Coast to Coast AM interviewed Peter Schiff this week. They talked about the real story of the Obama recovery, central bank manipulation of the money supply, and why silver is just important for your portfolio as gold. It’s a long interview that you can find in full here. Highlights of Peter’s responses are transcribed below.
Greg Hunter of USAWatchdog interviewed Peter Schiff last week about the new highs in the stock market and what the positive financial news really portends for the United States economy. Peter also shares his thoughts about a bottom in the gold price.
Kitco News spoke with Peter Schiff at the Grand Cayman Liberty Forum about the gold market. They covered the gamut, from the economic fundamentals for gold’s next price rise to the Swiss gold referendum at the end of the month.
The latest jobs numbers were released today, and the financial media is making much of the drop in the unemployment rate – now 5.8% according to the Bureau of Labor Statistics. Obviously, the economy must be getting better, just like Janet Yellen and Barack Obama have been telling us, right? Not so fast. The results from Tuesday’s elections tell a different story, as exit polls showed that the vast majority of voters were primarily concerned about the economy. Main Street Americans are waking up to the fact that this recovery is a hoax.
Even major news outlets like the LA Times are reporting on the new phenomenon of “secular stagnation,” which Peter Schiff addresses in his commentary below. ZeroHedge summarized how bogus the latest jobs numbers are, pointing out that most of the jobs gained are low-end service sector positions, while high-quality full-time work is dropping. Most alarmingly, it looks like there may soon be more waiters and bartenders in America than manufacturing workers:
In his latest video, Peter Schiff appeals directly to Swiss voters – send a message to your government and the entire world by passing the “Save Our Swiss Gold” referendum on November 30th. This historic vote would force the Swiss National Bank to:
- Keep 20% of its assets in physical gold bullion (currently less than 8% of its reserves).
- Repatriate all Swiss gold holdings to Switzerland.
- Not sell any more Swiss gold.
On Friday, Peter Schiff reviewed the Halloween stock rally as an effect of the end of the Federal Reserve’s quantitative easing program. He focused on comparing the irrational euphoria of Wall Street to the dismal performance of gold stocks. Gold investors need to remain patient, because eventually the markets will realize that the United States is headed to another recession.
In the latest episode of his podcast, Peter Schiff gives his take on the end of quantitative easing. Peter reviews CNBC’s reaction to the news and Alan Greenspan’s opinion of QE. He also shares his own predictions for the future of the American economy and the price of gold.
In his latest podcast, Peter Schiff takes a look at the most recent earnings reports from Wall Street. Why are McDonald’s, Coca-Cola, and Amazon’s earnings so far off from expectations? If the economy is getting better, surely these companies – companies that are dependent on the prosperity of everyday Americans – would also be experiencing decent profits. Right? Think again. Peter Schiff explains what corporate America can tell us about the real condition of the United States economy.
Peter Schiff has been one of the few voices of reason warning that the Federal Reserve is going to re-start its quantitative easing by mid-2015, as well as keep interest rates at zero until there is a currency crisis. With the recent market turmoil, economists around the world are beginning to realize that Peter is right – more QE is needed. Even St. Louis Federal Reserve Bank President James Bullard says that another round of quantitative easing might be in order. In an interview on Bloomberg, Bullard said:
Is the world waking up to the economic reality Peter Schiff has been warning about all year long? With the current chaos in the stock market and rise in the price of gold, mainstream commentators and economists around the world are starting to wonder if stocks really are in bubble territory. All sorts of technical indicators are driving speculative investors to seek the safe-haven of gold. Take a look at some of these ominous indicators highlighted by the Economic Collapse Blog:
- The S&P 500 and Nasdaq Composite experienced the worst three-day decline since 2011.
- The price of oil is plummeting, which happened just before the 2008 financial crisis. Oil hasn’t been this cheap for two years.
- The Volatility Index (VIX) is at its highest since the European debt crisis, indicating a lots and lots of fear on Wall Street.