Gold: We Will Have A Bull Run Next Year

I think we will have a big bull run next year. I think next year gold will finish the year strong as opposed to having this Trump related sell-off. (SPDR Gold Trust ETF (GLD), Market Vectors Gold Miners ETF (GDX), Market Vectors Junior Gold Miners ETF (GDXJ), Newmont Mining (NEM), Barrick Gold (ABX), Goldcorp (GG), NovaGold (NG))

We Cannot Stop The Bubble From Popping Nor Should We Try

People are ignoring that the things they think are going to happen are impossible: "Now we are going to get fiscal stimulus, we do not need monetary stimulus." If we get the fiscal stimulus we will need the monetary stimulus more than ever to make it possible. There is no way to finance these deficits unless the Federal Reserve steps up and does it.

Of course, this is a mistake, they should not do it and that is why we are in so much trouble. But I do not think there is any way Trump can fix these problems. They are unfixable! We cannot stop the bubble from popping nor should we try.

The New Year May Start With A Sell-Off

The stock market may start the New Year with a major sell-off, just like this year. What I would do if I was sitting on a bunch of profits , I would maybe sell some S&P futures right now to lock in these prices in case there is a rush to get out in January. (SPDR S&P 500 Index ETF (SPY), Nasdaq 100 Index ETF (QQQ), iShares Russell 2000 Index ETF (IWM), SPDR Dow Jones Industrial Average ETF (DIA))

As Interest Rates Go Up, That Automatically Brings Stock Values Down

As interest rates go up, that automatically brings stock values down.

But I think it is also interesting that the same stock traders that were so worried about what would happen to the stock market if Donald Trump won, the minute he won they just started buying. All they wanted to do was to justify a move up.

People are ignoring that the things they think are going to happen are impossible. (Select Sector Financial Select Sector SPDR ETF (XLF), SPDR S&P 500 Index ETF (SPY), SPDR Dow Jones Industrial Average ETF (DIA), iShares Russell 2000 Index ETF (IWM), Nasdaq 100 Index ETF (QQQ))

The Bond Market Bubble Has Already Bursted

The bond market bubble has already bursted. Interest rates are rising and that is going to compound the problems for an already weakening economy. (iShares Barclays 20+ Year Treasury Bond ETF (TLT), SPDR S&P 500 Index ETF (SPY), SPDR Dow Jones Industrial Average ETF (DIA), Nasdaq 100 Index ETF (QQQ), iShares Russell 2000 Index ETF (IWM))

The Stock Market is Overvalued

The stock market is already overvalued. Its a bubble! And just because we are going to have some tax cuts and regulatory relief, that does not undo that bubble! (SPDR S&P 500 Index ETF (SPY), SPDR Dow Jones Industrial Average ETF (DIA), iShares Russell 2000 Index ETF (IWM), Nasdaq 100 Index ETF (QQQ), Select Sector Financial Select Sector SPDR ETF (XLF))

Gold Will Rally in 2017

We are going to get more inflation but it is not a negative for gold, it is a positive for gold. And the markets were wrong about gold at the end of last year, they sold it off when the Fed raised interest rates,, gold bottomed out in January and then had a huge run. We are going to have another big run next year but next year gold is going to finish the year strong. (SPDR Gold Trust ETF (GLD), Market Vectors Gold Miners ETF (GDX), Market Vectors Junior Gold Miners ETF (GDXJ), Newmont Mining (NEM), Barrick Gold (ABX), Goldcorp (GG), NovaGold (NG))

Gold: Inflation Will Rise Much Faster Than Interest Rates

I like to see that negativity out there. Gold has gone down quite a bit since the election but if you go back over the last 15 years, gold had a pretty good track record.

It is interesting that the reason that so many people have turned bearish on gold is because they believe there will be more inflation under Donald Trump, that we are going to have larger deficits as a result of the tax cuts, increased government spending and because of the higher inflation, the Federal Reserve is going to get more aggressive and raise interest rates and somehow that increase in interest rates is going to be bad for gold. It is ridiculous! Higher inflation is good for gold!

Inflation will rise much faster than interest rates, so real interest rates are going to fall and that is when gold shines brightest. (Newmont Mining (NEM), Eldorado Gold Corp (USA)(NYSE:EGO), Goldcorp (GG), Market Vectors Gold Miners ETF (GDX), Market Vectors Junior Gold Miners ETF (GDXJ), SPDR Gold Trust ETF (GLD), Barrick Gold (ABX)

Will Donald Trump Produce Any Economic Growth?

The Federal Reserve does not seem to believe that Donald Trump is going to do anything to produce economic growth because they were more optimistic last year when they knew that Obama was going to be the President than they are now, knowing that it is going to be Donald Trump.

The Housing Market Has Been Propped Up By The Fed, Not Ready To Stand Alone

Both the housing market and the auto market have been propped up by the Federal Reserve’s cheap money and artificially low interest rates. These markets may not be ready to stand alone. (Ford (F), General Motors (GM), Tesla Motors (TSLA), iShares Dow Jones US Real Estate (ETF) (IYR), Lennar Corporation (LEN), KB Home (KBH))

Markets: If Interest Rates Go Up, The Bubble Pricks

We have a bubble economy. If interest rates go up, the bubble pricks. If you move interest rates higher, by definition, stocks and real estate are less valuable. They are more valuable the lower the rate. If interest rates go up, their values come down, multiples have to go down. (SPDR S&P 500 Index ETF (SPY), SPDR Dow Jones Industrial Average ETF (DIA), Nasdaq 100 Index ETF (QQQ), iShares Russell 2000 Index ETF (IWM), iShares Barclays 20+ Year Treasury Bond ETF (TLT), iShares Dow Jones US Real Estate (ETF) (IYR))

Stock Market: The Trump Rally

This honeymoon is going on, and everybody thinks this is great and the narrative is feeding on itself but people are ignoring the big rise in interest rates and assuming none of it matters. All of a sudden higher rates do not matter because we are going to get all this extra growth from the tax cuts and from the government stimulus. Well, the rarity is if interest rates rise it does not matter about the stimulus, the sedative that will result from higher rates will more than offset it, plus the markets are assuming that higher interest rates will have no effect on U.S. asset prices or the economy. They are wrong on both those counts.

Rising Oil Prices & Interest Rates Will Negatively Impact Stock Prices

Crude oil prices and long term interest rates are continuing to surge, yet stock market traders and investors are completely ignoring what this will mean for corporate earnings and stock valuations. (SPDR S&P 500 Index ETF (SPY), iShares Russell 2000 Index ETF (IWM), SPDR Dow Jones Industrial Average ETF (DIA), Nasdaq 100 Index ETF (QQQ))

U.S. Dollar: The Bearish Case

Right now everybody is talking about how the Federal Reserve is going to tighten, how they will be raising interest rates and they have not connected the dots that all of this is impossible with what Donald Trump and the new secretary of the Treasury are proposing to do. None of this can happen against the backdrop of rising interest rates, it is impossible! It can only happen if the Federal Reserve prevents interest rates from rising by stepping into the market with massive rounds of Quantitative Easing (QE). If people understood that, the Dollar would be falling and not rising.

Commodity Prices Are Going To Rise

I think that you are going to see a move up in commodities because of increased inflationary pressures brought by central banks all around the world. There will be a lot more inflation and commodity prices are going to rise substantially as paper currencies lose value. (Nymex Crude Oil Futures, United States Oil Fund LP ETF (USO), SPDR Gold Trust ETF (GLD), Market Vectors Gold Miners ETF (GDX), Market Vectors Junior Gold Miners ETF (GDXJ), Nymex Copper Futures, iShares Silver ETF (SLV))

If Mortgage Rates Keep Rising Real Estate Prices Will Drop 20 to 30%

Mortgage rates can certainly keep rising. I would not be surprised to see the rate north of 5 percent by the time of Trump`s inauguration and maybe we can be at 6 percent or more early next year. I think we will have a 20 to 30 percent decline in real estate prices if mortgage rates are at 6 percent and what is that going to do to the banks? (Bank of America (BAC), Goldman Sachs (GS), J.P. Morgan (JPM), citigroup (C), Wells Fargo (WFC), Deutsche Bank AG (USA)(NYSE:DB))

Bond Market: The Beginning Of A Huge Collapse

Just look at what happened to the long end of the curve after the election. This can be the beginning of a huge collapse in the bond market. (iShares Barclays 20+ Year Treasury Bond ETF (TLT), U.S. Treasuries, iShares iBoxx $ High Yid Corp Bond ETF (HYG))

Investors Should Be Selling The U.S. Dollar, Not Buying

People who are buying U.S. Dollars are doing the wrong thing, they should be doing the reverse. The U.S. Dollar is making 13 or 14 year highs, it is more than a decade high. I think the U.S. Dollar is in very dangerous territory up here. A lot of speculators maybe are being caught, maybe they are being stopped out of their trades, because again, more inflation is not good for the U.S. Dollar, the dollar will lose purchasing power.

The Bearish Gold Narrative Is False

What people are saying is that because we are going to have a higher inflation, the Federal Reserve is going to have to raise interest rates to fight that higher inflation and those higher interest rates will be bullish for the U.S. Dollar and a strong dollar is going to hurt gold prices. But even if we do get one or two interest rate hikes over the next several years, that will not be sufficient to restrain the inflationary forces that will be building in the economy.

So even if interest rates go up slightly, inflation will go up much more and so real interest rates in an inflationary environment will be falling and not rising and that is very negative for the U.S. Dollar and it is extremely positive for gold. (Barrick Gold (ABX), Market Vectors Gold Miners ETF (GDX), Market Vectors Junior Gold Miners ETF (GDXJ), SPDR Gold Trust ETF (GLD), Newmont Mining (NEM), Goldcorp (GG), NovaGold (NG))

Higher Inflation Is Bullish For Gold

The idea that higher inflation is somehow a negative for gold is completely wrong. I do agree that the markets are correct in that inflation will be increasing, especially given the stimulus that a Republican Congress and President Trump may in fact deliver. But that is a good thing for gold, not a bad thing for gold. (SPDR Gold Trust ETF (GLD), Market Vectors Gold Miners ETF (GDX), Market Vectors Junior Gold Miners ETF (GDXJ), Newmont Mining (NEM), Barrick Gold (ABX), Goldcorp (GG))

For How Long Can The Market Be Oblivious To Higher Rates?

For how long can the stock market be oblivious to higher interest rates? Because not only do higher interest rates dramatically slow the economy, they crush the housing market, but stocks themselves, you value stocks based on interest rates. You discount earnings based on interest rates.

Even if the earnings go up a little bit, you have to discount them by a higher amount and the PEs (price to earnings ratio) are already very high and the justification for the high PEs was not the growth rate, it was the discount rate. (SPDR Dow Jones Industrial Average ETF (DIA), SPDR S&P 500 Index ETF (SPY), Nasdaq 100 Index ETF (QQQ))

The Catalyst For The Next Economic Recession

The same people that believed that there was a real economic recovery now believe it is going to get even better. Why? In fact, this so called recovery is so old that we are overdue for a recession and why would not this big increase in interest rates be the catalyst to cause it?

Bond Market: Serious Technical Damage Has Been Done

Everybody is ignoring the monetary drag that is already evident from the bloodbath in the bond market and this is going to continue.

In fact if you look at the trend lines, we have broken some serious trend lines now which were down in yield and up in bond prices that have been in existence since 2007. So we have done some serious technical damage in the bond market. (10- year U.S. Treasuries, 30-year U.S. Government Bonds, iShares Barclays 20+ Year Treasury Bond ETF (TLT))

The Stock Market Is Getting It Wrong

Regardless of a December interest rate hike, the Federal Reserve is soon going to be reversing course and cutting interest rates and doing another round of quantitative easing (QE). In fact, long term interest rates are already spiking up on the potential that Yellen might raise interest rates and that is going to be enough to really prick the bubble in the housing market.

So far the stock market is remaining oblivious to the spike in bond yields because I think they believe the stimulus that might result from the tax cuts and spending increases will be enough to offset the drag of higher interest rates and I think they are very mistaken. There is no way to counteract the damage to this bubble that will result from a spike in long term interest rates.

This Can Be A Blowoff Top In The U.S. Dollar

This can really be a blowoff top in the Dollar Index, trading now at new 14-year highs. The Dollar Index is now above 100 as everybody is so sure that the Federal Reserve is going to be tightening. (SPDR Gold Trust ETF (GLD), EURUSD forex cross)

Newly Negotiated Trade Deals & Infrastructure Investment May Be Bullish For Silver

The renegotiated trade deals and the infrastructure investments planned under a Trump Administration may prove bullish for future silver prices. (iShares Silver ETF (SLV))

The Beginning Of An Explosive Move Up In Interest Rates

It is not just the fact that bond yields are rising but the rapidity of the move and the technical damage that`s being done. This could be the beginning of an explosive move up in interest rates and right now no one seems to care. (SPDR S&P 500 Index ETF (SPY), Nasdaq 100 Index ETF (QQQ), iShares Russell 2000 Index ETF (IWM), iShares Barclays 20+ Year Treasury Bond ETF (TLT), SPDR Barclays Capital High Yield Bnd ETF (JNK))

The Stock Market Bubble Needs To Deflate

There is no way we can have the economic growth that everyone is so excited about until we deflate the stock market bubble and Trump talked about a stock market bubble when he run for Office.

This Is A Gigantic Bond Bubble

This is a gigantic bond bubble that has been inflating for decades and we do not get a free pass because we have Trump. Our economy is so screwed up, the imbalances are so enormous of decades of bad policy that we just cannot elect Donald Trump and now everything magically goes away! (10- Year U.S. Treasuries, iShares Barclays 20+ Year Treasury Bond ETF (TLT) )

The 30-Year U.S. Government Bonds Will Collapse

Donald Trump has already said that we wants to take advantage of these low interest rates, finance deficits with 30 year bonds. So if he is going to be selling all these 30-year bonds, bond prices are already falling now in anticipation of this massive supply. The Federal Reserve is not buying them, there is no more QE in place. The emerging market currencies are being slaughtered, they are not going to be buying dollars, they are starting to sell U.S. Dollars, they are going to need to sell their Treasuries.

So, if you have emerging markets central banks trying to unload Treasuries from their reserves, the Federal Reserve is not buying any and at the same time the U.S. Government trying to sell massive quantities of long term Treasuries, how can the price of those bonds not collapse?

The Bond Bubble Is Deflating

The bond market had its worse week since 2013 and it looks like a lot more carnage can come if we really break down. Yields are still low. The yield on the 10-Year Treasuries is just above 2.10 percent and the yield on the 30-Year is now above 2.90 percent. These are still low yields but they are not nearly as low as they were a while back. But what is more important is the momentum in this move and how much higher interest rates would potentially go as this bond bubble deflates.

Stock Market, Gold & Bonds

The Dow Jones Industrials Average (DJIA) was up almost 1,000 points last week. The gold market was down 70 dollars on the week, a percentage decline of 7 percent or so. Silver was also down about 5 percent. Gold and silver stocks were down close to 20 percent.

The stock market had its best week since 2011 and the bond market had its worse week since 2013 and it looks like a lot more carnage can come if we really start to break down.

U.S. Economy: What Trump Is Planning To Do Is Impossible

Back in 1980, America was still the World's largest creditor nation so our bonds seemed like a good risk and they were paying a very high rate of interest to the people willing to loan us the money. Fast forward to 2016, if Donald Trump thinks he can pull a Ronald Reagan, if he thinks he can cut taxes and increase government spending and somehow finance that...that is impossible! And the bond market is just starting to show that. (iShares Barclays 20+ Year Treasury Bond ETF (TLT))

Bond Market: Explosive Move In Yields In Reaction To Trump

We had an explosive move in yields. Some people are saying, well maybe this is just the bond market reacting to the possibility of higher growth. No! This is the bond market reacting to the possibility of much bigger deficits, huge supply. What Donald Trump is promising to do is going to explode an already enormous budget deficit. (10- year U.S. Treasuries, iShares Barclays 20+ Year Treasury Bond ETF (TLT), 30-year U.S. Government Bonds)

Trump: The Bond Market Is Giving A Flashing Warning Signal

Donald Trump is intending to increase government spending in infrastructure to create jobs, on national defense to keep us safe, on taking care of the veterans, to build a wall...He is talking about massive increases in spending and at the same time he is talking about substantial cuts in taxes. He wants to cut the corporate tax rate, he wants to cut the individual tax rate. This is something we have not seen since Reagan. Donald Trump is going to run into a brick wall that did not exist at the time of Reagan and the bond market is really giving a big flashing warning signal.

The Only Way Central Banks Could Hurt Gold Prices

The only way to really hurt gold would be for Central Banks to become aggressive inflation fighters, to really get in front of the curve, to raise interest rates substantially. I do not see any of that happening! (SPDR Gold Trust ETF (GLD), Market Vectors Gold Miners ETF (GDX))

Gold: A Down Payment On Much Larger Returns

I think this recent gold (SPDR Gold Trust ETF (GLD)) correction is just a down payment on much larger returns. When the year began everybody was bearish on gold because everybody expected the federal reserve to hike interest rates, not just hike once but begin the much hyped and anticipated normalization process. Because interest rates have been at zero for many, many years and the Federal reserve was beginning to normalize interest rates. What I said at the time was, (A) I did not believe it, even if the Federal Reserve raised interest rates it would not matter because they would never deliver the number of interest rate hikes that were anticipated by the markets.

Why Does Wall Street Prefer Hillary Clinton?

Why does Wall Street want Hillary Clinton? Because Hillary Clinton continues the status quo that everyone on Wall Street likes. (Goldman Sachs (GS), Morgan Stanley (MS), J.P. Morgan (JPM), Bank of America (BAC), Citigroup (C))

The Stock Market Prefers Hillary

It is no secret that the markets want Hillary Clinton to be elected. (SPDR S&P 500 Index ETF (SPY), iShares Russell 2000 Index ETF (IWM), SPDR Dow Jones Industrial Average ETF (DIA), Nasdaq 100 Index ETF (QQQ))

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

A Very Suspicious GDP Number

I am very suspicious of this recent GDP number. It is the strongest number in over 2 years and it comes out less than 2 weeks before the election. Of course one of the issues Dnalpd Trump had has been the weak GDP growth which has averaged just 1 percent over the last 3 quarters. All of a sudden its 2.9 percent?

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

Why Is Consumer Confidence Dropping

I don`t think it is an accident that consumer confidence is dropping at the same time that Trump`s poll numbers are dropping because I think there was a lot of hope and optimism on the part of Trump voters.

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

Even A Tiny Rate Hike Will Damage This Bubble Economy

I believe that this bubble is so big, we have so much debt, that even these tiny interest rate hikes are doing damage to this bubble economy.

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, U.S. Dollar & Interest Rates

Even if the currency traders are worried about a December interest rate hike to the extent that they think it is negative to foreign currencies, gold traders do not seem to care about how an interest rate hike might impact the price of gold because the price of gold (SPDR Gold Trust ETF (NYSE:GLD)) is rising even as the probability of a December interest rate hike is rising.

Which says either gold traders do not believe those numbers and they feel that a December interest rate hike is not coming or they correctly concluded that even if the Federal Reserve does raise interest rates in December its no big deal. Its too little to late to be a negative for the gold market because the Federal Reserve is going to deliver far less than it promised when it comes to interest rate hikes. 

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: Indian Farmers Are Buying More Gold

In India a healthy monsoon season is creating a renewed interest in gold by indian farmers. (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.

The Economic Data Indicates An Incoming Recession

The economic data indicates an incoming recession. The number of multiple jobholders reached the highest number since the 2008 financial crisis. (Select Sector Financial Select Sector SPDR ETF (XLF), SPDR Barclays Capital High Yield Bnd ETF (JNK), SPDR Dow Jones Industrial Average ETF (DIA), SPDR S&P 500 Index ETF (SPY), Nasdaq 100 Index ETF (QQQ))

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 Need To Shrink The Government

The U.S. was great because government was small. But now government is great, and the United States will not be great again until we shrink the government.

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

More Money Will Move Into Gold

As the potential for an interest rate hike is diminishing the appeal of Gold (SPDR Gold Trust ETF (NYSE:GLD)) is improving. Gold prices (SPDR Gold Trust ETF (NYSE:GLD)) are now back above 1260. We had a couple of back to back strong days in the gold sector (Market Vectors Gold Miners ETF (GDX)) and maybe this most recent correction of the upward trend which the catalyst for it was the renewed expectation of a November and December interest rate hike, I think as those expectations are reallistically dialed back we are going to see more money moving into the metals (SPDR Gold Trust ETF (GLD), iShares Silver ETF (SLV))

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

If The Fed Raises Interest Rates Everything Is Going To Collapse

I do not believe that if we raise interest rates everything is going to be fine. I recognize that if we raise interest rates everything is going to collapse. (SPDR S&P 500 Index ETF (SPY), iShares Russell 2000 Index ETF (IWM), SPDR Dow Jones Industrial Average ETF (DIA))

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

Bond Yields Are Moving Up

Another week when the Dollar remained relatively firmly bid, the Dollar Index closed just above 98. Gold is not really going down but its not really going up either. What is going up are bond yields, long-term bond yields just made a 4-month high with the 30-year yield at 2.55% and the 10-year Treasury yield just below 1.80% and this despite the fact that the economic news during the week, on balance, were generally weaker than expected.  (SPDR Barclays Capital High Yield Bnd ETF (JNK), iShares Barclays 20+ Year Treasury Bond ETF (TLT), U.S. Treasuries, iShares iBoxx $ High Yid Corp Bond ETF (HYG))

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 Only Thing That Is Bad For Gold

The only thing that is bad for gold is if Janet Yellen goes Paul Volcker and really decides to jack interest rates up so that real interest interest rates spike up. That would be negative for gold. Just a quarter point interest rate hike? The inflation is going to be rising faster than any Fed rate hikes. The Federal Reserve is going to be behind the curve the entire time. (SPDR Gold Trust ETF (GLD), Market Vectors Junior Gold Miners ETF (GDXJ), Market Vectors Gold Miners ETF (GDX), Newmont Mining (NEM), Barrick Gold (ABX), Goldcorp (GG), NovaGold (NG), Hecla Mining (NL))

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: This Sell-Off Is A Buying Opportunity

I think this is a great buying opportunity. I think this sell-off in Gold is way overdue , in Silver as well. (SPDR Gold Trust ETF (GLD), iShares Silver ETF (SLV), 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. Election: Trump Won The Debate

Anybody that has objectively watched this debate is going to conclude that Trump won. I was pretty critic of Trump`s performance in the first debate and while I do not think this one was perfect, there were a couple of things I would have liked him today, I think he did about as good as a job he could have done. I think he has advanced his standings on this debate.

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: The False Narrative

People are still wedded to this narrative that the Federal Reserve is going to raise interest rates. Why?

Related Exchange Traded Funds: SPDR Gold Trust ETF (GLD), Market Vectors Gold Miners ETF (GDX), Market Vectors Junior Gold Miners ETF (GDXJ)

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

Forex: British Pound Flash Crash, U.S. Dollar Risks

One of these days that is going to happen to the U.S. Dollar, and it is not a flash crash, it is going to be a real crash. But it shows you that major currencies can make big moves.

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

Markets: Gold, Economic Recovery & Fed Policy

I have been a buyer of Gold for a while and it is not because of uncertainty, it is because of things that I certain of. I am certain all this talk about a recovery is wrong. The recovery is an illusion, it is just a gigantic bubble. That is a thing that Donald Trump got right. This is a bubble and the Federal Reserve is scared of letting it pop, they are doing everything they can to keep blowing air into 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.

The Bond Market Is Going To Blow Up

Eventually the bond market is going to blow up and the Federal Reserve is going to lose control of the long end because pretty soon the bond market is going to figure out that weak economic news is bad for bonds because it means more money printing, more inflation and that is the real enemy of the bond market, the debasement of the currency, the loss of purchasing power and that bond bubble is going to burst. But I think the U.S. Dollar bubble will burst first and take the bond bubble down with 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.

Federal Reserve: Their Game Plan Is To Lower Rates Again

I think the Federal Reserve is going to do everything it can to keep interest rates artificially low. It has to start by pretending that it can raise interest rates but their game plan is to lower them again.

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

Higher Rates Will Be A Disaster For The Banks

Banks are trading up today because traders believe that higher interest rates are going to be good for the banks. They will not. They will be a disaster for the banks.  (Bank of America (BAC), citigroup (C), Wells Fargo (WFC), Goldman Sachs (GS), Select Sector Financial Select Sector SPDR ETF (XLF))

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

Why Gold Went Down 40 Dollars In One Day

Apparently people still think the Federal Reserve is serious about raising interest rates because you had Jeffrey Lacker coming out this morning and saying that the Federal Reserve needs to be preemptive when it comes to inflation fighting, not really wanting for it to heat up. This is really absurd because if the Federal Reserve wanted to be preemptive it would have raised years ago and they would now be much higher than they are.

Again, I think this is all talk. But apparently the markets have not figures this out yet and gold went down 40 dollars because it thinks the Federal Reserve is about to raise interest rates. (SPDR Gold Trust ETF (GLD), Market Vectors Gold Miners ETF (GDX), Market Vectors Junior Gold Miners ETF (GDXJ), Newmont Mining (NEM), Goldcorp (GG), Barrick Gold (ABX))

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

Federal Reserve: Alleged Case For An Interest Rate Hike Is Fading Fast

The Atlanta Federal Reserve has just lowered its third quarter Gross Domestic Product (GDP) estimate to just 2.2 percent. That is down from an estimate of 3.8 percent a month ago. This means that the Federal Reserve alleged case for an interest rate hike is fading fast!

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

2017: Certainly A Recession Year

2017 should certainly be a recession year officially. Again, I still think that after the election we could get some official downward revisions to prior GDP numbers that would officially date the beginning of this recession to sometime in 2016 but the last thing the Government wants to do is to acknowledge that fact before the election.

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 U.S Economy Is Getting Weaker And Weaker

We are already decelerating, we are already going downhill. We have already passed the peak of economic expansion. We are contracting and we are either nearing recession or already in one. But the longer we go in time the weaker the economy is going to get.

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: Inflation & Economic Growth

Inflation does not cause economic growth and economic growth does not cause inflation. Governments cause inflation by creating money and economic growth comes from savings and investing. And how do you get savings and investment? You have sound money, low inflation, you have few regulations, you have low taxes, you have limited government. That is what grows an economy.

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 Reason Why The Fed Is Not Raising Interest Rates

This is in fact a economic recession wether or not anybody wants to acknowledge it. That is why the Federal Reserve is not raising interest rates.

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 The Federal Reserve Is Really Doing

Everybody still thinks that this is serious. They still don`t get what is actually going on that the Federal Reserve is not going to raise interest rates but they cannot admit that so they keep pretending.

By the time December rolls around the probability of a December hike will be way down and of course the probability of a March hike will be much higher because every time the Fed does not raise rates the markets believe a rate hike is coming. Why? Because the federal Reserve keeps talking about the possibility of raising interest rates but never actually doing 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.

Fed Meeting: A Dollar Negative Event

I think this is a dollar negative event. I think this is a gold friendly event. remember the last time the Federal reserve raised interest rates everybody thought the gold would tank and instead it market the bottom and had a huge rally. People thought the Dollar would rise and it went the other way.

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

Federal Reserve: Why Would They Want To Take A Chance Of Raising Interest Rates Today?

Why would they want to take a chance of raising interest rates today knowing, (A) how weak the data is, (B) knowing that the markets could tank as a result of that rate hike. That is the last thing they want. Then what are they going to do? How are they going to reverse the decline?

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 Dollar Will Take The Bond Bubble With It

Eventually when the U.S. Dollar bubble bursts it is going to take the bond market with it and this bubble economy is going to implode. Then the economic events of 2008 will look like a Sunday school picnic.

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 Federal Reserve May Start Buying Corporate Bonds And Stocks Next

We are going to get negative interest rates, we are going to get quantitative easing and the Fed will not only be buying bonds and mortgage backed securities, they will start buying corporate bonds, they might buy municipal bonds, they even might buy stocks.  What knows what they are going to monetize.

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 Will Get Negative Interest Rates And More QE

What caused the big rally in the U.S. Dollar was the belief that the QE and zero percent interest rates were successful that the Federal Reserve was going to end the program and it was the anticipation of the tightening, of the normalization of interest rates, of the shrinking of the Fed`s balance sheet, that was what built the rally in the U.S. Dollar. But that was false.

As people figure out that they cannot normalize interest rates, they cannot shrink the balance sheet. In fact their balance sheet is going to grow again and not only are they not going to normalize interest rates, they are going to bring them back to zero. In fact this time zero is not going to be low enough. They will go negative. We will get negative interest rates and QE.

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

Markets: No Matter What Happens We Are Pretty Much Screwed

Its a problem if the Federal Reserve raises interest rates but they also acknowledged that it is a bigger problem if the Federal Reserve does not raise interest rates. If they raise interest rates they prick the bubble, if they don`t raise interest rates the bubble gets bigger and eventually it pops. So no matter what happens we are pretty much screwed.

(Select Sector Financial Select Sector SPDR ETF (XLF), SPDR Barclays Capital High Yield Bnd ETF (JNK), SPDR Gold Trust ETF (GLD), SPDR S&P 500 Index ETF (SPY), iShares Russell 2000 Index ETF (IWM))

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

Hedge Fund Managers Criticize The Federal Reserve

There was this conference in New York this week, the Delivering Alpha conference and there was a lot of coverage in the press because a lot of high profile hedge fund billionaires were speaking very negatively about the Federal Reserve.

What they were saying was that the Fe`s policy of zero percent interest rates and quantitative easing have been a failure, that they had not delivered the economic growth that was promised, that actually they undermined economic growth and undermined capital investment and as a result of what the Fed has done the economy has grown less than it would have had they not done 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.

All It Takes To Collapse The Markets

Just the mere possibility of a minuscule interest rate hike (0.25%) is all it takes to collapse this stock market. (SPDR S&P 500 Index ETF (SPY), iShares Russell 2000 Index ETF (IWM), SPDR Dow Jones Industrial Average ETF (DIA), Nasdaq 100 Index ETF (QQQ), Nasdaq 100 Futures)

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

Fed: U-Turn On A Rate Hike Possibility

Clearly the 400 point decline in the Dow Jones Industrials Index on Friday showed that the market was not really very friendly to the possibility of an interest rate hike, let alone the certainty of one. Just the mere possibility however remote that possibility may be spooked the markets. So the Federal Reserve on Monday had the chance to dial it back. they had three Fed Presidents speaking on Monday and none talked about the possibility of a rate hike. (SPDR Dow Jones Industrial Average ETF (DIA), SPDR Gold Trust ETF (GLD), SPDR S&P 500 Index ETF (SPY), iShares Russell 2000 Index ETF (IWM))

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

Central Banks Are Scaring The Markets

It is not just the Federal Reserve because Draghi in the press conference was asked about what are he was going to do when this QE program ends (and it is scheduled to end in the beginning of 2017) and he basically said that they do not have any plans to do more QE.

We also had some similar statements coming from the Bank of Japan to the extent that they are not going to do anything more and this is scaring the markets because the markets have been riding a sea of liquidity from all over the world. (Nikkei 225 Index, SPDR S&P 500 Index ETF (SPY), Nasdaq 100 Futures, Nasdaq 100 Index ETF (QQQ), iShares Russell 2000 Index ETF (IWM))

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

Why Is The Market So Scared?

A possibility of an interest rate hike? All these guys (Federal Reserve Governors) say is "We do not rule out the possibility. Well, a possibility is not a probability and it is certainly not a certainty. But the market is acting as if the Federal Reserve is about to raise interest rates and that is why everybody is so scared. (SPDR Gold Trust ETF (GLD), SPDR S&P 500 Index ETF (SPY), iShares Russell 2000 Index ETF (IWM))

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 Best Interest Rates For The Economy

What is good for the economy is not low interest rates or high interest rates but interest rates that reflect the free market, the true savings and borrowing needs of the economy, the time preferences of savers and investors. You need a market rate of interest.

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: ISM Manufacturing Index Indicates Contraction

We got the ISM Manufacturing number. The prior month we had a bounce backhand everyone was excited about that, up at 52.60. Now the index collapsed to 49.40. That is a horrible number. Anything below 50 indicates contraction.  (Select Sector Financial Select Sector SPDR ETF (XLF), SPDR S&P 500 Index ETF (SPY), iShares Russell 2000 Index ETF (IWM), SPDR Dow Jones Industrial Average ETF (DIA))

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

Markets: The Fed Is The Only Game In Town

In many cases it does not really matter what the economic data is what matters is what the Federal Reserve says relative to the data. (Select Sector Financial Select Sector SPDR ETF (XLF), SPDR Dow Jones Industrial Average ETF (DIA), 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.

Federal Reserve: The Hawks Are Extinct

When it comes to the Federal Reserve the hawks are extinct. They are all doves of varying degrees.

** Hawk is the term used to describe a fed member who places keeping inflation low as the top priority in monetary policy and has the tendency to be prone to have a high level of interest rates. A monetary dove gives more emphasis to low unemployment, over low inflation thus it tends to prefer low interest rates.

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

Potential For A Big Reversal in Gold Stocks (Market Vectors Gold Miners ETF (GDX), Market Vectors Junior Gold Miners ETF (GDXJ))

Gold stocks were down another 5 percent but they are still way up on the year but we have seen a significant correction on the speculation that the Federal Reserve might raise interest rates, of course they might not.

We are going to have a jobs report on Friday and if it is really a weak report, all the rate hikes are completely off the table once again. So there is potential for a huge reversal if we get a really weak jobs number. (Newmont Mining (NEM), Barrick Gold (ABX), Market Vectors Gold Miners ETF (GDX), Market Vectors Junior Gold Miners ETF (GDXJ), NovaGold (NG))

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

Markets: The Interest Rate Cycle

Wether or not the Federal Reserve raises interest rates is irrelevant. What is far more relevant is that the rate hiking cycle is either already over or close to an end. It is nowhere near the magnitude that was originally believed by everybody.

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

Markets: Yellen On Future Asset Purchases

When she talked about future asset purchases programs like another round of quantitative easing, although she did not use the word QE, she talked just about asset purchases, she did suggest that they should expand that beyond U.S. Treasuries and mortgage backed securities that they used the last time and that should have been a very, very negative sign for the U.S. Dollar and positive for gold that he Federal Reserve is now thinking of broadening what it purchases to maybe corporate bonds or muni bonds or maybe they want to buy stocks.

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 Fed Is Not Really Considering A Rate Hike

I do not think the Federal Reserve is seriously considering an interest rate hike. They do not want to admit that they are not because they want to keep up the pretense that the economy is strong enough for a hike without actually delivering one. (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.

Markets: Gold Is Going Up, The U.S. Dollar Is Going Down

Even if the Federal Reserve raised interest rates all the way up to 1 percent, that is still not enough to hurt gold and still not enough to help the U.S. Dollar.

So, when are people going to figure out that it does not even matter what the Federal Reserve does because either way the U.S. Dollar is going down and gold is going to go up regardless of the fact that we may have another interest rate hike or even two hikes. This is the end of the tightening cycle. (SPDR Gold Trust ETF (GLD), iShares Silver ETF (SLV), Market Vectors Gold Miners ETF (GDX), Market Vectors Junior Gold Miners ETF (GDXJ))

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

Markets: Gold, Gold Stocks & Emerging Markets

I think the Federal Reserve is getting ready to cut interest rates again, launch QE4 and the markets are just starting to figure this out, at least figuring out that the Federal Reserve is not going to raise interest rates.

Now the markets are pricing out all the interest rate hikes that were priced in. That is great for gold, for gold stocks, it is great for emerging markets. (SPDR Gold Trust ETF (GLD), Market Vectors Junior Gold Miners ETF (GDXJ), Market Vectors Gold Miners ETF (GDX), iShares MSCI Emerging Markets Index ETF (EEM))

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

Markets: Get Out Of The U.S. Dollar As Quickly As You Can

My advice is, pay attention to what the Federal Reserve has just said, pay attention to what they are about to do and do something about it. That means getting out of the U.S. Dollar and get into gold and silver as quickly as you can.

Because if I am right and this policy does become official Fed policy next year, the U.S. Dollar is about to fall through the floor and gold is about to explode through the roof. (SPDR Gold Trust ETF (GLD), iShares Silver ETF (SLV))

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 Federal Reserve Wants More Inflation

The Federal Reserve wants more inflation. And what the Federal Reserve is saying is because they do not have room to lower interest rates very much because they are already practically at zero, the way to lower interest rates is to have more inflation so that we have lower real interest rates.

Related stocks and exchange traded funds: Market Vectors Gold Miners ETF (GDX), SPDR Gold Trust ETF (GLD), Market Vectors Gold Miners ETF (GDX), Newmont Mining (NEM), Barrick Gold (ABX)

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 Federal Reserve Will Go All-In

What the Federal Reserve is about to do will have the effect of basically putting the final nail in the economic coffin of the United States. The Federal Reserve is about to go all in on the failed policies of the past. They have completely misdiagnosed this disease.

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

Traders Are No Longer Buying What The Federal Reserve Is Selling

Traders are no longer buying what the Federal Reserve is selling. Because even though the Federal Reserve is talking about raising interest rates, the U.S. Dollar went down and Gold went up. People are paying more attention to what the Federal Reserve is actually doing rather than what they they are pretending 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.

Bitcoin Is Just Too Volatile To Be Money

Bitcoin is just too volatile to be money. At best it is just an asset, a speculative asset. It does have liquidity similar to money, you can exchange it.

Ultimately though the value of a Bitcoin may prove to be zero because it does not have any value if people do not want to use it as a medium of exchange or store of value because there is no real value there to store.

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

Good News Is Bad News When It Comes To The Stock Market

Good news is bad news when it comes to the stock market because the only thing propping up the stock market is cheap money and in order to keep the cheap money flowing the economic news has to be bad.

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 Rallies Will Not Be Sustainable

We can get rallies in the stock market but they are not going to be sustainable because the Federal Reserve is going to have to join this party. The Fed will need to come to the aid of the markets with new stimulus. Just delaying the rate hike is not going to do it. They actually need to deliver more stimulus, the Federal Reserve has to be in the game, the Fed has to join the other central banks in providing fresh stimulus. They have to cut interest rates, they have to go back to Quantitative Easing (QE). And until they acknowledge that the markets are never going to be able to make much.

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 U.S. Economy Is Not Getting Better, It Is Getting Worse

The economy is not getting better, it is getting worse. We are in a recession or about to enter one and the economic data continues to prove that. (iShares Russell 2000 Index ETF (IWM), SPDR S&P 500 Index ETF (SPY), Nasdaq 100 Index ETF (QQQ))

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 Stock Market Has Not Been Going Up For The Past Year

The stock market and the economy are very different animals. A recession refers to economic activity or economic growth it does not matter what happens to the stock market.

Now, the stock market has not been going up for the past year and in fact if you look at the average stock, the average stock has been falling for two, two and a half years. In fact, I think better than 50 percent of all stocks in the S&P 500 Index are now down more than 20 percent from their peaks.

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. Elections & The Stock Market

Everybody likes to say "the markets hate uncertainty". What the markets like less than uncertainty is certainty when certain is bad and there is a lot of bad policy that is coming and that is a certainty. I also think we are back in 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.

We Have A Bubble Economy That Needs Zero Or Even Negative Interest Rates

The economy never covered it actually got sicker thanks to the Federal Reserve which is the reason why the Fed cannot raise interest rates, the reason why when they tried to raise rates it was a complete failure!

Because it is the cheap money the only thing that is keeping this bubble economy going. We do not have a legitimate recovery that can withstand higher interest rates. We have a bubble that needs zero percent interest rates or even negative rates at this point and more QE.

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 Fed Cannot Raise Interest Rates

The Federal Reserve cannot raise interest rates but cannot admit that. So it pretends that if inflation picked up they would do something about it but they will do nothing about it. It does not matter how high inflation goes, 2.5 percent, 3 percent, 4 percent , 5 percent...it does not matter.They Federal Reserve will stay at zero or practically at zero. They will not try to reign it in because if they tried they would cause a worse financial crisis than 2008. (SPDR Gold Trust ETF (GLD), iShares Silver ETF (SLV))

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 To Move Into Much Higher Territory

Gold is not only going to re-test the highs from 2011 when it was close to 1900 but its going to surpass those highs and move into much higher territory. (SPDR Gold Trust ETF (GLD), iShares Silver ETF (SLV), Newmont Mining (NEM), Market Vectors Gold Miners ETF (GDX), Market Vectors Junior Gold Miners ETF (GDXJ), Goldcorp (GG), Barrick Gold (ABX))

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

Stocks, Gold & The Value Of Money

Stocks are not going up, the value of money is going down and gold proves that. (SPDR Dow Jones Industrial Average ETF (DIA), SPDR S&P 500 Index ETF (SPY), iShares Russell 2000 Index ETF (IWM), SPDR Gold Trust ETF (GLD), iShares Silver ETF (SLV))

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

Any Meaningful Increase In Interest Rates Would Bankrupt The Country

We have so much debt in the United States particularly at the Government and the Fed itself and the debt is of so short term nature at the Federal level that any meaningful increase in interest rates would bankrupt the country.

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

Another Bullish Sign For Gold

If something does not go down on bad news, that is very bullish. The jobs report was bad news for gold and it rallied anyway. (SPDR Gold Trust ETF (GLD), iShares Silver ETF (SLV), 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.

The U.S. Dollar Is Going To Fall Hard

The Dollar has already rallied for years based on a lie and a false understanding of the true state of the U.S. Economy and the direction of U.S. monetary policy.

The Dollar did not rally as a result of Brexit and the next thing it is going to happen is that it is going to fall, it is going to fall hard.

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 Strongest Currency On The Planet

The strongest currency on the planet is the Japanese Yen (JPY) which continues to rise every day. The only currency rising faster than the yen is gold or silver that is rising even faster than gold. (iShares Silver ETF (SLV), 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.

Bond Market : The Biggest Bubble Ever

This is a gigantic bubble. And again it is not just in the United States. I mean, Europe has a huge bubble, they have negative yields all over Europe on these bonds. So, from Japan to Europe, to the U.S. this is the biggest bubble ever, the bond market bubble and it is going 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.

A Very Powerful Rally

This is a very, very powerful rally. Gold stocks finished again at 3 year highs. The Market Vectors Gold Miners ETF (GDX) was up about 5 percent on the day.

Related stocks: Newmont Mining (NEM), Barrick Gold (ABX), Goldcorp (GG), NovaGold (NG)

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

Precious Metals: Silver And Gold Are Prepared To Move A Lot Higher

We now have confirmation from both metals (SPDR Gold Trust ETF (GLD), iShares Silver ETF (SLV)) that the markets are prepared to move a lot higher.

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 Stocks Are Not Expensive At All

They are not expensive at all. I think they are still cheap despite the fact that many of the gold stocks are now at multiyear highs as gold hits another 52 week high. I think relative to where they have been in the past and where they are going, you can still buy these stocks, I think they have a long way to run.

Related stocks: Newmont Mining (NEM), Barrick Gold (ABX), Goldcorp (GG), NovaGold (NG), Eldorado Gold Corp (USA)(EGO), Gold Fields Limited (ADR) (GFI)

Related Exchange Traded Funds: Market Vectors Gold Miners ETF (GDX), Market Vectors Junior Gold Miners ETF (GDXJ)

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

Switzerland Is The Strongest Economy In Europe

They talk about making Britain more like Switzerland. That would be a great thing. Switzerland is not in the EU and they have the strongest economy in Europe. So you do not have to be in the European Union to have a strong economy, in fact a lot of the countries in Europe are struggling because of the burden of regulation coming out of Brussels. (FTSE 100 Index, SMI Swiss Market Index)

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 Way Overreacting

I think the markets are way overreacting to what the implications are for the U.K. to leave the European Union. (SPDR S&P 500 Index ETF (SPY), SPDR Dow Jones Industrial Average ETF (DIA), Euro Currency Futures, EuroStoxx 50 Index)

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 Is Still Pretending

Janet Yellen is still pretending the Federal Reserve will eventually allow its balance sheet to shrink. It will not shrink, it will explode to new highs!

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 Gold Trade

Somehow a lot of people jump to the conclusion that the gold trade is an uncertainty trade, a political chaos trade but that is not really what is going on here. The price of gold is not going up because of what is going on in Europe. It is going up because of what is happening in the United States, more specifically in Washington and even more specifically at the Federal Reserve.

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 & The British Referendum

I think gold (SPDR Gold Trust ETF (GLD)) is going to go up regardless of the way the British vote. I think they should vote to leave but wether they stay or wether they go its not going to influence my decision wether or not I want to own gold. (Market Vectors Junior Gold Miners ETF (GDXJ), Market Vectors Gold Miners ETF (GDX), Newmont Mining (NEM), Barrick Gold (ABX), Goldcorp (GG))

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 Next Crisis Will Be A Dollar Crisis

We are not prepared for what is about to happen which again will be much worse than the 2008 financial crisis. It is going to be a dollar crisis, it is going ultimately to be a sovereign debt crisis and it is going to bring this bubble economy to its knees. (iShares Russell 2000 Index ETF (IWM), 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.

European Banks: Trading Lower Than They Were At The 2009 Lows

The European banks are lower than they were at their 2009 post Lehman financial crisis low. That is a huge decline in those European banks. They got negative rates over there. This is another example of what happens when you go to bed with the devil.

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 Rolling Over

The markets are rolling over. look at the financials! The European banks, most of these banks are now  not only at 52 week lows, they are at the lowest they have been as far as my charts go back.

Stocks: Bank of America (BAC), citigroup (C), J.P. Morgan (JPM), Deutsche Bank AG (USA)(NYSE:DB), Credit Suisse Group AG (ADR) (NYSE:CS), Barclays PLC (ADR) (NYSE:BCS), Banco Santander, S.A. (ADR) (NYSE:SAN)

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

Markets: U.S. Dollar, Emerging Markets

Once the Federal Reserve has to admit that we are in a recession, what are they going to do? They are going to cut interest rates, start printing up a lot of money, the U.S. Dollar tanks, commodity prices are going to rise and all of a sudden a lot of the emerging markets are going to be in better shape, a lot of the countries that were hurt by a strong U.S. Dollar and by the fear of higher Fed rates, those economies are going to take off. (iShares MSCI Emerging Markets Index ETF (EEM))

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

This Trade Is Just Getting Started

This trade is just getting started because the U.S. Dollar is falling and gold is rising when people still expect the Federal Reserve to raise interest rates. Imagine what is going to happen when they expect them to cut. (Newmont Mining (NEM), Market Vectors Gold Miners ETF (GDX), Market Vectors Junior Gold Miners ETF (GDXJ), SPDR Gold Trust ETF (GLD), Barrick Gold (ABX))

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 Are Going Into A Currency Crisis

It is going to be awful. Do you remember the financial crisis of 2008? You think that was bad? This is going to be worse. But it will not necessarily be concentrated in the stock market. I think that the Government, the Federal Reserve, their main goal is to make sure that the stock market does not collapse again, to make sure that the real estate market does not collapse again. And they may succeed but only by sacrificing the U.S. Dollar.

We are going into a currency crisis and this crisis will be much bigger than the financial crisis. The impact it is going to have on the average American, on their standard of living is going to be much more pronounced. (iShares Dow Jones US Real Estate (ETF) (IYR), Nasdaq 100 Index ETF (QQQ), SPDR S&P 500 Index ETF (SPY), iShares Russell 2000 Index ETF (IWM), 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.

Crude Oil Prices Close Above 50 Dollars A Barrel

Oil prices closed above 50 dollars a barrel for the first time in a year, since last summer, June or July. This is not good news for the American consumer but its not just gasoline prices that are going higher, a lot of prices are going up.

Related ETFs: Energy Select Sector SPDR ETF (XLE), United States Oil Fund LP ETF (USO), Nymex Crude Oil Futures

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

There Is A Bubble In Sovereign Bonds

The reason people are buying European bonds at negative yields its because its a bubble.

During the real estate bubble investors were buying investment properties that had negative cash flows. Meaning that the rents collected were not enough to cover the cost of owning the property. Now, why were they doing that? Its because they believed that the price of the real estate would go up despite the fact that it had a negative cash flow. They thought that there would be a greater fool who would pay an even higher price and endure an even bigger negative cash flow. So it was the greater fool theory.

That is what is going on now with European sovereign bonds trading at negative rates of interest except the greater fool is the European Central Bank (ECB). People are buying these bonds not because they are dumb enough to hold them to maturity. Nobody going to hold a negative yielding bond to maturity, you are guaranteed to lose money.

People were buying these bonds to sell, they think they will find a greater fool willing to pay an even higher price and get an even more negative yield. That fool is the ECB with their bond buying program and they will buy these bonds regardless of price. This is a gigantic bubble!

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

Why The Fed Will Not Raise Interest Rates

The reason why the Fed will not let interest rates go up is because if they let interest rates go up, we cannot afford to pay the interest on our debt and we would have to default. To avoid the embarassment of a default they keep interest rates artificially low. But I think its better to be honest and default than going through a currency crisis that we are heading to.

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

Markets: I Am Not Short U.S. Treasuries

I am not short U.S. Treasuries but I am short the U.S. Dollar. I am long foreign assets, I am long foreign stocks, I am long gold stocks. Look how much gold stocks are up this year. (Newmont Mining (NEM), Goldcorp (GG), Barrick Gold (ABX), NovaGold (NG), Market Vectors Gold Miners ETF (GDX), Market Vectors Junior Gold Miners ETF (GDXJ), iShares MSCI Emerging Markets Index ETF (EEM))

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 Fed Will Have To Go Back To Zero Interest Rates

When the Federal Reserve has to go back to zero interest rates, when they have to launch QE (quantitative easing program), when they maybe have to go negative interest rates, people will realize that none of this worked!

Exchange traded funds: Select Sector Financial Select Sector SPDR ETF (XLF), SPDR S&P 500 Index ETF (SPY), SPDR Dow Jones Industrial Average ETF (DIA), iShares Russell 2000 Index ETF (IWM)

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

America Is More Bankrupted Than Puerto Rico

Its all about perception. Puerto Rico is broke, we all know that. But it was broke 2 years ago, it was broke 3 years ago. Why did not anybody care? Creditors kept lending the money even though they were broke. Well, eventually people wake up and they realize that a debtor is broke. America is more bankrupted than Puerto Rico, our creditors have not figured out yet. We might not default but we will print.

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

Stock Market: I Am Not Short

I am not short the market because I do believe that the Federal Reserve will put a floor beneath the market by printing money. But the ultimate collapse is in the U.S. Dollar. It has not happened yet but the Federal Reserve is going to sacrifice the U.S. Dollar. (SPDR S&P 500 Index ETF (SPY), SPDR Dow Jones Industrial Average ETF (DIA), Nasdaq 100 Index ETF (QQQ), iShares Russell 2000 Index ETF (IWM))

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 Are Already In A Recession

I think that we are already in a recession. By the time they go back and revise the numbers that we got for the fourth quarter of last year, early this year, I think the data is going to reflect that we have been in a recession. They never know we are in a recession until you are almost finished with 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.

This Is The Biggest Bubble The Federal Reserve Has Ever Inflated

Everything the Federal Reserve has done since the financial crisis has made the underlying problems that caused that crisis worse. And because of that we are on the verge of a worse economic crisis. We are more addicted to cheap money than ever before. There have been more mistakes, more malinvestments, this is the biggest bubble the Federal Reserve has ever inflated.

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 Stock Market Has Gone Nowhere For The Last 12 Months

The stock market has gone nowhere for the last 12 months. The average stock is down.

Related exchange traded funds: SPDR S&P 500 Index ETF (SPY), iShares Russell 2000 Index ETF (IWM), Nasdaq 100 Index ETF (QQQ)

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

This Economy Is A Disaster

This economy is a disaster and everyone wants to pretend that it is great because no one wants to admit that Obama is a complete failure, that the Federal Reserve is a complete failure, that everything that the government has done has failed!

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

Markets: Gold, Gold Mining Stocks & Silver Stocks

It started the year below 1100, it got down to 1050 when the Federal Reserve just raised interest rates in December but it has had a pretty good run. The gold stocks have gone up a lot more. In fact there are silver stocks that have gone up 500 percent since their January lows. That has been the biggest move. (Newmont Mining (NEM), Goldcorp (GG), Barrick Gold (ABX), Hecla Mining (NL), iShares Silver ETF (SLV), 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.

A June Rate Hike Is Not Bearish For Gold

That rate hike (in June) even if it comes is not bearish for Gold (SPDR Gold Trust ETF (GLD)) nor is it bullish for the Dollar. What happened the last time the Federal Reserve raised interest rates? After a knee jerk reaction we had a huge rally in gold and a big drop in 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.

Stock Market: Banks (J.P. Morgan (JPM), Bank of America (BAC), Citigroup (C), Wells Fargo (WFC)) & Interest Rates

Any meaningful increase in interest rates is not a positive for the financials. It is just wishful thinking that these financials are going to do well when the Federal Reserve raises interest rates.

Stocks: J.P. Morgan (JPM), Bank of America (BAC), Citigroup (C), Wells Fargo (WFC)

Exchange Traded Fund: Select Sector Financial Select Sector SPDR ETF (XLF)

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 Stocks: Shaking Out The Weak Hands

Gold and silver stocks got obliterated. Most of the gold and silver stocks were down 8 to 10 percent on the day. That is a huge move but remember the biggest moves in a bull market are down and the biggest moves in a bear market are up and that is what you got. You get these huge moves that are there to shake out the weak hands, to shake out the speculators.

All this rate hike talk, this is just a bunch of talk but it provides fear in the wall of worry this bull market is climbing.

Stocks: Newmont Mining (NEM), Barrick Gold (ABX), NovaGold (NG), Hecla Mining (NL), Goldcorp (GG), Yamana Gold Inc. (USA) (AUY), Eldorado Gold Corp (USA)(NYSE:EGO), Kinross Gold Corporation (USA) (NYSE:KGC), Gold Fields Limited (ADR)(NYSE:GFI), Harmony Gold Mining Co. (ADR) (NYSE:HMY), Randgold Resources Ltd. (ADR) (NASDAQ:GOLD)

Exchange Traded Funds: Market Vectors Gold Miners ETF (GDX), Market Vectors Junior Gold Miners ETF (GDXJ), SPDR Gold Trust ETF (GLD), iShares Silver ETF (SLV)

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

Stock Market: Will the Fed Raise Rates In June?

If Wall Street actually believes that the Federal Reserve is serious about rising interest rates in June, which I do not believe, but if WallS treat believed it, the market would be tanking.

As we got closer and closer to the date that the Fed was theoretically going to raise interest rates, the market would be so low that any talk of a interest rate hike would be dead because now the Federal Reserve would have to deal with tighter financial conditions which is the way they refer to it.  (SPDR S&P 500 Index ETF (SPY), Nasdaq 100 Index ETF (QQQ), iShares Russell 2000 Index ETF (IWM))

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 Next Crisis Will Be A Currency Crisis

People are still refusing to admit what should already be obvious. But the problem is people who believe that the Federal reserve solved the problems, they never understood the problems in the first place, that is why they were surprised by the 2008 financial crisis. That same people will be even more surprised by the next crisis which will not just be a financial crisis, it will be a currency crisis which is going to be a whole lot worse than the financial crisis.

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 Stock Market: Earnings, Federal Reserve

The stock market right now is caught between earnings going down but the belief that the Federal Reserve will come back in the game with an interest rate cut or more quantitative easing to let the market back up. (iShares Russell 2000 Index ETF (IWM), Nasdaq 100 Index ETF (QQQ), SPDR S&P 500 Index ETF (SPY), Select Sector Financial Select Sector SPDR ETF (XLF))

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

Stock Market: We Are In A Earnings Recession

I think we are in a earnings recession in addition to the economic recession but imagine how much worse earnings would be if the Federal Reserve did not have interest rates close to zero. So all this is artificial. (SPDR S&P 500 Index ETF (SPY), iShares Russell 2000 Index ETF (IWM), Nasdaq 100 Index ETF (QQQ), Apple (AAPL), Macy's (M))

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 Stock Market Is Going Down But It Has Not Rolled Over Yet

The bad are not sinking in. The stock market has been trending down, particularly the Nasdaq but it really has not rolled over. (SPDR S&P 500 Index ETF (SPY), Nasdaq 100 Futures, Nasdaq 100 Index ETF (QQQ), Apple (AAPL))

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

Markets: The Bad News Aren`t Really Sinking In, Yet

The markets continue really to ignore all of the overwhelming bad news. Bad news on the economy, bad news on the corporate earnings front, on retails ales, you name it. The news is bad. The markets seem to shrug it off, the equity markets, the bond markets, the forex market, the gold and silver market.

I mean, sure there is a knee jerk reaction, we get some bad news and gold spikes up, the dollar dumps but then it recovers what it lost and gold surrenders its gains. The bad news aren`t really sinking in.

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. Treasuries Are Not Risk-Free At All

U.S. Treasuries are not risk-free at all because people that own them are going to take a haircut, they are not going to get paid 100 cents on the dollar and if they are it is because the dollar has collapsed and what they get paid will be worth even less.

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. Debt: Is Default The Solution?

I think it is going to have to because we have to have higher interest rates, there is no question that we cannot keep artificially suppressed interest rates or the U.S. Dollar is going to collapse, we are going to have runaway inflation, we are going to have to do something or we are not going to have real capital investment unless we have genuine savings. And no one is going to save when interest rates are zero or negative.

We are going to have to raise interest rates but then when interest rates go up it will be impossible to service the debt. Forget about repaying it. We cannot even pay the interest. (iShares Barclays 20+ Year Treasury Bond ETF (TLT), ProShares UltraShort Lehman 20+ Year ETF (TBT), U.S. Treasuries)

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

Donald Trump On U.S. Debt, Interest Rates

Trump talked about the fact that if interest rates go up we cannot afford to service the debt. He is a low interest rate guy, we wants to keep interest rates low and the main problem with higher rates other than what he believes would be a strong U.S. Dollar (I disagree with him there) but on the fact where he talked about that high interest rates, he said we cannot afford high interest rates so we have to be very careful because if we raise interest rates even a little bit, even a one percentage point increase would be a disaster because we do not have the money to pay. And he is right! We do not! 

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

Retail Sales Are Horrible

We got these year-over-year same store sales and they were horrible. I think every single company that reported sales missed estimates and some missed by a mile! So retail sales are horrible!

Related stocks: Wal-Mart (WMT), Starbucks (SBUX), Target Corporation (TGT), Macy's (M), J C Penney Company Inc (JCP)

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

Why The Federal Reserve Will Not Raise Interest Rates

The economic data is just too weak and the election too close for the Federal Reserve to actually take a chance at raising interest rates again given what a big disaster it was when it raised interest rates in December. (SPDR S&P 500 Index ETF (SPY), Nasdaq 100 Index ETF (QQQ), iShares Russell 2000 Index ETF (IWM))

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 Stocks: Still In The Early Stage Of A Big Bull Market

I think this is still the early stage of a big, big bull market in gold mining stocks, so do not let the noise shake you out. (Market Vectors Gold Miners ETF (GDX), Market Vectors Junior Gold Miners ETF (GDXJ), NovaGold (NG), Newmont Mining (NEM), Barrick Gold (ABX), Goldcorp (GG))

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 Will Get To 1,500 USD Relatively Soon

I think gold will go a lot high. Once we get through 1,300 dollars an ounce, we are knocking on the door, I think we can move up to 1,500 dollars an ounce relatively soon. (SPDR Gold Trust ETF (GLD), Market Vectors Gold Miners ETF (GDX), Market Vectors Junior Gold Miners ETF (GDXJ), Newmont Mining (NEM), Goldcorp (GG), Barrick Gold (ABX))

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

Markets: In The Short Run Its All About Perception, Than Reality Sets In

In the short run it is all about what people think not about reality. And if everybody is wrong than the markets are going to reflect that and ultimately though reality is going to cause the markets to change, assets will be repriced not based on what people thought it was going to happen but based on what actually happens.

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 U.S. Dollar Will Accelerate Lower

The markets are starting to validate what I have been saying. The Dollar is just starting to break down, technically it does not have much support here.  I see an acceleration in the weakness of 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.

Dollar Weakness, Gold Strength Caught Wall Street By Surprise

The U.S. Dollar closed on the low of the month. The Dollar Index barely held the 93 handle. The Dollar is weak across the board. I think year to date now the Dollar Index is down about 6 percent. Nobody expected this! At least nobody in the conventional Wall Street, fund managers, hedge fund managers. They all expected the opposite. The same thing with 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.

The Bond Market Is Smelling Inflation

Probably the most disturbing thing if I was on the Federal Reserve would be what is happening with long term interest rates. Take a look at yields on the 30-year US. Treasuries. We are now at the highest yield we have been in about 3 months. Why are yields rising?  The economic data is getting weaker, so why are interest rates rising? Because the bond market smells inflation, they smell stagflation. (iShares Barclays 20+ Year Treasury Bond ETF (TLT))

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 & Silver: Poised For Another Big Move Up

To me, these markets look as if they are poised for another big, big move up any day. ( iShares Silver ETF (SLV), SPDR Gold Trust ETF (GLD), Market Vectors Gold Miners ETF (GDX), Market Vectors Junior Gold Miners ETF (GDXJ), Newmont Mining (NEM), Barrick Gold (ABX), NovaGold (NG))

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

Crude Oil & Stock Market: Decoupling

The markets are really acting as they are figuring out what is going on. I mean the markets have stagflation written all over them. First of all, oil. Oil had a big up day today, better than 2 dollars a barrel. This is the highest price of the year yet despite this big jump in oil prices the Dow Jones Industrials Index was barely up and the Nasdaq Composite was down. Decoupling. (Nymex Crude Oil Futures, United States Oil Fund LP ETF (USO), iShares Russell 2000 Index ETF (IWM), SPDR S&P 500 Index ETF (SPY), Nasdaq 100 Index ETF (QQQ))

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 Stock Market Is Going Down In Real Terms

Gold continues to rise, so in real terms the U.S. stock market is going down and in fact the U.S. Dollar is now declining and has been declining all year against almost all currencies in the world, so it is just an illusion that the stock market is going up. (SPDR S&P 500 Index ETF (SPY), Nasdaq 100 Index ETF (QQQ), SPDR Dow Jones Industrial Average ETF (DIA), iShares Russell 2000 Index ETF (IWM))

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 Stock Market Is Not Going Up As Fast As Gold

We want businesses investing in capital to increase labor productivity so that workers can earn more real money and the prices in real terms can come down so consumers can enjoy a higher living standards. None of that is happening. This has just been a bubble and the problem is that the air has been coming out of it, that is why we relapsed back into recession.

Yes, the stock market is going up but not as fast as the price of silver, not as fast as the price of gold. So in real terms the stock market is actually going down faster now than it was last year. (SPDR S&P 500 Index ETF (SPY), SPDR Dow Jones Industrial Average ETF (DIA), Nasdaq 100 Index ETF (QQQ), SPDR Gold Trust ETF (GLD), Market Vectors Gold Miners ETF (GDX), iShares Silver ETF (SLV), Market Vectors Junior Gold Miners ETF (GDXJ))

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

America: A Coming Bankruptcy

Its a coming bankruptcy but we are actually bankrupted, it is a question of when we acknowledge it, the fact that we are a bankrupted country. That is one of the things that I agree with Trump, he constantly talks about the fact that America is broke, and we are. (SPDR S&P 500 Index ETF (SPY), SPDR Dow Jones Industrial Average ETF (DIA), iShares Barclays 20+ Year Treasury Bond ETF (TLT), U.S. Treasuries)

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 Stocks Are Rallying But The Major Firms Are Not Yet Participating

Gold stocks are going up yet everybody in the mainstream is sitting there doubting it. They are looking in amazement at the rally. This market is moving up and nobody in the mainstream of the investment world is on board. The train has left and there is nobody on it. So eventually they are going to buy at some point like they piled into the gold trade when it was at 1700, 1800, 1900. That is when the big firms started jumping on board just before the market turned. (Market Vectors Gold Miners ETF (GDX), Market Vectors Junior Gold Miners ETF (GDXJ), Newmont Mining (NEM), Barrick Gold (ABX), Goldcorp (GG))

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 Worst Case For Gold Is Still Bullish

The worst case scenario for Gold is, the Federal Reserve raises interest rates a little bit and that is bullish for gold or they do not raise interest rates at all, and that is even more bullish for gold or they cut interest rates and gold goes ballistic. (SPDR Gold Trust ETF (GLD), iShares Silver ETF (SLV), Market Vectors Gold Miners ETF (GDX), Market Vectors Junior Gold Miners ETF (GDXJ))

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

Another Bullish Factor For Gold & Silver

I am seeing a lot of mainstream articles now about why you should not jump on this bandwagon, how dangerous the gold market is. And all this stuff really is music to my ears. If you are a bull, this is exactly what you want. You want everybody to be skeptical. You want everybody to doubt. (SPDR Gold Trust ETF (GLD), iShares Silver ETF (SLV), Market Vectors Gold Miners ETF (GDX), Market Vectors Junior Gold Miners ETF (GDXJ), Newmont Mining (NEM), Barrick Gold (ABX), Hecla Mining (NL), Goldcorp (GG))

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, Mining Stocks Ready For Another Leg Higher

We are starting to see silver (iShares Silver ETF (SLV)) outperforming gold (SPDR Gold Trust ETF (GLD)), we are starting to see the small mining stocks (Market Vectors Junior Gold Miners ETF (GDX) outperforming the senior mining stocks (Market Vectors Gold Miners ETF (GDX)). We are now kicking in another leg up in the market.

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

Silver & Gold: I Still Like Both Metals

I still like both metals. But this is constructive action.In fact the gold stocks are at new highs for the year even though gold itself still needs to go up 30 dollars. (SPDR Gold Trust ETF (GLD), Market Vectors Gold Miners ETF (GDX), Newmont Mining (NEM), Barrick Gold (ABX), Goldcorp (GG), NovaGold (NG))

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

Recent Economic Data Points To A Recession

Obviously this economy is already back in recession and if its not in a recession its in the cusp of one.

You look at the data that came out, you got Industrial Production unless that came out, they were looking for a bounce, instead we got another true decline, they revised February down, we had big inventories build again this week, retail sales disappointed.

I think its clear that that we could be in a negative GDP quarter now and I think if the first quarter is bad the second quarter is going to be worse because the last couple of years we had a rebound in the second quarter because of very cold winters. Well, this winter was the warmest in 120 years, so there is nothing to rebound from. (SPDR S&P 500 Index ETF (SPY), SPDR Dow Jones Industrial Average ETF (DIA), Nasdaq 100 Index ETF (QQQ))

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

Silver Typically Does Even Better Than Gold In Bull Markets

If I am right about a bull market in Gold, there`s got to be a bull market in Silver. I do not think that there has ever been a bull market in Gold that was not accompanied by a bull market is Silver. And typically the Silver market does even better in a bull market than Gold. (SPDR Gold Trust ETF (GLD), iShares Silver ETF (SLV), Hecla Mining (NL), Market Vectors Gold Miners ETF (GDX), Goldcorp (GG), Newmont Mining (NEM), Barrick Gold (ABX))

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 Stock Market Is Caught Between Opposing Forces

I do not know if the Dow Jones Industrials Index is rising despite the bad economic news or because of the bad news. Because the bad news means the economy is weak and corporate earnings are not going to be there and you have a high multiple. Disappointing earnings are bad for stocks but of course if the economy is weak that takes the Federal Reserve out of the interest rate hiking game and I think puts it in the cutting interest rates and QE4 game and of course that is bullish for stocks. The market is caught between these opposing forces. (SPDR Dow Jones Industrial Average ETF (DIA), SPDR S&P 500 Index ETF (SPY), iShares Russell 2000 Index ETF (IWM), Nasdaq 100 Index ETF (QQQ) )

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 Stock Market Is Still In Denial

I think the markets are still in denial in respect to the underlying weakness of the U.S. Economy. The reason the markets have rallied off their February lows is because it is apparent and it should have been apparent earlier that the Federal Reserve is not going to be raising interest rates many times if at all in 2016. (SPDR Dow Jones Industrial Average ETF (DIA), Nasdaq 100 Index ETF (QQQ), iShares Russell 2000 Index ETF (IWM), SPDR S&P 500 Index ETF (SPY), iShares MSCI Emerging Markets Index ETF (EEM))

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

Oil Prices Going Up Is Bad For U.S. Stocks And For The Economy

Oil prices going up instead of going down its going to be a negative to the U.S. Economy. I think the idea that what we need is higher oil prices, when it comes to wishing for higher oil price because you think that is good for the economy and for the stock market, be careful about what you wish for.

In fact, at the rate that own our rig count is collapsing all this oil that we are no longer producing has to be imported and the trade deficit going higher is also a negative for the U.S. Economy. (Energy Select Sector SPDR ETF (XLE), United States Oil Fund LP ETF (USO), SPDR S&P 500 Index ETF (SPY), iShares Russell 2000 Index ETF (IWM))

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 U.S. Economic Weakness That Nobody Wants To Accept

We may have one of the weakest economies of the advanced economies, its just that nobody wants to accept that fact yet. (iShares Russell 2000 Index ETF (IWM), SPDR Dow Jones Industrial Average ETF (DIA), SPDR S&P 500 Index ETF (SPY), Nasdaq 100 Index ETF (QQQ))

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 Stocks: A Big Rally Again

We had a huge up day in gold stocks. Actually between Friday and Monday, I think this was the biggest back to back gain in gold stocks all year. The catalyst for this was the downgrade in the first quarter GDP estimates from the Atlanta Fed all the way down to just 0.1 percent. (Market Vectors Gold Miners ETF (GDX), Newmont Mining (NEM), Barrick Gold (ABX), NovaGold (NG), Goldcorp (GG))

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

Stock Market: The Rally is Over

I think that this rally is over. I think the market is rolling over because as I said before, just not raising interest rates is not going to cut it. What the Fed is going to have to do is to cut interest rates back to zero. (SPDR S&P 500 Index ETF (SPY), iShares Russell 2000 Index ETF (IWM), SPDR Dow Jones Industrial Average ETF (DIA), Nasdaq 100 Index ETF (QQQ))

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

This Economy Would Have To Improve Dramatically To Get To Mediocre

This economy would have to improve dramatically to get to mediocre, it is lousy! Why do you think Donald Trump and Bernie Sanders have so much support? You know, behind all those phony jobs numbers are a lot of angry Americans who lost their full time jobs and have a low paying part time job, their standard of living is going down, their cost of living is going up. Everybody wants to pretend that this is a legitimate recovery but it is just an illusion.

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. Recession: Trump Predicts A Very Massive Recession In The U.S.

Donald Trump has now predicted a very massive recession in the United States now. He did not say a recession, he is predicting a massive recession and of course must of the pundits on television don`t see any recession at all, not even a mild one. Here we have Donald Trump saying not only the recession is going to be massive but actually it is going to be very massive. (SPDR Dow Jones Industrial Average ETF (DIA), SPDR S&P 500 Index ETF (SPY), Nasdaq 100 Index ETF (QQQ), iShares Russell 2000 Index ETF (IWM))

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 Miners, Commodity Stocks: The Beginning Of A New Trend

It was one of the best quarters that I can remember for gold stocks. No one on Wall Street owns gold stocks but people like me own them, my clients own gold stocks. They had a great quarter.

So, if you are investing abroad, if you are investing in resource, if you are investing in gold, you had a phenomenal quarter and in my opinion this is the beginning of a new trend.

(Newmont Mining (NEM), Barrick Gold (ABX), Goldcorp (GG), NovaGold (NG), Hecla Mining (NL), Exxon Mobil (XOM), Marathon Oil (MRO), ConocoPhillips (COP), xle, 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.

The U.S. Dollar Bubble Has Burst

The U.S. Dollar bubble has burst and I think this is the biggest dollar bubble I have ever seen. I think there is more air that is going to come out of it. The last U.S. Dollar bubble popped in 2001 and that one had inflated along the dot com bubble. The Dollar Index got to about 120 and by the time it bottomed out in 2008 the Dollar index was almost at 70.

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

International Investing Doing Very Well

If you are invested internationally you had a great quarter. This is probably the best quarter since any quarter that I can remember since 2009 to be invested internationally. Because the weakness in the Dollar was a big tailwind. I think emerging markets had their best quarter in 4 years, the stocks were very strong. (iShares MSCI Emerging Markets Index ETF (EEM))

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: Best Quarter In Over 30 Year!

Gold had its best quarter in better than 30 years! Gold was up more than 16 percent in the first quarter. Imagine being short that especially with the amount of leverage hedge funds use. This was the first time ever that the hedge funds were net short, they ended last year net short gold! (SPDR Gold Trust ETF (GLD), Market Vectors Gold Miners ETF (GDX), Newmont Mining (NEM), Goldcorp (GG), Barrick Gold (ABX))

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 Pain Trade

At the end of last year, everybody with an hedge fund was long the U.S. Dollar and short the Euro, short the Yen, short the Australian Dollar, short the Canadian Dollar, you name it. Some of these guys were short the Chinese Yuan. The Yuan had a pretty good quarter too, the strongest quarter in 2 years. So everybody who was long the U.S. Dollar and short another currency got killed in the first quarter. The on ly people that lost more money than the people shorting the U.S. Dollar were the people who were shorting gold!  (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.