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.