Russia Today spoke with Peter Schiff about the United States’ international spy activity and what effect it will have on the strength of the US dollar.
[Europe is not economically dependent on the US.] I think it is the other way around – the US is very dependent on the rest of the world. It is just incumbent on the rest of the world to figure that out. But the US dollar is still functioning as a reserve currency, so the dollar is a part of larger transactions but there is no reason for the dollar to be at the center of these transactions because the dollar shouldn’t be a reserve currency. Maybe at one time when we were the world’s largest exporter, as far as biggest trade surpluses, we had high savings rates, and the dollar was backed by gold. [At] one time maybe the dollar deserved to be a reserve currency, but certainly those conditions have changed dramatically.”
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The June edition of the Silver Institute’s Silver News is now available. This issue is full of news from the silver industry, highlighting some of the most interesting inventions and applications using silver today. Silver’s natural anti-microbial properties are being explored by industries around the world, ensuring demand for the white metal for many years into the future. Among other news, you’ll learn about:
- A new “drinkable book” that uses silver to filter water with its pages.
- Silver for use in bone implants.
- Cyanide-free, silver-based finishes from Dow.
- The rapidly growing market for silver inks and pastes.
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Interested in learning about the best ways to buy gold and silver?
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The news came out last week that Germany has changed its mind and will allow its foreign gold reserves to remain in the vaults of the New York Federal Reserve. Read the story here. With the World Cup occurring simultaneously, Lampoon the System couldn’t help but poke a little fun…
Jon Pawelko publishes the web comic Lampoon The System to poke fun at insane economic policies and educate the public on sound economics.
Click here for more cartoons and information on his anthology book, available for only $15.
Follow us on Twitter to stay up-to-date on Peter Schiff’s latest thoughts: @SchiffGold
Interested in learning about the best ways to buy gold and silver?
Call 1-888-GOLD-160 and speak with a Precious Metals Specialist today!
In case you missed the news, SchiffGold is now the world’s first major gold dealer to accept bitcoin, the digital currency that has been called the biggest innovation since the internet. We’ve partnered with industry leader BitPay to securely process your bitcoin payments when buying gold and silver. Whether you choose to pay in dollars or bitcoin, our prices remain the most competitive in the marketplace today.
Bitcoin has already generated fortunes for its early adopters, but it remains a new technology. Those seeking to protect their savings from the US dollar’s decline must consider building a healthy allocation of physical gold and silver in their portfolios. Precious metals remain history’s most reliable store of wealth. We are pleased with the bitcoin community’s response to our announcement, and we hope to serve as a valued resource in the months and years to come.
Bitcoin payments may be most useful to international customers who are concerned about the expense and difficulty of sending currency across borders. We ship to Canada and worldwide, and using bitcoin is the fastest way to receive your order.
¿Habla español? Ahora puedes pagar con Bitcoin a través de nuestra pagina SchiffOro.
Director of Marketing Mike Finger sums up our philosophy:
Bitcoin offers tremendous benefits as a medium of exchange for both our domestic and international customers. A wire transfer of fiat funds can be slow and expensive for the customer, and credit card fees are too high to absorb at the low premiums we offer. Not only does BitPay’s service make business sense, but we are excited about giving owners of bitcoin the opportunity to inexpensively and reliably convert any excess holdings into precious metals rather than back to fiat currency.”
Interested in learning more about bitcoin?
Do you own bitcoin and want to diversify into precious metals?
Our friendly Precious Metals Specialists are available
to answer all your questions:
Call 1-888-GOLD-160 (1-888-465-3160)
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Click here to chat with a Specialist right from your web browser.
Follow us on Twitter to stay up-to-date on Peter Schiff’s latest thoughts: @SchiffGold
Interested in learning about the best ways to buy gold and silver?
Call 1-888-GOLD-160 and speak with a Precious Metals Specialist today!
There’s a marketing gimmick that is becoming more common in the gold dealer business – the “price guarantee.” It sounds like a great deal on its face, but there’s more to it than meets the eye.
Here’s what these dealers will offer:
You call to place an order for gold coins and lock in a price. Within a specified number of days, the spot price may change. If the price goes down, they will add more coins to your order to make up the difference. If the price of the gold coins goes up, they’ll let you buy more coins at the cheaper price.
This price guarantee is pitched as a way of protecting yourself from short-term fluctuations in the price of gold. Thus, doing business with these companies is supposed to be less risky and more transparent.
But here’s the catch – the price guarantee generally applies to only certain products offered by the gold dealer. You can bet that these are not going to be the common and recognizable gold coins most suitable for serious investors.
By Peter Schiff
Even investors who typically eschew precious metals have been hard-pressed to ignore the platinum industry this year. The longest strike in South African history paired with surging Asian demand is set to push the metal back into a physical deficit in 2014 – and could have repercussions for years to come. While gold remains the most conservative choice for saving, the “industrial precious metal” platinum is a compelling investment for those, like me, who are bullish on global net economic growth.
Jon Pawelko publishes the web comic Lampoon The System to poke fun at insane economic policies and educate the public on sound economics.
Click here for more cartoons and information on his anthology book, available for only $15.
Follow us on Twitter to stay up-to-date on Peter Schiff’s latest thoughts: @SchiffGold
Interested in learning about the best ways to buy gold and silver?
Call 1-888-GOLD-160 and speak with a Precious Metals Specialist today!
Huge Gold Refinery Under Construction in Dubai
Reuters – One of the world’s largest gold refineries is being built by Kaloti Precious Metals in Dubai and is scheduled to be completed next year. The refinery will be three times the size of any other refinery in the United Arab Emirates, with a production capacity of 1,400 metric tons of gold and 600 tonnes of silver per year. The $60 million project is part of an effort to turn Dubai into a world leader in the physical gold trade, which is also why the Dubai Gold and Commodities Exchange is planning to start a spot gold contract in June. Almost 40% of the global physical gold trade passed through Dubai in 2013, and it has already handled $75 billion in gold imports and exports this year. The new spot contract will be structured to appeal to smaller, foreign investors, like Indian jewelers and will have faster delivery times than New York gold trades. Read Full Article>>
London Silver Fix Will Close in August
Reuters – On August 14th, the London silver fix will stop operating.
We are excited to announce that through a new partnership with BitPay, we now accept bitcoin payments! We are the largest precious metals dealer in the world to do so. Speak with one of our Precious Metals Specialists today for more information. Read the full press release below.
NEW YORK – BitPay, world leader in business solutions for Bitcoin digital currency, announces a partnership with SchiffGold (formerly Euro Pacific Precious Metals). Based in New York City, SchiffGold is a major international gold and silver dealer – and the world’s largest by volume to accept bitcoin to date.
SchiffGold is led by famed investor Peter Schiff and specializes in making high-quality bullion coins and bars part of its customers’ financial portfolio. The company has built a reputation for calling out unsavory practices in the gold dealer industry, and for its honest and competitive pricing across all product categories. Executives at SchiffGold regularly seek out new ways to make transactions easier and cheaper for its customers, which is why BitPay was chosen.
“Bitcoin offers tremendous benefits as a medium of exchange for both our domestic and international customers. A wire transfer of fiat funds can be slow and expensive for the customer, and credit card fees are too high to absorb at the low premiums we offer. Not only does BitPay’s service make business sense, but we are excited about giving owners of bitcoin the opportunity to inexpensively and reliably convert any excess holdings into precious metals rather than back to fiat currency,” said Michael Finger, Director of Marketing at SchiffGold.
This partnership marks another major milestone in the acceptance of bitcoin worldwide, as larger and more global companies embrace the digital currency.
“We are very excited to form a partnership with SchiffGold, especially right on the heels of our collaboration with Toshiba. BitPay is honored to have a role in helping such global and established companies integrate bitcoin into their payment systems, ” said Tony Gallippi, Executive Chairman of BitPay.
BitPay is attracting merchants who sell low-priced goods where credit card fees are expensive and high-ticket items such as gold and silver where chargebacks are common and costly. Accepting bitcoins allows merchants to make these transactions irreversible, while eliminating the risk of fraud and identify theft for the buyer.
About BitPay
BitPay is a Payment Service Provider (PSP) specializing in eCommerce, B2B, and enterprise solutions for Bitcoin digital currency.
Follow us on Twitter to stay up-to-date on Peter Schiff’s latest thoughts: @SchiffGold
Interested in learning about the best ways to buy gold and silver?
Call 1-888-GOLD-160 and speak with a Precious Metals Specialist today!
There was big news this week, when a Senate committee heard testimony about widespread precious metals fraud since 2001. The activity has picked up significantly since the financial crisis, with conmen targeting people who want to protect their savings from a crumbling US dollar.
According to the news, US regulators have done virtually nothing to effectively stop the criminal activity. Here are some of the highlights being reported:
• 10,000 American (most elderly) victims since 2001
• $300 million in total losses
• $54 million lost in Florida alone
• 21 prosecuted cases by CFTC – Nobody jailed!
