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Michael Pento’s Market Commentary A few months ago, the chorus sung by the recovery cheerleaders reached a crescendo when expanding consumer credit statistics and surging US trade deficits provided them with “evidence” of an economic rebound. In declaring victory, they overlooked the very nucleus of this past crisis: namely, the enormous debt levels and bubbling […]
By Peter Schiff As the world confronts one of the most critical periods of economic upheaval that it has ever seen, it is clear that our most influential economic stewards have absolutely no idea what they are doing. But, like kids with a new chemistry set, they are nevertheless unwilling to let that stand in […]
By Peter Schiff In the world of precious metals, silver spends a lot of time in the shadow of its big brother gold. Gold, with its high price-to-weight and distinctive yellow tint, has always occupied a special place in the human psyche. To many people across many ages, gold is simply the ultimate form of […]
The following article was written by Mary Anne and Pamela Aden for the March 2011 edition of Peter Schiff’s Gold Letter. The commodity market is on fire! Be it copper, cotton, cattle, corn, sugar, energy, or resources… most tangibles are at record highs or new highs. This is why the CRB index also recently hit […]
Michael Pento’s Market Commentary It now appears that the United States has finally succeeded in its efforts to destroy confidence in the U.S. dollar. Given the currency’s reserve status, its ubiquity in financial markets, and the economic power and political position of the United States, this was no easy task. However, to get the job […]
Michael Pento’s Market Commentary Civil revolt is currently spreading across the Arab world. What began in Tunisia has now metastasized into Bahrain, Egypt and Libya. Though two dictators have been ousted, the chances that these regimes will fundamentally transform from autocracy to a system of free markets and property rights are also up in the […]
Michael Pento’s Market Commentary To counter the increasing demands that government reduce its micromanagement of the economy, last week the Obama Administration offered a fig leaf in the form of a white paper entitled “Reforming America’s Housing Finance Market.” In addition to marking the official end of the Bush era “ownership society,” where increasing the […]
By Peter Schiff Based on his recent public comments, Fed Chairman Bernanke seems determined to give the U.S. dollar the reputation of Egypt’s Hosni Mubarak: an unwanted relic of the past that everyone agrees must go, but stubbornly clings to a privileged position. The dollar is currently the world’s ruling currency, but, as with Mubarak, […]
By Peter Schiff A lot of people ride motorcycles, but there’s a reason most don’t try to be Evel Knievel. Sure, there’s a big reward if you can land a jump over 14 school buses – but what if you don’t? A new craze among our competitors is to push gold buyers into “leveraged accounts.” […]
The following article was written by Mary Anne and Pamela Aden for the February 2011 edition of Peter Schiff’s Gold Letter. The year ended with a bang – record or multi-year highs in gold, copper, silver, palladium, cotton, tin, cattle, and other commodities. 2010 was a particularly great year for the precious metals, as they […]
