On his Friday podcast, Peter Schiff told the story of his encounter with Ben Bernanke at the SALT Conference last week. He managed to snap a photo with the former Federal Reserve Chairman, which you can see here. Peter first discusses the latest economic data, then starts talking about Bernanke at 13:30.
The British Royal Mint has released coins commemorating the birth of Princess Charlotte that cost far more than the value of the metal they contain.
These are certainly beautiful, high-quality coins. However, investors should be aware that they are not paying bullion prices for these limited-edition products. More importantly, there is no guarantee that coins like these will hold their collectible value in the future.
Gerald Celente agrees with Peter Schiff. The United States economy is in terrible shape, and the official jobs numbers are not representative of the true health of the domestic labor market. Celente believes that gold will reach $2,000 or higher when investors realize that the equity markets are vastly overvalued.
The latest US government data shows a record number of Americans renounced their citizenship in the first quarter of 2015. A total 1,337 Americans gave up their passports during that time. That’s almost 40% of the 3,415 in the entirety of 2014. That 2014 figure was an all-time record, following a record 2013 with 2,999 expatriates.
It’s no mystery why Americans living abroad are choosing to sacrifice their citizenship. United States tax laws are extremely onerous.
Yesterday, Peter Schiff told CNBC’s Futures Now that Janet Yellen has it wrong – the stock market isn’t “a little overvalued”; it’s extremely overvalued. He went on to explain why he believes the US stock market is going to lose a substantial amount of its value relative to the price of gold.
Peter Schiff spoke briefly with Ben Bernanke at the SkyBridge Alternatives (SALT) Conference yesterday. Approaching the former Federal Reserve Chairman, Peter warned, “In full disclosure, I’m your biggest critic.” Bernanke didn’t miss a beat: “You have a lot of competition.”
Graham Ledger spoke with Peter Schiff last week about all the official excuses for the poor first quarter GDP. Ledger compared this winter to the epically poor winter of 1984, when the GDP still managed to rise by more than 4%. On top of that, he compared the so-called Obama “recovery” to the Reagan recovery of the mid-80s when GDP stood at about 3-4%. Peter agreed with all of Ledger’s points and shared his strategy for protecting your investments from the economic fallout of the Fed’s monetary manipulation.
Kitco News interviewed Andre Leyland of Thomson Reuters GFMS about the latest silver demand trends. While demand in 2014 was down very slightly from 2013, Leyland emphasized that 2013 was a record year for silver demand around the world. Looking forward, he expects demand to grow, and with it the price. In fact, Thomson Reuters GFMS is projecting the next couple of years to have significantly higher average silver prices than we’re seeing now.
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What do precious metals experts know about silver that you don’t? The white metal has far more upside potential than gold.
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Chris Waltzek of GoldSeek Radio interviewed Peter Schiff last week. They discussed the future of the US dollar and the price of gold.
What’s really holding gold back is not just the strong dollar, but the idea that the Fed is going to be raising interest rates. It’s the fear of higher rates that is also hurting the case for gold. When people realize that we’re not going to get higher rates, that we’re going to get QE4, that the dollar is going to tank… Gold is going to go ballistic. I think the next gold rally is going to be the most spectacular rally we’ve ever witnessed…”
