to be a bigger problem in the United States. I think the difference is while the Europeans are going to ultimately raise interest rates to fight their inflation, especially since there's going to be a lot of pressure from the Bundesbank on the ECB to do that, the United States is just going to surrender. 

We're not even going to bother to battle inflation because there's no way we can win. And so inflation is going to be a bigger problem here in that it's going to get even more out of control in the eurozone. But it is going to do damage worldwide, and it's amazing that you have such a massive inflationary threat looming on the horizon and as far as the central banks are concerned, the possibility of that isn't even something they can imagine."

- Source, Seeking Alpha

Government Regulation is Why Drugs Cost so Much

Peter Schiff: The Real Financial Crisis is About to Hit

Peter Schiff Explains Why Sagging Productivity Is Bad News For Your Pocketbook

US productivity numbers for the first quarter of this year were disappointing, to say the least. Analysts expected Q1 productivity to rise by point 0.7%. Instead, it came in at nearly half that, rising by 0.4%. This was only a slight improvement over the 0.3% increase in the final quarter of 2017.

There wasn't a whole lot of chatter about sluggish productivity in the mainstream financial press, but in his recent podcast, Peter Schiff pointed out that it could have significant ramifications for the economy - and on your pocketbook. If you're counting on productivity to keep a lid on consumer prices, you have a big problem.

"That is the only way to keep prices from rising when you're creating all of this money is to have an increase in productivity."

As Peter pointed out, rising productivity doesn't prevent inflation. It merely masks it. Most Americans don't understand what inflation actually is. In fact, the mainstream has effectively redefined the term, as Ron Paul explained during an episode of his Liberty Report. Peter provided a succinct explanation of inflation during his podcast.

"Remember, a lot of people think that inflation is what happens to prices. It's not. Inflation is what happens to money. That's where the word comes from. Inflate means to expand and prices don't expand. Prices go up, prices go down. What expands? The money supply. It expands during inflation, it contracts during deflation. A result of an expansion of the money supply inflation is that prices tend to rise. But they might not rise. If productivity is rising faster, prices might not go up at all."

So, even if increasing productivity keeps prices from rising as fast as they would during an inflationary period, it still harms consumers because they could have benefited from even lower prices.

"If inflation robs you from the benefit of increased productivity, that's still an inflation tax. This is still harming the economy. But the modern day bankers and Wall Street - everybody - they're only worried about inflation if it makes prices go up, not if it prevents them from going down, although now they actually want inflation to make prices go up. They just don't want inflation to make prices go up too much. In fact, if inflation doesn't make prices go up enough, that is supposedly a problem, right? Inflation is too low. That's what's been fueling a lot of the monetary policy."

- Source, Seeking Alpha

Peter Schiff: The Fed Is Pushing Us Toward A No Growth, High Inflation Economy

As expected, the Federal Reserve nudged rates up another .25 basis points on Wednesday. Perhaps more significantly, the Fed took a more hawkish tone than expected, signaling it would likely increase rates two more times this year for a total of four hikes. The central bank had been projecting three 2018 rate increases.

A buildup in inflation pressures was a major reason for the Fed's more hawkish tone. According to the latest data released by the Bureau of Labor and Statistics, the Consumer Price Index (CPI) jumped by 2.8% year over year in May. The central bankers projected inflation will likely run above their 2% target into the near future. Analysts expect the CPI to hit 2.1% this year and run at that level through 2020.

In his latest podcast, Peter Schiff said higher inflation might be a victory for the Federal Reserve, but it will be a big loss for consumers. In fact, we are heading for a no-growth, high-inflation economy.

Peter said he doesn't think he's ever heard a Fed chairman so bullish on the economy. That might not be good news.

"Given the fact that the Fed is a pretty good contrarian indicator as far as being reliable, if Powell is extremely bullish, as bullish as a Fed chairman has ever been, it likely means that the best days of so-called growth are behind us and it is all downhill from here."

While everybody is taking up the Fed's hawkish stance, Peter said he thinks the Fed is actually pretty dovish when it comes to inflation if you read between the lines. In fact, Powell said it was too early to "declare victory" on inflation and he wants to make sure it doesn't drift back down.

"As if victory over inflation is defined by lifting the inflation rate up to 2%. I mean, that's not a victory. Do you think consumers are going to celebrate that?"

In fact, it's not hard to generate inflation. Just print money. The hard part comes when inflation runs out of control and the central bankers have to bring it down. That's real victory - a victory Peter said Powell will never achieve.

- Source, Seeking Alpha

Peter Schiff: Special Privileges for Some Means Freedom for None

Peter Schiff: Tariffs Did Not Cause U.S. Trade Deficits

Fed's Inflation Victory Is a Loss for Consumers

Peter Schiff talks gold investment strategies at mining conference in Canada

Peter Schiff Keynote. Cambridge House International Inc. International Mining Investment Conference, Vancouver, B.C. May 15th 2018.

- Source, Peter Schiff

Peter Schiff: Interest Rates and Gold Will Both Go Up

Money manager Peter Schiff issues a stark warning, “This is not going to end well, and I don’t think the Fed is going to be able to save us again. If you get it wrong this time, you’re done. You are down for the count. You just can’t hold and hope. 

If the stock market gets cut in half again, the Fed is not going to bail you out with another round of quantitative easing. They’re not going to bail you out with rate cuts because the next time the Fed tries to do that, it will destroy the dollar. I am confident of that.” 

What about gold in a rising rate environment? Schiff says, “Gold can go up when rates are rising. 

In fact, gold will go up when rates are rising. Rates are generally rising because you have more inflation. More inflation is good for gold.”

- Source, USA Watchdog

Peter Schiff - We're Getting to the End of it

Peter Schiff: How to Think About the Federal Reserve

Money has been used as a medium of exchange since ancient times. It affects not only economics, but also history, politics, and culture...

- Source, Hillsdale College

Peter Schiff: The Real Financial Crisis is About to Hit

Peter Schiff: Interest Rates Are About to Shoot Through The Roof

Watch Peter Schiff, one of the most prolific speakers at the International Mining Investment Conference talk about the "Calm Before the Storm" and his prediction that interest rates are about to shoot through the roof and depress the economy to record lows.

- Source, Cambridge House

Peter Schiff: Bond Breakdown Gathers Momentum

Peter Schiff: Currency Traders Have It Backwards

Peter Schiff: The Calm Before the Storm

Peter Schiff appears at Cambridge House international, where he was one of the recent keynote speakers. He talks about the dangerous financial situation the world now finds itself in and tells investors that they should not be too complacent.

We are simply in the calm before the storm and hard times are coming. Prepare now, or rue the day you didn't.

- Video Source, Peter Schiff

Peter Schiff: Tariffs, Deficits, Fed Form 'Perfect Storm' Against Investors

Investment guru Peter Schiff is warning investors that a perfect storm is brewing as the nation’s central bank officials are clueless about how to deal with the future of interest rates in such a volatile trading landscape.

“We are in the perfect storm, I think, of massive explosion in deficits, not just the budget deficit but the trade deficit, these tariffs or a trade war is only going to compound the problem,” Schiff said on a recent podcast.

“We've got the economy weakening. We've got the dollar teetering on the brink of collapse. We've got gold about to break out and the bond market is in the same thing," the CEO and chief global strategist of Euro Pacific Capital Inc. said.

The Federal Reserve is not going to be able to deliver the rate hikes it is predicting, he cautions. “It's the expectation of more rate hikes that is what is keeping the lid on the price of gold. But it's only a matter of time before the market blows the lid off and the price of gold goes up," he warned.

He said not to be fooled by any recent headlines proclaiming the economy is actually robust.

“Q1 had all the hype in it, all the anticipation of the tax cuts, the big build in inventories. Despite all that, we're barely getting any growth in Q1 and because I think we had to pull growth forward from Q2 in order to get a pathetic 1.9, or wherever it's going to be for Q1, then Q2 is going to be a lot lower because we've pulled that growth forward,” he said/

“And that just blows up this whole bullish scenario of 4 or 5% economic growth," he said.

To be sure, “robust” business borrowing, rising consumer spending, and tight labor markets indicate the U.S. economy remains on track for continued growth, the Federal Reserve reported on Wednesday, with the risks of a global trade war the one big outlier, Reuters reported.

In its periodic “Beige Book” summary of contacts with businesses in its 12 regional districts, the Fed said the overall outlook among businesses “remained positive,” but that many were worried about the Trump administration’s use of tariffs.

- Source, NewsMax

Peter Schiff: Gold Could Explode At Any Minute

Most analysts blamed the plunge on fear of an all-out trade war between the US and China. But the Federal Reserve rate hike on Wednesday also likely played a part in the stock market decline. The markets don't like the prospect of having their easy-money punch bowl taken away.

So, could we be on the verge of a gold breakout as stocks break down?

In his latest podcast, Peter Schiff said he believes we are already in a bear market. Technically, analysts don't start talking bears until the stock market declines 20%. But as Peter pointed out, you have to drop 10% before you get to 20.

"So, if this is a bear market, if we ultimately go down by more than 20%, then this is the bear market right now. It's only a correction if it doesn't turn into a bear market. But if it becomes a bear market, it's been a bear market the entire time, and I think we are in a bear market now."

The mainstream analysts continue to assure us that everything is fine. The fundamentals haven't changed. Peter said in a sense, they're right.

"The fundamentals haven't changed. They were lousy when the market was going up, and they're lousy now that the market is going down. In fact, if they've changed, the fundamentals have actually gotten worse. But the problem is these guys don't understand the fundamentals. They didn't realize that the only thing that was propping up the market was the fact that it was a bubble and what's changed is the bubble has been pricked."

Gold prices rallied after the Fed announced its rate hike. The price approached $1350 on Friday. The trade war talk spurred safe-haven buying, and we got the post-rate hike bounce we've seen in the past as investors sell the rumor, buy the fact of rate hikes.

Before the FOMC meeting, Peter said if the Fed didn't raise rates, gold could go ballistic.

"But they did raise rates, so it just went up a little bit. We're at resistance of $1350. But we could explode at any minute."

- Source, Seeking Alpha

Peter Schiff: Enjoy The Calm Before The Storm

With the US missile strike in Syria, rumblings of a trade war and a generally weak dollar, gold briefly flirted with $1,365 last week. But the anticipation of Federal Reserve rate hikes continues to create strong headwinds against the yellow metal. Last week, the Fed released its March FOMC minutes, and most analysts interpreted them as "hawkish." In fact, many people now think the Fed will nudge rates up again in June, leaving six months to get in the much-anticipated third hike of the year, and possibly even get in a fourth.

The Fed bases its hawkishness on its anticipation of continued strong economic growth and increasing inflation. Peter said it has it half right. Inflation is going to continue to increase. But the central bankers don't even really have that right. Peter says inflation is actually going to go up faster than projected. The bottom line is that the Fed isn't going to be able to push through all of these rate hikes.

The Fed is not going to be able to deliver the rate hikes the Fed is expecting, and again, it's the expectation of more rate hikes that is what is keeping the lid on the price of gold. But it's only a matter of time before the market blows the lid off and the price of gold goes up."

Peter said gold is basically trading sideways right now, in advance of a breakout. Meanwhile, the dollar is doing the same thing in the other direction. The greenback is weak but not breaking down. On the other hand, it isn't recovering any of its losses. Peter thinks it's treading water right now before it heads lower again.

The Atlanta Fed dropped its Q1 GDP estimate twice last week. It is now projecting a 1.9% growth. Peter said that's probably going to be the high-water mark for the year.

Q1 had all the hype in it, all the anticipation of the tax cuts, the big build in inventories. Despite all that, we're barely getting any growth in Q1 and because I think we had to pull growth forward from Q2 in order to get a pathetic 1.9, or wherever it's going to be for Q1, then Q2 is going to be a lot lower because we've pulled that growth forward. And that just blows up this whole bullish scenario of 4 or 5% economic growth."

- Source, Seeking Alpha

Peter Schiff: The Eye of the Hurricane

Peter Schiff: The Calm Before the Storm

Peter Schiff: Trump Warns Investors to Prepare for Pain...

Schiff: The Quarter Ends but the Pain is Just Beginning

Peter Schiff: Why Gold Stocks Will Go Ballistic

Peter Schiff on Fox Business with Liz Claman talking about Donald Trump, the gold markets and general stock markets as a whole. Schiff sees interesting times ahead.

- Source, Fox Business

Peter Schiff: What to Do After a Market Bubble Pops

Peter Schiff Interviewed by Nicholas Merten of Data Dash

Thank you to Nicholas Merten from Data Dash for having Peter Schiff join him on his show. Nick and Peter talked about a vaiety of topics including of course cryptocurrencies, gold, silver, the stock market, the US economy, the housing market, financial services and a lot more.

- Source, Peter Schiff

Investors Remain Oblivious to Flashing Warning Signs

Despite the bright red, flashing warning signs that the markets are emitting, the vast majority of investor remain oblivious to what is unfolding around them. This has the makings of an epic disaster.

- Source, Peter Schiff

Peter Schiff: Will Gold Breakout as Stocks Breakdown?

The situation for the global stock markets grows increasingly more and more unstable with each passing day. Will gold break out as things continue to break down?

- Source, Peter Schiff

Do Rising Interest Rates Finally Matter?

Will Black Monday Come Earlier This Time?

Obama & Yellen Strand Trump & Powell in Dodge

Peter Schiff: The End is Near, Prepare Yourself

Peter Schiff speaking about the imminent economic crash looming just around the corner. Recorded at Cambridge House VRIC on January 22nd 2018. If this talk seems a bit commercial, that's because it was an investment workshop.

- Source

Peter Schiff: Clueless Mnuchin Embraces Weak Dollar Policy

Peter Schiff discusses the recent weak dollar policy that has been embraced. Will it lead to booming times, or will it be the United States undoing?

- Source, Peter Schiff

Peter Schiff Warns: 10 Year Yield Will Hit 4% by 2018

Euro Pacific Capital CEO Peter Schiff explains why investors need to get out of the U.S. markets ahead of a rising 10-year yield.

- Source, Fox News

Peter Schiff: It Could be Over for the Dollar

Peter Schiff of Euro Pacific Capital explains why he thinks we're headed toward the biggest bear market in the dollar's history.

- Source, Investing News

Bitcoin Investors Will Eventually Get Wiped Out

More people own bitcoin at a loss than at a profit, this according to Peter Schiff, CEO of Euro Pacific Capital. Speaking on the sidelines of the Vancouver Resource Investment Conference he said, “the number of people who bought into the market at $12,000 [a coin], $13,000, $14,000, is enormous… people had no idea what they were doing.” 

Schiff added that if bitcoin doesn’t rebound from current levels, then “the brand is tarnished,” and success stories about investors having made millions off the cryptocurrencies will change to people losing all their investments. 

“Bitcoin is all based on faith, and when the confidence goes, all the value goes,” Schiff said. “There are a lot of people that refuse to sell because they think it’s going to a million, in the end it’s all going to be wiped out.”

- Source, The Street

Ivan on Tech debates Peter Schiff: Bitcoin vs Gold, US Dollar Crash

I'm excited to tell you guys that we'll have the one and only Peter Schiff here on the show! Peter has been critical about the traditional financial system for many years, he foresaw the financial crash of 2008. HE HATES BITCOIN though. Peter is all about gold and doesn't see the value in Bitcoin. We're going to talk about his past, financial system, gold, bitcoin, dollar crash etc.

- Source, Ivan on Tech

Conditions Ripe For 1987 Style Stock Market Crash

The economic situation the world now faces is dire. Markets are over inflated and set for a crash. This will not end well. We have seen this all before...

- Source, Peter Schiff

Peter Schiff: This Dollar and Economic Crisis is Bigger Than 2008

Financial expert Peter Schiff predicts, “Now, the crash in the dollar that I envisioned (years ago) and the crash in the U.S. economy is going to be much bigger than 2008 and much more dramatic and devastating to the average American as a result of the delay. We haven’t dodged the bullet, we have ended up stepping on an even bigger landmine.” 

Schiff contends it’s not a matter of “if” there is going to be a dollar crisis, it’s simply a matter of “when.” Schiff points out, “All measures of gold and silver show it is inexpensive. The reason it is inexpensive is many people have the wrong view of the state of the U.S. economy and where monetary policy is headed. 

That’s where the value is because so few understand. It’s just like the 2008 financial crisis, people didn’t understand what was coming. I did.”

- Source, USA Watchdog

The Dollar's Declines Are Just Getting Started

The weakening of the U.S. dollar is just getting started, warned veteran market forecaster Peter Schiff, CEO of Euro Pacific Capital.

"We have just begun a major, long-term bear market in the dollar," he said, which should cause a spike in oil prices. He thinks oil will reach $80-$100 a barrel in 2018. The commodity currently trades at over $63 a barrel.

- Source, The Street

Peter Schiff on the State of the Markets, Fed Policy, and Bitcoin

Bitcoin prices are headed to near zero, according to Peter Schiff, CEO of Euro Pacific Capital.

"I wouldn't encourage people to bet on it," he said. "I do believe that no matter how high bitcoin goes, it's ultimately going near zero."

On Tuesday, Eastman Kodak Company saw its stock price surge after it unveiled a cryptocurrency, KodakCoin, a development that reminds Schiff of the dot-com Internet bubble in the 1990s.

- Source, The Street

Peter Schiff Talks his 2018 Gold Outlook

Investors should brace for a weaker U.S. economy in 2018, says Peter Schiff, CEO and chief global strategist of Euro Pacific Capital Inc. Schiff sees U.S. equities’ steady rise to maintain course early in the new year, but reverse trends as macroeconomic forces create headwinds on stocks. 

“I expect prices to continue to rise for both producers and consumers, so accelerating inflation, a weaker dollar, ultimately a weaker economy, that should take its toll on stock,” he tells Kitco News.

- Source, Kitco News

Peter Schiff: It's Not A Growth Story, It's An Inflation Story

The Federal Reserve released December's FOMC meeting minutes this week, and the tone was decidedly more "hawkish," leading most analysts to believe interest rate hikes and quantitative tightening will remain on track in the coming year.

As Bloomberg reported, "officials in December debated the risks to the US economic outlook, with some concerned about low inflation and others pointing to robust growth that was about to get a further boost from tax cuts." In fact, inflation was at the center of debate. But generally, the concern was that inflation expectations remain too low. In his latest podcast, Peter Schiff said this attitude shows just how clueless investors, and the general public are.

"If they don't think there's going to be inflation, they're wrong. Those expectations are totally wrong. People are ignoring what is going on in the currency market, what's going on in the commodities markets, what's going on in the bond markets. All of this stuff is flashing inflation - at least the way you measure it - consumer prices."

Peter specifically mentioned oil. The price has pushed above the $60 per barrel mark, the highest levels in two years. Of course, when the price of oil rises, it reverberates through the economy. Peter called it a gigantic tax hike for consumers. But the Fed is still worried prices aren't going up fast enough and that they won't hit the mystical 2% goal.

"They're going to hit that out of the park. They're going to be looking at 2% in the rearview mirror - in the distant rearview mirror. That is going to be the big story. They're going to way overshoot and they're not going to be able to do anything about it."

The FOMC also talked a lot about tax cuts. Most analysts still believe the tax cuts passed last month will spur economic growth. We have argued persistently that tax cuts without a corresponding decrease in the size and scope of government will not produce the promised growth. But the mainstream is banking on growth. Peter said these people are ignoring the structural problems in the economy.

- Source, Seeking Alpha

Clueless Elites Embrace a Weak Dollar, Plan to Dethrone "King Dollar"

Peter is back to provide a a critical update after Wednesday’s big moves in the metals and the dollar.

Peter says that while he has been wrong for several years on the U.S. stock market, over the last two years he has actually beaten the U.S. stock market.

But that’s hindsight, Peter says.

What is important is that because it has been so painfully long for what everybody is expecting to unfold, it just means that we have all had more time to prepare for the coming US dollar collapse and fiat currency crisis.

Since the U.S. markets have had such a long run, and since the dollar strengthened in 2014 on a three year run, it has allowed everybody to add more to their gold and silver stacks or to diversify out of the dollar.

Peter says that it’s all unfolding now, and you can’t miss the train, because the platform is made of the U.S. dollar and it’s going to blow up.

Missing this train, Peter says, is not just like missing out on some investment opportunity, because not being positioned means going down in the dollar collpase.

- Source, Peter Schiff

Peter Schiff: Twin Deficits May Doom The Stock Market Boom

The US trade deficit widened 3.2% to $50.5 billion in November. It was the largest trade deficit in almost 6 years. If you take oil out of the equation, the trade deficit hit an all-time high. If oil prices keep rising and the dollar keeps falling, it will put even more pressure on the US trade deficit.

In theory, a weakening dollar should help the trade deficit because it makes US products more competitive. As foreign products become more expensive, consumers can just substitute domestic alternatives. But as Peter pointed out, it doesn't work that way in practice. Americans don't have that ability to substitute. There are no domestic alternatives to many of the products they import because America doesn't make them anymore. So, if the dollar goes down, it simply forces Americans to pay higher prices for imported products.

On the flip side of the equation, the weakening dollar doesn't help exports either. You have to produce something before you can export it.

So, if we're not producing the goods foreigners want to buy, the fact that the dollar is cheaper doesn't help our exports. So, this is going to compound the problem for the trade deficit."

Peter turned to the tax cut plan. The GOP admits it will add about $1.5 trillion to the deficit. But Peter reiterated what he said last month - the deficit will likely grow even bigger as people reorganize their affairs to take advantage of loopholes built into the plan.

- Source, Seeking Alpha

Peter Schiff: There Is Everything To Worry About

Last Friday, all three major stock markets hit new record highs ignoring the storm clouds on the horizon. In his latest podcast, Peter Schiff said this reminds him of 1987.

The stock market is rising despite the fact that there are very, very negative factors that are building, that are hiding in plain sight, that everybody is ignoring.”

When it comes to the economy, most people aren’t worried about anything when there is everything to worry about.

Peter highlighted a number of ominous signs, including rising inflation, as evidenced by the surging price of oil, the tanking dollar, and warning signs in the bond market with reports China plans to quit buying US Treasuries. Peter says it’s the perfect setup for a 1987-style crash that nobody sees coming. Of course, they should see it coming.

That’s going to be the crazy part. When it’s going to happen, everybody is going to say, ‘Well, nobody could have possibly seen this coming. How could anybody have possibly known this was going to happen?’ I mean, this is the most obvious crisis ever, yet of course, yeah, they’re oblivious.”

Meanwhile, the markets are priced for perfection. So, what will the Federal Reserve do when the air starts to come out? They are going to try to stop it.

Let’s say the Dow drops 1,000 or 2,000 points.

Now the Fed has to come out and stop the carnage, right? They don’t want to let it continue. So they’ve got to fess up, ‘Oh, you know, we’re not going to hike … then the dollar implodes.”

So, if the Fed has to launch another round of QE and buy up bonds, how is that going to happen? It will have to print money, because would you want to own the dollar?

The president is talking about, ‘Why do we let all these immigrants in from these shithole countries?’ Well, I think our creditors are going to think about the same thing. I mean, why should they flush their hard-earned money down this shithole? Why do they want to flush their money down the US toilet? Which is what it is when it comes to lending money to the US government. So, that could be very scary – if the Fed announces it is going to buy bonds and bonds tank anyway. That is the beginning of the end.”

- Source, Seeking Alpha

Peter Schiff: Gold Could Be The Pin That Pricks Bitcoin's Bubble

A big move up in the price of gold could cause a fall in Bitcoin prices, according to Peter Schiff, CEO and chief global strategist of Euro Pacific Capital Inc.Schiff sees investors’ shift back into gold as a negative for flows into cryptocurrencies. “To the extent in which people think Bitcoin is digital gold, it’s not, but to the extent that people think that, some money that might otherwise be used to buy real gold, is buying fool’s gold instead, and that is taking some of the demand for gold,” he told Kitco News.

Speaking on his outlook on gold, Schiff sees positive growth for the yellow metal in 2018. “I think the price is going higher,” he said, “once people really come to terms with reality on the true state of the U.S. economy, and what the future direction of Fed policy is going to be, there’s going to be a mass exit of dollars, and a scramble to buy gold.

- Source, Kitco News

Nailed It: Bitcoin Plummets in Value!

Peter Schiff's 2018 Outlook on bitcoin bubble, bitcash, Litecoin, Ether, gold, dollar, market, blockchain, satoshi, crypto and cryptocurrency on Kitco December 19th 2017.

- Source, Kitco News