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By Peter Schiff By supposedly compromising to raise the debt ceiling, Congress and the President have now paved the way for ever higher levels of federal spending. Although, the nation was spared the trauma of borrowing restrictions, the actual risk of default existed solely in the minds of Washington politicians. But the real crisis is […]
Michael Pento’s Market Commentary The debt ceiling debate that has dominated the headlines over the past month has been thoroughly infused with a string of unfortunate misconceptions and a number of blatant deceptions. As a result, the entire process has been mostly hot air. While a recitation of all the errors would be better attempted […]
By Peter Schiff I have been forecasting with near certainty that QE2 would not be the end of the Fed’s money-printing program. My suspicions were confirmed in both the Fed minutes on Tuesday and Fed Chairman Ben Bernanke’s semi-annual testimony to Congress yesterday. The former laid out the conditions upon which a new round of […]
By Peter Schiff As attention focuses intently on the negotiations to raise the debt ceiling, House Republicans have made a great show of drawing a line in the fiscal sand. They claim that they will not vote for any deal that includes tax increases to narrow the budget deficit. But we all know how the […]
Michael Pento’s Market Commentary Those who take issue with the outlook of Austrian economists in general, and Euro Pacific Capital in particular, have pointed to the persistence of low bond yields as proof that our philosophy does not hold water. We argue that as the United States takes on ever more debt and prints greater […]
By Peter Schiff Imagine a day when you go to buy a quart of milk, ask the price, and the cashier says, “that’ll be a tenth ounce silver.” As the US dollar’s decline accelerates, several efforts around the country are trying to make this vision a reality. Historically, paying for items in silver or gold […]
The following article was written by Mary Anne and Pamela Aden for the July 2011 edition of Peter Schiff’s Gold Letter. The answer is no. Even though gold is currently under pressure, the major trend remains up and the fundamentals are still very positive.
Crisis of Confidence in US Dollar Possible: UN Financial Post – Ban Ki-Moon has just won a second term as UN Secretary-General. Kudos. The eroding value of his tax-exempt salary denominated in US dollars, however, is less cause for celebration. A mid-year review of the world economy by the UN’s economic division points out that […]
Michael Pento’s Market Commentary For the better part of a century the foundations for a semi-comfortable retirement for many Americans have rested on the financial pillars of rising real estate and equity prices, positive real interest rates on savings, the continued solvency of public and private pension plans, and the reliability of national entitlement programs […]
Michael Pento’s Market Commentary As the U.S. economy seemingly limps out of the Great Recession most analysts now assume that the Federal Reserve will soon join the tide of other central banks and bring an end to the current era of unprecedented monetary expansion. Markets expect that Fed will begin withdrawing liquidity this summer, not […]
