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By Peter Schiff Economic data over the past weeks, punctuated by last week’s dismal employment reports, confirm the diminishing impact of the stimulus efforts orchestrated by the Obama Administration and the Federal Reserve. In what must be a huge disappointment to Keynesian enthusiasts, the record doses of both monetary and fiscal narcotics did not produce […]
Factbox: Gold Milestones on the Way to the Summit Reuters – On Monday, May 2nd, gold attained an all-time record high of $1,575.79/oz. In commemoration of this historic milestone, a Reuters Factbox captures some important dates in gold’s trading history since the early 1970s: August 1971, Nixon takes dollar off gold standard; January 1980, gold […]
By Peter Schiff My readers are familiar with my forecast that the US dollar is in terminal decline. America is tragically bankrupt, unable to pay its lenders without printing the dollars to do so, and enmeshed in an economic depression. The clock is ticking until the dollar faces a crisis of confidence like every other […]
The following article was written by Mary Anne and Pamela Aden for the June 2011 edition of Peter Schiff’s Gold Letter. Volatility infected silver in particular. As it approached its old record high, investors got nervous and it dropped some 27% in just one week. But considering silver has soared over 1,000% over the past […]
Michael Pento’s Market Commentary The artificially engineered U.S. recovery is already starting to falter as a continuous procession of disappointing data continues to confirm the sad truth. Recent numbers on GDP, durable goods, housing, regional manufacturing, initial unemployment claims and leading economic indicators all indicate a sharp slowdown in GDP growth. Just today the ADP […]
Michael Pento’s Market Commentary Based on many pronouncements by economic policy makers, reams of articles by the top financial journalists and near continuous discussion on the financial news channels, it appears that the quantitative easing juggernaut that has steamed the high seas of macroeconomics for the last three years is finally pulling into port…supposedly for […]
By Peter Schiff Today the U.S. government officially borrowed beyond its $14.29 trillion statutory debt limit. And even though the Obama administration has assured us that accounting gimmickry will allow the government to borrow for another few months, the breach has given seeming urgency to Congressional negotiations to raise the debt ceiling. Republicans are making […]
By Peter Schiff I have worked on Wall Street my entire life, and one thing I’ve learned is that large institutional investors, like pension funds and endowments, rarely veer from the herd. They manage too much of other people’s money to stick their necks out alone – if their investments go bad, at least they […]
The following article was written by Mary Anne and Pamela Aden for the May 2011 edition of Peter Schiff’s Gold Letter. To hear Fed chairman Ben Bernanke tell it in his press conference this past month, the US stock market is in the beginning stages of a moderately paced recovery. Many on Wall Street are […]
Gold Breaks $1,500 An Ounce New York Times – The price of gold broke through the psychologically significant $1,500 an ounce barrier on Wednesday, April 20th for the first time. Global inflation and sovereign debt concerns, geopolitical unrest in the Middle East, and mounting Asian demand combined to drive the precious metal to a new […]
