Thursday, October 31, 2013

Peter Schiff Was Right - Taper Edition

When Ben Bernanke announced that the Federal Reserve's Open Market Committee was going to continue its monetary expansion program it calls Quantitative Easing, almost everyone in the financial media was taken by complete surprise. According to the mainstream media, the non-taper "surprised almost everyone out there." Well it did not surprise me, nor anyone who had been paying attention to what I had been saying. As I said repeatedly over the past several months, the Fed knows that the appearance of economic health would evaporate if its stimulus were withdrawn, or even diminished. The Fed understands, as the market seems not to, that the current "recovery" could not survive without the continuation of massive monetary stimulus. In fact, the Fed's next big move will likely be to increase, rather than taper, its monthly QE dosage! One reporter on this video said that its time for the Fed to take the training wheels off the economy. As I have been saying for years, QE is not the training wheels, its the only wheels the economy has. Take it away and the economy stalls. However, as the economy is now headed toward a cliff, taking the wheels off is much better than leaving them on and going over that cliff.

- Source:

Tuesday, October 29, 2013

One on One with Peter Schiff

Author, radio host, investor, and Austrian economist Peter Schiff joins host Jon Caldara to discuss how he uses basic Austrian economics to understand the world around us and accurately predict booms and busts.

Sunday, October 27, 2013

Janet Yellen - Hype VS Reality

Peter Schiff discusses the political theatre that was the government shutdown. He states, nothing EVER changes. The crisis was manufactured.

- Source, The Schiff Report:

Friday, October 25, 2013

Out with the Debt Ceiling

Peter Schiff discusses the debt ceiling on his show. The Peter Schiff Show.

- Source, The Peter Schiff Show:

Wednesday, October 23, 2013

Goldman Sachs Trying To Flush Out Gold Sellers?

Peter Schiff appears on CNBC and discusses how Goldman Sachs is attempting to manipulate the gold market. Also Peter discusses the US debt ceiling.

- Source, CNBC:

Monday, October 21, 2013

Government Creating Phony Crisis

Peter Schiff appears on CNBC and states that the government is creating the phony crisis so they can save the United States!

- Source, CNBC:

Saturday, October 19, 2013

Why is Gold Surging?

Goldman Sachs got it completely wrong, says Peter Schiff, CEO and Chief Global Strategist of Euro Pacific Capital. A budget deal doesn't make gold a "slam dunk sell", as Goldman's head of commodities trading Jeffrey Currie said it would on October 7. Instead, says Schiff, gold is a "screaming buy".

Gold may be up 3% Thursday on a debt deal between Congress and the President. But, Peter Schiff says the yellow metal has more room on the upside to go because of the deal, not in spite of it.

Deficit spending far outweighs the benefits to the overall economy, according to Schiff in his latest note. "US GDP is measured at roughly $15 trillion per year," writes Schiff. "Two percent growth means that each year the GDP is approximately $300 billion larger than the prior year. But in the less than five years since Obama took office, the federal government has added, on average, about $1.3 trillion per year in new debt, a pace that is four times higher than the growth."

So, what does that mean for gold?

Appearing in a no-holds-barred interview on Talking Numbers, Schiff makes his case for why he thinks the recent debt ceiling deal should be bullish for bullion.

"When Goldman came out with that bogus call [saying gold will head down after a deal], I criticized it immediately because the crisis for gold was not that they would raise the debt ceiling, but that they would not," says Schiff to Talking Numbers. "What is bullish for gold is raising the debt ceiling because that means we get more government, we get more debt, [and] we get more inflation. That's bullish for gold."

In other words, Schiff is saying that without leaders aggressively taking on the government's debt, gold is headed higher. "In fact, this is probably the beginning of a much bigger rally," says Schiff.

Schiff believes the Fed won't taper its $85 billion per month bond buying program (known as "quantitative easing" or "QE") which has rallied bonds, lowered yields, and added dollars into the financial system. In fact, Schiff believes that the first thing Janet Yellen will do as Fed Chair is to actually increase the amount of bond-buying...

- Source: Yahoo Finance, read the full article here:

Thursday, October 17, 2013

Janet Yellen Exposed - The Truth Behind the Myth

When President Obama nominated Janet Yellen to be the next Chair of the Federal Reserve Board the praise he offered was similar to what had already poured in from around the country. In their assessments of Ms. Yellen's long career, Congressman, editors, and academics have underscored how her prescience and caution distinguish her from the reckless overconfidence that have plagued her male colleagues at the Federal Reserve. As proof of her wisdom supporters have pointed to speeches she delivered in 2005 and 2006 in which she supposedly issued clear warnings about the dangers then building in the frothy real estate markets. Without any attempt at reasonable fact checking, these claims have been parroted by the media.

However, a brief review of the speeches in question reveals that she issued no such warnings at that time.

In a new video, Peter Schiff, the CEO of Euro Pacific Capital and a well-known author and economist, goes over the speeches in question and comes to the easy conclusion that the new leader at the Federal Reserve is just as incapable as her predecessors of recognizing a dangerous asset bubble. Worse yet, as a diehard believer in the power of expansive monetary policy, Ms. Yellen would be much less likely to attack an asset bubble even if she were ever to recognize one before it burst.

- Source:

Saturday, October 12, 2013

Yellen Will be the Worst FED Chairman Ever

Janet Yellen, who will likely serve as the next Federal Reserve chairman, would probably be the worst Fed chief in history,
It will be the “same old policies,” under Yellen, now Fed vice chairman, but she’ll be even more dovish than current Fed Chairman Ben Bernanke,“I used to think that Alan Greenspan was the worst Fed chairman we ever had until Bernanke was appointed. He kind of let Greenspan off the hook,” Schiff told Yahoo Finance Yesterday “My guess is that Janet Yellen will return the favor, and Ben Bernanke won’t go down in history as the worst Fed chairman. It’s going to be Janet Yellen.”

She will bow to pressure from liberal Democrats to “keep stimulating the economy through cheap money, even though it doesn’t work,” He added.

“I think she’s going to be leading the Fed in a dangerous direction.”

- Peter Schiff

Wednesday, October 9, 2013

Yellen's Nomination Means Any QE Taper Expectations Are Delusional

Submitted by Peter Schiff via Euro Pacific Capital,

Now that Janet Yellen has been named to lead the Federal Reserve the global financial markets should factor out any possibility that the Fed will diminish their Quantitative easing program anytime during her tenure. In fact, financial forecasts should assume that not only is a taper off the table, but that the QE program is now more likely to be perpetuated and expanded.

Unlike her predecessors, Janet Yellen has never had a youthful dalliance with hawkish monetary ideas. Before taking charge of the Fed both Alan Greenspan, and to a lesser extent Ben Bernanke, had advocated for the benefits of a strong currency and low inflation and had warned of the dangers of overly accommodative policy and unnecessary stimulus. (Both largely abandoned these ideals once they took the reins of power, but their urge to stimulate may have been restrained by a vestigial bias against the excesses of Keynesianism). Janet Yellen, who has been on the liberal/dovish end of the monetary spectrum for her entire professional career, has no such baggage. As a result, we can expect her to never waver in her belief that stimulus is the answer to every economic question.

The Federal Reserve was originally charged with the single mandate of maintaining price stability. In recent decades that mission evolved into a dual mandate of seeking price stability and full employment. I believe that a Yellen led Fed will return once again to a single mandate, but now it will focus only on employment. Based on her clear beliefs in the ability of dovish monetary policy to relive human suffering she will be inclined to dig in her heels into the ongoing QE program more than anyone else President Obama may have appointed. This is terrible news for the U.S. dollar and the U.S. economy.

For now at least the crisis in Washington has squelched any immediate discussion of a taper in the remaining months of 2013. Any predictions that a Yellen-led Fed will somehow show more resolve towards responsibility in 2014 or 2015 should be looked at as delusional.

- Source, Zero Hedge:

Saturday, October 5, 2013

Economic Collapse and Martial Law

Investment broker and financial commentator Peter Schiff joins the show to reveal that the Federal Reserve's monetary expansion program, called Quantitative Easing, is destroying the middle class and pushing the American economy towards a cliff under the illusion of an economic recovery.

- Source, InfoWars:

Thursday, October 3, 2013

Comparing Obamacare to the iPhone is not Apples to Apples

Peter Schiff discusses the ongoing disaster that is Obamacare. He discusses how Obama is reacting to these problems.

- Source, Peter Schiff Show: