David Asman interviewed Peter Schiff on Fox Business on Friday. They discussed why inflation created by central banks doesn’t actually create a strong economy, but rather serves to prop up irresponsible governments. Peter also explained why the price of gold is going up even while the US dollar is rising against other currencies.
In his first Schiff Report video of the year, Peter Schiff explains the Swiss news that rattled the foreign exchange markets this week. Peter had predicted that Switzerland would eventually be forced to drop its euro peg, just as he’s been warning that countries like China will be forced to abandon their ties to a weakening US dollar. If investors don’t want to experience even worse losses than Europeans were hit with this week, they need to start preparing for a dollar crisis. Gold has performed very well this year, even while the US dollar and stock market moved higher, which Peter sees as an indicator that a new bull trend has started in precious metals.
In his latest podcast, Peter Schiff provides more in-depth analysis of how the Swiss National Bank’s monetary policy could affect the US dollar in the long-term.
Markets are still reeling from yesterday’s news that the Swiss National Bank has removed the currency cap on the Swiss franc. Still wondering exactly what this means for European and American investors? Peter Schiff explains to RT what this means in the larger context of the international currency war. It’s good news for the Swiss people, but Americans still have a long way to go before losing confidence in the Federal Reserve.
Kitco News spoke with forecaster Gerald Celente about the grand manipulation of global markets by central banks. Celente argues that the only reason the gold price isn’t $2,000 is because of the low interest rates and quantitative easing of the Federal Reserve. He predicts a panic in US equity markets in 2015 and a resurgence in precious metals.
In yesterday’s podcast, Peter Schiff addressed the current stock market volatility, the United States housing market, retail sales numbers, and the American recovery fantasy.
The price of gold took off this morning when news broke that the Swiss National Bank has removed the euro cap on the Swiss franc. For three years, the franc has had a ceiling of 1.20 francs per euro. When the cap was removed, the currency surged 30% against the euro, sending currency traders scrambling into gold as a safe haven. Gold surged more than 2% and is currently hovering around $1,260.
Currency markets aren’t alone in their volatility this week.
Famed contrarian investor Marc Faber has predicted that gold will go up “substantially” in 2015, perhaps as much as 30%. Much like Peter Schiff, Faber sees 2015 as the year that the markets wake up and realize that central banks are no longer capable of artificially supporting asset prices.
Faber’s investment advice comes down to shorting central banks:
My belief is that the big surprise this year is that investor confidence in central banks collapses. And when that happens — I can’t short central banks, although I’d really like to, and the only way to short them is to go long gold, silver and platinum… That’s the only way. That’s something I will do.”
Janet Yellen claimed the Federal Reserve is going to hit the interest rate gym this year, but we all know how New Year’s Resolutions turn out… Please share and enjoy the latest comic from Lampoon the System.
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In his latest podcast, Peter Schiff dissects the jobs numbers from December, Obama’s new community college plan, and Charles Evans’ call for more inflation. Peter continues to be one of the few reporting on the reality underlying the headline jobs numbers, though Paul Craig Roberts just published an enlightening article at LewRockwell.com. Roberts looks at the Shadow Stats employment data for December and reveals that real unemployment is more like 23% – not 5.6% as reported by the government.
