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POSTED ON March 19, 2015  - POSTED IN Guest Commentaries, Interviews, Videos

Peter Schiff is one of the only voices warning that the Federal Reserve is going to start a new round of quantitative easing instead of raising rates. You can add well-known investor and analyst Jim Grant to the list of contrarian economists. Yesterday, Grant told CNBC that the Federal Reserve will revert to its worn-out policy of quantitative easing instead of a rate hike.

Grant went on to paint a sobering picture of the American economy. He argues that the Fed’s policy of heavy-handed intervention has, unfortunately, entered the bloodstream of mainline politics. Washington might try to manipulate the economy by decree, but at the end of the day, it can’t change the economic reality that free exchange doesn’t depend on government oversight.

POSTED ON March 19, 2015  - POSTED IN Original Analysis, Videos

Peter Schiff responds to the hubbub surrounding the Federal Reserve’s dropping of the word “patient” from its policy statement. Janet Yellen’s diction is meaningless, but if you look closely it also reveals that the Fed is far more dovish than people think. The Fed can play all the mind games it wants with the markets, but it can’t stop the inevitable crash of the US dollar. Remember — when you know how the game is going to end, play for the endgame.

POSTED ON March 18, 2015  - POSTED IN Guest Commentaries, Interviews

Bloomberg hosted ANZ Chief Economist Warren Hogan to discuss Asian demand for gold. Hogan co-authored a new study showing that gold demand in Asia is poised to rise substantially. As supply constraints lift and incomes in the East rise, consumers in countries like China and India will continue to buy record amounts of gold. More importantly, Hogan believes that China may be stockpiling gold as part of a maneuver to un-peg their currency from the dollar.

15 03 18 Hogan

The first thing we need to understand is that we don’t actually get regular reporting on how much gold the PBOC holds. At last count, a few years ago, it was about a thousand tons. We will be due to get an update in the next year or so. China’s clearly got a gold strategy as a broad view… Whether or not it’s the central bank that is buying the gold or it’s in the broader community is not necessarily clear. But the reality is the renminbi moves towards floating and is a major global currency.”

POSTED ON March 18, 2015  - POSTED IN Guest Commentaries, Interviews

Bloomberg had a roundtable discussion with Nobel Laureate Robert Shiller, author of Irrational Exuberance, about keeping past economic disasters in mind. In particular, they discussed the worry that the stock market is on the verge of another 1937 and a 50% correction.

1937 was the year that the word ‘recession’ was invented. Did you know that? … It was invented because Franklin Delano Roosevelt wouldn’t call it a ‘depression’. He thought the psychology was horrible, just horrible.”

15 03 18 Shiller Bloomberg

Shiller doesn’t believe harking back to the Great Depression is simply fear mongering, because we live in a “black swan” world. Economic events are unpredictable, and learning from the past is a practical way to prepare for the unknown. Investors might want to step away from the fast-paced world of speculation and take a look at the bigger picture.

Last week, we showed that stocks are currently at a peak similar to the one that occurred just before the Great Depression. To analysts like Shiller and Peter Schiff, it’s becoming increasingly apparent that the economy may be on the edge of another major recession.

POSTED ON March 18, 2015  - POSTED IN Interviews, Videos

The financial media are obsessed with whether or not the Federal Reserve is going to remove the word “patient” from its policy statement concerning an interest rate hike. CNBC asked Peter Schiff for his take, and he told them that the Fed’s statement is meaningless — the Fed can’t raise rates without pushing the United States economy into recession. The host and floor traders insisted that this bubble economy is different, and Peter agreed. This time around, low oil prices aren’t translating into strong consumer spending and the government is in far more debt than the last time it successfully raised rates. He fully expects another round of quantitative easing in the next year.

POSTED ON March 17, 2015  - POSTED IN Guest Commentaries, Interviews, Videos

In a long interview with Gordon T. Long, Managing Director of the Lindsey Group Peter Boockvar warns that the Federal Reserve has been creating artificial bubbles for years. In fact, we’re now facing the third bubble in 15 years. The mainstream news claims we’re not in a bubble because “things are different this time.” But Boockvar echoes exactly what Peter Schiff has been saying — of course this bubble looks different. All of the others looked different too until they popped. He also shares some fundamental gold investment advice: watching short-term price movements is useless. Once people stop placing trust in the Fed, gold has the potential to skyrocket in value.

POSTED ON March 17, 2015  - POSTED IN Guest Commentaries, Interviews, Videos

With typical incisiveness, David Stockman laid out for Bloomberg the precariousness of the US economy. The former White House Budget Director called out the Republicans for their failure to do anything about the runaway budget deficit. He expects the government to do what it always does: blink in the eleventh hour when faced with a government shutdown. The Bloomberg host often tries to soften Stockman’s statements, but Stockman picks the issues right back up and paints a sobering picture of American economic instability.

POSTED ON March 17, 2015  - POSTED IN Guest Commentaries, Interviews, Videos

Dr. Joseph Salerno, Academic Vice President at the Mises Institute, spoke with Power Trading Radio about the declining value of fiat currencies and the Federal Reserve’s incentive to depreciate the dollar. The interview is long, but Salerno’s comments are a good primer on how precious metals became — and remain — sound money. He also discusses the growing consensus on both sides of the aisle that the Fed needs to be audited. In fact, he believes we’ll see a full audit of the Fed within 5 years.

POSTED ON March 16, 2015  - POSTED IN Original Analysis, Videos

The Bloomberg ECO US Surprise Index is at its lowest since 2009, which means that forecasts for economic data haven’t been more wrong for six years. Bloomberg asks, “Is this a sign of unanticipated weakness in the economy?” At first, it seems like the mainstream media is actually waking up to the fact that the American economic recovery is bogus. However, the piece goes on to give a number of excuses for why nearly every piece of economic data beyond jobs numbers can be ignored.

15 03 16 bloomberg expectations

Peter Schiff, on the other hand, has been answering Bloomberg’s question directly for months — yes, this is a sign of economic weakness and no, it’s not unanticipated. In his latest podcast, Peter asks the bigger question: Apart from employment figures, why are we seeing some of the worst economic data since the depths of the 2008 financial crisis?

POSTED ON March 13, 2015  - POSTED IN Key Gold Headlines

For the fourth month in a row, Gallup found that Americans named the government as the biggest problem in the United States. Jobs and the economy tied for the second-most worrisome problems. Together, these three issues are the top concerns for almost 40% of Americans.

15 03 13 gallup top worries

Though issues such as terrorism, healthcare, race relations and immigration have emerged among the top problems in recent polls, government, the economy and unemployment have been the dominant problems listed by Americans for more than a year.”

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