U.S. Markets: Who Will Replace The Fed’s Purchasing Power?

Peter Schiff recently left this unanswered question on his Twitter, "One big concern going forward is who will step up to replace the Fed’s purchasing power in the US Securities market?" 

This comes after last week’s announcement that the Federal Reserve will begin reducing its massive balance sheet. 

Trump Tax Plan: Highlights

Peter Schiff discussed the pros and cons of the Trump tax plan. Here are the highlights:

"President Trump announced some of  the details of his highly anticipated tax reform which is really not tax reform it's more of a tax cut masquerading as a reform."

"I would say the best part about it is the elimination of the estate tax."

Gold: Below 1,300 Will Likely Be A Buying Opportunity

Peter Schiff’s most recent commentary on gold:

"We are at 1290 on the price of gold, so we're right below where I thought the support was at 1300." 

"I'm not that worried that we're going all the way back down to 1200."

"I don't think we see a bigger pullback though given the fact that we're not getting a rise in the dollar and oil prices are now comfortably holding above $50 a barrel."

"Strong oil, a weak dollar, to me that means that gold prices are likely heading higher even though we're a little bit below that support, I think that people are gonna buy it, I do think that 1300 is maybe the new 1200 so anything under that I think is going to be looked at as a buying opportunity."

Related trading instruments: SPDR Gold Trust ETF (GLD), Market Vectors Gold Miners ETF (GDX), Market Vectors Junior Gold Miners ETF (GDXJ), Barrick Gold (ABX), NovaGold (NG), Newmont Mining (NEM)