Yellen`s Dovish Speech is Bullish For Gold

Janet Yellen gave a speech in front of the Economic Club of New York and this is probably one of the most dovish speeches, if not the most dovish speech she ever gave. As a result of this speech the price  of gold was up about 20 dollars on the day. (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.

The Fed Cannot Raise Interest Rates

If the Federal Reserve tries to raise interest rates we will have a worse financial crisis than the one they caused in 2008. And so you cannot say that this is a success, it is a complete failure but people just do not know it yet because the high has not worn off. (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.

The Recent Gold Sell-Off Explained

When a market does not rally on good news it generally means it is overbought or ready to go down. And the people might have jumped on the failure of gold to sustain a big rally on what was perceived to be good news for gold as bad news. So that might be one of the reasons that you have the selling. To me that is a non event.

I do not buy gold because I am worried about a terrorist attack, it has nothing to do with the reasons I buy gold. I would not rush to buy gold because there was a terrorist attack. Why would I? Because when the attack is over the price goes back down. So it does not make any sense.

The real reason I buy gold  has to do with inflation, the central banks creating it, artificially low interest rates, negative interest rates, quantitative easing, all of these things.

Related trading instruments: SPDR Gold Trust ETF (GLD), Market Vectors Gold Miners ETF (GDX), Newmont Mining (NEM), Goldcorp (GG), 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.

We Will Go Back To A Gold Standard

Ultimately we will go back to a gold standard and it is going to work. Because what we have now, a fiat system does not work! (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.

U.S. Dollar: The Trend Has Reversed

Looking at the trend, I think the trend in the U.S. Dollar has reversed. Because the Dollar gained for years based on the idea that the Federal reserve was going to be raising interest rates. But I know they cannot do that because the minute they raise interest rates they put us right back into recession. (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.

Why Gold Traded Down Today?

Gold went down today because people are afraid of the Federal Reserve raising interest rates. But what happened the last time the Federal Reserve raised interest rates? Gold went way up! (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.

U.S. Dollar: The Chinese Recognize The Mistake

The Chinese are recognizing that they have too many U.S. Dollars. They recognize it was a mistake to peg their currency to the U.S. Dollar.

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

The American Consumer Is Not Confident

There is nothing to suggest that the American consumer is confident. All of the information shows that he is not confident!

Related stocks: Wal-Mart (WMT), Tiffany`s (TIF), Sears (SHLD), 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.

Markets: U.S. Dollar, Dividend Paying Foreign Stocks

The U.S. Dollar is falling across the board and that is going to produce spectacular returns outside the United States. So if you want to buy corporate bonds look for companies that are going to pay you in a currency that is not going to go down. But I would rather invest in dividend paying foreign stocks in countries that are going to see substantial appreciation against the dollar but also countries that have much better macroeconomic outlook. (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.

Silver Stocks Are Doing Even Better Than Gold Stocks

This long dollar trade is going to unravel fast because everyone is on the wrong side of it.

Gold is trading around 1265, it is still about 15 to 20 dollars off the highs but these gold stocks made new highs for the year and what is even better than the gold stocks are silver stocks. (SPDR Gold Trust ETF (GLD), Market Vectors Gold Miners ETF (GDX), iShares Silver ETF (SLV), 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.

Silver Stocks Are On Fire

Silver is now leading after having lagged, and I see a lot of people out there saying, "Buy gold, short silver." And I thought, what a foolish trade!

Silver now is making new highs for the year, it is now leading gold and the silver stocks are really on fire.

Stocks: Hecla Mining (NL), 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 Keeps Pretending That The Economy Is Strong

If the Federal Reserve were honest they would acknowledge how weak the economy is but they cannot do that for political reasons so all they can do is not raise interest rates. They have to keep pretending that they will raise interest rates so they can keep pretending that the U.S. Economy is strong. (SPDR Gold Trust ETF (GLD), iShares Barclays 20+ Year Treasury Bond ETF (TLT), 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.

This Commodity Move Is Real, We Are In A New Bull Market

The commodity currencies that have been rising are going to continue to rise against the U.S. Dollar. You are going to continue to see strength in latin America currencies, you are going to continue to see strength in Asian currencies and this means this commodity move is real, we are in a new bull market. (United States Oil Fund LP ETF (USO), Market Vectors Gold Miners ETF (GDX), SPDR Gold Trust ETF (GLD), Energy Select Sector SPDR ETF (XLE), Nymex Copper Futures, 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.

U.S. Dollar: The Fed Is About To Launch A New Easing Cycle

The Federal Reserve is about to launch a new easing cycle. As the European Central Bank (ECB) is ending its easing program, we are beginning our easing program, we are ending our tightening program.

Related: Euro / U.S. Dollar (EURUSD)

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: There Is No Chance Hillary Would Be A Good President

A lot of people are under the impression that I am endorsing Donald Trump because I have said some positive things about him and his campaign. But I want to make it clear that I am not doing that. I am not convinced that he is going to be a good President although it is possible that he could. I think there is no chance that Hillary Clinton would be a good President, I am pretty sure that is clear but Donald Trump is a wild card.

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 Economy Is Rapidly Losing Momentum

The economy is rapidly losing momentum, in fact the jobs number that came out, everybody wants to pretend that was such a great report. 90 percent of the jobs that were created were part time jobs.

Believe me, people want full time jobs, they do not want part time jobs.

ETFs: SPDR Gold Trust ETF (GLD), 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.

QE4 Will Push Commodity Prices Up Even Faster

I think we are going to do QE4 before the election and that is really going to push commodity prices up even faster. (United States Oil Fund LP ETF (USO), SPDR Gold Trust ETF (GLD), Nymex Copper 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.

Commodities: The Supply And Demand Dynamics Are Beginning To Shift

As the Dollar comes down, it increases demand for commodities because they are priced in dollars and so when the U.S. Dollar goes down it brings down the price of commodities and demand is very sensitive to price, the lower the price the bigger the demand.

The supply and demand dynamics are beginning to shift and I think we are going to see much much higher prices as the year progresses and in the following several years. (United States Oil Fund LP ETF (USO), Nymex Crude Oil Futures, 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.

Commodities Are Going Higher

It is the Dollar going down and also supply. The price is a function of supply and demand and there is a lot of reduction in exploration and production so that is also causing prices to go higher. But the Dollar has also been weakening, the Dollar is at a 7 month low against the Australian Dollar (AUD). The U.S. Dollar has been weakening considerably in recent months, weeks. (United States Oil Fund LP ETF (USO), Nymex Crude Oil Futures, 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.

Commodities Are Turning

Commodities are turning, the U.S. Dollar is turning, gold is turning and this is just going to compound the problem for the Federal Reserve. Because now they are not going to be able to hide behind the fact that there is not enough inflation. We are going to get more inflation but it is going to be stagflation.

(SPDR Gold Trust ETF (GLD), Market Vectors Gold Miners ETF (GDX), 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.

U.S. Economy: We Are Already in A Recession

I think we are already in recession. I think it began last year in the fourth quarter. Although I believe we have been in a recession for the entire recovery. I never believed that this was a legitimate recover. I think the government has been understating the amount of inflation and therefore overstating the amount of growth. That game is over.

The economy was so weak in the forth quarter that by the time they redo the numbers later in the year they are going to go back and revise that 1 percent growth to negative. And there is a very good chance that we are going to have another negative number for the first quarter of this year.

(Select Sector Financial Select Sector SPDR ETF (XLF), 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.

Will Draghi Take Europe Deeper Into Negative Rates?

There are some rumors that they are going in that direct. And I think there are nearing the end of the negative interest rates experiment. It has been a disaster, it has blown up in their faces, it is clobbering the European banks which in many cases the stocks are trading lower than they were at their lows in the 2008 financial crisis and negative interest rates are just making the problems bigger.

(Deutsche Bank, Banco Santander, Societe Generale, BNP Paribas, Credit Agricole, ABN Amro, BPI, BCP, Banco Popular)

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. Will Monetize The Debt Eventually

When foreign governments or foreign individuals buy our bonds, then the U.S. Dollar can stay strong but if we have to print dollars to buy those bonds then the supply of dollars worldwide is exploding and people can see what we are doing, they can see that we are just monetizing our debt and every country that has collapsed has collapsed for the same reason. You can look for examples of what happened to the countries that have monetized their debt. (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.

All of America`s Creditors Are Going To Stop Lending Us Money

All of America`s creditors are going to stop lending us money because we have already borrowed more than we can possibly repay.

The U.S. Dollar and U.S. Treasuries are probably the most over owned assets in the world. And if the creditors are going to stop lending us that just leaves the Federal Reserve. Because we either default which would be honest but politically almost impossible or the easier rout is to have the Federal Reserve monetizing the debt. (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.

Markets: Is The Bottom In? Depends On The Fed.

This is all about the Federal Reserve. Wether or not we hit bottom depends on wether the Fed capitulates.

I heard a Fed governor talk about how great the economy is and how it is going to continue on improving. It was Bullard. And Bullard was saying that this year economic growth is going to be a lot faster than it was last year. Last year we were at 1.8 percent and he is saying it will be about 2.5 percent this year.  I do not know where he is getting that number from because this year off to a much worse start than last year.

So, I do not know why he is so optimistic. So, as long as the Federal Reserve has this type of rhetoric it is going to be hard for the market to bottom. (Select Sector Financial Select Sector SPDR ETF (XLF), 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.

Economic Problems Are Made In America

One of the only things that are still made in America are economic problems. To try to blame things on China... This has nothing to do with China. Some of the weakest stocks in the U.S. market are stocks that derive all of their earnings (or the vast majority) in the United States.

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 Wants Inflation And They Will Get It

All the people out there that do not expect inflation, they are going to be surprised. And by the time they figure out how much inflation is coming they are going to have huge losses. That is going to be a fine example of to be careful of what you wish for because you just might get it!
When the bondholders  wake up and realize how much inflation they are going to get relative to what they expect, that is a nightmare scenario for the Federal Reserve.

(Select Sector Financial Select Sector SPDR ETF (XLF), 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.

Even Jim Cramer (CNBC) Can See There Is A Recession

Even Jim Cramer (CNBC) can see there is a recession. Cramer is saying that the Federal Reserve is blind and they cannot see a recession. That is exactly what I have been saying. Maybe Cramer has been listening to my podcasts! (SPDR S&P 500 Index ETF (SPY), SPDR Dow Jones Industrial Average ETF (DIA), Select Sector Financial Select Sector SPDR ETF (XLF), 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.