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.