Gordon T. Long explained to USAWatchdog why he sees hyperinflation coming to America in the future and how investors should prepare for an escalated war on cash. While Long agrees with analysts like Peter Schiff and Marc Faber that the world is facing a debt crisis and major currency upheavals, he believes the world is still in the early stages of this massive transformation. Long said, “Even though it’s the biggest problem, [the dollar] will be the last to fail.”
However, when it does fail, he predicts the dollar could be officially devalued by 80% or more. For that reason, Long is extremely bullish on the precious metals in the long-term. Long is a well-known and respected economic analyst who worked for decades as a senior executive with IBM and Motorola.
Tom Woods and Mark Thornton, a Senior Fellow at the Mises Institute, discussed the reality of financial market manipulation by central banks. This excellent, easy-to-understand conversation explains how the Federal Reserve’s monetary policies enrich Wall Street bankers while destroying the wealth of the middle and lower classes. At the same time, this financial repression undermines the concept of capitalism and free markets.
If you’re planning on buying gold later this summer or in the fall, you might want to consider acting sooner.
A looming miners strike in South Africa could push gold prices up in the near to medium-term.
According to a Reuters report, “South Africa’s Association of Mineworkers and Construction Union [AMCU] could launch a wildcat strike if its rival union and gold mining companies extend a wage deal to its members.”
Greg Hunter interviewed Gregory Mannarino about the debt-based economic model of the modern financial system. Mannarino just called a top in the US stock market, days before the Dow Jones dropped into negative territory for 2015. Mannarino also believes the precious metals have touched bottom.
When cash is leaving the bond market, the yields will spike. That will put pressure on equities. All of that cash does not go to money heaven. It will look for a place to go. It’s going to go into commodities, in my opinion, because they are real. We’re going to see wealth move into those types of assets.”
In a new written commentary for Euro Pacific Capital, Peter Schiff examines a recent CNBC interview with Larry Lindsey, a former Federal Reserve Governor and White House Chief Economist. Peter points out that Lindsey is one of the few government economists whose forecasts approached reality, and Peter commends him for urging the Fed to raise interest rates.
However, Peter doesn’t think Lindsey goes far enough in his warning. Watch Lindsey’s interview below, then read Peter’s commentary.
The Bunch Bowl Stays
By Peter Schiff
It is well known that I don’t think much of the ability of government officials to correctly forecast much of anything.
When an investment columnist who makes it a point to tell you, “I am no gold bug,” writes a column entitled “Gold can glitter if stocks hit the rocks,” it should serve as a pretty good indication now may be the right time to invest in gold.
Jeff Reeves writes for MarketWatch, “…given the continued volatility in the stock market and the risk of a correction, it’s worth considering a targeted bet on the precious metal.” Reeves is usually a technical analyst of the precious metals markets, while we look at the fundamental reasons for investing in gold and silver. When these two methods of analysis align, investors should take note.
In fact, there are a number of factors that indicate investors should consider gold now.
In part two of this face-to-face discussion, Peter Schiff and Mike Maloney turn to the precious metals. Has the price of gold ever been overvalued, or is it still undervalued? In a world of debased paper money, what roles can gold and silver play in the future?
View part one of their conversation here.
Access their full, 5-year gold forecast here.
This is part two of a series we’ve produced from this valuable discussion. Videos on new topics will be released weekly for the rest of the month.
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Last week, International Monetary Fund Managing Director Christine Lagarde said that the Federal Reserve should delay any interest rate hikes until 2016.
Higher US policy rates could still result in significant market volatility with financial stability consequences that go well beyond the US borders. In weighing these risks, we think that there is a case for waiting to raise rates until there are more tangible signs of wage or price inflation than are currently evident. In other words, we think a rate hike would be better off in early 2016.”
Peter Schiff reviews the latest economic data in his podcast. Mainstream analysts write off an overwhelming amount of poor economic data while focusing solely on a decent jobs number. Peter strives to focus our attention on the bigger picture, pointing out that the Federal Reserve can’t possibly raise interest rates this year.
Nobel-winning economist Robert Shiller told CNBC that he sees another big bubble forming throughout the United States. He calls this boom the “New Normal Boom” and warns that deep down, investors believe the US economy isn’t truly recovering.
