While interviewing William Rhind of World Gold Trust Services, CNBC asked him why central banks around the world are buying so much gold. Speaking about Russia’s massive purchases this year, one host asked, “How long can you use gold to prop up your currency, ultimately?” Rhind politely set her straight that gold is not an asset used to simply “prop up” currencies. If he’d had more time, he might have pointed out how much value the US dollar has lost since it has been off the gold standard.
Due in part to central bank buying, Rhind believes that the global gold supply is returning to deficit. He predicts that 2014 might turn out to be the second highest year of gold demand on record.
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.
In an interview with HedgeyeTV, David Stockman explains why he believes we’re on the verge of popping another major financial bubble for the third time in this century. He and Keith McCullough also discuss the potential political fallout from this bubble – who will be the politician to fire Janet Yellen and refute Keynesian policies? They wrap up by talking about Stockman’s recent book The Great Deformation and how the financial media is caught up in a “recency bias” that allows them to ignore the monetary fraud being perpetrated by the Federal Reserve and the government.
While parts of this conversation are a bit technical, Stockman does a great job explaining the fundamental economic and political realities of the United States.
In this SchiffGold exclusive video, Peter Schiff sits with Axel Merk at the recent New Orleans Investment Conference to discuss gold investing in the midst of the currency wars. Like Peter, Axel was one of the few analysts to warn of the 2008 financial crisis and he remains one of the few analysts independent from the mainstream “recovery” consensus. Their conversation covers the history of gold’s price performance, the upcoming Swiss Gold referendum, the role of physical bullion in a portfolio, and much more.
Renowned author and investor Jim Rogers appeared on RT yesterday to share his thoughts about the end of the US dollar as the world’s reserve currency. In this short interview, he suggests that the Chinese renminbi might fill the void left by the dollar. This prediction shouldn’t be much of a surprise to our readers, as we’ve been following the ever-growing gap between the East and West. The big takeaway is this: Rogers is certain that by the end of this decade, the world will be well on its way to completely abandoning the dollar as a reserve currency.
The US thinks that they’re in charge and they don’t have to worry about anything. No, I hate to say it – I’m an American citizen – but you know, there’s a lot of arrogance still in the United States. Especially about the dollar.”
A couple weeks ago, we reported on Alan Greenspan’s prediction that the price of gold would rise. He said this at the New Orleans Investment Conference. In an interview at the Council on Foreign Relations (CFR) the next week, Greenspan commented even more on gold, though the CFR did not publish his thoughts in the official transcript. Most notably, Greenspan explains what so-called “gold bugs” have been telling the skeptical financial media for years:
Gold is a currency. It is still by all evidences the premier currency, where no fiat currency, including the dollar, can match it… Intrinsic currencies, like gold and silver for example, are acceptable without a third party guarantee…”
This post was submitted by Erik Oswald, SchiffGold Precious Metals Specialist. Any views expressed are his own and do not necessarily reflect the views of Peter Schiff or SchiffGold. Check out Peter Schiff’s Gold News every Friday, when Erik will recommend a new entertaining and educational video – the Friday Feature.
For this week’s Friday Feature, I’d like to present “The American Dream”. This animated short takes an elementary look at how the American people have had the monetary rug pulled out from under them. The film investigates the causes of the financial crisis, the origins of money and examines those responsible for creating the Federal Reserve System. While much of the information in this film will be common knowledge to most contrarians, I believe this film is a great tool for educating younger generations about the Federal Reserve and the history of money. Enjoy!
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This post was submitted by Erik Oswald, SchiffGold Precious Metals Specialist. Any views expressed are his own and do not necessarily reflect the views of Peter Schiff or SchiffGold.
In this lecture, Dr. Andrew Bernstein discusses why capitalism is the best system for men to live under, from both socio-economic and moral standpoints. Free markets are ideal for society:
- They make available an abundance of inexpensive and effective consumer products.
- They give the poorest among us the opportunity to rise into the middle and upper classes of society.
- They create an environment where man’s mind is able to function to the best of its ability.
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.
Find more information about the initiative here, here, and here. Full transcript below.
