Oil prices crashed early this week as Russia and Saudi Arabia launched a full-blown price war. The big drop in the price of oil pulled stocks down yet again, with the Dow Jones losing over 2,000 points. But in an interview on RT, Peter Schiff said he thought the drop in oil would prove to be short-lived because ultimately the dollar is going to collapse.
On Sunday, March, 1, Peter Schiff appeared on Fox News to discuss the market and economic turbulence surrounding coronavirus. Peter said the coronavirus isn’t the real problem. It’s the Fed. Everything the central bank has done since 2008 has only made things worse and set us up for an even bigger crisis.
Peter opened up the interview saying that even with the big declines through the previous week, the US stock market is still significantly overvalued.
Peter Schiff recently appeared on SmallCap Power with Mark Bunting to talk about the stock market bubble. He said it’s the same type of bubble as 2008, only bigger.
The source is the same. It’s artificially low interest rates. It’s quantitative easing. The central bank, the Federal Reserve, is responsible for the rise in the stock market.”
As you may know, several years ago, Peter Schiff relocated to Puerto Rico. Have you ever wondered why? What are the advantages? And what can his move teach us more generally about economics and politics?
Peter recently appeared on the Puerto Rico ICON Podcast and answers some of those questions.
The spread of coronavirus in China has made markets jittery. Stocks have gone into a slide and gold has pushed up on safe-haven buying. Last week, Peter Schiff appeared on RT Boom Bust to talk about it. He said that 2020 may well be a bad year for the stock market, but probably not because of the virus. The real problem is markets are overvalued and the air will eventually come out of the bubble.
On Jan. 19, Peter Schiff did an interview with Daniela Cambone on Kitco News to kick off the Vancouver Resource Investment Conference. Peter said gold is going to go through the roof, and he explained exactly why. He also offered a little historical context.
The interview began with a look at recent headlines in the news. With the war drums quieted and a Phase 1 trade deal signed, can markets breathe a sigh of relief?
On Jan. 13, Peter Schiff appeared on RT Boom Bust with Bubba Horwitz to talk about the yuan, the dollar, the stock market and the US economy. Peter said the dollar is eventually going to collapse and it’s going to be a rude awakening for Americans.
The Chinese yuan has been gaining strength against the dollar in recent weeks, in part because of optimism that there will eventually be a resolution to the trade war. But the Chinese currency is still over 17% lower than it was when the US imposed its first tariffs. Does this mean the markets are cautiously positioning for a deal, or is there still skepticism about the phase 1 deal? Peter focused on the bigger picture.
Is now the time to get into gold? Peter Schiff appeared on Fox Business last week to talk about it with Charles Payne.
Peter said the current bull run in gold started about four years ago when the Federal Reserve started raising interest rates in 2015. Over the past four years, the price of physical gold has risen by about 50% and gold stocks have doubled that. In fact, the return on gold stocks has been about 50% better than the S&P500 as a whole over that time.
Gold has been surging since a US airstrike killed a prominent Iranian general. After Iran retaliated with missile strikes on US bases in Iraq, gold briefly pushed about $1,600 per ounce — an eight-year high.
Peter Schiff appeared on RT Boom Bust along with Bubba Horwitz on Monday to talk about the current geopolitical situation and its potential impact on the economy. He said tensions in the Middle East are increasing the risk premium, but there is a more fundamental reason gold is going up — Federal Reserve monetary policy. He also noted that the risks to the US aren’t so much military as economic. The US depends on foreigners buying dollars. Peter emphasized that gold is the best hedge in the current climate.
Peter Schiff recently recent sat down and talked to Daniela Cambone at Kitco News about the economy, politics, and gold. In part 1 of the interview, Peter said the Fed was not going to be finished cutting interest rates until it gets to zero. That will have serious ramifications for the US economy. With that in mind, Peter said now is the time to buy gold – before the masses figure out what’s going on in the economy and flock to the yellow metal.