Personal Finance: Keep Little Cash

If you are a 30 year old guy, I would not have any more than 6 months to a year`s worth of expenses in cash. I would make sure I had a little cash to cover my rent or my mortgage, if you have a mortgage but I would keep very little in the way of cash because it`s going to lose value.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

What Would Be A Bearish Case For Gold

If the Federal Reserve actually did the right thing, for a change, which I do not think it`s going to happen, if they stopped the QE, if they started to unwind their balance sheet, if they started to raise interest rates and let the stock market tank, let the real estate market go down, let the natural recession run its course, force the U.S. government to dramatically cut spending and restore fiscal balance for the U.S. economy to allow a legitimate recovery to ever take place, then I would get bearish on gold.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

China: Largest Producer Of Gold

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Gold Is Going A Lot Higher Than 1900 Dollars An Ounce

Gold is going a lot higher than 1900 dollars an ounce. That was just the most recent high. But this bull market has been going on for a long time and it has got a long way to run thanks to the policies that we are persuing here in the United States. Now that we have Janet Yellen as the Federal Reserve Chairman, I think she will be even more bullish for gold than Bernanke and Greenspan.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Market Outlook: U.S. Economy, Federal Reserve & Gold

Related ETFs: SPDR Gold Trust ETF (GLD), Market Vectors Gold Miners ETF (GDX)

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

U.S. Economy: Outlook For 2014

If the Federal Reserve continues with its taper timetable we will be back in recession. Now, I don`t believe they will continue, I think they will come back with more stimulus which might technically and statistically keep the economy out of a recession. But in reality, I think we are in a depression. I don`t think the U.S. Economy is growing at all.  

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

The Real Unemployment Picture

The official unemployment figures are meaningless because there would not be such a big concern if the unemployment rate was really 6.7 percent. Because that does not tell the whole story. So many people have just given up looking for work, they are so discouraged by the poor labor prospects that they are no longer being captured by the statistics or they are working part-time but they really want full-time jobs.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Bad Economic Data Coming To The Surface

The reason interest rates have fallen somewhat on the long bond over the past few months is because a lot of bad economic data has now come to the surface. I was expecting all of this bad data because I was saying for months and months as the Federal Reserve first began talking about tapering, that if they actually did it, they would have to undo it because the minute they tapered the market would start to go down (stock market and real estate market), the economy would start slipping back into recession and the Federal Reserve would be forced to have to reverse their position which is what they are going to do.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Interest Rates Will Skyrocket After The U.S. Dollar Collapses

When I talk about interest rates skyrocketing, that is what is going to happen after the dollar collapses. But before the dollar collapses, the Federal Reserve is going to print dollars to buy bonds to prevent interest rates from rising.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

We Have The Biggest Bubble Ever

We have the biggest bubble ever blown right now because we have a simultaneous bubble in the stock market , in the real estate market and in the bond market. We have the stock market bubble of the 1990`s, the real estate bubble of the 2000`s and at the bond bubble on top of it. The Federal Reserve knows the bubble is too big to pop.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Gold Short-Sellers Are Getting Nervous

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Yellen: Waiting For An Excuse To Call Off The Taper

In her prepared testimony she did stress her commitment to continue to follow through with the taper timetable that was established by Ben Bernanke. Of course, she did qualify that by repeating that it is data dependent, meaning that if the data changes, the Federal Reserve will change as well. I think the Federal Reserve knows the data is going to change, they are just waiting for the excuse to do what they are intending anyway which is to call off the taper and ultimately reverse it by increasing the amount of monthly QE, not diminishing it.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Gold: Most Selling Is Coming From The Short-Sellers

In my estimate, the main selling in the gold market is coming from the short-sellers who are selling gold they do not even own. I believe most of the speculative longs have long since left the market, they were flushed out in the second half of 2013. I think all you have now is short-sellers and ultimately they are going to be forced to buy back that gold, I believe, at much higher prices.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Gold Is Leading The Way But Wall Street Is Still Skeptical

The gold market is actually leading the way. In fact, thus far in 2014 gold prices are up around 7 percent while the stock market is lower.We are off the lows of the year but still in negative territory.

While gold is up 7 percent, gold stocks are up around 20 percent. But Wall Street is still extremely skeptical of the gold rally. Everybody expects that this rally is a head-fake, that is going to reverse and that gold is still headed much lower for 2014.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Wall Street Is Fixated On This Story

This is all wishful thinking. This is all living in a delusion. Wall Street continues to be fixated on this story of a robust economic recovery that just does not exist.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Video: Market Update (U.S. Economy, Janet Yellen and Gold)

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Video: Taper Will Not Be Continued As "Planned"

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Rally In Bonds: False Safe Haven Bid

The rally in bonds is only because of the false safe haven bid that the bonds are getting because of all the problems, just the beginning of the taper is causing. But I am not basing my idea that the taper isn`t working on the recent sell-off in the market. I knew this sell-off was coming, that is why I said, when the Federal Reserve starts to taper, the markets are going down. As the Federal Reserve tapers more, the markets are going to be under even more pressure. And imagine how much pressure they would be under if the Federal Reserve actually tried to sell the 4-plus trillion in Treasuries and mortgages that are currently on its balance sheet.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Video: Stock Market, Treasury Bonds & Gold Outlook

Related assets and ETFs: US 10-Year Treasuries,  SPDR S&P 500 Index ETF (SPY), SPDR Gold Trust ETF (GLD)

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

When The Market Realizes There is No Exit Strategy

The whole recovery theory that the Federal Reserve is basing the taper on is the wealth effect from rising asset prices. But we can`t have rising asset prices without even more support from the Federal Reserve. So, when the market realizes this, that there is no exit strategy, that it is cheap money forever, then it is going to be more than 85 billion a month of QE. Then you are going to start to see a huge increase in the price of gold as you get tremendous downward pressure on the U.S. dollar.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

The Trend In The Market Is Down

The market isn`t going to rebound in a meaningful way. We could get a rally but the trend in the market is going to be down until the Federal Reserve comes out and reverses its taper talk because the markets need ever increasing quantities of cheap money.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Gold: Good Things To Come For The Balance Of 2014

I don`t know where it`s going to be at the end of the year. My guess is that is going to be higher, I think it could be much higher. I think that the outperforming of gold in January can accelarate through the end of the year. I don`t think January is necessarily a head fake, I think it could be a good harbinger for things to come for the balance of 2014.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Video: Gold Market Outlook

Related stocks and ETFs: Newmont Mining (NEM), Barrick Gold (ABX),  Goldcorp (GG), Market Vectors Gold Miners ETF (GDX), SPDR Gold Trust ETF (GLD)

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

The Markets Will Be In A Downtrend Until The Fed Gives In

That is why the markets are going down now, they are starting to discount the removal of the QE and I think the markets will be in a downtrend until the Federal Reserve gives in and gives the market another fix. That is what the market needs to sustain the excess valuations. That is what we need to maintain the illusion of a recovery and that is what the Federal Reserve is going to deliver.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Video: Why The Markets Are Going Down

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

U.S. Economy: The Recovery is Just An Illusion

I don`t think the economy is actually doing well, that is the problem. It`s just an illusion, it`s the stock market going up, it`s the real estate market going up, it makes people think the economy is doing well but it`s actually doing lousy because the monetary policy that is needed to prop up these bubbles is preventing the kind of restructuring that we need in this economy to actually produce legitimate economic growth and good jobs. That is why when you actually poll the public and ask the people how they feel, to them it feels like a recession.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

The Markets Are Going To Continue To Decline

Right now the markets are going to continue to decline as long as the fed stays on this taper timeline. And I think the Fed is going to be connaissance of that. If you remember, they are basing the taper on the recovery which is the result of the wealth effect of a rising stock market and a rising real estate market. That allows us to lever up and borrow more money to buy more stuff that we can`t afford. But as these bubbles deflate, because the Fed is threatening to remove the props, now all of a sudden the recovery disappears, we are heading right back into recession and the only way to stop the markets from falling and reverse the illusion of a recovery is to do more QE and that is what the Fed is going to do, unfortunately.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Video: Investing, Real Returns

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.