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.