Stock Market: What Will Happen Next

Overall the market is now recovering because I believe more and more people are beginning to realize that the Federal Reserve is not only not going to be raising interest rates in 2016 but they are going to be cutting them, they are going to be doing another round of economic stimulus and that is what is saving the stock market.

The question is, will the Federal Reserve meet those expectations and actually come out and validate them or they are going to throw cold water on it and in this that case this rally will fizzle out and the market is going to go to new lows. (SPDR S&P 500 Index ETF (SPY), SPDR Dow Jones Industrial Average ETF (DIA), iShares Russell 2000 Index ETF (IWM), 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.

Stock Market: This Is Not A Lasting Bottom

We are not going to get a lasting bottom until the Federal Reserve makes that bottom. It is not going to be a Jamie Dimon bottom, it is going to be a Janet Yellen bottom. I think it is exactly what we are going to have to do to get a real low in this market. Remember, every single decline that the market has experienced since 2009, the bottom has been set by the Federal Reserve, not by individuals trying to pick it. It has been the Federal Reserve forming that bottom by coming to the rescue with interest rate cuts, QE programs, operation twist, hinting about another QE program. And so far the Federal Reserve has done none of that.

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. Dollar: The Only Reason it Rose And Why Its Now Falling

The only reason that the U.S. Dollar has risen these past few years, although it is now falling so far in 2016, but the reason it rose was because everybody was convinced that what the Federal Reserve did actually worked, that we had a real recovery, that the Federal Reserve was going to be able to raise interest rates. I knew all along that it was not true!

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. Stocks, The Economy

What really should get people nervous about the economy is the economy! The economy is really sea, it is one of the reasons the stock market is going down, the other one is of course that the Federal Reserve pricked the bubble and the air is coming out. (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.

Gold Stocks Making New Highs

Several gold stocks that I follow, that I own, made new 52 week highs and several others did not quite make 52 week highs but are trading at the highest point of this calendar year.

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

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

Why Is Goldman Sachs Picking On Gold?

Goldman Sachs (GS) came out to encourage their clients to short Gold. And you can think of all the potential shorts out there, why even short Gold? I mean, if Gold is at 1,200 and Goldman thinks its going to 1,000, if a stock is at 12 and you think the downside is 10, there is really not a lot to short there.

Why is Goldman Sachs (GS) picking on Gold with so many other good shorts out there? Most likely it is because Goldman Sachs (GS) is short gold itself and needs to cover it or just wants to buy Gold and they want to push the price down so they can buy at a better price. (Market Vectors Gold Miners ETF (GDX), SPDR Gold Trust ETF (GLD), 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: A Bull Market Climbing A Wall Of Worry

There is still more fear than greed in the gold market. People are more worried that the market is going to crash and they want to cut and run. They are more anxious to get out, more nervous that gold is going down than they get excited when gold is going up. Well, this is a good sign of a bull market climbing a wall of worry. (SPDR Gold Trust ETF (GLD), 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.

Markets: Stocks, Gold & Gold Stocks

The stock market and the gold market are really the mirror image of each other right now. Gold tends to be trading off of stocks, if stocks are going down, gold is going up, if stocks are going up, gold is going down. So that is the dynamic that is in play right now.

Ultimately I do believe that stocks, gold and gold stocks will be going in the same direction because they will all be responding positively to the Federal Reserve admitting that is not going to raise interest rates, that it will be cutting interest rates even to negative and launching QE4. (SPDR S&P 500 Index ETF (SPY), iShares Russell 2000 Index ETF (IWM), 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.

As Long As The Fed Keeps On Bluffing, The Markets Will Keep On Falling

Whenever the Federal Reserve raised interest rates there was going to be a disaster. The fact that they waited so long means it is going to be a bigger disaster.

We are only going to have a crash if Janet Yellen continues to pretend that the economy is healthy and that the Federal Reserve is planning more interest rates hikes. I think the Federal Reserve will launch QE4, I think the next move by the Federal Reserve is to cut interest rates, not to raise them again. As long as the Federal Reserve keeps on bluffing, the markets will keep on falling.

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 Have Upside

These stocks are still so far from their 52 week high. Gold just made a 52 week high. I think we still have another 25 percent to go in gold stocks for them to get back to where they were last time gold was at this level.

Stocks: Newmont Mining (NEM), Barrick Gold (ABX), Goldcorp (GG)

Exchange traded funds: Market Vectors Gold Miners ETF (GDX), SPDR Gold Trust ETF (GLD)

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

Gold: Headed Higher Short Term And Long Term

The Federal Reserve raised rates but I still believe that the next move is down. Meanwhile, gold now has to reverse the past 3 years of losses because they were based on the fantasy of a legitimacy of a U.S. economic recovery where the Federal Reserve could raise interest rates. I think gold is headed a lot higher in the short term, in the intermediate term and in the long term.

Related: 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.

Gold: "I Am Telling People To Buy Gold To Hold"

You do not have to know how high the price of gold is going to go. If you think it is going up, you buy it. It does not matter how much it is going up, I mean, I am not telling people to buy gold now and sell it later in the year. I am telling people to buy gold to hold. (SPDR Gold Trust ETF (GLD), 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.

Markets: Sell-Off In European Banks

These big banks in Europe are lower than they were at their lows in 2008/2009 financial crisis. And the big one is Deutsche Bank AG (NYSE:DB) which had to come out and assure everybody that they do not have any solvency problems which is very reminiscent of Lehman Brothers or Bear Stearns.

Related stocks: Bank of America (BAC), Citigroup (C), Morgan Stanley (MS), Goldman Sachs (GS)


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: Up $120/ Ounce Since The Fed Raised Interest Rates

Gold was up 5 percent on the week. The price of gold has now risen 120 dollars an ounce since the Federal Reserve raised interest rates in December.

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

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

The Vast Majority Of Nasdaq Stocks Are In Bear Markets

The vast majority of Nasdaq stocks are in bear market.s. Many of these stocks are down 40 or 50 percent or even more. In fact there are a number of Nasdaq stocks that are down 40 percent in a day! (LinkedIn Corp (LNKD)) The Russell 200 Index is already in a bear market. It is down 24 percent from its high.

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

Interest Rates: We Are Going Negative

The Federal Reserve is only pretending to go the other way. I said this before, if the Federal Reserve actually raised interest rates the next thing they would do was to cut them. Everybody wants to pretend that the Federal Reserve is going to raise interest rates because the U.S. is supposedly the only example that quantitative easing (QE) actually works. But it did not work. It was a complete failure! But everybody wants to pretend that it was a success, they want to pretend that they are going to raise rates. We are going to go back to zero interest rates, in fact we are going to go negative, we are probably going to be lower than Europe or Japan. We are going to back up the truck with QE4, which is going to be bigger than QE3 but none of it works!

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

U.S. Economy: The Only Reason Jobs Are Being Created

The only reason jobs are being created is because so many Americans now have two or three part time jobs. We are destroying real jobs, goods producing, full time jobs, we are replacing them with service sector jobs, low paying, part time work. That is the real story!

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 Recession Will Be Longer & Deeper

The U.S. Economy is in recession right now and this recession is going to last longer and be even deeper than the Great Recession of 2008-2009. So we are going to have to rename that recession because this one will be greater!

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 Reason Why The Stock Market Is Going Down

The reality is the market is going down because it is a bear market, that is why it is going down. The market is going down because the U.S. Economy is in a recession and there is nothing the Federal Reserve can do about it unless it wants to lose its credibility or acknowledge that the economy is much weaker than they thought. (Select Sector Financial Select Sector SPDR ETF (XLF), Energy Select Sector SPDR ETF (XLE), SPDR S&P 500 Index ETF (SPY))

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

National Debt: There Is Going To Be A Crisis Along The Way

Barack Obama might have already doubled the national debt since he was sworn in. We doubled the debt, doubled it! We added as much debt under Obama as we did from George Washington to George W. Bush. And of course if this continues, the next president is going to double the 19 trillion to what? 40 trillion, that is impossible right? So there has to be crisis somewhere along the way. There is no way we can continue on this tranjectory.

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: A Cyclical Recession Is Already Under Way

None of this is going to keep the U.S. Economy out of recession. The fact that the Japanese lowered their interest rates, the fact that the Europeans lowered their interest rates, that is not going to change anything on Main Street USA. And the fact of the matter is corporate profits are under pressure, retail sales are under pressure, and the layoffs are going to come. It is not going to matter what the global monetary policy is, this cyclical U.S. recession is already under 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.