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.