Howard Davidowitz, an expert retail analyst, spoke with Yahoo! Finance about Walmart’s poor earnings report and what it indicates for the rest of the US economy.
The economy is in a state of collapse… I think there’s a 50% chance we’ll be in a recession next year… That’s after spending $7 trillion dollars, printing trillions, and announcing we were brilliant to have done it… We’re in the tank, and by the way, our debt never goes away… We’ve spent all the money, we’ve borrowed all the money, and we’re in the tank…”
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Fox Business spoke with Peter Schiff yesterday about the growing number of Americans renouncing their US citizenship because of onerous taxes and regulations. Most people probably can’t afford to renounce their citizenship, but they can buy gold and silver as a way of escaping the collapsing dollar.
I think over time, more and more entrepreneurs, young people who want to make something of themselves and who find it a lot more difficult to do it here, because of their taxes and regulations – they’re going to want to leave. And I think a lot of Americans are going to want to get their money out of the US because of the inflation that I see coming and the weakness in the dollar.”
Watch the latest video at video.foxbusiness.com
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Yesterday, Yahoo! Finance asked Peter Schiff who he would choose as the next Federal Reserve Chairman. Unsurprisingly, Peter does not believe any of the candidates have the integrity to do the right thing with the economy.
The mandate [the Fed] needs to keep under control is sound currency, to preserve the value of our money… If it follows that mandate, then we’ll have prosperity, we’ll have lots of job creation, lots of economic growth. It’s when they try to fine tune the economy by playing around with interest rates and money supply that we have big problems in the economy.”
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Lewis E. Lehrman, author of the new book, Money, Gold, and History, spoke at the Cato Institute last month about the history of central banking and the destruction of the gold standard. Lehrman’s lengthy talk is a great introduction to the rise and fall of real money. His new book includes 40 years of essays on the classical gold standard.
Working people have also discovered that the credit worthy liquid financial class with access to cheap money at the Fed and at the banks has enriched itself not only by bailout subsidies, but by cheap financing derived from its symbiotic dependence on the Federal Reserve System. This [is] a fundamental cause of the rising inequality of wealth in America.”
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Bob Alderman, Managing Director for the World Gold Council, speaks about the enduring value of gold and the yellow metal’s current role in a long-term investment strategy.
The case for owning gold is a simple supply and demand story, [and] it has always been that way. What’s changed over the past several months is that there is clearly a supply situation where it may be constrained. And from a demand perspective around the world, including here in the United States, there is certainly increased demand for both physical gold, as well as jewelry.”
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This morning Peter Schiff appeared on CNBC to give his take on speculative and physical gold investing and the false narratives of a US economic recovery. At the end, he has a short debate about Ben Bernanke’s place in history.
When the [gold] speculators realize how wrong they have it and when they try to reverse those positions, I think a lot of the gold that they sold on the way down is not going to be available for sale on the way up. I think you’re going to get a huge spike in prices.”
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SchiffGold is excited to announce an exclusive new product – Silver Barter Bags. In this five minute video, Peter Schiff demonstrates the product and explains the advantages of 1/2 troy ounce silver barter rounds.
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1/2 oz Silver Rounds .999 Fine Silver
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Peter Schiff appeared on CTV yesterday morning to talk about phony government economic data.
[Government economic statistics is not] really information, it’s more like propaganda. Individuals and investors need to look through that government smoke screen, open up their eyes and see what’s actually happening… If you look at the contracting labor force, the declining use of energy, the explosion of poverty in America and income inequality, record numbers of people on food stamps and disability, all the part-time jobs that are now replacing the full time jobs… All of this is consistent with a shrinking economy, but the government won’t admit it.”
Watch the Full Video Here
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In his latest interview with Greg Hunter of USAWatchdog, Peter Schiff explains the turnaround in gold prices and what investors should be prepared for in the future.
[Gold] is really setting up for a huge reversal, because once the technicals turn around and the momentum goes back to the upside…the gold [that speculators] sold on the way down isn’t going to be available on the way up… The people who own it aren’t going to sell it at any price, because they didn’t buy it to trade out of it. They bought it to own it, to keep it. So this is going to be a big problem for the shorts, and even people who want to re-establish longs, because I think most of the people who want to get back into the market are going to get back in a lot higher than people got out.”
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In an excerpt from his radio show on Wednesday, Peter Schiff looks at the latest international data on median household incomes. It may surprise you that America is not anywhere close to #1, despite being known as the land of prosperity and opportunity.
[Obama’s] got a new concept, ‘the middle out’. He wants to grow the economy from the middle class out… This is the economic cart before the horse. We don’t have a strong economy because we have a strong middle class; we have a strong middle class because we have a strong economy… The reason the middle class is shrinking is because you destroyed the incentives for people to create wealth and to employ people. It’s because of the policies that were targeted at the so-called rich. That’s why the middle class is disappearing.”
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