Gold has started 2015 with a bang. The physical price is soaring in currencies around the world. Even the rising dollar hasn’t hampered gold, which is a very bullish signal. Gold stocks are also exploding. The largest gold ETF is up nearly 10% already. Yahoo! Finance interviewed Peter Schiff to see what he predicts for gold in the rest of 2015.
Peter Schiff appeared on Fox Business yesterday to discuss whether or not the Federal Reserve is going to start quantitative easing again in 2015. Anchor David Asman gave Peter credit for predicting that the economy is too weak for the Fed to rase interest rates, which Morgan Stanley now believes as well. On top of that, Asman credited Peter for predicting poor UPS earnings in the fourth quarter. Peter and Asman still wrangled over whether or not the US is falling into another recession.
Greg Hunter of USAWatchdog spoke with Michael Pento, author of The Coming Bond Market Collapse. Pento agrees with Peter Schiff on the fundamental problems with the global economy. Central banks and irresponsible politicians have loaded governments with unsustainable levels of sovereign debt. The endgame is an inevitable financial crisis of epic proportions. Pento’s analysis is brutally honest and harshly critical of the financial media. What is his advice for the average investor? “Run for gold.”
We actually believe that small group of… plutocrats can decide better than the free market where commodity prices should be, where currencies should be, where equity prices should be, where bond yields should be. [Central bankers] haven’t just tinkered in that regard. They’ve dominated, usurped, vanquished the entire market. The free market is gone… We put it all in the hands of these few people, and they have screwed things up royally.”
Peter Schiff appeared on RT this morning to share his opinion on the ECB’s announcement of a new quantitative easing program.
Peter Schiff appeared on Bloomberg TV yesterday to explain why China is going to be forced to remove its peg to the dollar, just as Switzerland abandoned its euro peg. When this happens, the big losers are going to be American citizens, while Asians will likely enjoy a higher standard of living.
Peter Schiff appeared on CNBC World earlier this week, continuing his crusade of warning the financial media that central bank money printing is ultimately going to be a disaster for the economy. He also commented on President Obama’s hopes of raising capital gains and inheritance taxes. Peter slammed the president for his fundamental lack of understanding of how to responsibly grow an economy.
Marc Faber appeared on CNBC’s Futures Now yesterday to encourage investors to get into gold. His reasons are the same as Peter Schiff’s – 2015 could be the year that the markets lose confidence in central banks’ ability to artificially prop up the economy. In fact, he strongly believes that gold could rise 30% this year.
At 1:58, the interview gets uncomfortable when Faber calls out the financial advisors and CNBC specifically. The anchor goes quiet and quickly ends the interview when Faber remarks bluntly that the financial sector would love it – Main Street be damned – if Yellen printed way more money:
It is clear to me that the financial sector – including CNBC – loves central banks, because by printing money, they lift stocks… I also get higher fees from rising stocks… Yellen should print twenty times more money… Then stocks will go up and it will impoverish the population.”
Jeff Clark of Casey Research spoke with Vanessa Colette at the Vancouver Resource Investment conference hosted by Cambridge House International. Clark explained that gold has been performing exactly as it should in the past year by rising in the price of foreign currencies that have been experiencing inflation and economic trouble. Clark emphasized that there has never been a better time in history to own gold. On top of that, he reminds us that someday the East is going to take charge of the gold trade, and they’ll do that at much higher prices than we’re seeing now.
David Asman interviewed Peter Schiff on Fox Business on Friday. They discussed why inflation created by central banks doesn’t actually create a strong economy, but rather serves to prop up irresponsible governments. Peter also explained why the price of gold is going up even while the US dollar is rising against other currencies.
Markets are still reeling from yesterday’s news that the Swiss National Bank has removed the currency cap on the Swiss franc. Still wondering exactly what this means for European and American investors? Peter Schiff explains to RT what this means in the larger context of the international currency war. It’s good news for the Swiss people, but Americans still have a long way to go before losing confidence in the Federal Reserve.
