Peter Schiff discusses why the recent sell-off in gold and silver defies the fundamentals, ignores the facts, is predicated on a myth, and has succeeded in creating the necessary level of skepticism and fear to finally propel precious metals to new record highs.
Peter Schiff was back on CNBC Wednesday, and discussed gold’s latest raid, and The Vampire Squid’s latest Muppet call for a major decline in gold. [Read more...]
Money manager Peter Schiff says, “Cyprus is a wake-up call for everybody who has a bank deposit. . . . When you are depositor, you are in fact . . . lending your money to the bank.” Schiff predicts, “There’s no question . . . banks will fail. The question is will government do the right thing and allow depositors to lose money. Or, do the wrong thing and bailout depositors by printing a bunch of money which, in the long run, means deposits will lose even more value.” The FDIC has just $33 billion to insure more than $10.8 trillion in deposits. Schiff is not expecting bank runs anytime soon. “Don’t expect an immediate stampede on the banks because I don’t think most people are smart enough to realize what the danger is,” says Schiff. What’s the best way to protect yourself? Schiff says, “Why would you leave any extra money in a bank to get zero percent interest. . . . I think pull your money out, put it into some kind of investment. . . . anything other than a piece of paper that’s going to lose value.” Join Greg Hunter as he goes One-on-One with Peter Schiff. [Read more...]
In an interview with TheBlaze, Peter Schiff makes the case that Bernanke is attempting to re-inflate the housing bubble, and states the Fed won’t stop the monetary heroin until we die of an overdose, and that the reckless monetary counterfeiting will result in a total collapse of the US dollar!
i.e. QE TO INFINITY until the dollar collapses into hyperinflation!
Schiff’s full interview is below: [Read more...]
In the latest Schiff Report, Peter Schiff discusses a topic regular SD readers are familiar with- the government’s manipulation of public perception of inflation due to the bogus CPI statistic.
Schiff states that The CPI is no longer a tool to accurately measure inflation, but an instrument of propaganda the government uses to hide accelerating inflation from the public and financial markets. Modest CPI increases over the past several years do not reflect an absence of inflation, but a design flaw in the index that fails to fully capture the magnitude of price increases. Central bankers drawing economic conclusions regarding inflation and monetary policy based on this highly flawed data point are making a major policy error.
Schiff’s full report below:
Money manager Peter Schiff warns that Japan will likely stop buying U.S. government debt. He contends, “If the Central Bank of Japan has a choice between monetizing Japanese debt or U.S. debt, they’ll go for their own debt . . . that means the Fed has to print even more money.” Closer to home, the new debt deal also means more money printing because of even bigger deficits. According to Schiff, “The majority of the tax increases were cancelled. The spending cuts were cancelled . . . the Fed is going to have to keep buying bonds to keep interest rates from surging.” Schiff thinks talk from the Fed about stopping the $85 billion a month money printing (QE) is preposterous. Schiff says, “They can’t do it. . . . The minute they try to take the cheap money away, the phony economy is going to crumble.” What’s not going to crumble is the gold and silver market. Even though precious metals have been down recently, Schiff says, “So what, buy more. Look at the sell off as an opportunity to unload more of your fiat currency and get some real money.” Join Greg Hunter as he goes One-on-One with Peter Schiff. [Read more...]
We know that US public debt has been growing, but where is the dollar collapse Peter Schiff has publically predicted? The US dollar index, instead of collapsing, has gained value since 2011, so where is the hyperinflation? It’s true that base money has increased over the past four years, and that the Fed’s balance sheet has more than tripled in size since the onset of the financial crisis, but rather than seeing interest rates spike, we have seen US treasury yields collapse by over 60% since the collapse of Lehman Brothers. Could it be that Peter Schiff and others who have been calling for high or hyperinflation are underestimating the role of the financial system in affecting the money supply through loan growth and other forms of financial engineering? We ask Peter Schiff, CEO of Euro Pacific Capital, what happened to his calls for hyperinflation. Peter admitted to us that hyperinflation may not happen after all, but still maintains that inflation will reach very high levels, perhaps as high as 30%. [Read more...]
In this MUST WATCH CNBC interview, Peter Schiff states that in only a few years people will look back at $1700 gold with nostalgia as gold will be trading at $5,000/oz!
Schiff states the pace of inflation in accelerating, and gold’s ascent will also accelerate in the near future. Schiff states the USDX will be cut in half, and will trade around 40!
CNBC’s rebuttal: gold can’t go to $5,000/oz because nobody will be able to afford it.
Full interview below:
Peter Schiff discusses a just released Fox News Presidential Poll which confirms that inflation is a bigger concern for voters than unemployment and the housing market combined. In fact, more than twice as many registered voters are concerned about the “inflation” tax as are worried about all other federal taxes combined!
Thankfully, the ChairSatan assures us that inflation is UNDER the Fed’s 2% theft target. Perhaps more people need to listen to the ChairSatan rather than observing their grocery and fuel bills! [Read more...]
Money manager Peter Schiff says, “The stage has been set for a currency crisis and a sovereign debt crisis, and they’re going to come relatively soon.”
Schiff says the latest round of “unlimited” money printing by the Fed has only “postponed the collapse.” Schiff thinks, “The longer we wait, the worse it’s going to be.” So, why don’t politicians do something to stop the collapse that many know is coming? For one thing, Schiff says, “The political backlash will be enormous. . . . Nobody wants to be the messenger who gets shot because of the message.” There is going to be a crisis dead ahead because, according to Schiff, “The dollar is vulnerable to a massive collapse . . . buy gold and silver.”
USA Watchdog’s Greg Hunter goes One-on-One with Peter Schiff. [Read more...]