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Michael Pento’s Market Commentary It now appears that the United States has finally succeeded in its efforts to destroy confidence in the U.S. dollar. Given the currency’s reserve status, its ubiquity in financial markets, and the economic power and political position of the United States, this was no easy task. However, to get the job […]
Michael Pento’s Market Commentary Civil revolt is currently spreading across the Arab world. What began in Tunisia has now metastasized into Bahrain, Egypt and Libya. Though two dictators have been ousted, the chances that these regimes will fundamentally transform from autocracy to a system of free markets and property rights are also up in the […]
Michael Pento’s Market Commentary To counter the increasing demands that government reduce its micromanagement of the economy, last week the Obama Administration offered a fig leaf in the form of a white paper entitled “Reforming America’s Housing Finance Market.” In addition to marking the official end of the Bush era “ownership society,” where increasing the […]
By Peter Schiff Based on his recent public comments, Fed Chairman Bernanke seems determined to give the U.S. dollar the reputation of Egypt’s Hosni Mubarak: an unwanted relic of the past that everyone agrees must go, but stubbornly clings to a privileged position. The dollar is currently the world’s ruling currency, but, as with Mubarak, […]
By Peter Schiff A lot of people ride motorcycles, but there’s a reason most don’t try to be Evel Knievel. Sure, there’s a big reward if you can land a jump over 14 school buses – but what if you don’t? A new craze among our competitors is to push gold buyers into “leveraged accounts.” […]
The following article was written by Mary Anne and Pamela Aden for the February 2011 edition of Peter Schiff’s Gold Letter. The year ended with a bang – record or multi-year highs in gold, copper, silver, palladium, cotton, tin, cattle, and other commodities. 2010 was a particularly great year for the precious metals, as they […]
Michael Pento’s Market Commentary In a heated debate on the February 1st episode of CNBC’s “The Kudlow Report”, financial commentator Donald Luskin offered his “textbook” definition of inflation as “an overall rise in the general price level.” I countered with the “dictionary” definition. My 1988 edition of Webster’s Dictionary defines inflation as follows: “An increase in the volume […]
Utah Could Use Gold, Silver Under Sound Money Act New American – The Utah State Legislature is considering a bill that would require the state government to accept taxes and pay obligations in gold or silver upon demand. The “Sound Money Act” cites the US Constitution’s requirement that “no state shall make anything but gold […]
Michael Pento’s Market Commentary In current economic analysis, inflation is largely in the eye of the beholder, and depending on how you choose to look, very different stories emerge. In the U.S., food and beverages count for just 16.4% of the CPI calculation. The Chinese apparently believe that the basic necessities of life should count […]
By Peter Schiff Back in October of 2009, when Congress first announced the formation of a commission to investigate the cause of the 2008 financial crisis, I knew immediately that their ultimate conclusions would support the agendas of their respective political parties. (Watch the video blog I recorded that day) Particularly, I knew that the […]
